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WBandSmith is a regulated broker, yet a simple one, despite its overwhelming website. It sure talks a lot, but the truth is that WBandSmith is pretty much your textbook FX firm. Its offshore status may be a deal breaker for some, but we assure you that this firm is perfectly capable of dealing with any type of user. Read the following review for all about WBandSmith.

The broker offers the standard financial instruments, like commodities, shares, forex currency pairs, ETFs, and indices. We read a 0.4 pip spread for the EUR/USD currency pair on the main page of the website, which is excellent to say the least. Such a spread can hardly be beat, and according to the broker’s own words there are no commissions anywhere, meaning that this really is the spread. But, we have our doubts, for the offshore status of WBandSmith might have allowed it to exaggerate a tad bit. Offshore regulated brokers have many faults which either pass undetected or are ignored by the regulators; on of these might be the low spread. Even so, we believe that WBandSmith offers a good spread, regardless.

There was no leverage revealed anywhere, but consider the offshore status we have to consider the leverage to be more than 1:30, since a high leverage is one of the hallmarks of any offshore broker.

WBANDSMITH REGULATION AND SAFETY OF FUNDS

WBandSmith is fully regulated in Mauritius by the Financial Services Commission. It all checks out.

There are a few things to note of this commission and of offshore-regulated brokers as a whole. First of all, the commission requires a broker candidates and those that have already obtained the license to hold at least €25 000 up to €250 000. As far as the requirements go, we would like to focus on what offshore regulators allow or turn a blind eye to. For one, these types of regulators rely on a certain looser style of regulating, which consequently attracts indiscreet brokers who cover the basic requirements. One example with this broker is the aforementioned spread predicament, or the fact that it lacks vital information on its site like the leverage value, or crucial payment details. We will find more were we to search for further inconsistencies.

So, an offshore license cannot compare to a mainland one, but it is still a license, meaning that despite the discrepancies, WBandSmith still cares for its users and will not let them be harmed, financially.

WBANDSMITH TRADING PLATFORM

The software offered by the broker is one that is available ass both a web trader and a mobile trading app. The name of the deal is PROfit platform, advertised as a software suitable for anyone, both rookie and expert traders. This is what we like in these platforms, to cater to all tastes and all levels of traders. It shows that the broker can accommodate the needs of all.

Some of the features of the software are around the clock market updates that help in deciding where and when to invest, a support team for the platform, superb customization tools and options, trading strategies, stop loss and take profit options, push notifications, price alerts, and more.

WBANDSMITH DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit requirement is $200. The minimum withdrawal is said to be $100, and there are no fees on the brokers side. However, payment system fees may apply.

The only other payment information on the site are the logos of payment providers found near the footer. These are Skrill, Pay Retailers, safetypay, paysafecard, bank transfer, credit cards, and debit cards.

It’s disappointing that there are so few payment details revealed. But nevertheless, WBandSmith is legit meaning that, if you so chose, all deposits are safe and all withdrawals are guaranteed.

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