What is Windsor Brokers？

Windsor Broker Ltd, founded in 1988 and headquartered in Limassol, Cyprus, is an European brokerage firm that has been providing financial services to retail, corporate and institutional investors worldwide for many years, offering a wide range of financial instruments, including Forex, commodities, indices, and shares, as well as a variety of trading platforms and trading tools. Windsor Brokers Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC, No. 030/04).

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Is Windsor Brokers Safe or Scam？

Regulation by a reputable authority like Cyprus Securities and Exchange Commission (CySEC) is a positive factor indicating that Windsor Brokers is a legitimate broker. Additionally, the fact that they offer negative balance protection is also a plus for traders.

Besides, its entity in Belize, Windsor Brokers (BZ) Ltd, is regulated by the Financial Services Commissions (FSC).

Its global entity, Windsor Brokers International Ltd, operates under the regulation of the Seychelles Financial Services Authority (FSA), with license no. SD072.

Market Instruments

CFDs on forex, spot metals, spot commodities, spot indices, shares, ETFs are all available at Windsor Brokers. The broker allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade with Windsor Brokers.

Accounts

Demo Account: Windsor Brokers provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: Windsor Brokers offers two types of real trading accounts: the Prime Account and the Zero Account. The Prime Account, geared towards support-oriented traders, has a lower $50 minimum deposit and spreads starting from 1.0 pips on major pairs. It provides zero commission on forex CFDs, an $8 commission per lot for crypto CFDs, and includes training resources.The Zero Account targets heavy traders with a $1,000 minimum deposit, zero spreads on major currency pairs, and a maximum leverage of 1:1000. It charges an $8 commission per lot for forex, metals, and crypto CFDs, with no commission on other CFDs. Both accounts offer negative balance protection, personal account managers, a 0.01 minimum trade volume, a 50 lot restriction per ticket, hedging allowance, and a 20% stop-out level with a 100% margin call. Notably, the Zero Account does not support Islamic/swap-free accounts.

Leverage

The maximum leverage offered by Windsor Brokers is only 1:30, which may seem too low to you. Margin requirements for professional clients based on 1:100 leveraged accounts. Other leverages are available to Professional Clients only.

In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.

Spreads & Commissions

It is commendable that in the trading instruments interface, Windsor Brokers provides a detailed table showing the spreads, margin requirement, pip value, and stop levels of various instruments in various accounts in detail, which greatly facilitates customers' inquiries and comparisons.

Below is a comparison table about spreads and commissions charged by different brokers:

Note: Spreads can vary depending on market conditions and volatility.

Trading Platforms

Windsor Brokers offers traders the popular MT4 trading platform for PC, Mac, WebTrader, Android, iPhone, Android Tablet and iPad, which is ideal for all traders, whether they are professional traders or beginners. MT4 trading platform features powerful charting capabilities, a large number of indicators and algorithmic trading features, a user-friendly interface, a dynamic security system, and multi-terminal functionality.

See the trading platform comparison table below:

Trading Tools

Windsor Brokers provides a variety of trading tools to its clients to help them make informed trading decisions. These tools include market analysis and commentary, an economic calendar, and information on market holidays. Additionally, the broker offers several Forex calculators, such as Profit, Margin, Pip, Fibonacci, and Pivots calculators, which can be useful in managing risk and determining potential profits. By providing these trading tools, Windsor Brokers aims to empower traders with the necessary knowledge and resources to navigate the financial markets.

Deposits & Withdrawals

In terms of deposits and withdrawals, Windsor Brokers offers these payment methods: Credit/debit cards (Visa/MasterCard), WebMoney, Wire Transfer, Neteller and Skrill.

Windsor Brokers minimum deposit vs other brokers

The broker does charges fees for deposits and withdrawals, which vary on the payment method. All deposits are processed on the same day, while most withdrawals can be processed on the same day with the exception of wire transfer withdrawal.

More details concerning deposit/withdrawal fees and processing time can be found in the table below:

See the deposit & withdrawal fee comparison table below:

Note: Fees may vary based on the payment method and currency used. Please refer to the broker's website for the most up-to-date information.

Customer Service

Below are the details about the customer service.

Service Hour: 24/5

Live Chat/Fill in Contact Form

Email: support@windsorbrokers.eu

Phone: +357 25 500 700

Fax: +357 25 500 555

Address: Spyrou Kyprianou 53, Windsor Business Center, 3rd Floor, Mesa Geitonia, 4003 Limassol, Cyprus,

Or you can also follow this broker on some social media platforms, such as Twitter, Facebook, Instagram, YouTube and Linkedin.

Overall, Windsor Brokers' customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note: These pros and cons are subjective and may vary depending on the individual's experience with Windsor Brokers' customer service.

Promotions

Windsor Broker offers a $30 no deposit bonus for new clients, credited after completing a straightforward account opening process - apply, register by meeting requirements, and receive $30 in trading credit upon approval, allowing risk-free platform exploration.

Education

Windsor Brokers offers some educational resources to help traders improve their skills and knowledge. They have a video library that covers topics such as technical analysis, risk management, and trading strategies. They also have a glossary of trading terms and an ebook library that covers a range of topics such as trading psychology, fundamental analysis, and more. These educational resources are available for free to all clients of Windsor Brokers.

User Exposure on WikiFX

On the WikiFX website, you can see that some users have reported unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Conclusion

Windsor Brokers is a regulated broker that offers access to multiple markets and trading platforms, as well as a range of trading tools and educational resources. The broker's negative balance protection is a positive feature that helps protect traders from incurring losses beyond their deposited funds.

However, some users have reported difficulties with withdrawals, which may raise concerns about the broker's reliability. Overall, Windsor Brokers appears to be a reputable broker that offers a good range of services, but potential traders should carefully consider the reported withdrawal issues before deciding to open an account.

Frequently Asked Questions (FAQs)

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

Overview:

FinMarket is an unregulated Forex and CFD broker based in Cyprus, established in 2015. Despite claiming to be regulated by CySEC, the lack of proper regulation raises concerns about the safety of traders' funds and the transparency of their operations. Unfortunately, the website is currently down, which adds further doubts about the broker's legitimacy. The high spreads and commissions, along with the relatively high minimum initial deposit of $1000, make it an unattractive option for traders, especially beginners. Moreover, the limited account manager availability and the absence of an FAQ section demonstrate a lack of commitment to customer support. Overall, due to the unregulated status and the website's unavailability, FinMarket should be approached with extreme caution.

Regulation:

Suspicious Clone.

A “Suspicious Clone” in the context of financial services refers to an entity that mimics or imitates the appearance and branding of a legitimate and regulated company, often with the intent to deceive and defraud unsuspecting individuals. These clones use similar names, websites, and other identifying features to create the illusion of being a reputable and regulated entity, while in reality, they are operating without proper authorization and oversight.

In the case of FinMarket being labeled as a “Suspicious Clone,” it suggests that the broker claims to be regulated by CySEC but lacks the necessary authorization and compliance. Such suspicious clones can pose significant risks to investors and traders, as they may engage in fraudulent activities, mismanage funds, and potentially disappear without a trace. Traders should exercise extreme caution when dealing with suspicious clones and always conduct thorough research and due diligence before entrusting their funds to any financial service provider.

Market Instruments Offered by FinMarket:

FinMarket offers a diverse array of market instruments, catering to traders' interests and allowing them to diversify their portfolios across different asset classes. The following table summarizes the market instruments along with some examples:

Forex Currency Pairs:

FinMarket provides access to more than 30 forex currency pairs, including major pairs like EUR/USD, EUR/GBP, and AUD/JPY. These major pairs offer high liquidity and are widely traded in the global forex market.

Major Indices:

Traders can participate in the performance of major stock market indices, such as FTSE, S&P 500, and NASDAQ. These indices represent the overall performance of specific stock markets and sectors.

Commodities:

FinMarket offers various commodities for trading, including precious metals like Silver and Gold, energy resources like Crude Oil, and agricultural products like Coffee. Commodity trading allows traders to diversify their investment strategies.

Individual Stocks:

With over 160 individual stocks available as CFDs, traders can speculate on the price movements of well-known market holders like Amazon, Netflix, and Apple. This allows investors to gain exposure to individual companies without owning the underlying shares.

Cryptocurrencies:

For those interested in the cryptocurrency market, FinMarket offers access to various digital assets like Bitcoin, Ethereum, and more. Cryptocurrency trading allows traders to capitalize on the price movements of these digital currencies.

Despite offering a diverse array of market instruments, FinMarket's lack of proper regulation raises concerns about the safety and legitimacy of its offerings. Traders should exercise extreme caution when considering this broker due to the absence of regulatory oversight, which may expose investors to potential risks and fraudulent activities. Additionally, the website being down further adds to the suspicion surrounding the broker. While the range of assets offered, including forex currency pairs, major indices, commodities, individual stocks, and cryptocurrencies, might seem attractive, the overall lack of regulation casts doubt on the broker's credibility and reliability. It is essential for traders to conduct thorough research and choose regulated brokers to safeguard their investments and trading experience.

Account Types：

FinMarket offers a range of trading accounts, but be warned, their account types may not be as attractive as they seem. Let's take a closer look at each account with a critical eye:

1. Mini Account:

1. Minimum Deposit: $250

2. Features: This account type may seem affordable, but don't be fooled. The demo account for practicing strategies is nothing special, and the 40% margin is quite restrictive. With only 24 Forex currency pairs and 10 commodities and indices for trading, you won't have a wide range of options. The leverage up to 1:500 might sound impressive, but it could lead to significant losses for inexperienced traders.

2. Standard Account:

1. Minimum Deposit: $1,000

2. Features: The demo account is available, but the 26 Forex currency pairs and 10 commodities and indices offered for trading are nothing extraordinary. The daily market news and SMS alerts may sound appealing, but they hardly compensate for the lack of variety in trading options. The dedicated account manager might not be as dedicated as you expect, and the Islamic account option is just a small gesture to attract a specific group of traders.

3. VIP Account:

1. Minimum Deposit: $10,000

2. Features: The high minimum deposit might make you think you're getting premium treatment, but don't be fooled. The additional features offered, such as 28 Forex currency pairs and a full range of commodities and indices, may not justify the steep price. Direct access to a trading manager might not be as beneficial as they claim, and the 30% margin is quite restrictive for experienced traders.

4. Premium Account:

1. Minimum Deposit: $100,000

2. Features: The hefty minimum deposit requirement might make you believe you're entering an exclusive club, but the reality might disappoint you. The in-depth analyst tips they promise are just a way to add some fluff to the account. The 25% margin is not as competitive as you'd expect, and the so-called deep liquidity might not be as deep as you hope.

Account Type	Minimum Deposit	Features
Mini Account	$250	- Demo account for practicing strategies<br> - 40% margin<br> - Trading options include 24 Forex currency pairs and 10 commodities and indices<br> - Leverage up to 1:500
Standard Account	$1,000	- Demo account available<br> - Trading options include 26 Forex currency pairs and 10 commodities and indices<br> - Daily market news and SMS alerts<br> - Dedicated account manager<br> - Islamic account option
VIP Account	$10,000	- 28 Forex currency pairs and a full range of commodities and indices for trading<br> - Direct access to a trading manager<br> - 30% margin
Premium Account	$100,000	- In-depth analyst tips<br> - 25% margin<br> - Claims of deep liquidity

In summary, FinMarket's account types might appear enticing at first glance, but upon closer inspection, they fail to deliver on their promises. The high minimum deposits, limited trading options, and questionable additional features make these accounts less appealing than they initially seem.

Leverage:

FinMarket boasts about offering “up to 1:500” leverage on their trading accounts. However, before you get too excited, let's take a closer look at the reality behind this high leverage claim.

While a leverage of 1:500 might seem like an attractive prospect, it comes with significant risks and drawbacks. High leverage can amplify both your potential profits and your potential losses. This means that even a small adverse price movement could wipe out a significant portion of your trading capital.

Inexperienced traders often get lured in by the promise of high leverage, thinking they can make huge profits with a small initial deposit. However, they fail to realize that it also exposes them to substantial risks.

Moreover, it's worth noting that regulatory authorities, like CySEC, which oversees FinMarket, have been tightening their rules regarding leverage. High leverage has been associated with increased client losses and is considered risky for retail traders. Many regulatory bodies now impose leverage caps to protect traders from excessive risk-taking.

So, while FinMarket might advertise high leverage as a way to attract traders, it's crucial to approach it with caution. Trading with such high leverage can be a recipe for disaster, especially for inexperienced traders who might not fully comprehend the risks involved.

In conclusion, the maximum trading leverage offered by FinMarket might sound appealing, but it's essential to remember that high leverage comes with substantial risks. It's crucial for traders to exercise caution and employ proper risk management strategies to protect their capital when trading with such high leverage.

Spreads & Commissions:

Spreads and commissions at FinMarket vary depending on the type of trading account. However, upon closer examination, it becomes evident that the broker's offerings are less competitive than they claim to be.

1. Spreads:

   FinMarket advertises “tight spreads” on their website, but in reality, the spreads they offer are quite high, especially on their Mini accounts. For the benchmark EUR/USD currency pair, the average spread exceeds 3.7 pips on Mini accounts. Such high spreads can significantly impact a trader's potential profits, making it challenging to trade cost-effectively.

2. Commissions:

   In addition to spreads, FinMarket charges commissions on trades, further increasing the overall cost of trading. The commission rates vary depending on the type of account. For Mini accounts, the commission fee is $15.00 per trade.

3. Comparison to Competitors:

   Compared to other reputable brokers in the market, FinMarket's trading costs are less favorable. Many competitors offer much lower spreads, often within the range of 1.0 to 1.5 pips for the EUR/USD pair, without charging additional commission fees.

4. Impact on Traders:

   The high spreads and commission fees at FinMarket can hinder a trader's ability to profit consistently, particularly for those with smaller trading accounts. These unfavorable trading conditions may lead to significant losses and can discourage traders from achieving their financial goals.

In conclusion, despite claiming to provide tight spreads and varying commissions, FinMarket's trading conditions fall short compared to many other brokers in the industry. Traders seeking cost-effective and competitive trading experiences may find better options with brokers offering lower spreads and commission fees.

Deposit & Withdrawal

Deposit and withdrawal processes at FinMarket seem to be relatively straightforward, offering various methods for funding accounts and accessing funds. However, there are some considerations to keep in mind.

1. Deposit Options:

   FinMarket provides several options for depositing funds into trading accounts. Traders can choose to deposit through credit transfer, wire transfer, or the electronic payment method Ecommpay. These options offer flexibility, allowing clients to select the most suitable method based on their preferences and location.

2. Minimum Deposit Requirements:

   The broker does not impose any specific minimum deposit requirements. However, it's important to note that individual payment channels may have their own minimum deposit limits. Traders should verify the minimum deposit amount with their chosen payment method before initiating the transaction.

3. Withdrawal Process:

   FinMarket generally processes withdrawals through the same method used for depositing funds. This is a standard practice among many brokers and helps ensure the security of transactions. Traders should be aware that withdrawal requests may take some time to process, depending on the payment method and the broker's internal procedures.

4. Fund Security:

   FinMarket emphasizes the security of customer funds. The broker operates under the regulation of the Cyprus Securities Exchange Commission (CySEC), which requires adherence to strict guidelines for the protection of client funds. Furthermore, the use of SSL encryption ensures the safe transmission of personal and financial information during transactions.

5. Additional Considerations:

   While the deposit and withdrawal processes themselves appear to be straightforward, traders should also consider the overall cost associated with funding their accounts and accessing their funds. This includes any fees charged by payment providers and potential currency conversion charges, especially for international clients.

In conclusion, FinMarket offers various deposit options and follows standard practices for processing withdrawals. However, traders should be aware of any minimum deposit requirements imposed by payment channels and carefully consider any associated costs to make informed decisions about funding their trading accounts and accessing their funds.

Trading Platforms:

FinMarket provides its clients with multiple trading platforms, ensuring a diverse range of options to suit individual preferences and trading styles. The broker offers the following trading platforms:

1. MetaTrader 4 (MT4) Platform:

   MetaTrader 4 is one of the most popular and widely used trading platforms in the industry. It offers a user-friendly interface and a comprehensive set of tools and features, making it suitable for both beginner and experienced traders. Traders can access advanced charting capabilities, a wide array of technical indicators, and various timeframes for market analysis. MT4 also supports automated trading through Expert Advisors (EAs), allowing traders to execute trades automatically based on predefined strategies. The platform is available for desktop (Windows, Linux, and MacOS), as well as mobile devices (iOS and Android), providing convenience and flexibility for traders who prefer to trade on the go.

1. In-House Web Trading Platform (WebTrader):

   FinMarket has developed its own web-based trading platform known as WebTrader. This platform is accessible through any web browser without the need for downloading or installing additional software. WebTrader offers a user-friendly interface with one-click trading functionality, real-time market charts to monitor market trends, and social trading features. The platform caters to traders who prefer a hassle-free trading experience and wish to access their accounts from any internet-connected device.

2. In-House Mobile Trading Platform:

   For traders who are constantly on the move, FinMarket offers a mobile trading platform compatible with both Android and iOS devices. This mobile app provides full access to trading accounts, enabling traders to execute trades, monitor positions, and access real-time market data from the palm of their hands. The mobile trading platform ensures that traders can stay updated and respond to market movements promptly, regardless of their location.

In summary, FinMarket provides a diverse selection of trading platforms to cater to the needs of different traders. The MetaTrader 4 platform offers advanced tools and analysis for experienced traders, while the in-house WebTrader platform appeals to those seeking simplicity and convenience. Additionally, the mobile trading platform ensures traders can stay connected to the markets at all times, making it a comprehensive offering for a range of trading preferences.

Customer Support:

FinMarket's customer support has been a source of frustration for many traders, as it often fails to meet their expectations. The broker claims to provide reliable assistance, but in reality, reaching their customer support team can be a tedious and time-consuming process.

1. Phone Support: While FinMarket offers a phone support option, getting through to a support representative can be a daunting task. Traders often find themselves waiting on hold for extended periods, only to be met with unhelpful responses or transferred to different departments without any resolution.

2. Email Support: Traders who opt for email support are often left disappointed with the slow response times. It can take several days to receive a reply, and even then, the answers provided are often generic and fail to address the specific concerns raised by traders.

3. Live Chat: The live chat feature on FinMarket's website is advertised as a quick way to get assistance, but in reality, it is far from efficient. Traders report experiencing long wait times before connecting with a support agent, and when they do, the responses are often vague and unhelpful.

4. Web Contact Form: Submitting inquiries through the web contact form is no better, as traders rarely receive timely or satisfactory responses. It seems like the broker pays little attention to these contact forms, leaving traders feeling ignored and frustrated.

Overall, FinMarket's customer support is lackluster and inadequate. Traders have expressed their dissatisfaction with the slow response times, unhelpful answers, and overall lack of professionalism displayed by the support team. As a result, many traders feel let down by the broker's supposed commitment to providing reliable assistance.

Summary:

FinMarket is an unregulated Forex and CFD broker based in Cyprus, established in 2015. While it offers a diverse range of market instruments, including forex currency pairs, major indices, commodities, individual stocks, and cryptocurrencies, the lack of proper regulation raises concerns about the safety of traders' funds and the legitimacy of its operations. The high spreads, varying commissions, and relatively high minimum initial deposit of $1000 make it unattractive, especially for beginners. The website's unavailability adds further doubts about the broker's credibility. The customer support is inadequate, with slow response times and unhelpful assistance.

Pros:

• Offers a diverse array of market instruments.

• Provides multiple trading platforms, including MetaTrader 4 (MT4).

• Supports mobile trading for on-the-go access.

Cons:

• Unregulated status raises concerns about fund safety and transparency.

• High spreads and commissions impact profitability.

• High minimum deposit requirements.

• Inadequate customer support with slow response times and unhelpful answers.

• Website unavailability adds to doubts about legitimacy.

Overall, due to the lack of regulation, high costs, and unsatisfactory customer support, FinMarket is not recommended for traders. It is essential to consider alternative, regulated brokers with better trading conditions and customer service for a more secure and reliable trading experience.

FAQs:

Q1: Is FinMarket a regulated broker？

A1: No, FinMarket is an unregulated broker, which raises concerns about the safety of traders' funds and the transparency of their operations.

Q2: What is the minimum initial deposit required to open an account with FinMarket？

A2: The minimum initial deposit for a Mini account is $250, while the VIP account requires a minimum deposit of $10,000.

Q3: Does FinMarket offer a demo account for practice？

A3: Yes, FinMarket provides a demo account for traders to practice their strategies before trading with real money.

Q4: What trading platforms does FinMarket offer？

A4: FinMarket offers MetaTrader 4 (MT4), a web-based platform (WebTrader), and a mobile trading platform for Android and iOS devices.

Q5: Is customer support readily available at FinMarket？

A5: FinMarket's customer support has been reported as inadequate, with slow response times and unhelpful assistance, making it a source of frustration for traders.