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BTC $48547.93 (2.21%)
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BCH $633.10 (1.90%)
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LTC $182.73 (0.86%)
BNB $416.74 (1.65%)
ADA $2.39 (0.84%)
DOGE $0.24 (0.64%)

TradedWell Exchange Review 2021 — Details, Trading Fees & Features

TradedWell Exchange Review 2021

TradedWell is a Cyprus-based and registered exchange owned by iTrade Global Ltd. Meanwhile, iTrade Global is a company that owns other ventures like TradeFW. In addition, TradedWell is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).

Of note, CySEC is the financial regulatory authority of Cyprus. The nation joined the European Union (EU) in 2004 and as such is subject to the MiFID financial law. In fact, the Markets in Financial Instruments Directive II (MiFID II) is an EU regulation.

MiFID aims to increase financial transparency in the region. MiFID II also helps to standardize the regulatory disclosures in member states.

In addition, TradedWell launched in 2020 and currently offers over 170 products on its platform. Also, the TradeWell platform is a hybrid website that is optimized for both PC and mobile devices. The platform is also beginner-friendly offering a user-friendly interface.

In fact, traders can choose between retail and professional accounts which makes it an idle onramp into crypto trading.

Recently, there has been an increase in global crypto adoption. Of note, Google searches for top cryptos like Cardano have broken records. Thus,  more and more people and institutions are looking to leverage this growing asset type.

Moreover, crypto interest is so high that several coins have achieved new all-time highs this year. For instance, top crypto, Bitcoin, has had an increase in institutional investment. As a result, Crypto-friendly companies like MicroStrategy and Tesla have added BTC to their reserves.

Notably,  several governments are taking inflationary actions to stimulate economic growth in the wake of the COVID-19 pandemic. As a result, Bitcoin and other cryptos are starting to grow as a good store-of-value option. Also, there have been several debates regarding whether or not Bitcoin is a better or equal store of value as gold.

As such, with the rise of crypto adoption, there is also an equal need for newbie-friendly and secure exchanges. To this end, TradedWell can offer traders safe exposure to crypto trading. In addition, TradedWell also utilizes the popular MetaTrader4 (MT4) trading platform.

TradedWell Exchange Details

Websitewww.Tradedwell.com
Available on mobileYes
Number of supported coins/tokens30
Number of supported trading pairsN/A
Native token 
Supported fiat currency 
CEO 
HQ LocationLimassol, Cyprus.
Company OwneriTrade Global

History Overview

iTrade Global Ltd founded TradedWell in October 2020. TradedWell is registered in Cyprus and is also based in the EU member state. In addition, iTrade has won several awards, thanks to its TradeFW brand. In fact, TradeFW won an award for being the Best Forex CFD provider in 2020.

Also, although only a few months old, TradedWell has gained thousands of users with rave user reviews. Currently, TradedWell offers over 170 Contracts for Differences (CFDs) for cryptos, FOREX, commodities, indices, and shares. CFDs are derivatives that allow traders exposure to the underlying asset without them owning the actual assets.

TradedWell currently offers:

  • More than 30 cryptocurrencies (BTC, ETH, LTC, etc.)
  • More than 45 currency pairs (EURUSD, GBPUSD, AUDJPY, etc.)
  • Shares of top companies (Amazon, Tesla, eBay, Microsoft)
  • Global indices (S&P 500, Nasdaq, FTSE100, Dow Jones, etc.)
  • Over 20 commodities including Gold, Natural Gas, Silver, and Brent Crude.

However, as a new exchange, TradedWell is still expanding and is currently unavailable in many countries.

Platform Interface

TradedWell Website Page
TradedWell Website Page

In fact, TradedWell enables traders to trade CFDs. Through CFDs, the buyer promises to pay the seller the difference between the underlying asset’s current price and its price at contract time. However, CFDs only account for price movements and not the asset’s actual value.

Also, TradedWell offers margin trading, allowing traders to leverage trades up to 30 times as per EU regulations. However, pro traders can apply to raise their leverage limit up to 400 times.

Of note, leverage trading allows the user to increase trade amounts through borrowing. However, this trading method can increase traders’ profits greatly but also increases risk exposure.

Crypto trading has high risk and high return potential even without leveraging. As such, novice traders need to take caution when learning to trade on margin.

In addition, TradedWell utilizes the MetaTrader4 (MT4) trading platform as well as its own web platform. MT4, however, is not only a trading platform but also offers market analysis and expert advice.

Also, MT4 offers Signals and Market services. Signal enables new traders to copy expert traders, while Market offers additional paid services. Market provides traders with access to expert advisors and technical indicators.

Account Opening

TradedWell Account Types
TradedWell Account Types

The first step to opening a TradedWell account is to select an account type. In fact, the TradedWell platform offers traders three account types to choose from — Silver, Gold, and Platinum. In addition, the platform also supports demo and Islamic trading.

Account Types

SilverGoldPlatinum
Leverage for retail accounts is up to 1:30Leverage for retail accounts is up to 1:30  Leverage for retail accounts is up to 1:30  
Leverage for pro accounts is up to 1:200Leverage for pro accounts is up to 1:200/1:500  Leverage for pro accounts is up to 1:200/1:500  
Spread = 2.8 pipsSwap discounts 25%  Swap discounts 50%  
HedgingSpread = 2.0 pips  Spread = 1.8 pips  
Customized investment newsHedging Hedging
Dedicated account managerCustomized investment news Dedicated account managerCustomized investment news   Dedicated account manager  
Available currencies: GBP/EUR/USDFifth decimal  Fifth decimal  
 Free VPS  Free VPS  
 Available currencies: GBP/EUR/USDAvailable currencies: GBP/EUR/USD

Other Accounts

DemoProfessionalIslamic
Free account  Flexibility: For every trade order, the broker offers leverage up to 1:500 and low stop-outs.  Sharia compliant  
Bonus virtual cash for practisingConsistent and rapid execution of orders.  Swap free
Unlimited practice timeExpert support and assistance from the personal service account manager.   
Simulates real market conditions Access to the VIP education section   
Allows safe trading practice without riskContests 

After selecting your preferred account type, you need to follow the following steps to complete the account opening process:

  1. Open the account tab on the website and fill in your details.
  2. Fill in the questionnaire with the additional information required.
  3. Upload the desired documents for account verification.
  4. Make your initial deposit.
  5. Start trading with TradedWell.

The account opening process is easy and fast. In fact, TradedWell’s intuitive interface makes the steps easy to execute.

Initial Deposit

TradeWell supports several options for initial deposits including credit or debit cards, and bank transfers. Also, the exchange supports deposits via online payment providers like Neteller. In addition, TradeWell does not charge a commission for deposits. However, the exchange requires an initial deposit of at least $250 to activate the account.

Withdrawals

TradedWell only processes withdrawals during business days. Also, the platform processes user requests submitted before 07:00 GMT the same day.  However, TradedWell processes user requests submitted after the cut-off time on the following business day. Additionally, if a user wishes to withdraw less than €100, TradedWell may charge a penalty.

Also, the platform charges withdrawal fees in some cases, like after a prolonged period of account inactivity.

Notably, deposits and withdrawals can be done via the client portal. Users can simply click on the ‘Payments’ tab followed by choosing either ‘Deposits’ or ‘Withdrawal’.

Penalties

PeriodInactivity Penalty
Over 61 days160 Euros or FOREX equivalent
Over 181 days200 Euros or FOREX equivalent
Over 271 days500 Euros or FOREX equivalent

Key Features and Functions

TradedWell offers several key features and functions that help the platform standout from the competition.

TradedWell Platform
TradedWell Platform

Features

  • Low barrier to entry: Users can easily open their account and make affordable initial deposits.
  • Limited fees: These include commission free deposits and no trading fees as the platform earns through spreads and swaps. Also, TradedWell charges a penalty for account inactivity. However, the platform offers up to a 50% discount on swaps.
  • Leverage up to 500x: TradedWell allows users to trade on margin according to their personal risk tolerance and experience. It also enables expert traders to increase their leverage up to 500x with a professional account.
  • Supports multiple deposit options: These include Visa, MasterCard, Maestro, and Neteller.
  • Multilingual support: This has enabled TradedWell to expand quickly.
  • Optimized for Web and Mobile: TradedWell allows trading flexibility with synchronization. Users gain the same support and functionality on the go. The mobile app is available on both iOS and Android.
  • Contests: Professional account holders can take part in various contests.
  • Real-time balance updates
  • Automated trading: Platform has Stop Loss/Take Profit which help limit losses while maximizing profits.
  • Virtual Private Server (VPS): Exchange users have access to low latency and superior execution speed.
  • Educational support: Traders can learn more through articles, videos, and webinars.
  • Dedicated account managers: TradedWell offers this service for Gold and Platinum accounts.
  • Research tools: These include news updates, an economic calendar, and report season calendar.
  • Live chat: Users can ask for real-time help and support 24 hours a day, 5 days a week.
  • One-click account switching
  • Comprehensive trade summary: This gives a full history of all trades, including open and closed positions.

Functions

  • Web: This is a hybrid interface that is optimized for both PC and mobile use. The platform is fully synchronized allowing traders to easily move between devices. Also offers added support for charts, trade mode alternatives and dynamic analytics.
  • Mobile: This is a customized mobile app that enables one-click trades.Very user friendly with customizable trade features and up to 7 trading time frames. Also supports several technical indicators and news updates. Offers the same features and functionality as the web platform, but on the go.
  • CFD trading for over 170 assets.

Controversies & Issues

Unfortunately, the platform shares a similar name with an unregulated exchange that users have flagged for withholding withdrawals among other issues. However, as previously stated, TradedWell is regulated by CySEC and complies with MiFID requirements. In addition, TradedWell’s holding company iTrade Group Ltd is both well recognized and respected.

Nevertheless, users need to make sure they access the correct platform or they might experience losses if otherwise.

Pros and Cons

Pros

  • Offers one-click trade execution.
  • Access to the MetaTrader 4 platform which also supports copy trading.
  • Fast trades on both mobile and web apps.
  • On the go access thanks to mobile support.
  • Offers educational support via articles, videos,  and webinars.
  • Offers a wide range of trading options
  • TradedWell has a high level of regulatory compliance.
  • Offers customized and automated trading, including automatic stop-loss and take-profit settings.
  • Offers advanced trading analytics with over 60 analytical tools.
  • Has a user-friendly and intuitive interface
  • Multilingual support through live chat.
  • Available on most browsers.
  • Offers leverage trading allowing users the opportunity to maximize their profits.
  • Inclusive trading thanks to the Islamic trading option.

Cons

  • Unavailable in many countries.
  • Does not support MetaTrader 5.
  • Similar name to a highly unregulated exchange which can lead to users trading on the wrong platform.
  • Swap charges are high despite high discounts ranging from 25% to 50%

Final Score

  • Services offered: 3/5
  • Cryptocurrency support: 3/5
  • Fees: 4/5
  • Security: 4/5
  • Review Score: 4/5

Summary

In conclusion, TradedWell is a young but well-positioned platform with the advantage of a strong team behind it. The platform offers extensive user support through educational support and dedicated account managers. TradedWell can also appeal to a wide user base with its range of account options.

Many users have rated TradedWell well thanks to the platform’s intuitive interface which makes trading easy. Also, the platform also supports top cryptos like Bitcoin and Ethereum, thus offering traders exposure to over 30 cryptos.

In addition, the platform is still evolving and will surely roll out more products and feature in the future.

FAQ

What is TradedWell?

TradedWell is a fairly new CFD trading platform based in Cyprus and licensed by CySEC. TradedWell also complies with EU MiFID II regulations.

Is TradedWell safe for trading?

Yes, TradedWell is safe for trading, however, CFD trading is highly speculative and risky. Cryptos are also highly volatile assets and require caution. Thus, traders should still use due caution when trading on TradedWell.

How do I open a TradedWell account?

Opening a TradedWell account is very easy and requires a few steps. You can contact the TradedWell customer support team for help if you are struggling to open an account.

Customer Service available

Monday to Friday between 07:00 and 16:00 GMT

Phone Number

+448000318499

Email id

support@tradedwell.com

What are the payment methods accepted on TradedWell?

Users can make payments on TradedWell using credit or debit cards, bank transfers, or e-wallets.

How do I withdraw money from TradedWell?

Users can make withdrawals on TradedWell via debit/credit card, bank transfer, and e-wallets.

To learn about the latest news and updates about TradedWell, follow CoinQuora’s Exchanges News section.

Disclaimer: This material must not be used as the basis for making any investment decisions. This serves only as helpful material about the crypto exchange. Trading digital assets involve risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research before engaging or investing in any crypto assets

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Avid reader and writer with a passion for sharing crypto news and trends. Uses her background in finance to help readers better understand the crypto market and investments. Hopes to see mainstream crypto adoption in the near future, especially in Africa.