It is incredible to see how the Forex market grows within each year. So many new brokers appeared, and I don’t doubt we will have a pleasure to see a lot more in the future. But for now, I want to focus on one specific broker that has a clear goal — to provide successful trading and make your Forex journey much easier.
This Thewealthcore review will reflect on many different things and see whether this broker can offer competitive promotions that will give us a good reason to open one of the four accounts it offers and start trading.
Quality of service
We are living in the era of the Internet and it has given us a lot of benefits. But it all comes with a price. In this case, the prices are numerous scam brokers that appear online and try to take your hard-earned money without offering any service. Luckily for us, Thewealthcore is not anything like that. I had a pleasure to see by myself the quality of its service and let me tell you, it’s impeccable.
With this broker, you can count on an excellent web-based platform. It is fully optimised and with a proper Internet connection, you can trade on every device. Also, the design is excellent and user-friendly. You can choose between Forex, Commodities, Crypto, Stocks, and Indices. Once you press on the desired asset, on the right side you will be able to see maintenance margin, initial margin, trading hours, leverage, etc.
Another part of excellent service is Education Center. My excitement is real when I see this section in the main menu. One of my beliefs is that the honest and trustworthy broker needs to help you gain new skills. With Thewealthcore, you can count on endless learning material and constant improvements. And that is something that comes as a cherry on the cake to every high-quality service.
This broker has an eBook section where you can learn everything about Beginners Strategies, CFDs and Stocks, Market Analysis, and many other helpful things. Also, there is an Asset Index and if you want to read a brief explanation about specific assets, go there. FAQ and Glossary sections are also provided and if there is any problem, be sure to check an answer there before you contact someone from customer service.
Speed of response
How would you react if the problem occurs and the broker doesn’t reply to your messages? Not good, I assume. Well, that is the reason I always dedicate one part of the review to the customer service. If a broker doesn’t provide responsive support, we have a problem.
At Thewealthcore there are four options for contact. The most basic one is email. You can send a message to their support or compliance department and wait for a reply. There is also an option to call them and you can choose whether you want to dial a number in Australia or the United Kingdom (working hours for phone support are Monday to Friday 08:00 – 12:00 GMT).
The third method is the online form on the website. You can go to their Contact Us page and send a message directly from there. The thing I like the most is the list of different departments (customer support service, trading platform assistance, general feedback, and complaints). This way your message will go straight to the right people and replies will come faster.
Lastly, there is an option to chat with one of the customer representatives. I decided to send a message there and see what the speed of response is. First of all, I have to mention how polite their representatives are. One of them answered all of my questions and gave me all the necessary information. You can tell this broker pays extra attention to customer service and provides fast responses.
Transaction speed can vary due to different factors. The first one is Identity Verification and before any request approval, this broker needs to be sure it is really you behind the account. So, it is obligatory to provide certain documents like ID, copy of a Credit Card, proof of address, etc. If you want to make everything a little bit faster, prepare those documents before you make a withdrawal request.
Another thing that has an influence on transaction speed is the account you choose. If you are a Silver Account member, the waiting time is usually from seven to ten business days. With Gold Account, you have prioritized withdrawal process Level 3, with Platinum it is Level 2 and with VIP prioritization is on the Level 1 and you will receive funds on bank account much faster.
Lastly, once your request is approved and funds transferred, everything depends on your payment provider and the broker cannot have an impact on that. I am completely satisfied with the speed of transactions since you don’t have to wait a lot. Even with the Silver Account waiting time is up to ten business days and if we have in mind that all steps of security are included, this is more than a reasonable time.
Transparency — one thing I appreciate so much, and I am incredibly glad to see Thewealthcore nourishes that value. There are no hidden fees, everything is listed in the Terms and Conditions and you know exactly what to expect. So, let’s see what fees are mandatory and how much you will pay for them.
The first one is a withdrawal fee and you will be happy to hear it is only 1 percent (with a minimum of 30 EUR/USD/GBP and a maximum of 300 EUR/USD/GBP). This fee is automatically deducted from the account balance with every withdrawal you make.
Since this broker offers Refunds if you wish to cancel your account and take back deposited money you can do it and pay a small fee that is also 1 percent. This is excellent because Refunds are not a mandatory offer and you won’t find them everywhere so that one percent is quite a small amount.
The last fee I want to mention today is called the Dormant Account Fee. This one is only charged if you do not use an account in a period of 30 days in a row. It is 99 EUR/USD/GBP and if you trade regularly, you won’t be charged. As I already mentioned, this is a fully transparent broker and my advice would be to go to their Terms and Conditions before you open an account and check everything.
When I say I could write an essay about licensed and unlicensed brokers, I mean it. There are so many things to be said, but I will try to make it short this time. When you look for a trustworthy broker, what is the first thing that comes on your mind? Trading conditions and security or regulation? I assume it’s the second thing and let me tell you something, you are making a mistake.
Regulation is important when you see that a specific broker doesn’t offer good conditions and necessary safety for the fund. But when you are certain about the security of your money, you can relax and open an account even if the broker doesn’t have a license, like Thewealthcore.
We’ve already seen that the level of security is high, and that is the first and most important thing to check. Aside from that, this broker offers excellent conditions for trading and there is not a single reason to skip trading at its website.
Variety of payment methods
Deposits and withdrawals are available through three methods. The first one is Credit Card, the second is Bank Wire and the third is Bitcoin Transfer. As usual, you can choose how you want to deposit funds, but you need to withdraw all your profit using the same method.
When it comes to Credit Cards, there is a possibility to use more than one while depositing. This is an opportunity that is not so common among brokers and I was pleasantly surprised to see that Thewealthcore offers it. Due to security reasons, you can withdraw the exact same amount on each card when the time comes, and any additional profit will be transferred to your account with the Bank Wire.
If you choose the Bitcoin method, keep in mind that the minimum you need to withdraw is the Bitcoin equivalent of $250. We have seen how transparent this broker is within Commissions section in this Thewealthcore review and we can see that again now. Under the Withdrawal, Refund & Cancellation Policy, it is written that Bitstamp is the website where Thewealthcore determines its exchange rates. Not only do you get an option to choose between different payment methods, but you can also know in advance every detail about trading conditions.
Now when we came to the end of this Thewealthcore review, you can see that I had an excellent experience with this broker. Therefore, I can only say one thing — you won’t regret if you open an account and start a new chapter of your trading journey here.