WGP Markets is a contract for difference (CFD) broker with its official domain registered on June 29, 2024. It primarily offers financial derivative trading services in forex, precious metals, crude oil, indices, and cryptocurrencies to retail and institutional clients. This broker does not provide services in jurisdictions where it may violate local laws or regulations.
Background of WGP Markets:
WGP Markets is a financial trading platform headquartered at 286 Euston Road, London, according to information available on its official website. Moreover, WGP Markets claims to be regulated by the U.S. Financial Crimes Enforcement Network (FinCEN) with MSB ID 31000275823577. FinCEN, a bureau of the U.S. Department of the Treasury, oversees and combats financial crimes, ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations. Being regulated by FinCEN signifies that WGP Markets must adhere to stringent financial compliance standards, ensuring transparency and legality in its operations.
Furthermore, WGP Markets asserts that it operates under the regulation of the Financial Industry Regulatory Authority (FINRA). FINRA is a non-governmental organization responsible for overseeing and regulating brokerage firms and traders in the U.S. Being regulated by FINRA means the company must follow strict industry standards and codes of conduct to ensure the safety of its clients' investments and the fairness of the market.
Trading Products of WGP Markets:
WGP Markets offers a variety of trading products, including forex, precious metals, crude oil, indices, and cryptocurrencies.
- Forex: Provides dozens of major currency pairs, including EUR/USD, USD/CAD, GBP/USD, and USD/JPY.
- Precious metals: Offers various spot metal trades, including gold (XAUUSD) and silver (XAGUSD).
- Crude oil: Provides U.S. crude oil (UsOIL) trading.
- Indices: Nikkei 225 (N225), Germany 30 (GER30), Standard & Poor's 500 (US500).
- Cryptocurrencies: Includes major cryptocurrency pairs like Bitcoin (BTC/USD), Ethereum (ETH/USD), and Ripple (XRP/USD).
Account Opening Process of WGP Markets:
To open an account with WGP Markets: Visit the official website, click the "Open Account" option on the homepage or at the top right corner, fill in personal details like name, email address, phone number, and set a login password. Then, upload the front and back of your ID and submit the application form. Once the application is submitted, the account registration will be successful.
Account Information of WGP Markets:
The official website of WGP Markets only discloses information about spreads and trading leverage, without providing details on account types, trading commissions, minimum/maximum trading volumes, maximum position/order sizes, margin call/stop-out levels, minimum price precision, and contract size.
- Spreads: Floating spreads starting from 1 pip
- Leverage: 1:100
Trading Platform of WGP Markets:
WGP Markets offers the ST5 trading platform, available on both desktop and mobile, to cater to different traders' needs. The platform claims to provide over 50 technical indicators, including moving averages (MA) and the Relative Strength Index (RSI), to assist traders in market analysis. The ST5 platform is also equipped with intraday analysis tools, offering real-time market data and price trend analysis suitable for short-term operations. Additionally, it supports automated and algorithmic trading, featuring advanced order types aimed at enhancing trading efficiency and execution speed, thus providing comprehensive trading support for both beginners and advanced traders.
Conclusion:
WGP Markets demonstrates its strength in the financial trading domain by offering a broad range of trading products and a robust platform, providing investors with diverse and flexible investment options, making it a trading platform worth considering. WGP Markets is listed as "Active" on TraderKnows.
