Honestly, I was having a lot of doubts before I started working with this brokerage company because I have not heard a lot about them. Anyway, after reading some reviews I decided to give it a shot and signed up for this company. To my surprise everything was better than I expected, I didn’t have any problems with the registration process. These combine well with worldtradex’s free forex VPS, hosted by BeeksFX, which is available to traders who deposit at least $2,500 and trade at least 30 lots per month. This is low compared to many brokers, but it’s still a downside since rivals like Vantage charge nothing, making them a better fit for casual traders.
Platforms & Apps
After completing the registration process, I decided to take advantage of their 100% deposit bonus and it was easy and peasy to meet all the terms and conditions. Under its ECN XL account, worldtradex charges no trading commissions; it depends on competitive spreads to make money. For high-frequency traders trying to cut expenses, this structure appeals especially. Further improving the broker’s cost-effectiveness without deposit or account Worldtradex review maintenance fees. worldtradex provides traders with access to a variety of research and educational tools designed to enhance trading knowledge and skills.
Also I didn’t mind the platform, MT4 was here all my life, and I am happy to use it because it didn;t compromise on quality, it still offers the same services, legit and quick. Overall, a great experience for what I have got for like 8-9 months, they’v earned a loyal customer. TradingBeasts helps individual traders learn how to responsibly trade forex, cryptocurrencies and other asset classes. We review and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns that we come across. We are also a community of traders that support each other on our daily trading journey. Despite offering crypto trading 24/7, worldtradex does not offer 24/7 customer support.
“Transparent and honest broker”
Widely known for its simple interface and strong trading capabilities, the MetaTrader 4 (MT4) platform is the only supported choice by worldtradex. Even though design of MT4 might be slightly outdated, also some capabilities should be added on as extra, like VPS, overall platform showed good performance, also execution based on ECN connectivity is very good. worldtradex operates on a spread-only model, with spreads starting as low as 0 on major currency pairs.
However, traders seeking stocks or deep education and market research will need to look elsewhere. Also, the offshore regulation for non-EU traders and expensive withdrawal fees are notable drawbacks. worldtradex enhances the mobile trading experience by offering the MT4 and MT5 applications, compatible with iPhone, iPad, and Android devices, ideally suited for day traders.
Fees & Costs
Supported by the MetaTrader 4 (MT4) platform, which is well-known for its simple interface and strong trading capabilities, worldtradex helps beginners to run transactions and access learning materials. Furthermore, controlled by the Cyprus Securities and Exchange Commission (CySEC), worldtradex offers a degree of security very vital for new traders joining the market. Key results from testing the worldtradex PC platform expose flawless execution of transactions, real-time market data, and many analytical tools necessary for efficient trading methods.
I would always like to check a calendar prior to taking any trade decision. Yes, worldtradex provides negative balance protection to ensure that traders cannot lose more than their account balance. This feature safeguards your investments by preventing your account balance from going into a negative state, thereby mitigating the risk of unexpected losses. These flexible deposit options make worldtradex accessible to a wide range of traders, from beginners to high-frequency and institutional traders. Through these educational tools, worldtradex equips traders with the knowledge and confidence needed to navigate the markets successfully.
Versatile Broker with Competitive Spreads
worldtradex uses a no-dealing desk model and does not act as a market maker, reducing the risk of price slippage or a conflict of interest by the broker. Our team rates worldtradex’s execution model, which combines straight-through processing (STP) and electronic communication network (ECN) to ensure fast and high-quality execution with low pricing. Bank wire transfers are on the slow end, taking between five and seven business days for both deposit and withdrawal requests, while crypto transactions are usually fast, taking 15 minutes or so.
By means of Expert Advisors (EAs), the platform offers automated trading, empowering algorithmic traders to apply their ideas efficiently. For both new and seasoned traders looking for a strong but straightforward trading environment, worldtradex’s MT4 platform is an overall fit. As we find at worldtradex Account offerings there are two ECN accounts offered which differ by the level of trading size, experience, and particular demands. The most popular and widely used worldtradex ECN XL Account features extra benefits of zero swaps, commissions, or mark-ups, or might be fully tailored solution for active traders or those who operate bigger sizes. Yet, as we notice ECN Promo account is currently unavailable for signing so mainly worldtradex Login to ECN XL is available. Trading with worldtradex will involve fees from $3 USD / R 60 ZAR, spreads from 1.3 pips to 1.5 pips, and commission-free trading depending on the account type traders select.
That’s a key factor for me and that’s why I decided to join them and I can say since the moment I started trading through this broker I didn’t have any problems. However, some FX specialists like Forex.com offer thousands of additional instruments, so it’s disappointing to find just 27 non-forex assets on the worldtradex platform. ForexBrokersOnline.com aims to provide the most comprehensive source of information about forex brokers. Before making any trading related decision, contact a local professional financial advisor. To ensure we offer traders accurate and current information, our forex broker reviews also undergo rigorous editing and fact-checking. Our forex broker ratings are the result of a blend of quantitative data and qualitative insights gathered during the testing process.
People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. On the downside, the offshore branch is unregulated, reducing the broker’s safety rating for global traders. The online broker covers a range of important topics including guides on foundational information for the forex market that all beginners should read. Clients can also download a range of ebook PDFs for free that go into further detail on strategizing and online trading.
worldtradex partners with leading stock exchanges to offer an extensive range of stocks, including blue-chip companies, mid-cap stocks, and emerging market equities. Traders can explore shares from various sectors such as technology, healthcare, finance, energy, and consumer goods, allowing for diversified investment strategies. Additionally, worldtradex provides real-time market data, advanced charting tools, and comprehensive research reports to assist traders in making informed decisions. You get free access to the MT4 trading platforms along with educational materials and useful trading tools to enhance your trading experience further.
- However, the selection falls short of the comprehensive educational offering available from best-in-class brokers like eToro, limiting the brokerage’s appeal to beginners.
- In addition to forex, worldtradex offers a variety of commodities, including popular options like gold, silver, and oil, which are ideal for those seeking to hedge or invest in physical assets.
- On the surface, this is an ideal offering that provides the best of both worlds, though in practice we found some instruments pricier than others, so you shouldn’t expect superior pricing across the board.
Yes, worldtradex is regulated by reputable financial authorities, including the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority (FSA) of St. Vincent and the Grenadines. These regulatory bodies impose strict guidelines and standards that worldtradex must follow, ensuring the broker operates with integrity and transparency. Additionally, worldtradex holds licenses in multiple jurisdictions, providing a significant level of oversight and protection for traders. worldtradex offers a range of handy deposit options to suit traders’ requirements. worldtradex notably charges no deposit fees, thereby enabling traders to begin free from further expenses. While bank transfers could take longer, e-wallet transactions usually take one hour, and deposits are handled rapidly.
The broker also provides you with copy trading via Multi-Account Management (MAM). Copy trading is helpful for you if you don’t want to scan the markets for trades yourself because you don’t have the time or knowledge to do so. Instead, you can select a professional trader with a solid track record and start copying trades in return for a small commission to the manager.
Cost Structure and Fees
- The worldtradex brand is authorized and regulated in multiple jurisdictions worldwide.
- This restriction could be a disadvantage for traders who want web access for convenience.
- During testing, we have been impressed with the ECN pricing that offers spreads from 0.0 pips, while the 70+ currency pairs provide better market coverage than most alternatives.
- Trading and investing in financial instruments comes with a high degree of risk and you can lose money.
Looking at the screen throughout the whole day, and watching how quotes jump does not give a sense of a presence in the market. I appreciate the support team of the worldtradex broker for the help I get here in terms of conversations and questions that I ask about different issues. I was attracted by low margin requirements, high leverage and tight floating spreads. Together with the NDD/ECN executions, the broker’s offer is far above the middle range of the industry. Some traders might not like the light level of regulation, but the trading conditions speak for themselves.
Five MT4 user guides and a Forex glossary section are also available. worldtradex offers beginner traders a sound educational offering from where traders can expand. While an interactive course or videos are not available, the existing content provides a well-thought-through introduction to trading. The very first thing I noticed when I started trading with the ECN XL account was the instant execution.