The broker takes advantage of some of its clients being domiciled in regions that still permit promotions, and those clients can benefit from a range of offers. A wide variety of educational content is available for worldtradex users under the ‘Traders’ Tools’ section. worldtradex gives high priority to the ‘Analysis and Education’ section of its site. The ‘Forex Basics/Technical Analysis’ library, for example, contains a step-by-step guide to support traders that are getting into trading. This guide ranges from a glossary of the basics to videos on the important question of which time frame to adopt. The service provides tutorials, which explain how this is done and primes traders to run a cBot and use the free algorithms made available to them.
FX Traders’ Viewpoint
However, traders may be charged third-party processing fees—which worldtradex has no influence over. Furthermore, although worldtradex does not charge inactivity fees, traders who deposit or withdraw in currencies other than USD or EUR could have to pay for the conversion. For traders trying to cut non-trading costs, worldtradex’s attitude to extra fees stresses affordability and openness, which appeals. worldtradex is indeed more appealing and more widely offering various attractive tools and proposals on International trading therefore Broker is better for International traders.
If you prefer to trade less liquid and higher risk assets you also have access to altcoins like Dogecoin to speculate on. Overall, the account opening process took 3 minutes which is the fastest application I have completed for opening a live trading account. 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. One of the key highlights for MetaTrader 4 I like is the option to automate your trades using Expert Advisors (EAs) which is allowed on your worldtradex account. You can develop EAs to 100% automate your strategy from analysis to execution, or set up risk management EAs to manage your risk on open positions automatically.
Account Types Comparison
These apps offer full trading capabilities, interactive charts, and technical analysis tools on the go. worldtradex offers access to multiple robust trading platforms, which include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and worldtradexTrader. There is no commission charged on both deposits and withdrawals, MT4 and MT5 commission is included in spreads as mark-up, and no additional fee is applied. It ticks many boxes for traders, who can access it through the live chat, email, phone, or by using an enquiry form.
Efficient communication and transparency are especially vital in e-brokerage services, where traders put in significant time and effort to achieve positive results. My experience with worldtradex has been largely positive thanks to its excellent ECN trading conditions giving me low spreads that averaged 0.80 pips on EUR/USD with no commissions. I thought the research provided by worldtradex was decent as they offered chart and candlestick patterns like doji candlesticks and wedges, or highlighting support and resistance levels to trade. The analysis was well presented on the charts and the commentary was easy to understand and follow, even if you’re new.
- With competitive spreads, high leverage options, and robust security measures, worldtradexFX strives to provide a comprehensive trading experience tailored to diverse needs.
- This is the commission fee charged by the Master (Signal Provider) whose trade you are copying, and it is up to the individual provider how much this fee will be.
- The demo account provides real-time price feeds like a live account but gives you virtual funds to trade in a risk-free environment.
- Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.
- Both platforms are available on desktop, web, and mobile devices, ensuring seamless trading across various operating systems.
- This section of the site is well supported by the Customer Services and the Education sections of the site.
A Broad Spectrum of Trading Opportunities
- For traders—especially scalpers—this low spread structure is helpful since it lowers the total trading expenses and increases profit possibilities.
- Even if a position ‘gaps’ in extreme market conditions, then the client will lose the funds in their account by no more than that.
- 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.
- You also have a track record of the trader’s order history, giving you a transparent insight into the trader’s performance.
- Non-disclosure of important information by service providers can significantly harm clients, often leading to financial loss and poor decision-making.
Over a week-long testing period, I probed customer support with dozens of inquiries, ranging from available tools to fees and questions relating to the security of client accounts. I was surprised at how fast the responses were, and the agents went the extra mile to provide the information I sought. worldtradex offers the MetaTrader 5 mobile app for mobile trading, which is available for Android and iOS.
worldtradexFX, a globally recognized online forex broker, was established in 2011 with its headquarters in St. Vincent and the Grenadines. This diverse portfolio makes it a popular choice among retail and professional traders alike. worldtradex charges minimal non-trading fees, making it a cost-effective option for traders. The broker does not impose any fees for deposits or withdrawals, allowing users to manage their funds without incurring extra costs.
Risk Level
As stated on their website, over 21 million trading accounts have been opened across 180 countries with worldtradex. When it comes to making informed decisions about forex brokers, it’s essential to rely on trustworthy sources. RationalFX, a company with over 20 years of experience since its founding in 2005, has established itself as a credible authority in the industry.
It features attractive charts for all three account types, allowing trading and modifications. I like that worldtradex provides a variety of trading platforms that all trading styles can use, making the broker a versatile option to benefit from the lower trading costs. Whether you’re a beginner with worldtradexTrader’s market analysis tools, automate your trades with MT4’s EAs, or day trade with depth of markets tools on MT5 there is something for everyone. Available for Android and iOS smartphones, the worldtradex MobileTrader app offers a flawless trading experience. The program showed amazing capability during testing, letting users access more than eighty trading instruments and make swift trades. With 30 technical indicators and 15 drawing tools, the app allows efficient chart analysis right away.
There is a strong trader focus to the platform backed by very high-quality industry-standard research and learning services coupled with a strong in-house copy trading facility. The pushback comes from the more limited number of instruments a user can trade on this platform. However, this should not detract from what worldtradexFX is, as a convenient, efficient, cost-effective trading proposition, that is attracting a number of third-party industry awards.
What Demo Account Does worldtradex Offer?
I think having worldtradex Copy is a good alternative for beginners or those who don’t want to invest their time in learning how to trade. At least this way, you can copy an experienced trader and benefit from leveraged products such as forex, crypto or commodities like gold. The worldtradexTrader has the least options for technical analysis too with 19 indicators, 11 drawing tools, and 7 timeframes. However, after testing I found the platform covered the top indicators like volume and moving averages along with Fibonacci retracement tools. Out of the platforms available, I believe MT5 is your best option Worldtradex review overall as it allows you to trade all asset classes and improves on the features of the MT4.
In addition, worldtradex boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. Learn how he started trading with worldtradex and check out his tips for beginner traders. The worldtradex website features a robust economic calendar, including the time, date, country, actual figure, forecast figure, previous figure, and anticipated market impact of a given economic release.
Less than 30 minutes later, the withdrawal was successfully completed, with the amount credited to our cryptocurrency wallet. The amount experienced a slight deduction due to conversion fees, but no additional charges were applied. We made the deposit through Tether via the TRC20 network, which has the lowest fees. In this case, the network charges 1 USDT, and worldtradex does not impose any additional fees. While there is no minimum deposit from the virtual wallet, worldtradex advises that the minimum deposit using this method is 50 USDT. The network charged a fee of 1 USDT, and the remaining amount was credited to our account in USD within minutes.
worldtradex provides a fast service for its withdrawals by sending your funds within 30 minutes after being approved. Approval of the funds can take from 1-3 hours depending on when you make a request. There are 12 extensive educational articles covering the forex basics but what stood out for me was the free forex trading course. In this course, I had access to 11 video lessons that lasted roughly 5-10 minutes but went into detail about how to trade forex. I found the account opening process to be rather straightforward where you complete an application filling your personal details and choose the platform you wish to work with.
While they do offer top trading platforms MT4 and MT5, if you are looking for a wide range of assets they may not be perfect. THerefore, is slightly hard to evaluate worldtradexFX since International codnitions are overall good, and EU are limited compared to industry. ALso, the points worldtradex does not win include instrument selection, lack of commission based accounts and more of the basic choice of platforms, buut spreads and costs at worldtradex are considered good.
In fact, in only a handful of instances did the response time beat the seven second figure. In over 96% of cases, our queries were processed to the point of satisfaction on the first interaction. We would also support the site’s claim that full resolution was achieved within three minutes. The standard MT4 package, for example, comes with 30 built-in indicators, over 2,000 free custom ones on offer and 700 available for purchase. The MetaTrader platforms are well known for facilitating copy trading and developing trading forums. Clients of worldtradex are able to engage in the Expert Advisor and MQL5 areas of the MetaTrader site.