broker

Windsor Brokers Review 2022

Updated:
4.2
Trust
4.0
Fees
4.3
Platforms and Tools
4.5
Customer Support
4.0
Tradable Instruments
4.6
Account Types and Terms
4.5
Deposit and Withdrawal
3.9
Research
4.0
Education
4.3

Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk, and may not be suitable for all investors, as may result in a loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite and, if necessary, seek advice from an independent financial advisor.

While we adhere to strict editorial integrity, this page may refer to our partners' products. Here's how we make money.Learn how we make money and our review methodology.

Please note: This is a review of a Prime MT4 Account opened with Windsor Brokers International Ltd, one of the several entities operated by Windsor Brokers. We tested the functionality of the broker’s website, its trading conditions, and the performance of the desktop and mobile app versions of the Windsor Brokers MetaTrader 4 (MT4) platform.

Data was collected on the 20th of July.

The Big Picture

Windsor Brokers is an international investment firm with offices in Cyprus, Jordan, Seychelles, Belize, and Kenya. Since its inception in 1988, the company has specialised in providing OTC derivatives trading solutions to its clients.

Where the broker stands out is with regards to its diverse tradable instruments and very competitive trading fees. Windsor Brokers has incorporated the globally renowned MetaTrader 4 platform, allowing traders the flexibility to conduct probing technical analyses and construct complex trades.

Regarding its drawbacks, the company has multiple offshore licences that do not ensure adherence to the strictest financial regulations. The licensing of Windsor Brokers’ European entity by the Cyprus Securities and Exchange Commission (CySEC) is the only exception. However, the broker should be praised for adding an extra layer of protection for its clients through private insurance, shielding them against the company’s credit risk.

Windsor Brokers Key Takeaways for 2022

  • We evaluated Windsor Brokers across 9 categories (Trust and Stability, Fees, Tradable Instruments, Account Types, Deposit and Withdrawal, Research, Customer Support, Education, and Platform and Tools).
  • Windsor Brokers scored high in the Instruments, Fees, Accounts, and Platforms categories. Its trading costs are, on the whole, lower than the industry average, its account types and available instruments are very diverse, while the MT4 platform is sophisticated enough to accommodate probing technical analyses.
  • The broker received an above average score in the Education category. Windsor Brokers’ multilayered educational materials are also varied and very instructive.
  • The broker scored average in the Trust, Deposit and Withdrawal, Research, and Customer Support categories. Windsor Brokers has multiple offshore licences that entail loose regulatory oversight, while its payment methods have high third-party fees. Additionally, some of Windsor Brokers’ research content is not accessible to all of its clients.
  • Novice traders can gain a well-balanced knowledge of the intricacies of trading from Windsor Brokers’ comprehensive educational materials, while advanced traders can take advantage of its competitive fees and the possibility to implement widely divergent trading strategies.

What Sets Windsor Brokers Apart From Other Brokers?

Private insurance protects clients of Windsor Brokers’ overseas entities against the company’s credit risk. While many brokers have compensation schemes – Windsor Brokers’ European entity, for instance, is a member of the Investor Compensation Fund (ICF) – electing to issue private insurance on the broker’s own accord is quite uncommon.

Additional information regarding the insurance and its application is available here.

Windsor Brokers’ private insurance

Who Is Windsor Brokers For?

Windsor Brokers’ different account types and rich collection of supporting materials make its service equally suitable for inexperienced retail traders and high-volume professional traders. The former can benefit from Windsor Brokers’ probing educational materials and a rich assortment of trading instruments to grow their accounts gradually. In contrast, high-volume traders can take advantage of Windsor Brokers’ low spreads on a Zero account.

Windsor Brokers Pros and Cons

Pros Cons
  • Very low trading fees
  • Has private insurance for clients
  • Multiple instruments
  • All clients are covered by private insurance
  • Diverse account types
  • Comprehensive educational content
  • Weak offshore licences
  • High third-party fees for deposits and withdrawals
  • Only one platform type

broker

Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk, and may not be suitable for all investors, as may result in a loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite and, if necessary, seek advice from an independent financial advisor.

About the Author

Plamen Stoyanov
Personal Name: Plamen Stoyanov Author with FX Empire since March 2022 Education and Work Information Education: BA in Economy and International Relations
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
Windsor Brokers Main Features
☑️
Regulations
CySEC (Cyprus), FSC (Belize), FSA(SC) (Seychelles), CMA (Kenya) (Kenya), JSC (Jordan)
💰
Products (CFD)
Currencies, Commodities, Indices, ETFs, Stocks, Bonds, Crypto
💵
Min Deposit
$100
💹
Max Leverage
1:30 (CySEC), 1:500 (FSC), 1:500 (FSA(SC)), 1:400 (CMA (Kenya)), 1:500 (JSC)
🖥
Trading Desk Type
No dealing desk
📊
Trading platforms
MT4
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Check if...
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Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk, and may not be suitable for all investors, as may result in a loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite and, if necessary, seek advice from an independent financial advisor.

Windsor Brokers Full Review

Trust

4.0
How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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Windsor Brokers scored average in the Trust category because most of its offshore licences do not ensure the highest possible protection. On the other hand, the broker has a very transparent and informative website. Windsor Brokers also has private insurance safeguarding its liabilities against its clients, which indicates its high corporate responsibility.

Windsor Brokers Regulations

In our reviews, we examine the licences and regulations of each entity operated by a broker. This allows us to compare each entity’s different levels of protection. We rank licences by various regulatory bodies on a three-tier system, where tier-1 licencing indicates the highest level of regulation.

This is what we found concerning Windsor Brokers’ several entities and their licences and regulations:

  • Windsor Brokers Ltd is authorised by the Cyprus Securities and Exchange Commission (CySEC) under licence number 030/04. CySEC ranks as a tier-1 regulator on our system.
  • Seldon Investment Limited Co. (Jordan) is authorised by the Jordan Securities Commission (JSC) under licence number 1265. The JSC ranks as a tier-3 regulator on our system.
  • Windsor Brokers International Ltd is authorised by the Financial Services Authority (FSA) in Seychelles under licence number SD072. The FSA is a tier-3 regulator.
  • Windsor Brokers (BZ) Limited is authorised by the Financial Services Commission (FSC) in Belize. The FSC is a tier-3 regulator.
  • Windsor Markets (Kenya) Limited is authorised by the Capital Markets Authority (CMA) under licence number 156. The CMA also ranks as a tier-3 regulator.

We have summarised the most essential aspects of Windsor Brokers’ entities in terms of regulation and safety in the table below:

Entity Features Windsor Brokers Ltd Seldon Investment Limited Co. (Jordan) Windsor Brokers International Ltd Windsor Brokers (BZ) Limited Windsor Markets (Kenya) Limited
Country/Region Limassol, Cyprus Amman, Jordan Mahe, Seychelles Belize City, Belize Kenya
Regulation CySEC JSC FSA FSC CMA
Tier Tier-1 Tier-3 Tier-3 Tier-3 Tier-2
Segregated Funds Yes Yes Yes Yes Yes
Negative Balance Protection Yes Yes Yes Yes Yes
Compensation Scheme Yes No Yes* Yes* Yes*
Max. Leverage 1:30 1:500 1:500 1:500 1:500

* The special insurance is subject to specific T&Cs. You can read more about those here.

Why Is It Important to Know Where Your Broker Is Regulated?

When a broker operates multiple entities that different regulators licence, this does not necessarily mean that they all comply with the same regulatory policies, nor that they entail the same level of protection. Given the discrepancies listed in the table above, Windsor Brokers is a good example of why traders need to be aware of the financial regulations the entity they choose to work with is mandated to comply with.

Here is a list of what traders need to be looking for in a trustworthy broker:

  • Segregation of client funds. In order to negate the risk of accounting errors, brokers are required to keep their clients’ funds in separate accounts from their corporate banking accounts.
  • Negative balance protection. The negative balance protection policy ensures traders’ losses cannot exceed their account balances.
  • Compensation scheme. Compensation schemes are put in place to protect traders against the credit risk faced by the broker. In the unlikely event that the company becomes insolvent, a trader would be compensated. Traders with Windsor Brokers Ltd. are protected under the Investor Compensation Fund (ICF). Clients of Windsor Brokers International Ltd, Windsor Brokers (BZ) Limited, and Windsor Markets (Kenya) Limited are privately insured by Windsor Brokers.
  • Maximum leverage. Regulators that operate under strict financial frameworks, such as MiFID II, tend to cap the maximum leverage the brokers they authorise are allowed to provide. The leverage is the biggest determinant of market exposure, which is why it needs to be used with extreme caution. Windsor Brokers’ European entity allows a maximum leverage of 1:30, while the other entities permit a much bigger leverage of 1:500 for retail traders. The risk they face from adverse market fluctuations is thus increased significantly.

Is Windsor Brokers Safe to Trade With?

Windsor Brokers’ several entities entail different levels of protection. The safest one is Windsor Brokers Ltd, which is authorised by a tier-1 regulator (CySEC). Windsor Brokers International Ltd, Windsor Brokers (BZ) Limited, and Windsor Markets (Kenya) Limited – all of which are all authorised by tier-3 regulators – ensure segregation of funds and negative balance protection. However, they rank below the European entity primarily because of their much looser leverage policies. Seldon Investment Limited Co. (Jordan) is the least safe entity of the bunch because no safety information is disclosed in the Trading Documents section of the website.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focused on how long the broker has been in business, the company’s size, and how transparent they are in terms of readily available information.

Having been founded in 1988, Windsor Brokers has become a well-established financial investment firm employing more than 200 persons. And despite some minor issues with legal information’s availability on some of Windsor Brokers’ overseas entities, we found the broker to have a very high overall transparency.

The dedicated ‘About Us’ page represents the company’s goals, visions, and values, which is essential for building solid company-client relations. But even more importantly, all the licences are clearly visible on the website, and traders can check the firm’s legal information easily. Additionally, the broker explains in detail its trading and non-trading costs without hiding any extra fees in small print.

In summary, our findings indicate that Windsor Brokers can be regarded as having a good level of trust and stability due to the following factors:

  • At least one of its entities is authorised by a top-tier regulator.
  • The broker provides private insurance to its clients.
  • Has negative balance protection, segregated client funds, and a compensation scheme.
  • The legal and financial information on the website is clear and concise.

Fees

4.3
How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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Windsor Brokers scored highly in the Fees category because its spreads and swap charges are below the industry average. Commission-free trading applies on a Prime MT4 account, though there are additional non-trading charges, such as maintenance, deposit, and withdrawal fees.

Windsor Brokers’ spreads on instruments from the most popular asset classes are low to medium compared to the broader industry, while the possibility of commission-free trading makes its costs even more competitive. Furthermore, swap-free trading, also known as trading with an Islamic account, is permitted on a Windsor Brokers Prime account.

The broker also charges non-trading fees, such as a maintenance fee on inactive accounts. Deposits and withdrawals may also be liable for extra charges by third parties, depending on the chosen payment method.

Windsor Brokers Trading Fees

Windsor Brokers Spreads

We tested the spreads on a Windsor Brokers MT4 Trading Account during the London open at 8am UK time and just after the U.S. open at 2.45pm UK time. These are the most actively traded times. The test was conducted on the 20th of July 2022.

Instrument Live Spread AM Live Spread PM
EURUSD 0.4 pips 0.3 pips
GBPJPY 1.4 pips 1.4 pips
Gold (XAUUSD) 25 pips 32 pips
Crude Oil 0.04 pips 0.03 pips
Dow Jones 30 3 basis points 3 basis points
Germany 40 3 basis points 2.9 basis points
Apple 0.37 points 0.36 points
Tesla 0.77 points 0.45 points

Windsor Brokers’ spreads on currency pairs and stocks are quite low. This is important for two reasons: firstly, most novice retail traders tend to begin their experiences on the market trading FX CFDs. Secondly, more than half of Windsor Brokers’ tradable instruments are CFD shares. For those two reasons, we found the broker’s spreads to be quite competitive for beginner traders in particular.

Concerning instruments from other asset classes, Windsor Brokers’ spreads on commodities are medium to low and on indices medium to high compared to the broader industry.

Windsor Brokers Swap Rates

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full contract (100,000 units) of the base currency.

Instrument Swap Long Swap Short
EURUSD Charge of $4.99 Zero
GBPJPY Charge of $0.21 Charge of $2.43

A storage fee may also be applied to accounts carrying open positions on FX pairs, spot precious metals, CFD shares, and CFD in Spot Indices, regardless of parallel rollover costs. The storage fee varies depending on the underlying market conditions. You can find additional information here.

Windsor Brokers Commissions

There are no commissions on a Prime MT4 account. There is, however, an $8 round-turn commission on a Zero account. Additional information can be found here.

Windsor Brokers Non-Trading Fees

Windsor Brokers charges dormant accounts a maintenance fee of 20 USD when no trading activity has been registered for at least 6 months. The maintenance fee is charged monthly until activity resumes or the account balance drops to zero. Dormant accounts with no balance are terminated.

Even though the broker does not have any funding fees, third-party charges may apply. Fees on deposits and withdrawals thus depend on the chosen payment method. And while Windsor Brokers’s European entity may cover deposit charges in some cases, the broker’s offshore entities do not provide such coverage.

Are Windsor Brokers’ Fees Competitive?

Windsor Brokers’ fees are quite competitive, especially for retail traders. This is due to a combination of commission-free trading and low spreads on an MT4 Trading account. Swap rates would naturally fluctuate over time because of changing market volatility, but those too were relatively low at the time of our review. And as long as traders remain active on the market, they are unlikely to incur any major non-trading fees.

Platforms and Tools

4.5
How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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Windsor Brokers earned a high mark in the Platforms category. The broker incorporates the globally renowned MetaTrader 4 (MT4) platform, and traders can use its desktop, web trader, and mobile app versions. Even though MT4 could have been made more flexible, the platform is sophisticated enough to accommodate the execution of complex trading strategies.

MT4 incorporates multiple technical indicators, drawing tools, and other important features, all of which are essential for conducting comprehensive technical analyses. Traders can also take advantage of its fast order execution and one-click trading options. Most of the web trader and desktop platforms’ features are also available on the mobile app.

Windsor Brokers allows automated trading and copy trading on its platform, though the company does not offer any technical support for the latter. Beginners wanting to subscribe to more experienced traders’ strategies have to do it at their own discretion.

Windsor Brokers’ Desktop Platform

Windsor Brokers’ desktop platform

General Ease of Use

The design and general layout of MT4 allow traders quick and easy access to the most important trading features a chart artist might need. A watch list and an indicators list are positioned on the left, while charts are to the right. Information relating to the account’s performance, such as balance and margin, is placed at the bottom, whereas the platform’s settings are positioned at the top.

Charts

Understanding price action behavior depends on the chart’s functionality. MT4’s charts illustrate price action clearly, for the most part. However, scaling the chart up or down is more cumbersome than on other platforms.

Here is a list of the most important features of the chart:

  • Trading indicators. Windsor Brokers’ MT4 platform has a wide range of different indicators. There are 30 oscillators, trend-based and range-based indicators, that can be used in various market environments. This diversity affords traders the freedom to examine different aspects of the price action from multiple angles.
  • Drawing tools. There are 24 drawing tools, such as trend lines, channels, and Fibonacci retracement levels. Those can be used to determine crucial support and resistance levels, as well as potential breakout or breakdown points.
  • Timeframes. The MT4 has 9 different timeframes, which is adequate for day trading and position trading. However, intraday traders may find the lack of timeframes lower than 1-minute problematic since those are used in more sophisticated strategies, such as scalping.
  • Chart types. Traders can choose how to represent price action from 3 alternatives – as a line, using bars, or candlesticks. Despite lacking variety, the MT4 platform incorporates the most popular chart types.

Orders

The MT4 platform incorporates some of the industry’s most popular order types:

  • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
  • Limit orders. They are placed at a price level different from the current spot price. Limit orders guarantee exact price execution, though there is no guarantee of volume filling (if the price action does not reach the predetermined execution price). In that regard, limit orders are the opposite of market orders.
  • Stop orders. Stop orders are usually used in support of a primary position. For instance, stop-loss orders are placed at a distance from the initial entry of a primary position in order to cap the potential loss that would be incurred if the price action goes against the primary position. Once the price action reaches a stop order’s execution price level, it transforms into a market order and then gets filled at the best possible price.
  • Expiry orders. Traders can use expiry orders to set a date on which the underlying trade is to be closed automatically. They are typically used by day traders and position traders who want to have an active position for longer than a single day but not indefinitely. One of the perks of expiry orders is that they can be used to cap the swap charges that a position might incur over time.

Windsor Brokers’ Mobile App

The main purpose of any mobile app is to keep traders connected to the market even when on the go so that they can monitor it and make urgent adjustments to their open positions if necessary. For instance, a trader might use the app to close a position with a running loss.

For the most part, Windsor Brokers’ MT4 app retains the same functionality level as the desktop and web trader versions. However, charts are harder to navigate on smartphones owing to their lower resolution.

General Ease of Use

The app has several different sections. The first is a watch list of a trader’s preferred instruments, affording a quick glance over the current bid and ask prices of instruments and the corresponding spreads. There is also the charts section where traders can analyse the latest price action and the account section where information pertaining to the performance of the account can be accessed.

The watch list of available instruments (on the left), the chart (centre), and the order execution section (on the right).

Charts

The following list includes the most important chart features that are also available on the desktop and web trader versions of the platform:

  • Indicators. The app has 30 different indicators, such as oscillators, volume-based and trend-based indicators. The problem is that charts can easily be crowded with indicators when viewed on low-resolution devices. That is why the mobile app is unsuitable for conducting complex technical analyses.
  • Drawing tools. Windsor Brokers’ mobile app incorporates 24 different drawing tools. The above-mentioned problem also affects this variety of trend lines, channels, wedges, and Fibonacci retracement levels.
  • Timeframes. The MT4 app has 9 different timeframes, ranging from 1-minute to 1-month.
  • Chart types. Price action can be represented as a line, bars, or candlesticks. Those are the most popular chart types amongst retail traders.

Orders

Windsor Brokers’ mobile app also incorporates some of the most widely used order types:

  • Market orders. Market orders are used for immediate entry at the best possible price. They guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
  • Limit orders. They are placed at a price level different from the underlying spot price. Limit orders guarantee exact price execution, though there is no guarantee of volume filling.
  • Stop orders. Stop orders are usually used in support of a primary position. For instance, stop-loss orders are placed at a distance from the initial entry of a primary position in order to cap the potential loss that would be incurred if the price action goes against the primary position. Once the price action reaches a stop order’s execution price level, it transforms into a market order and then gets filled at the best possible price.
  • Expiry orders. Traders can use expiry orders to set a date on which the underlying trade is to be closed automatically. They are typically used by day traders and position traders who want to have an active position for longer than a single day but not indefinitely.

Tradable Instruments

4.6
How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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Windsor Brokers scored very high in the Instruments category. There is a wide range of FX pairs, commodities, indices, shares, cryptocurrencies, ETFs, and treasuries, that meet or exceed the industry average. All instruments can be traded as CFDs, affording traders exposure to different markets with varying levels of associated risk.

With a net total of 209 available instruments from different asset classes, traders can choose between high-yield/high-risk assets and lower-yield/lower-risk securities. This variety affords them the flexibility to construct complex positions with different overall market exposure. In other words, Windsor Brokers’ assortment of trading instruments is ample enough to allow different types of traders to effectively manage the underlying risk they are willing to take with each position they execute.

What Are CFDs?

Contracts for difference (CFDs) are derivatives used to speculate on the price of the underlying product without physical delivery. For example, a long position on gold would generate a profit as the price rises or incur a loss as it falls. This is achieved without having to purchase actual bars of gold. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

What Can You Trade With Windsor Brokers?

Here is a breakdown of Windsor Brokers’ tradable instruments by asset class:

  • 44 Currency Pairs
    • Majors, Minors, and Exotics
  • 20 Commodities
    • Metals and Energy
  • 105 Stocks
    • Tech, Financial, and Retail
  • 19 Indices
    • U.S. and Europe
  • 6 ETFs
    • U.S.
  • 5 Cryptocurrencies
    • Majors and Minors
  • 4 Treasuries
  • U.S. and German

The number of Windsor Brokers’ FX pairs and shares is average compared to the broader industry, while the broker’s available commodities and indices exceed it. The inclusion of high-risk cryptocurrencies, lower-risk government bonds, and complex ETFs further bolsters this diversity. It allows for the implementation of trading strategies with varying levels of sophistication.

Forex Commodities
EURUSD | GBPUSD | EURCAD | USDJPY Light crude oil | Brent oil | Gold
Stocks Indices
Amazon | Microsoft | Apple | Tesla | Intel iShares Russell 2000 ETF | Energy Sextor SPDR Fund | Financial Sector SPDR Fund
ETFs Cryptocurrencies
Financial Sector SPDR Fund | Energy Sextor SPDR Fund | Vanguard Dev Mkt ETF Bitcoin | Ethereum | Litecoin
Treasuries
German Bund Futures | 2 Yr U.S. Treasury Note | 5 Yr U.S. Treasury Note

Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk, and may not be suitable for all investors, as may result in a loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite and, if necessary, seek advice from an independent financial advisor.

Customer Support

4.0
How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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Windsor Brokers scored average in the Customer Support category. We found the usefulness of the support team to vary depending on the abilities of the responding agent. Multilingual support is available 24/5 via phone, email, and live chat.

Windsor Brokers Customer Support Test

When we test a broker’s customer support team, we evaluate the agents’ knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

We conducted our test on the 21st of June at 3pm via the live chat option. Before being connected to an agent, personal information such as names, email, language, and inquiry type has to be specified.

The response time took longer than three minutes, and the agent’s answers were not particularly thorough. When asked whether there are any commissions on a Prime MT4 account, he copy-pasted information already available on the website without elaborating. Even still, the answers were satisfactory, and the fact that support is available in 12 different languages cemented the above-average mark for the broker in this category.

Our conversation with Windsor Brokers’ customer support team

Deposit and Withdrawal

3.9
How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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Windsor Brokers scored average in the Deposit and Withdrawal category. The broker does not charge anything for deposits or withdrawals, though third-party fees may apply. Multiple payment methods are available, most of which take up to 24 hours to process.

Windsor Brokers Deposit Methods

Method Currency Max. Amount Processing Time Fees
Visa/Debit Card USD 25,000 Same Day 0%
Wire Transfer USD, EUR, KWD NA Varies Vary
Neteller USD, GBP, EUR, INR None Same Day Vary
Skrill USD, GBP, EUR, COP, INR None Same Day 0%
WebMoney USD None Same Day 0.8%

Windsor Brokers Withdrawal Methods

Method Currency Max. Amount Processing Time Fees
Visa/Debit Card USD, EUR, GBP None Same Day 3 (USD, GBP, EUR)
Wire Transfer USD, EUR, KWD NA 3-5 business days Varies
Neteller USD, GBP, EUR, INR None Same Day 3 (USD, GBP, EUR)
Skrill USD, GBP, EUR, INR, COP None Same Day 1% – min. 3 (USD, EUR, GBP)
WebMoney USD None Same Day 0.8%

Traders can use credit and debit cards, bank wires, and several e-wallets for deposits and withdrawals. Most transactions are finalised within the same day, except for withdrawals done via bank wire which may take up to five business days to complete. The broker does not charge anything for deposits and withdrawals, though third-party fees may apply. Windsor Brokers does not compensate its clients for incurred charges by the payment processors.

Account Types and Terms

4.5
How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

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Windsor Brokers scored high in the Account Types category. The broker’s Seychelles entity has three account types – Prime, Zero, and VIP Zero – with different underlying conditions. The minimum deposit requirement on a standard Prime account is reasonable, with swap-free trading also being permitted on it.

As regards the Prime MT4 account, there is a $100 minimum deposit requirement, making it the most accessible account type currently available with Windsor Brokers. There are 3 different base currency possibilities – EUR, USD, and GBP – that can be selected from the User Portal. Swap-free trading is also available via Windsor Brokers’ Islamic accounts.

The Prime MT4 account is designed to cater to the basic needs of most retail traders, while high-volume traders may find the Zero account’s lower spreads more attractive. Professional traders, in turn, may negotiate even more competitive conditions with a VIP Zero account.

First login to the User Portal on windsorbrokers.eu

Why is Choosing the Right Account Type Important?

There are many different paths traders may take to become consistently successful on the market. They can adopt various strategies, such as scalping, hedging, or day trading, but what also matters are the tools they are given. That is why brokers usually offer several retail account types to satisfy the particular needs of traders with different styles.

Fundamentally, traders need to choose an account type that matches their goals and means in the most efficient way.

What Account Types Does Windsor Brokers Offer?

Account Prime MT4 Zero
Min. Deposit $100 $2500
Spreads From 1.0 pips on Majors From 0 pips on Majors
Commission No $8 per round turn
Max. Leverage 1:500 1:500
Islamic Account Yes No

Choosing between the two account types, excluding the VIP Zero, which has negotiable conditions, boils down to personal preference. A Prime account has higher spreads but no commissions, whereas the Zero account has lower spreads and an $8 round-turn commission. The former is more suitable for low-frequency trading, while the latter entails more favourable conditions for high-volume traders.

It should also be mentioned that under FSA regulation, Windsor Brokers’ Seychelles entity can offer a maximum leverage of 1:500. In comparison, under CySEC regulation, brokers are allowed to provide retail traders a maximum leverage of 1:30. This massive discrepancy represents a double-edged sword, as high leverage makes it more difficult to control the development of a trade.

What is CFD Leverage?

The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger-sized positions. The leverage multiplies the profits a trader generates from winning positions and losses incurred from failed trades.

Windsor Brokers Account Opening Process

We have summed up the process of opening a Prime MT4 account with Windsor Brokers International Ltd:

  • Step 1 – First, you need to sign up to Windsor Brokers’ user portal. When on the main page of the website, click the ‘Open Account’ button that can be found in the top-right corner of the page. You will be asked to provide personal info, including your name, phone, and email address.
  • Step 2 – You need to verify your email address by clicking on the link that has been sent to your mail. This will allow you to log in to the Customer Portal where you can continue with the registration process.
  • Step 3 – You will have to provide additional personal information, such as your address, passport number, and citizenship. Afterwards, you will be asked for your income info, trading experience, and expectations before signing a Risk Declaration Agreement. Windsor Brokers should be praised for highlighting the risks of trading during registration.
  • Step 4 – Finally, you will have to provide your Tax ID and upload photos (front and back) of your National ID/Passport/Driver’s Licence in order to verify your account.
Windsor Brokers’ Trading Experience questionnaire during registration

Why is a Demo Account Important?

Demo accounts allow traders to test a broker’s service in a risk-free environment where they cannot lose any real funds. Traders can get a sense of key features, such as spreads, speed of order execution, the usability of the platform, and more.

Traders can also use the simulated environment of a demo account to test and update their strategies’ parameters and adapt them to the ever-changing market conditions.

Windsor Brokers Supported Countries

Windsor Brokers’ European entity does not accept clients from the U.S., Japan, and Belgium. The services of its overseas entities are also not intended for U.S. citizens.

Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk, and may not be suitable for all investors, as may result in a loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite and, if necessary, seek advice from an independent financial advisor.

Research

4.0
How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

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Windsor Brokers scored average in the Research category. The news section provides excellent trading-oriented market updates that highlight current trading opportunities. The broker also provides comprehensive analyses and other supporting content.

Most of Windsor Brokers’ research content can be found in the blog section of the website. This is where you can read articles covering a wide range of topics with a broad scope or access the news section. Windsor Brokers’ market breakdowns are more trading-oriented, meaning that they elucidate the likely impact of an economic development on the price action of a given trading instrument. Windsor Brokers also provides trading ideas with a sharp focus on the technical aspect.

The multilayered research content of Windsor Brokers is suitable for beginners and experienced traders alike, however, the broker did not receive a higher mark because it does not balance its in-house content with third-party tools. Also, most of its video materials, available on Windsor Brokers’ Youtube channel, are in Arabic. Traders who do not speak the language thus cannot take advantage of them.

A trading idea by Windsor Brokers

Research Tools

Here is a detailed rundown of Windsor Brokers’ different types of research content:

  • Market news. Windsor brokers’ market breakdowns cover important economic, financial, and political developments. They are the most balanced tool of the bunch because they contain a fundamental and a technical section, thus providing traders with a well-rounded overview of currently unfolding trading opportunities.
  • Analyses. The analyses’ focus is almost entirely on the fundamental side of the market. They elucidate recent economic releases and what they mean for the performance of the economy as a whole. The analyses, therefore, provide traders with a broad overview of significant market trends.
  • Trading ideas. The trading ideas are almost exclusively focused on the technical side of the market. They examine the recent price action of a given instrument, the main support and resistance levels, pivot points, moving averages, and other technical indicators. Traders can use them to discern where buying and selling pressures are likely to surge.
  • Video materials. The video materials are available on the broker’s Youtube channel, however, they are currently available only in Arabic.
A market analysis by Windsor Brokers

Education

4.3
How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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Windsor Brokers scored highly in the Education category. There are over a hundred educational videos on the basics of trading, and they are quite easy to grasp. And while there are no written articles on the website, Windsor Brokers has a detailed educational course available on the client portal. Additionally, the highly informative webinars provide a multilayered overview of essential trading aspects, suitable for both beginners and advanced traders.

There is a wide selection of educational videos on Windsor Brokers’ website, examining different trading topics. The vast majority of these underscore the intricacies of technical analysis, such as reading price action, the functioning of some of the more popular trading indicators, and others. Windsor Brokers’ comprehensive educational course has a more systematic approach to studying the basics of trading.

What we found particularly useful are Windsor Brokers’ multifaceted webinars which delve deep into the nature of technical analysis. Attention is given to essential trading topics, such as risk management and trading psychology. Windsor Brokers’ well-balanced educational materials are thus suitable for both beginners and advanced traders.

Windsor Brokers’ educational course

The Bottom Line

Windsor Brokers is a derivatives broker offering CFD trading to retail traders in Europe and elsewhere. The company has operated for more than three decades, proving its stability. It has very competitive fees and well-balanced trading accounts, though its offshore licences are rather weak.

The biggest advantage of Windsor Brokers’ Prime MT4 account is the combination of commission-free trading with spreads lower than the industry average. The minimum deposit requirement is $100, and swap-free trading is allowed. Automated trading and copy trading, scalping, and hedging are also permitted.

The broker also has a rich assortment of instruments that can be traded on the highly practical MetaTrader 4 platform. This makes Windsor Brokers’ trading conditions very accessible. However, the lack of other trading platforms can be considered a minor disadvantage, as it limits traders to MT4.

While the broker’s European entity – Windsor Brokers Ltd – is authorised by a top-tier regulator ensuring the highest level of protection, Seldon Investment Limited Co. (Jordan), Windsor Brokers International Ltd, Windsor Brokers (BZ) Limited, and Windsor Markets (Kenya) Limited are all licenced by tier-3 regulators. Nevertheless, clients of the overseas entities are protected by a private insurance.

Inexperienced traders can learn a great deal about the intricacies of trading from Windsor Brokers’ comprehensive educational materials and probing research content, while seasoned traders are free to use a wide range of trading strategies at competitive costs.

FAQ

Where is Windsor Brokers based?
Windsor Brokers is headquartered in Cyprus, with offices in Belize, Jordan, Seychelles, and Kenya.

Is Windsor Brokers safe?
Windsor Brokers’ European entity – Windsor Brokers Ltd – is quite safe because it is authorsied by a top-tier regulator (CySEC). Its overseas entities, however, are all authorsied by tier-3 regulators.

How does Windsor Brokers make money?
Via the spreads and commissions it charges.

Is Windsor Brokers good for beginners?
Yes. It has excellent educational materials, diverse account types, and multiple trading instruments.

How do I deposit into a Windsor Brokers account?
Traders can use credit/debit cards, wire transfers, or an e-wallet to deposit into their accounts.

What is the minimum deposit for Windsor Brokers?
The minimum is $100 on a Prime MT4 account.

How do I withdraw money from Windsor Brokers?
Withdrawals can be processed using a credit or debit card, an e-wallet, or via wire transfer.

How long does it take to withdraw money from a Windsor Brokers account?
Usually, transactions are processed within the same day

What is Windsor Brokers’ maximum leverage?
The maximum leverage is 1:500 with either of its overseas entities.

How do I open an account with Windsor Brokers?
By clicking the ‘Open Account’ button that can be found on the top-right corner of the main page and following the instructions.

What platforms does Windsor Brokers offer?
Windsor Brokers offers the web trader, desktop, and mobile app versions of MetaTrader 4.

Does Windsor Brokers offer a demo account?
Yes.

broker

Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk, and may not be suitable for all investors, as may result in a loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite and, if necessary, seek advice from an independent financial advisor.

See Windsor Brokers Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Cyprus
Foundation Year
1988
Regulations
CySEC (Cyprus), FSC (Belize), FSA(SC) (Seychelles), CMA (Kenya) (Kenya), JSC (Jordan)
Publicly Traded
No
Number Of Employees
200
Trading Desk Type
No dealing desk
Trading platforms
MT4
Restricted Countries
United States, Belize
Min Deposit
$100
Max Leverage
1:30 (CySEC), 1:500 (FSC), 1:500 (FSA(SC)), 1:400 (CMA (Kenya)), 1:500 (JSC)
Deposit Options
Wire Transfer, Credit Card, Skrill, Neteller, Webmoney, Debit Card
Withdrawal Options
Wire Transfer, Credit Card, Skrill, Neteller, Webmoney, Debit Card
Time to Open an Account
11
Cryptocurrencies
Bitcoin, Litecoin, Ethereum
Products (CFD)
Currencies, Commodities, Indices, ETFs, Stocks, Bonds, Crypto
Demo Account
Yes
Islamic Account
Yes
Segregated Account
Yes
Managed Account
No
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