RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
CWG is a UK regulated forex and CFD broker, licensed and authorized by the Financial Conduct Authority (FCA) in London. CWG is a STP broker offering three account types with a leverage of up to 200:1 for professional traders and a choice between MetaTrader4 and MetaTrader5 platform.
The list of trading instruments includes some 60 currency pairs many of which minor or exotic like USDCNH, USDDKK, USDHKD, USDNOK, USDSGD, USDSEK, USDZAR, USDRUB, USDPLN and USDMXN. And you may also trade CFDs on crude oil, precious metals like silver, gold and platinum, futures and a number of indices.
CWG regulation & safety of funds
CWG is owned and operated by CWG MARKETS LTD, incorporated in the UK, which as we already noted, is duly authorized and regulated by the local Financial Conduct Authority (FCA) – a license which also allows CWG to offer its services in all the countries of the European Economic Area – the 28 EU countries (including Britain) plus Norway, Island and Switzerland.
A FCA license guarantees the safety of the invested funds in several ways. First, a FCA regulated broker is required to follow a strict set of financial and ethical rules including to maintain at all times a minimum operational capital of at least 730 000 Euro, to provide clients with a negative balance protection, to keep their money in a segregated, trust account, to file regular reports and to allow external audits.
On top of that all FCA brokers are obliged to participate in a client compensation fund, basically insuring their clients’ funds for up to 85 000 GBP.
CWG trading conditions
With the Classic Account you get spreads starting at about 1,3 pips (the average spread for the benchmark EURUSD pair) and this is acceptable, bearing in mind that there is no trading commission with that particular account type.
With the Advanced Account and the Institutional Account you have a trading commission of 6 USD and 3 USD per standard lot traded respectively, but with these account types you get what we call raw spreads – the EURUSD spread floats around 0,3 pips.
Just bear in mind that a trading commission of 6 USD per standard lot of 100 000 USD (round trip) adds another 0,6 pips to the actual spread, so with the Advanced Account you get actual spreads starting form 0,9 pips, while with the Institutional Account the actual spreads start as low as 0,6 pips.
Leverage with all account types for retail clients is in line with the latest rules of the European Securities and Markets Authority (ESMA), adopted by FCA as well – 30:1.
If you are a professional trader, however, you can enjoy a much higher leverage – up to 200:1.
CWG trading platforms
With CWG you have a choice between MetaTrader4 and MetaTrader5 – probably the two most widely used trading platforms on the market. Both feature an excellent set of charting tools, numerous market indicators and the option to run automated trading sessions with the help of specially designed, modifiable trading robots or Expert Advisors.
On top of that with MetaTrader5 you can trade over-the-counter instruments as well as exchange traded stocks from the same account.
CWG deposit/withdrawal methods and fees
CWG does not charge any handling fees for deposits or withdrawals and withdraws are processed within one working day.
The minimum deposit requirement to open a Classic or an Advanced Account is 200 USD, while for an Institutional Account you will have to deposit a much larger sum – 50 000 USD.
You can open a trading account in US dollars, Euro and British pounds.