In line with Anti-Money Laundering rules, worldtradex does not process payments to third-party accounts. All withdrawal requests from a trading account will be funded to a bank account or source in the trader’s name. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Trading and investing in financial instruments comes with a high degree of risk and you can lose money. You should only engage in any such activity only if you are fully aware of the relevant risks.
Best Trading Brokers
- Where many brokers only offer a few accounts, worldtradex have a great range of different trading accounts to cater to the needs of many different styles of traders.
- Some clients may find the online payment processors more convenient and faster.
- worldtradex also offers a Demo Account, and in the past a Cashback Account, which unfortunately is no longer available.
- Depending on the account type, the minimum deposit could vary from $100- $10,000.
worldtradex provides a wide range of deposit and withdrawal methods, including bank Worldtradex scammers wires, credit/debit cards, e-wallets, and local payment solutions. However, certain payment methods may have geographic restrictions, but the worldtradex back office will display only the available options for each trader’s location. worldtradex provides the industry-leading MetaTrader 4 (MT4) platform, favored for its advanced algorithmic trading capabilities and user-friendly interface.
worldtradex Execution Model
Spreads vary from as low as 0.5 to 1.7 for live floating spreads with EUR/USD or 1.6 to 2.8 for fixed spreads, depending on account type. ECN and Zero Spread accounts have no spread and charge a commission based on the number of lots traded instead. worldtradex continues to expand its global reach and offers services in many other countries, including Canada (with specific regulations) and select jurisdictions in the Caribbean. The broker remains committed to providing secure and accessible trading opportunities to clients in regions where forex and CFD trading is permitted.
The broker offers gold and silver CFDs denominated in EUR and USD so that traders whose accounts are also denominated in the same currencies do not have to pay a conversion fee. worldtradex could improve its offering by including vanilla options or Asian stocks. worldtradex provides a variety of accessible and diverse trading accounts, giving clients the flexibility to choose between fixed spreads and floating spreads. However, the broker could enhance its offering by introducing an alternative to the MetaTrader 4 platform.
It is theoretically possible to use the WebTrader on a mobile device, but not recommended. The mobile applications for MT4 are fully featured and highly rated, so there should be no issue. worldtradex also offers a Demo Account, and in the past a Cashback Account, which unfortunately is no longer available. The MetaTrader app stands out for its convenience, making it an essential tool for adjusting trades, especially during periods of heightened volatility. However, I consider it cumbersome and not the best choice for analyzing price action. You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades.
Deposits and Withdrawals
Trading indices allows traders to speculate on the performance of entire sectors or national economies rather than individual stocks. worldtradex provides competitive spreads on indices and supports both long and short positions, giving traders flexibility in various market conditions. worldtradex offers a wide and diverse selection of trading accounts, including commission-free and raw spread accounts. Additionally, the broker provides a Personal Multi-Account Manager (PMAM) platform designed for professional traders and money managers. It also offers a variety of trading accounts, most of which have no minimum deposit requirement, and provides excellent conditions for copy trading.
However, the platform has cumbersome charts and lacks a timeframe lower than 1 minute. It is fully equipped with front-end terminals and back-office reporting functions. Traders enjoy protection against broker defaults of up to GBP 50,000 via the Financial Services Compensation Scheme (FSCS), and provides extra insurance for UK clients of balances up to GBP 1,000,000. The accounts of EU traders are protected up to EUR 20,000 via the Investor Compensation Fund (ICF) of Cyprus.
Compared to other similar brokers, worldtradex’s account opening process is fast, generally hassle-free, and fully digital. We suggest you read worldtradex’s risk disclosure, customer agreement, and terms of business before you start trading. In conclusion, I rate worldtradex to be a reliable broker that caters well to day traders and algorithmic traders.
Broker provides its customers with standard contact options on its website that can be used to make general enquiries and get support on technical issues. These include telephone, live chat and an email contact form with staff available on a 24/5 basis during the trading week. Over the weekend, you can leave a message for when support resumes, as shown below. You can trade forex in lot sizes as small as 0.01, and the broker supports MetaTrader 4 (MT4), which is the most popular platform among retail forex traders.
Which platforms does worldtradex offer?
His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. Clients must contact the broker’s customer support to request further assistance. I have compiled the table below to help you better understand the difference between the trading fees with worldtradex’s No Commission account type and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large. Although worldtradex offers 26 futures contracts, there are no vanilla options, ETFs, or bonds that most swing traders use.
Furthermore, the charitable work they do is very commendable and good for the community. The broker offers industry leading products and services that I think can be a great option for retail and institutional clients alike. I like how they have strict regulation in multiple jurisdictions and are well respected within the industry.
Customer Support
- If you are looking for a reliable trading broker with everything that you need in once place and much more, worldtradex are a top choice.
- Yes, worldtradex offers demo accounts that allow traders to practice trading in a risk-free environment using virtual funds.
- You can also access a network of other traders so you can review their past performance and copy their trades in your own account if you wish.
- Spreads vary from as low as 0.5 to 1.7 for live floating spreads with EUR/USD or 1.6 to 2.8 for fixed spreads, depending on account type.
- The broker also warns on its website that spreads during overnight trading might be wider.
- They take a customer focused approach and are committed to providing the highest standard of services with full transparency to clients.
The presentation and depth of these materials are acceptable but fall short of what is on offer at other large brokers. worldtradex has an excellent reputation and is one of the industry leaders in the world of forex trading. It is one of the sponsors of the 2018 Offshore Racing Congress (ORC) European Championships and will support an worldtradex Racing Yacht.
The broker provides tailored solutions for the Oceania market, including competitive trading conditions and access to the MetaTrader platforms. worldtradex adheres to strict regulatory standards to ensure a safe and transparent trading experience for clients in this region. worldtradex is a globally recognised award-winning CFD broker offering a great range of trading products and services to retail traders and institutional investors. The broker has a good choice of over 300 tradable assets, a variety of account types, spreads from as low as 0.0 pips and excellent support in over 30 languages. worldtradex offers eight distinct account types to cater to various trading styles and preferences, with most requiring a minimum deposit of $0, making them highly accessible. Traders can choose between Live and STP/ECN accounts, both providing access to the industry-leading MetaTrader 4 (MT4) platform.
These allow traders to examine market developments from different angles and exploit the underlying trading opportunities in multiple ways. Some regulators enforce stricter financial standards than others, so traders should understand the safety measures of the entity they choose to open an account with. worldtradex operates through five entities, three of which are regulated by top-tier financial authorities, while the other two are offshore and unregulated. The broker ensures client safety by maintaining segregated accounts for client funds and offering negative balance protection. worldtradex provides free Virtual Private Server (VPS) hosting, helping traders achieve ultra-fast order execution speeds and diminish the risk of negative slippage.
By referring friends or family members to worldtradex, clients can receive bonuses or cash rewards once the referred person opens an account and meets the specified trading requirements. This promotion encourages traders to share the benefits of worldtradex with others while earning extra rewards. worldtradex regularly organizes trading contests and competitions with lucrative prizes, including cash rewards, luxury trips, and high-end gadgets. These contests are open to traders of all experience levels and provide a fun and competitive way to showcase trading skills. Participants can join these events and compete for top spots, earning valuable rewards along the way. One of worldtradex’s standout features is its comprehensive and insightful research and educational content.
Deposits and withdrawals with Skrill cannot exceed $50,000, and withdrawal fees stand at 1 percent (up to $10,000). Neteller has the same withdrawal limit but a fee of 2 percent (up to $30 but a minimum of $1). The trading platforms used by worldtradex include MetaTrader 4, Multi-Account Manager for PC, and WebTrader 4, with the latter two being just variations of MT4.