Like most brokers, Worldtradex charges swap fees for long and short positions that remain open overnight. However, the broker offers a swap-free account option for Islamic traders who want to trade but cannot earn or pay interest due to their religious beliefs. The broker provides various financial instruments, including forex, metals, futures, commodities, shares, and indices.
In my opinion, MT4 is best suited for automated trading via Expert Advisors (EAs). Worldtradex incorporates the standard suite of MetaTrader 4 available for desktop, web, and mobile trading. It can be used for automated trading via EAs, basic technical analysis, and simple order execution. Regardless of whether you trade forex or other financial instruments, Worldtradex equips you with the tools you need to make informed decisions and succeed in your trading activities. The leverage level can be adjusted to suit the specific requirements of traders, allowing them to take control of their trading strategies. For instance, a forex trader with $250 in their account can take a position worth up to $250,000 through leveraging.
Supported trading platforms
Worldtradex does not accept as clients residents of the United States, Cuba, Iran, Sudan, Syria, North Korea, or any jurisdiction where trading with leveraged products is prohibited by law. However, the website has a dedicated FAQ section for general queries. Agents respond within seconds to live chats and are generally knowledgeable. You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades.
Worldtradex Fee Structure (Commission and Spread)
As a trader who prioritizes flexible charts that are easily scalable, I find MT4’s charting capability too rigid and less effective. Worldtradex’s MT4 platform is available on Windows and Mac and supports 52 languages, including English, French, Spanish, German, Arabic, Chinese, and more. After 12 calendar months of account inactivity, the broker charges a yearly inactivity fee of $50. My live testing indicates that Worldtradex’s swaps are average to high compared to the industry benchmark. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and information transparency. TradingFinder.com assumes no responsibility for any potential losses or damages.
No matter which account you choose, you’ll have access to over 300 tradable instruments across six asset classes. Plus, you’ll be trading on the industry-leading MetaTrader 4 platform, known for its fast execution and robust features. Worldtradex offers a demo account that introduces traders to the broker’s services and allows them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment.
- For withdrawals and deposits, Worldtradex does not charge any extra fees for using their payment gateways.
- These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
- For Standard accounts, Worldtradex’s commissions are part of the floating spread, which varies with market conditions.
- For over 10 years we consider our independence, absolute openness, and objectivity as our main priority.
- The broker supports MetaTrader 4 and has developed the TradeCopier service for copy trading.
- The Client Agreement is readily available, and all relevant information is presented clearly.
Customer Support Channels
All Worldtradex account types are commission-free, with trading costs based solely on floating spreads, which start from 1.1 pips. Worldtradex offers the TradeCopier platform for both professionals and amateur traders. If you’re confident in your trading skills, become a strategy provider and let others copy your trade and earn up to 40% performance fees.
While the content is particularly useful for day traders, it also provides insights into broader and long-term market trends. Although I recorded extremely favorable spreads on Bitcoin, Worldtradex’s spreads on other popular instruments exceeded the industry average during my tests. To balance this, the broker charges a low inactivity fee and does not impose fees on deposits or withdrawals.
Comparison of Worldtradex with other Brokers
Forex traders can trust Worldtradex’s Worldtradex forex brokers reviews platform for safe and secure trading. We also evaluated whether Worldtradex offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality. We have compared the range of assets and markets supported by Worldtradex with its competitors, making it easier for you to find the perfect fit. In adition to trading services and tools that I can use for trading, broker has a lot of analytical resources that I use for analytics. These revenue streams allow us to remain financially independent of advertisers, enabling us to provide all services with maximum transparency.
The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes. The brokerage company supports automated trading through Expert Advisors on MT4. Overall, I found Worldtradex to be a suitable option for day traders, cryptocurrency traders, and those interested in copy trading. I found the materials to be well-structured and highly detailed, exploring fundamental trading concepts from multiple perspectives. This layered approach provides learners with a comprehensive and well-rounded understanding of essential trading principles. A key advantage of https://worldtradex.biz/ trading CFDs is the ability to enter and exit the market almost instantly, enabling traders to capitalize on even minor price fluctuations in the derivative.
- The broker provides various financial instruments, including forex, metals, futures, commodities, shares, and indices.
- While the content is particularly useful for day traders, it also provides insights into broader and long-term market trends.
- I tested the desktop version of the MetaTrader 4 platform, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool.
- We compared Worldtradex with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
- Although third-party plugin support is lacking, users can access over 25,000 custom indicators for MT4.
How do I open an account with Worldtradex?
It’s important to note that leverage in trading acts as a double-edged sword, enabling traders to potentially magnify their profits if the market moves in their favor. However, leverage also magnifies losses if the market moves against them. For withdrawals and deposits, Worldtradex does not charge any extra fees for using their payment gateways. However, clients might need to pay third-party charges depending on their payment method. Worldtradex provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
Worldtradex is regulated and authorized by the Seychelles Financial Services Authority (FSA) which ensures that Worldtradex complies with all applicable laws and regulations. Client funds are kept in segregated accounts in top-tier banks, and the broker also implements the latest encryption technology to protect clients’ personal and financial data. Worldtradex supports mobile trading, offering dedicated apps for both iOS and Android.
What are Worldtradex base account currencies?
Past results are no guarantee of future success, so make your financial and investment decisions with utmost care. Yes, Worldtradex offers multiple promotions, such as a 100% Supercharger Bonus, 40% Takeoff Bonus, and a 20% Welcome Reward, with maximum payouts up to $4,000. Worldtradex is a Seychelles-based Forex and CFD broker established in 2018. It operates under the brand name of Tradeco Limited and is licensed by the FSA (Financial Services Authority of Seychelles). Note that withdrawals can be made only using the same method used to fund the account.
Worldtradex’s top priority is to ensure security and reliability for their clients as well as offering round-the-clock customer service for quick resolution of traders’ queries. In addition, Worldtradex charges swap fees if the positions remain open overnight. When you deposit into your account, you can receive up to 40% in bonus funds. Note, this bonus is NOT available to EU, USA, Iran, Cuba, Sudan, Syria, and North Korea. Worldtradex has a safety score of 4.2/10, which corresponds to a Low security level.
Additionally, the broker does not provide Virtual Private Server (VPS) hosting for low-latency trading and charges average-to-high spreads on popular instruments. Worldtradex supports MetaTrader 4’s standard suite and offers various copy trading solutions. It also provides quality research and educational content, catering to the needs of beginners and seasoned traders. The Privilege account offers all the features of Standard and Premium accounts. The main difference is in the spreads, with an average spread of 1.1 pips. Compared to other brokers, Worldtradex offers relatively higher leverage than other brokers.
The customer support team at Worldtradex is available 24/5, offering multilingual support. They provide traders with assistance when it comes to trading accounts, deposits, withdrawals, and more. Their customer team is knowledgeable and friendly and always willing to help traders with any issues they may have.
Worldtradex offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution. Worldtradex provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards.