WorldTradex now offers trading in currency pairs, commodities, indices and cryptocurrencies. Perhaps because trading CFDs is not the same as trading the stocks themselves, it is much more risky. But what this broker has is debugged in work, like the most accurate mechanism. This also applies to https://worldtradex.site/ payments, and technical support, and the organization of trading. Serving both beginner and experienced traders, WorldTradex has a variety of instructional materials meant to improve traders’ knowledge and skills. Basic e-books, educational articles, and a dictionary of key trading terms—which act as fundamental tools for understanding market dynamics—are available through the broker.
Forex Fees
- Free demo accounts are available if you don’t want to take any risk whilst practising.
- This is a rare feature that you don’t see at many rivals, and a promising sign of transparency.
- Perhaps because trading CFDs is not the same as trading the stocks themselves, it is much more risky.
- It can be good to learn from mistakes and improve your trading skills by having some hands-on experience.
- There are no commissions and tight spreads sourced directly from liquidity providers.
- I think it is great how the broker supports Muslim traders by giving them the option of a swap-free account which complies with Sharia law.
They can provide answers to all of your general, technical, and account-related inquiries. The support team can be reached via telephone, email, live chat, online form, and social media. However, the broker does not offer any other platforms such as MetaTrader 5 (MT5), cTrader, or an in-house proprietary platform. After MT4, I would prefer MT5 as the second choice because of its additional features including more timeframes and built-in tools. If you are looking for more platforms, then RoboForex could be an option for you as they have a good selection. WorldTradex stands as a quintessential ECN – STP broker, diligently aligning every trade that our clients make within an Electronic Configured Network (ECN), facilitated through a Straight Through Processing (STP) method.
However, this is still a powerful platform that will provide everything needed for experienced traders to conduct technical analysis while also being intuitive enough for beginners to pick up easily. However, not all currency pairs are as generously priced – GBP/USD trades with a 1-pip spread, which is more expensive than the average of around 0.3 pips at Fusion Markets, for example. On the downside, WorldTradex supports accounts in just a few currencies (USD, EUR, GBP), with USD only for wire transfers. As a comparison, Fusion Markets offers 10 deposit currencies, which can help prevent the need for often costly conversions.
- Spreads on important currency pairings start as low as 0.1 pips, which appeals to budget-conscious traders.
- The very first thing I noticed when I started trading with the ECN XL account was the instant execution.
- EEA-based traders manage their portfolios from a subsidiary that is authorized by the Cyprus Securities and Exchange Commission (CySEC).
- The alignment of WorldTradex with client trades facilitates counter-party executions, showcasing WorldTradex’s unwavering commitment to client interests, making it a reliable ally for traders.
- Our membership with the Investor Compensation Fund (ICF) is a testament to our dedication to providing an added layer of financial assurance.
- The broker lets you trade the available financial instruments using the MT4 trading platform.
- Although WorldTradex’s research products are helpful for traders, they might not be as thorough as those of other top brokers; hence, users should always augment their research with other sources as needed.
Customer Service
It creates unrealistic trading expectations, and the absence of trading psychology negates the educational value. This platform provides full trading functionality, charting tools, and technical analysis capabilities essential for both beginner and advanced traders. WorldTradex provides access to the widely popular MetaTrader 4 (MT4) platform, known for its reliability and advanced trading features. The platform supports seamless trading across multiple asset classes, including CFDs, forex, and cryptocurrencies, ensuring flexibility for various types of traders. Positives are the no minimum deposit, free demo account and excellent support, however it lacks the educational tools or social trading features provided by category leaders like eToro. WorldTradex’s ‚No Dealing Desk‘ execution model comes with no dealer intervention and no re-quotes.
Brokers By Licenses
Following three months of account dormancy, the broker levies a $5 inactivity fee per month. Although this cost is meager compared to some other brokers, casual traders should keep this in mind. While other online payment systems like Neteller and Skrill have a set 2.7%, but bank wire transfers cost between $30 and $ 45. WorldTradex uses a spread-only methodology; hence, its ECN XL account shows no extra trading commissions. Spreads on important currency pairings start as low as 0.1 pips, which appeals to budget-conscious traders. For EUR/USD the average spread is about 0.8 pips, which is reasonable given many other brokers.
Unique Features
It maintains sufficient capital reserves, segregates client deposits from corporate funds, offers negative balance protection, and undergoes audits. While an WorldTradex no deposit bonus does not exist, WorldTradex offers a 100% first deposit bonus with a $2,000 limit. Terms and conditions apply, and I urge traders to read and understand them before accepting the incentive. WorldTradex occasionally introduces other bonuses and promotions, which have included a $50 WorldTradex no deposit bonus or annual interest on free margin.
An inactivity fee of $5 per month is applied after three months of no trading activity. If you have traded with WorldTradex we would really like to know about your experience – please submit your own review. This average customer rating is based on 27 WorldTradex customer reviews submitted by our visitors. WorldTradex does not have a proprietary mobile app, though MT4 can be downloaded to Android and Apple devices.
A Paradigm of Integrity and Client-Centric Approach
The average spread for major currency pairs is below 0.5 pips or less than $5.00 per lot, offering traders a distinct pricing environment advantage. The Vanuatu Financial Services Commission (VFSC) provides WorldTradex with a competitive regulatory environment for international clients. EEA-based traders manage their portfolios from a subsidiary that is authorized by the Cyprus Securities and Exchange Commission (CySEC). The Cyprus Investor Compensation Fund (ICF) protects retail trades in the event of insolvency up to €20,000.
WorldTradex is a retail broker that provides traders with the popular MT4 trading platforms, useful educational materials and robust trading tools, to trade in the global financial markets. Our raison d’etre is to craft the most customer-oriented proposition within the industry. We are unwaveringly devoted to fostering our clients‘ prosperity, presenting competitive pricing through the most equitable and transparent order process in the retail forex trading market. WorldTradex’s primary ambition is to equip our clients with the requisite tools to hone their skills and relish an unparalleled trading experience at every phase of their voyage.
Clients have access to the full suite of the out-of-the-box MT4 trading platform. It fully supports automated trading and is one of the most versatile trading platforms available. MT4 upgrades are available through third-parties for an additional fee to (potentially) enhance the trading experience. One significant advantage is that WorldTradex offers a more in-depth introduction to MT4, which many brokers fail to do, and which can truly set traders up for longer-term success. I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability. The EUR/USD spread ranges between 0.0 pips and 0.3 pips, with occasional spikes during the market news and trading session breaks, which WorldTradex transparently displays on its website.
WorldTradex provides traders with access to a variety of research and educational tools designed to enhance trading knowledge and skills. These resources cater to both beginner and experienced traders, offering valuable insights into market trends and strategies. While the broker does not boast an extensive educational library, it offers enough material to assist traders in improving their technical and fundamental analysis skills. Additionally, the broker provides several specialized accounts, including demo accounts for practice trading, Islamic accounts adhering to Sharia principles, and managed accounts for those preferring expert guidance. Whether you are a beginner looking for a low-cost entry into the forex market or a professional trader seeking competitive conditions, WorldTradex’s ECN XL account provides a solid, flexible option. ECN XL, also known as the ZERO account is one of the most cost effective trading accounts.