Overview of WANJIN

WANJIN is a forex and CFD broker headquartered in Hong Kong. It was founded in 2000. WANJIN offers a wide range of trading products, including forex, CFDs on stocks, indices, and commodities. It also offers a variety of trading accounts, including Standard, ECN, and VIP.

WANJIN's spreads start from 0.1 pips, and its maximum leverage is 1:500. It offers a variety of trading platforms, including MetaTrader 4 and MetaTrader 5. WANJIN also offers a variety of deposit and withdrawal methods, including credit/debit cards, wire transfers, and e-wallets. Its customer support is available 24/5 via live chat and email. It also offers a variety of educational resources, including trading guides, webinars, and video tutorials.

Overall, WANJIN is a good choice for traders who are looking for a forex and CFD broker with a wide range of trading products, competitive spreads and leverage, and a variety of trading platforms, deposit and withdrawal methods, and educational resources.

Pros and Cons

Pros:

• Wide range of trading products: WANJIN offers a wide range of trading products, including forex, CFDs on stocks, indices, and commodities. This makes it a good choice for traders who want to trade a variety of different markets.

• Competitive spreads and leverage: WANJIN's spreads start from 0.1 pips, and its maximum leverage is 1:500. This is competitive with other forex and CFD brokers.

• Variety of trading platforms: WANJIN offers a variety of trading platforms, including MetaTrader 4 and MetaTrader 5. These platforms are popular among traders for their user-friendly interface and powerful features.

• 24/5 customer support: WANJIN's customer support is available 24/5 via live chat and email. This is important for traders who need help with their accounts or trading strategies.

Cons:

• Not regulated by a major financial authority: WANJIN is not regulated by a major financial authority, such as the FCA or ASIC. This means that there is less protection for traders if something goes wrong.

• Limited information about the company's operations: There is limited information about WANJIN's operations and financial health. This can make it difficult for traders to assess the risk of trading with WANJIN.

• Some complaints about customer support: There have been some complaints about WANJIN's customer support, including slow response times and difficulty resolving issues.

Overall, WANJIN has a number of pros, but it is important to be aware of the cons, especially the lack of regulation and the limited information about the company. Traders should carefully weigh the pros and cons before deciding whether or not to trade with WANJIN.

Regulatory Status

The China Hong Kong CGSE regulation (license number: 070) claimed by this broker is suspected to be clone. This means that the broker is not required to follow any specific rules or regulations, and there is no government agency that is responsible for overseeing the broker's activities.

There are a number of reasons why a broker may not be regulated. For example, the broker may be located in a jurisdiction that does not have any financial regulations, or the broker may be a new broker that has not yet applied for a license.

It is important to note that a broker without any regulated licenses is a high-risk broker. This is because there is no one to protect traders if something goes wrong. For example, if the broker goes bankrupt, traders may lose all of their money.

Market Instruments

WANJIN offers a wide range of market instruments, including:

• Forex: WANJIN offers over 60 currency pairs to trade, including all of the major and minor pairs, as well as a number of emerging market currencies.

• CFDs on stocks: WANJIN offers CFDs on over 10,000 stocks from around the world, including the US, UK, Europe, Asia, and Australia.

• CFDs on indices: WANJIN offers CFDs on a variety of stock indices, including the S&P 500, Dow Jones Industrial Average, Nasdaq 100, FTSE 100, DAX, and Nikkei 225.

• CFDs on commodities: WANJIN offers CFDs on a variety of commodities, including gold, silver, oil, gas, and wheat.

This wide range of market instruments makes WANJIN a good choice for traders who want to trade a variety of different markets.

Account Types

WANJIN offers three main account types: Standard, ECN, and VIP.

Standard Account

The Standard account is the most basic account type offered by WANJIN. It has a minimum deposit of $100 and a maximum leverage of 1:100. The Standard account also has wider spreads than the other account types.

ECN Account

The ECN account is designed for more experienced traders. It has a minimum deposit of $500 and a maximum leverage of 1:200. The ECN account also has tighter spreads than the Standard account, but it charges a commission on trades.

VIP Account

The VIP account is designed for the most experienced traders. It has a minimum deposit of $10,000 and a maximum leverage of 1:500. The VIP account also has the tightest spreads of all of the account types, and it charges a lower commission on trades.

In addition to these three main account types, WANJIN also offers a demo account. The demo account is a virtual account that allows traders to practice trading with virtual money. This is a good way for new traders to learn how to trade forex and CFDs without risking any real money.

Here is a table summarizing the key features of each account type:

How to Open an Account？

To open an account with WANJIN, follow these steps:

1. Go to the WANJIN website and click on the “Open Account” button.

2. Fill out the account opening form with your personal information, including your name, address, email address, and phone number.

3. Choose the account type you want to open.

4. Deposit funds into your account.

5. Once your deposit is processed, you can start trading.

Leverage

The maximum leverage offered by WANJIN is 1:500. This means that traders can control $500 for every $1 they invest.

Leverage can be a powerful tool for traders, but it is important to use it carefully. Leverage can amplify both profits and losses, so it is important to manage your risk carefully when using leverage.

Here are some things to keep in mind when using leverage:

• The higher the leverage, the greater the risk of loss.

• You should only use leverage if you can afford to lose the money you have invested.

• You should have a sound trading plan in place before you start using leverage.

• You should use stop-loss orders to limit your losses.

If you are new to trading, it is important to start with a low leverage level, such as 1:50 or 1:100. Once you have gained more experience, you can then consider using higher leverage levels.

It is also important to note that WANJIN is not a regulated broker. This means that there is less protection for traders if something goes wrong. It is important to be aware of the risks involved before trading with WANJIN.

Spreads & Commissions

WANJIN's spreads start from 0.1 pips for major currency pairs, such as EUR/USD and GBP/USD. Spreads for other currency pairs and CFD instruments may be wider.

WANJIN charges a commission on ECN trades. The commission for ECN trades is 0.01% per side.

Here is a table summarizing WANJIN's spreads and commissions:

Trading Platform

WANJIN offers two trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

MT4 is a popular trading platform that is used by millions of traders around the world. It is known for its user-friendly interface and powerful features. MT4 offers a wide range of charting and analysis tools, as well as a variety of order types and execution modes.

MT5 is a newer trading platform that is based on MT4. It offers all of the same features as MT4, as well as a number of additional features, such as a built-in economic calendar and a market depth window.

Both MT4 and MT5 are available for desktop, mobile, and web. This means that you can trade from anywhere in the world.

Deposit & Withdrawal

WANJIN offers a variety of payment methods for depositing and withdrawing funds, including:

• Credit/debit cards

• Wire transfers

• E-wallets, such as Skrill and Neteller

The minimum deposit required for a Standard account is $100, and the minimum deposit required for an ECN or VIP account is $500. There are no fees for depositing or withdrawing funds.

However, it is important to note that WANJIN is not a regulated broker. This means that there is less protection for traders if something goes wrong. It is also important to note that CFDs are leveraged products, which means that traders can lose more money than they invest.

Customer Support

WANJIN offers 24/5 customer support via live chat and email. The customer support team is available to answer your questions and help you resolve any problems you may have.

However, there have been some complaints about WANJIN's customer support, including slow response times and difficulty resolving issues.

Here are some tips for getting the most out of WANJIN's customer support:

• Be specific when describing your problem.

• Provide as much information as possible about the problem, including any error messages you have received.

• Be patient and polite.

If you are not satisfied with the response you receive from the customer support team, you can escalate the issue to a manager.

Overall, WANJIN's customer support is average. It is important to be aware of the potential for slow response times and difficulty resolving issues.

Educational Resources

WANJIN offers a variety of educational resources to help traders learn about forex and CFD trading. These resources include:

• Trading guides: WANJIN offers a variety of trading guides on topics such as forex basics, technical analysis, and risk management.

• Webinars: WANJIN hosts regular webinars on a variety of trading topics.

• Video tutorials: WANJIN offers a variety of video tutorials on topics such as how to use the MetaTrader 4 trading platform and how to place trades.

These resources are available to all WANJIN clients, regardless of their account type.

Conclusion

WANJIN is a forex and CFD broker that offers a wide range of trading products, competitive spreads and leverage, and a variety of trading platforms, deposit and withdrawal methods, and educational resources. However, it is important to note that WANJIN is not regulated by a major financial authority, and there is limited information about the company's operations. There have also been some complaints about customer support.

Overall, WANJIN is a good choice for traders who are looking for a forex and CFD broker with a wide range of trading products, competitive spreads and leverage, and a variety of trading platforms, deposit and withdrawal methods, and educational resources. However, it is important to be aware of the risks involved, especially the lack of regulation.

Traders should carefully weigh the pros and cons before deciding whether or not to trade with WANJIN. If you are concerned about the lack of regulation, you may want to consider a different broker.

FAQs

Q: How much should I deposit initially to trade with WANJIN？

A: The minimum deposit requirement to start trading with WANJIN is $100.

Q: What is the starting spread at WANJIN？

A: The spreads at WANJIN start from as low as 0.1 pips.

Q: What types of trading platforms are available at WANJIN？

A: Traders at WANJIN can use either of the two widely used platforms, MetaTrader 4 and MetaTrader 5.

Q: What assets can I trade at WANJIN？

A: At WANJIN, you can trade Forex and CFDs on stocks, indices, and commodities.

Q: What kind of customer support does WANJIN provide？

A: WANJIN offers customer support five days a week through live chat and email.

Q: What techniques can I use to deposit and withdraw money on WANJIN？

A: WANJIN provides a variety of options for deposits and withdrawals, including credit/debit cards, wire transfers, and e-wallets.