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 maintenance fees. Particularly attractive to cost-conscious traders, worldtradex is a broker with a good reputation and large trading community with quite high scores on performance. worldtradex offers a comprehensive mobile trading platform available for both iOS and Android devices. worldtradex Forex broker provides a range of educational resources to help traders improve their knowledge and skills.
worldtradex
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 provides assistance to trading clients via its 24 hour Monday through Friday multilingual customer support service that features dedicated account managers. The broker also has a live chat service and an online form you can fill out, as well as a support email address, fax and phone number. In addition, worldtradex maintains active social media profiles on Facebook, Twitter, LinkedIn and other networks. In addition to offering free access to a Virtual Private Server (VPS), worldtradex currently offers an attractive bonus to account openers.
Deposit Options at worldtradex
This restriction emphasizes knowing one’s trading tastes before deciding on worldtradex as a broker. Technical indicators and broad charting tools of MT4 give traders complete analytical capacity. By means of Expert Advisors (EAs), the platform offers automated trading, empowering algorithmic traders to apply their ideas efficiently.
worldtradex Fees
Also, worldtradex is a member of the Investor Compensation Fund, which secures the claims of covered clients against a company in case of its insolvency. Negative balance protection provided by worldtradex guards traders from losing more than their account balance. 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. Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, worldtradex has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission.
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. No, worldtradex is a legit broker with regulatory oversight from the VFSC and the CySEC. worldtradex has two operating subsidiaries, one authorized by the business-friendly VFSC and one by the CySEC, which operates under the globally least-competitive ESMA regulatory framework. An inactivity fee of $5 per month is applied after three months of no trading activity.
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. Based on our expert opinion, worldtradex Forex broker has been recognized by numerous traders around the world as well by the significant number of awards they receive. worldtradex broker delivers dedicated support by a professional team and a good NDD trading environment based on quality technology, also with a good range of trading instruments and low fees and spreads. 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.
However, no investor compensation fund available in the Comoros should worldtradex, or one of its counterparties, become insolvent. If this is important to you, we suggest opening an account with an alternative broker, such as FxPro or AvaTrade. The choice of payment methods depends on the company that you open an account with, and your country of Worldtradex forex brokers reviews residence. Please visit the company’s website for a list of all payment methods.
Traders are given access to rare exotic pairs, such as MXNJPY, CHFPLN, USDHUF, and others. worldtradex provides its clients with Virtual Private Server (VPS) hosting for low-latency automated trading. VPS is a tool that facilitates average execution speeds of under 3 milliseconds, which is ideal for precise order execution. My research indicates that worldtradex’s overnight fees generally meet the industry benchmark. This is suitable for implementing longer-term trading strategies (e.g. swing trading).
- Yet, we advise always check with a particular payment provider in case of any other additional fees relevance or its possibility.
- The asset being traded will affect these fees, which apply to both long and short positions.
- worldtradex frequently updates its deposit bonus offers to align with market trends and trader needs, providing ongoing opportunities for enhanced trading capacity.
It’s fine if you want a no-fuss trading experience but seriously lacking in the research tools, analysis features. Like, they dont lure you in with leverage, dont create 15 account types. They dont have their own cooked up half-working trade platform, instead its tried and tested MT4 which is the best trading platform for retail by far.
- I also find the FAQs section on the website a useful way to solve basic queries.
- ForexBrokersOnline.com aims to provide the most comprehensive source of information about forex brokers.
- It creates unrealistic trading expectations, and the absence of trading psychology negates the educational value.
- However, the offshore worldtradex’s entity does not segregate its clients’ funds.
- In addition to the selection of major withdrawal options making payment quite well-orhanized, we also notice the broker covers processing fees for both deposits or withdrawals.
What trading platforms does worldtradex offer?
Before making any trading related decision, contact a local professional financial advisor. Our team highly rates worldtradex’s forex offering, which includes 72 major, minor and exotic currency pairs and is on par with competitors like OANDA, which offers 68 pairs, and Forex.com with its 82 pairs. Customer support is available 24/5 via e-mail, webform, phone, fax, and live chat. The FAQ section answers many of the most common questions, and worldtradex is transparent about its products and services. Most traders are unlikely to require additional assistance unless of an emergency.
It’s important to note that bonus terms and conditions apply, so carefully review them before claiming any offers. Both platforms are available on desktop, web, and mobile devices, allowing you to trade on the go and monitor your positions anytime, anywhere. However, the offshore worldtradex’s entity does not segregate its clients’ funds.
Customer Support
If you would prefer some more top-tier regulators, then you might want to consider City Index as an alternative option. Yes, our worldtradex review found that the broker is regulated by the FCA, BaFin, and CySEC. While these are all leading regulatory bodies, our worldtradex review experts highly suggest registering with one of our recommended and trusted online forex brokers instead.
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This average customer rating is based on 27 worldtradex customer reviews submitted by our visitors. Compare the markets and instruments offered by worldtradex and its competitors. Please note, some markets may only be available via CFDs or other derivatives. worldtradex does not have a proprietary mobile app, though MT4 and MT5 can be downloaded to Android and Apple devices. The mobile applications have proven to be stable and reliable during testing. I used the live chat function on several occasions and received timely responses in a few minutes each time.
I do feel slightly let down that the worldtradex demo mode is limited to 30 days, but I found that you can simply open another demo account after the first one expires. I am satisfied with worldtradex’s forex research offering, which includes a blog with regular articles and posts highlighting promising opportunities as well as general tips on trading. 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. Islamic traders will also be pleased that a swap-free account is available upon request. Quotes remain sourced from multiple liquidity providers and matched for the best possible execution.