Table of contents:
- 1 What is behind WH Selfinvest?
- 2 Which markets can be traded at WH Selfinvest?
- 3 The trading conditions at WH Selfinvest
- 4 Which platforms does WH Selfinvest offer
- 5 Opportunities for training and further education
- 6 Customer Service at WH Selfinvest
- 7 Conclusion
WH Selfinvest user-ratings $500
- Asset varierity - 9.5/109.5/10
- Trading platform - 8.5/108.5/10
- Support - 10/1010/10
- Fees - 8/108/10
- Deposit/Withdrawal - 10/1010/10
Facts about the company:
- Type: Stocks, Future, CFD, and Forex broker
- Regulation: CSSF (LU), FSMA (BE), BaFin (DE)
- Minimum deposit: 500Dollars
- Demo account: Free
- Markets: 5,000+ Forex, CFDs, Stocks, Futures, Shares, Indices, Bonds, Commodities, ETFs
- Free and unlimited demo account access
- Regulated by multiple official institutions
- Large variety of available assets
- Extensive educational material
- Overall very low spreads
- High minimum deposit of 500 Dollars with CFD trading
- Minimum deposit of 5,000 Dollars when trading Stocks or Futures
What is behind WH Selfinvest?
The online broker WH Selfinvest was founded in Luxembourg in 1998 and is therefore one of the first online brokers ever to operate in the Forex and CFD sector. WH Selfinvest sees itself as a real online broker and abstracts itself strictly from the term “market maker”. WH Selfinvest’s declared goal is still essential to provide its clients with state-of-the-art technology and powerful platforms for trading at low spreads.
At the time of writing, the online broker has already expanded into around 30 different countries and is available to its customers as direct contact in the local branches. Among others, there is also a German branch office in Frankfurt am Main. The trading at WH Selfinvest focuses especially on the Forex area, trading with futures as well as CFD trading and stock trading.
Customers can trade more than 5,000 CFDs and over 80 different currency pairs at the online broker WH Selfinvest.
WH Selfinvest Awards
In the past years as an established online broker, WH Selfinvest has received many different awards for its services and offers.
The execution of all awards would go far beyond the scope of this report. For this reason, only some of the current awards are mentioned here. However, if you are interested, you can view all awards on WH Selfinvest’s website.
- First place as “Futures Broker of the Year 2019”
- and second place as “CFD Broker of the Year 2019” in the annual Broker of the Year Awards.
WH Selfinvest received the first mentioned award five times in the past six years.14-time award by the market research company “Investment Trends”, among others in the areas of
- customer service,
- selection of markets and currency pairs,
- price-performance ratio, etc.
- Award in July 2019 by the renowned financial magazine “€uro am Sonntag” as best CFD broker in the areas of pricing and order execution.
- 5-star rating by Deutsches Kundeninstitut, among other things for the customer service offered, the trading platforms and the order possibilities as well as the award as “Best CFD Broker 2019”.
Regulation and deposit protection
An important aspect for interested investors when choosing their broker is always regulation. First of all, it should be mentioned in this context that WH Selfinvest has the “stockbroker license”, the “commission agent license” as well as the “asset manager license”. The online broker WH Selfinvest is regulated by the “Commission de Surveillance du Secteur Financier” (CSSF) in Luxembourg.
In addition, the company now also has branches in several other European countries, which are regulated by the corresponding national institutions. The Belgian branch, for example, is controlled by the “Financial Services and Market Authority” (FSMA), the branch in Germany by the “Bundesanstalt für Finanzdienstleistungsaufsicht” (BaFin).
In addition, customers’ deposited funds are held in safe custody and secured separately from the company’s own capital. These capital contributions are held in safe custody at reputable banking institutions, depending on the branch. These banking institutions include the following:
- ED&F MAN
- BIL (Banque Internationale à Luxembourg)
- LCL (Le Crédit Lyonnais)
- ING Bank
Which markets can be traded at WH Selfinvest?
The next step is to investigate in more detail which tradable markets are available to clients at WH Selfinvest. As mentioned briefly at the beginning, the online broker offers a relatively large range of trading instruments with over 5,000 underlying instruments in the categories of stocks, indices, commodities, and foreign exchange as well as futures.
Futures are always traded on an exchange. WH Selfinvest focuses on ultra-fast execution of orders using tick-by-tick data, which means that slippage can only occur in extremely rare cases. At WH Selfinvest, numerous other futures can be traded in addition to the popular markets such as DAX & Co. For the real-time market data, fees are charged by the respective stock exchanges, which WH Selfinvest has to pass on to its clients.
In addition, WH Selfinvest can use tick charts, range bars and Renko, which provide investors with all relevant information and details at any time. The tick-by-tick data is many times more reliable and precise compared to the half-second snapshot data – which are offered by some brokers.
The product range at WH Selfinvest is enormous with over 5,000 CFDs and currency pairs. These are divided into the following groups
- Market indices (cash and futures)
- Interest and Bonds
- Major commodities (cash and futures on metals, energy agricultural commodities)
- Shares and ETFs
81 currency pairs
Any folder size from 1,000 can be used. The available Forex pairs can be traded 24 hours a day, six days a week. And unlike many other brokers, WH Selfinvest has no dealing spread – i.e. no additional markup on the market spread. Last but not least, the online broker also provides its clients with numerous helpful and free trading tools.
In the area of stock trading, the online broker cooperates with the company Interactive Brokers. For this reason, existing accounts there can be transferred to WH Selfinvest free of charge and without closing positions.
And WH Selfinvest also offers its clients a number of options when trading in shares. In addition to low commissions, which will be explained in more detail in the following chapter, direct market access also ensures that orders are executed quickly and accurately. Furthermore, the shares, options, warrants and ETFs can be traded on 120 stock exchanges in 26 countries.
The trading conditions at WH Selfinvest
Now that we have established which tradable markets are offered by WH Selfinvest, the next step is to take a closer look at the trading conditions.
The spreads for the futures are usually very narrow and fair at the online broker WH Selfinvest. In general, however, the fees for trading futures always depend on the respective exchanges and are therefore subject to certain fluctuations.
At the current time of consideration, an order fee for the DAX future costs 0.95 Dollars. The listed futures are provided by Eurex, one of the “world’s largest derivatives exchanges”. In addition to Eurex, WH Selfinvest customers can also choose from a number of other options.
For the real-time data, there are additional costs depending on the selected exchange. At Eurex, the monthly fee is currently 24 Dollars.
Next, we will look at the fees involved in trading CFDs. Here too, the online broker scores with very narrow spreads, which start at 0.3 points for the main indices. The spread of DAX CFDs can also be traded between 9:00 am and 05:30 pm with only 0.8 points.
At WH Selfinvest the market spread is not widened – there is therefore no fee premium in the form of dealing spreads. In addition, the online broker offers real-time prices free of charge, which are provided by the international news agency Reuters and the corresponding stock exchanges.
It is also important to mention that there are no hidden costs with WH Selfinvest. In this context, there are no costs for orders or liquidations executed by the telephone. Also, there are no costs associated with the modification or removal of orders. Unlike many competitors, there are also no fees for account inactivity.
As a client of WH Selfinvest you can choose between two account options:
- Mini Account (low, variable fee)
- Standard account (fixed fee)
While the mini account charges a variable fee, the standard account offers a fixed fee. In the following, the exact fees for trading CFDs will be shown.
Conditions for CFDs on indices, bonds and commodities:
|Mini account||Standard account|
|0.007% of the order size; No minimum required||4 Dollars fixed costs per order|
Maintaining a mini account is particularly recommended for traders with small orders, while the standard account is aimed at investors with a larger order volume. The trading conditions for trading CFDs on shares and ETFs are somewhat different.
Conditions for CFDs on shares and ETFs :
|Europe||0.07% per order placed|
|North America||$ 0.027 per share|
|Australia||0.07% per order placed|
|Asia||0.4% per order placed|
As can be seen, the conditions for CFD trading on shares and ETFs differ depending on the region, but all have a minimum commission of 9 Dollars in common. However, the minimum commission is always calculated in the base currency of the corresponding share and is usually set a little higher.
Although the Forex currency pairs offered at WH Selfinvest can also be traded as CFDs, there are some differences in trading conditions.
First of all, as a client you can choose between commission-based and spread-based forex trading.
Spread-based Forex trading
A key feature of spread-based Forex trading is that no commissions are charged. However, the variable spreads depending on market conditions. If there is a high trading volume, the spreads are correspondingly lower. In addition, imminent or recently published economic news has no direct influence on the size of the spreads. However, it should be noted that spread-based currency trading is not available in the Mini Account.
Commission-based Forex trading
In this context, customers always trade with fixed spreads. This also favors, for example, a “precise backtesting” of trading strategies, as the customer is aware at all times of the spread of order execution.
In contrast to spread-based trading, clients can also use the MetaTrader 4 trading platform. It should also be noted that commissions are charged entirely directly on opening a position, both for entry and exit, so no further commission is charged for closing a position. In this case, the commission is 3.5 percent per 1,000 units traded in the underlying currency. Spreads here start as low as 1.0 pips for the EUR/USD and USD/JPY currency pairs.
The spreads of all offered currency pairs can be found in the “Contract Specifications” section of the WH Selfinvest website. In spread-based trading, the spreads are of course slightly higher. Finally, we will briefly discuss the margin on CFD trading in foreign exchange. This is either 3.33% or 5.00% depending on the currency pair selected.
Finally, we will briefly discuss the trading conditions for stock trading. The commissions are clearly shown in the following table.
|Shares and ETFs (in EUR)||0.09%||3.95 euros|
|Shares and ETFs (in CHF)||0.09%||9.95 Swiss Francs|
|Equities and ETFs (in USD)||$ 0.01 per share||$ 1.95|
|Structured products (in EUR)||0.19%||5.95 euros|
Which platforms does WH Selfinvest offer
After the last chapter has dealt in detail with the conditions of the different trading instruments, the trading platforms at WH Selfinvest will now be presented.
NanoTrader Free and NanoTrader Full
With the trading platforms NanoTrader Free and NanoTrader Full, WH Selfinvest offers its clients a specially developed multifunctional software for trading. For beginners, the free version is especially recommended at the beginning. Here users can familiarize themselves with the basic functions. The free version already includes many useful tools such as the WHS TechScan, which analyzes more than 100 indicators of technical analysis, statistics, and trading strategies every day.
In the full version, the customer has unlimited access to all the software’s functions. The central functions and features of NanoTrader are
- 80 integrated, ready-made trading strategies and signals
- 15 integrated trading tools
- 30 integrated screeners and scanners
- 10 different chart types (including range bars, tick charts, Renko charts, etc.), 15 drawing tools, and 200 technical indicators
- Twin Charts
- Unlimited use of the demo account
- Uncomplicated creation and management of orders
- Manual and automated trading possible
- Mobile versions for smartphones and tablets
A change between the different platforms at WH Selfinvest is possible at any time. NanoTrader has been awarded several times in the past years for its reliability and numerous functions. The monthly fee for using NanoTrader Full is 35 Dollars.
In addition to the proprietary trading platform NanoTrader, WH Selfinvest customers can also trade with the popular platform MetaTrader 4. The use of the platform is free of charge, but there are only limited functions available. For example, only trading with CFDs and commission-based currency pairs is possible.
With NinjaTrader, the online broker WH Selfinvest offers another trading platform where clients can trade both futures and CFD forex. Users of the NinjaTrader platform enjoy here the advantage of favorable trading conditions, as well as fast execution of orders and competent support.
The trading platform offers a variety of helpful tools such as advanced charting with individually configurable charts, a chart trader with 1-click trading, and modern trade management with already integrated, advanced trading strategies as well as the possibility of fully automated trading.
In terms of costs, the NinjaTrader is priced at $225 per quarter, or $75 per month.
Demo account with WH Selfinvest
For each of the online trading platforms described above, the Online Broker also offers a free demo version. Unlike many other brokers, this can be used indefinitely and has no expiry date. And even as an existing customer with a live account, the demo account can be used at any time.
|Free of charge||None|
Deposits and withdrawals at WH Selfinvest
For deposits, WH Selfinvest offers its clients the classical bank transfer as a possibility. The amount of the minimum deposit varies depending on whether CFDs, stocks, or futures are traded. For trading in stocks and futures, the minimum deposit is 5,924 Dollars, whereas only 593 Dollars are required for trading CFDs. A deposit also costs six Dollars.
|Minimum deposit with stocks and futures:||Minimum deposit CFD trading:|
|5,000 Dollars||500 Dollars|
Conversely, withdrawals from the customer’s account are made quite simply by means of a corresponding instruction in the account management. One free payout per month is even possible. However, a flat fee of ten dollars will be charged for each additional payout.
Opportunities for training and further education
For all clients and those interested in the stock exchange, WH Selfinvest also offers some opportunities to further educate themselves in the trading and financial sector. This includes first and foremost
- the webinars
- and offered seminars
in which the participants receive useful know-how. While beginners are explained the functions and advantages of the different platforms, advanced traders and investors can learn more about market analysis and the development of effective trading strategies.
Customer Service at WH Selfinvest
Last but not least, a look at the customer service at WH Selfinvest will be given. For e.g. German speaking customers, a service team is available daily from 8:00 am to 10:00 pm from Monday to Friday. If desired, an e-mail can be sent or the live chat can be used. Usually you will receive a competent answer within a very short time.
|Support available:||14 hours per work day|
|Telephone:||+352 42 80 42 80|
In conclusion, it can be said that WH Selfinvest is a serious and established online broker, which is one of the first companies in the trading sector. The experience reports on the internet are mostly very positive, which is due to the large range of tradable instruments as well as the multifunctional trading platform NanoTrader. Another positive aspect is that WH Selfinvest always provides its customers with tick-by-tick data. WH Selfinvest is therefore suitable for both beginners and advanced investors.
Most asked questions
Where is WH Selfinvest based?
The online broker was founded in Luxembourg but has approximately over 30 branches in other countries such as Belgium or Germany.
Is WH Selfinvest Regulated?
Yes. Being based in Luxembourg, the company is subject to regulation by the (CSSF). Furthermore the regulatory authorities of the respective countries are involved as well, for example in Germany the BaFin is responsible for regulating the broker.
Does WH Selfinvest offer a demo account?
Yes, the company does indeed offer an unlimited demo account free of charge for every available platform.
Which assets can I trade with WH Selfinvest?
There is a variety of tradable assets available such as for example bonds, futures, shares, indices or commodities. The estimated number of CFDs offered for trading is 5,000.