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About company:
WH SelfInvest was founded in 1998. Traders can trade a variety of instruments: currencies, CFDs, futures and securities.
Security of funds
The broker is owned by WH SELFINVEST SA, which is licensed by the Luxembourg Ministry of Finance. The broker has established branches in Belgium, the Netherlands, France, Germany and Switzerland, which are also controlled by local regulatory authorities.
Client funds are segregated from company funds and are accounted for on an individual basis. More importantly, in the event of the failure of a bank or investment company, clients are protected by the Luxembourg Client Compensation System (SIIL). It guarantees a return on investment of up to € 20,000 for each investor.
Trading conditionsMinimum deposit
Traders can open a live account with WH SelfInvest from € 2,500. Most brokers offer around $ 200, and some allow trading from $ 1. This high initial deposit is likely due to the broker providing access to numerous futures exchanges in addition to standard Forex and CFD trading.
Spreads and commissions
WH SelfInvest offers both fixed and variable spreads. While most brokers do not charge commission on fixed spread accounts, WH SelfInvest does the opposite. It offers accounts with a fixed spread of 1.0 pips on EUR / USD and charges a commission of € 3.5 per lot per side. On the other hand, its floating spreads start at 0.9 pips, with other brokers offering around 1.7 pips on the EUR / USD pair.
Leverage
The maximum leverage offered by WH SelfInvest is only 1:50. This is considered low leverage. In fact, this is the maximum allowed in the United States, and recently the British regulator proposed increasing the leverage to 1:50. If you need a higher leverage, many brokers offer 1: 1000.
Trading platforms
WH SelfInvest supports the standard MetaTrader 4 (MT4) platform and also offers its own NanoTrader.
NanoTrader is an award winning platform for trading futures, currencies and CFDs. It is available on both PC and mobile devices. In addition, there are two terminal options available: NanoTrader Full (costs € 29 per month) and NanoTrader Free, which offers somewhat limited functionality.
The platform offers the following set of trading tools: advanced mapping package, weekly trading articles, weekly trading ideas, automated technical analysis based on statistics, indicators and strategies, etc. Moreover, the NanoTrader platform offers manual and (semi) automated trading and over 45 free trading strategies integrated into the platform.
WH SelfInvest also uses the popular MT4, a world renowned trading terminal offering a full range of tools and services for trading: a range of built-in technical indicators, an extended set of charts, a wide range of Expert Advisors (EAs). Traders can download ready-made or create their own advisors and let the program do all the work. Both desktop and mobile versions are available. Please be aware that it is not possible to trade futures on the MT4 platform.
You can also use VPS hosting for 60 euros per month.
Ways of payment
WH SelfInvest offers the following deposit and withdrawal methods: wire transfer, credit / debit cards, checks.
One free withdrawal request is allowed per calendar month. After the first withdrawal (of any kind), depending on the base currency of your account, the following fee will be charged for any subsequent withdrawal: € 8, US $ 10 or CHF 11.
As part of the fight against money laundering, WH only accepts incoming transfers through Banque Internationale à Luxembourg SA or ING Luxembourg SA, and only if the accompanying instructions indicate the beneficiary's name and / or WH account number.
Pros:
regulated broker; a variety of trading instruments, access to numerous futures exchanges; selection of trading platforms available MT4.
Minuses:
small amount of leverage; high initial deposit; commission applies to fixed spreads.
WHSELFINVEST is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
WHSELFINVEST profits from traders' trades, usually in two main ways
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First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. WHSELFINVEST received a score of 1 of 5 on our resource.