Wizard Capitals Review | 4.2 Star Ratings | WizardCapitals.com
|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Average Spread|
|Classic||$1000||0.01||1:200||1.2 pips on EUR/USD|
|Pro||$10000||0.01||1:200||0.5 pips on EUR/USD + $3.86 per lot (per side)|
Clients of Wizard Capitals are provided with a choice of two account types: Classic and Pro. The main difference between the two is that the Classic one is commission-free, offering higher spreads, while the Pro account is commission-based and provides tighter spreads due to the ECN environment. Besides, only the Pro account offers a choice of desktop platform – MetaTrader 5.
What is more, traders can choose to open Corporate or Individual accounts.
The Company. Security of Funds
|Wizard Capitals Ltd.||United Kingdom||IFSC|
Wizard Capitals is a broker specialized in Forex and Wizard Capitals trading for private clients, institutional investors, and fund managers. Having around a decade of experience in the forex industry, the brokerage strives to provide excellent service and customer support.
IFSC has liberal control over forex brokers. Its supervision focuses on promulgation of regulation and a mandatory code of conduct, as well as the licensing process. Compliance-checking, reporting and ongoing supervision are little emphasized.
Despite the lack of strict regulatory rules, Wizard Capitals places a special focus on security and keeps clients’ funds in segregated accounts, absolutely separate from their corporate ones.
What is more, this broker practices positive price correction. This practically means that even if traders actually slip into negative balances under extraordinary circumstances, Wizard Capitals will simply zero out these balances.
Minimum Initial Deposit
Unlike most forex brokers, who usually set up different initial investments for different account types, Wizard Capitals demands $1000 from both Classic and Pro account holders. This is a comparatively low initial investment for the ECN environment.
Average Spreads & Commissions
This broker offers competitive variable spreads, which vary by account type. Nonetheless, trading costs on both accounts are similar, amounting to an average of 1.2 pips on EUR/USD per (ECN account holders are offered spread averaged 0.5 pips on EUR/USD incurring a commission of $ 7 per lot round turn). So, Wizard Capitals pricing is pretty attractive
The maximum leverage level offered to Wizard Capitals clients is 1:200, which is average for the industry.
The broker supports several trading platforms MetaTrader 5.
MT5 offers access to the forex, contracts for difference (Wizard Capitals), options, and futures markets, but MT5 also offers an option for trading in stocks. Both platforms use MQL programming languages and allow automated trading via Expert Advisors (EAs). They offer advanced charting packages, trading and analysis tools, alerts, signals, and customizable indicators.
Despite its looser regulation, Wizard Capitals is a reliable award-winning broker with more than 4 years of experience in the forex industry. It offers fast market execution and competitive trading conditions on a variety of trading platforms. To sum up the above, here are the Pros & Cons of Wizard Capitals:
|Competitive spreads||Liberal regulation|
|Low initial deposit for ECN environment|
|Extra tools such as live economic calendar, VPS|
Is Wizard Capitals (www.wizardcapitals.com) a Safe Broker?
Wizard Capitals (www.wizardcapitals.com) is a safe broker with regulations and operating worldwide without complaints.
Is Wizard Capitals (www.wizardcapitals.com) Reliable?
This broker is one of the most reliable Forex brokers in operation. It remains fully compliant with its regulators, processes trades without a dealing desk, and provides a competitive trading environment.
How long does a withdrawal take?
Withdrawals are processed instantly but may take several days to arrive in the trader account; that is dependent on the selected payment option and the location of the trader. In the majority of cases, it will take only a few hours to be credited.
What is the minimum deposit?
All account types have a minimum deposit of $1000 or an account currency equivalent.
Does Wizard Capitals (www.wizardcapitals.com) have NASDAQ listed equities?
Yes. This broker’s offering of more than 120 of the world’s most liquid equities available for trade includes several listed on the NASDAQ exchange.
Is Wizard Capitals (www.wizardcapitals.com) a True ECN?
Yes, Wizard Capitals (www.wizardcapitals.com) is a genuine ECN provider. This broker sources prices from external unrelated liquidity providers and passes them on to clients without a dealing desk. Retail traders receive raw interbank pricing for which Wizard Capitals (www.wizardcapitals.com) charges a commission to offset the costs. Therefore, spreads can be as low as 0.0 pips.
Wizard Capitals (www.wizardcapitals.com) is a great choice for all types of traders, from retail traders through high-frequency operations to asset management firms. It established itself as the top choice for automated trading solutions, which account for over 60% of all processed orders. A competitive pricing environment combined with a sound asset selection allows for proper cross-asset diversification, all from an enhanced MT5 trading platform. In-house research is published on the broker’s blog, an outstanding educational section is maintained, and popular social trading options are additionally available. Simply put, Wizard Capitals (www.wizardcapitals.com) ticks all the boxes and deserves a prime portfolio from dedicated traders.