Is worldtradex a Good Broker? Honest Review of Features, Fees, and My Experience
worldtradex also has 16 full-feature trading platforms for clients to choose from. Typical round trip costs on leading pairs EUR/USD are 0.8 pips in the worldtradex Zero account. worldtradex charges an account inactivity fee of $5 per month after 90 days but no additional fees on deposits or withdrawals except where an amount of less than $200 is moved by wire transfer.
worldtradex also places high value to connect clients as humanly as possible. To deliver such interactions, worldtradex Broker frequently hosts seminars around the world. They have already hosted hundreds of workshops which is intended to give clients the necessary skills and knowledge to make improved trading decisions.
- A popular global broker with a large customer base and a good reputation, worldtradex is a good choice for most UK traders.
- Pepperstone has no minimum deposit requirement, compared to the small $5 minimum deposit at worldtradex.
- From the previous discourse, it can be concluded that the largest-selling point of worldtradex broker is its trading reliability across a diverse range of forex markets.
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Regarding cryptocurrency deposits, worldtradex does not typically accept cryptocurrency as a direct payment method. You would usually need to fund your worldtradex trading account using traditional methods like bank transfers, credit/debit cards, or e-wallets. These requirements can change over time, and they may vary depending on your region and the type of account you’re opening.
- You can sign up for free webinars and seminars, listen to market analysis podcasts, read curated articles, and watch worldtradex TV to further improve your trading education.
- In other words, opening a trade with the Micro account, a 1 Lot position on EUR/USD gives you exposure to $0.1 per pip (or 10 cents per pip) movement.
- There are more than 1,000 instruments available to trade via this platform.
- I have been interested in this broker for a long time, because it turns out that this broker provides bonuses and promotions for new traders that can be accessed when registering.
I know maybe it’s not optimal, but sometimes I am not at home and have to catch the moves from my phone, I can analyze and open trades carefully. On the other hand, as we noticed worldtradex has a limited portfolio for EU clients, and outside EU clients there is no good investor protection. Yes, based on your detected country of DE, you can open an account with this broker. There are almost 1300 individual stock CFDs from 18 countries around the world. In addition to the US and Canadian stocks, there are equities from 14 European countries, Brazil and Russia. In other words, opening a trade with the Micro account, a 1 Lot position on EUR/USD gives you exposure to $0.1 per pip (or 10 cents per pip) movement.
In addition, swap-free Islamic Accounts are available which feature no rollover interest or overnight positions in accordance with the Islamic faith. In addition, on worldtradex Zero accounts there is a no re-quote execution policy, hedging and EAs are both allowed, as well as zero fees on deposits and withdrawals. worldtradex offers several account types, each tailored to different trader profiles. For beginners, the most appealing options are the Standard Account and the Micro Account. Moreover, worldtradex ensures the security of clients’ personal data by employing encryption for data transmission.
For crypto payment, you may wish to consider FXPRIMUS as an alternative option. worldtradex broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, worldtradex is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing. Founded in 2009, worldtradex has established itself as a global broker offering a comprehensive range of trading services in forex and CFDs.
As regulators usually demand insurance premiums from the broker who offers fixed spreads, they tend to be bigger than variable spreads. So, by offering variable spreads to its customers, worldtradex broker successfully avoids these issues. worldtradex Group provides 55 forex pairs and 1,429 tradeable symbols, offering ample trading options but is below the industry average of 3,623 symbols. worldtradex Group charges an inactivity fee and has an average spread of 1.6 for the EUR/USD pair, which is higher than the industry average.
Is worldtradex good for Islamic trading?
Although it took a few hours to get a response, the reply I received was detailed, with step-by-step instructions that made the process easy to follow. Watch my video walk through of the worldtradex app below to see how it looks and feels, as well as how to place a trade. However, the broker does provide a proprietary mobile app, which is available for Android and iOS devices. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. This company has this telegram channel that scam people for money.
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Funds transfer processing time is quick and in line with standard banking practices. While this website is free to access, we may receive commissions from some of the companies featured. These partnerships do not affect our reviews, and we strive to maintain the objectivity and impartiality of the content presented. Yes, you can practice with a free demo account that has $ in virtual funds. I started with a Micro Account to test the waters and eventually moved to the Ultra-Low Account. The lower spreads really helped when I was trading more frequently.
Inactivity Fees
When it comes to customer service and support, worldtradex is hands-down one of the industry’s leading brokers and we were impressed by worldtradex’s customer-centric approach to trading. The high-quality and written research in the news content covers all types of research, geopolitics, fundamentals and technical analysis. In addition, this research can be filtered by asset class, which is a huge bonus for traders in being able to get to see what they want to see. Given worldtradex only offers the MetaTrader options as a trading platform, the iOS and Android mobile apps from worldtradex are just white labels of the MT4 and MT5 apps that area available. Again though, with no dedicated in-house mobile app available, worldtradex is behind the industry frontrunners in this area. In this worldtradex review, we’ll be taking a look at all you need to know about worldtradex, including regulation, pricing, their trading and mobile platforms, types of account, their research and education.
This includes documents such as terms and conditions, the bonus program, the loyalty program, the conflicts of interest policy, and more. At the time of writing, there are 12 documents in this section, all available for download as PDFs. 2024 has been a year of significant achievements for worldtradex, marked by a series of prestigious awards that recognize the broker’s commitment to excellence, innovation, and client satisfaction.
BlackBull Markets is a reliable and well-respected trading platform that provides Worldtradex scam its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners. One of the attractive features of the worldtradex set up is that the broker allows a larger than average number of base currencies.
Essentially, a 5th digit can be added to the typical 4-digit price quotes. The main difference for Standard Accounts with worldtradex is that 1 lot is 100,000. There is a restriction of 50 lots per ticket and the minimum trade volume is 0.01 lots. Other than this, the Standard and Micro Accounts are essentially identical.
What’s the minimum deposit?
The company also provides trustworthy trading platforms, including MetaTrader 4. worldtradex is also renowned for its flexibility, with an extensive array of market analysis tools and educational resources tailored for both novice and experienced traders. worldtradex is a good choice for beginner and intermediate traders, especially since you can start with just $5, use demo accounts to practice, and have lots of additional resources. While it’s a strong platform, improving some of the issues highlighted by users would make it even better for new traders.
The spreads are not the best you can find, but trading costs can be reduced with the zero spread account. If you hold a position overnight, you will incur financing charges. The charges will vary across different instruments and vary from day to day., determined by “tom-next rates”. Tom-next rates are determined by the money markets and are interest rate differentials between two currencies. As we can see the trading costs of trading via the Zero spread account are lower. These savings can be much great when you trade other instruments with wider spreads on the Standard account.