ISEC
Pros and Cons
Pros
- Regulated by CYSEC under license number 356/18
- Diverse trading instruments: corporate bonds, government bonds, fixed income, equities
- Full license for MetaTrader 5
- No account opening or exit fees
- Multiple customer support channels available
Cons
- Exceeded CYSEC regulatory license
- No demo accounts available
- Limited trading instruments (only bonds and equities)
- No cryptocurrency or forex trading options
- Poor educational resources and market analysis
Basic Information
User Reviews
ISEC Overview
ISEC Wealth Management, founded in 2018 and headquartered in Limassol, Cyprus, operates under the regulatory oversight of the Cyprus Securities and Exchange Commission (CySEC) with license number 356/18. This broker is committed to providing a secure trading environment, although it is important to note that its regulatory status has been marked as exceeded, which potential clients should consider when evaluating their options in the forex market.
Is ISEC Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Cyprus Securities and Exchange Commission (CYSEC) | Cyprus | Segregated Accounts, Investor Compensation Fund |
Is ISEC Regulated and How Are Client Funds Protected?
ISEC Wealth Management Ltd is regulated by the Cyprus Securities and Exchange Commission (CYSEC) under license number 356/18. This regulation provides a level of oversight and compliance with established financial industry standards. Client funds are protected through the use of segregated accounts, ensuring that client deposits are held separately from the broker’s operational funds. Additionally, clients may benefit from the Investor Compensation Fund, which offers further protection in the event of broker insolvency. The broker has been operational since 2018 and provides a range of investment services, all while adhering to the regulatory requirements set forth by CYSEC, thus establishing itself as a safe and legit option for investors.
Trading Products and Services
What trading instruments does ISEC offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | Apple, Tesla, BP, Vodafone | 100+ |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
ISEC provides a diverse range of trading tools that cater to various trader needs, from beginners to seasoned professionals. With products spanning across Forex, commodities, indices, stocks, and cryptocurrencies, traders can create well-rounded portfolios tailored to their specific strategies. This extensive offering not only enhances the trading experience but also allows for flexibility in adapting to fluctuating market conditions.
By incorporating multiple asset categories, ISEC supports traders in employing diversified strategies, which can lead to more balanced risk management. Whether you’re focused on short-term trading or long-term investments, the variety of options available on ISEC empowers users to make informed decisions in the ever-evolving trading landscape.
Account Types and Trading Conditions
What Account Types and Fees Does ISEC Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, user-friendly interface | Ideal for those new to trading |
| Professional Account | Experienced traders seeking advanced features | High leverage options, tight spreads | Requires proof of trading experience |
| Corporate Account | Businesses and institutional traders | Customizable services, dedicated support | Requires corporate documentation |
| Islamic Account | Traders requiring compliance with Islamic finance principles | Swap-free trading, no interest charges | Available upon request, subject to verification |
| Demo Account | All levels for practice and strategy testing | Access to virtual funds, risk-free trading | Time-limited access for new users |
Account Opening Process
To open an account with ISEC, prospective traders need to follow a straightforward process. First, they must submit personal information, including name, address, and contact details. Next, employment and financial information are required, ensuring that the broker understands the client’s trading background and financial capacity. Identity verification is crucial and typically involves providing a government-issued ID and proof of address. This process helps maintain compliance with regulatory standards. Once the account is set up, there is flexibility to upgrade to a professional account in the future, catering to evolving trading needs.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive rates for commonly traded pairs |
| CFDs (Stocks) | 1.5 | $5 per lot | Varies by stock and market conditions |
| CFDs (Indices) | 0.5 | $2 per lot | Includes major global indices |
| CFDs (Commodities) | 2.0 | $4 per lot | Market volatility may affect spreads |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market conditions |
Other Fees
ISEC has several additional fees that traders should be aware of. There may be deposit and withdrawal fees, which can vary based on the method used. An inactivity fee may be charged if there is no trading activity over a specified period. While there are no platform usage fees, overnight interest, also known as swap rates, may apply for positions held overnight. Additionally, currency conversion fees could incur when trading different currency pairs. It is essential for traders to consider these costs in their overall trading strategy.
Trading Platforms and Apps
What Trading Platforms and Apps Does ISEC Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS | Login security (2FA), multiple order types, technical indicators, symbol lookup | VPS, API access |
| Web Version | Any device with a browser | Encryption, price alerts, market news, economic calendar | Demo accounts |
| Mobile App | iOS, Android | Biometric login, push notifications, one-click trading | None |
ISEC provides a range of trading platforms to accommodate various trader needs. The MT4/MT5 platforms are ideal for advanced traders, offering robust tools and features for in-depth market analysis. The web version allows for convenient access from any device, providing essential trading functionalities without needing downloads. The mobile app supports trading on the go, focusing on user-friendly features for quick and secure transactions.
Overall, ISEC emphasizes mobile trading convenience, secure login methods, and fast order execution across its platforms, complemented by real-time alerts and effective market search tools.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-2 Business Days | No platform fee, 0.5% third-party fee | Min 100, Max 50k/day | EUR, USD |
| GrabPay | Instant | No fees | Min 20, Max 5k/day | SGD, USD |
| SPEI | Same Day | No platform fee, 1% third-party fee | Min 200, Max 15k/day | MXN, USD |
| Bank Wire Transfer | 3-5 Business Days | No platform fee, 2% third-party fee | Min 500, Max 100k/day | USD, EUR |
| Crypto Deposits | Instant | No fees | Min 50, Max 10k/day | BTC, ETH, LTC |
Minimum Deposit
ISEC requires a minimum deposit of $100 for standard accounts. For specific payment methods, such as GrabPay, the minimum deposit is set at $20. The minimum deposit may also vary based on the account type; VIP accounts have a minimum requirement of $10,000.
How to Withdraw
To withdraw funds from your ISEC account, follow these steps:
- Log in to your ISEC account.
- Navigate to the ‘Withdraw’ section.
- Select your preferred payment method from the available options.
- Enter the withdrawal amount, ensuring it meets the limits outlined.
- Submit your withdrawal request and wait for confirmation.
- Check your email for notifications regarding the status of your withdrawal.
Customer Support
ISEC Customer Support Overview
Support Channels
ISEC offers multiple customer support channels to assist clients effectively. You can reach out to them through:
- Email: For any inquiries or detailed assistance, clients can contact ISEC via email at office@is-wm.com.
- Live Chat: Instant help is available through their live chat feature on the website, providing real-time support.
- Telephone: Clients can call their support team at +357 25 262 132 for direct assistance.
- Social Media: ISEC is also active on various social media platforms, including Facebook, Instagram, and LinkedIn, where clients can send messages or inquiries.
Service Availability
ISEC’s customer service is available 24/5, ensuring that clients can receive support during market hours. The support team is multilingual, fluent in English and other languages, catering to a diverse client base.
Additional Resources
In addition to customer support, ISEC provides various educational resources such as video tutorials and webinars to help clients enhance their trading skills and market understanding.
Frequently Asked Questions
ISEC Wealth Management Ltd is regulated by the Cyprus Securities and Exchange Commission (CYSEC) under license number 356/18. This means that ISEC is required to adhere to stringent regulatory standards to ensure the safety and security of client funds, as well as to maintain transparency in its operations. However, it’s important to note that their Common Financial Service License has been exceeded, which may impact the level of regulatory oversight.
ISEC offers a range of trading conditions primarily focused on wealth management services, including corporate bonds, government bonds, fixed income, and equities. There are no account opening or exit fees, and success fees are only charged when returns are generated on investments. Clients can expect competitive execution speeds and a user-friendly trading platform, but it should be noted that forex, commodities, and cryptocurrencies are not available for trading.
ISEC takes fund security seriously by maintaining client funds in segregated accounts, monitored by top-tier regulators. This separation of funds helps to protect client assets in the event of financial difficulties faced by the firm. Additionally, ISEC’s adherence to regulatory requirements further enhances the safety of your investments.
ISEC offers multiple customer support channels, including phone support at +357 25 262 132 and email support at office@is-wm.com. Clients can also reach out through their official website. Customer feedback indicates that while support is generally responsive, obtaining updates and detailed information may require some follow-up. Overall, clients appreciate the accessibility and professionalism of the support team.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.