WSX

General Information & Regulation

WSX, a trading name of Wealth Standard Exchange, is allegedly a forex broker registered in China that claims to provide its clients with over 150 tradable financial instruments with leverage up to 1:500 and variable spreads from 0.4 pips on the MT4 for Windows, Web Trader, Android and iOS trading platforms, as well as a choice of four different live account types and 24/7 customer support service. Here is the home page of this brokers official site:

As for regulation, it has been verified that WSX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.20/10. Please be aware of the risk.

Market Instruments

WSX advertises that it offers access to more than 150 trading instruments in financial markets, including forex, indices, commodities, metals, stocks and cryptocurrencies.

Account Types

Apart from demo accounts, WSX claims to offer four types of live trading accounts, namely Standard, Pro, Var and Mini, as well as PAMM accounts. However, the broker says nothing about the minimum initial deposit requirement to open an account.

Leverage

The leverage provided by WSX is capped at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

WSX claims that different account types can enjoy quite different spreads and commissions. The typical spreads on the Standard, Var and Mini accounts start from 0.8 pips, while the clients on the Pro account can enjoy tighter spreads from 0.4 pips. The commission fee is $7, $9 and $1on the Standard, Pro and Mini accounts, while only the Var account with no commission charged.

Trading Platform Available

Platforms available for trading at WSX are MT4 for Windows, Web Trader, Android and iOS. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

WSX says to accept deposits via Bitcoin (BTC), Tether (USDT ERC20) or Debit/Credit Card via 3rd Party Providers, while the only acceptable withdrawal method is Bitcoin (BTC). The minimum initial deposit requirement varies depending on methods. Specifically, $10 for cryptocurrency deposits, $25 for Debit/Credit Card via 3rd Party Provider (Dominant Option) and $50 for Debit/Credit Card via 3rd Party Provider (Other Option). The minimum withdrawal amount is $50.

There are no deposit and withdrawal fees charged, however, a network fee will be subtracted by the Blockchain when depositing or withdrawing via Bitcoin. As for the processing time of deposit and withdrawal requests, deposits usually take 1-3 hours, which depends on the Blockchain. While the withdrawals are said to be processed within a few hours, however, it may take a maximum of 24 hours.

Customer Support

WSX‘s customer support can be reached by sending messages online to get in touch or request a callback. You can also follow this broker on social networks such as Twitter, Facebook and Instagram. However, this broker doesn’t disclose other more direct contact information like telephone numbers, email or the company address that most brokers offer.

Risk Warning

Online trading involves a significant level of 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.