Switzerland-based WCX lets users trade various financial markets using Bitcoin. The markets that you can trade on WCX include stocks, commodities, cryptocurrencies, and forex. WCX launched its trading platform in October. Since launching, it has served more than 125,000 traders with more than $1 billion in trades.
WCX has its legal entity in the British Virgin Islands and the company is KYC/AML-compliant and self-regulated. These are requirements for external regulation, which WCX is currently seeking within Switzerland despite the fact that there is not any current regulatory framework for cryptocurrency companies like this one. The founders of WCX have experience with Apple, as well as plenty of software engineering and finance experience.
While there are many ways to trade financial markets, it is rare to find a company that lets you do so with BTC. This lets WCX provide greater access to financial markets to those around the world. Additionally, the fact that the company only accepts BTC lets it focus on serving the cryptocurrency community. This also means that it is able to keep costs much lower than those of competing brokers. Customers can then take advantage of those cost savings via tiny spreads and no fees.
100+ Markets
You can view a full list of WCX markets for trading on its website, but there are dozens of choices. All of the sizes in the information are expressed via contracts, with 1 contract being equal to 0.001 BTC. The minimum margin, regardless of markets, is 0.001 BTC. For each trading instrument, you will see the ticker, name, maximum size, maximum leverage, and decay. Overall, WCX provides access to 14 cryptocurrency pairs (including with fiat), 30 forex pairs, 13 indices, eight commodities, and 39 stocks. This leads to the ability to trade more than 100 markets.
Advantages of Trading with WCX
When trading with WCX, you use BTC for both deposits and withdrawals, keeping costs low. The withdrawals are instant, and the deposits are credited following just a single confirmation. The use of BTC also allows WCX to ensure there are no fees for deposits, withdrawals, and trades. There are no fees for opening or closing positions, but decay may apply on open positions. WCX has a decay calculator, as well as rates for every market. There are also no fees to trade on the exchange.
WCX also offers flexible leverage that can be adjusted from 1x to 300x. To make trading highly accessible, the minimum trade size on WCX is just 0.001 BTC. There is also an affiliate program that pays very high, giving a 50 percent revenue share for life.
As mentioned, WCX also complies with KYC/AML, giving you peace of mind.
Key Features of WCX
The team at WCX built its trading engine from the ground up to ensure that it can handle millions of transactions without a problem.
The platform is simple with the trading user interface getting to the point, so you can focus on trading. The platform is easy to use, quick, and streamlined.
WCX is also highly secure, storing 98 percent of funds in offline wallets. The online wallets have insurance against theft for further protection.
At a glance:
- 100+ markets
- 0 fees on trades, deposits, and withdrawals
- Easy to use UI on all devices, with light and dark themes
- Unlimited demo trading
- Tiny spreads
- Bitcoin in, bitcoin out
- BTC deposits credited after 1 confirmation; withdrawals instant
- Flexible leverage that you can adjust between 1x and 300x
- Minimum trade size is just 0.001 BTC
- High-paying affiliate program (50% revenue share for life)
- Friendly support around the clock
- REST and Websocket API
- KYC/AML compliance
WCX Security
As mentioned, WCX stores a minimum of 98 percent of funds in cold wallets. It is technically impossible to compromise these funds since there is no connection or automation connected to them. The 2 percent or less of funds that are in hot wallets are protected by industry-leading security features. Having funds in hot wallets makes it possible to quickly process withdrawals and have the previously mentioned insurance against loss.
There is additional end-to-end encryption, two-factor authentication, and comprehensive distributed denial of service (DDoS) protection. The servers and network are segregated into subnetworks as well as availability zones. They also protect traffic using strict access control, firewalling, and routing. The servers have the latest security software, and the networks use industry-leading DDoS attack protection. The data is aggressively backed up and encrypted, then stored in various secure locations.
In addition to two-factor authentication, WCX encrypts all network traffic connecting the servers and clients with High Assurance SSL. There is brute-force prevention client-side via CAPTCHA, as well as rate throttling systems.
WCX Demo Accounts
WCX does have a demo account, and this is available for an unlimited amount of time. That lets traders hone their skills and is a significant advantage for WCX clients. The demo account gives you 10 BTC to trade with in a risk-free manner.
Trading Screen
WCX has an intuitive user interface across devices, including both light and dark themes to appeal to each trader’s personal preferences. On the center of the trading page, you will see a chart outlining the asset that you select.
To the right of the screen, you will see a list of all the markets, each with percent changes and current values. Click on any of these to change the chart and surrounding information to your chosen instrument.
Using Leverage
Above the chart, you will see key information, such as bid, ask, and 24-hour change. If you click on the asset name in the top-left corner above the chart, you will see the product name, maximum and minimum leverage, maximum size, minimum margin, spread, daily decay rate, and market hours. On the left side of the page, you will find the tickets to create a new trade, either to sell or buy. Below the chart, you can see your positions, orders, and history.
WCX Customer Support
With WCX, traders are able to contact customer support around the clock and get a fast response. You can also visit the Help Center to view answers to common questions or send a message to support.
WCX API
The API from WCX is an industry-leading one. It lets you access real-time data as well as place trades via the WebSocket and REST API. The APIs allow for exchange and margin trading service, and there is clear documentation in place to help developers use the API.
Conclusion
With WCX, users from around the world are able to trade over 100 different assets using BTC. All deposits and withdrawals as well as base currencies are in BTC. This allows the platform to have very tight spreads and no commissions.