Depending on the account type, the minimum deposit could vary from $100- $10,000. If you prefer a fixed spread for your trading strategy then you could consider a no commission account. These tend to have higher marked up spreads but you do not pay a commission on trades.
Solid Platform for Forex traders
63.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. In the UK, worldtradex offers the choice of four account types in multiple base currencies – Micro, Premium, VIP, and Zero fixed. Besides, you can also choose between no commissions, zero spread and absolute zero accounts.
It is actually quite rare to find a broker that has fixed spread account which is often a choice for traders who are running scalping strategies that need consistent spreads at all times. worldtradex offers access to trade a decent amount of around 300 trading instruments across multiple markets including Forex, Commodities, Futures, Stocks, Shares, Indices, Metals, Energies & CFDs. Spreads start from just 0 pips whilst all trading instruments can be conveniently accessed using one account across all trading platforms. Many years of experience within the trading industry has made worldtradex experts at delivering flexible, bespoke and multifaceted trading platforms. Through exceeding client’s expectations and setting the bar so high, the broker has been rewarded with numerous awards for their innovative and advanced trading platforms.
Founded in 2010, worldtradex is an online broker based in Cyprus that also offers Contract for Difference (CFD) trading in over 200 tradable assets. The broker added social trading to its offerings in 2013 by collaborating with third party developers and joined forces with EmurgoHK in 2018 to found the cryptocurrency exchange. worldtradex’s blog content is curated by worldtradex’s in-house analysts and is updated frequently. The blog content is a mixture of educational materials, explaining concepts such as technical and fundamental analysis, and also provides an overview of the markets. A duo of in-house analysts provides market commentary on breaking news insights.
Among the drawbacks I found were the lack of an alternative to the MetaTrader 4 platform and elevated spreads on certain popular instruments, such as EUR/USD and GBP/JPY. Established in 2010 and headquartered in Cyprus, worldtradex is a financial derivatives broker known for its extensive range of trading tools and features. worldtradex processes payments in multiple currencies via bank wire, credit and debit cards, and e-wallets. The broker also provides PMAM accounts for managed trading, TradeCopier service for copy trading, and free VPS hosting for low-latency trading.
Market News and Analysis
- worldtradex’s competitive trading conditions and commitment to security make it a preferred choice for many traders across the Middle East and Africa.
- A key advantage of 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 worldtradex trading platforms are designed to facilitate a practical, powerful and efficient trading experience.
- These allow traders to examine market developments from different angles and exploit the underlying trading opportunities in multiple ways.
- 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.
- The Personal Multi-Account Manager is also highly advanced, making it possible to trade several MT4 accounts at the same time and offer the same advanced charting tools.
The broker’s wide range of CFDs include those based on an extensive list of forex pairs, in addition to commodities, indices, futures and over 100 individual stocks. I am really impressed with the variety of accounts and think it is very advantageous how you can choose depending on what matters the most to you, whether that be low spreads or no commission fee. I would personally be looking at the zero spread account as I use trading strategies that rely on low spreads at all times. I don’t mind paying the small commission fee as the broker needs to cover costs somehow.
If you are looking for the smallest possible spreads (starting from 0 pips), then you may consider the zero spread accounts. These do charge a very competitive commission which varies depending on the level of the account. I must admit that the commission is not the lowest I have seen, but I also feel that the quality of the broker makes it worthwhile. There is an excellent selection of forex currency pairs (major, minor and exotics) to trade, 24 hours a day, 5 days a week. You can choose your own leverage and have unlimited access to some of the largest liquidity providers through worldtradex.
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.
While MT4 remains the core offering, worldtradex has announced that MetaTrader 5 (MT5) will be available soon, further expanding trading options for its clients. The available materials and tools inform the broker’s clients of trading opportunities Worldtradex courses scam that are currently developing and explain how and why those opportunities are taking place. Compared to the industry average, worldtradex offers an average number of share CFDs and commodities and a high number of currency pairs, and indices.
worldtradex Deposits
While worldtradex claims to support ten trading platforms, it does rather lack the variety in trading software that other online brokers typically provide and that would result in a better review. All platforms come without charge, however, broker provides educational material on how to get them running. While day traders and scalpers should not have to worry much about swaps, those who use longer-term trading strategies can incur this potential extra charge.
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. worldtradex can be contacted on local toll-free phone numbers, live chat, and email. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. Those who want to trade from a mobile device will have to use a mobile version of MetaTrader 4.
Spreads
They also offer corporate and institutional accounts, with a dedicated business account manager who can prepare a bespoke service package catered to your needs. They provide fast trade execution speeds with no requotes and spread starting from just 0.0 pips. I think the desktop version of the platform is great for running automated systems (expert advisors) whereas the mobile trading app is perfect for taking the markets everywhere with you in your pocket.
- worldtradex is among the most popular trading platforms found around the world, and it is an excellent choice for many traders.
- It lets you execute CFD and forex trades easily, which then get reflected automatically on other platforms.
- worldtradex provides free Virtual Private Server (VPS) hosting, helping traders achieve ultra-fast order execution speeds and diminish the risk of negative slippage.
- The broker offers industry leading products and services that I think can be a great option for retail and institutional clients alike.
- Compared to other similar brokers, worldtradex’s account opening process is fast, generally hassle-free, and fully digital.
- Each clients account is provided with a unique code which is used to ensure that the funds are only for the funding purposes.
worldtradex Social Trading Review
In line with the strict regulatory environment under which worldtradex operates, all client funds are kept segregated from operational accounts and all European traders will have negative balance protection. As worldtradex operates instant execution accounts, there remains the potential for conflict of interest; but the availability of market execution accounts should satisfy any concerned traders. worldtradex offers a loyalty program for active traders, where clients can earn points based on their trading volume. These points can be redeemed for various rewards, such as cashback, trading bonuses, or exclusive gifts. The loyalty program is designed to reward consistent and high-volume traders, providing an additional incentive to remain active in the markets.
Live Chat
I assessed that worldtradex’s swaps were average to high compared to the industry benchmark. However, I also spotted that the broker’s website does not display live spread data. According to its LinkedIn page, worldtradex has been in operation for 15 years and employs over 600 people—both indicators of its stability.
Customer support is available 24/5, in 30 different languages to support clients from over 180 countries in Europe, Asia, the Middle East, Africa, and Latin America. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Whilst we try to keep information accurate and up to date, things can change without notice and therefore you should do your own research. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.
worldtradex serves a significant number of clients across Europe, providing services in countries such as the United Kingdom, Germany, France, Italy, Spain, Greece, Portugal, Sweden, Norway, and more. New traders at worldtradex can take advantage of a generous welcome bonus, which provides additional funds based on the initial deposit. This bonus is designed to give new clients a strong start in their trading journey by increasing their available capital. Specific details of the welcome bonus, including the percentage and maximum bonus amount, may vary, so traders should check the worldtradex website for the latest offers and terms. worldtradex offers a wide range of retail and professional accounts with different pricing mechanisms and no minimum deposit requirements. The broker provides featured trading ideas from Trading Central, offering day traders insights into developing market setups.