She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions. The web-based platform offered by worldtradex allows you to trade directly from your browser without the need for software downloads. This convenience enables you to access your trading account from anywhere, offering flexibility for those who are constantly on the move. One of worldtradex’s standout features is its comprehensive and insightful research and educational content. Among the drawbacks I found were the lack of an alternative to the MetaTrader 4 platform and elevated spreads on certain popular instruments, such as EUR/USD and GBP/JPY.
All withdrawal requests from a trading account will be funded to a bank account or source in the trader’s name. Founded in 2010, worldtradex maintains regulatory oversight from CySEC, ASIC, the FCA, and the FSCA, an impressive list of highly regarded regulators. Trading is offered on multiple assets, including commodities, indices, metals, futures, shares, and over 80 Forex pairs, a larger range than is typically seen at other brokers. Despite its growing popularity, worldtradex has both strengths and weaknesses you should consider. Understanding these can help you navigate your trading experience effectively.
Platform support is limited to MT4, but worldtradex offers an upgraded package labeled MT4 Advanced, which transforms MT4 into a state-of-the-art trading terminal. Traders can also choose between nine live flexible accounts, including a low-deposit Cent Account that appeals to beginners who prefer to make smaller trades measured in micro-lots. For traders at worldtradex, spreads vary depending on the account type and market conditions.
Accounts for a demo trading environment allow you to practice your strategies without any financial risk. Knowing the various account types available can help you select the best option that aligns with your trading strategy. Established in 2010 and headquartered in Cyprus, worldtradex is a financial derivatives broker known for its extensive range of trading tools and features. Compared to the industry average, worldtradex offers an average number of share CFDs and commodities and a high number of currency pairs, and indices. With the Premium account, I enjoyed faster trade execution and improved order management.
This account type provides access to competitive spreads starting from 1.8 pips and allows traders to explore the markets with flexible trading options. The Micro Account is ideal for new traders who want to familiarize themselves with Forex trading without committing significant capital. It also includes access to worldtradex’s MT4 trading platform, which provides a wide range of tools and resources to help traders make informed decisions. worldtradex provides a solid and comprehensive platform for beginners, with user-friendly tools, educational resources, and competitive trading conditions. While the broker faces some customer service complaints and issues with withdrawal processing times, it remains a reputable choice for traders. For beginners looking for a reliable and flexible broker, worldtradex offers a range of features to get started.
In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s operating history, company size, and information transparency. Overall, I concluded that worldtradex is an excellent choice for day traders, copy traders, and algorithmic traders. Broker now has a global presence with offices in more than 60 countries and customers in over 180 countries that it supports in 45 different languages. worldtradex also offers a Demo Account, and in the past a Cashback Account, which unfortunately is no longer available. Get ready to stay ahead of the curve with our regular updates designed to help you make informed trading decisions. worldtradex can be contacted on local toll-free phone numbers, live chat, and email.
Most other brokers have demo accounts that don’t expire, so this is an unusual move on the part of the broker. The final trading cost to consider at worldtradex is the swap rate charged on positions held overnight. In the case of Forex instruments, the amount charged depends on both the positions taken (i.e. long or short) and the rate differentials between the two currencies traded. worldtradex’s swap rates are published on its website for each financial instrument, and the exchange is automatically converted to the base currency of the trading account of the client. Additionally, it should be noted that the average trading costs at most other brokers tend to be 9 USD or lower. Trading costs on all account options at worldtradex are significantly higher than this average – at between 11 and 22 USD per lot traded.
It typically offers spreads as low as 0.0 pips but does incur a commission fee, making it necessary to calculate your overall trading costs carefully. The ECN environment also delivers faster execution speeds and greater transparency in pricing. The ECN Account provides you with access to tight spreads and requires paying a commission on trades.
The fee is charged until account activity resumes or the account balance drops to zero. I assessed that worldtradex’s swaps were average to high compared to the industry benchmark. 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. However, I also spotted that the broker’s website does not display live spread data.
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. Tune in to “Let’s Talk Forex,” a podcast designed for traders of all levels. From market analysis and trading strategies to interviews with industry experts, this podcast covers the breadth of the forex landscape. Join the conversation and discover insights that can help you navigate the exciting world of currency trading.
The broker provides featured trading ideas from Trading Central, offering day traders insights into developing market setups. While it offers a range of supporting tools, it had above-average spreads on instruments like GBPJPY and US30 during my test Worldtradex company reviews and lacks an alternative to MT4. worldtradex’s support for the Sirix Social WebTrader platform lets you access financial markets and recent trades.
worldtradex operates through five entities, three of which are regulated by top-tier financial authorities, while the other two are offshore and unregulated. The broker ensures client safety by maintaining segregated accounts for client funds and offering negative balance protection. worldtradex offers a variety of bonuses and promotions, which can provide new traders with additional capital to get started. The broker regularly updates its bonus offers, so it’s essential to check the website for the latest promotions. The deposit fees are typically free of charge, but withdrawal fees may apply depending on the payment method.
The mobile applications for MT4 are fully featured and highly rated, so there should be no issue. Customer support is available 24/5, in 30 different languages to support clients from over 180 countries in Europe, Asia, the Middle East, Africa, and Latin America. Compared to other similar brokers, worldtradex’s account opening process is fast, generally hassle-free, and fully digital. We suggest you read worldtradex’s risk disclosure, customer agreement, and terms of business before you start trading.
This is unusual and not consumer-friendly, as most brokers publish their withdrawal and deposit fees on their websites. worldtradex offers a wide range of deposit and withdrawal methods, and while no fees are charged for most methods, withdrawals by bank wire transfer are expensive. worldtradex supports two execution models and a range of account options – four instant execution accounts and three market execution accounts. A drawback for beginner traders considering worldtradex is the lack of educational and market analysis materials available, forcing traders to self-educate with other third-party platforms. Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research.
Most notably, the broker offers its own version of the popular, straightforward and sophisticated MT4 platform. worldtradex also offers a free research mobile app shown in the screenshot below. worldtradex has an excellent reputation and is one of the industry leaders in the world of forex trading. It is one of the sponsors of the 2018 Offshore Racing Congress (ORC) European Championships and will support an worldtradex Racing Yacht.
In this comprehensive review, you will examine into worldtradex’s trading platforms, diverse account types, and competitive fees, helping you make an informed decision. Additionally, you will gain insight into user experiences that can reveal potential pitfalls and advantages when choosing worldtradex as your trading partner. Understanding these elements is crucial for successful trading, ensuring your investments are managed with due diligence. worldtradex has its own Academy where you can learn via seminars and webinars, or find out about an expo to attend. worldtradex has its own set of trading tools, such as calculators for margins, pips, and currency conversions. There is also free VPS hosting and a visual representation of when the major markets are open.
Premium Account holders benefit from worldtradex’s full range of MT4 and MT5 platforms, offering advanced tools and features. This account is ideal for traders looking for more competitive pricing and better execution speeds, while still maintaining flexibility in trade sizes. The Premium Account strikes a balance between cost efficiency and enhanced trading capabilities. The worldtradex Micro Account is designed for beginner traders and those with smaller capital, offering a low minimum deposit of $100.
