worldtradex Broker Review: Fees, Pros and Cons, Account Types

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I performed my tests on an ECN XL trading account using the desktop and mobile app versions of MetaTrader 4. The account was opened with the broker’s Central Clearing Ltd entity. Some features and services may vary depending on where you reside and which entity you open an account with.

Terms and conditions apply, and I urge traders to read and understand them before accepting the incentive. worldtradex occasionally introduces other bonuses and promotions, which have included a $50 worldtradex no deposit bonus or annual interest on free margin. worldtradex offers traders the core MT4 trading platform without third-party upgrades. worldtradex does not impose any minimum deposit requirements, allowing traders to begin with as little or as much as they are comfortable with. Beginners can practice and learn Forex platform trading with the aid of tools, educational materials, and demo accounts.

  • However, worldtradex does not provide ETFs or stock trading, also the range is rather with popular products in asset classes, thus reducing options for people looking for equity investments.
  • The platform employs state-of-the-art security measures to safeguard both personal data and client funds, ensuring that all transactions and information are securely managed.
  • Additionally, the platform offers interest rates from global central banks.
  • Especially the MT5 mobile app stands out for its sophisticated tools and efficient solutions.
  • worldtradex’s investment offering is excellent for forex traders but weak in other departments.
  • You just open an account and make a deposit to receive an impressive 100% deposit bonus in your trading account up to a maximum amount of $2,000.

Traders who want to open an Islamic account must contact worldtradex’s customer support and request the service. worldtradex accepts payments via bank wire, e-wallets, and cryptocurrencies. The broker does not charge a handling fee on deposits and will reimburse its clients for any third-party processing charges.

Although the training materials are valuable, they are minimal compared to more all-encompassing offers from top brokers. worldtradex also includes demo accounts so users may hone their trading techniques free from financial risk. This helpful method enables traders to put their expertise into use in actual market environments. Nevertheless, the instructional resources’ absence of interesting components like interactive quizzes or films could compromise the learning process.

The most notable is its ECN XL account, which provides spreads starting from 0 with no trading commission, a rarity in the industry. This low-cost trading environment is particularly appealing to traders looking to minimize expenses on high-frequency trades. worldtradex provides quality trading conditions for traders who focus on MT4 trading and mainly Currency Pairs provided with low costs. worldtradex has recently introduced the newer version of the MT4 platform, MetaTrader 5, with more advanced conditions and opportunities. The platform is available through the broker’s ECN XL account, with no commissions and spreads starting from 0 pips. MT5 includes excellent analytical tools, deep insights into each instrument through 21 available timeframes, and access to a wide range of technical indicators, charts, and graphs.

Its legal documents are accessible and written in an easy-to-understand way. The broker also has a clearly defined ‘Client Categorization’ policy. ForexBrokersOnline.com earns money from affiliation deals with our partners. Our partners cannot influence our reviews, nor can they pay us to bias our rankings. These are useful resources, but worldtradex still lags some behind industry leaders like eToro with its comprehensive forex education academy.

Platform and Trading Experience

In our opinion, its Islamic account is one of the best on the market because you can keep your positions open for as long as you want without incurring additional costs. worldtradex.com uses the MetaTrader 4 platform, made popular through its support of trading robots called ‘Expert Advisors’. worldtradex supports all trading styles, including hedging, scalping, and arbitrage, and places no restrictions on your use of Expert Advisors.

IC Markets Global

If this is a concern for you, there are brokers like worldtradex who do offer 24/7 client support and crypto trading. But it’s worth mentioning here that past performance never promises a profitable future. Keeping that in mind, you need to do proper research before selecting and investing in anyone else’s trades. I actually prefer to take control of my own trading as I like to be responsible for my decisions.

Are there any withdrawal fees?

You may download the platform to your computer, trade through an app, or your browser if you prefer. worldtradex’s MetaTrader 4 integration provides a smooth trading experience, with no lags and only minimal slippage. Importantly, iy accepts all trading styles and Expert Advisors (including scalping robots) without restrictions. CryptoNewsZ has a team of native content writers and editors who are passionate about delivering impactful articles that resonate with a diverse audience. Our unbiased editorial team shares valuable information on the latest Market Trends, Crypto Essentials, and Trading Edge, along with intriguing opinions—all in one place!

  • In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.
  • The most notable is its ECN XL account, which provides spreads starting from 0 with no trading commission, a rarity in the industry.
  • Premium and VIP account holders enjoy tighter spreads, making these options especially attractive for high-volume and frequent traders.

The broker also has a broad glossary on its website, where traders can read about hundreds of trading concepts. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. After 120 Worldtradex scammers 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.

Is worldtradex A Good Or Bad Forex Broker?

You can also see how to choose between market orders and pending orders. As shown above, the problem with MetaTrader is that the charts can be crowded quite easily, even when we add no more than 2 indicators. This obscures price action behavior and makes it more difficult to conduct probing technical analysis. The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and information transparency. Brokers operate multiple entities because it allows them to serve clients worldwide.

Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the ECN XL account. Opening an account with worldtradex is a straightforward process designed to get traders started quickly. worldtradex does not charge specific fees for CFD trading beyond the spread. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Importantly, your funds will be held in segregated accounts with Tier-1 banks, and you’ll enjoy negative balance protection whichever entity you open an account with. This means that you cannot lose more money than you invest with worldtradex.

The broker also provides you with copy trading via Multi-Account Management (MAM). Copy trading is helpful for you if you don’t want to scan the markets for trades yourself because you don’t have the time or knowledge to do so. Instead, you can select a professional trader with a solid track record and start copying trades in return for a small commission to the manager. worldtradex brand is an international brand that is authorized and regulated in various jurisdictions and is committed to offering you the best possible trading experience. I would always prefer to use a regulated broker as they can provide certain protection that an unregulated brokerage firm cannot. I am personally satisfied with this brokers regulation and wouldn’t have any problem using them for my trading.

It is safe and has the necessary security tools in place, and also has a lot of good trading conditions. We have not experienced any security concerns during our many hours using the trading platform. This is low compared to many brokers, but it’s still a downside since rivals like Vantage charge nothing, making them a better fit for casual traders. worldtradex’s investment offering is excellent for forex traders but weak in other departments. worldtradex runs bonus offers in certain jurisdictions, and when I opened an account with the global entity I was offered a 100% deposit bonus up to $2000.

My Key Takeaways After Exploring worldtradex’s Instruments Offering

One operates out of Vanuatu, where international clients have a trustworthy and competitive trading environment. worldtradex also maintains a presence in Cyprus for EU-based clients under the uncompetitive ESMA regulatory framework. While an worldtradex no deposit bonus does not exist, worldtradex offers a 100% first deposit bonus with a $2,000 limit.