Setting up an account with worldtradex is to be recommended as it is an opportunity to keep up with a broker offering the latest features in a particularly user-friendly way. The cutting edge feel of some of the tools coming from the broker’s exposure to institutional grade clients. They even have to break the offering down into two sections, ‘Knowledge’ and ‘Insights’.
- Newer traders can access a wealth of educational resources, an unlimited demo account and reliable customer support, while algorithmic traders can take advantage of worldtradex’s automated trading software.
- worldtradex offers tight spreads on major currency pairs, which is particularly advantageous for those using Active Trader accounts.
- Trading Station is their proprietary platform that offers traders an advanced yet user-friendly trading experience.
- With access to worldwide firm shares, traders may diversify their portfolios beyond currencies.
- If you are interested in increasing potential opportunity in the forex, NinjaTrader can help take market analysis and order execution to the next level.
Importantly, worldtradex does not charge any fees for deposits, which can reduce overall trading costs. However, it’s crucial to note that while worldtradex does not impose deposit fees, third-party fees may be applicable depending on the payment provider selected by the trader. Deposit processing at worldtradex is typically efficient, with most transactions being processed swiftly, thus enabling traders to begin trading almost immediately after funding their accounts.
Spread betting account
Learn more about FOREX.com powerful trading platform and how you can get started today. Slippage, or the unexpected difference in an exchange rate specified in a stop order or market order, can be either negative or positive. When the trader loses money, slippage is negative, whereas when positive, the trader receives a fill at a better rate than the prevailing market. worldtradex’s slippage was reported as +87% positive or zero in its July 2021 Slippage Statistics. But finding a good Forex broker can be difficult because there are so many to choose from.
REST (Representational State Transfer) API is a web-based API using a Websocket connection that was developed with algorithmic trading in mind. Developers and investors can create custom trading applications, integrate into the platform, back test strategies and build robot trading. ✅Cryptocurrencies – Traders are allowed to trade five distinct cryptocurrencies, providing an entry point into the dynamic and expanding crypto market.
Does worldtradex offer educational tools for investors?
The broker does not impose charges for deposits and most withdrawal methods, which can significantly reduce the overall trading costs for clients. This fee structure is especially beneficial for traders who frequently move funds in and out of their trading accounts. This can vary depending on the provider and the geographic location, so traders should consider these potential additional costs when planning their financial strategies. For a full breakdown of fees and costs, see the worldtradex account opening details.
Other trading platforms
I also feel like some of the ZuluTrade strategies are quite high risk, utilising potentially dangerous grid trading and martingale money management. Therefore, it is imperative to do your own due diligence before copying any traders. Available for both Android and iOS, the copy-trading app enables you to access the markets and manage your account anytime, from anywhere. worldtradex is known for its minimal non-trading fees, enhancing its appeal among traders.
Trader protections by territory
Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. worldtradex obtains its pricing from premium liquidity providers which includes global banks and financial institutions. Some of them are Barclays Bank Plc, Citibank N.A, Deutsche Bank AG, Jefferies Financial Services, etc. worldtradex’s price engine examines the price feed from the liquidity providers and selects the best price.
The commodities list for this broker is quite small, so only expect to trade gold, silver, oil, natural gas, and copper. At least these are the only details they provide you with, then visiting the relevant page. worldtradex don’t apply any fees on withdrawals and the processing is Worldtradex forex broker in line with industry standard timings.
You can join the thousands of people who now trade in this hassle-free way with this broker. Browse from a range of proficient traders with proven trading record, find a Trader to match your risk appetite and simply Follow their strategy. You can check the performance of your portfolio and individual Traders inside ZuluTrade platform. Just keep in mind that there is no guarantee on how the trading signals will perform and historical performance is no reflection of what will happen in the future. I actually prefer to maintain control over my own trading as I think this is the best way to learn from your mistakes and become a better trader.
Is worldtradex A Good Or Bad Forex Broker?
There is not much in the way of trading resources and only a signup bonus for special promotions. One thing worldtradex has in terms of customer support that many other brokers do not have is international customer support phone numbers for many regions, as shown in the image below. However, this may be different depending on your region and the website you visit. It should also be noted that this broker does not have a FAQ section or any other form of support.
No, worldtradex does not accept clients from the United States due to regulatory restrictions. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. ✅After the broker processes the withdrawal, the money will typically be sent to your bank account in two business days. ✅Enter the amount you want to deposit and your card’s data, including the number, expiration date, and CVV code. The specific broker levies a $50 yearly inactivity fee to customers who have not traded in the previous 12 months.
They are a global trading broker with offices in London, Johannesburg, Hong Kong, Athens, Paris, Sydney, Berlin and Milan. worldtradex offers reliable customer support, available 24 hours a day, 5 days a week. Traders can reach the support team via multiple channels, including live chat, phone, and email. worldtradex’s customer service is known for being responsive and helpful, assisting traders with account-related inquiries, platform guidance, and technical support.
- By eliminating commissions, the cost analysis for traders is simplified, allowing them to focus on potential profits and losses with greater ease.
- This product is unique to worldtradex and is formed of a combination of cryptos, Bitcoin (BTC/USD), Ether (ETH/USD), Ripple (XRP/USD), Litecoin (LTC/USD) and Bitcoin Cash ABC (BCH/USD).
- It’s a type of insurance that covers a forex trader from losses exceeding their account deposits.
- Overall, This Broker is considered low-risk, with an overall Trust Score of 96 out of 100.
- As noted in the introduction, worldtradex is a trusted forex broker that has been operating for 20+ years.
Then the active rebate account that worldtradex offers its clients requires fulfillment of a trading volume in excess of 10 million USD per month. Moreover, this is tied to the standard account that all clients will open and only becomes available once these quotas are met. Overall, the trading resources and educational material of worldtradex are quite basic and are lacking in many areas compared to the top forex brokers we have reviewed. Many brokers like ZFX and worldtradex have top quality trading resources and education available to everyone. This is something that worldtradex needs to look into, especially since they were established in 1999.
Our reviewers were particularly impressed by some of the specialist indicators in the Trading Station package. The SSI tool proved an effective double check which was particularly useful at time of trade. The NinjaTrader platform scored highly in terms of presenting tools in a way that encouraged strategy ideas. They are a broker who have been around for years and are regulated in multiple jurisdictions which gives me comfort that I can trust them with my funds.
worldtradex no longer accepts U.S. clients because it had to pay $7 million in 2017 and give up its registration with the U.S. Commodity Futures Trading Commission (CFTC) for failing to disclose a deal with a market maker to its clients. The broker then sold its substantial number of U.S.-based accounts to Gain Capital that operates FOREX.com, so U.S.-based traders might consider using that broker instead. Should you decide to register with worldtradex after reading our review, you’ll benefit from a speedy sign-up process, multiple trading platforms to choose from, and convenient depositing methods.
✅Free Online Live Classroom – The broker provides live online lessons to help traders learn straight from market pros. These involve live market analysis, question-and-answer sessions, and trading strategy demos. Within this particular account framework provided by the broker, traders gain access to various markets, encompassing cryptocurrencies, currencies, commodities, and indices. This tailored solution caters to investors pursuing opportunities spanning diverse asset classes.
We have evaluated more than 400 forex brokers and worldtradex scores well when it comes to trading fees. When it comes to forex trading, compliance and regulation are of utmost importance. These regulatory bodies enforce strict financial standards on worldtradex, including capital adequacy requirements, and have the right to fine firms and terminate their regulatory status for violations.
