WiXi Forex Broker

Note: WiXi is to operate via the website - https://wixi.io/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Detail Regulation No regulation Market Instrument Forex, Commodities, Indices, ETFs, Stocks and Cryptocurrencies Account Type N/A Demo Account N/A Maximum Leverage 1:600 Spread (EUR/USD) 0.2 pips Commission N/A Trading Platform WebTrader Minimum Deposit 500 Tether Deposit & Withdrawal Method Bitcoin WiXi is allegedly a multi-asset broker registered in China that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:600 and floating spreads from 0.2 pips on the WebTrader platform. As for regulation, it has been verified that WiXi currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.10/10. Please be aware of the risk. Note: The screenshot date is January 11, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores. Market Instruments WiXi advertises that it offers access to a wide range of trading instruments in financial markets, including Forex, Commodities, Indices, ETFs, Stocks and Cryptocurrencies. Leverage Leverage at WiXi varies between 1:100 and 1:600. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads The EUR/USD spread provided by WiXi is just 0.2 pips. Trading Platform Available Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, WiXi gives traders a WebTrader. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal The single funding method with WiXi is Bitcoin. The minimum deposit is 500 Tether, which equals 500 USD. The withdrawal processing time is 5 days. Fees Like most brokers, WiXi also charges an inactivity fee. If you recall, it will charge as high as $100 per month for inactivity. Customer Support WiXi‘s customer support can be reached by telephone: +447361596529, +442080973880, email: cs@wixi.co, compliance@wixi.co. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer. Pros & Cons Pros Cons • Multiple tradable assets to choose from • No regulation • Website inaccessible • Competitive spreads • High minimum deposit (500 Tether) • Bitcoin payment only Frequently Asked Questions (FAQs) Q 1: Is WiXi regulated？ A 1: No. It has been verified that WiXi currently has no valid regulation. Q 2: Does WiXi offer the industry-standard MT4 & MT5？ A 2: No. Instead, WiXi offers a WebTrader. Q 3: What is the minimum deposit for WiXi？ A 3: The minimum initial deposit at WiXi is 500 Tether. Q 4: Does WiXi charge a fee？ A 4: Like every forex broker, WiXi charges a spread fee. It also charges an inactivity fee of $100 monthly. Q 5: Is WiX a good broker for beginners？ A 5: No. WiX is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and high initial deposit.