They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR). It’s important to note that minimum deposits and trading costs will also depend on which worldtradex entity you choose for establishing your trading account. Nothing on this site constitutes advice or a recommendation – you use the site and its contents at your own risk. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
worldtradex Web Platform
One of the unique features of worldtradexFX is that all three accounts, including the ECN account, charge no commissions to traders and fees include only spreads. Forex pairs, metals, indices, energies and cryptos are all available, but traders looking for single stock names will be disappointed. With less than 100 instruments on offer, there is no space for the more complex instruments such as options found in the quieter corners of the financial markets. THerefore, is slightly hard to evaluate worldtradexFX since International codnitions are overall good, and EU are limited compared to industry. ALso, the points worldtradex does not win include instrument selection, lack of commission based accounts and more of the basic choice of platforms, buut spreads and costs at worldtradex are considered good.
worldtradex offers 5 crypto markets like bitcoin, ethereum and litecoin — this is a limited range. On the upside, those markets that are available are traded using the MetaTrader platforms, so at least the quality of service is guaranteed to be high. It offers the pricing and execution experience of a no-frills broker but complements this with a range of additional services such as top-quality learning resources and copy trading options. Its worldtradexFX.eu arm is regulated by CySec (Cyprus Securities and Exchange Commission) and has offices worldwide.
According to the broker’s website, clients have negative balance protection, and client funds are segregated from the company’s operating funds. According to our research, worldtradexFX has earned a reputation as a reliable participant in the forex brokerage industry. Numerous traders have praised worldtradexFX’s commitment to providing an efficient trading environment. The virtual private server (VPS) is meticulously configured to support MetaTrader 4 (MT4), one of the most reputable trading platforms in the forex community. The worldtradexFX ecosystem includes the specialized CopyTrade app and mobile versions of MT4 and MT5. This app goes beyond traditional social trading by utilizing an AI-based recommendation system that matches traders with Masters based on their trading style and risk profile.
The app interface is very user friendly making it easy to find signal providers to follow based on your customised filters. There are master accounts for traders who want to offer their strategies as signals or for followers who wish to copy signals. This can be a good solution for those of you who don’t have the time or knowledge to trade manually.
How to open an account with worldtradexFX?
Between 74-89% of retail investor accounts lose money when trading CFDs. The proprietary cTrader app is easy to use, robust and well set out to assist mobile trade execution. Whilst it does allow users to keep on top of administrative tasks such as withdrawing and depositing funds it has the feeling of something that in essence was designed to help traders trade. Mobile trading is one of worldtradexFX’s strong suits; all the apps are available for Android and Apple devices and through each provider’s app store.
- Luckily, worldtradexFX offers a decent set of deposit and withdrawal options.
- The broker caters to traders of all experience levels, offering educational resources, demo accounts, and low-deposit entry points, making it particularly suitable for beginners.
- worldtradexFX offers a variety of deposit and withdrawal methods to accommodate traders worldwide, ensuring transactions are convenient, fast, and cost-effective.
- In my view, worldtradex’s tight spreads, extensive research and educational materials, and diverse payment options truly reflect its innovative approach and dedication to meeting client needs.
worldtradexFX Response Time
It allows you to trade without any additional software, only an internet connection is required. The Web Platform allows users to trade directly from any browser and operating system. In the hands-on testing process, I used MetaTrader 5 for desktops, which includes advanced functions such as copy trading and automated trading.
To participate, traders must create an Affiliate Account and use the unique referral link provided to acquire clients. Clients who sign up using the affiliate’s referral link earn commissions based on their trading volume. Emirati traders can avail themselves of the “50% Deposit Bonus” offered by worldtradexFX, which provides a bonus of 50% of their deposits. This added value may be utilized for trading purposes, allowing traders to fortify their positions and enhance strategies accordingly. Upon fulfilling specific volume requisites, the bonus funds become withdrawable, thereby bolstering overall trading resources significantly. On forex, precious metals and indices, there are also no commissions.
However, when compared to research leaders IG, Saxo, and CMC Markets, worldtradex has room to enhance its research offering. For instance, I found that the content on the worldtradex Blog is not updated daily across all categories. worldtradex has struggled with pricing in the past, but has vastly improved in this category and is now gaining on the lowest-cost MetaTrader brokers. In addition, worldtradex boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders.
This initiative allows traders to earn commissions from direct client referrals and from the profits made by the Introduced Brokers (IBs) they introduce to the network. A demo trading competition offered by worldtradexFX presents Emirati traders with a secure place to hone their trading strategies and techniques without financial risk. This opportunity enables participants to build expertise while competing in the contest. With its user-friendly platform, competitive spreads, and a range of educational resources, it caters to both beginners and experienced traders. The worldtradexFX Copy Trading feature simplifies the journey for those looking to follow in the footsteps of successful traders. The CySEC requires brokers to keep client funds securely segregated, maintain sufficient capital, submit regular financial reporting, process withdrawals timely, and follow ethical trading practices.
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. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Whilst we try to keep information accurate and up to date, things can change without notice and therefore you should do your own research.
The CopyTrading app includes tools that allow traders to compare performance metrics among different traders to help them make informed decisions. The service is designed to be user-friendly, meeting the needs of both novice and experienced traders. It allows traders to earn consistent profits by replicating the most profitable strategies available. worldtradexFX provides a solid copy trading service that promotes a social trading environment. When it comes to account types and minimum deposits, worldtradexFX wins again in my opinion.
Exchange Rate Not Fair
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- However, both of the platforms come with MQL and cAlgo programming languages respectively.
- As for the international entity it also includes Credit Cards, e-wallets and other methods which you may check with customer service before any transfer is done.
- The broker also provides negative balance protection, therefore shielding customers from losing more than their account balance in a declining market.
- It also bucks the industry trend by not charging swaps or inactivity fees.
worldtradexFX provides a specialized VPS (Virtual Private Server) service for UAE forex traders. This value-added feature enables traders to run their automated trading strategies 24 hours a day, seven days a week, without relying on the availability of their devices. Spreads provided by worldtradexFX vary based on the commissions charged by brokers and the market conditions prevailing during trading. The demo account comes with generous virtual capital and is an invaluable tool for novice and experienced traders seeking mastery of advanced techniques relevant to the industry. In addition to the Affiliate Program, worldtradexFX offers a Master Trader IB program for traders with a large network.
I would always prefer to trade with a regulated broker as it gives me the peace of mind that they will operate in an honest manner and can be trusted with my funds. It is important to remember that not all regulators are created equally. The products, features and protection can all vary depending on the entity that you decide to open a trading account with. worldtradexFX aim to minimise trading costs with 97.5% of orders executed without slippage through the STP (Straight Through Processing) and ECN (Electronic Communications Network) models implemented. What this means is that you can get your trades placed on the markets at the best available prices at all times. It also means that they do not use a dealing desk which can eliminate any conflict of interest between you and the broker.
Added to that the fact they do only offer a limited range of base currencies and not many deposit or withdrawal methods and you can see the limitations of this otherwise popular broker choice. In this worldtradexFX review, you will find everything you need to know on the key areas of the broker like spreads, account types, and security. Founded in 2011, worldtradex (formerly worldtradexFX) is part of a group of global entities, which include worldtradex Markets LTD (based in the island of Mwali) and worldtradex Markets Cyprus Ltd (based in Cyprus). worldtradex also provides financial services through its intermediary, Orinoco Capital (based in South Africa).
It also facilitates copy trading services and offers extensive educational materials. Additionally, the broker provides promotions and bonus programs, along with 24/7 customer support, aiming to enhance the overall user experience and sustain its global presence. Founded in 2011, worldtradexFX provide a fantastic selection of use-friendly yet powerful platforms for trading forex and CFD instruments with very competitive costs. You can choose from a decent variety of versatile account types, each designed specifically for different types of trader. I like how they operate as an ECN broker as this means they can deliver superior trading conditions which can be important especially for those who are day trading and using scalping strategies. The broker has some useful trading tools, educational resources and a prompt customer support team on hand to assist you as and when needed.
Positions held overnight are not subject to fees, whether positive or negative, which is a distinctive aspect of worldtradex. While you can deposit funds in various currencies, these will be converted to USD at the exchange rate set by the payment system you use. When it comes to education, worldtradexFX realizes the importance of your continued development and progress in the Worldtradex scam sector. They particularly cater very well for the new traders with an excellent basic training in forex including topics like how to get started with the broker, ECN trading, and technical analysis.
