- Stop Loss/Take Profit options
- FREE email & push notifications on market events
- Alerts on price movements
84.97% of retail CFD accounts lose money
WBandSmith Review 2024
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In This Guide
Warren Bowie and Smith (WBS) Review 2024: A Comprehensive Look at Safety, Fees, and Trading Features
Warren Bowie & Smith (WBS) is an online broker offering access to various trading instruments, including forex, CFDs, stocks, and cryptocurrencies. Founded with the aim of providing a comprehensive trading experience, WBS caters to both beginner and experienced traders. In this detailed review, we will explore WBS’s security, fees, platform features, and customer support to help you assess whether it’s the right broker for your trading needs.
Warren Bowie and Smith Review 2024
Founded with a focus on innovation, Warren Bowie & Smith offers a robust trading platform that allows users to access a variety of markets. The broker prides itself on providing a seamless trading experience, backed by its PROfit trading platform, which supports desktop and mobile trading.
Highlights:
- Access to multiple financial markets, including forex, stocks, and cryptocurrencies.
- PROfit trading platform for both web and mobile.
- Variety of account types catering to different trader profiles.
- Educational resources for beginners.
Is Warren Bowie and Smith Legit?
One of the primary concerns when choosing a broker is its legitimacy and regulatory standing. WBS operates under the regulatory oversight of IFMRRC (International Financial Market Relations Regulation Center), a regulatory body not recognized by mainstream financial authorities like FCA or CySEC. This has raised concerns among some traders.
Key Safety Features:
- Regulation by IFMRRC: Offers some level of protection, but not as robust as FCA-regulated brokers.
- Account segregation: Client funds are held in separate accounts to protect against insolvency.
- Encryption: WBS uses SSL encryption to secure user data.
Warren Bowie and Smith Fees and Charges
Warren Bowie & Smith operates a fee structure based on spreads and commissions. While the broker advertises competitive spreads, these may vary based on the account type and asset being traded. Additionally, overnight fees are applied to positions held overnight.
Fee Breakdown:
- Spreads: Start from 1.5 pips for major currency pairs but can vary widely depending on account type.
- Overnight fees: Charged for positions held beyond trading hours, also known as swap fees.
- No deposit fees, but withdrawal fees may apply depending on the method used.
Warren Bowie and Smith Trading Platform Review
WBS offers traders access to its proprietary PROfit platform, which is available both as a web-based platform and a mobile app. The platform provides a range of trading tools, including technical analysis tools, charting features, and customizable layouts. However, it lacks the more advanced features found in industry-standard platforms like MetaTrader 4/5.
Warren Bowie and Smith Withdrawal Issues
Several reviews and user feedback suggest that withdrawal delays can be a concern for traders using WBS. While the broker states that withdrawals are processed within a few business days, some users have reported longer wait times and additional documentation requests for larger withdrawals.
Key Points:
- Withdrawal fees depend on the payment method.
- KYC verification is required for all withdrawals.
- Some users report delays or difficulties in receiving funds.
Warren Bowie and Smith vs Other Brokers
Compared to other brokers, Warren Bowie & Smith may not offer the same level of sophistication or cost-effectiveness. For example, brokers like eToro or Plus500 tend to offer more transparent fees and industry-standard platforms.
Comparison with Competitors:
- Fees: WBS’s spreads and fees are higher compared to eToro or Plus500.
- Platform: The proprietary PROfit platform is simpler but lacks the advanced features of MetaTrader platforms.
- Regulation: WBS is regulated by IFMRRC, which may not offer the same level of protection as FCA or CySEC regulation.
Warren Bowie and Smith Mobile App Review
The PROfit mobile app is available on both iOS and Android and provides access to the full range of trading instruments available on the desktop platform. The app supports charting tools, order execution, and account management, making it a convenient option for traders who need to manage positions on the go.
Warren Bowie and Smith Customer Support Review
Customer support is available via live chat, phone, and email. However, some users have reported difficulties in reaching customer service, particularly during peak trading hours. While the broker claims to offer 24/5 customer support, feedback suggests that response times may be slower than advertised.
Warren Bowie and Smith Leverage and Spreads
Warren Bowie & Smith offers leverage up to 1:30 for retail clients, in line with European regulations. Spreads, particularly on major forex pairs, can be wider than industry averages, making the broker less attractive to traders looking for tight spreads.
Warren Bowie and Smith Trading Tools
The PROfit trading platform offers access to various trading tools, including technical indicators, charting tools, and customizable layouts. However, more advanced traders may find the lack of depth in the toolset limiting, particularly when compared to brokers offering platforms like MetaTrader.
Warren Bowie and Smith Account Types
WBS offers several account types tailored to different trader levels, including Basic, Silver, Gold, and Platinum accounts. Each account type offers different benefits, including lower spreads and higher leverage, but higher-tier accounts require larger initial deposits.
Fortissio for Beginners
While WBS provides a relatively user-friendly interface, the higher fees and limited platform functionality may not make it the best choice for beginner traders. Beginners may prefer brokers with more educational resources or more transparent fee structures.
FAQs
Yes, WBS is regulated by IFMRRC, but this regulatory body is not as recognized as authorities like the FCA or CySEC.
WBS charges spreads, which start at 1.5 pips for major pairs. The broker also charges overnight fees and may apply withdrawal fees depending on the method.
Yes, the PROfit mobile app is available on both iOS and Android devices, allowing traders to manage their accounts on the go.
Compared to competitors like eToro or Plus500, WBS charges higher fees and offers fewer platform features, making it less attractive for cost-conscious traders.
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