Yes, worldtradexFX requires identity and credential verification before activating an account. Before engaging in actual trades or investments, this feature is especially useful for those seeking to increase their proficiency levels through simulated practice. The cashback rebate program returns a percentage of the trading spread, subject to conditions such as trading volume. However, most bonuses have conditions that must be met before they can be withdrawn.
What platforms does worldtradex offer?
For every standard lot traded, you earn prize lots, which can be redeemed for items like T-shirts, gadgets, or even a MacBook. Higher account statuses (Silver, Gold, Platinum) help you earn prize lots faster. To keep your prize lots active, you must trade at least once every 30 days.
- Beginner traders get the most educational value from webinars, which worldtradex also publishes on its YouTube channel.
- However, for live account types, clients must complete the KYC process before initiating positions or withdrawals.
- In addition, there is a security of the traders’ accounts applied by the Investor Protection and Compensation Schemes in case the broker goes bankrupt.
- I like the cost savings at worldtradex for traders who keep leveraged positions open for multiple trading days.
- The value of regulations lies in their ability to offer a framework within which traders can operate securely and with peace of mind, making it a critical consideration in the selection of a forex broker.
- During our testing, we did find that when we scaled up into maximum position size, we were able to get very close to using up our maximum margin capacity when executing.
worldtradex offers the popular MetaTrader 4 and MetaTrader 5 platforms across desktop, web, and mobile. These platforms provide robust charting and a wide range of order types and enable automated trading. The web-based worldtradexTrader platform is a beginner-friendly and convenient alternative. worldtradexFX’s policy is to offer transparent and hassle-free deposits and withdrawals, allowing beginner traders to manage their funds efficiently.
- Dear Zwoda Marole,Thank you for such a high rating and for sharing your feedback with our worldtradex Trading platform.
- Copy Trading further enhances its appeal by simplifying trading for beginners and providing passive income opportunities.
- The spreads are average, and the minimum deposit on accounts is 100 USD with the methods of depositing and withdrawing, including bank transfers, Visa, and e-wallets.
- To provide more trade management flexibility, MT5 also adds buy stop limit and sell stop limit, so introducing other order types.
- Processing times are typically fast, with most transactions taking place within a few hours to a couple of business days.
Its trading instruments are inclusive of forex, commodities, indices, cryptocurrencies and stocks. worldtradex (formerly worldtradexFX) is an international broker that has been providing online trading services in 13 languages worldwide since 2011. It offers commission-free access to financial markets already utilised by clients from 180 countries with more than 42 million trading accounts. worldtradex offers a wide range of trading instruments to cater to various traders’ needs. With options including 35 volatile currency pairs, 150 stocks from 16 exchanges, popular indices, and commodities such as gold, silver, and major oils, worldtradex provides a comprehensive trading experience.
About worldtradex Trading Platform
worldtradexTrader includes a feature called Space, which is a built-in smart feed of customised https://worldtradex.world/ trading ideas and market analysis. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade.
worldtradexFX MT4
Remember that the SEC (Securities Exchange Commission) has tight regulations regarding brokers in the USA, and most online international brokers will not be allowed to operate there. You then also have countries which are banned, like China, North Korea, etc. If you don’t know what negative balance protection is, it is a policy that a broker has that will cover any losses you incur if holding a bad position. If your balance goes negative, the Worldtradex broker will cover the losses and reset your account back to zero. worldtradexVision makes it possible to use AI to improve trading skills, increase awareness when making decisions. The most important thing is that the trader receives a personalized analysis of his actions.
We believe in a partnership, that’s why we welcome all feedback, to understand our users’ needs and provide them with the best Forex trading experience. worldtradexTrader, worldtradex Broker’s proprietary trading platform, received the ‘Best Fintech Product of the Year’ award from Global Business Magazine. A dynamically evolving trading solution, worldtradexTrader has recently gained several industry accolades, highlighting its AI-powered tools and other innovations. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
ForexPeaceArmy Users’ Review About worldtradexFx
worldtradexfx’s low minimum deposit requirements allow everyone to easily trade. Although the minimum varies per jurisdiction, it is relatively a low sum. Coming to assets, the company offers a wide array of tradable assets, allowing clients to pick their favorites and suitable ones for trading. There is also an availability of multiple trading tools and indicators, which serves to enhance clients’ trading experience and help them trade confidently.
The request was completed in under a minute and did not require sending an email or notifying customer service. 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. worldtradex does have a proprietary mobile app for trading, as well as for social copy trading (the worldtradex Copytrading app), yet it still trails behind industry leaders such as IG and Saxo.
Traders outside the EU and South Africa will trade with worldtradex Markets Limited which is authorised and regulated by the Financial Services Authority (FSA) Seychelles. The figures below reflect the available leverage at the offshore entity of worldtradex. Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and the least with CFDs on shares. Copy and automated trading are only available on the MT5 desktop platform. 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.
worldtradexFX has integrated platforms such as MetaTrader, which provides a no-frills, low-cost trading experience, focusing on transparency and favorable trading conditions. The platform also encourages using Expert Advisors (EAs), scalping, and hedging strategies, enhancing the trading experience. The number of markets is also different across the platforms, but none of them offers a range of instruments that could in any way be called excessive. It is possible to trade forex, metals, soft commodities, single stocks, indices, energies and a choice of five cryptocurrencies.
How to Open an Account and Trade on worldtradexFx Desktop Trading Platform?
The cost savings from the overall pricing environment alone make worldtradex a broker to consider. Beginner traders will benefit from well-thought-out research and educational services. The generous bonuses and promotions complement the excellent core trading services, explaining why worldtradex has attracted deposits from more than 42 million traders. A proprietary trading platform, worldtradexTrader, is also available for desktop, laptop, or mobile device as an app, allowing traders to manage their worldtradex portfolios. worldtradexTrader uses TradingView’s charting technology allows for comfort and customisation. The success of the proprietary worldtradex copy trading service resulted in the launch of a dedicated mobile app.
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. The worldtradex Status Program allows traders to unlock various benefits based on their trading account balance. Benefits include lower spreads, faster transfer and withdrawal times, access to personal account experts, and various rewards based on their trading activity.
Client orders received by worldtradex are offset by banks and liquidity providers. NDD (No Dealing Desk) brokers such as worldtradex act as intermediaries between the trader and the real market and receive a defined and transparent commission for it. In my tests, I received speedy responses—the same day for email and a wait of just a few seconds for live chat. Despite the lack of phone support, I rate worldtradex as average in this category. Popular features such as 1-click trading, alerts, and watchlists are available. Traders can access all basic order types (market, limit, stop loss) via the platform.