WH SelfInvest ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
WH SelfInvest is an online brokerage firm that gives you access to trade an impressive 100,000+ financial markets, including futures, contract for differences (CFDs), forex, stocks, cryptos and options. You can choose to buy and sell assets using an in-house trading platform or other professional third-party platforms including the popular MetaTrader software. I found the broker to have an excellent range of trading tools which can help with analysing the markets and identifying trading signals. If you are a beginner, you will be pleased to find there are some educational resources and free webinars available for you to learn more about the markets. Despite the positives, the minimum deposit of €2,500 for CFD trading is quite high compared to other brokers. Futures trading requires an even greater €5,000 deposit. The customer support is very responsive from my experience. If you are looking to trade in a regulated environment with an established broker, they are certainly worth consideration in my opinion.
Pros & Cons
- Lots of financial instruments to trade
- Real tick-by-tick quotes at no additional cost
- Excellent choice of professional trading platforms
- Powerful trading tools for complex market analysis
- Advanced trading signals and strategies included free of charge
- A good selection of educational resources
- Unlimited access to all training webinars
- Scalping, hedging and automated trading allowed
- Low spreads and low commissions
- No monthly minimum commission
- Minimal slippage and requoting
- High-speed execution speeds
- Free demo trading accounts
- Limited payment options for account funding
- Minimum €2,500 deposit not the lowest
- Cannot accept clients from some countries
- Monthly fee for using NanoTrader
- Funding fees
WH SelfInvest S.A. provides brokerage services and trading solutions for equities, options, forex, and futures. It serves private retail clients and institutional clients in Luxembourg and internationally. The company was founded in 1998 and is based in Luxembourg City, Luxembourg. It has additional branches in Germany and France as well as offices in Belgium, the Netherlands and Switzerland. They are regulated in multiple jurisdictions but do not serve traders from the USA and some other countries.
I found the broker to have one of the largest ranges of financial instruments I have ever seen. You can trade and invest on some of the best trading platforms you will find anywhere. They are not a market maker which means that you should get your trades executed at the best prices with minimal delays. I like how they have a selection of advanced tools to enhance the overall trading experience. This includes trading signals, strategies and screeners. There is also the option of a demo account if you want to get a feel for what the broker can offer before making a financial commitment.
I would like to see them add some more funding options as it is limited to bank transfer which I guess is understandable considering the high deposit requirement that they have. If you are a casual trader that just wants to trade a few instruments, you might find the broker is perhaps too overwhelming. In this instance, you may want to explore Freedom24 as an alternative.
I like how WH SelfInvest is regulated by different authorities as this helps to give me some peace of mind that they must comply with certain rules to protect clients. I would always prefer to trade with a regulated broker as I want to be able to focus on my trading activity without worrying. The broker is regulated in multiple jurisdictions by the following authorities:
- Commission de Surveillance du Secteur Financier (CSSF of Luxembourg)
- The Luxembourg Ministry of Finance
- The Financial Services and Market Authority (FSMA of Belgium)
- The Autoriteit Financiële Markten (AFM of Netherlands)
- The Autorité de Contrôle Prudentiel et de Résolution (ACPR of France)
- Banque de France (Central Bank of France)
- The Bundesanstalt für Finanzdienstleistungsaufsicht (BAFIN of Germany)
- The Swiss Financial Market Supervisory Authority (FINMA of Switzerland)
The broker does not serve residents of Belgium or any particular country where the marketing or the use of the instruments would be against local laws or regulations. If you are from a country where they cannot provide their services, Saxo Bank is another broker with multiple regulation licences that you may consider looking at instead.
I think this broker has a superb choice of industry-leading trading platforms. Whether you are looking to just follow price and manage trades or perform complex analysis using technical indicators, there is a platform for all types of trader. You can choose from the industry standard MetaTrader 4 platform which is more often than not the platform of choice for CFD trading. There is the brokers proprietary NanoTrader platform and the professional Sierra Chart platform for futures trading. They have the ATAS professional trading and analysis platform for order-flow and volume trading. WH SelfInvest traders can have direct access to TradingView from their own accounts. CFDs and Forex can all be traded on these platforms. With the same username and password clients can simply switch between these platforms. Futures traders can also choose the Volfix and Trade Navigator platforms. I would say this could be the most comprehensive selection of platforms that I have seen from any broker. However, they are missing MetaTrader 5 and cTrader, both which you can get through Pepperstone.
The broker provides traders with an in-house developed trading platform known as the NanoTrader. It is available in two versions: NanoTrader Free and NanoTrader Full. The award-winning trading platform is suitable for all kinds of traders and trading styles, and it is packed with a range of advanced trading features and functionalities, including charts, trading signals, scanners, screeners, order placement management, and support for automated trading. You can get easy access to the platform through a web browser and via mobile trading apps. Although the possibilities are almost unlimited, NanoTrader is one of the easiest platforms to use. Many users say that the user-friendliness is one of the main reasons they opt for the platform. NanoTrader can handle every trading style from scalping, day trading, swing trading and automated trading. You can simply combine all of the platforms built-in tools into your own trading strategy, without any programming necessary. Of course, you are free to code your own tools if you have the skills to do so.
Some of the key NanoTrader features include the following:
- Great choice of trading strategies
- Practical functionalities
- Popular with traders of all levels
- Free trading tools
- Placing orders quickly with orders via charts, automated orders, bracket orders, trade wizard, etc
- Various chart types and timeframes
- Efficient risk management with 15 stop order types
- Supports automated trading
- Free trading demo account
MetaTrader 4 (MT4 for short) is a popular platform developed by MetaQuotes for forex and CFD traders around the globe. I think it can be an ideal platform for beginners who are looking for quick and easy access to the markets. The platform has lots of tools for conducting market analysis across different chart types and timeframes. You can create and save trading templates to use on the instruments provided by the broker. I like the alert feature as you can be notified when price reaches your target level without needing to gaze at charts all day long. However, my favourite aspect of MT4 is the automated trading capabilities that it has via expert advisors (EAs). You can create your own automated systems or access a selection of free and paid EAs from the platforms marketplace. MT4 is less suitable for discretionary trading as functionalities are limited. The platform is free and can be used on desktop, web and mobile platforms.
Despite the inbuilt strategies, signals, and other cool features of the NanoTrader platforms, I would prefer to stick with MetaTrader. After all, NanoTrader is not available through other brokers and they do charge a monthly fee of €29 for NanoTrader premium. That’s my personal preference and probably due to the fact that I have already spent years trading on MetaTrader and never really felt the need to switch over. I like the fact that most brokers support MetaTrader which means that I do not need to learn a new platform every time I want to test a broker. You could perhaps try all of the brokers platforms on a demo account to see which you consider better for your trading strategies as everyone is different in that respect.
Sierra Chart is a professional desktop trading and charting platform for the financial markets. It supports both live and simulated trading. You can use the platform for trading manually or running automated systems. I like how the platform provides plenty of tools for analysing charts and puts a great emphasis on efficiency and performance when conducting complex analysis. Designed by an experienced development team for efficiency and ease-of-use, it has an uncomplicated interface that has been proven and trusted by traders for more than a decade.
ATAS is a professional trading and analytical platform designed for order flow analysis. It has all you need for fast and convenient market evaluation – Time And Sales, Level II data (Depth of Market or DOM) and HFT algorithms tracking. ATAS platform processes the order flow data and visualizes it in an intuitive form. It features extensive filtering capabilities and flexible setup. The platform’s analytical instruments improve the information value of the market data, enabling better insight into the market trends and, therefore, better trading performance. It performs all the functions required by order-flow and volume traders. You will find a variety of tools and indicators that are exclusively available in ATAS. With this platform, you no longer observe markets from the outside, but from the inside – you see the heart of the markets.
You can trade CFDs and Forex via the TradingView platform, powered by real-time data and market-leading analysis software. TradingView provides traders and investors with charts, tools, and social networking. You can benefit from the brokers high-speed order execution and low spreads in combination with this modern and intuitive platform that is packed with possibilities. There are ten chart types to analyse the market from different perspectives (incl. Renko, Point & Figure and Heikin-Ashi). You get spread charts to monitor price differences between two or more stocks prices. Multiple charts lay-out with up to 8 charts ensure you can track all of your favourite instruments simultaneously. There are more than 50 intelligent drawing tools to analyse trends and find trade opportunities based on your preferred indicators. Another unique feature is that you can set multiple symbols on a single chart to explore correlations between different instruments.
Volfix is a futures trading platform that provides Volume Visualization in Real Time Mode with Dynamic Interactive Depth of Market (DOM). With this platform, you can get a whole new level of comfort, ease of use, and functionality. This could be a good choice if you are using a strategy where you need to place orders accurately and quickly. It is an innovative tool that shows market depth and provides one-click trading. VolFix.Net DOM displays ten price levels each way and allows entry and exit automation directly in the DOM window. The cutting edge interface combines all the latest innovations in the field of sending market orders.
Trade Navigator is one of the easiest ways to algo trade. Using the proprietary TradeSense development tools, you can set up automated trades without programming using any combination of over 100 built-in strategies and custom filters. Trade Navigator also includes an accurate and extensive backtesting software. I think this can be a great solution for those of you who are looking to run atomated trading systems. I can certianl ysee some potential for automated ny scalping systems in Trade Navigator.
There is a vast array of useful trading tools on the broker’s website. They include automated technical analysis, screeners and scanners, SignalRadar, drawing tools, and charts. That’s not to mention that the tools included with the available platforms are probably more than any trader will ever need. There is literally so many things you can do that it may actually be overwhelming for some of you who just want to trade via a user-friendly platform. However, I think that professional and institutional traders will be hard pressed to find a broker with as many tools as WH SelfInvest.
One of the most impressive things I noticed about this broker is that they will code within reason, trading tools and indicators proposed by clients. The proposals are afterwards inserted into the NanoTrader trading platform. All clients can use the tools and indicators for free. You can contact the support desk if you wish to propose a tool or an indicator. This is something that I haven’t seen any other broker offer before. It can cost thousands to get a custom indicator built so if your idea gets picked, that’s certainly a good saving! You can find a collection of custom tools from other users on the brokers website. They also have an online store where you will find free and paid trading tools and strategies.
In the NanoTrader you can find trading signals in the WHS Signals folder. A signal is a combination of criteria which lead to the opening of a position. You can then decide how you manage the open position. A trading strategy contains in addition rules regarding the acceptance or rejection of signals and rules on how an open position is managed. Many of the trading signals are also available as a component of a trading strategy.
- All trading signals are available in the NanoTrader Full trading platform
- Six trading signals are available in the NanoTrader Free platform
- You can set up your own signals. Programming is not required
- All trading signals can be automated
- Several of the signals also serve as components in a trading strategy
In the NanoTrader you can find the trading strategies in the WHS Strategies folder. These strategies are supplied for educational purposes and can be used to help you find entry and exit signals. I would not apply them blindly. Instead, I would try to adapt each strategy to my own market analysis. All trading strategies can be traded manually or semi-automatically. You can set up your own trading strategies without any programming required. New trading strategies are added regularly and if you want to propose a trading strategy feel free to contact them.
Active investors are on the lookout for market indices, forex pairs and stocks on which something is happening. WHS TechScan detects such instruments by daily scans using over 100 technical analysis indicators, statistics and trading strategies. It is a superb tool to identify swing trading an daytrading opportunities. WHS TechScan is free, integrated in the trading platform and easy to use.
WHS TechScan scans every day more than 10 stock markets (Germany, France, US, Belgium, Netherlands, etc) more than 130 forex pairs (EUR/USD, EUR/GBP, etc) and more than 15 market indices (DAX, CAC, Dow, etc). Each new signal is illustrated with a clearly annotated chart showing the signal. All buy and short sell signals are saved for each financial instrument so you can see if there is an increase in signals.
SignalRadar shows live trades executed by various trading strategies. I think this is a good tool for identifying trading signals and looking for areas in which you can improve your strategies. The SignalRadar app is based on the more extensive free SignalRadar, which is part of the NanoTrader trading platform.
The main SignalRadar benefits:
- See which trades are doing well
- See which markets are being traded
- See for every market if strategies are long, short or flat
- Observe professional traders and strategies
- Live trades based on logic, not on feeling
The main SignalRadar functionalities:
- All trades are shown in real-time
- Profit (loss) is shown in real-time
- Every trade has a profit target and stop loss
- A wide selection of strategies covering all markets
A stock screener is an essential tool used by stock traders and investors to sift through thousands of stocks to find those that best meets their criteria. All screeners are free and available in the NanoTrader Full trading platform. Each screener comes in three versions: “Indices, forex and gold”, “European stocks” and “U.S. stocks”. You can make screeners by using the indicators, chart patterns, signals and strategies available in the platform. The concepts used in the screeners are also available as a trading signal or a trading strategy.
In addition to free real-time quotes and free access to Morningstar (value $ 190 per month), clients have free of charge access to these 10 value added services provided by WH SelfInvest.
- TechScan stock selector
- TechScan top pick e-mail
- Analyst reports
- Unlimited access to professional webinars and seminars
- Weekly DAX and Dow market analysis e-mail
- Updates on all instruments during the week
- Monthly update of a stock portfolio based on the most popular analyst picks e-mail
- Weekly stock pick e-mail
- Investui trading signals
- Monthly update of four stock portfolios based on a Nobel Prize winner’s theories
WH SelfInvest provides you with a range of educational resources, such as webinars, seminars, eBooks, videos, newsletters, and more. I appreciate how they run seminars and live webinars that are can be very useful for beginner traders as they enable you to interact with experienced traders and polish up on your trading skills. The brokers news section is also admirable, with a variety of market news that is updated on a regular basis.
WH SelfInvest offers a huge range of more than 100,000 financial instruments from various asset classes, including futures, contract for differences (CFDs), forex, stocks and options. Clients get free real-time quotes. These are provided by Reuters or the exchanges themselves, such as the high quality Deutsche Börse price feed. If you are looking for a broker with a similar array of products, I would suggest Swissquote as a viable alternative.
- CFDs – All major market indices and a wide range of thematic indices.
- CFDs on stocks – Belgium, Denmark, Finland, France, Germany, Ireland, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Hong Kong, Singapore, Canada and the USA.
- CFDs on commodities – Precious metals, oil and gas, interest rates, bonds, agriculture and grains, various.
- Forex – 79 forex pairs (spread-based forex and commission-based forex).
- Futures and options – All the main futures markets (Eurex, CME, CBOT, COMEX, NYMEX, ICE EU and ICE US).
- Cryptos – Trade major cryptocurrencies 24/7 directly against EUR or USD
- ETFs – Choose between more than 20,000 exchange traded funds
- Mutual Funds – Choose between more than 10.000 funds
WH SelfInvest gives you a limited choice of two account types: a spread-based account and a commission-based option. The spread-based account charges a floating spread per trade that starts from around 2 pips. This isn’t the lowest spread you will find but there is no commission fee. Alternatively, the commission-based account give you access to lower spreads, starting from just 1 pip. On this account you will have to pay a set commission of €0.035 per €1,000 traded.
The account type that you opt for is likely to depend on your trading strategy. Overall, I didn’t find there to be much of a difference in terms of the total cost. However, if you are scalping and need the lowest spreads possible, you might want to consider the commission-based account.
There is also a demo account for practice purposes. If you wish to be classified as a professional client, you can complete the professional client form on the brokers website.
The minimum required to open a CFD/Forex account is just €500 for a mini account or €2,500 for a standard account or the equivalent in GBP, USD or CHF. The account is allowed to go below this minimum, when operational. There is no maximum. I think the minimum deposit for the standard is quite high and it may price some of you out of using this broker. If that is the case, Valutrades have a $1 deposit requirement. If you thought that was a lot, the minimum required to open a futures account is €5,000 or the equivalent in GBP, USD or CHF. The account is allowed to go below this minimum when operational. There is no maximum. Accounts with a cash balance of €250,000 or less are not charged a negative interest if at least one order is executed in the last 12 months.
Account opening can be done in three ways: online application, physical mail, and via an appointment at the brokers office. Each requires you to fill out an account application form. The online application is the fastest way to open an account and should take less than 10 minutes to complete. If you wish, a support manager can guide you during the online application process and you can request a call back.
The broker has an excellent customer support team that is polite and prompt in response. They can be reached during working hours via telephone, email and live chat.
Deposit and withdrawal requests are processed using bank wire transfers only. I find this quite restrictive, especially considering how many platforms the broker has available. I would have thought they could implement some additional payment options such as digital wallets. There are many online brokerages with a better range of funding methods including Trading 212. Transfer costs are €5 for amounts < € 30,000 and 0.10% (with a maximum of €50) for amounts > €30,000.
WH SelfInvest is a European brokerage firm that is based out of Luxemburg but has offices in France, Germany, Belgium, Netherlands, and Switzerland. They provide you with a great choice of professional investing platforms which give you access to trade several financial markets. I found the broker to have very competitive trading conditions, including reliable execution speeds, tight spreads and low commission fees. There is a nice selection of educational resources and some additional trading tools to help you find trading opportunities according to your own preferences.
They have been active in the market since 1998, making the company one of the oldest brokers. I would be confident trading with them as they are an established broker that is regulated in multiple jurisdictions and have an excellent customer support team. If you are looking to trade or invest in a professional environment with institutional quality platforms and tools, I think they are certainly worth taking a closer look at. You can even start on a demo account if you don’t want to make the financial commitment without seeing what the broker can do for you.