Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand. Although worldtradex lacks a proprietary trading platform and its Bermuda-based entity operates without regulation, I rate worldtradex as a decent broker that caters to the https://worldtradex.club/ needs of its clients. worldtradex has an excellent reputation and is one of the industry leaders in the world of forex trading.
Trading Conditions
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. Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. worldtradex holds a “Trusted” rating with a trust score of 83 according to ForexBrokers.com, indicating a reliable level of trustworthiness in the industry. Each idea underscores a currently unfolding trading setup – a bullish or bearish pattern, such as the ‘Engulfing Line (Bullish)’ shown below.
Is worldtradex regulated?
All content on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalized advice before you make any trading or investing decisions. DayTrading.com may receive compensation from the brands or services mentioned on this website. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. Trading according to the market analysis has really helped me increase my profit, for sure worldtradex is really the main deal!!
How long does it take to withdraw money from worldtradex?
worldtradex offers a variety of commodities for trading, including precious metals, energy products, and agricultural goods. Popular choices include gold, silver, crude oil, natural gas, and coffee. Trading commodities can provide traders with opportunities to hedge against inflation or take advantage of global economic trends.
The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. They could improve by adding some crypto payment options but that is not really a deal breaker from my perspective. The broker provides you with top class global customer support in over 30 different languages.
The MT4 Advanced platform will be the choice of advanced traders who want these enhanced charting tools, which include the built-in EA ability, automated strategies, live monitors, and more. 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. Today, worldtradex has more than 10 trading platforms for traders to utilize, more than 200 tradable instruments, and serves customers in more than 180 countries with support in more than 30 languages. worldtradex provides 24/5 support, email, and live chat for prospective and existing clients in over 180 countries and in 30 different languages, and in chat was responsive during several contact attempts. A comprehensive FAQ addresses most inquiries while tutorials on trading platforms shorten relatively steep learning curves. Email address and phone numbers are provided for satellite offices in https://worldtradex.world/ Cyprus, South Africa, and Australia, allowing local contact.
And Ireland clients can also place spread bets, although the costs are not fully disclosed. worldtradex offers Metatrader 4 and 5 but no dedicated or proprietary trading platform. They do offer a Mirror account, but that’s a hedging tool, not a social trading interface.
Each client is treated with the upmost esteem and as a valued partner. The broker also offers downloadable e-books that serve as comprehensive guides to forex and CFD trading. These e-books cover a wide range of topics, from understanding market mechanics to developing effective trading strategies. Traders can download these resources and refer to them at their convenience, building a strong foundation in trading knowledge at their own pace. worldtradex regularly organizes trading contests and competitions with lucrative prizes, including cash rewards, luxury trips, and high-end gadgets. These contests are open to traders of all experience levels and provide a fun and competitive way to showcase trading skills.
He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. While it provides essential functionalities for trading on the go, it does not excel in this area compared to its competitors. You can use the filters of the calendar to search for events depending on their expected market impact.
- I did as I was told and sent an email to the address that the agent provided.
- The average spread cost for the EUR/USD pair is 1.2, slightly above the industry average of 1.08.
- The “Intraday Comment” section had a single 18-month old entry about the Eurozone.
- worldtradex incorporates MetaTrader 4, which is quite popular among beginners for its simplistic design though I find it outclassed by newer and more user-friendly platforms.
If you are new to trading online, then you will be pleased to find a demo account option. This can be the perfect way to get used to using the platforms and for testing your trading strategies in a risk-free environment. This is not something exclusive to this broker, you will find most have a demo account available. worldtradex’s glossary of trading terms is an essential resource for new traders who need to familiarize themselves with industry jargon.
Also, withdrawals from accounts on which there have been no executed trades are liable for a 20% transaction fee charged by worldtradex. worldtradex provides quite a few deposit methods, while withdrawals are sent only via bank wire. Payments are processed fairly quickly, and traders can use multiple currencies.
What can I trade at worldtradex?
Our team were also pleased to see that the broker offers negative balance protection, meaning traders cannot lose more than their account balance. Also, the broker charges a sizeable 3% of deposited funds when withdrawals are requested during periods of inactivity. Broker research materials have been neglected, generating the biggest black mark in our review.
You can choose your own leverage and have unlimited access to some of the largest liquidity providers through worldtradex. The broker also plans to introduce MetaTrader 5 (MT5) in the near future. 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. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
What I found particularly useful is that it states for how long the idea can be applied before the underlying opportunity expires. Agent’s answers were prompt, for the most part, though at times, it was hard to understand her. Eventually, I was advised to refer to a different support department to receive additional clarification. I did as I was told and sent an email to the address that the agent provided. Those who want to trade from a mobile device will have to use a mobile version of MetaTrader 4. It is theoretically possible to use the WebTrader on a mobile device, but not recommended.
