worldtradexFX Review 2024: Security Fees Performance Analyzed

It is possible to trade forex, metals, soft commodities, single stocks, indices, energies and a choice of five cryptocurrencies. The MT4 account demonstrates the limited selection by only offering four stock indices (AUS200, GER30, NAS100, US30). The dashboard, or client portal, provides relevant information and tools regarding the account.

Fees

• Although increasing your margin could boost your market exposure, it also raises your vulnerability to losses.
• Overall, the account opening process took 3 minutes which is the fastest application I have completed for opening a live trading account.
• Online reviews have revealed that this isn’t quite significant enough to call the broker well regulated.
• In our review, we only had the option to use Neteller, Skrill, and cryptocurrencies.

Numerous sections focus on customer services related to accounts and administration rather than market-related issues. A status program is offered where clients, based on their deposited funds, can access different https://worldtradex.pro/ levels that provide enhanced services. Established in 2011 and located in London, worldtradexFx is a forex broker that renders its services to users worldwide.

Trading tools

worldtradex is as confident about its financing costs as it is its execution fees. The breakdown across the two different types of accounts is laid out in a reassuringly transparent manner. These include news updates, price charts, and technical indicators. worldtradex Markets Ltd serves its clients in the Americas and other parts of the world and is regulated by the Mwali International Services Authority (MISA) in the Comoros. This regulation does not provide significant protection for consumers. On the positive side, it allows worldtradex greater flexibility in leverage and instruments while still serving clients from around the globe.

Swap-Free Account Fees

Use our country selector tool to view available brokers in your country. We couldn’t leave this review without highlighting some areas where the broker could improve. The best part is that most of the content is free of charged and can be viewed on the firm’s website. So, if you’re a beginner, why not give yourself a leg up before going head first into the world of trading?

worldtradexFX spreads are higher on the MT4 account with only 37 tradable instruments on offer. A typical spread for the EUR/USD currency pair is stated as 1.1 pips, while the MT5 Pro account provides the complete range of tradable products, with slightly lower spreads of 0.9 pips. Overall, worldtradexFX has low spreads when compared with similar brokers. Most major forex pairs have spreads close to zero, particularly on the ECN account. During our testing, we found the internet browser offered the best route into all the ‘extras’, such as copy trading, that worldtradex offers its clients.

This review will focus on its regulations, trading instruments, deposit & withdrawal methods, online trading fees, spreads, leverage and how to open an account. It will also explore the investment safety measures provided by the broker. Another program offered by worldtradex is a tiered loyalty program (without fees), where traders advance through categories based on their account balance, gaining access to benefits and rewards. The worldtradex Status Program allows traders to unlock various benefits based on their trading account balance. It consists of four levels (Bronze, Silver, Gold, and Platinum). Benefits include lower spreads, faster transfer and withdrawal times, access to personal account experts, and various rewards based on their trading activity.

If you prefer to trade less liquid and higher risk assets you also have access to altcoins like Dogecoin to speculate on. Overall, the account opening process took 3 minutes which is the fastest application I have completed for opening a live trading account. Withdrawing from my account was also fast, according to my account manager each withdrawal takes roughly 2 hours to get approved.

The ‘Forex Basics/Technical Analysis’ library, for example, contains a step-by-step guide to support traders that are getting into trading. This guide ranges from a glossary of the basics to videos on the important question of which time frame to adopt. Platform choice ultimately comes down to personal preference, but worldtradex has signalled its intent by offering its clients the choice of two market-leading platforms. At 100brokers, clarity and transparency are essential values. Our platform is free for users, earning commissions from some partners without extra cost to you.

The minimum deposit depends on the account type and payment method, but it can be as low as $50 for some account types. However, the range of available methods for the region where the review was conducted from is not very broad, as transfers and credit cards (debit) are not available. Still, the experience with cryptocurrencies was quick, successful, and efficient. The worldtradex platform provides a web-based and mobile alternative, but there is no desktop version, which can be inconvenient for traders who prefer a dedicated program over a web browser.

I think the broker’s trust is supported https://worldtradex.space/ by its 60+ awards from the forex industry and 8,000+ positive TrustPilot reviews demonstrating that its clients are happy with its operations. The copy trading platform is also a bonus, which is the perfect opportunity to mirror the trades of 1,500 traders and leverage their experience to profit from leveraged markets. I found all platforms worldtradex offers provide mobile trading apps on your iOS or Android device, which can be downloaded directly from the broker’s website.

In addition, worldtradex boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. We would advise you to stick to the web-based version for more advanced options and a better experience. The app is available on Android and iOS for MetaTrader and cTrader platforms through iTunes and Google Play where it has very high reviews. Not only this, but the worldtradexFX team follows up with reviewers.