While it offers a variety of trading instruments and platforms, its overall offerings and ratings are average in the competitive forex market. worldtradex offers several trading platforms, available for PC, Mac, and mobile devices. The options include the popular MetaTrader 4 and the Personal Multi Account Manager but the broker does not have a proprietary software platform. This may be a weak point for the broker but it should not bother traders, especially since MT4 is familiar to most of them. With CFD on shares, traders can invest in some of the largest and most successful companies in the world without actually owning any company stock.
Brokers Guides
- With it, clients have access to more than 200 financial instruments in Forex, shares, spot indices, spot metals, futures, and commodities.
- As mentioned earlier, worldtradex’s support for over 500 instruments, copy trading services through TradeCopier, and over 10k competition prizes are the main benefits of trading with this broker.
- worldtradex is a relatively small FX and CFD broker but it offers its clients access to global markets, various trading instruments, and average spreads.
- With this type of account, traders receive direct access to other participants in the market.
- It offers beginner education videos and general education on forex and CFDs.
worldtradex processes payments in several different currencies and deposits in any other currency would be converted into the base currency of the client account. Accounts can be registered in USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, and HUF. The broker does not charge any fees for deposits and withdrawals and the minimum deposit than can be made is $250, although that varies, depending on the type of trading account one opens. worldtradex operates under the regulation of several financial authorities, offering a high level of security and protection for traders.
worldtradex Account Types
The spreads on platinum and palladium are, of course, higher since palladium is not only 30 times as rare as gold but also more valuable than gold. The worldtradex mobile app is user-friendly and comes with essential features like real-time price updates, one-click trading, and access to account management tools. The app has received good reviews on both the App Store and Google Play, making it a reliable choice for traders who prefer trading on their mobile devices. It offers beginner education videos and general education on forex and CFDs. Based on its rating for education and beginners, it provides an average educational experience. worldtradex offers several types of live and demo accounts, which means that traders can test the various features and functions of the different accounts without investing real money.
This provides faster execution, more liquidity, as well as more accurate prices. STP (Straight Through Processing) execution does not include commission (the commission is within the spread) and these types of trades are forwarded directly to liquidity providers. Trading on spot metals is similar to Forex trading – traders can speculate on the prices of precious metals, taking short or long positions.
Ratings Summary
Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14. Forex, binary options, cryptocurrency, and CFD trading on margin involve high risk and are not suitable for all investors and traders. As mentioned earlier, worldtradex’s support for over 500 instruments, copy trading services through TradeCopier, and over 10k competition prizes are the main benefits of trading with this broker. The broker should consider releasing metatrader 5 platform to provide us with more charting and analytical tools more advanced. The platform is so easy to operate which is something I do not trade for anything and also it’s a good broker with great customer service.
The FCA has issued a license to 8Safe UK Limited, which operates worldtradex in the country. The deposit fees are typically free of charge, but withdrawal fees may apply depending on the payment method. Processing times vary, with some methods offering instant transfers and others requiring several business days. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
Margin requirements on index CFDs are as low as 1%, which means that traders who have a capital of only $100 can control a $10,000 position. There are a number of other benefits for those who wish to speculate on market indices – high volatility, low costs, and leverage, which gives traders more flexibility. Participating in financial markets involves high risk, which can result in the loss of part or all of your investment.
It’s worth noting that Trustpilot has detected and removed some fake reviews for worldtradex, indicating they take review integrity seriously. As with any broker, it’s advisable to conduct thorough due diligence before opening an account. When choosing a broker, it’s crucial to consider their reputation and trustworthiness. worldtradex broker received a 4.4 rating from over 280 reviews on Reviews.io website. These bonuses can significantly boost your trading capital, allowing you to explore new strategies with less risk. It’s been a wonderful one year trading here and it’s always felt very peaceful and smooth.
worldtradex Broker Spreads and Commissions
The STP/ECN Zero Spread is an ECN account and ECN stands for Electronic Communications Network. With this type of account, traders receive direct access to other participants in the market. The ECN broker manages to consolidate quotes from several participants, which is why spreads here start from 0.0 pips and are typically very tight. A commission is charged, however, because the broker needs to be compensated in some way. VIP members benefit from even better conditions – for instance, the spreads are tighter, around 1.4.
Once they try the demo versions of the accounts, they can register an actual trading account. There are several different types they can choose from – accounts are either Live or STP/ECN. With more than $3 trillion traded daily, the foreign exchange market or Forex is the largest financial market and the most popular option for retail traders.
- Forex, binary options, cryptocurrency, and CFD trading on margin involve high risk and are not suitable for all investors and traders.
- Accounts can be registered in USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, and HUF.
- Our independence from brokers and the companies we introduce, our commitment to maximum transparency, and our extensive experience in financial markets contribute to our ranking criteria.
- worldtradex is one of the most reputable Forex, CFD, Stock and Crypto trading brokers that has many offices around the world and is available to investors in Europe, UK, Australia, and more.
- MT4 is ideal for forex traders, offering advanced charting tools and a variety of indicators.
These revenue streams allow us to remain financially independent of advertisers, enabling us to provide all services with maximum transparency. Among the financial service providers, there are fraudsters that we promptly report. Feedback and rankings from authoritative sites like “Trustpilot” on the TradingFinder website assist all traders. Yes, worldtradex provides a comprehensive suite of educational materials for traders of all levels.
In addition, the broker accepts several instant banking transfer services, which are available locally – Union Pay for Chinese customers, DotPay for Polish traders, etc. The same platform is also available for mobile devices and it can be downloaded for free from the App Store or Google Play. For instance, it has 3 types of charts, namely bars, Japanese candlesticks, and broken line, but it features only 30 of the most popular technical indicators. CFDs on indices give traders exposure to the global markets and great opportunities to profit from some of the most popular indices in the US, UK, Germany, China, etc. Indices represent the collective value of underlying publicly-traded companies. Additionally, the broker provides research tools such as daily market analysis, economic calendars, and technical indicators, which help traders stay informed and make better trading decisions.
We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points. worldtradex holds a mixed reputation online, with both positive and negative reviews from users. While many traders appreciate the broker’s competitive spreads and educational resources, some users report slow withdrawal processing times and occasional customer service issues. Overall, worldtradex maintains a strong market presence and continues to be a popular choice among traders, despite a few drawbacks. The broker charges an inactivity fee and requires a minimum deposit, but it also offers discounts for active traders.
However, this type of account is offered only to traders who make deposits of $10,000 or more and have the US dollar (USD) as their base account currency. Digital wallets or e-wallets are fast, secure, and convenient methods to send and receive electronic payments. worldtradex accepts several different e-wallets such as the widely popular Neteller and Skrill, as well as FasaPay, a Malaysian e-wallet that is accepted by various FX brokers.
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I cannot find any reason for the platform to lack popularity, considering its services. Sure I would like to see a few improvements on the platform, but it is really darn fine. Founded in 2013, Tradingpedia aims at providing its readers accurate and actual financial news coverage. Our website is focused on major segments in financial markets – stocks, currencies and commodities, and interactive in-depth explanation of key economic events and indicators.