This broker charges no fees on currency conversion during deposits and withdrawals. However, with deposits in currencies other than the USD, the payment provider on conversion of the funds to dollars using their internal exchange rate may charge additional fees. Naturally, it provides Level II quotes, server trailing stops, single-clicktrading and sophisticated charting options. It utilizes cloud servers to backup accounts and keep a centralized tab on all of them. worldtradexFX allows traders to select from a number ofplatforms for the biggest cross-section of trading preferences and levels. Thisplatform has a very easy to understand setup and offers inbuilt expert advisorsas well as customizable indicators.

Fraud forex trading app case: ED questions 2 TV actors

These accumulated funds, after “defrauding” these investors/users, were transferred to multiple e-wallet accounts or to bank accounts of dummy entities, it claimed. The range of tradeable assets is diverse enough for my trading needs, though adding a few more might appeal to broader audiences. I’ve had uninterrupted trading experiences both on the desktop and mobile apps. worldtradexFX’s comprehensive asset offerings signify its commitment to providing diverse trading opportunities.

The broker claims to offer competitive spreads as compared to other forex brokers. Depending on the market’s volatility, clients can expect to pay a minimum spread of 0.6 pips on trading pairs like GBP/USD and EUR/USD. Commodities like Gold and Silver are on the other hand, tradable on spot for a minimum spread of 1.9 pips and 2.0 pips respectively. When choosing my account the broker offers three options which are essentially the same Standard account but used for different trading platforms. I think worldtradex is a solid option as it provides excellent features that I think will appeal to a variety of traders.

MetaTrader 4 automated trading

• worldtradexFx employs state-of-the-art technology and advanced security protocols, which includes SSL web encryption and two-step authentication to protect clients’ confidential data.
• In line with this transparent approach, it also provides a range of metrics relating to the performance of its customer support team.
• It is regulated by the FSC in Mauritius, the Mwali International Services Authority (MISA), and CySEC for European traders.
• With cTrader, users can trade directly with prominent banks globally.

With worldtradexFX every asset except for crypto is available for trading on a 24/5 basis, Monday – Friday. This applies to all markets including forex, commodities, and cryptos. If you are outside the EU, then you will have access to the MT4 Micro account type. Here, if you have a USD base currency account, you can opt for fixed spreads that start at 2 pips on certain forex pairs.

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. In my case it was the MetaTrader 5 platform, however, I found that once your account is open you can select different platforms from within the dashboard. Withdrawing from my account was also fast, according to my account manager each withdrawal takes roughly 2 hours to get approved. Once approved you can expect the funds to be in your bank account/wallet within 30 minutes which is extremely good service in my opinion.

Founded in 2011, worldtradex holds a regulatory license in Europe via its Cyprus-based entity – worldtradex Markets Cyprus Ltd – which is regulated by the Cyprus Securities and Exchange Commission (CySEC). In South Africa, worldtradex provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). worldtradex has made great strides with innovation in its web platform, and new educational content, but offers a limited range of tradeable instruments compared to the best multi-asset brokers. worldtradex may be best suited if you are new to trading and live in a region where you require support in non-English languages, such as Southeast Asia. Web and mobile trading platform worldtradexTrader enables you to diversify and upgrade your trading. You can also create accounts on the MetaTrader 4 and MetaTrader 5 platforms to trade Forex, cryptocurrencies, and other instruments.

Open an MT5 account to trade on 230 instruments enjoying the platform’s advanced tools and worldtradex’s excellent trading conditions. For withdrawal requests, the processing time is almostinstantaneous and validated through an email. This ensures that we accurately convey facts and events so that investors and traders can read our content with confidence and make informed choices.

How much are Trading Fees with worldtradexFX?

In the end, worldtradexFX offers a solid trading experience for those who value affordability and ease of use. Whether you’re new to trading or just looking for a cost-effective broker, worldtradexFX is definitely worth a closer look. worldtradexFX uses advanced encryption technology to protect your data and funds. Additionally, segregated accounts are used to keep client funds separate from the company’s operational funds. While it’s not the most tightly regulated broker, it has a good track record for reliability.

However, I would like to see other Tier-1 regulators like the Australian Securities and Investments Commission (ASIC) or the Monetary Authority of Singapore (MAS). Amongst the new features and platform improvements, you can still automate your trades with MetaTrader 5 and Expert Advisors. If you are interested in Worldtradex cheating automating share CFDs, MT5 is the only platform on worldtradex to provide this.

Deposit Bonus – Receive a 100% Bonus on Deposits (Max Bonus $5, . Bonus credited after required lots are traded.

In the case of bank transfers, all requests are processed within 1–3 hours during the working time of the broker’s financial department. However, deposits via Skrill, Neteller, Visa, Mastercard and crypto are instant. Below is a tabular review of the various deposit methods and the processing time. It allows clients to learn and try multiple risk management strategies without any deposit.

With us, you’re not just restricted to one or two choices; we bring to your fingertips the opportunity to profit from 10 of the globally recognized indices. This list includes the iconic Dow Jones, the tech-heavy NASDAQ, Japan’s premier Nikkei, and the European benchmark, Eurostoxx 50. One of our standout features is the provision of negative balance protection. So, in the unlikely event that your investment faces a substantial risk and your balance turns negative after an unfavorable order, we’ve got your back. We’ll reset your balance back to zero, ensuring you’re never in debt.

Moreover, the support representatives are trained to address both technical and account-related queries effectively. With timely follow-ups and a commitment to your satisfaction, you can feel confident that any concerns you have will be met with thorough attention and expertise. One aspect to watch out for is worldtradexFX’s non-trading fees, which can impact your overall trading experience. It’s important to recognize fees related to withdrawals, inactivity, or account maintenance, as these can accumulate over time.

• The first, and best place for most traders to get started is an worldtradexFX demo account.
• Your bank may also charge you a commission or fee on wire transfers, though there is no fee directly from the broker.
• While worldtradexFX claim that it uses tier-1 banks for client deposits, we could not find the actual names of the banks on any of its publications.
• Bitcoin and cryptocurrencies can be traded on worldtradexFx but not bought outrightly.
• 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.

One of the unique features of worldtradexFX is that all three accounts, including the ECN account, charge no commissions to traders and fees include only spreads. Additionally, be aware of inactivity fees if your account remains dormant for an extended period. Understanding these factors can help you make informed decisions and maximize your trading returns. To keep your trading costs manageable, worldtradexFX provides various account types with differing spread structures. You’ll find that some accounts offer fixed spreads, while others feature variable spreads.

Get MetaTrader 5 to trade like a pro with worldtradex

This lets you adapt your charts depending on your strategy, whether you use multi-time frame analysis or are a scalper with tick charts you’ll find it easy to switch on MT4. Our broker reviews are reader supported and we may receive payment when you click on a partner site. worldtradexFX provides more information about its operational risk management than it does about its regulatory framework.

I think this is a sweet spot for the majority of traders unless you are seeking less popular markets or specific stocks to trade. worldtradex scored highly in my trust test with 12 years of industry experience and licences from CySEC, MSC, and MISA delivers a secure and transparent forex broker. I think the broker’s trust is supported by its 60+ awards from the forex industry and 8,000+ positive TrustPilot reviews demonstrating that its clients are happy with its operations. The copy trading platform is also a bonus, which is the perfect opportunity to mirror the trades of 1,500 traders and leverage their experience to profit from leveraged markets. I opened an MT5 Trading Account to test the broker’s trading conditions and I was impressed with the spreads worldtradex supplied.

You can develop your own set of rules for trade entries and exits with the help of automated trading robots (Expert Advisors), which help avoid instinctual blunders while trading. As the system trades mechanically, based on predetermined conditions, your performance won’t be affected by emotions. Automated trades are also executed much quicker, leading to a decreased chance of slippage. Choose from 300+ trading instruments, including shares, commodities, and indices.