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WCG Markets
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WCG Markets

Hong Kong
2021-02-24
1
6.62
Rating Index
Software
8.37
Licensed
7.02
Risk Control
2.99
Experience
8.83
Institution
7.02
Industry Classification
D
Unqualified
Trading Platforms
MT4

Basic Information

  • Registered Region
    Hong Kong
  • Operation Status
    Abnormal
  • Operating Period
    2021-02-24
  • Deposit Methods
    Not disclosed
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
    Chinese
  • Main Business
    Forex, precious metals, crude oil, futures, stocks, cryptocurrencies
  • Business Type
    Multi-asset broker
  • Social Media
  • Contact Details
  • Type of Accounts
    Standard, Demo
  • Trading Platforms
    MT4
  • Withdraw Methods
    CoinPay, U-Payment, UnionPay, Visa, MasterCard, Skrill, Neteller, POLi, Bitwallet, Bank wire
  • Auto Trading
    EA supported

Pros and Cons

Pros: Regulated by CGSE, diverse asset offerings, demo accounts available, good customer support through live chat. Cons: Lack of clarity on deposit and withdrawal methods, limited information on fees.

Company Background

Founded in February 2021, WCG Markets is a multi-asset broker based in Hong Kong. It offers a range of trading instruments, including forex, commodities, and cryptocurrencies. The firm is regulated by the Chinese Gold & Silver Exchange Society (CGSE), holding a Type A1 license, indicating a level of operational credibility.

Fund Security

WCG Markets adheres to regulations established by the CGSE, ensuring a certain level of protection for client funds. The broker reportedly maintains segregated accounts to safeguard clients' deposits. However, further details on specific compensation schemes or insurance coverage remain undisclosed.

Account Opening

WCG Markets provides both a standard and a demo account. The demo account allows traders to practice with virtual funds of up to $50,000. The exact requirements for account verification are not disclosed, indicating a potential area for improvement in transparency.

Trading Fees

The broker's fee structure lacks clarity, with spreads and commissions not explicitly stated on its official site. Traders are advised to inquire directly for comprehensive details on potential costs, including inactivity or withdrawal fees, which yet remain unverified.

Trading Instruments

WCG Markets offers a diverse range of trading instruments, including forex, precious metals, crude oil, futures, stocks, and cryptocurrencies. However, it does not appear to support options, ETFs, or mutual funds, which limits the trading options for some investors.

Trading Technology

The primary trading platform offered by WCG Markets is MT4, which is widely recognized for its robust trading capabilities. It is available on various devices, including mobile and desktop. The platform supports automated trading through Expert Advisors (EAs), enhancing trading efficiency for users.

Research and Education

Educational resources and research tools available on WCG Markets are not extensively covered. Further investigation may be necessary for traders seeking detailed market analysis or educational materials to enhance their trading knowledge.

Customer Support

Customer support is available through multiple channels, including phone, email, and live chat. Support is generally responsive according to user experiences, with the service accessible in both English and Chinese. However, user reviews indicate that responsiveness may vary depending on the inquiry.
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Rating Instructions
Rating Index
WCG Markets
WCG Markets
Regulated
Legal Environment
8.37
License Value
7.02
Risk Management
2.99
Investor Protection
8.83
Regulatory Policy
7.02
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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