Still, I feel that worldtradex could become a more attractive forex broker by expanding the range of tools it supports. One excellent addition would be copy trading, allowing rookie traders to mirror and learn from more experienced peers, who can earn commissions from copiers. Positives are the no minimum deposit, free demo account and excellent support, however it lacks the educational tools or social trading features provided by category leaders like eToro. worldtradex has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed. worldtradex’s non-forex asset list is less competitive, with the lack of shares a notable exclusion and very few other markets.
Execution
worldtradex operates in a regulated environment, which ensures a safe and supportive trading experience. However, for better transparency, we recommend signing up with a European entity. worldtradex broker, or FX Central Clearing, is a Forex broker from Cyprus that started in 2010. It helps professionals in the forex market trade currencies, cryptocurrencies, indices, energies, and metals using advanced technology.
Account Types
The sign-up process is also pleasingly simple and there is a swap-free solution for Muslim traders available upon request. This means that clients of worldtradex’s offshore branch won’t get the same level of protection and won’t have access to compensation schemes or trusted regulators if things go sour. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. 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.
This long-time industry favorite is starting to show its age after decades since its release, and we prefer for brokers to offer a selection of platforms with newer and slicker options, especially for beginners. Still, worldtradex has done well by providing an attractive, affordable and simple account option for day traders who will appreciate having no trading restrictions or minimum deposit requirements. Yes, worldtradex is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is considered a low-risk trading broker. While St. Vincent & the Grenadines is an offshore zone with less strict financial regulations, worldtradex is still considered safe to trade with due to its authorization by the European regulator.
This feature ensures uninterrupted trading, particularly for users running automated strategies. Honestly, I was having a lot of doubts before I started working with this brokerage company because I have not heard a lot about them. Anyway, after reading some reviews I decided to give it a shot and signed up for this company. To my surprise everything was better than I expected, I didn’t have any problems with the registration process. We have not experienced any security concerns during our many hours using the trading platform.
Range of Tradable Instruments
Another big downside is the lack of web trader compatibility, which I find convenient because it provides straightforward and fast market access. 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. Withdrawals at worldtradex are also disappointing, with all methods besides https://worldtradex.club/ cards and wire transfers incurring a percentage withdrawal fee that can reach a hefty 3.4%, depending on the method. Wire transfers incur a $30-$45 flat fee (minimum limit of $500), many times more than the $5 withdrawal fee at eToro.
- Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters.
- This is a much larger virtual bankroll than almost every other broker we’ve tested, but makes sense given the very high leverage.
- To avoid these charges, I recommend using Visa or Mastercard bank cards, as I found these do not incur a fee.
- We use dedicated people and clever technology to safeguard our platform.
- Consult relevant financial professionals in your country of residence to get personalized advice before you make any trading or investing decisions.
Although some brokers like Vantage offer a similar service with less stringent qualifying criteria, worldtradex’s VPS, combined with its excellent pricing, will appeal to high-volume traders and algo traders. Besides the very frustrating withdrawal charge, worldtradex’s non-trading fees include a $5 inactivity fee charged after 120 days of dormancy. However, not all currency pairs are as generously priced – GBP/USD trades with a 1-pip spread, which is more expensive than the average of around 0.3 pips at Fusion Markets, for example. 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. worldtradex places a strong emphasis on technological advancements to provide traders with efficient and speedy trade executions.
I am happy with the selection of fee-free funding methods accepted by worldtradex, which supports Visa/Mastercard, bank wire transfers, cryptocurrency and four e-wallets – Skrill, Neteller, EeziePay and AWEpay. This makes it easy for global traders to get started with the forex broker. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. To ensure we offer traders accurate and current information, our forex broker reviews also undergo rigorous editing and fact-checking. Our forex broker ratings are the result of a blend of quantitative data and qualitative insights gathered during the testing process.
worldtradex offers various account types for both experienced and new traders. Each account has different minimum deposits, leverage, and the number of trading instruments. All account types include features like hedging, advisors, free VPS (virtual private server), and a https://worldtradex.world/ personal manager. The diversity of financial instruments which this company offers to customers is really huge.
With a focus on transparency, competitive trading conditions, and customer satisfaction, worldtradex caters to both beginner and advanced traders. The broker offers ECN/STP execution, eliminating conflicts of interest by routing orders directly to liquidity providers. This review explores worldtradex’s features, pricing, regulation, and suitability for various types of traders. To evaluate brokers, we test the accounts, trading tools and services provided. Over 200 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process.
Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters. This makes the broker a worthwhile option for serious forex traders who will also enjoy the VPS service and MT4 support. I do feel slightly let down that the worldtradex demo mode is limited to 30 days, but I found that you can simply open another demo account after the first one expires. I am satisfied with worldtradex’s forex research offering, which includes a blog with regular articles and posts highlighting promising opportunities as well as general tips on trading. The speed of transfers varies according to the payment method used.
There are no commissions and tight spreads sourced directly from liquidity providers. While testing worldtradex, the EUR/USD was available at 0.1 pips and the EUR/GBP at 0.5 pips. The account stands out as a competitive option for traders of all experience levels.