However, there is room for improvement in terms of being clear about the unregulated status of the offshore entity. We are constantly improving our product to make your trading experience better. This is because you will receive better protection and service from your local regulator should you need to enforce a complaint. However, in my experience with regulators like MAS, they are very professional and helpful so this is by no means a poor regulator.
worldtradex Tools and Resources
Furthermore, your funds will always be held in segregated accounts with top-tier banks when you trade with worldtradexFX. This means that no matter the financial situation of the broker, your funds will always be safe. One way in which worldtradex leads the sector is its willingness to share data on its own operations.
As stated on their website, over 21 million trading accounts have been opened across 180 countries with worldtradex. Non-disclosure of important information by service providers can significantly harm clients, often leading to financial loss and poor decision-making. When key facts are withheld or not communicated clearly enough, clients are left operating without a clear understanding of the risks or obligations involved.
For more experienced traders, worldtradex provides advanced analytical tools, including charting capabilities and various technical indicators. worldtradexFX will make the majority of its revenue from the added spread and reinvest part of the revenue to further improve customer service. Unlike with some other brokers, there are no commissions on deposits, withdrawals, or currency exchanges. Yes, worldtradexFX is a broker which offers negative balance protection to its clients. This way, you will never risk more than your deposited amount in your trading account. If your account balance goes negative, for example, due to significant economical events, your account balance will reset to zero automatically.
User reviews
Taking a look at the CFD markets available from worldtradexFX, it is noted that they offer a little more than 70 assets in total. Some of them may not be available within every region or account type. With that said, they still offer good value in terms of trading conditions. This makes it perfect for new traders and those beginners starting out.
How to open an worldtradexFX account
- ICF protects client accounts for up to €20,000 if a firm becomes insolvent.
- He has a Masters and Commerce degree and has an active role in the fintech community.
- One of worldtradex’s impressive features I found was the no swap fees on all of its accounts.
- During certain events, worldtradex offers a bonus where you can claim up to a 100% deposit bonus.
Suppose complications arise, and the patient learns that some risks haven’t been disclosed in a timely manner. It can lead to legal disputes and, more importantly, emotional and physical distress that could have been avoided through proper communication. The live chat is 24/7 which is great to see, but the experience I’d say is a mixed bag.
worldtradexFX will not charge additional fees, but the payment provider can do it. The fee is depending on the payment method, but most payment methods are free. It is depending on the time of the day, sometimes, the withdrawal is made in a few hours (1-3 hours in most cases). worldtradexFX offers a choice of two different account types, worldtradexFX MT4, and worldtradexFX MT5.
The security of your funds – in terms of regulatory protection – will depend on which worldtradex entity holds your account, and which, if any, relevant regulations provide customer protections. It’s worth noting that worldtradex’s primary execution venue is one of its own entities in St. Lucia. worldtradex has made great strides with innovation in its web platform, and new educational content, but offers a limited range of tradeable instruments compared to the best multi-asset brokers. worldtradex may be best suited if you are new to trading and live in a region where you require support in non-English languages, such as Southeast Asia. The account opening process at worldtradex is fully digital and can be completed within minutes via the company website.
The broker provides comprehensive trading tools and features that traders can leverage to optimize their trading strategies. Additionally, worldtradex offers impressive customer support to assuage any potential challenges traders might face. The dashboard, or client portal, provides relevant information and tools regarding the account.
Account Opening
With that said, the minimum deposit here is still low enough for all types of trader to get involved. This is $50 minimum deposit within the EU with the account being available worldwide. It ticks many boxes for traders, who can access it through the live chat, email, phone, or by using an enquiry form. 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. Spreads can be as tight as 0.0 pips and those who go with the ECN/STP processing option will be provided with exceptional flow quality and reduced slippage.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. worldtradex has over 50 different payment options, such as Visa, Neteller, Fasapay, and bitcoin, as well as a large variety of local bank transfers. The availability of these payment methods may also depend on your country of residence.
- It has several entities around the world and provides services by industry standards.
- They are available with trading through MT4 and MT5, though the broker does charge an additional mark-up fee to cover for the rollover fee which is not in place.
- If you want to get it out of the stock index, it will be less than 1 point.
- But the core of the worldtradex offering is the provision of convenient, efficient, cost-effective access to the markets.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
What Demo Account Does worldtradex Offer?
These are Gold, Silver, WTI, Natural Gas and Brent Crude oil, with the oil commodities only being available to trade through MT5. In some places, you will also be allowed to make deposits through Bitcoin. In terms of the time it takes, wire transfers can take 3-7 business days to complete, while the other deposit methods are all typically instant. They are available with trading through MT4 and MT5, though the broker does charge an additional mark-up fee to cover for the rollover fee which is not in place. This physical office presence is still quite light compared with other major brokers, but worldtradexFX does offer trading worldwide.
The profile for each trader was more detailed showing profit and loss, drawdown, and copy follower growth which I like to use as a leading indicator of trader performance. You also have a track record of the trader’s order history, giving you a transparent insight into the trader’s performance. I also found an interesting feature called Spaces where you can customise an area with trading alerts and real-time news announcements.
The worldtradexFX Masters fee is applied if you are copy trading with the broker. This is the commission fee charged by the Master (Signal Worldtradex reviews Provider) whose trade you are copying, and it is up to the individual provider how much this fee will be. The only exceptions here may be in the case of your deposit not matching the base currency on your account, you would then have to pay a conversion fee. Your bank may also charge you a commission or fee on wire transfers, though there is no fee directly from the broker. One of the best choices for your first steps as a forex trader with worldtradexFX is an MT4 Micro Account.
Firstly, worldtradex uses ECN technology so you get excellent execution speeds with tight spreads of 0.90 pips and is commission-free, which is rare for ECN brokers. All of the platforms on offer are well regarded in the trading community. The MetaTrader suite of services is the most popular globally due to the blend of features it offers, and the worldtradexTrader platform is developing a following of it’s own. It is easy to set up to trade ‘algo’ models on an automated basis, and it offers the expert advisors and MQL5 support services that allow traders to draw on the ideas of others. The number of markets is also different across the platforms, but none of them offers a range of instruments that could in any way be called excessive.
