There are no internal deposit or withdrawal fees, except for traders who request a withdrawal without placing a trade, which carries a 3% fee. Traders can open an worldtradex account via the online application form, which follows well-established industry standards. It asks for name, e-mail, phone number, country of residence and knowledge and experience.
Traders can choose from several account types, including Standard, Premium, VIP, and STP/ECN accounts, each designed for different trading strategies and levels of experience. worldtradex, founded in 2010, is a forex and CFD broker regulated by multiple authorities, including ASIC, FCA, and under MiFID regulations. While it offers a variety of trading instruments and platforms, its overall offerings and ratings are average in the competitive forex market.
In addition to its desktop platform, MT4 has mobile and web-based versions. worldtradex also offers a free research mobile app shown in the screenshot below. When it comes to cryptocurrencies, worldtradex recently partnered with EmurgoHK in 2018 to create a new cryptocurrency exchange called IronX. The IronX Exchange is a world-class, regulated cryptoexchange that lets you trade a variety of digital coins. You can also perform fiat-to cryptocurrency conversions, and leverage options are available for traders. The other alternative is to use the Personal Multi Account Manager (PMAM) but it is available only to professional traders and money managers.
Each demo account imitates real trading conditions, the only difference is virtual money is used. Mobile users benefit from total trade management without having to sacrifice functionality. The mobile offering also comes with the worldtradex Research app which gives users an overview of the financial markets and major news events. The software is considered one of the best in the industry, especially for forex trading. It is geared towards beginners and intermediates, promising easy-to-use features and straightforward portfolio management.
Withdrawal times vary depending on the banking provider but range from the same day to 10 days. Payments typically take up to 24 hours, though wire transfers may take up to five business days. Also, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity.
And thirdly, broker provides a wide range of financial instruments, including currency pairs. They offer the reliable MT4 trading platform, a range of products, plus competitive spreads and leverage levels. The choice of account types will also suit varying trading styles and capital needs. worldtradex provides 7 different live trading accounts, Standard, Premium, VIP, Live Zero Fixed Spread, No Commission, Zero Spread, and Absolute Zero.
Deposits and Withdrawals
AutoTrade lets you automatically “mirror” or copy another trader’s transactions who then gets paid a small part of the dealing spread. worldtradex offers an extensive choice of Contract for Difference (CFD) instruments. The broker’s wide range of CFDs include those based on an extensive list of forex pairs, in addition to commodities, indices, futures and over 100 individual stocks. When it comes to forex trading, worldtradex offers access to an impressive range of 120 currency pairs. The broker allows you to trade all major pairs and crosses, as well as some minor and exotic pairs. Which ones do you prefer – fixed spreads are easy since at every point the trader knows the difference between bid and ask.
worldtradex offers forex trading with tight spreads starting from 0 pips and no requotes, allowing traders to maximize their potential and minimize costs. worldtradex offers a robust selection of trading platforms that cater to diverse trading needs and preferences. With MT4 as the core platform, alongside innovative tools like the Webtrader, VPS Hosting, and TradeCopier, traders are well-equipped to navigate the forex and CFD markets effectively. MetaTrader 4 (MT4) is a popular trading platform used by both novice and experienced traders. It offers advanced trading tools, fast execution, and a user-friendly interface for trading forex and CFDs.
How can I trade commodities and futures?
worldtradex offers 83 forex pairs and 340 tradeable symbols, providing a decent range of trading options. However, its total tradeable symbols are far below the industry average of 3,623. The accounts of EU traders are protected up to EUR 20,000 via the Investor Compensation Fund (ICF) of Cyprus. In addition, they offer a PMAM platform for traders looking to manage multiple accounts. Social trading is also supported, although only via third-party solutions like Sirix Social WebTrader and the Myfxbook AutoTrade platform. Most notably, the broker offers its own version of the popular, straightforward and sophisticated MT4 platform.
No, Standard, Premium, and VIP accounts do not charge commissions, whereas the Live Zero Fixed Spread account does. Yes, worldtradex has hosted various trading competitions in the past, showcasing high prize pools and rewards for top traders. By following recommended security practices and staying alert to potential scams, traders can enhance their protection against unauthorized access. The broker implements advanced security measures designed to protect personal information, privacy, and funds.
Minimum Deposit and Account Types
Once registered, users Worldtradex forex broker can access the popular MetaTrader 4 (MT4) trading platform, flexible leverage and ultra-low spreads starting from 0.0 pips. This review will fully report worldtradex’s offering, including exclusive deposit bonuses, demo accounts and fast deposit and withdrawal methods. worldtradex presents a compelling choice for traders of all experience levels. Its extensive range of account types, along with robust trading conditions and educational resources, makes it suitable for both novice and seasoned traders.
What is the Battle of Traders competition?
- The broker does not have a huge range of commodity markets but it offers trade on the most popular ones.
- 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.
- worldtradex has traders from 180 countries, making it one of the most accessible brokers.
- The FAQ section answers the most common question, and live chat is available with fast response times for basic questions.
However, potential clients should consider mixed reviews regarding customer support. worldtradex, established in 2010, is a global forex broker that caters to a diverse range of traders, including professionals, active traders, and beginners. With a staff of approximately 200 and over 1 million active traders, worldtradex is not publicly traded, but it operates under strong regulatory frameworks from the FCA and FSCA.
worldtradex is a relatively small FX and CFD broker but it offers its clients access to global markets, various trading instruments, and average spreads. It is licensed by some of the largest and most respected regulatory bodies in the world and it does offer trader fund protection. It also allows multiple account management and free VPS hosting to those who deposit at least $5,000.
What are the trading conditions for forex?
With worldtradex accounts one can start from the account level which could correspond to experience level and risk aversion. The Premium Account is for traders who can afford to deposit at least $1,000. All base currencies can be registered and Premium Account holders will enjoy no commission on trades. Traders can deposit funds into their accounts via a wide range of payment methods, including traditional options such as bank wire and credit/debit cards. While credit card deposits are usually instant, transfers via bank wire may take up to 3 working days to appear in the trading account of the client.
Clients across Europe and the UK are offered two types of protection – segregated client bank accounts and financial compensation if worldtradex fails to pay its customers. In the UK, the Financial Services Compensation Scheme (FSCS) guarantees compensation of up to £85,000, while in Cyprus, the Investor Compensation Fund covers up to €20,000. The broker is also regulated by the Australian Securities and Investments Commission (ASIC) and with this license, the broker is authorized to operate in Australia, New Zealand, and South Africa. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. The worldtradex group presents clients with two regulated trading entities and maintains a secure trading environment.
- Available options include Debit/Credit Card, Neteller, FasaPay, Perfect Money and more.
- At the forefront is the MetaTrader 4 (MT4) platform, renowned for its reliability and user-friendly interface, allowing traders to access over 200 instruments across six asset classes.
- 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.
Floating spreads will move with the market and will be sometimes higher and sometimes lower than fixed. If you are trading larger amounts, you can save by trading when spreads are tighter. The basic premise is that there should be accounts for people who are beginners, for people who have done some trading and accounts for people who are experts and have high requirements. Experts will have no problem finding what they need, however the first two categories might get a bit lost.