General Information
WOHLSTAND is an online forex broker registered in the United Arab Emirates, allegedly offering its clients access to various trading instruments
However, the absence of detailed information about who operates this broker and regulatory information makes it suspicious to trade with.
As far as we can tell, WOHLSTAND is not governed by any regulatory authorities, thus that bit of data is settled. As a result, its regulatory status on WikiFX is classified as “No License” and it only manages a score of 1.15 out of 10 overall. Don't be oblivious to the potential danger. For more detailed customer reviews, please visit the WikiFX website.
Market Instruments
WOHLSTAND says it offers traders various classes of trading assets, which include Forex Pairs, Commodities, Metals, as well as a series of CFD products.
Account Types
There are three trading accounts available with the WOHLSTAND platform, namely the Prim account, the Pro account and the Scalping account. To open a Scalping account, investors need to fund at least $100 into the account. The Prime account requires $1,000 and the Pro account requires a deposit range of $1001 to $10,000.
Swap-free options are not available with these three trading accounts and scalping only is available with the Scalping account.
Beginners are advised to open a demo account it offers to test this platforms trading environment.
Leverage
Trading leverage differs depending on trading accounts accordingly, ranging from 1:25 to 1:100. The maximum trading leverage up to 1:100 obviously violate most regulatory authorities restriction on leverage, 1:30 for major forex pairs in EU, Australia, 1:50 for forex trading in the US and Canada, to protect retail traders.
Spreads & Commissions
Spread and commission details are not disclosed through its website.
Trading Platform
WOHLSTAND does not tell us what types of trading platform it offers, maybe a basic proprietary platform.
Customer Support
Traders with any inquiries or trading-related problems can get in touch with WOHLSTAND through telephone or filling out a contact form.
Or you can also follow this brokerage on some social media platforms, such as Facebook, Instagram, Twitter, Youtube and Pinterest.
Restricted Areas
Please note that WOHLSTAND does not offer its trading services to residents of certain countries/ jurisdictions such as Afghanistan, Bosnia & Herzegovina, Burundi, Eritrea, Gaza Strip, Haiti, Iran, Japan, Lao, Libya, Myanmar, North Korea, Somalia, South Sudan, Sudan, Syria, USA, Venezuela, West Bank and Yemen.
Risk Warning
There is a considerable degree of risk involved with online trading of leveraged Forex and CFD instruments, and as a result, it may not be appropriate for all investors.
Please keep in mind that the data presented in this article is meant to serve as a guideline only.
