worldtradex offers many different account types, including ECN Standard, ECN XL, and ECN Advanced. Our worldtradex review experts found that the ECN Standard account had the easiest entry point with an initial deposit of $100. The ECN XL and ECN Advanced accounts require deposits of $10,000 and $100,000 respectively. In addition to the selection of major withdrawal options making payment quite well-orhanized, we also notice the broker covers processing fees for both deposits or withdrawals.
Traded here for a while initially on demo, then traded couple of months on a live account. Everything was okay, yeah sometimes I made fatal mistakes, but as I learned, traders should never give up, so do I. It is a regulated broker with a European license, which ensures safety for trading and protection for clients. It also offers daily market breakdowns, outlining current trading opportunities. The broker, however, does not incorporate research content from third-party providers. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage.
- A great amount of thought was applied into the forex education centre in order to ensure it can help to make a difference and enhance your knowledge of the markets.
- worldtradex Trader offers enhanced features such as one-click trading, advanced charting tools, and real-time analytics, making it an excellent choice for traders seeking a modern and powerful trading interface.
- Minor pairs, such as EUR/GBP and AUD/CAD, provide additional trading opportunities with slightly wider spreads.
Versatile Broker with Competitive Spreads
Also, conditions for online trading might vary depending on the jurisdiction. 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.
worldtradex Account types
worldtradex has a ‘best execution policy’ (for both entities), guaranteeing to take all necessary steps to provide its clients with the most faborable price quotes under prevailing market conditions. The broker publishes regular market updates and has an intuitive economic calendar. Additionally, worldtradex’s access to deep liquidity decreases the risk of incurring negative slippage at times of heightened market volatility, which is especially important for news trading.
However, worldtradex does not have a specific web-based trading platform; all trading is done using desktop or mobile applications based on MT4 software. This restriction could be a disadvantage for traders who want web access for convenience. However, they are still powerful platforms that will provide everything needed for experienced traders to conduct technical analysis while also being intuitive enough for beginners to pick up easily. However, some FX specialists like Forex.com offer thousands of additional instruments, so it’s disappointing to find just 27 non-forex assets on the worldtradex platform. worldtradex are never charged any commission or fee for trading from their traders.
My Key Takeaways After Testing worldtradex’s MT4 Mobile App
Count on Forex Broker Guru to bring clarity to the world of forex brokers and elevate your trading experience. worldtradex caters to a diverse range of traders by offering various account types, including Standard, XL ECN, and Advanced ECN accounts. Each account type comes with its unique features, allowing traders to choose the one that aligns with their trading preferences and strategies. The ECN accounts, in particular, provide direct access to liquidity providers, ensuring competitive spreads and minimal slippage. worldtradex is an excellent low-cost choice for beginners due to its decent range of educational resources and free demo account – a great way to build up experience before trading with real capital. The $0 minimum deposit also makes the forex broker accessible for new traders.
For example, the EUR/USD currency pair is the most liquid currency pair in the forex market, so it generally has the tightest dealing spread. If an important news event occurs, such as a key economic data release, the EUR/USD dealing spread can widen considerably depending on how much market volatility the event causes. Traders of all levels can deepen their knowledge through a variety of educational resources. Daily technical analysis is updated on the website with the latest information and a successful retest of the next momentum.
Educational Tools
- Traded here for a while initially on demo, then traded couple of months on a live account.
- In this worldtradex review, we examine the broker across key categories, including its accounts and fees, trading platforms, and customer support, to find out how it competes with alternatives.
- With execution speeds of 60 milliseconds, worldtradex is suitable for high-precision trading.
- worldtradex does not impose any minimum deposit requirement for opening a live trading account, making it accessible for traders to start with any amount they are comfortable with.
It is the feature of honesty in terms of pricing and execution that makes the customers interested and votes with plentiful positive reviews and ratings. CFDs and trading in forex on margin, carries with it significantly high levels of risk and might not be compatible for all the investors. Practice caution and see financial advice when unsure because what we offer here is NOT financial advice. We verify some of our data for quality control but there are slight variations occasionally. Any and all partnerships with industry regulars are not and should not, be viewed as an endorsement or recommendations by topfxbrokersreview.com, even though we may be sponsored by some of the brokers.
worldtradex does not impose any minimum deposit requirement for opening a live trading account, making it accessible for traders to start with any amount they are comfortable with. However, according to the payment method the minimum amount ma vary from 50 to 100$ per transaction so be sure to check those conditions, which we find slightly different in each worldtradex entity too. Following three months of account dormancy, the broker levies a $5 inactivity fee per month. Although this cost is meager compared to some other brokers, casual traders should keep this in mind. While other online payment systems like Neteller and Skrill have a set 2.7%, but bank wire transfers cost between $30 and $ 45.
The broker’s objective is to offer attractive spreads across all account types, ensuring traders can benefit from cost-effective trading regardless of their account tier. Reliable customer support is essential when trading with any broker, and worldtradex recognizes this importance by offering efficient and accessible service. Traders can reach worldtradex’s support team 24/5 through multiple channels, including email, phone, and live chat. This ensures that help is always available, no matter the time or urgency of the inquiry.
worldtradex prioritizes transparency, and all applicable fees are clearly outlined on their website, ensuring traders are fully informed about any costs before making transactions. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.
However, the broker will automatically close their losing positions relatively quickly thereafter, given that most other brokers set their stop-out levels at around 30%. The mobile app version of MetaTrader 4 shares the same underlying issue as the desktop version. It feels rather cumbersome and, therefore, not suitable for carrying out penetrating price action examinations. The problem stems from the fact that the app has to be run on low-resolution devices, which do not afford wide overviews of price action behavior.
However, traders seeking stocks or deep education and market research will need to look elsewhere. Also, the offshore regulation for non-EU traders and expensive withdrawal fees are notable drawbacks. worldtradex enhances the mobile trading experience by offering the MT4 and MT5 applications, compatible with iPhone, iPad, and Android devices, ideally suited for day traders. One of these platforms’ biggest advantages are their support for automated trading via Expert Advisors (EAs), which have long been favored by algorithmic traders and which we feel are yet to be surpassed. worldtradex comes with MetaTrader 4 (MT4), which is well-known and liked by a majority of global traders. It is equipped with useful tools such as advanced charting, and trading strategies, and a nice user-friendly interface.
The broker impresses with its forex pairs offering, which is one of the largest in the industry. The deposit is low, the MetaTrader 4 platform is one of the best for forex trading, and the tight spreads through the ECN model are competitive. On the negative side, there is a slim selection of trading platforms with access to MetaTrader 4 (MT4) only. Our team is also disappointed by the withdrawal fees and weak regulatory oversight through the offshore branch. New traders have access to fourteen quality educational posts plus a dedicated section on major economic reports. Eleven eBooks complete the education at worldtradex, and the overall product remains impressive.
The variety of contact options allows traders to choose the method that best fits their needs, whether they prefer quick responses through live chat or more detailed assistance via email or phone. worldtradex is committed to providing consistent and responsive customer support to all its clients. Forex trading is a cornerstone of worldtradex’s offerings, featuring a comprehensive selection of currency pairs for traders to explore.
worldtradex has a hybrid STP/ECN execution model with access to deep liquidity. It also achieves average execution speeds below 60 milliseconds, which lessens the risk of negative slippage, and offers free VPS hosting for low-latency trading. Our forex broker ratings are the result of a blend of quantitative data and qualitative insights gathered during the testing process. This approach allows us to Worldtradex reviews identify the best forex brokers for a variety of trading styles, skill levels, and financial parameters. Yes, it is possible to have a profitable strategy when trading with worldtradex, which offers the reliable MetaTrader 4 platform and plenty of analysis to support forex trading.
