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There are many brokers out there today on the global binary options trading market. The offer is increasing by the day and in those conditions, it is important for a certain broker to find its niche where it can excel and attract more traders. Wynn Finance attracts its traders by promising a great experience, various accounts, multiple assets, and a simple platform. However, there are some disadvantages as well, like inaccurate support and unclear banking details.
Find out more in our detailed WynnFinance broker review.
WynnFinance Trading Features
Many traders, with a different set of skills and different budget possibilities, can find their place on WynnFinance platform. Traders can start trading with a minimum of $200. However, that amount won’t bring you any benefits like bonus or education. On top of that, WynnFinance doesn’t offer a demo account at any stage which makes it harder for new customers to get to know the platform and gain trading confidence. That is why we don’t find WynnFinance the most beginners-friendly broker out there.
The first benefit starts with a Basic account that the traders can reach with a minimum deposit of $500. For this amount, they will receive up to 25% bonus, entry to weekly market updates and educational e-book.
Going up the next account, traders can reach the Beginner account next. It takes a $1000 minimum deposit which will allow the same bonus of up to 25% and all the other benefits of the basic account. In addition to that, traders will also have a chance to use Academy membership and one trading strategy.
With all the already mentioned perks, traders can add much more to this next account. It is the Silver account which will take a minimum of $5.000 deposit. 30% bonus, webinars, one risk-free trade, one academy session, weekly signals and daily market reviews are the advantages of this account.
Daily signals, joined with 3 risk-free trades, 3 training session and a bonus of up to 45% are all benefits of the Gold account. It takes a minimum deposit of $10.000 to reach this account level. Traders can also enjoy live webinars and get advice from the senior analyst.
Traders can get to Platinum account for a minimum deposit of $25.000. If they decide to take it, they will enjoy many benefits like 60% bonus, 5 risk-free trades, and 5 training sessions. They will also get a committed broker, same day withdrawal opportunities as well as live webinars and daily signals.
To be able to use all the possible benefits, traders can choose to reach the Expert account. It will take them $50.000, but they will get 80% bonus, 10 risk-free trades, daily signals, daily market reviews, VIP live webinars, dedicated broker and expedite withdrawals.
Traders can also request a VIP account with which they can enjoy super exclusive stuff like vacations, high bonuses etc. But, for details on that, traders will need to contact them directly.
As it is noticeable from this account breakdown, bonuses are huge and traders can enjoy a lot of extra investment incentive. But, the first unclarities we stumbled upon in our review are related to the required turnover traders need to accomplish before being able to withdraw their money. It is stated in WynnFinance Terms and conditions that the turnover differs between x30 and x50 and can also be as low as x20. But, details on which amount is used when were not clearly explained. Make sure to understand all terms and conditions before accepting the bonus.
WynnFinance Software Platform
WynnFinance has a platform that is very convenient, has great design and is easy to navigate through. Website appearance is very clear. WynnFinance uses Panda TS Software.
Traders can be satisfied with the wide range of trading options, assets and expiry times that WynnFinance offers. It is possible to trade with Stocks, Commodities, Currencies and Indices on 30 seconds, 15 min, 30 min, 1 hour, 10 hours and End of the day expiry times. WynnFinance has also enabled its user’s different Trade options like High/Low, OneTouch, 60 seconds and Long Term. The platform also shows elements of social trading, as traders are able to copy trades and follow trading gurus.
Another great advantage is a mobile trading option, so traders don’t have to be tied to one place. They can make trade from anywhere they want.
WynnFinance Support Information
Despite many great features and positives that this website offers, there is still room for improvement. Customer support isn’t on the level which you would expect from a serious broker company. Their live chat is almost never live and we waited for a reply to our email more than expected. Traders can contact their support on [email protected].
Support is available in English, German, Spanish, French, Russian and Arabic.
There are also various phone numbers available for traders from USA, UK, Canada, Japan, Australia and New Zealand.
The Educational offer also needs some improvements. The Economic calendar is still not available despite the info that it is coming soon. However, most of the basic questions are well explained in WynnFinance FAQ, so there is something to start with.
WynnFinance Banking And Company Information
WynnFinance is not a regulated broker. It is owned by Waterfall Partners Ltd.
As we already mentioned, the minimum deposit is $200 for deposits made in USD, EUR, and GBP. It will take 250 AUD or CAD to start trading. Available deposit methods listed on WynnFinance website are Credit card, Neteller and Bank Wire. Although, when we tried to proceed with payment, only credit card option was available so make sure to check with customer support before you start the procedure.
Minimum withdrawal amount depends on the method a trader is using. It is recommended to use the same method for payment as well as for withdrawal. When using a credit card or Neteller, traders can withdraw a minimum of $30 and for bank wire, the limit is set at $100. It is important to add that if a trader uses a credit card, he can only withdraw an amount that is as high the deposit he made. The rest of the requested amount will be transferred via another method.
WynnFinance enables their users a maximum $20.000 withdrawal for credit card and $1.000 for Neteller, while bank wire carries no limitations. The withdrawal fee is $30 except for the first withdrawal in a month. However, it is not clearly stated what is meant by month. Is it a calendar month or does it count from the first deposit made? Make sure to check all these details with customer support before making any transactions.
WynnFinance withdrawal process is not one of the fastest around. More so, it takes quite long, especially these days when everything is automated and done very quickly. It will take up to 7 working days for the broker to process the request and additional 5-10 days for funds to be visible on traders account.