TradedWell, a Cyprus-based registered exchange that is possessed by iTrade Global Ltd. However, iTrade Global is a platform that possesses different endeavors like TradeFW.
Added to this, TradedWell is authorized and managed by the Cyprus Securities and Exchange Commission (CySEC). Moreso, CySEC is the financial regulatory authority of Cyprus. Moreover, with the increasing crypto adoption, there is likewise an equivalent requirement for newbie-friendly and secure exchanges. Furthermore, TradedWell can provide traders safe exposure to crypto trading.
TradedWell Exchange Details
| Website | https://www.tradedwell.com/ |
| Available on mobile | Yes |
| Number of supported coins/tokens | 30 |
| Number of currency pairs | 45 |
| Company Owner | iTrade Global |
| HQ Location | Limassol, Cyprus. |
History Overview
TradedWell was launched in October 2020 by iTrade Global. TradedWell is enlisted in Cyprus and is based in the EU member state. Added to this, iTrade has received several awards through its TradeFW brand. Moreover, TradeFW has got an award for being the Best Forex CFD provider in 2020.
Within a few months, TradedWell has reached great heights gaining thousands of users along with rave user reviews. Presently, TradedWell could offer more than 170 Contracts for Differences (CFDs) for digital currencies like FOREX, commodities, indices, and also shares. TradedWell offers over 30 cryptocurrencies such as BTC, ETH, LTC, etc. Also contains over 45 pairs of currencies.
In addition, TradedWell offers shares of top companies like Amazon, Tesla, eBay, Microsoft. Also, Global indices S&P 500, Nasdaq, FTSE100, Dow Jones, etc. More than 20 commodities include Gold, Natural Gas, Silver, and Brent Crude. As a new exchange, TradedWell is still expanding and also unavailable in many countries.
Platform Interface
TradedWell allows traders to trade CFDs. Moreso, the buyer promises to pay the seller through CFD, however between the underlying funds’ current price and also its price during contact time. Moreover, CFDs only note the price movements and not the funds’ actual price.
TradedWell Exchange Homepage
As per EU regulations, TradedWell allows traders to leverage trades 30 times. Moreover, pro traders can register to get their leverage limit 400 times. Further, crypto trading has high risk and high return potential even without leveraging. As such, novice traders need to take caution while learning to trade on margin.
Added to this, TradedWell uses the MetaTrader4 (MT4) trading platform as well as its own web. MT4 is not only a trading platform but also offers expert advice and market analysis.
In addition, MT4 offers Signals and Market services. Signal allows new traders to follow expert traders, while Market allows additional paid services. The market provides traders with access to technical indicators and expert advisors.
Key Features and Functions
TradedWell offers various key features and functions that enable the exchange to differ from other exchanges.
Features
Affordable Initial Deposits: Users can easily open and access their account, to make affordable initial deposits.
Low fees: The platform offers commission-free deposits and no trading fees through swaps and spreads. Moreso, the exchange charges an account for an inactivity penalty. Also, the platform provides a 50% discount on swaps.
Leverage up to 500x: TradedWell enables users to trade on margin as per their personal risk tolerance and experience. It also allows expert traders to accelerate their leverage up to 500x with a professional account.
Multiple deposit options: The exchange supports many deposit options, that include Visa, MasterCard, Maestro, and Neteller.
Multilingual support: The multilingual support feature has enabled TradedWell to grow quickly.
Automated trading: Platform has to stop Loss/Take gains which enables limit losses while increasing the profits.
Virtual Private Server (VPS): Exchange users can enable access to low latency and greater execution speed.
Functions
Web: The platform is synchronized completely enabling traders to easily move between devices. Also provides added support for charts, trade mode alternatives, and dynamic analytics.
Mobile: This is a customized mobile app that allows one-click trades. It is user-friendly with customizable trade features and up to 7 trading time frames. Also supports many technical indicators and news updates. However, provides the same features and functionality as the web platform.
Deposit & Withdrawals Options
Initial Deposit
The exchange has supported many options for initial deposits that include credit or debit cards, and bank transfers. In addition, the exchange supports deposits through online providers of payments like Neteller. In addition, there is no commission charge for deposits. However, the exchange needs an initial deposit of at least $250 for the account activation.
Withdrawals
TradedWell only withdrawals will be processed only during the business days. In addition, the platform processes user requests that need to be submitted before 07:00 GMT the same day. However, user requests submitted after the ending time will be processed on the following business day.
Additionally, TradedWell may charge a penalty if a user withdraws an amount less than €100. In some cases, the platform charges withdrawal fees after a prolonged period of account inactivity. Notably, deposits and withdrawals can be completed through the client portal. Users can simply click on the ‘Payments’ tab then choosing either ‘Deposits’ or ‘Withdrawal’.
Controversies & Issues
The platform name is similar to an unregulated exchange flagged by the users for withholding the withdrawals with other issues. Moreover, it is already known that the exchange is regulated by CySEC. Also, complies with MiFID requirements.
In addition, iTrade Group Ltd, a radedWell’s holding company is both well recognized and respected. Nevertheless, users need to make sure they enter into the correct platform or they might undergo losses if otherwise.
Pros and Cons
Pros
- There are no hidden fees.
- Offers cross-platform trading.
- Supports flexible leverage.
- Easy withdrawal and deposits.
- 170+ asset CFO’s
- Speedy mobile trading
- Provides educational services
- Offers customized news
- Provides good swap discount
- Enables one-click trading operations
- Customized trading terminals
Cons
- Unavailable in many countries.
- The brand name is similar to a highly unregulated exchange which can make users trading on the wrong platform.
- Despite swap discounts, their charges are high.
Final Score
> Services offered 3/5
> Cryptocurrency support 3/5
> Fees 4/5
> Security 4/5
> Review Score 4/5
Summary
TradedWell is a newbie exchange but well-positioned platform with the benefits of a strong team behind it. The platform provides great user support through educational support and dedicated account managers. TradedWell can also reach a wide user base with its wide range of account options.
Many users have provided good ratings on TradedWell thanks to the platform’s intuitive interface which offers easy trading. Also, the platform supports top cryptos like Bitcoin and Ethereum, thus providing traders exposure to over 30 cryptocurrencies. In addition, the platform is still evolving and will surely roll out many products and features in the future.
| FAQ
TradedWell is a Cyprus-based new CFD trading platform and licensed by CySEC. TradedWell also complies with EU MiFID II regulations.
Withdrawals can be made via debit/credit card, bank transfer, and e-wallets such as Skrill, Neteller., Trustly, and more.
TradedWell is the name of iTrade Global (CY) Ltd, a company authorized and regulated by CySEC.
Yes, TradedWell is safe for trading, however, CFD trading is more speculative and risky. Cryptos are highly volatile assets and require caution. Thus, traders can still use due caution while trading on TradedWell. |
