WH SelfInvest Review 2024
Website: www.whselfinvest.com
Min. Deposit: US$ 500
Leverage: 1:30
Trading Platforms: MT4, NanoTrader, NinjaTrader
Regulation: CSSF, ACPR, BaFin
Headquarters: Luxembourg
Founded: 1998
Updated on March 11, 2024
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In our comprehensive review process, we meticulously analyze and evaluate forex brokers by comparing them across a wide range of criteria. Our evaluation includes an in-depth examination of their regulatory status, fee structure, trading platforms, account types, customer service, and overall trading experience. By conducting detailed research and practical testing, including comparisons with over 1000 brokers, we aim to provide a clear and unbiased review to help traders make informed decisions.
WH SelfInvest is a distinguished European online broker specializing in Forex and CFD trading and investment services. The broker offers an extensive selection of trading instruments such as Forex, CFDs, stocks, options, and futures. With its headquarters located in Luxembourg, WH SelfInvest is regulated and authorized by the Commission de Surveillance du Secteur Financier (CSSF). The company further extends its presence with branches in France and Germany, where it is authorized by the French Prudential Supervision and Resolution Authority (ACPR) and the Federal Financial Supervisory Authority (BaFin) respectively, ensuring a wide regulatory coverage and enhanced client security.
Pros
Offers a wide variety of financial instruments for diversified trading.
Provides access to advanced trading platforms, including the widely used MT4.
Holds regulatory licenses from reputable European financial authorities, ensuring high standards of compliance and client protection.
Cons
Requires a higher minimum deposit compared to other brokers.
The fee structure, including trading commissions and other costs, can be complex and requires careful consideration.
Is WH SelfInvest Safe or a Scam? ▲
WH SelfInvest stands out as a reputable and secure broker, backed by regulatory licenses from the CSSF, ACPR, and BaFin. These regulatory bodies enforce stringent rules and provide robust client protection measures, making WH SelfInvest a safe choice for traders. The wide regulatory coverage and compliance with high standards of financial practices affirm the broker's commitment to providing a secure trading environment.
Leverage is a powerful trading tool that allows traders to access larger market positions with a relatively small capital investment. However, it's important to understand the risks associated with leveraged trading, as it can amplify both gains and losses. WH SelfInvest offers leverage in line with CSSF, ACPR, and BaFin regulations, permitting European traders to use a maximum leverage of up to 1:30 for major currency pairs. This regulated approach ensures that traders have access to beneficial leverage levels while maintaining a balance with risk management.
Per our extensive analysis, the broker offers a diverse range of specialized account types designed to cater to various trading preferences. Traders have the option to choose a Forex and CFD account, which allows for the trading of currency pairs and contracts for difference. Additionally, the broker provides a Futures account for those interested in trading futures contracts. For investors with a focus on stocks, WH SelfInvest offers an Investment account, enabling users to partake in stock trading.
WH SelfInvest grants access to a wide array of popular trading instruments, including Forex, CFDs, Stocks, Options, and Futures. This enables traders to diversify their investment portfolios and engage in multiple markets tailored to their individual trading strategies and preferences. The WH SelfInvest Markets Range Score is recalibrated to 4.0 out of 5, highlighting the broker’s extensive offering and its capacity to provide unique investment opportunities.
Upon reviewing the broker's fee structure, it's evident that WH SelfInvest encompasses various aspects of trading costs. The broker imposes trading commissions, particularly for specific instruments like Forex and CFDs. Traders should also consider bid-ask spreads, which could significantly affect total trading expenses, especially in fast-moving markets. Despite having a competitive fee structure, it's important for traders to be cognizant of other potential costs, such as account-related fees or expenses linked to certain trading platforms. WH SelfInvest's fees receive an average score of 3.9 out of 5 after our evaluation and comparison with over 1000 other brokers.
Our evaluation reveals that the broker offers both competitive fixed and variable spreads, with an average spread of 1 pip for the EUR/USD currency pair in the Forex market. Nonetheless, spreads are subject to change based on market conditions, volatility, and liquidity levels. Therefore, traders are encouraged to verify the current spreads for specific instruments and account types either through the broker’s website or by contacting customer support. WH SelfInvest's spreads are assessed as low to average, achieving a score of 4.0 out of 5 based on our comparative analysis with other brokers. The broker's Forex spreads are notably lower than the industry average of 1.2 pips, and the spreads for other instruments are also found to be competitive.
In our comprehensive research, we have identified that the broker offers a variety of specialized account types to accommodate the diverse trading needs of its clients. Traders can select a Forex and CFD account for trading currency pairs and contracts for difference. Moreover, the broker provides a Futures account for those interested in futures contracts trading. For investors who prioritize stock trading, WH SelfInvest avails an Investment account, allowing for direct engagement in stock markets.
Opening WH SelfInvest Trading Account ▲
Initiating an account with the broker is a straightforward process. Prospective clients can easily register with WH SelfInvest within minutes by following the steps below:
Navigate and click on the “Open an Account” page
Fill in the required personal details (Name, email, phone number, etc.)
Upload necessary documentation for data verification (proof of residence, ID, etc.)
Complete an electronic quiz to confirm your trading experience
Once your account is verified and activated, you can proceed with depositing funds.
WH SelfInvest facilitates access to a variety of popular trading instruments, such as Forex, CFDs, Stocks, Options, and Futures. This enables traders to diversify their portfolios and participate in different markets based on their individual preferences and trading strategies. The WH SelfInvest Markets Range Score has been recalibrated to 4.0 out of 5, reflecting the broker's comprehensive offering and its ability to present unique investment opportunities.
Our analysis of the broker's fee structure reveals that WH SelfInvest encompasses a range of trading costs. The broker applies trading commissions, especially for certain instruments like Forex and CFDs. Traders are advised to also take into account bid-ask spreads, which could significantly influence overall trading expenses, especially in volatile markets. Despite WH SelfInvest's competitive fee structure, traders should remain aware of other potential costs, such as account-related fees or charges linked to specific trading platforms. WH SelfInvest's fees are deemed average, with a score of 3.9 out of 5, following our scrutiny and comparison with over 1000 brokers.
Our test trades indicate that the broker provides both competitive fixed and variable spreads, with an average of 1 pip for the EUR/USD currency pair in the Forex market. However, it's important to note that spreads may fluctuate based on market dynamics, volatility, and liquidity. Traders are encouraged to consult the broker’s website or contact customer support for up-to-date information on spreads for specific instruments and account types. WH SelfInvest's spreads are rated as low to average, with a score of 4.0 out of 5 in our comparison to other brokers. The broker’s Forex spreads are notably below the industry standard of 1.2 pips, and spreads for other instruments are competitive as well.
Following our comprehensive analysis, this broker ensures a variety of funding methods, accommodating deposits and withdrawals with ease and security. Traders are presented with several options including bank transfers, credit/debit card payments, and several electronic payment solutions, allowing for a selection that best fits their convenience and security needs.
In terms of WH SelfInvest funding methods, we awarded a commendable score of 4.0 out of 5. The broker stands out for its low fees and support for multiple account currencies, enhancing the trading experience.
Pros
Multiple funding options
Low transaction fees
Supports various account currencies
Cons
No mention of cryptocurrency funding options
WH SelfInvest Minimum Deposit
The broker sets a minimum deposit requirement at €500, providing a relatively accessible threshold for traders to commence their investment journey. While some competitors offer lower entry points, WH SelfInvest balances this with a robust trading environment.
WH SelfInvest Withdrawals
Our evaluation reveals a streamlined withdrawal process, facilitating quick access to funds. The broker supports diverse withdrawal methods, including bank transfers and electronic payments, detailed on their website and via customer support.
To withdraw funds from WH SelfInvest, follow these steps:
1. Log into your account
2. Navigate to 'Withdraw Funds' in the menu
3. Input the amount to withdraw
4. Select your preferred withdrawal method
5. Fill in the electronic request form
6. Verify withdrawal details and submit
7. Monitor the withdrawal status through your Dashboard
WH SelfInvest caters to a wide range of trading preferences with its diverse platform offerings. The broker provides access to the renowned MT4 platform, celebrated for its advanced charting, analysis tools, and algorithmic trading capabilities. In addition, traders have the option of the proprietary NanoTrader platform and the advanced NinjaTrader, accommodating varied trading requirements and preferences.
The WH SelfInvest Platform is recognized with a score of 4.3 out of 5, standing out amongst a comparison with 1000 other brokers for its comprehensive trading platforms.
WH SelfInvest NanoTrader
NanoTrader, the broker's proprietary platform, is appreciated for its user-friendly design and extensive features. It addresses the needs of both beginner and experienced traders through advanced charting tools, technical analysis, and automated trading features. NanoTrader is designed for efficiency and simplicity, making it a top choice for a broad spectrum of financial instruments.
The broker provides 24/5 customer support through live chat, email, and phone, supplemented by a team of trading experts for technical support, analysis recommendations, and general inquiries. WH SelfInvest's customer service is rated at 3.95 out of 5, reflecting responsive and effective support during operational hours.
WH SelfInvest is committed to trader education, offering a wide spectrum of resources including webinars, seminars, and articles. These materials cover from fundamental trading concepts to advanced strategies, supported by market analyses and insights to enrich traders' market understanding. The broker’s educational offerings are rated at 4.0 out of 5, indicative of high-quality materials suitable for traders at all levels.
To conclude, WH SelfInvest emerges as a reputable broker, adhering to rigorous regulatory standards and offering a diverse selection of trading instruments and platforms like NanoTrader and MT4. The regulatory framework under which it operates ensures a transparent and secure trading environment.
In summary, the broker provides a solid foundation for traders seeking a dependable and versatile trading experience, especially within the European regulatory sphere. Nonetheless, it's advisable for traders to conduct their research and determine if the broker's services align with their trading needs.
Based on our findings and expert opinions, WH SelfInvest is recommended for:
European traders
Currency trading
Professional trading
Investing
Beginners
Advanced traders
Competitive spreads
Quality education and research
EA/Auto trading
Comprehensive trading tools
