Our WCX Review
WCX is a forex and CFD broker that was launched in 2017. The platform offers leveraged trading services with access to over 150 tradable assets. A unique aspect of the platform is that it only accepts deposits in Bitcoin. The platform is based in Switzerland. A pair of former Apple engineers, Tagawa Hayashida and Amatsu Soyoobu founded it. Since its launch, the platform has grown its user base and trading volumes significantly. Over 125K traders from over 189 nations currently use it globally.
WCX Account Types
WCX offers traders access to one account type called the Standard account. The account has no minimum deposit requirement. It comes with a maximum leverage of 1:300 and spreads of as low as 0.5 pips. The minimum trade size is set at 0.001BTC.
To create an account, you need to provide an email, your first name, and a password. To begin the process, click on βCreate Accountβ on the homepage. Upon creating the account, it will be a Demo account by default. To activate the account, you need to complete the KYC/AML process. You will need to provide your full name, address, provide proof of identity, and proof of address documents. The verification process can take a few minutes to a few hours.
Tradable instruments
Clients using WCX have access to over 150 tradable assets in numerous markets that include FX, cryptocurrencies, commodities, stocks, stocks, and indices with Bitcoin as collateral. Users of WCX have access to numerous indices such as NASDAQ, commodities such as gold and oil, forex pairs such as EUR/USD stocks such as Apple, and much more. Users get access to 15 leading crypto coins, which can be traded with leverage.
Trading Platform
The WCX broker uses a web-based platform. The platform gives access to trading order history, open order, and funding history. WCX has integrated TradingView charts, which gives users access to over 300 indicators. The platform also comes with Stop Loss and Take Profit capabilities.
Affiliate Program
WCX offers a great affiliate program. Users of the program can earn up to 50% of the revenue that the platform makes from traders who sign up using your referral link.
Fee
There is no deposit or withdrawal fee for using WCX. The platform makes its profits via spreads. There is a decay fee, which is similar to the swap fee charged by online brokers.
Withdrawals and Deposits
All deposits and withdrawals in the WCX broker are made using Bitcoin. There is no fee charged. However, you will incur a network fee, which will vary depending on the pressure on the Bitcoin network.
Education
The WCX broker has a documentation section, which is a good source of information for novice traders. It provides users with tutorials on how the exchange works, liquidity pools, prices and spreads, decay, leverage trading, and the affiliate program.
Customer Support
Clients of WCX can contact customer support by submitting a support ticket. The support staff will handle the issue in a relatively short time. There is also the option to contact support directly via their email address ([email protected]).
Summary
WC is a great platform that offers a unique funding method via Bitcoin. They have a great affiliate program and high leverage. For anyone who would love to trade using crypto, it is a great place to get started.