Warren Bowie and Smith is a Contract for Difference (CFD) online trading platform registered in the countries of Cyprus and Mauritius. CFD trading is banned in some parts of the world. However, Investopedia.com states that this type of trading has increased in popularity considerably over the past decade.
Like other types of investing, CFD trading can be risky, and CFD trading scams have occurred. However, there are also legitimate sites available to CFD investors, such as the WBS platform. Here is what potential CFD investors should know about the legitimacy of the WBS platform.
What Is a CFD Trading Platform?
CFD trading allows investors to speculate on various financial markets. This includes cryptocurrencies, stocks, commodities, indices, forex pairs, and stocks. An investor never buys the assets. Instead, they enter into a contract with a seller to trade on the increase or decrease of the asset price, typically over a period of less than one day.
An investor who acts as a buyer profits when the asset price goes up. Investors who are sellers benefit when the price moves down.
CFD trading is banned in some countries, but it is a legitimate form of trading in many others. Some countries have regulations for CFD trading, while some are unregulated. For this reason, investors do need to be careful when selecting a CFD platform because there are some scam platforms in existence.
In 2021, Bloomberg.com reported on the biggest CFD trading scams over the past decade. There were a number that resulted in significant losses for many investors. But like with anything, a few illegitimate platforms does not mean all CFD platforms are a scam.
Warren Bowie and Smith Trade Products
Warren Bowie and Smith offers CFDs in commodities, cryptocurrencies, stocks, currencies, ETFs, indices, and options. Here is a brief overview of some of the most popular trade products.
Commodities – A commodity is typically used to produce other goods or serves for some service. The commodities market includes metals, crops, and livestock. Gold, copper, silver, corn, soybeans, and crude oil are the most popular global commodities.
Stocks – CFD traders can profit from any stock in the world, even U.S. companies, without actually buying or owning the stocks.
Currencies – Currencies are popular for CFD trading since currency trades are taking place on Forex (the currency marketplace) around the clock. Many currency trades only require a small investment.
ETFs – Like with stocks, CFD investors can trade on most any ETFs without actually owning them.
Indices – Indices are a “basket” of securities. They represent an overall change in the value of securities listed on a particular market.
PROfit Platform Features
The Warren Bowie and Smith CFD trading platform is called the PROfit platform and offers over 200 financial instruments to trade. The platform operates in many different languages and provides around-the-clock market updates so investors can trade from anywhere in the world.
The platform provides investors access to global markets and the research and trading tools necessary to choose trades wisely. Some products also come with personal account managers who can explain how the platform and particular types of trades work.
The platform can be customized to match an investor’s specific needs and preferred trading strategies. Other features include: free email & push notifications on market events, alerts on price movements, Stop Loss/Take Profit options, and Trader’s Trends.
Warren Bowie and Smith Commissions
The commission an investor pays for a CFD transaction depends on the size of the order. This commission is referred to as the spread. It is automatically taken from the investment equity when a position is opened. Because of the spread, each trade starts at a negative balance in relation to the spread amount.
Warren Bowie and Smith provide investors with a “Trading Simulator” on the platform that allows investors to calculate a trade’s potential profit, loss, and spread. It is essential to make sure any potential trade will cover the spread.
Is the Platform Safe?
According to the Warren Bowie and Smith online help, the broker is fully licensed and regulated. Additionally, any available withdrawable equity in a trading account is protected and guaranteed at all times, even if the company goes bankrupt.
Investors new to the platform may want to start with WBS products initially protected from loss positions. This feature is unique to the WBS platform. It allows new traders to try CFD investing at no risk. New investors can only profit from their first trades.
Additionally, starting with products that provide access to training sessions and a personal account manager can help new investors better understand the platform and how particular product trades work.
As for data security, customer data is protected by SSL. SSL transfers all sensitive information submitted by investors to a secure environment. Investors can access the platform online or with the mobile app.
Investors who need technical support can reach out to the in-platform support team, which is available 24/7.
Getting Started with Warren Bowie and Smith
Investors can start small until they get a sense of the platform’s legitimacy. Investors can get started trading on the Warren Bowie and Smith platform for as little as $200.
While an investor might need more than that to make any significant trade, the platform does not require a big upfront investment. This can allow a user to get a feel for the platform without putting up a lot of money.
Is Warren Bowie and Smith a Scam?
While the Warren Bowie and Smith trading platform is not a scam, CFD trading, like a lot of trading, can be risky. Traders must be knowledgeable in what they are trading and how the trading works. This is why WBS provides loss protection and account managers to new investors.
To learn more about trading on the WBS platform, contact us with any questions you may have.