WH SelfInvest Review 2024

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WH SelfInvest is a comprehensive online trading broker that offers a significant range of asset types, including favourites like forex, CFDs, futures, stocks and mutual funds. This 2024 review cuts through the noise to provide the most relevant information, such as available leverage, forex spreads and commissions, supported trading platforms and minimum deposit values. Read on to learn more about the WH SelfInvest service.

About WH SelfInvest

With more than 20 years of experience connecting clients with the financial markets, Luxembourg-based WH SelfInvest Ltd. offers brokerage services to clients via several European offices. From locations in Frankfurt, Zurich and Paris, the company provides a competitive range of investment types all under one roof.

With several platform options, including its proprietary NanoTrader software, the company focuses on its signals and automation services, providing clients with tested solutions from experienced industry professionals. In addition, the broker boasts supervision from several reputable European regulators, such as the CSSF of Luxembourg and French ACPR.

Asset Types & Markets

WH SelfInvest provides a broad offering of asset types and markets to its clients, allowing investors to create advanced trading and hedging strategies under one roof. Over 100,000 instruments are available through the broker, spanning forex, CFDs, futures, equities, ETFs, mutual funds and cryptocurrency.

Forex

Seventy-eight forex products are available from WH SelfInvest, with plenty of major, minor and exotic currency pairs on offer. Clients can choose between fixed or variable spread forex speculation, with variable spreads starting from 0.8 pips and fixed spreads at 1.0 pips.

CFDs

Hundreds of CFD instruments are provided by the firm, spanning the indices, commodities, stocks, bonds and interest rates markets.

Clients can trade 22 spot indices, 20 futures indices and seven thematic indices such as ESG, remote working and Brexit-centric groupings.

In terms of commodities, there are nine metals, eleven energies and a sizeable 22 soft and agricultural commodities. Stocks are available for trading from 16 global jurisdictions, though UK equities are not supported. Nine bonds and three interest rate CFD products round off this asset class.

Futures

Over 100 futures instruments are provided through WH SelfInvest, drawing from global exchanges including the CME, EUREX and ICE US and EU. Clients can speculate on commodities, indices and several other markets.

Equities

Stocks from 21 global exchanges are available for spot investing, spanning major UK, EU, Asian and American markets.

The broker offers a “stock box” service, which allows clients to automatically track the best performers from a selected index without the need to pay mutual fund fees.

Mutual Funds & ETFs

Additional investing options are supplied in the form of mutual funds and ETFs. Over 20,000 ETFs from big-name providers such as Vanguard and iShares are supported. In addition, more than 10,000 mutual funds from 200+ providers are provided, including 2,800 low-cost funds to help clients keep more of their money.

Cryptocurrency

Twenty-three cryptocurrencies are available to trade directly against either USD or EUR, including Bitcoin and Ethereum. While some brokers only facilitate crypto trading via indirect funds, ETFs or warrants, WH SelfInvest offers customers the opportunity to own tokens directly without the need for an external wallet.

Leverage

As a European brokerage, WH SelfInvest follows the ESMA regulations regarding maximum leverage available to retail clients. These CFD and futures margin levels are relatively low but will be familiar to traders that have some experience with FCA-regulated brokers:

• 1:30 on major forex pairs
• 1:20 on other forex instruments, major indices and gold
• 1:10 on other indices and all other commodities
• 1:5 on stocks and bonds
• 1:2 on cryptocurrency

WH SelfInvest makes a margin call when an account’s capital dips below 100% margin level and enforces a stop out at 50% margin level.

Account Types

To provide a bespoke service across its range of products, WH SelfInvest offers three main account types: a forex and CFD account, a futures account and an investment account for stocks, ETFs, crypto and mutual funds. Customers can link several accounts to manage them all from one place.

Unfortunately, there is no swap-free or interest-free Islamic account available from the broker.

CFD & Forex Account

With a CFD-forex account, clients choose between base currencies of EUR, USD and CHF and opt for either a spread-based or commission-based model. This account is available with either the NanoTrader or MT4 platforms. However, the broker allows users to access their services through different software in some instances.

This account is available as a mini or standard variant, each with different commission structures and account minimums. The mini variant requires a £420 account minimum and charges a 0.007% commission on CFDs. A CFD-forex standard account needs a £2,100 initial minimum deposit and charges a fixed £2.50 commission per order on CFDs, with volume-based rebates available.

Futures Account

Futures traders can choose from an account with the base currency of EUR, USD and CHF. Clients can specify the market data and platform they wish to receive from eight preset packs or customise their own combo. There is no account minimum required to open a futures account.

Stocks/Investment Account

The final WH SelfInvest account variant is the stocks account, which allows investors to trade equities, ETFs, mutual funds and cryptocurrencies.

This variant uses Interactive Brokers (IBKR) and its massive range of assets to operate but, as such, requires a significant £4,200 initial minimum deposit. Users that wish to day-trade US stocks must maintain a balance exceeding £20,500.

Again, clients must choose between EUR, CHF and USD for the base currency of this account. Stocks and ETFs are charged a commission of 0.09% (£3.30 minimum) when trading in EUR and £0.008 per share (£1.60 minimum) for USD accounts.

Demo Account

Before committing to a new service, many like to trial the investing conditions a broker provides. WH SelfInvest offers clients the chance to open a free demo account based on its CFD-forex and futures accounts and test the NanoTrader platform first-hand.

Trading Platforms

WH SelfInvest supports several native platforms. Clients with specific software preferences such as NinjaTrader or MetaTrader 5 can contact the broker for API access to their preferred platform.

MetaTrader 4

Forex and CFD clients can use the highly popular MetaTrader 4 to manage their positions on selected instruments. Created in 2005, MT4 retains the title of most popular CFD retail platform, primarily due to its simple interface and customisation options.

Featuring 20 indicators, 31 graphical objects and nine time frames as standard, users can also add indicators and expert advisors (EA) from the well-populated MQL4 marketplace. WH SelfInvest clients can also take advantage of nine order types, including the trailing stop for advanced trading strategies.

MetaTrader 4 is available to download for Windows, Mac, Linux, Android and iOS devices through a desktop program and mobile app. Alternatively, investors can access the software via the MetaQuotes WebTrader browser-based web platform.

NanoTrader

The other tool offered by WH SelfInvest is its proprietary NanoTrader platform. With enhanced support for futures and investable assets like mutual funds, crypto and equities, this platform suits all kinds of traders.

The broker markets this platform heavily and has secured many endorsements from successful and well-known speculators, with several market leaders creating automated trading software to use with NanoTrader.

NanoTrader offers ten chart types, twelve categories of drawing tools and many free and paid indicators and signals. Clients also receive a free live market feed, including depth of field data, and can create advanced order types such as adaptive stop losses.

Users can choose between the free and full version of the NanoTrader platform, the latter costing £25 per month and including features for experienced traders. However, NanoTrader is not available for PC, Mac or Linux download and must be accessed via the web platform login or mobile app.

Other Platforms

WH SelfInvest supports several other platforms via its dedicated API, such as TradingView and the order books scalping software ATAS.

Payment Methods

Unfortunately, the broker only supports bank wire transfer deposits and withdrawals as its sole payment method.

There is no minimum deposit for non-initial payments. However, to open an account, traders must deposit between £420 and £4,200. Bank wire transfers usually take from 3 to 5 working days to clear.

Deposit & Withdrawal Fees

There is no charge for depositing to your WH SelfInvest account, though bank fees will apply when making an international wire transfer. Additionally, clients are only allowed one free withdrawal per calendar month, with subsequent transfers subject to an £8.40 fee.

Trading Fees

Brokers with high trading fees are often passed over by capital-conscious traders looking to keep more of their profits.

While WH SelfInvest provides competitive CFD and forex spreads on its instruments, there are plenty of platform and data fees associated with its NanoTrader platform. The full version of the software costs £25 per month and data crucial to futures traders can cost over £90 per month.

Luckily, trading commissions are low across the board, with futures fees charged at a base rate of £2.50 per trade. This fee is subject to rebates for high-volume traders that opt into one of the brokers’ discount packages. Furthermore, commissions on stocks and ETFs start from 0.09% or $0.01 per share, while mutual fund speculation comes with a 0.5% fee per order.

There is an £8.40 monthly inactivity charge levied on traders with total monthly commissions of less than £8.40, which will not suit small-scale or sporadic investors.

Security & Regulation

Picking a reputably regulated broker with comprehensive security measures is the best way to avoid scams in the online financial space.

Safety is where WH SelfInvest shines, with licences from several prominent European bodies offering a secure and regulated environment for clients to trade confidently.

Additionally, the broker supports two-factor authentication (2FA) login protection to enhance security on its platforms and client login portal.

Customer Support

WH SelfInvest offers several avenues for prospective clients and full users to get in touch with its support team. These include email, a support hotline and a live chat feature on its website. However, there is no dedicated contact number or office to serve UK clients.

• English-Speaking Phone Number: +352 42 80 42 80
• Email Address: info@whselfinvest.com

The broker also has a forum where clients can find solutions to known queries and issues, spanning topics such as NanoTrader specifics, forex instruments, minimum deposits and the stock box feature.

Educational Content

An increasing number of brokers are providing their clients with educational content to attract beginner traders to their service.

WH SelfInvest takes a hands-on approach to customer education, offering frequent news posts, webinars and in-person seminars. Unfortunately, not many of these events are in English.

The broker also offers articles on various strategies utilised by famous traders, such as the Friday gold rush and range breakout, often with accompanying videos. A range of trading e-books is available as well, with free and paid options to suit all levels of experience.

Advantages Of WH SelfInvest

• Reputably regulated
• Plenty of account options
• Solid educational content
• Competitive commissions
• Powerful platform support
• Wide range of trading instruments & asset types

Disadvantages Of WH SelfInvest

• No bonuses
• Inactivity fees
• One payment method
• No GBP base currency
• Restricted leverage rates
• High initial minimum deposit

Promotions

Many firms offer seemingly lucrative promotions such as a no deposit bonus, deposit match scheme or risk-free trades to encourage clients to sign up for their service.

While WH SelfInvest is barred from any bonus scheme by strict EU regulations, commission rebates are available for high-volume futures traders that opt-in to one of its data packages and trade 40+ lots per month. Further, existing Interactive Brokers clients can save more than 60% on commissions when using a WH SelfInvest stocks account.

Additional Features

As a broker that is big on the client experience, WH SelfInvest provides a solid range of additional features to give clients the best chance of profitable trading.

In addition to the e-books, signals and indicators available from the store, the company provides a signal radar service that allows clients to view live trades from other investors, providing further insight into market sentiment and momentum.

Traders can also take advantage of volume-based rebates for the VPS service, which uses cloud trading to carry out automated strategies at any time.

While the broker’s website features a new section with the latest company and platform additions, there is no economic calendar nor a trading calculator.

Trading Hours

WH SelfInvest is available for trading 24 hours a day, seven days a week through the NanoTrader platform. However, other software such as MT4 only operates 24/5 alongside the forex market. This means that customers can trade crypto within all hours and take advantage of out-of-hours orders and trades on other markets.

WH SelfInvest Verdict

This WH SelfInvest review has found the broker to offer a comprehensive range of assets and instruments as well as competitive forex spreads and trading commissions. In addition, the firm’s open policy to trading platforms means that investors have plenty of freedom to choose their optimal interface and software conditions. Strong regulation from several leading European bodies allows customers to trade with confidence. However, lacking a GBP base currency and limited account funding options may put off prospective clients from the UK. On top of this, the high initial minimum deposits and aggressive inactivity fee policy will not suit smaller-scale investors.

FAQ

Top 3 WH SelfInvest Alternatives

These brokers are the most similar to WH SelfInvest:

1. Swissquote - Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.
2. IG Index - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
3. IronFX - IronFX is a multi-regulated forex and CFD broker founded in 2010. This award-winning firm offers 500+ markets to over 1.5 million clients across 180 countries. Traders can access various account types with competitive pricing on the MT4 platform, as well as 24/5 customer support in 30 languages.

WH SelfInvest Feature Comparison

Trading Instruments Comparison

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