As we know, trading is now getting more popular. As more average investors enter the stock market, they begin to trade different forms of stocks and futures such as ETFs, options, and CFDs. Nevertheless, CFD trading is one of the most infamously difficult sectors to locate a good trading platform for. Importantly, the choice of CFD trading platform is far more essential than could be expected. Some trading platforms provide benefits for CFD choices that others do not, essentially providing you with more selection or superior CFD products. However, others may have superior user interfaces or differing legal jurisdictions based on their country of origin. Therefore, today we will examine ‘Woxa.com’, one of the best CFD trading platforms in 2023.
List of Contents
Overview of Woxa
Investing in the stocks of firms based in other countries may help traders diversify their holdings, protect against potential losses, and gain exposure to economic development in regions other than their own. However, most international stocks require only their citizens to invest. Therefore, is not it preferable if you could trade stocks, or other instruments from all around the world with a few clicks? Regarding social trading platforms, Woxa.com is at the forefront of its field. This is because it allows users to trade CFDs on various underlying assets, including currencies, cryptocurrencies, commodities, international stocks, and ETFs.
Woxa.com is a social trading platform established in 2019. Significantly, Woxa is operated by WOXA LTD, which is regulated by the Financial Services Commission of the Republic of Mauritius (FSC) with an Investment Dealer License with license number GB22200605 with registered address at 30 St Georges Street 3rd Floor, Manor House, Port Louis, MAURITIUS.
The original name of Woxa.com is Awonar Group Limited, which is registered with the Financial Services Authority in Saint Vincent and the Grenadines under registration number 26740 BC 2022. at 321 Beachmont Business Centre, Kingstown, Saint Vincent and the Grenadines. After obtaining the FSC license, they changed the name to Woxa.com to comply with the law and operate under strict supervision.
Woxa.com’s user- and trader-friendly design makes it an excellent fit for traders of all skill levels. In addition, using this CFD trading platform may avoid fees that some platform still demand. Moreover, you would not have to deal with a complicated interface, or poor customer service. Compared to its competitors, Woxa.com’s many benefits include excellent customer service, reasonable fees, a wealth of data, and the opportunity to purchase stocks in fractional quantities. Given their breadth of services, you may want to enhance your connection with Woxa.com as your wealth grows.
Account Types of Woxa.com
There are three types of accounts available on Woxa.com: Real, Demo, and Credit.
The first type of account is a ‘Real’ account, where traders may trade instruments using their actual money and profit from tighter spreads than the market generally offers. In addition, Woxa.com covers the fees associated with trading. This is beneficial for traders since they would not have to fork out a ton of money in fees with each trade.
The second type of account is a ‘Demo’ account, where traders may hone their skills without jeopardizing their own money. However, traders should be aware that this is only a representation of a real account and that, as such, it cannot generate profits. In addition, new Woxa.com investors may get $50 in trading credit when they switch their account to a ‘Credit’ account as part of a particular campaign.
The last type of account is Credit Account.
Deposit & Withdrawal of Woxa.com
Woxa.com offers a great variety of deposit and withdrawal options which are fast, easy, and inexpensive such as banks and alternative payment accounts.
Woxa.com charges less than $5 for deposits and withdrawals made with electronic wallets, depending on the country of users and the bank. Moreover, traders can use bank transfers to deposit and withdraw funds in Woxa.com.
Products of Woxa.com
Woxa.com is primarily a CFD broker. There are various instruments that you can trade as follows;
- Currencies
- Stocks,
- ETFs
- Commodities
- Cryptocurrencies
- Indices
Stock CFDs typically include the largest companies listed on various markets. In terms of cryptos, you can trade more than hundred products such as Bitcoin, Ethereum, Litecoin, and Ripple on Woxa.com.
Trading Platform of Woxa.com
Woxa.com has conducted its trading platform named ‘Woxa.com’, same as its name. The outstanding feature of this platform is social trading. This feature enables traders to copy trading from renowned traders. Therefore, it is very useful for the new traders because they did not have any trading experience. Moreover, this platform can be used in iOS and Android applications. Importantly, traders can download it without charge.
Fees of Woxa.com
For Woxa.com, there are no fees for trading, and social trade features can be used without charge. However, there are still some fees for the features as follows.
- Deposit and withdrawal fees are charged depending on the trader’s country (up to $5).
- Overnight fees for holding orders across the day. However, it is still very cheap when compared to other platforms.
Promotions of Woxa.com
1. Offer $50 For New Customers
Woxa.com offers an extra $50 for new customers which we considered to be above average while most brokers or trading platforms tend to offer bonuses ranging from $10 – $30. For this reason, Woxa.com offers more opportunities for new customers to invest and get more experiences from trading on their platform with less amount of funds that traders must deposit.
2. Free Social Trade Feature
Woxa.com also provides a free Social Trade function that allows users to view the statistics and information of other successful traders. This tool allows other users to imitate successful traders’ trading style and strategy at no additional cost.
How to trade on Woxa.com
- Login, or create an account at Woxa.com
- Click on the ‘Market’ button, and the available instruments will be shown in this page.
- Select on needed instruments, then click ‘Trade’ button.
- Select ‘BUY’, or ‘SELL’ order.
- Enter the amount that you need to invest. Then, set the leverage level, stop loss and take profit.
- Select an ‘Open order’ button.
- Your order will be shown on ‘Portfolio’ page.
Customer Service of Woxa.com
- Live chat is available 24/7.
- Email notification of important events is noticed all the time.
Pros
- No trading fee
- No social trading fee
- Offering $50 bonus for beginners
- Offering high-amount of underlying assets
Cons
- Live chat supports only the English language
- Since the products are underlying assets, traders don’t get to own actual assets
- The number of assets may not be as much as the actual stock exchange
Conclusion
In short, Woxa.com is one of the best CFD trading platforms enabling its traders to trade various of CFDs. Importantly, it develops its trading platform which traders can use it via pc and also mobile phone. Moreover, it has bonus for the beginner in the first time of trading. However, there are still another good CFD trading platforms enabling you to easily trade. You should deeply consider its features before starting the trading with them because every investments have risks.
FAQs
Contract for Difference trading, often known as CFD trading, is a sort of financial derivative trading that allows traders to speculate on the price movement of underlying assets such as stocks, commodities, currencies, and indexes without actually holding the assets.
Yes, Woxa.com is appropriate for beginners since it has a user-friendly trading interface and instructional materials like as webinars and tutorials. Furthermore, the site provides a free trial account for traders to practice their trading abilities before trading with real money.
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