This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework. Unregulated entities can potentially abscond with your money without being held accountable. worldtradex could offer more in terms of trading tools and reduce or eliminate its withdrawal fees, but these are minor complaints. This makes the broker a worthwhile option for serious forex traders who will also enjoy the VPS service and MT4 support. worldtradex’s offshore entity offers a 100% welcome bonus up to $2000 whereby new clients can double their initial deposit size.

• Be mindful of these charges, impacting your overall worldtradex trading profitability.
• New traders have access to fourteen quality educational posts plus a dedicated section on major economic reports.
• Also, the user interface of the mobile application is pretty problematic and difficult to understand.
• A copy of the ID and one proof of residency documents usually satisfies this final step.
• However, due to European regulations, this bonus is not available for clients from the EEA.
• This ended badly.Now I am back at my feet and trading on ecn xl here, this time with a plan and a nice leverage thanks to worldtradex.

That’s nice that by the time I discovered this broker I had gained enough experience. So, I don’t trade them, but I can trade some majors.I wanted to say that beginners could be scared away by a relatively high minimum withdrawable amount. I understand that these people may be struggling to withdraw their first money they earned on Forex. This broker definitely welcomes experienced traders who can easily meet this requirement. Moreover, this audience can count on very good spreads and the absence of swaps and commissions. MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005.

But all these authorities are local and not that well-reputed. We do not understand the brokers need for multiple regulations when it can be regulated by one major and reputed regulatory authority. This creates confusion, and we do not think it is safe to trade with worldtradex. We would advise traders and investors to think twice before they put their hard-earned money in the hands of the broker. With Negative balance protection, traders cannot lose more money than they have deposited. Brokers regulated by the Financial Conduct Authority (FCA) must offer negative balance protection as a standard feature.

In fact, there are not a very large number of real ECN brokers who would offer decent trading conditions.I think worldtradex is one of those brokers. I used to trade with another broker, but their spreads and commissions ate more than 20% of my earnings. Here I have a totally different situation – I practically do not notice any spreads or commissions…There is also one more detail that is very important to me. I don’t know what the broker says about withdrawal, I haven’t even checked it… But every time I order it, the money comes to me within 2 hours. worldtradex supports bank wires, including several local options, credit/debit cards, UnionPay, Neteller, and Skrill.

ForexBrokersOnline.com earns money from affiliation deals with our partners. Our partners cannot influence our reviews, nor can they pay us to bias our rankings. However, no forex broker or strategy can guarantee positive returns so you should never invest more than what you would be comfortable losing. worldtradex does not have a dedicated mobile app, but clients can trade using MT4’s app, which is available from the Apple App Store and Google Play. The European branch is licensed by the CySEC, a reputable regulator, and the brokerage has earned a good reputation with over 10 years in the business. I find worldtradex’s in-house forex market hours tool a handy way to check holidays and other events that could impact trading hours.

Your capital is at risk

In addition, currency conversion fees may apply if the worldtradex withdrawal and receiving currencies differ, adding to the overall transaction costs. Awareness of these worldtradex fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your worldtradex funds. My previous strategy was just a house of cards🃏 I admit it now, I didnt have any plan, I just though I would trade on my “intuition” LOL. This ended badly.Now I am back at my feet and trading on ecn xl here, https://worldtradex.pro/ this time with a plan and a nice leverage thanks to worldtradex. The acc even allows hedging, though I think it needs to be used only in certain situations, not always. ForexBrokersOnline.com aims to provide the most comprehensive source of information about forex brokers.

worldtradex MetaTrader 4 Advanced Trading Tools

Also don’t get me started on how user-friendly their interface is by making sure they provide advanced trading tools so the overall experience will be very satisfactory. worldtradex Forex broker provides a range of educational resources to help traders improve their knowledge and skills. More you will get daily forex technical analysis by forex experts, and forex news. worldtradex is committed to providing its users with educational resources through webinars, trading guides, and market analysis.

Trading Scams: A Comprehensive Guide for Traders and Telegram Users

Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors’ deposits. worldtradex has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, worldtradex will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like worldtradex, you can enjoy peace of mind and focus on your trading activities.If worldtradex violate any regulatory rules their regulated status could be stripped.

Is worldtradex A Good Or Bad Forex Broker?

I am satisfied with worldtradex’s forex research offering, which includes a blog with regular articles and posts highlighting promising opportunities as well as general tips on trading. worldtradex uses a no-dealing desk model and does not act as a market maker, reducing the risk of price slippage or a conflict of interest by the broker. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. But there is 0 dongs and whistles, so, again, not everyone might like it. I feel like each one of us needs to find 1 broker he “clicks” with.

• If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value.
• Just look at trading conditions, which are listed on website and immediately understand everything.
• However, traders seeking stocks or deep education and market research will need to look elsewhere.
• The multilingual support team responded very quickly to my queries over live chat, never taking more than 30 minutes to get back to me.
• They do not provide live chat support, and their phone and email support can also be slow.
• This is a much larger virtual bankroll than almost every other broker we’ve tested, but makes sense given the very high leverage.
• EEA-based traders manage their portfolios from a subsidiary that is authorized by the Cyprus Securities and Exchange Commission (CySEC).

For instance, using CFDs, you use the worldtradex trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed. The next step involves submitting identification documents for worldtradex account validation and making a deposit. Once completed, worldtradex users can download the trading platform of their choice.

Another big downside is the lack of web trader compatibility, which I find convenient because it provides straightforward and fast market access. Besides the very frustrating withdrawal charge, worldtradex’s non-trading fees include a $5 inactivity fee charged after 120 days of dormancy. However, not all currency pairs are as generously priced – GBP/USD trades with a 1-pip spread, which is more expensive than the average of around 0.3 pips at Fusion Markets, for example. In our experience, the 0.2-pip average spread on EUR/USD is far tighter than most commission-free accounts, which regularly charge 1 pip or more for this major pair. The most frustrating absence is stocks, which are entirely missing, though traders can at least speculate on stock markets through index CFDs.

So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position. It’s essential to remember that the payment methods provided by worldtradex vary based on the worldtradex entity and the worldtradex client’s country of residence.