When you search for new Forex brokers a lot of results will appear on Google and it’s up to you to decide where you want to deposit your money. Well, we are here to help you with that by teaching you everything about different brokers. Today, we chose Thewealthcore.
With this broker you can choose between four different accounts and each of them provides something special. You can go with Silver, Gold, Platinum, or VIP Account but why don’t you wait for a little bit and read our review first. Once you know everything about special offers and the quality of service it might be easier to decide on how much money you want to invest.
Quality of service
Unfortunately, there are so many brokers out there that are pretending to provide high-quality service and it is hard to find the one who sticks to its promises and cherishes some important values. That’s the reason I was very happy to see that Thewealthcore is a little bit different than the others.
This is not a broker that will promise to fulfill all of your trading dreams. We all know that’s impossible, so it is a refreshment to see a reasonable broker who is ready to provide the first-class service.
The first thing you get is an excellent web-based platform. There is no need to download any app or software. Simply go to your browser and that’s it. The platform is optimised and you can use it on every device.
Besides optimisation, I am pleased to see the user-friendly design. You can switch between Forex, Commodities, Crypto, Stocks, and Indices on the left side, and on the right side, you will have a chart with maintenance margin, initial margin, trading hours, leverage, etc.
The platform is excellent, and in this Thewealthcore review, I won’t say a single negative word about it. But that is just one piece of the puzzle called the service quality. The other piece is education. In the main menu, you can see the Education Center and that is the first place you need to visit once you arrive at this website.
There is an eBook section and if you are interested to learn about Beginners Strategies, CFDs, and Stocks and Market Analysis you will spend a lot of time here, I guarantee. Also, there is an Asset Index, FAQ, and Glossary. As you can see this broker wants to help you become better and my advice is to accept every opportunity and read every article that is provided.
Speed of response
Let’s imagine one scenario. You decide to become a client, open an account, and deposit. But an error occurs and no matter how hard you try, customer service is not available. What would happen? I am certain you would be disappointed and angry. That’s why I like to dedicate some time to review customer service and speed of response. After all, it’s your money and you deserve to be treated properly.
The first thing you can see at Thewealthcore Support Centre are four different methods for contact. That’s an excellent start, I must admit. Of course, there is an email option. You can send a message to their support or compliance department, depending on the type of request.
Another option is to fill an online form and address your message to a specific department (customer support service, trading platform assistance, general feedback, and complaints). The fact that this broker listed all departments tells us one thing, you will get a fast reply.
The third method is the classic one, phone call. You have the option to choose between a phone line in Australia or the United Kingdom (working hours for phone support are Monday to Friday 08:00 – 12:00 GMT). You will get the same quality of service no matter what you choose, I guarantee that.
The method I always choose is Live Chat. I don’t like to wait for an email reply, so I’d rather send a message using the provided chat. This time the customer representative answered within a couple of minutes and explained to me every concern I had. So, I can only say that the customer supports this broker provides is excellent.
When it comes to transaction speed there are always different things that have an impact. For example, security. If we are dealing with a serious broker, like Thewealthcore, Identity Verification will come before each withdrawal and it will slow down the process a little bit.
The only thing you can do about that is to prepare all documents in advance. This way someone will be able to review that faster and proceed with the request.
Besides the security checks, the account type you chose also has an impact on transaction speed. With each account comes a different priority withdrawal level. You can choose between four options and the first one is Silver Account. In case you go with it, the waiting time is from seven to ten business days. Gold Account has prioritized withdrawal process Level 3, Platinum has Level 2 and with VIP you will receive prioritization Level 1.
So, the worst-case scenario is to wait up to ten business days which is not bad at all. I expected the whole process to be much slower and I am pleased to see how fast it really is.
Hidden fees are a common thing in the Forex world and that’s a fact we cannot change. That’s why it is so refreshing to see a broker who knows the value of transparent trading and provides clients with every single detail.
If you visit the Terms and Conditions page at Thewealthcore website, you can see everything about commissions. There are a few of them. Some are mandatory, like withdrawal fees but there is also a Dormant Account fee that can be avoided.
As I already said, the withdrawal fee is mandatory, but it is only one percent for each withdrawal (a minimum of 30 EUR/USD/GBP and a maximum of 300 EUR/USD/GBP). This fee is automatically deducted from the account balance and the amount is more than reasonable if you ask me.
Aside from that, I mentioned the Dormant Account fee. This one is charged only if your account is not active in a period of 30 days. The amount you need to pay is 99 EUR/USD/GBP and you can avoid it by trading regularly.
The last one I want to mention in this Thewealthcore review is a Refund fee. Yes, this broker does refunds and if you are not satisfied you can make a refund request. In that case, you will have to pay a fee of one percent. I have to say again, this is more than reasonable especially if we have in mind that a broker doesn’t need to do refunds at all.
From everything I saw about this broker, I can certainly tell license is the only thing that is missing. But I actually don’t mind that at all. Yes, it is important to have a license but that refers to the brokers who offer the questionable quality of service. With Thewealthcore that is not the case at all.
This broker provides excellent service and puts clients in the first place. You can always be certain about the security of the funds and that is the most important thing of all. So, would I recommend this broker even without a license? Absolutely.
Variety of payment methods
If everything we just discussed satisfies your trading appetite and you decide to open an account, the next step would be to deposit funds. There are three ways you can do that. One option is Credit Card, the other option is Bank Wire, and lastly, Bitcoin Transfer. It’s completely up to you to decide which method you prefer, but the one you choose for deposit needs to be the one you will select when you withdraw money.
There is one thing about the Credit Card method that surprised me, and I need to reflect on it for a little bit. Thewealthcore offers an option for their clients to use multiple Credit Cards upon depositing. I wanted to emphasize this because it’s not something common among brokers. It’s hard to implement that in the business and ensure safety. Well, this broker found an ideal solution. You can use as many cards as you want, but when you withdraw funds, equal amounts will be transferred to each card and every additional profit can be withdrawn only via Bank Wire directly to the bank account.
For Bitcoin methods, the minimum amount for withdrawal is equivalent to $250 and the exchange rate is determined on Bitstamp. This is really one thing that amazes me, the transparency of this broker. Every little detail is listed in the Withdrawal, Refund & Cancellation Policy and you can familiarize yourself before opening an account.