Review of WH SelfInvest: Regulations, Trading Platforms, Instruments, Benefits and drawbacks

WH SelfInvest is a well-established broker known for its expertise in ECN and forex trading. This comprehensive review will provide you with insights into their offerings, including their proprietary NanoTrader platform, customer support, spreads, and leverage options. Before you embark on your trading journey with WH SelfInvest, make sure you have all the essential information at your fingertips.

WH SelfInvest Overview

Founded in 1998, WH SelfInvest S.A is a prominent broker headquartered in Luxembourg. Over the years, it has grown to become one of Europe's largest forex and CFD brokers, with offices in major financial hubs like Frankfurt, Paris, and Zürich. Serving clients in more than 28 countries, WH SelfInvest offers a diverse range of assets, including equities, CFDs, and forex options.

WHS NanoTrader Platform

WH SelfInvest distinguishes itself with its exclusive trading platform, WHS NanoTrader, available in both free and premium versions: NanoTrader Free and NanoTrader Full. The premium version, priced at €29 per month, caters to advanced traders with its enhanced features. Both versions provide direct market access and boast an intuitive interface, along with advanced charting and technical analysis tools.

Notable features of NanoTrader include:

• 80 free trading strategies and signals
• Robust order placement and management tools
• Multiple trailing stops and target orders
• Versatile charting options, including TwinCharts
• Stock screeners
• Volume profile analysis
• Integration with TradingView

Additionally, WH SelfInvest offers access to other platforms, such as MT4 for forex trading, and NinjaTrader and SierraCharts for futures trading. Webtrader platforms and cloud trading are also available, with cloud trading fees reducing as your trading activity increases.

WH SelfInvest Assets

Traders at WH SelfInvest can access a diverse selection of over 5,000 products spanning three key asset classes: futures, CFDs, and stocks. You have the flexibility to trade CFDs on major commodities, bonds, and ETFs. Alternatively, you can engage in forex trading with up to 69 currency pairs or invest in low-cost stocks across 120 market centers in 26 countries.

Spreads & Fees

WH SelfInvest offers two account types: Mini and Standard. The Mini account offers a competitive variable spread, while the Standard account employs a simple flat fee commission of $0.035 per $1,000 traded. Spreads are in line with industry standards, with major market indices starting at 0.3 points and average forex spreads around 2 pips for major currency pairs.

There are no monthly inactivity fees, and modifying or canceling orders incurs no additional charges. However, it's worth noting that the VPS service costs €60 per month, in addition to the €29 monthly fee for NanoTrader Full.

Leverage

WH SelfInvest offers a maximum leverage of 1:50 across CFDs, futures, and stocks. Leverage for precious metals and other commodities is set at 1:33 and 1:20, respectively. While lower leverage levels reduce risk, experienced traders may find this limiting. Detailed CFD margin requirements are available on the broker's website.

Mobile Apps

Both the NanoTrader and MetaTrader 4 platforms are available for download on smartphones and tablets, providing traders with the flexibility to manage their portfolios on-the-go. These mobile platforms offer real-time market data, speedy order execution, and advanced charting capabilities. The apps are accessible for free on the iOS store and Google Play Store and generally receive positive user reviews.

Payment Methods

WH SelfInvest exclusively supports bank wire transfers for deposits, without options for credit/debit card payments or online payment wallets like AliPay, Neteller, or Skrill. Transfer costs amount to €5 for amounts under €30,000 and 0.10% (with a maximum of €50) for amounts exceeding €30,000. The minimum initial deposit required to open an account is €500. Transfers can be initiated by completing the transfer form available on the broker's website.

Demo Account

For those looking to test the waters, WH SelfInvest offers a complimentary demo account for the NanoTrader platform. This risk-free option allows traders to explore new strategies, such as the Friday Gold rush and range breakouts, and evaluate the broker's support services before committing any funds.

Bonuses

WH SelfInvest does not offer promotional deals or bonuses, in line with European regulations that restrict brokers from providing no deposit welcome bonuses and similar incentives. However, traders can take advantage of a free demo account and access a variety of webinars brimming with valuable tips and industry updates.

Regulation

WH SelfInvest operates under the jurisdiction of multiple European regulatory bodies due to its presence in various European countries. The broker is regulated by:

• CSSF and the Luxembourg Ministry of Finance (Luxembourg)
• FSMA (Belgium)
• AFM (Netherlands)
• ACPR (France)
• BaFin (Germany)
• FINMA (Switzerland)

These regulatory affiliations underscore WH SelfInvest's commitment to maintaining a secure and trustworthy trading environment.

Additional Features

In addition to its core offerings, WH SelfInvest provides an array of free, supplementary services to support traders, including:

• APIs
• SignalRadar
• TradingView integration
• Market news updates
• Support forums
• Stock box service
• Trading library & store
• Webinars and seminar videos

WH SelfInvest Accounts

WH SelfInvest offers two account types: a spread-based account and a commission-based option. The spread-based account features a variable spread per trade (typically around 2 pips). In contrast, the commission-based account offers more competitive spreads, starting at 1 pip, but requires traders to pay a set commission of $0.035 per $1,000 traded. The minimum deposit, trading tools, and customer support remain consistent across both account types.

Trading Hours

Trading hours vary depending on the asset and market being traded. Forex contracts can be traded 24 hours a day from Sunday to Friday evening. Most CFDs follow the opening hours of their underlying instruments. You can find detailed trading hours by visiting the Symbol details section on the WH SelfInvest website.

Contact Support

WH SelfInvest boasts a responsive customer service team, accessible via multiple channels:

• Phone hotline: +352 42 80 42 80
• Email: info@whselfinvest.com
• Live chat: Available through the 'chat' button on their website

Customer support is multilingual, ensuring that clients from various backgrounds can receive assistance in their preferred language.

Security

WH SelfInvest prioritizes the security of client funds by maintaining segregated accounts with reputable banks. Only transfers signed by the account holder are accepted, and the broker does not charge conversion commissions. As a broker regulated by renowned regulatory bodies, WH SelfInvest instills confidence in clients regarding the safety of their funds.

Benefits and drawbacks

Benefits

• All trading strategies, including scalping and hedging, are permitted.
• The award-winning proprietary trading platform, NanoTrader, offers reliability and advanced features.
• Traders can expect minimal slippage and no requotes.
• Reliable customer service is readily available.
• Access to the popular MT4 platform.

Drawbacks

• VPS charge and platform fees may impact overall trading costs.
• The absence of MetaTrader 5 may be a limitation for some traders.
• WH SelfInvest does not cater to clients from the US, Australia, or Belgium.
• Cryptocurrency and Bitcoin trading are not available through this broker.

WH SelfInvest presents traders with a diverse range of assets, competitive spreads, and an elite trading platform in the form of NanoTrader. However, it's important to consider the associated fees, particularly the VPS charge and platform fees, which may deter some potential traders. When comparing WH SelfInvest to other brokers like IGmarkets, Interactive Brokers, and CapTrader, it's crucial to assess your specific needs and trial the services before making any financial commitments.

WH Selfinvest Broker Details

Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.