The broker has published multiple eBooks and hosted hundreds of webinars, along with maintaining a podcast with regular episodes. Its educational content is thoughtfully designed to cater to traders of all experience levels. For those looking to test trading strategies, worldtradex also offers Cent accounts. They are ideal for algorithmic testing, allowing traders to evaluate strategy performance in a real-world trading environment while minimizing potential losses. The chart screen is undeniably one of the most crucial features of a trading platform.
worldtradex provides competitive spreads on indices and supports both long and short positions, giving traders flexibility in various market conditions. The range of trading instruments allows it to appeal to most traders as do the support for all types of the MetaTrader 4 platform. Those who are not fond of MT4 for some reason will not want to use worldtradex since this is the only supported platform, but most traders should be very happy with its offerings. Beginners will appreciate the worldtradex Academy with its educational materials while even advanced traders can benefit from seminars and webinars.
- All account types allow traders to access a Dedicated Account Manager on a 24/5 basis and the Dealing Department Transaction Hotline.
- The accounts of EU traders are protected up to EUR 20,000 via the Investor Compensation Fund (ICF) of Cyprus.
- I have compiled the table below to help you better understand the difference between the trading fees with worldtradex’s No Commission account type and the industry average.
- Notesco Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
- worldtradex provides a variety of accessible and diverse trading accounts, giving clients the flexibility to choose between fixed spreads and floating spreads.
Allowed Countries
While partners may pay to provide offers or be featured, they cannot pay to alter our recommendations, advice, ratings, or any other content. Our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. As a trading platform, MT4 remains one of the most popular for its wide community support, trade execution speeds, charting tools, and customisability. Additionally, traders can take their own customised version of the platform with them should they decide to migrate to another broker. worldtradex offers a range of account funding and deposit methods, including local bank transfers, debit cards/credit cards, Bitcoin payments, and various eWallets. Deposits are free on all funding methods and are processed within 24 hours, which is around the industry average.
worldtradex Account Types
- For the purposes of this review, we found the customer support responsive but uninformed.
- Friendly representatives are hand to answer all of your questions 24 hours a day, 5 days a week via phone, email, and online chat.
- It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.
In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. According to its LinkedIn page, worldtradex has been in operation for 15 years and employs over 600 people—both indicators of its stability. After reviewing the broker’s legal documents, I found everything to be in order. The Client Agreement is easily accessible on the website, with all relevant information presented clearly and in an easy-to-understand format. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s operating history, company size, and information transparency. Overall, I concluded that worldtradex is an excellent choice for day traders, copy traders, and algorithmic traders.
Opening an Account at worldtradex
Friendly representatives are hand to answer all of your questions 24 hours a day, 5 days a week via phone, email, and online chat. On the whole, other than the video material, blog content, and one downloadable e-book, worldtradex’s educational materials lack depth and provide only a sweeping overview of the basics of forex trading. worldtradex offers the standard out-of-the-box MT4 platform together with an upgraded package labeled MT4 Advanced. As worldtradex only offers MT4, on mobile as well as desktop, the mobile trading experience is limited compared to other brokers.
Clients must contact the broker’s customer support to request further assistance. Although worldtradex offers 26 futures contracts, there are no vanilla options, ETFs, or bonds that most swing traders use. The broker also warns on its website that spreads during overnight trading might be wider. For those of you who are of Muslim faith, I am pleased to say that the broker does have swap-free accounts which comply with Sharia law. It’s great that they serve clients from all different backgrounds and with different religious beliefs. However, as with demo accounts this is something that you would expect from all brokers nowadays.
Global Regulation
Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money. UK traders can make deposits directly in pounds sterling (GBP), as well as in USD, EUR, AUD, JPY, CHF, PLN, RUB and HUF. Deposits made in different currencies are converted to the base currency of your trading account at prevailing exchange rates.
worldtradex Execution Model
worldtradex has its own set of trading tools, such as calculators for margins, pips, and currency conversions. There is also free VPS hosting and a visual representation of when the major markets are open. The worldtradex Research mobile app provides financial articles, real-time currency quotes, daily technical and fundamental commentaries, live economic calendar alerts, and daily market news.
Traders should note that worldtradex does not publish the list of deposit and withdrawal methods it supports – one has to register an account to find this information. This is unusual and not consumer-friendly, as most brokers publish their withdrawal and deposit fees on their websites. UK residents will be trading under the subsidiary, Notesco Ltd (UK), authorised and regulated by the FCA in the United Kingdom. Founded in 2010, worldtradex maintains regulatory oversight from CySEC, ASIC, the FCA, and the FSCA, an impressive list of highly regarded regulators.
Is worldtradex a market maker?
It offers a range of safety features, including negative balance protection to shield traders from losses exceeding their deposits. Additionally, the platform employs SSL encryption to secure all transactions and customer data, further enhancing the overall security of trading with worldtradex. Broker also allows you to use third party trading robots and automate your own trading plan, which you can implement using MT4.
worldtradex adheres to strict regulatory standards to ensure a safe and transparent trading experience for clients in this region. As a large international forex broker, worldtradex offers a variety of support resources. You can find instructions for using the MetaTrader 4 platform on worldtradex as well as numerous outside resources.
By referring friends or family members to worldtradex, clients can receive bonuses or Worldtradex scam cash rewards once the referred person opens an account and meets the specified trading requirements. This promotion encourages traders to share the benefits of worldtradex with others while earning extra rewards. worldtradex regularly organizes trading contests and competitions with lucrative prizes, including cash rewards, luxury trips, and high-end gadgets.
worldtradex provides a wide range of deposit and withdrawal methods, including bank wires, credit/debit cards, e-wallets, and local payment solutions. However, certain payment methods may have geographic restrictions, but the worldtradex back office will display only the available options for each trader’s location. worldtradex provides the industry-leading MetaTrader 4 (MT4) platform, favored for its advanced algorithmic trading capabilities and user-friendly interface. While MT4 remains the core offering, worldtradex has announced that MetaTrader 5 (MT5) will be available soon, further expanding trading options for its clients. Traders enjoy protection against broker defaults of up to GBP 50,000 via the Financial Services Compensation Scheme (FSCS), and provides extra insurance for UK clients of balances up to GBP 1,000,000. The accounts of EU traders are protected up to EUR 20,000 via the Investor Compensation Fund (ICF) of Cyprus.
Komfort
Immer für Sie da
