WGP Markets Information
WGP Markets is a company based in the United States and offer services to global individual and institutional clients. It offers a wide range of market instruments including forex, precious metals, crude oil and cryptocurrencies, etc., all can be traded from a one-stop account on ST5 platform. WGP Markets claims cooperation with Goldman Sachs to provide traders with automated investment analysis and research tools, which is a light spot.
However, the company currently operates under no valid regulation from any authorities, you should pay attention to this if regulation is among one of your criteria to choose a broker.
Pros and Cons
Is WGP Markets Legit？
WGP Markets is not regulated by any financial authorities so far, which you should take into consideration before tapping into real trades with them, since lack of regulation usually means less financial security and customer protection.
What Can I Trade on WGP Markets？
One of the important rules of investing is never put all eggs in one basket. You should spread your money across different products to dilute risks. For WGP Markets, you'll have 100+ instruments through four assets to choose from: forex, commodities, indices and cryptocurrencies.
- Foreign Exchange: offers up to dozens of mainstream foreign exchange currency pairs including EUR/USD, USD/CAD, GBP/USD, USD/JPY, etc.
-Precious metals: Provide a variety of metals spot trading: gold (XAUUSD), silver (XAGUSD) precious metals trading.
- Crude oil: provide US crude oil (UsOIL) trading
- Indices: Nikkei Index(N225), German Index (GER30), S&P 500 Index (US500)
- Cryptocurrency: The company offers dozens of mainstream digital currency pairs including Bitcoin (BTC/USD), Ether (ETH/USD), Ripple (XRP/USD), etc.
There's no ETFs trading or bonds trading. But overall, you still have a good mix of investment options.
Account Types
With WGP Markets, you can trade globally with a one-stop live account gathering all your tradings. The account offers floating spread starting from as low as 0 pip and leverage up to 1:100.
Spread is the difference between ask and bid price. Tight spread usually means lower trading costs and increased liquidity, making entering and exiting positions more effective.
While leverage allows you to control larger positions with less initial capital. Leverage is usually advised to be used carefully because it brings both profit and loss alike.
Other key information such as minimum deposit or commission info are not readily avialable on the broker's website.
Trading Platform
WGP Markets offers the popular and widely used ST5 platform. You can trade with the platform on web or download the trading app from iOS and Android devices from the company's website.
The platform allows for 24/7 trading and offers one-stop integration of your trading execution. Moreover, powerful charting tools such as indicators and intraday analysis tools are also available for better market understanding and trading decisions.
Customer Support Options
The customer service channels provided by WGP Markets is relatively limited. You can only get in touch with them through email, online chat by LINE and physical office address.
Multiple language support is an advantage but more comprehensive methods such as phone or social media is provided by this broker so far.
The Bottom Line
WGP Markets makes building a diversified portfolio easier with its wide selection of investment options. The implementation of fund segregation benifit client protection and cooperation with the world-renowned Goldman Sachs overwhelms some companies in better market insights.
However, the unregulated status and limited transparency on trading conditions hinder the steps of some clients. Before choosing a brokerage to trade with, always weigh the pros and cons and ensure their defections are within your tolerance.
FAQs
Is WGP Markets safe？
Hardly to say, WGP Markets is not regulated by any recognized authorities so far, which makes it a less safe choice.
Does WGP Markets truly offer commission-free trading？
It does not reveal any info on commissions on the website.
What kind of trading platform does WGP Markets offer？
WGP Markets offers ST5 platform on iOS and Android. The platform allows for 24/7 trading and offers one-stop integration of your trading execution. Powerful charting tools such as indicators and intraday analysis tools are also available.
Is WGP Markets good for beginners？
No, WGP Markets might not be suitable for beginners. The unregulated status suggests less compliance to industry standards and the limited transparency on trading conditions confuse traders especially beginners as well.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
