The deposit options with worldtradex are decent, giving you multiple ways to fund your account with no deposit fees. The only traditional method available was Mastercard (debit card) which I used to fund my account and was instantly applied to my trading account after making my deposit. With worldtradex being an ECN broker, I found MetaTrader 5 can https://worldtradex.site/ utilise its advanced features like depth of markets tool for you to analyse market order flow. This is a great tool if you scalp or day trade as you can use the data to find hidden support or resistance while helping you spot breakout trading opportunities.
Another decent addition I found on MT5 is the native economic calendar which shows the times of upcoming economic announcements that can impact your trades. I like that it updates in real-time and displays on your charts which I found useful to avoid opening trades during high-impact announcements like US GDP or Non-farm Payrolls. The platform also has 38+ indicators featuring Ichimoku and RSI, while increasing the number of timeframes to 21 for better customisation. Additionally, you have excellent drawing tools for price action analysis like Fibonacci or Gann tools which I couldn’t find on the worldtradexTrader platform. I find MT4 makes it easy to customise your charts with 9-time frames from day to tick charts and 3 chart types including bar, candlestick and line. This lets you adapt your charts depending on your strategy, whether you use multi-time frame analysis or are a scalper with tick charts you’ll find it easy to switch on MT4.
The floating spreads can start from 0 pips depending on your account type. The deposit methods available to you when trading with worldtradexFX will depend on where you live, but wire transfers, major credit/debit cards, and eWallets such as Skrill are typically available worldwide. This account type is a great starter account, though at the moment is not available to EU traders. Here are a few of the worldtradexFX account types you can look forward to trading with once you get started. We can say with confidence then, if you like trading with an ECN broker and are looking for a fast, low-spread environment, worldtradexFX would be a top choice.
- worldtradex received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
- All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team.
- There may also be a fixed exchange rate in place to benefit you as a trader depending on location.
- If you want to expand your research, and evaluate some options similar to this broker, you can consult the alternatives to worldtradexFX.
Should You Accept the Bonus? 🤨
worldtradex processes more than $9 billion in monthly trading volume and has executed over 920 million trades since its inception, according to company data. These substantial operational metrics match the broker’s strong positioning in search visibility. worldtradex scored highly in my trust test with 12 years of industry experience and licences from CySEC, MSC, and MISA delivers a secure and transparent forex broker. I think the broker’s trust is supported by its 60+ awards from the forex industry and 8,000+ positive TrustPilot reviews demonstrating that its clients are happy with its operations. worldtradexTrader is the most basic option but best for beginners out of the three platforms in my opinion with an attractive user interface. In particular, it has a Pattern tool that lets you apply a variety of technical analysis on your charts automatically which is useful if you are new to forex trading.
Adding additional regulatory licenses in Tier-1 jurisdictions would be a step toward winning more client trust. worldtradex offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if worldtradex wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education. From among the trading systems known as “Master Traders” to copy on worldtradex’s Copytrading app, there are 1,390 newcomers, 986 growing talent, 703 high achievers, 360 experts, and 223 legends. These labels denote some milestone that the Master Traders have reached, although their performance and results can vary. As we discovered, worldtradex does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity.
- For over 10 years we consider our independence, absolute openness, and objectivity as our main priority.
- Of course, you may not need to do this at all consider the fact there’s over 70 different indicators already on the platform.
- This feature ensures that traders cannot lose more than their initial investment.
- We made the deposit through Tether via the TRC20 network, which has the lowest fees.
What platforms are available for trading with worldtradexFX?
Our website only provides information on brokers and the markets and helps its users to select the best brokerage company based on detailed information and objective analysis of brokers. I’ve been using worldtradexFX for some time now, and what I particularly like is the simplicity of the whole process. Spreads are decent, starting at 0.6 pips, which keeps my trading costs down.
Depositing ease
The major forex pairs are offered, yes, but almost no emerging markets are. No stocks are offered, only 2 commodity assets, and 2 cryptocurrencies. The availability of two trading platforms—worldtradexTrader and MT5—caters to diverse needs, while the inclusion of swap-free Islamic accounts and demo accounts highlights the broker’s commitment to inclusivity. Copy Trading further enhances its appeal by simplifying trading for beginners and providing passive income opportunities. Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms. He is an expert in Compliance and Security Policies for consumer protection in this sector.
Before signing up to any broker, check out who it is regulated by and make sure you fully understand how these regulations serve to protect your money. Some brokers are more regulated than others, and this will largely depend on where the company is based. Regulation is one of the most important factors to consider when looking at forex brokers. A highly regulated broker will offer you more protection and safeguard you from fraudulent behaviour, or in the case of insolvency. Our primary goal at The Tokenist is to simplify the word of financial decision-making, so that investing is not only easy – but also fun. However, the opinions and reviews published here are entirely our own.
“View of the daily trader”
This can result in comparatively bigger movements than a well-diversified holding so is something to keep in mind. If you want to expand your research, and evaluate some options similar to this broker, you can consult the alternatives to worldtradexFX. worldtradex provides a variety of educational resources aimed at enhancing trading skills. These resources are crucial for developing a solid foundation in trading principles and practices.
The demo account is unlimited in funds as you can top it up should you need more virtual currency, and has no expiration date. worldtradex is based in Saint Lucia but has multiple entities outside of Saint Lucia to provide financial services to clients in 180+ countries. Depending on where you are from, you can open an account with a different entity that is regulated by either CySEC, MAS, or FSC. Founded in 2011, worldtradex has built a substantial global presence over its years of operation. The broker reported serving over 12 million trading accounts across more than 150 countries, with particularly strong penetration in Asia, Africa, and Latin America.
Forbidden trading techniques
With trading costs being a significant determinant Worldtradex forex brokers reviews of success or failure, the broker is right to emphasise what a help this could be. The Copy Trader account area requires separate funding and comes with its own dedicated app. The app has been downloaded more than 5 million times, with a 4.5 star rating out of 5, which is impressive indeed. At Rationl FX, we prioritize clarity and transparency in all our interactions. Our services are available to everyone free of charge, but we do receive compensation from some of our partners for referring clients to them. The worldtradexFX 50% deposit bonus can be used to increase free margin and open higher-volume positions.
This means that no matter the financial situation of the broker, your funds will always be safe. The combination oflow spreads and fast execution speeds make this broker a great choice for scalpers. Added to that the fact they do only offer a limited range of base currencies and not many deposit or withdrawal methods and you can see the limitations of this otherwise popular broker choice. worldtradex operates under various regulatory frameworks depending on the entity through which an account is opened.
The first, and best place for most traders to get started is an worldtradexFX demo account. Here you can learn the ropes, ideal for a beginner, with no obligation to enter live trading. With worldtradexFX another of the measures in place to keep you safe as a trader is negative balance protection. This means that you can never lose more money than the balance of your account. This service is offered worldwide, regardless of whether it is required by the regulators or not. The platform itself is easy to use on both sides and provides you with a good ability to see the performance of other traders and a number of metrics.