WFEX Account Type

WFEX offers several types of trading accounts tailored to different trading needs and experience levels:

• Standard Account:
• Lot Size: 100,000 units of the base currency.
• Leverage: Typically up to 100:1.
• Minimum Deposit: Generally requires a minimum balance of $2,000 to $10,000.
• Advantages: Access to more services and potential for higher gains, with each pip worth $10.
• Mini Account:
• Lot Size: 10,000 units of the base currency.
• Leverage: Can be as high as 400:1.
• Minimum Deposit: Can be opened with $250 to $500.
• Advantages: Lower risk and capital requirement, suitable for beginners or those testing strategies.
• Managed Account:
• Investment Type: Professional management of your funds.
• Minimum Deposit: $2,000 for pooled accounts and $10,000 for individual accounts.
• Advantages: Professional guidance and portfolio management, ideal for investors with limited time or expertise.
• Micro Account:
• Lot Size: 1,000 units of the base currency.
• Minimum Deposit: Can be opened with as little as $25.
• Advantages: Suitable for novice traders with limited capital.

WFEX Broker Account Opening Process

To open a broker account with WFEX, follow these steps:

• Choose Account Type: Decide which type of account suits your trading style and risk tolerance (Standard, Mini, Managed, or Micro).

• Visit the WFEX Website: Navigate to the official WFEX website.

• Fill Out Application: Complete the online application form with personal information, including:

• Legal name
• Current address
• Social Security number or tax ID number
• Banking information

• Submit Identification: Upload necessary identification documents, such as a government-issued ID.

• Fund Your Account: Transfer funds to your account. The minimum deposit varies by account type:

• Standard Account: $2,000 - $10,000
• Mini Account: $250 - $500
• Micro Account: $25

• Account Approval: Wait for account approval, which typically happens within a few hours.

• Start Trading: Once your account is funded and approved, you can begin trading on the WFEX platform.

By following these steps, you can successfully open a trading account with WFEX and start your trading journey.