Trade Well is an emerging Crypto CFD broker. They offer more than 100+ pairs and provide upto 1:40 leverage. Their platform is web based and it’s unique functionality brings a new touch of practicality to trading.
However, there are few things you should know before joining them. Read our detailed review to know everything about this broker and make an informed decision.
Disclosure: We get commissions for purchases made through links in this post.
License and Custom Support
It is always best for you to trade with licensed brokers. So, that you are always under the protection of the local regulatory body. However, we are not stating that all the unregulated brokers are outright frauds.
Considering the risks, it is better to avoid them. The parent company of this broker is Invest Support LTD. Below are the details regarding their registration.
Registration Number – 205538955
Address – 5, 1B Dimcho Debelyanov street, Metropolitan Municipality Izgrev Region, 1113 Sofia City, Bulgaria
Traders can contact the support team via telephone, telegram app or email. However, as there are no testimonials as of now, we do not have any feedback regarding them.
Account Types and Leverage
This broker offer 5 types of accounts. The distinguishing factors are starting capital, trading terms, account manager and educational content.
As a rule of thumb, you will get more professional services, if you start out with more up-front capital. Trading bonus is available across all the account types.
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However, make sure that you have completely understood with the terms and conditions first. We strongly recommend our readers never to accept bonus because most of the time it acts like a double edged sword. The amount of leverage ranges from 1:10 to 1:40. This might sound low, but in the world of cryptos it is enough.
Remember cryptocurrencies have a lot of volatility. So it is important for you to adhere to strict risk management. Otherwise, the consequences will be severe. Moreover, most of the brokers do not offer 1:40 leverage so it is not a deal breaker.
All of the clients of this broker can access an educational outlet. There are both in the format of video tutorials and books. This kind of gesture shows their commitment and integrity. Although, the quality of the material available is a subject to one’s opinion.
If you are a complete beginner, then you will benefit a lot from it. Remember to backtest every strategy before you decide to use them on a live account. Though, past results does not guarantee future actions, it is good to know the statistics.
Charting Tools and Platform
The platform offered by this broker is web based. It runs on most of the modern devices which has an active internet connection. However, if you are used to algorithm trading, then you might be disappointed. As an alternative, they offer account management, but the exact performance records are something you should keep an eye on.
There will always be execution delays in any type of copy trading. So, be prepared for that in advance or avoid trading during those times. As far as charting is concerned, there is nothing to worry about.
TradingView charts offer some of the best tools which will be more than enough for most traders. Moreover, with tradingview you can set for price charts as well so that you don’t have to stay glued to the screen. This feature will be helpful especially for swing traders.
Tradewell.io domain was registered on 15/05/2018. The registrant details are completely masked for privacy reasons. However, you can always contact the support team if you have any concerns. Since this website is relatively new, they do not have high ranking on similar web and alexa.com yet. So, we cannot trace at their main traffic sources.
Deposit and Withdrawals
Trade Well offers accounts in 4 base currencies which are AUD, USD, EUR and GBP. The minimum deposit amount is $250 or equivalent. Deposit and withdrawals can be done through wire transfer, credit cards and Bitcoin.
They state that the withdrawals are usually processed in 2 days, but sometimes can take as long as 5 business days. Unfortunately, the minimum withdrawal amount is not specified.
Trade Well Review conclusion
Trade Well is a decent broker who brings a lot to the table while their leverage might seem capped for smaller accounts, it really comes down to the strategy you employ. If you are planning to trade with this broker, then start with the minimum deposit and then scale it up if it’s necessary. The sole reason why we are recommending this is because of the lack of feedback. It’s always better to be safe than sorry.
We invite you forward to share your experience with us in the comments section.