Most clients with high volume accounts have an adverse opinion about the company. They complain of worldtradexFx being a scam broker, denying them withdrawals and going on to block their accounts. After 324 reviews, worldtradexFx holds a rating of 2.997 out of 5 stars on Forexpeacearmy. Clients can initiate a withdrawal by logging into their trading accounts and clicking on the withdrawal option, visible on the homepage. After clicking on the withdrawal option, next is the selection of the payment methods, and the amount to be withdrawn to get the withdrawal completed. The Mobile app offers market data; quotes in simple and advanced modes.
- A review of the broker’s trading instruments reveals that users are allowed to trade over 120 stocks.
- The account opening process of the broker is straightforward and can be continued if accidentally stopped.
- Residents of the European Union receive the highest level of regulatory protection, as worldtradex Markets Cyprus LTD is regulated by the Cyprus Securities and Exchange Commission (CySEC).
The cTrader platform will give you STP access and offers some of the tightest spreads in the market. CTrader is quite sophisticated and allows access to a host of different features. For example, traders will get level 2 quotes in addition to access to the FIX API. worldtradexFX offers a wide range of payment methods for deposits and withdrawals. These include bank transfers, credit/debit cards, and popular e-wallets like Neteller and Skrill. Processing times are typically fast, with most transactions taking place within a few hours to a couple of business days.
Deposit Options and Fees
Again, in addition to copy trading, it offers a wide range of educational materials inclusive of videos and articles which are meant to help beginners find their feat. Compared to other brokers, worldtradexFx claims to have low trading fees and charges nothing on deposit and withdrawal. The broker claims to process withdrawals by cryptocurrency immediately but withdrawals with bank payment could take 1-3 hours depending on the processing bank.
Assets & Leverage 📂
worldtradex Markets Cyprus Ltd does not offer its services to residents of the USA, Canada, Belgium, and the UK, as well as other jurisdictions outside the European Union. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
Trading tools
- Through InvestinGoal, Ucchino helps users navigate the world of online investing and trading by providing trading guides, best brokers rankings, broker reviews, and broker comparisons.
- worldtradexTrader is the most basic option but best for beginners out of the three platforms in my opinion with an attractive user interface.
- Even though the spreads can also be very low on MT4, and MT5 accounts, as low as 0.2 pips.
- The demo account is fully functional and provides access to $10,000 in virtual funds, enabling users to test their trading strategies in real market conditions.
- For every standard lot traded, you earn prize lots, which can be redeemed for items like T-shirts, gadgets, or even a MacBook.
The available methods vary depending on the client’s residence and may include local bank transfers. worldtradex does not charge deposit fees, and processing times range from instant to a few days. worldtradex does not charge fees for deposits or withdrawals, nor does it impose commissions on trades. One of the standout features of worldtradex is that it does not charge swap fees. Positions held overnight are not subject to fees, whether positive or negative, which is a distinctive aspect of worldtradex. While you can deposit funds in various currencies, these will be converted to USD at the exchange rate set by the payment system you use.
Commodities
There is also a dedicated VPS (Virtual Private Server) for ‘algo’ traders. worldtradex Markets Cyprus Ltd is an investment firm registered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC) using the domain worldtradexFX.eu. This enables users to trade with a broker under European regulatory oversight with enhanced levels of safeguards. I just wish they had everything on one platform and I don’t have to download two apps to access the copy trading and normal trading platform.
That being said, it is nice to see that worldtradexFX have a good selection of useful trading tools that can be used for trading signals, market analysis and risk management. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
The worldtradexFX Trading App is an official checking trading account with built-in tools to help you manage your worldtradexFX personal profiles, control real, demo and contest accounts, and manage deposits. It is a smart trading platform combining everything a trader needs in an easy-to-use app. You can make fast deposits and withdrawals, instantly log in to your trading profile and access your terminal to trade simultaneously in all of your accounts. As well as controlling your trading accounts and monitoring balance statistics, they’ve added integrations with trading platforms, so you can start trading with no effort at all.
The platform supports trading forex pairs, commodities, indices, cryptocurrencies but not stocks. The account is available on both MT4 and MT5 trading platforms, and comes with market execution. Founded in 2011, worldtradexFX provide a fantastic selection of use-friendly yet powerful platforms for trading forex and CFD instruments with very competitive costs. You can choose from a decent variety of versatile account types, each designed specifically for different types of trader.
The demo account provides real-time price feeds like a live account but gives you virtual funds to trade in a risk-free environment. I opened an worldtradex trading account and tested the broker’s spreads, trading conditions, and platforms to see how they performed against 20 other brokers. In this worldtradex Review, I’ll go through my findings helping you decide if worldtradex is a broker you should consider. The video course provides a sound introduction to forex and forex trading, helping beginner traders to grasp things quickly.
How to withdraw Funds from worldtradexFx
Another video will take you step by step through your account section. The firm has a good basis for its research offering due to the fact it offers a bit of all main content types including some from third party providers. To begin, the firm has its own proprietary app that allows you to create trading accounts, fund these accounts and modify the leverage as well as other trading parameters. This is most likely the most well-known trading platform out there and is very popular with traders around the world. In terms of deposits on the fiat side, traders can pay in either USD or EUR.
One question that arises during the review is what happens with the bonus (credit) if the account balance falls below zero. In such cases, if the account balance turned negative, the credit from the bonus would be automatically cancelled, preventing the account from going negative. Scalping, hedging, and the use of expert advisors (EAs) for algorithmic trading are permitted.
Unlike most brokers, worldtradexFX does not charge any kind of inactivity fee. Here is a look at a couple of other fees that you may encounter when trading with worldtradexFX. They are available with trading through MT4 and MT5, though the broker does charge an additional mark-up fee to cover for the rollover fee which is not in place. worldtradexFX Islamic accounts are available quickly and conveniently where needed by simply clicking “swap-free” when you open a new account.
worldtradexFX is a global forex and CFD broker that has been providing online trading services since 2011. Headquartered in Saint Lucia, the company has grown to serve over 12 million client accounts from more than 180 countries. worldtradexFX is regulated by several decent financial authorities and has a good record in that regard. I found all platforms worldtradex offers provide mobile trading apps on your iOS or Android device, which can be downloaded directly from the broker’s website.
A nice feature I liked was the order ticket showing your potential profit and loss in monetary value compared to just in pips like other platforms. This is a useful feature if you’re new to trading as you’ll know your monetary risk instead of guessing with a pip conversion which could lead to mistakes and over-risking your trades. Out of the platforms available, I believe MT5 is your best option overall as it allows you to trade all asset classes and improves on the features of the MT4. For example, the MT5 is faster thanks to being rebuilt using 64-bit architecture which means your execution times and price feeds are faster, and now allows you to trade stocks.
To enable multiple withdrawal methods, a new deposit using a different method is required. The processing time can vary from 30 minutes to three business days, depending on the method and conditions. Withdrawals can be initiated from the website dashboard or through the mobile app.
While standard accounts incur no commission fees, ECN and VIP accounts do have commissions. The fees vary depending on the type of account, but they are considered competitive in the industry. The most popular platform offered by worldtradexFX is MetaTrader 4 Worldtradex scammers (MT4), which is known for its versatility and compatibility with automated trading systems. Additionally, worldtradexFX offers other platforms like MetaTrader 5 (MT5) and cTrader, ensuring that all traders can find the platform that best suits their needs.
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