Reviews

Wonderinterest Trading Ltd. Review [2022]

Wonderinterest Trading Ltd is a Cyprus Investment Firm supervised and regulated by the Cyprus Securities and Exchange Commission. Cyprus is the most popular jurisdiction for forex brokerages due to the well-balanced regulation. Wonderinterest ltd. Provides trading opportunities for clients in the environment of global markets. It was founded on May 29, 2014.

Wonderinterest review – products

They offer CFD trading, where you can invest in technology giants such as Microsoft, Alibaba, Alphabet or Netflix streaming services provider, CFD Indices, they allow you to track and trade the underlying index Dow Jones Average, S&P 500, Nasdaq Composite, DAX, EUROSTOXX 600 as many others. CFD Commodities which include oil and natural gas, also precious metals such as gold, silver and platinum and for those who prefer agricultural commodities, there is coffee, cocoa, wheat, and more. You can also trade CFD Forex and Physical Shares. Physical shares represent a share in the ownership of a company.

Regulation

As written on their website: “Wonderinterest Trading Ltd is a Cyprus Investment Firm (CIF) supervised and regulated by the Cyprus Securities and Exchange Commission (CYSEC)”. Also: “Wonderinterest Trading Ltd provides the following investment service in regard to the financial instruments stated further below in the EU Member states.”

Demo account

Using a demo trading account means that you don’t need to worry about losing money, you can learn and gain skills before you go live with trading. It’s a good educational tool for beginners. Like most brokers, Wonderinterest offers a demo account for you to learn, before you go live.

Fees

Broker fees can vary and change, there may be additional fees that are not mentioned in this review. The leverage is on average 1:5 and the spread is from 0.05. The commission on CFD is 20%. With CFD Indices the leverage is up to 1:20, spread in PIPS is various. The exact information about each product is nicely shown on their website.

Registration

You simply log in or register in the top right corner of their website. Although they offer a demo account, I haven’t come across a demo registration. So, I simply go for the normal, live, registration and see if I have the option there. A short form comes up for you to fill in.

That was filled in a minute. Once you send your information, you have access to “My Zone”.

Before activating the account, they need you to provide them with documents to verify your identity and residence. These are the documents for a personal account:

Proof of Identity – AUTHENTICATION OF CLIENTS

Copy of one of the following identification documents

Passport – the page with the photo (good visibility of MRZ lines);
Identity Card – both sides (good visibility of MRZ lines);
Driving license – both sides.

A copy must contain:

Full name (the same on the Passport/ID);
Date of birth (the same on the Passport/ID);
The identity document must be valid.

In My Zone you have the option to choose a demo account. This is what I’m going for, as I am a beginner and I need to learn first.

Trading

You can trade with the xStation Mobile app. All you need is your smartphone, a mobile application for trading. You can invest in technology giants such as Microsoft, Alibaba, Alphabet or Netflix streaming services provider on a mobile phone.

If you prefer, you can trade on your desktop. WonderInterest Trading Ltd uses trading on the MT5 platform, which is preferred by successful traders. MT5 offers intuitive buttons, suitable for both beginners and experienced traders. The MT5, the successor to the popular MetraTrader4 contains several innovations that will make trading simpler and more pleasant. You have 6 new types of pending orders, 38 technical indicators, 79 analytical tools for technical analysis, and you can also export data in an Excel file.

The broker’s website

I loved the website. The colors are dynamic and nice on the eye. No extra blabber and it’s very intuitive. At the top of the page you can log in or register, then it’s followed by a slide of 3 nice pictures and another option to “join”. Going further down, you can go to the mobile app, see their products or go to a trader’s guide. On the top right, there is also an option to translate the website into Czech, Slovak, Hungarian or Croatian. Therefore, traders, speaking these languages can easily access the markets.

They have written a few words about them and then Green Investments to which they have said:” We have analysed the TOP 10 “green investments” and focused on companies that we consider to be pioneering in the market while adhering fundamentally to the principles of ESG and sustainable development.” and put some videos for you to understand more.

And the last part of the main page is a link to information about the platform. The footer has links to the Traders guide, Company profile, Products and legal information. The traders guide is for newbies like me and there they explain what products they have and what they do.

Then based on your experience, you can select your level of knowledge and get the right information you need.

Everything works well, fast and without any problems.

Social media

They offer to visit Facebook, Instagram, Twitter and Linked In. On Facebook the last post is a few days old. But it looks like it’s not very popular as there are only around 90 followers. The Instagram link didn`t work (from the footer) and LinkedIn is up and going with information about the company. And when I clicked on the Twitter link, I was taken back to the trader’s guide.

Advantages and disadvantages

Although the website seems great there are a few spots I was unhappy about or I even found missing. There is no chatbot you could speak to, but there is a contact form you can fill in, if you need to speak to someone about a problem. There is an address and a telephone number too. They offer a demo account, which is great, and the registration took only a few minutes. But then, the demo wasn`t working, so I didn’t get anywhere. They offer a mobile app and a desktop platform on android or IOS. From what I have seen the MT5 works fine and well. They offer CFD trading and physical shares. The website is simple and well-designed, but the social accounts aren’t active and some of the links from their website don’t lead you to them. It looks fine, but it seems like it’s just not “finished”.