It is also one of the few brokers on the market who have prepared various bonuses and promotions for its clients. worldtradex holds a mixed reputation online, with both positive and negative reviews from users. While many traders appreciate the broker’s competitive spreads and educational resources, some users report slow withdrawal processing times and occasional customer service issues. Overall, worldtradex maintains a strong market presence and continues to be a popular choice among traders, despite a few drawbacks. The Standard account does not charge commission fees, while the ECN and VIP accounts charge commissions based on the volume traded.
However, as with demo accounts this is something that you would expect from all brokers nowadays. As mentioned earlier, worldtradex’s support for over 500 instruments, copy trading services through TradeCopier, and over 10k competition prizes are the main benefits of trading with this broker. TradeCopier Platform allows automatic replication of trades from experienced traders in real-time, which is suitable for beginners, time-constrained traders, or those looking to diversify strategies. Established in 2010 and headquartered in Cyprus, worldtradex is a financial derivatives broker known for its extensive range of trading tools and features. The available materials and tools inform the broker’s clients of trading opportunities that are currently developing and explain how and why those opportunities are taking place.
worldtradex Trading Hours (GMT +
Another option is to use the WebTrader, which is the browser-based version of MT4 and it is fully synchronized with it. The web terminal is a modern, fast HTML5 application that runs on any computer system without the need to download any additional browser plug-ins and add-ons. When choosing a broker, it’s crucial to consider their reputation and trustworthiness. worldtradex broker received a 4.4 rating from over 280 reviews on Reviews.io website.
- worldtradex provides free Virtual Private Server (VPS) hosting, helping traders achieve ultra-fast order execution speeds and diminish the risk of negative slippage.
- The minimum deposit required for this account is $500 and once again, clients can register SD, EUR or JPY as their base currency.
- When choosing a broker, it’s crucial to consider their reputation and trustworthiness.
- The list of Forex, spot, and CFD trading instruments is well-constructed but some rivals offer more comprehensive listings.
After reviewing the broker’s legal documents, I found everything to be in order. The Client Agreement is easily accessible on the website, with all relevant information presented clearly and in an easy-to-understand format. In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s operating history, company size, and information transparency. Overall, I concluded that worldtradex is an excellent choice for day traders, copy traders, and algorithmic traders. It’s been a wonderful one year trading here and it’s always felt very peaceful and smooth.
Traders must ensure they execute risk management to avoid magnified losses. worldtradex offers negative balance protection, meaning traders can never lose more than their deposits. The most ignored trading costs are swap rates on leveraged overnight positions.
Does worldtradex offer a demo account?
The trading process is automated which keeps manual intervention to a minimum and thus helps to maximise efficiency and effectiveness. The award-winning trading platforms available provide an automated risk-management system to ensure that client accounts will never go negative. Complete training in financial markets such as “Forex,” “Stock Market,” and “Cryptocurrencies” only becomes comprehensive with tested trading tools and strategies. “Trading Finder,” with its experience, aids traders and investors in gaining a correct understanding and deep learning. The training programs are designed based on tools for traders of all levels, from “beginner to advanced.” Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today.
STP/ECN No Commission Account
Metatrader 4 and 5 for Android, iOS, and Windows Mobile provide easy integration with desktop and tablet versions. They also offer the free worldtradex Research app, which has no trading functions. Metatrader 5 adds important features lacking in the older version but retains frustrating aspects of this industry-standard software, including weak customization and limited conditional orders. The lack of two-factor authentication in both Metatrader versions adds a security hole that needs to be fixed. worldtradex offers Metatrader 4 and 5 but no dedicated or proprietary trading platform. They do offer a Mirror account, but that’s a hedging tool, not a social trading interface.
Live Floating/Live Fixed Spreads
Clients can also download MT4 Advanced, which comes equipped with front-end terminals and back-office reporting functions, as well as automated strategies and the ability to use Expert Advisors (EA). EAs are automated trading bots, which can be customized by the trader and used for robot trading based on preset rules and conditions. An FX withdrawal takes between one and ten business days, dependent on the payment processors and the geographic location of traders.
- Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com.
- The FCA has issued a license to 8Safe UK Limited, which operates worldtradex in the country.
- Finally, the fine print advises that spreads widen significantly during volatile and off-market periods, even with fixed spread accounts.
- The average spread cost for the EUR/USD pair is 1.2, slightly above the industry average of 1.08.
- Clients can also download MT4 Advanced, which comes equipped with front-end terminals and back-office reporting functions, as well as automated strategies and the ability to use Expert Advisors (EA).
The broker also provides copy trading solutions through its TradeCopier service and VPS hosting for low-latency trading. worldtradex is one of the few brokers that offer traders the flexibility to choose between fixed and floating spread accounts. Although worldtradex offers 26 futures contracts, there are no vanilla options, ETFs, or bonds that most swing traders use. worldtradex provides access to the widely popular MetaTrader 4 platform and offers free Virtual Private Server (VPS) hosting for low-latency trading. The broker stands out with its extensive educational and research content, developed both in-house and sourced from the renowned Trading Central. Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs.
worldtradex offers a wide range of educational resources, including webinars, market analysis, and trading guides, making it a great choice for beginner traders looking to improve their trading skills. The quality of educational content is top-notch, with beginner-friendly guides and advanced resources for experienced traders. Client funds are segregated from company funds, reducing the potential for misuse. They operate a counterparty dealing desk, raising conflict of interest issues, but offer direct interbank trading access in some account types. They provide no guaranteed stop-losses but negative balance protection is now mandated under ESMA rules. Secondary security features are unimpressive, with standard encryption at the website and no two-tier platform authentication beyond Metatrader’s one-time passwords (OTP).
“Reputable broker”
Yes, worldtradex provides a comprehensive suite of educational materials for traders of all levels. worldtradex impresses with its probing and layered market research, developed in-house and incorporated from Trading Central. The broker provides regular market breakdowns, featured trading ideas, a comprehensive market sentiment tool, and more. I asked a series of questions with varying degrees of difficulty and determined that the agent’s answers were swift and comprehensive. He was also polite and patient, taking his time to provide satisfactory answers to my questions.
If you are new to trading online, then you will be pleased to find a demo account option. This can be the perfect way to Worldtradex company reviews get used to using the platforms and for testing your trading strategies in a risk-free environment. This is not something exclusive to this broker, you will find most have a demo account available.
The broker does not have a huge range of commodity markets but it offers trade on the most popular ones. Along with trade on spot metals and spot energy commodities, it also gives its clients the opportunity to trade commodity futures. Futures contracts allow traders to make a profit from the price margin before the closing date determined in the contract. CFDs on commodity futures are extremely flexible and convenient for traders compared to trading and owning the physical commodities themselves. I like the trading fees in the worldtradex Absolute Zero account, where traders get commission-free spreads from 0.3 pips. VPS hosting exists for algorithmic traders and copy trading services are also available with a balanced asset selection and active trading community.
