A status program is offered where clients, based on their deposited funds, can access different levels that provide enhanced services. worldtradexFX, a globally recognized online forex broker, was established in 2011 with its headquarters in St. Vincent and the Grenadines. This diverse portfolio makes it a popular choice among retail and professional traders alike. worldtradex is an international broker that has been providing online trading services worldwide since 2011.
Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money. The account opening process at worldtradex is fully digital and can be completed within minutes via the company website. The broker offers three main account types; worldtradexFX MT4, worldtradexFX MT5, and worldtradexTrader. The score for this category was weighed down because only one base currency is available (USD) and there is no option for a raw spreads account. worldtradex excelled in the category of fees, with tight spreads in CFDs on forex and shares. It also bucks the industry trend by not charging swaps or inactivity fees.
Plus500 is a primary online trading portal providing a variety of products such as foreign exchange, shares, commodities, indices, options, and other instruments in the form of CFDs. AvaTradeGo is a trading application designed for mobile devices. It has a simple, yet effective user interface for trading various products such as currencies, stocks, and commodities.
General Information about worldtradexFX
The dashboard includes a “Monitoring” area where users can view and share their performance, charts, profits, orders, and history with others. Both the user and any interested party can access this section to see the performance of accounts that have opted for public visibility. Additionally, the worldtradex platform features a one-click trading button that cannot be removed, which poses a risk since clicking it executes trades without confirmation. Alerts and each executed order are notified through browser notifications.
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Even if a position ‘gaps’ in extreme market conditions, then the client will lose the funds in their account by no more than that. A lot of brokers consider them mutually exclusive, so only offer one, if any at all. It is clear that the Education section of worldtradex’s website is of great importance to the broker. All of the materials are of high quality and cater to beginners, intermediate and advanced traders. That worldtradex is catering to all these groups is a big plus for the site, and the resources are made available to traders using demo as well as live accounts. Crypto markets are only supported on accounts that use the MetaTrader platforms.
Great experience
The broker’s range of forex trading products is limited to MT4, MT5, and worldtradexTrader but still provides a service to every trading style thanks to the MetaTrader options. I was surprised most by the worldtradexTrader which is limited in comparison to MetaTrader but offered a unique technical analysis service which impressed me with the expertise of the analysis. As you can see from the above table all the accounts offer the same regarding trading costs, the only difference is the trading platform. If you want to trade all markets worldtradex provides, I found your only option is the MetaTrader 5 account. I think worldtradex is a solid option as it provides excellent features that I think will appeal to a variety of traders. Firstly, worldtradex uses ECN technology so you get excellent execution speeds with tight spreads of 0.90 pips and is commission-free, which is rare for ECN brokers.
Within Europe, the minimum deposit on the Worldtradex available account types of MT5 Pro is $50. The worldtradexFX MT5 pro account is one which they recommend for the more experienced traders. With that said, the minimum deposit here is still low enough for all types of trader to get involved.
This combined with high leverage options opens opportunities for optimal profitability. Keep in mind that leverage is best used by experienced traders, as there are risks involved. Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms.
Limited Range of Tradable Instruments
Its worldtradexFX.eu arm is regulated by CySec (Cyprus Securities and Exchange Commission) and has offices worldwide. The firm has a strong foothold in the Asian market through its offering an outstanding trade execution service that appeals to traders from all corners of the world. There is a strong trader focus to the platform backed by very high-quality industry-standard research and learning services coupled with a strong in-house copy trading facility. The pushback comes from the more limited number of instruments a user can trade on this platform. However, this should not detract from what worldtradexFX is, as a convenient, efficient, cost-effective trading proposition, that is attracting a number of third-party industry awards.
- They can then trade as usual and earn additional income whenever others choose to copy them.
- However, they’re not extensive enough to warrant a score higher than a three in this category.
- However, some people prefer actually speaking to someone when they have a problem, and worldtradex makes this difficult.
- In our tests for the Trust category, we also cover factors relating to stability and financial strength.
The app has been downloaded more than 5 million times, with a 4.5 star rating out of 5, which is impressive indeed. worldtradex offers a swap-free Islamic account that adheres to the principles of Sharia law. Copy and automated trading are only available on the MT5 desktop platform. The EU entity of worldtradex clearly states its regulatory status in the website’s footer.
Additionally, the broker provides promotions and bonus programs, along with 24/7 customer support, aiming to enhance the overall user experience and sustain its global presence. worldtradex is an international broker ideal for traders looking to operate under competitive conditions. It offers high leverage, a diverse range of instruments, and user-friendly trading platforms. In addition, worldtradex provides extra services to its clients, including educational content, relevant information, bonuses, and customer support, which are readily available to resolve any issues.
How can I open an account with worldtradex?
It includes Scalping, Hedging, and Automated Trading strategies. All traders are offered segregated accounts and negative balance protection by worldtradex. It’s good to see worldtradex offer MetaTrader 4 as it is one of the most recognised trading platforms for retail forex traders in Malaysia thanks to its advanced charting tools. I like that out of the box you have access to 30+ technical indicators from moving averages to Bollinger bands and 24 analytical objects making on-chart technical analysis simple. One of the best things about worldtradexFX is its promise of good currency conversion rates. This ensures that traders get the most value out of their funds when transferring money in and out of their trading accounts.
- Mobile trading apps make it even easier to access markets and potentially earn significant profits.
- The worldtradexFX mobile app is available for both iOS and Android devices.
- With trading costs being a significant determinant of success or failure, the broker is right to emphasise what a help this could be.
- If you want to trade all markets worldtradex provides, I found your only option is the MetaTrader 5 account.
You can use this information to ensure that you have enough funds in your account to cover potential losses. For those seeking a cost-efficient and transparent broker, worldtradexFX sets itself apart by prioritizing its clients’ financial interests. The Cyprus Securities and Exchange Commission (CySEC) regulates worldtradexFX.