Overview of WD Capital
WD Capital is an online brokerage firm that was established in 2015 and is headquartered in London, UK. It is not subject to any regulatory governance and targets retail investors looking to trade currencies, cryptocurrencies, stocks, indices, commodities and ETFs.
WD Capital offers trading on both MetaTrader 4 and MetaTrader 5 platforms. Account types available include a standard account, a premium account with lower spreads, an Islamic account that complies with Sharia principles, and a demo account for practice trading.
The broker provides access to over 800 trading instruments across 5 asset classes. This includes over 50 currency pairs, 15 cryptocurrency CFDs, hundreds of stocks, commodities like gold and oil, and major market indices. WD Capital offers leverage up to 1:500 depending on the asset class.
Additional services provided include advanced charting packages, daily market analysis, trading signals, and access to webinars and learning resources. The minimum deposit to open a live account starts from $250.
Regulatory Information
A significant point of concern for potential investors is the broker's unregulated status. It lacks oversight from major financial regulatory bodies. This absence of regulation can pose substantial risks to traders, as unregulated brokers often lack the stringent compliance and transparency standards set by established regulatory authorities.
Investors dealing with unregulated entities may face challenges in seeking recourse in case of disputes or malpractices. Thus, it's imperative for traders to exercise caution and conduct comprehensive due diligence before engaging with such brokers.
Pros and Cons
Pros:
High leverage up to 1:500 - This allows traders to take on larger positions with less capital. So a $1,000 deposit can control a $500,000 position size. This can increase profits but also risks.
Competitive spreads from 0 pips - The broker offers tight spread costs on certain assets like major forex pairs. This reduces trading costs for high-volume traders.
Diverse platforms - Choosing between MT4, MT5 and web-based trading appeals to users familiar with different platforms. MT4/5 offer advanced charting.
Account types - The standard, premium, Islamic, and demo accounts cater to different account sizes, trading styles, and religious needs.
800+ instruments - A large offering of currencies, stocks, indices, commodities, and crypto CFDs allows diversifying trading strategies.
Research and trading tools - These provide trading ideas, signals, analysis, and learning resources to aid trading decisions.
Cons:
No US stocks/ETFs - This limits trading opportunities on popular US shares and funds. Other brokers provide access to US markets.
Limited crypto CFDs - Just 15 cryptocurrency CFDs are offered. Competitors may have 50+ cryptos for more diverse exposure.
Weekend support - Not having 24/7 customer service and support can be an issue if weekend trading questions arise.
High minimum deposit - The $250 deposit is above competitors like Pepperstone ($200) or IC Markets ($200).
English only - This reduces usability for non-English speakers. Many brokers offer multi-language sites and support.
UK-focused - Phone support and account funding focused on the UK makes things difficult for international clients.
Market Instruments
WD Capital provides traders access to a diverse range of over 800 trading instruments across 5 major asset classes. This extensive offering allows clients to trade on forex, stocks, indices, commodities and cryptocurrencies.
Forex: Over 50 currency pairs including majors (EUR/USD, GBP/USD), minors (EUR/GBP, AUD/USD), and exotics (USD/PLN, USD/SEK)
Stocks: Access to trade CFDs on hundreds of global stocks from exchanges like LSE, NYSE, NASDAQ, Hong Kon,g and more.
Indices: Major global stock indices from key markets including the UK (FTSE 100), Germany (DAX 30), the US (S&P 500, Dow Jones), Japan (Nikkei 225), Europe (Euro Stoxx 50)
Commodities: Trade CFDs on commodities like gold, silver, oil, natural gas, copper, corn, wheat, and more.
Cryptocurrencies: 15 of the top crypto CFDs including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cas,h, and Dash.
Account Types
WD Capital offers 4 main account types with varying minimum deposits, spreads, products and features to accommodate different investor needs and experience levels. The demo account allows traders to try the platform risk-free.
1. Standard Account
Minimum deposit: $250
Spreads: Variable spreads from 1.2 pips
Leverage: Up to 1:500
Products: Access to a full range of over 800 instruments
Other features: Free VPS hosting, daily market analysis
2, Premium Account
Minimum deposit: $5000
Spreads: Lower variable spreads from 0.0 pips
Leverage: Up to 1:500
Products: Access to a full range of over 800 instruments
Other features: Dedicated account manager, free trading signals
3. Islamic Account
Minimum deposit: $1000
Spreads: Variable spreads from 1.5 pips
Leverage: Up to 1:500
Products: Access to over 700 swap-free instruments
Other features: Complies with Sharia principles
4. Demo Account
Minimum deposit: $0
Spreads: Variable spreads from 1.2 pips
Leverage: Up to 1:500
Products: Access to a full range of over 800 instruments
Other features: Virtual $50,000 balance, ideal for practice
How to Open an Account？
Opening an account with WD Capital is a straightforward process. Here are three specific steps to get started:
1. Visit Website and Account Type Selection
Go to WD Capital's website and click “Open Live Account”
Select your preferred account type (Standard, Premium, Islamic, Demo)
2. Account Application Form
Fill in your personal details and contact information
Set account currency and password
Accept legal terms and conditions
3. Fund Your Account
Deposit minimum amount by card or bank transfer
Standard accounts require $250 minimum
Premium accounts require $5,000 minimum
Islamic accounts require $1,000 minimum
Demo accounts do not require a deposit
Leverage
WD Capital offers leverage up to 1:500, allowing traders to control large positions with a relatively small capital outlay. However, leverage varies across financial instruments based on regulation and risk profiles. Generally, leverage decreases for assets perceived as more volatile.
Spreads and Commissions
WD Capital offers competitive variable spreads that can go as low as 0 pips on certain major currency pairs. Spreads will vary depending on market conditions, asset type, and account chosen. The broker does not charge any additional commissions on trades, except for stock CFDs which have a small commission fee.
Trading Platform
WD Capital offers traders a choice of the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms as well as its WebTrader online trading platform.
Key features of MT4 and MT5:
Advanced charting tools with a range of indicators and drawing tools for analysis
Automated trading capabilities through Expert Advisors and bots
Customizable layouts and chart templates to suit trading preferences
One-click execution and a variety of order types including stops, limits and trailing stops
Support for algorithmic trading and extensive backtesting environment
Access to trading signals, technical analysis and market commentary
WebTrader Platform:
HTML5 web-based platform accessible on any device without downloads
Real-time streaming quotes and secure 256-bit SSL encryption
Customizable layout with multiple chart types and indicators
Trades executed with fast one-click dealing options
Suite of trading tools including live news feeds and economic calendar
Ability to manage positions and orders directly from any web browser
Deposit and Withdrawal
WD Capital offers convenient instant deposits through debit/credit cards or slower bank transfers. Withdrawals are processed quickly within 24 hours for cards or up to 5 days for bank wires. There are no deposit or withdrawal fees. Traders can fund accounts and withdraw profits in USD, EUR, and GBP currencies.
Customer Support
WD Capital provides email, live chat, and phone access to customer support 5 days a week during standard UK business hours. Additional resources via social media, online FAQs, and contact forms supplement around-the-clock assistance.
Email support: Support is available 24/5 via email at support@wdcapital.com with responses within 24 hours.
Live chat: Available 24/5 on the website for instant messaging with support staff.
Phone support: Phone support is available at +44 20 3150 0537 from 8 am to 4 pm UK time Monday to Friday.
Contact form: Can submit general inquiries through the online contact form on their website.
Educational Resources
WD Capital aims to empower traders through a suite of educational materials and trading analysis. Resources include live webinars covering different markets and strategies, a video library with recordings on technical and fundamental analysis, ebooks and trading guides for developing skills, and a glossary defining key financial terms.
Additionally, daily and weekly market reviews provide actionable insights while the blog publishes topical trading articles around events impacting markets. New traders can benefit from the free trading courses teaching basics through to advanced skills.
Overall, WD Capital provides a rich set of complimentary educational materials across various formats to support trader development.
Comparison with similar brokers
WD Capital competes with leading forex and CFD brokers like Pepperstone and IC Markets. In terms of trading costs, account types , and platforms, WD Capital offers competitively low spreads from 0 pips, a good selection of account options, and provides both MT4/MT5. However, Pepperstone has faster execution speeds while IC Markets provides access to more markets.
Overall, WD Capital holds up well compared to these major established brokers.
Conclusion
In conclusion, WD Capital delivers a trading experience with competitive spreads, a decent range of trading instruments across major asset classes and platforms preferred by active traders. The choice of account types and educational resources make it suitable for novice and experienced investors.
However, its focus is more on forex and CFD trading rather than global stock market access offered by some rivals. WD Capital works best for traders seeking tight spreads, high leverage and platforms like MetaTrader alongside responsive multilingual customer support. Though still building its brand recognition, WD Capital provides a solid overall offering as an online brokerage.
FAQs
Q: What leverage ratios are available？
A: Leverage up to 1:500 is offered on forex and 1:100 on commodities, with lower leverage on stocks and cryptocurrencies.
Q: How can I be sure my funds are secure？
A: WD Capital keeps client funds in segregated accounts at top-tier banks and enforces robust cybersecurity measures.
Q: Are there any inactivity fees？
A: Accounts are not charged inactivity fees, only a dormancy account management fee after 12 months of no trading.
Q: Does WD Capital allow hedging of positions？
A: Yes, you can hedge by opening opposite direction positions on the same instrument.
Q: What Islamic account options are available？
A: Islamic accounts with swap-free trading compliant with Sharia principles are offered.
