Warren Bowie & Smith: Know Pros & Cons Before Trading
Warren Bowie and Smith is an online brokerage platform that was launched in Mauritius in 2020. It was designed by a team comprising of software developers, bankers, and experienced traders so that it can provide a commission-free and efficient trading experience. The broker is regulated by Financial Services Commission hence it is completely safe and reliable. Its services are available in almost every country of the world except those countries where CFD trading is not allowed.
Every platform has its advantages and disadvantages which make it different from the others. There are hundreds of platforms available on the internet so a trader must check the pros and cons of the broker before trading through it. In this Warren Bowie & Smith review, I am going to tell you about all its pros and cons.
Pros of Warren Bowie & Smith
Pro no.1 Zero Fees
Warren Bowie & Smith is a broker which doesn’t charge any fees aside from spreads and the roll-over fee. It means that the broker is affordable, especially for traders with low capital. The initial deposit limit is also kept at 200 US dollars only which increases public interest in Warren Bowie & Smith.
Pro no.2 Lots of Trading Instruments
Warren Bowie & Smith is an all-in-one platform which means that you can trade everything there such as stocks, commodities, forex, ETFs, and CFDs. A larger number of trading instruments helps traders in the diversification of portfolios which ultimately reduces the trading risks.
Pro no.3 An Account Manager
Trading is undoubtedly a lucrative business but it comes with a bundle of risks as well, especially the CFDs trading. Beginner-level traders may find it more complex as compared to others that is why Warren Bowie & Smith provides an account manager to every client who helps them on each step. The account managers are well trained and experts in the field of trading.
Pro no.4 Efficient Platform
The trading platform of Warren Bowie & Smith is named “PROfit” and it is a smooth and fast platform that can handle thousands of trades and transactions at a time. It will not be wrong if I say that “PROfit” is a combination of looks and power in one package. It is loaded with dozens of trading tools that semi-automate the trading process for the users.
Pro no.5 Margin Liquidation
Under this protection feature, the platform automatically closes all positions when the account balance reaches zero. This feature saves them from being liable for any amount bigger as compared to the deposited money. In other words, it stops balance from falling in negative digits.
Cons of Warren Bowie & Smith
Con no.1 No Demo Account
At the moment this broker is not offering any demo account to its clients and relying only on its account managers to train the clients. A reason for not providing a demo account is that this broker doesn’t offer any account at all and instead offers protected positions.
Con no.2 No Referral Program
Warren Bowie & Smith doesn’t offer any kind of referral program at the moment. Referral programs increase the number of clients but this broker has already thousands of clients hence it doesn’t offer any incentive to allure more traders. The lack of a referral program is a major drawback of this platform according to plenty of traders.
How To Get Started with Warren Bowie & Smith?
If you think that the pros of Warren Bowie & Smith are more than its cons then let me tell you how to get started using this brokerage platform. It has a mandatory sign-up procedure that every trader needs to go through to be allowed to trade using PROfit. The registration form is available on the platform which requires some basic information such as
- Full name
- Mobile number with country code
- Country of origin
- Email address
- A password of a minimum of 8 characters
After entering this information, the clients have to agree with the terms and conditions of the broker and I recommend you to read the terms thoroughly whenever you sign up for anything. This is the last step of the registration process and then you will be moved to the next step which is to deposit your trading funds in your account.
Deposit & Withdrawal Methods
Warren Bowie & Smith accepts deposits via credit/debit cards, wire transfers, and electronic transfers. It depends on the client which method he opts for but the electronic and credit card options are the fastest as the transfers are completed and verified within seconds while the wire transfer option can take up to 2 working days.
The same options can be used to withdraw profits and the funds as well. Traders require approval from the broker before the withdrawal is initiated. It is actually a short verification process in which the broker contacts the client to make sure that it is he himself who wants to withdraw the money.
Complaints Handling Strategy with Warren Bowie & Smith
A solid reason why people choose Warren Bowie & Smith is that it has a robust customer support service. It has a well-defined complaints handling system in which it filters the complaints so that they reach the related department for resolution. The broker categorizes queries into four following categories
- General queries
- Technical issues related queries
- Deposits related queries
- Withdrawals related queries
When a client contacts the broker through the ‘contact us’ form at the platform, he is asked to select the type of query so that it can be forwarded to the most relevant person. Aside from the contact us form, the broker can be reached by email as well as phone numbers. It answers emails and calls 24/7 and has a regular presence on social media platforms as well such as Facebook and YouTube.
Is it ease of use the platform of Warren Bowie & Smith?
At the beginning of my career, I used to trade using the web platform of Warren Bowie & Smith and it provided me with a wonderful experience. Over time my everyday routine got hectic and became difficult for me to give proper time to trading hence I started using the mobile version of the platform. Both versions of the platform are easy to use but the mobile PROfit is the easiest way to avail the services of Warren Bowie & Smith. It is smooth and provides a user-friendly interface.
The platforms provide Stop Loss/ Take Profit options, free-market events notifications, price movement alerts, and an economic calendar. Both the platforms are perfectly optimized and compatible with every type of device such as Android and iOS to match the personal requirements of every trader. Its mobile app is easily available on App Store and Play Store with the name PROfit Mobile Trading.
A Reliable Platform?
For every trader, security is something that cannot be compromised. In the absence of a good security system, no one can be sure that his funds will remain secure. Warren Bowie & Smith understands that traders need security more than any other feature. Traders are mostly tense about a couple of important things, personal information, and money. The broker at hand has implemented some security policies so that the security of traders is never compromised. These policies are called KYC (Know Your Customer) and AML (Anti Money Laundering). These policies are considered the backbone of financial institutions and this broker has adopted these policies so that its traders feel a sense of security while using this platform.
Additionally, the broker has added encryption technology to its arsenal. It is called SSL (Secure Socket Layer) encryption which can encrypt information under multiple security layers. It helps to secure every bit of information so that it is not misused as only some authorized persons are given access to it. The information once encoded by this software cannot be decoded by hackers.
Trading Options by Warren Bowie & Smith
It doesn’t matter whether a trader is new or experienced, having plenty of trading options is a plus point for every trader. Multiple trading options help traders to diversify their portfolios. In case you want to trade multiple assets then Warren Bowie & Smith is the right option for you because here you can trade stocks of popular companies, oil and food items, famous indices, and hot cryptocurrencies. In addition to these, you can also trade Exchange Traded Funds and Contracts for Deposits.
Warren Bowie & Smith is primarily renowned as a CFDs broker. CFD trading is in demand nowadays as it allows to invest in assets with better opportunities. It means that your investment will be automatically directed to a more profitable option and the market will also be balanced by the broker because it allows CFDs trading.
Warren Bowie & Smith has rapidly become a household name. It has never been hacked so far and has an excellent history of service. When all its features are combined, a complete option for traders develops. Having an eye on all its pros, I recommend you to visit this broker and see if the information provided in this review is correct or not.