Their extensive educational resources include articles, video courses, and webinars. Beginners will appreciate the platform’s demo accounts, ability to trade in micro-lots, and robust educational tools. WorldtradexFX is an international broker that provides a variety of trading options for both novice and experienced Forex traders. WorldtradexFX has integrated platforms such as MetaTrader, which provides a no-frills, low-cost trading experience, focusing on transparency and favorable trading conditions.
In my case it was the MetaTrader 5 platform, however, I found that once your account is open you can select different platforms from within the dashboard. It is regulated by the FSC in Mauritius, the Mwali International Services Authority (MISA), and CySEC for European traders. The broker has also been operating for 12 years, which is a strong signal of safety in my book. I think having Worldtradex Copy is a good alternative for beginners or those who don’t want to invest their time in learning how to trade. At least this way, you can copy an experienced trader and benefit from leveraged products such as forex, crypto or commodities like gold.
Are there any commissions or fees for trading with WorldtradexFX?
With STP execution on the WorldtradexFX platform, traders can anticipate tighter spreads and greater transparency when it comes to trade pricing. It’s important to note that WorldtradexFX requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps WorldtradexFX maintain a trustworthy financial environment for its 7,500,000 users. Detailed information on the WorldtradexFX trading platforms is available on their website. You should take the security of your personal information seriously and check SSL encryption is enabled on the WorldtradexFX trading platform to protect you on PC and mobile WorldtradexFX platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using WorldtradexFX web trading platforms.
Regulation is one of the most important factors to consider when looking at forex brokers. A highly regulated broker will offer you more protection and safeguard you from fraudulent behaviour, or in the case of insolvency. All content on comparebrokers.org is intended for educational purposes only and should never be considered financial advice. We do not recommend or advise that investors buy or sell through any financial instrument like commodities, securities or stocks. With a digital WorldtradexFXdemo account, you can experiment at all, to whatever length you desire. You might even open positions, test different trading strategies, and much more.
Amongst the new features and platform improvements, you can still automate your trades with MetaTrader 5 and Expert Advisors. If you are interested in automating share CFDs, MT5 is the only platform on Worldtradex to provide this. Another decent addition I found on MT5 is the native economic calendar which shows the times of upcoming economic announcements that can impact your trades. I like that it updates in real-time and displays on your charts which I found useful to avoid opening trades during high-impact announcements like US GDP or Non-farm Payrolls. The platform Worldtradex also has 38+ indicators featuring Ichimoku and RSI, while increasing the number of timeframes to 21 for better customisation.
Finally, Worldtradex offers free educational resources such as articles and video tutorials. For more experienced traders, Worldtradex provides advanced analytical tools, including charting capabilities and various technical indicators. WorldtradexFX has introduced a unique “Status Program” exclusively for Emirati traders in recognition of their loyalty and trading activity. The program offers an opportunity to earn reward points that allow upgrading account status and unlocking exclusive benefits. Many aspects are there to be considered before choosing a forex broker to trade with, and trading platforms are definitely one of those aspects.
Bonus and promotions
Crypto is the slowest to deposit with 3-30 minutes which is still extremely fast in my books as some brokers https://worldtradex.club/ can take 24 hours to credit your account. I’d like to have seen an option for bank transfers as I feel most secure about this process. However, Worldtradex has e-wallet options through Neteller and Skrill were also a positive as they also provide instant funding like the Mastercard option. The FSC is deemed “offshore” as they are an authority that accepts clients from multiple countries like Malaysia, Singapore, or Australia without being directly regulated by the country’s financial authority.
There are also daily and weekly forecasts that cover the financial markets in great detail. These market insights can help identify trading opportunities and assist with your market analysis. Upgrading to a live account requires a bit more leg-work but is by no means arduous. Payment options include VISA, AWEpay, bitcoin, FasaPay, local bank deposits, local bank transfers, Neteller, Paytm, Skrill, UnionPay. NBP — the Worldtradex management/trade order system ensures that the client cannot lose more than the initial deposit in their account.
Low Spread Forex Brokers 2024
- Before risking your money, why not try WorldtradexFX’s platform risk-free in a similar, virtual trading environment by signing up for a demo account.
- Our broker reviews are reader supported and we may receive payment when you click on a partner site.
- The available methods vary depending on the client’s residence and may include local bank transfers.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Worldtradex is a reliable broker with the TU Overall Score of 7.87 out of 10. Between 74-89% of retail investor accounts lose money when trading CFDs.
- Although the response is instant, the broker lacks a personal touch in customer support, you can opt for SmartSTP broker to get better and personalized customer support.
- Worldtradex holds just one Tier-1 license and one Tier-2 license, resulting in a grade of « Average Risk » within the ForexBrokers.com Trust Score rating system.
- Any remaining balance will typically be returned to you using the available withdrawal methods.
- WorldtradexFX partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds.
Assets
Most major forex pairs have spreads close to zero, particularly on the ECN account. Master traders can create multiple accounts for different strategies. WorldtradexFX analyzes master traders’ investment history in addition to other key statistics to help ensure the best experience for any copiers. When looking at equities, only indices are offered with no option of single stocks, and only Gold and Silver are available in commodities, on a micro account. The firm has expanded its reach successfully with its combination of low fees, responsive customer support, and advanced technology. Today, the firm serves customers across 100 countries, and has opened up around 300,000 accounts with an impressive daily volume of $4bn.
To keep your prize lots active, you must trade at least once every 30 days. Gifts are limited and available on a first-come, first-served basis. However, Worldtradex faces certain drawbacks including limited passive income options and frequent changes in payment methods. Worldtradex is not ideal for those seeking ETFs or comprehensive investment solutions. Overall, Worldtradex’s offerings cater well to both novice and experienced Forex traders who can tolerate its limitations. It allows clients to learn and try multiple risk management strategies without any deposit.
Is WorldtradexFX an ECN broker?
WorldtradexFX compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like WorldtradexFX to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for WorldtradexFX traders. All payments made to WorldtradexFX by traders are securely held in a segregated bank account. Trading online with WorldtradexFX requires an understanding of what you are doing. It can be challenging and requires significant research and understanding of the WorldtradexFX trading tools and features. That’s why we’ve compiled this detailed WorldtradexFX review with some important information that will hopefully make you more informed when online trading with WorldtradexFX.
The network charged a fee of 1 USDT, and the remaining amount was credited to our account in USD within minutes. For those familiar with cryptocurrency wallets, this process is very simple and quick. Periodically, Worldtradex offers the WorldtradexFX Champion Demo Contest, a monthly, risk-free trading competition using virtual funds.
One of the best choices for your first steps as a forex trader with WorldtradexFX is an MT4 Micro Account. The first, and best place for most traders to get started is an WorldtradexFX demo account. Here you can learn the ropes, ideal for a beginner, with no obligation to enter live trading.
