worldtradexFX’s extensive range of trading instruments, combined with flexible leverage options and competitive spreads, caters to both novice and experienced traders. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Dear Puthi Edgar Mashomane,Thank you so much for taking the time to share your thoughts with us!
They only have a Category I license under which they can acts as an intermediary only. You can use BTC, ETH, LTC, DOGE & USDT as your payment method for both side. Overall, the spreads at worldtradex are considered quite low & there is no extra commission charged. Crypto is the slowest to deposit with 3-30 minutes which is still extremely fast in my books as some brokers can take 24 hours to credit your account. I’d like to have seen an option for bank transfers as I feel most secure about this process.
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This makes it an attractive choice for traders looking to maximize their profits without worrying about hidden fees. worldtradexFX provides floating spreads, with the average spread starting as low as 0.06 pips. This ultra-tight spread makes worldtradexFX stand out, especially for traders who prioritize cost efficiency.
Trading Platforms: 4/5
In comparison, MT5 features built-in tools for a deeper technical analysis and professional trading experience. The platform also provides hourly market analysis, training materials, and risk management tools, making it ideal for both novice and experienced traders. It is also famous for efficient and friendly customer support, fast withdrawals of money, and a secure trading platform that fits mobile trading. With features like advanced charting tools, educational resources, and 24/7 customer support, JustMarkets aims to provide a comprehensive trading experience.
Non-Trading Fees
- In this worldtradexFX review, you will find everything you need to know on the key areas of the broker like spreads, account types, and security.
- Returning to worldtradex’s penchant for emerging markets, this number reflects their niche focus.
- Since entering a very competitive market eight years ago, it has built up a client base of almost one million traders and won a host of industry awards.
- To keep your prize lots active, you must trade at least once every 30 days.
- In ZAR this is ≈ R480 if you are using bank transfer to add funds to your account.
worldtradexFX operates under several regulatory authorities to ensure that traders are protected. The broker’s primary regulation is provided by entities in reputable jurisdictions, ensuring that their services adhere to high standards of safety and fairness. Our over 15 years of experience in financial markets and high technical knowledge aid in precise and timely identifications. Our independence from brokers and the companies we introduce, our commitment to maximum transparency, and our extensive experience in financial markets contribute to our ranking criteria. We didn’t give worldtradex a high score for customer service for one simple reason.
Account security — in line with the guidelines provided by the better regulators, worldtradex keeps client funds in segregated accounts. Electronic access and communication is also protected by a ‘SSL-secured Personal Area’, which has 128-bit encryption, and makes your browsing safe and your data inaccessible to any third parties. worldtradex gives high priority to the ‘Analysis and Education’ section of its site. The ‘Forex Basics/Technical Analysis’ library, for example, contains a step-by-step guide to support traders that are getting into trading. This guide ranges from a glossary of the basics to videos on the important question of which time frame to adopt. Platform choice ultimately comes down to personal preference, but worldtradex has signalled its intent by offering its clients the choice of two market-leading platforms.
Deposits and Withdrawals
The worldtradex App provides a full range of functionality for users on both Android and iOS. Moreover, the app is meant to improve the overall banking experience; there is speed and convenience without compromising on safety. While its interface might seem slightly dated compared to newer platforms, its extensive customization options, large community, and reliable performance make it a strong contender.
With this account, worldtradex does not charge you any commission on the trade, only fees is their spread. Yes, worldtradex is legal and regulated across multiple jurisdictions covering the EU and Asia. For the EU, it is regulated by CySEC which is a Tier-1 authority and for the rest of the world you Worldtradex scammers will be regulated by MAS or MISA. By being regulated across multiple jurisdictions it allows worldtradex to provide retail financial services to traders across 180 countries. As for education, I found worldtradex provides a consistent stream of webinars with professional traders through a live trading session aimed at all levels.
Investing in financial instruments, commodities, and other assets carries inherent risks, and there is a possibility that you may lose your entire investment. It is essential to be fully aware of these risks before engaging in any trading activity. With 24/7 availability, multilingual support, and comprehensive resources, worldtradexFX ensures traders receive the guidance and help they need at any time. Its compliance with international standards demonstrates its commitment to maintaining financial integrity and customer trust.
Various drawing tools, from trend lines to Fibonacci retracements, are also available. MetaTrader is also popular due to its copy trading and automated trading features. worldtradex does not currently charge swap fees – the charge for holding leveraged positions overnight. Trading costs such as spreads are clearly explained on the Spreads and Conditions page. To read the fine print, traders can find the Customer Agreement in the footer of the website.
- The firm has a strong foothold in the Asian market through its offering an outstanding trade execution service that appeals to traders from all corners of the world.
- For example, when we attempted to close 0.3 lots from a position of 0.5 lots, the entire 0.5 lots were closed, and a new position of 0.2 lots was opened instead.
- The worldtradex technical environment is monitored 24/7 by a dedicated team of highly professional security engineers and technical specialists.
- Another program offered by worldtradex is a tiered loyalty program (without fees), where traders advance through categories based on their account balance, gaining access to benefits and rewards.
- At FXStreet, we aim to provide our readers an honest and impartial look at certain brokers that you might be interested in trying.
- With 24/7 availability, multilingual support, and comprehensive resources, worldtradexFX ensures traders receive the guidance and help they need at any time.
He is an expert in Compliance and Security Policies for consumer protection in this sector. Filippo’s goal with InvestinGoal is to bring clarity to the world of providers and financial product offerings. Forex pairs, metals, indices, energies and cryptos are all available, but traders looking for single stock names will be disappointed. With less than 100 instruments on offer, there is no space for the more complex instruments such as options found in the quieter corners of the financial markets. The fact that worldtradex offers an almost institutional-grade trading experience doesn’t mean beginner traders are in any way disadvantaged.
worldtradex also provides platform tutorial videos, which cover getting started with MetaTrader, using your personal account area, and copy trading. Over a week-long testing period, I probed customer support with dozens of inquiries, ranging from available tools to fees and questions relating to the security of client accounts. I was surprised at how fast the responses were, and the agents went the extra mile to provide the information I sought. We performed our tests with a live account, using the MetaTrader 5 and worldtradexTrader platforms, opened with the worldtradexFX Saint Lucia entity (worldtradex Markets Inc.). Some features and services may vary depending on where you reside.
The variable spreads start from 0.2 – 0.4 pips with a commission already rolled in and no other mark-up to worry about on your MT4 Micro, or MT5 Pro Account. You will also find fixed spreads available on the MT4 Micro account that start from 2 pips. These two minor points do not detract from the trading experience, and worldtradex can be congratulated for so effectively shaking up the broker space. There is no extra verification required, and once a client’s separate wallet is set up, it’s easy to hook up to the signals of other traders. It’s possible to access the worldtradex services while on the move by using the worldtradexTrader app, MetaTrader app or through internet browsers. worldtradex is as confident about its financing costs as it is its execution fees.
The service provides tutorials, which explain how this is done and primes traders to run a cBot and use the free algorithms made available to them. This section of the site is well supported by the Customer Services and the Education sections of the site. There is also a dedicated VPS (Virtual Private Server) for ‘algo’ traders. worldtradex excels in research, offering regularly updated commentary written by in-house analysts and trading ideas. In addition, clients can utilize research from third-party provider AutoChartist. I rate worldtradex as better than the industry average in this category.
Flexibility can also be found in the wide range of account options. For example, the Micro Account is good for beginners, with zero commissions and super low minimum deposits. Advanced traders will lean more heavily toward the ECN account with tight spreads and direct market access. A standout feature of FBS is its user-friendly platform that appeals to beginning investors. There’s a very small learning curve with the brokers, which is something we love. Clients will also find good market analysis tools with FBS, which is key for making informed decisions.