Wizard Capitals Reviews – Personal Review
Wizard Capitals Reviews – Personal Review
Broker Information
- Founded: 2017
- Country: United Kingdom
- Phone: +357 25260333
Platform Info
- Platform: MetaTrader 5
- Dealing Desk: No
- Web Based: Yes
- Mobile Trading: Yes
Broker Services
- Minimum Deposit: $1000
- Leverage: Up to 1:100 for retail clients and up to 1:500 for professional clients
- US Clients: No
- Funding Methods: Bank transfer, credit and debit cards
Expert’s Viewpoint
Our experts consider Wizard capitals to be a reliable and safe online brokerage. The broker is fully regulated and licensed . ForexFraud.com does not list Wizard Capitals on its list of brokers to avoid or brokers under investigation. Several independent industry websites that have chosen to review Wizard Capitals have given the broker favourable reviews. Wizard Capitals is a brokerage that follows all the regulations required of licensed online brokers. All necessary legal documents and disclosures are clearly displayed on the Wizard Capitals website.
Broker Summary
Wizard Capitals has a range of features that will undoubtedly make it attractive to many online traders at all levels of experience. It offers a broad range of instruments and asset classes, allowing clients to trade futures, shares, metals, equities, stocks, commodities, oil, CFDs, energies, indices, forex and cryptocurrencies. It should be noted that trading digital currencies is only available under the FSA. The broker offers reasonable leverage and competitive spreads. There is a choice of account types, including an Islamic account option, a demo account, and the Wizard Capitals Account, which offers commission-free trading. Opening an account with Wizard Capitals is a quick and easy process, and there is a wide choice of options for funding your account. Wizard Capitals also offers an award-winning trading platform, namely the MetaTrader platform, available MetaTrader 5 (MT5).
Some of the broker’s strengths include:
- Multi-asset class
- Superior quality of market execution
- Low latency connectivity and trading experience
- Free educational resources and daily market insights by a team of experts
Broker Introduction
Wizard Capitals is an online multi-asset broker based. The firm was founded in 2017 and offers over 70 financial instruments and more than 50 forex pairs. Customers have a choice of a Wizard Capitals Account, which offers a zero-commission trading model and spreads from just 1.2 pips, or a Wizard Capitals Account, which provides a commission of $5 per lot on forex trading, with spreads from 0.0 pips. Both accounts have a 50% margin call level and a 60% stop out level and offer swaps, automated trading, leverage of up to 1:100, and a minimum trade volume of just 0.01 for forex traders. There is no minimum deposit on the Wizard Capitals Account, but the Wizard Capitals account has a minimum deposit of $5,000. Wizard Capitals also offers swap-free Islamic accounts to those who require them. This broker offers trading via contracts for difference (CFDs), allowing traders to speculate on the price movement of a range of financial assets and potentially profit from those price changes, without ever owning the underlying assets. It should always be remembered that CFD trading can be risky, especially for beginners, so it is vital to educate oneself and trade with appropriate levels of leverage. Wizard Capitals also offers a risk-free demo account, with $50,000 worth of virtual money, to allow new customers to practice online trading and get a feel for the platform.
Spreads & Leverage
The spreads and leverage that you are offered as a Wizard Capitals customer will depend on the type of account you open, as well as the financial instruments you choose to trade. Wizard Capitals offers competitive spreads, starting at just 1.2 pips on its commission-free accounts, and 0.0 pips on the accounts that also charge a commission fee for each trade. As with many online brokers, floating spreads are used, so traders should learn to monitor changes in spreads carefully to always be aware of the conditions under which their orders will be executed. Leverage also varies between instruments. On forex, leverage of up to 1:100 is available, which is the maximum allowed under ESMA regulations. This will vary according to the forex pair you are dealing with, of course. For example, the leverage offered on minor or exotic currency pairs is invariably lower than that provided on major pairs. Leverage on other instruments such as indices and metals will generally be lower than on forex, and the leverage offered will also vary within each category, depending on the instrument being traded.
Final Thoughts
As our detailed Wizard Capitals broker review has demonstrated, this is a brokerage worth considering for various reasons. The broker offers a wide range of instruments and asset classes, with more than 70 financial instruments to choose from, and over 50 forex pairs. There is a choice of retail accounts, allowing traders to choose from a no-commission model or an account with a small commission and highly competitive spreads. Wizard Capitals accounts offer a 50% margin call level and a 60% stop out level, along with swaps, leverage of up to 1:100, and a minimum trade volume of just 0.01 for forex traders. The MT5 platform is versatile and intuitive, and allow for mobile trading, automated trading and a high level of customisation.
FAQ
Is Wizard Capitals a regulated broker?
Yes, Wizard Capitals is a fully regulated and licensed broker.
What are the deposit options for Wizard Capitals?
There are a variety of ways to deposit funds into your account at Wizard Capitals. You can use a bank transfer, credit card, debit card
How do I withdraw money from Wizard Capitals?
To withdraw money, simply log into your account and make a request for withdrawal. Withdrawal requests are processed within five business days, though it may take longer for the funds to clear, depending on the method of withdrawal you are using.
How can I open a demo account with Wizard Capitals?
The process is very quick and easy.