WDC Markets is owned by FTG Solutions, located in the British Virgin Islands and operated from Estonia. The owners claim to be traders themselves, which means they can give proper advice and trading education to each client. So, is that really the case? We will see soon.
Before I even start with an in-depth review, there is one thing that I need to say at the very beginning. WDC Markets is an unregulated broker. Yes, I know this is a disappointing fact, but it doesn’t necessarily mean they are not good. Sometimes brokers without a licence can offer competitive deals to attract clients, and I truly hope WDC Markets does the same thing.
When it comes to the website, I have nothing to complain about. It’s responsive and easy to navigate. You won’t waste time trying to figure out where specific things are, everything is placed in a header and footer menu.
Platform and Execution SCORE: 50%
WCD Markets offers an online platform for each client. There is no downloadable option, but they promise the online version is fast and reliable. This is a bit disappointing, to be honest. Aside from that, WCD Markets says the platform is compatible with most computers and mobile devices. Well, if you ask me, “most” is not enough. If it’s not compatible with every device, developers need to point out which one. Otherwise, traders cannot know if they have the equipment to trade with this broker.
When you run the trading platform on your computer, everything looks nice and smooth. But the problem comes when you want to run it on a mobile device. Since there is no downloadable option, you have to go to the website. Once you enter, everything looks optimised. But the thing is, it’s not optimised at all. If you wish to trade on your smartphone, there is no way you can use the Trading platform properly. It looks like they failed to provide us with the most necessary thing.
Although I started with the negative sides, there are some good things that caught my attention. The design is excellent. It doesn’t matter whether you are a professional trader, or you are just starting with Forex trading, you will be able to easily navigate through the trading platform by using a desktop.
Once you log into the platform, you can choose the desired trading product on the left side (Forex, Commodities, Stocks or Indices). By clicking on the Commodities, for example, a dropping menu will appear, and you can click on Silver, Gold, Gasoline, etc. Trading chart and all the necessary information are in the middle, Buy or Sell buttons are on the right. As you can see, everything is simple yet full of necessary details.
Another great thing they added is the variety of languages. If you are not comfortable trading in English, you can switch to one of the 19 languages they implemented in the platform. Adding different languages is a nice touch, but unfortunately, it cannot compensate for a non-optimised trading platform.
Withdrawal Speed SCORE: 10%
Here comes the interesting part. They mention nothing about withdrawal speed or methods. If you want to know more, you need to open an account and deposit at least 250 Euro, or 500 Euro if you are using Wire Transfer.
The only information on the website is how to make a deposit. They have a separate page for deposits, but when it comes to withdrawals, nothing. I must say this is unacceptable. There is one other thing I need to point out. If you go to their Terms and Conditions and look for information about withdrawals, you will see one sentence that just doesn’t sound right or promising.
“You or we may suspend or terminate your account or your use of this Website at any time, for any reason or for no reason.”
Since there isn’t any information about withdrawals, we are unable to tell what will happen with the funds if they suspend someone’s account for no reason.
Support and Assistance SCORE: 30%
When it comes to Customer Support, there are three ways to get in contact. You can send an email, call, or use the Live Chat option. They have enough options, but their agents are not available 24/7. Instead, the working hours are Monday to Friday from 5:00 to 22:00 GMT.
I really don’t have a problem with their working hours and availability. Each of us can wait the next morning for a reply. But I do have a problem with the way they reply. I contacted them through Live Chat to collect some information regarding the withdrawals.
First, I waited a bit. Then I got a reply saying I need to open an account and make a deposit to get answers about withdrawals. A few moments later, an agent said someone from finance will give me the desired information before I open an account. Well, that did not happen.
They just closed the chat and thanked me for contacting them. The bottom line is that even though you have to wait for a reply, you still won’t get the answers you need.
Education and Tools SCORE: 90%
Unfortunately, this review was not going towards a positive direction. But I have hopes that the education section will help WDC Markets to gain some points.
They do have a part in the menu bar dedicated to education only. If you click on that section, you will be able to choose between Trading Basics, How to Trade, Market Analysis and Glossary. They covered everything and I appreciate that. Since the company is owned by traders, it is expected to have things like this.
So, the positive thing about this broker is an opportunity to learn different things and stay up to date with their analysis.
Let’s sum up everything and see if this broker is a good choice. So, the positive thing is they have different account types. You can choose between Self-Trading, Robot Trading and Copy Trading. That said, there are possibilities for everyone, with or without experience. Another great thing is the education part. They made sure each client has everything they need for successful learning.
Sadly, everything else is negative. First, they are not regulated. When we combine that with their statement that they can suspend accounts with no reason, we can see that clients are not protected at all. There is no authority to contact and make a complaint if you decide to deposit funds with an unlicensed broker.
So, when we compare the positive and negative sides of the WDC Markets, we can say only one thing. There are plenty of fish in the sea and you don’t have to take such high risks. Find someone with better offers and make an account there.