Before you read
Financial markets provide a profitable means of investment for everyone worldwide. Stocks, CFDs, and currency pairs are among the most popular places of investment with wholesome returns. However, there are several precautions to take for a successful investment. For example, choosing a platform for investing is fairly essential in regards to the safety of your funds. There is a plethora of brokers that can connect you to the global markets, but you need to analyze them based on different criteria to choose the one that serves you best. This article reviews the Windsor broker, a Forex and CFD service provider with international clients.
Windsor Broker Introduction
Windsor Broker International Ltd is a Cyprus-based forex broker founded in 1988, with more than 30 years of giving financial services. Hanna (Johny0 Abuaitah is the founder and CEO of the Windsor broker. He got his BS in Accounting and Computer Sciences in Leicester in 1988 and graduated from the City University of London in Business System Analysis in 1989. As soon as he graduated, he started his professional carrier and established the Windsor broker in Cyprus. The broker also has three other branches in Belize, Jordan, and Kenya, all registered and regulated by governmental institutions of the respective countries.
Windsor broker has won 26 awards over the years of its activity, including several awards for Best Forex Broker, Best IB support, Best Technology, Most Trusted Broker, Transparency, Best Multi-asset Broker, and Best CSR company.
Windsor Broker Account Types
The Windsor broker supports two main account types: Zero and Prime. Both accounts have several identical features. For example, the maximum leverage on both account types is 1:500 and users of both accounts can benefit from options such as hedging, personal account manager, and negative balance protection. Furthermore, there is a 50-lot restriction per ticket, Stop-out at 20% and the margin call at 100% for both account types. Of course, Zero and Prime accounts have some distinct characteristics, as follows.
Zero account
Despite what the name may suggest, the Zero account is dedicated to experienced traders who wish to trade large sums. The minimum deposit amount for the Zero account users is $1000, the minimum trading volume is 0.01 lot, and the spread is from 0 pips on major currencies. In addition, Windsor demands an $8 commission from the Zero account users per trade.
Prime account
The prime account is designed for novice traders and those with relatively small capital. The minimum deposit for the Prime account is $50, the minimum trading volume is 0.01 lot, and the spread is from 1.0 pip on major currencies. In addition, Windsor does not demand any commission for Prime account users, and thanks to the Islamic swap-free feature, inter-day positions are free of charge. Moreover, the Prime account comes with a training feature that helps newcomers navigate different parts of the platform.
Windsor Broker Deposits and Withdrawals
The Windsor broker has multiple payment portals that increase the ease of deposits and withdrawals. Depositing USD via MasterCard and Visa has zero fees, and the maximum amount is $25000. Traders can also use the WebMoney option if they don’t have access to Visa or MasterCard. WebMoney deposits are not limited, but traders must pay a 0.8% commission. Finally, Windsor users can fund their account using Wire Transfer which has various fees based on the deposited amount. In the first three payment methods, traders can only deposit USD, but Wire Transfer allows for EUR and KWD deposits as well.
The same portals are also available for withdrawals, but the fees differ. Withdrawing funds via Visa and MasterCard deducts a $3 fee, and there is no limit regarding the withdrawal amount. WebMoney withdrawals cost 0.8% commission, and Wire Transfer fees vary according to the amount. Traders can choose the currency in Visa, MasterCard (USD, GBP, and EUR), and Wire Transfer (USD, EUR, and KWD) transfers, but WebMoney only allows withdrawals in USD.
Windsor Broker Advantages
Insurance:
Windsor has secured the clients’ funds for up to €5,000,000 against various possible risks, such as fraud, errors, negligence, etc., that may threaten the clients’ investments. The insurance coverage includes all Windsor investors and traders free of charge. Each Windsor office has a separate insurance contract with the same value. You can check out the insurance certificates here.
Rich background
The Windsor broker has been up and running since 1989, meaning that it has stood the test of time. As the company claims, the secret to its endurance in the Forex and CFD business is its client-oriented policies over the years. Windsor proclaims it pursues a sustained presence in financial markets, and making a profit from the business is of secondary importance.
Educational materials
If you visit the Education section of the Windsor website, you will see that you can answer almost all of your questions by participating in the webinars, browsing through the glossary, or reading the available eBooks. In addition, Windsor Education comes with several series of multimedia courses on financial markets and how you can invest in the markets.
Demo trading account
Demo accounts are beneficial for trading assets regardless of the traders’ level of proficiency. New traders can use the demo account to break the ice and warm up before getting their hands on the real account. On the other hand, professional users can take advantage of demo accounts to test their strategies and check if they work out before applying them to their real accounts. Windsor allows traders to open two demo accounts with a $50,000 balance. Of course, traders can customize the base currency (USD, EUR, and GBP) and their balance before opening the demo account.
Promotions
The Windsor broker has several promotions that increase traders’ returns. For example, new Prime account users can get a $30 bonus with a USD, EUR, GBP, or JPY currency base. The next incentive is a cash bonus that traders can request as they deposit funds into their accounts. Traders can receive as much as $20 of their deposited sums as a bonus.
Another Windsor promotion is the Loyalty plan that ranks traders based on their trading volume. Traders will get Loyalty points according to their trading activities which will be redeemed as balance. The points will also improve the traders’ status; the higher the rank, the higher the rewards. The last promotion Windsor provides is the Trading Challenge. All clients can participate in the challenge, and if they manage to stay among the top ten traders with the highest ROI, they will each receive a portion of the $30,000 cash prize.
Seamless experience
Traders can conveniently use Windsor on multiple devices as they can reach their accounts on Windows, Android and iOS. Additionally, traders can use the web-based trader room if they do not want to install the app on their devices.
Customer care
Windsor has an active support team you can contact via live chat, email, and telephone. You can consult the support team on matters such as account activation and verification, deposits, withdrawals, and other enquires.
Language support
The Windsor website supports 12 languages, including Arabic and Persian, which will facilitate the platform’s use for a diverse audience. The support team can also respond to users’ requests using any of the 12 supported languages.
Windsor Broker Disadvantages
No service for US citizens
As stated on the website’s homepage, Windsor does not provide any financial services for the residents of the United States.
News Coverage
The Windsor website has a News page, but the coverage is limited to the updates regarding the Windsor platform. In other words, users will need to browse other websites to read financial news on the market dynamics.
Security
Another flaw in the Windsor trading platform is the lack of sufficient security of options. For example, Windsor could implement a 2-factor authentication feature for logins and withdrawals to maximize the safety of the invested funds.
Final Words
Choosing a broker is one of the most critical steps before trading Forex or CFD. You should consider various factors to see which broker ticks your criteria checkbox. Windsor has been active in Forex and CFDs markets for over three decades and has received many awards for its excellent service. This article attempted to introduce the Windsor broker and list its merits and demerits.
I highly recommend you read our article on the characteristics of a good broker before deciding on your trading platform.