There are plenty of online forex and CFD brokers, and CommerceWealth is one of them. This company was established in 2021 and is headquartered in St. Vincent and the Grenadines. The regulations it follows come from SVGFSA, and the country of regulation is St. Vincent and the Grenadines.
You can open an account in CommereceWealth, run on a proprietary web-based platform, by depositing a minimum of $1,000 and examining a demo account before trading is possible. CommerceWealth charges no amount for withdrawal and inactivity fees and fixes leverage up to 1:400.
CommerceWealth has an amazing proprietary trading platform that is user-friendly. It also offers a wide product portfolio consisting of more than 500 CFDs. This broker allows leverage up to 1:400, which gives advantages to the clients, and swift NDD order execution is another positive side of being with the broker. The negative points are the relatively high CFD fees and the minimum deposit for trading is also high. Besides, CommerceWealth doesn’t provide 24/7 support to clients.
Pros / Cons
- Wide Range of Instruments
- High Leverage
- No Copy Trading Available
- High CFD Fees
Safety and Regulation
The SVGFSA monitors CommerceWealth’s activities. However, the broker still doesn’t receive licenses from major regulators, including the FCA, ASIC, or CySEC. The company follows all AML and KYC policies.
Is CommerceWealth Safe or a Scam?
CommerceWealth has proved itself a safe and secure broker to trade with as it ensures all safety, along with AML and KYC standards. It has an open and uncomplicated execution policy. You will even get negative balance protection from it if you are a VIP client. Besides, no fund mismanagement or client harassment issues are found in the broker’s record.
Only the citizens of the U.S., Japan, Iran, and North Korea cannot use CommerceWealth. Everyone except them can have their own service. However, you have to ensure that your country’s law accepts all the rules and regulations of CommerceWealth.
CommerceWealth fixes high trading fees, which are different for different accounts. Regarding trading fees, they are not transparent, so you cannot calculate the cost accurately. A higher minimum deposit is also required for lower spreads and top-notch service, which disheartens new traders to step up in the market. Moreover, CommerceWealth does not claim commission for trading.
The highest level of leverage for CommerceWealth is 1:400, which is considered comparatively high and positive for getting an advantage while trading.
What is CommerceWealth’s Minimum Deposit?
You have to deposit a minimum of $1,000 or equivalent at CommerceWealth. But better service and lower spreads will be secured when you deposit at least $100,000.
You can choose your preferred account among its six different trading accounts. The Starter Account, the Classic Account, and the Intermediate Account are for low-end and intermediate investors. The Advanced Account, the Ultimate Account, and the VIP Account are popular among high-end users.
The accounts are described below in detail:
It’s a great starter package with a minimum deposit of $1,000, which comes with an Islamic account.
It’s a great option for both experienced and beginner traders. The minimum deposit is $2,500 for this account, which is very useful to new and experienced clients. It allows for the use of Islamic accounts as well as mobile trading.
This account is ideal for intermediate-level investors, requiring a deposit of $5,000 at least. It comes with the perks of mobile trading, technical indicators, CWTrader, and economic news.
This advanced account provides analysis tools to pick and accomplish trading strategies. You have to deposit at least $10,000 to open this account. CWTrader, Economic News, Technical Indicators, and fixed pricing come with this account.
After depositing $50,000, you can use the account that allows you to trade at a fixed rate without thinking about commissions. It’s an EU private account.
This account offers competitive pricing. You have to deposit at least $100,000 to open this account. It works as your banker. The facilities like 0.01 minimum lot size permit, technical indicators, economic news, technical analysis, and fixed pricing come with most account types, especially with high-end accounts.
Deposit and Withdrawal
Different payment methods are accepted to fund your account by the broker, and all the processing procedures of deposits and withdrawals depend on the types of accounts. Only USD can be used in the accounts.
How to Make a Deposit?
Common deposit methods are e-payments, including credit and debit cards, wire transfers, bank transfers, and e-wallets. First, log into your account, and visit the “Deposit” section. Then, choose your preferred method by clicking. Now, by entering the amount you are going to deposit. Finally, put the payment method details in the offered place.
CommerceWealth invested time and money to create its proprietary investing platform, known as CWTrader. This cross-functional platform allows you to enjoy an amazing trading experience along with advanced technical tools, a wide range of indicators, asset classes, and trading robots. CWTrader can be used on both mobile and desktop via web browsers.
Markets and Instruments
The company provides CFD trading in more than 10,000+ assets, which can be divided into classes: Currencies, Stocks, Indices, Commodities, and Cryptocurrencies.
You can reach out to CommerceWealth in several ways, and it has a well-trained customer support team to respond and help you quickly, no matter your issues.
Means of Communication
Live Chat, Email Support, and Phone Support are available as means of communication. You can call the broker at +18007214152.
and by email at email@example.com.
The success of the traders depends on client education, which CommerceWealth knows very well. Regardless of your account type, the broker will give you access to its education center and resources, where you will find all the information you need.
CommerceWealth is an online-based CFD and Forex broker. Founded in 2021, this broker provides six trading accounts and floating spreads, allowing its clients access to over 1,200 distinct financial assets. Being regulated by SVGFSA, CommerceWealth is a safe broker, with which you can trade with ease.
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With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
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