That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account. In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.
- With over 200 available assets, traders can diversify their portfolios and take advantage of different market conditions.
- As for the consistency the Broker performs quite good operation along all the years and we didnt find serious breach of rules or fines imposed.
- Being ahead of the curve; knowing the timetable of economic releases by way of a calendar, is an absolutely vital aspect to support trading performance.
- You will be required to fill in the account application form with your details and may be asked to provide some KYC documents in order to verify your account.
- Traders can execute trades with precision, access advanced charting tools, and employ automated trading strategies using Expert Advisors (EAs).
- Comparatively interesting broker with own distinctive traits.in general, all conditions are quite similar to something that other brokerage companies offer, but, simultaneously, there are some differences.
It helps professionals in the forex market trade currencies, cryptocurrencies, indices, energies, and metals using advanced technology. The company is known for focusing on its customers by offering competitive prices and favorable trading conditions. You get free access to the MT4 trading platforms along with educational materials and useful trading tools to enhance your trading experience further.
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As the majority of Forex brokers, worldtradex also offers to use leverage, a powerful tool to increase the potential of gains through its possibility to multiple initial accounts balance. However, leverage should be used smartly as it increases the power of losses as well. Also, always consider worldtradex rollover or overnight fee as a cost, which is charged on the positions held longer than a day defined by each instrument separately. In my opinion, MT4 is an excellent option for fast and simple order execution. While its design may not be as modern as some newer platforms, it remains a reliable choice for many traders.
In addition, the worldtradex’s MT5 platform includes trading alerts, an in-built economic calendar, and the MQL5 programming language to build custom tools and trading robots. The platform is available for PC, macOS, Android, and iOS, enabling better accessibility for traders. worldtradex’s live chat feature offers instant access to customer support, allowing traders to receive real-time assistance directly from the trading platform.
This makes the broker a worthwhile option for serious forex traders who will also enjoy the VPS service and MT4 support. Having tested hundreds of forex brokers, I feel that the worldtradex’s education section is fairly average, with a decent range of materials available but nothing that stands out. worldtradex’s stop-out kicks in when your margin level drops to 50% or lower. At this point, the forex broker will begin to close your positions until the margin level of your account is above the threshold again. EeziePay and AWEpay process both deposits and withdrawals instantly, however you should be wary of currency conversion fees.
For a final thought, we see worldtradex as a company that gives an opportunity to engage in trading with the STP/ ECN model and quotes provided directly by the liquidity providers. The broker designed various accounts with comprehensive features and different minimum deposit requirements that allows traders of different levels to start trading in worldtradex conveniently. worldtradex offers a comprehensive mobile trading platform available for both iOS and Android devices. worldtradex places paramount importance on trust and safety, strictly adhering to global compliance standards to protect its traders.
Rather big leverage, tight spreads, accurate execution and Metatrader platform ensures stable & profitable trading. I like worldtradex not only because of its low spreads and generally loyal policy towards traders. The company conducts its work in a completely transparent manner.Indeed, it is difficult to find a broker with such a reputation that has been working Worldtradex courses scam steadily for 12 years without much tragedy and upheaval. This is exactly what an experienced trader needs.I would also like to note the technical support service.
Is worldtradex an ECN broker?
I actually prefer to take control of my own trading as I like to be responsible for my decisions. It can be good to learn from mistakes and improve your trading skills by having some hands-on experience. Free demo accounts are available if you don’t want to take any risk whilst practising. I use the desktop platform for running automated systems as it is the only version which can. The web version of the platform is great if you need to access your account from any device without installing any software and it is always up to date. The mobile trading app is perfect for taking the markets with you in your pocket.
Any and all partnerships with industry regulars are not and should not, be viewed as an endorsement or recommendations by topfxbrokersreview.com, even though we may be sponsored by some of the brokers. We are not liable for losses that resulting from the information provided on our site. worldtradex, established in 2010, prides itself on being a pioneer in Electronic Communication Network (ECN) forex trading. Headquartered in Cyprus, it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers access to a diverse range of financial instruments through its award-winning trading platforms. I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability. worldtradex offers traders a competitive commission-free trading environment.
worldtradex Trading Hours (GMT +
Client money is also kept in separate accounts at Tier 1 banks, adding still another level of protection. For traders looking for a safe trading environment, worldtradex is positioned as a consistent option by this mix of control, defensive actions, and financial transparency. Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today.
- It’s always recommended to consult their website for the latest fee schedule.
- It is relatively straight forward process to open an account at worldtradex.
- Although this cost is meager compared to some other brokers, casual traders should keep this in mind.
It’s important to note that bonus terms and conditions apply, so carefully review them before claiming any offers. worldtradex holds a regulatory license from the Cyprus Securities and Exchange Commission (CySEC). It also operates an unregulated but duly registered subsidiary in Vanuatu, where most international clients trade. Perhaps, it’s one of the most significant characteristics for traders.
Which platforms does worldtradex offer?
After 120 calendar days of inactivity, worldtradex begins to charge dormant accounts a monthly inactivity fee of 5 units of the base currency (EUR, USD, GBP). This fee is waived once trading activity resumes or the account balance drops to zero. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid.
Regular deposit bonuses are available to both new and existing traders. These bonuses offer additional funds based on the amount deposited, enabling traders to increase their trading capital and potentially enhance their trading outcomes. worldtradex frequently updates its deposit bonus offers to align with market trends and trader needs, providing ongoing opportunities for enhanced trading capacity. worldtradex incorporates the renowned MetaTrader 4 (MT4) platform, which is suitable for casual trading. MT4 supports basic technical analysis and automated trading via its Expert Advisors (EAs) feature.
Execution
worldtradex seems to be a comparatively strong broker with comprehensively developed trading conditions. Lies upon lies, I couldn’t withdraw my profit and they kept asking for more money which is absolutely ridiculous! My withdrawal was delayed with mo good reason given, my time, money and effort was wasted for nothing. I lost hope until recently i came across a review of someone who got their money back from another company.
How to Open an worldtradex Account – A Step by Step Guide
I am personally satisfied with this brokers regulation and wouldn’t have any problem using them for my trading. If you would prefer some more top-tier regulators, then you might want to consider City Index as an alternative option. Also, a recommended minimum deposit of $500 is suggested for those looking to maximize their trading experience and access additional features. 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. 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.
The service provider is BeeksFX, but worldtradex clients must have a minimum account balance of $2,500 and a monthly trading volume of 30 standard lots. With no minimum deposit, high leverage, and low trading costs, worldtradex is ideal for beginner traders and demanding seasoned ones alike. worldtradex uses state-of-the-art Secure Sockets Layer (SSL) network security protocol to keep client private information safe.
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