list of Canadian FX brokers

We have covered the review of various features of WesternFX and help understand its viability as a forex broker. WesternFX comes across as a decent forex broker with great versatility. It can offer five different trading accounts, The only downside is the offshore nature of the broker and less regulation westernfx review on its operation. They have a curious mix of adaptive customer support and a hassle–free trading environment. Educational resources and learning environment further enhances the scope for starting a trade account. WesternFX has great customer support and free access to software products.

The review is not detailed and cannot be treated as a final verdict on the provided services. WesternFX offers a wide variety of assets that traders can avail, they offer user–friendly interfaces to acquaint relatively new traders. However, this can only be confirmed by trying to make an investment and withdrawing the funds. MetaTrader has become the choice of almost all traders for many reasons. It is comfortable, has many instruments, tools, signals, can be accessed on different platforms, and is legit.

Customer reviews on WesternFX

It is regulated by the FSA in St. Vincent and the Grenadines. An inexperienced user might think that this already adds up to a good reputation. However, because the regulation country is in an offshore zone, the requirements are very loose, making an investment here possibly risky. They accept all popular and regular transaction methods without any complex procedures. The best part is the facility to accept small initial deposits and relatively low spreads.

Promotions are a great way to earn additional money or boost your deposit. For example, recently, there was an achievement award campaign where users were invited to make a deposit and get prizes for reaching specific amounts. When you make a deposit or withdrawal, remember about the fees that might be charged by the payment systems. Canada’s booming economy and infrastructure have only but resulted in online trading businesses and Forex brokers flourishing and accessible to the public. WesternFX claims to boast of a customer redressal mechanism to serve, assist, and guide new customers. They also have separate sections of educational learning for understanding the trading concepts.

Account types at WesternFX

The customer service executives can be contacted using the “Contact us” radio button on the website. It is a surprise, but there are very few reviews about WesternFX. We have surfed many rating websites and trading forums, but there was not enough information that could be trusted. Just like most Forex brokers, this company works with popular MT4 software.

The minimum account size allowed is 25$, with the pip range of 1.6 for USD/EUR currency pair. The foreign exchange market, or Forex, or simply FX has been growing in both interest and size in North America since the last decade. Reviews can help in understanding the current operational quality of the broker, it is important to look for “red flags” when investing especially if it’s an offshore broker. There were fewer reviews about the WesternFX and the score on Trustpilot was missing. We remind our dear readers that WesternFX is regulated in an offshore zone with the loose requirements and investing your funds here might be risky.

What can you trade with WesternFX?

WesternFX is a part of the league of offshore forex brokers with good trading conditions standing out from others. They also have better options in offering a minimum deposit and spreads. They focus on both international consumer and corporate clients with industry–standard trading environments like MetaTrader 5. The transaction process during cash withdrawal and deposit are responsive with the support of experienced forex agents.

It does not contain any information, so it can be counted as there is no review at all. As we can see, the levels do not differ that much, and it is quite possible to work with the Standard or ECN levels. The terms are quite acceptable, but we have seen better conditions with competitor services.

Payment methods at WesternFX

WesterFX team has strived to bring in the best technical support and assistance to make the mechanism with maximum ease and less complicated procedure. They are serving consumers and retails from more than 18 countries across the Middle East, Europe, and Asia. To get this account type, you need to invest at least $500. The leverage remains the same as in the previous type, but the spreads start at 0.1 pips. The brokerage service is held by the Western group INC company and was founded in 2013. The broker has three offices in Bangladesh, Canada, Saint Vincent and the Grenadines.

It comes under the regulation of the local authorities which comes under the category of offshore regulators. WesternFx is regulated under FSA (St. Vincent and the Grenadines). They are offering a wide set of trading instruments and an intuitive online trade account opening facility which is one of its main highlights. The company was instituted by former traders seeking to remove hurdles in the trading environment. They claim to provide a unique trading facility and enhanced trading experience with their customized infotech infrastructure.