Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
WCG Markets Pros & Cons
- The broker is regulated in several jurisdictions where it has its representative offices;
- It offers trading through classic MetaTrader 4 with important trading and analytical features;
- Partnership programs with various fee plans and working patterns are available;
- WCG Markets’ service charge is included in the spread;
- The broker offers bonus programs with the opportunity to withdraw bonus funds;
- A demo account is available;
- The company provides passive income services, such as copy trading, MAM, and expert advisors.
- Minimum deposit is $100 but without the opportunity to open a cent account;
- Limited choice of trading instruments, as compared to the broker's competitors;
- Accounts are restricted to citizens of China aged 18-65.
WCG Markets offers trading currency pairs, precious metals, indices, and energies in the over-the-counter (OTC) market through MetaTrader 4 (MT4). The WCG brand was registered in 2018. Over 5 years, the company shifted from the Asian market to international business and opened representative offices in Canada, the UK, and St. Vincent and the Grenadines. WCG Markets provides qualitative brokerage services and has been awarded with many rewards, including Best Financial Technology and Solution on Foreign Exchange WikiFX-2024.
TU Expert Verdict
WCG Markets demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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WCG Markets User Reviews
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria6 /10The trading and non-trading commissions of WCG Markets have been analyzed and rated as having Medium fees, with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- No inactivity fee
- No deposit fee
- No withdrawal fee
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of WCG Markets with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, WCG Markets’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
WCG Markets Standard spreads WCG Markets OANDA FOREX.com EUR/USD min, pips 0.2 0.1 0.7 EUR/USD max, pips 0.4 0.5 1.2 GPB/USD min, pips 0.4 0.1 0.9 GPB/USD max, pips 1.1 0.5 1.4 Does WCG Markets support RAW/ECN accounts?
As we discovered, WCG Markets does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with WCG Markets. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
WCG Markets Non-Trading Fees WCG Markets OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is WCG Markets Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria8.5 /10WCG Markets has a safety score of 8.5/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record of less than 8 years
WCG Markets Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level Abbreviation FINTRAC Full Name Financial Transactions and Reports Analysis Centre of Canada Country of regulation Canada Investor Protection Fund Regulation Level Tier-1 WCG Markets Security Factors Foundation date 2021 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.3.3 /10WCG Markets offers the following account options: Demo, Standard, Managed.
However, WCG Markets does not provide an ECN account with direct market access, which may be a drawback for experienced traders or scalpers seeking the lowest spreads.
- Demo account
- Low minimum deposit
- Standard account with balanced trading conditions
- No ECN/Raw spread account
- No Swap Free account
WCG Markets account types vs top competitors WCG Markets Trading.com Plus500 Standard YesYesYesECN/Raw spread NoNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged YesNoNoWCG Markets accounts trading conditions
Upon registration of the user account on the WCG Markets website, traders can choose one of two available account types.
Account types:
Account Type Description Real It is an account for trading currencies and different types of CFDs with fiat money on MT4. Leverage and spreads depend on the trading instrument. Trading micro and mini lots is available; Demo This is a training account with conditions similar to the Real account that doesn’t require making deposits. Profit and loss are virtual, since trading is carried out with virtual funds. The virtual deposit provided by the broker is $100,000. Currently, cent accounts are not available.
WCG Markets provides an opportunity to test trading conditions in demo mode before switching to the live account. The broker doesn’t provide micro accounts, which is a disadvantage for Forex novice traders.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology4 /10WCG Markets received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
WCG Markets offers limited payment options and accessibility, which may impact its competitiveness.
- Minimum deposit below industry average
- No deposit fee
- Bank wire transfers available
- No withdrawal fee
- BTC payments not accepted
- Only major base currencies available
- BTC not available as a base account currency
What are WCG Markets deposit and withdrawal options?
WCG Markets offers a limited selection of deposit and withdrawal methods, including Bank Wire, Skrill, Neteller. This limitation may restrict flexibility for users, making WCG Markets less competitive for those seeking diverse payment options.
WCG Markets Deposit and Withdrawal Methods vs Competitors WCG Markets Trading.com Plus500 Bank Wire YesYesYesBank card NoYesYesPayPal NoNoYesWise NoNoNoBTC NoNoNoWhat are WCG Markets base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. WCG Markets supports the following base account currencies: CNY.
What are WCG Markets's minimum deposit and withdrawal amounts?
The minimum deposit on WCG Markets is $100, while the minimum withdrawal amount is $100. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact WCG Markets’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria6.3 /10WCG Markets offers a limited selection of trading assets compared to the market average. The platform supports 100 assets in total, including 36 Forex pairs.
- ETFs investing
- Copy trading platform
- Indices trading
- Futures not available
- Small selection of currency pairs
Supported markets vs top competitors
We have compared the range of assets and markets supported by WCG Markets with its competitors, making it easier for you to find the perfect fit.
WCG Markets Trading.com Plus500 Currency pairs 36 69 60 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 100 69 2800 Stocks YesNoYesCommodity futures YesNoYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesNoYesStock indices YesNoYesOptions NoNoYesInvestment options
We also explored the trading assets and products WCG Markets offers for beginner traders and investors who prefer not to engage in active trading.
WCG Markets Trading.com Plus500 Bonds NoNoNoETFs YesNoYesCopy trading YesNoNoPAMM investing NoNoNoManaged accounts YesNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at WCG Markets by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with WCG Markets in 7 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at WCG Markets is $100. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Low minimum deposit requirement
- Fast registration time (up to 15 minutes)
- Fully online account opening process
- Account setup process may feel less convenient for beginners
WCG Markets account opening WCG Markets Trading.com Plus500 Online Registration YesYesYesMinimum deposit $100 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 7 20 KYC time (days) 1 2 3 Is WCG Markets available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
Only traders registered on the WCG Markets website have access to user accounts. The broker provides its services only to citizens of China. To create a user account, follow the instructions below:
Click the “Open Real Account” button on the company's official website.
In the form, enter your name, country, phone number, and email. Also, create or generate a password to protect your user account.
Traders who reside in Mainland China only need to upload identification documents. Residents of other regions only need a passport and confirmation of address, such as a driver's license, permanent resident card, or utility bill for the last three months. Thereafter, you can open an account in your user account, make a deposit, and start trading on a pre-installed platform or in WebTrader.
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Customer Support
Score:We evaluated Customer Support at WCG Markets by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria5 /10Customer support at WCG Markets is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. WCG Markets provides basic support functionality but does not stand out in overall service performance.
InformationWCG Markets provides multiple communication channels, which are available 24/5. The main languages are Chinese and English, but support operators use an online translator at the trader’s request.
- Wide choice of communication channels
- Round-the-clock support on trading days on Forex
- Chat operators’ responses are not always comprehensive
- Requests sent by email can be ignored
To contact the broker, use the following channels:
- email;
- live chat on the website (2 communication channels are available);
- WhatsApp;
- LINE;
- Telegram;
- WeChat;
- Tencent QQ.
There is a feedback form in the Contact Us section. Specify your email and phone number, and the broker’s representative will contact you by one of the above channels. Communication with the broker is also carried out through the Users’ Center.
Contacts Foundation date 2021 Registration address WCG Markets Ltd, 150-10451 Shellbridge Way, Richmond BC V6X 2W8, Canada
FINTRAC, SVGFSA, Hong Kong Customs DepartmentRegulation FINTRAC Licence number:
M20282836Official site https://www.wcgmarkets.com/ Contacts support@wcgmarkets.com 4001 203 612, 4008 428 912
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FAQs
How do reviews describe the regulation and safety measures at WCG Markets?
Reviews note that WCG Markets has a safety score of 8.5/10, which corresponds to a high security level in the provided assessment. The broker is Tier-1 regulated by FINTRAC in Canada, offers negative balance protection, and requires KYC verification, while its relatively short track record since 2021 is mentioned as a drawback and investor compensation details are not specified in the review.
What do reviews say about WCG Markets’ spreads, commissions, and non-trading fees?
According to the review, WCG Markets’ overall fee level is rated as medium with a score of 6/10, but it highlights low Forex trading fees and the absence of deposit, withdrawal, and inactivity fees. The Standard account uses floating spreads, with typical EUR/USD spreads ranging from 0.2 to 0.4 pips and GBP/USD from 0.4 to 1.1 pips, while the lack of RAW/ECN accounts is noted as a disadvantage.
What types of trading accounts are available at WCG Markets and what conditions do they offer?
The review states that WCG Markets offers Demo, Standard (Real), and Managed accounts, with the Real account used for trading currencies and CFDs on MT4 and the Demo account mirroring similar conditions using virtual funds. It also notes that cent and micro accounts are not available, although trading micro and mini lots is mentioned as possible on the Real account, and the demo account typically provides a virtual balance of $100,000.
How do reviews characterize the account opening process with WCG Markets?
The account opening process at WCG Markets is described as fast and straightforward, with online registration taking about 7 minutes and KYC verification usually completed within 1 business day, and a minimum deposit of $100. The review notes that services are provided only to citizens of China and that document requirements differ slightly for residents of Mainland China versus other regions, while also mentioning that the setup process may feel less convenient for some beginners.
What feedback is provided about WCG Markets customer support quality and availability?
Feedback in the review indicates that WCG Markets offers 24/5 support through multiple channels, including email, live chat, WhatsApp, LINE, Telegram, WeChat, Tencent QQ, and a feedback form, with Chinese and English as the main languages. It also notes that response times are moderate, some chat answers may lack detail, and email requests can sometimes be ignored, while operators may use online translation tools when needed.
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