My Experience with worldtradex Global Account Types: A Closer Look

Founded in 2010, the company has attracted a large user base by providing innovative trading solutions and access to various markets. You will find that their commitment to customer service and education sets them apart, making them a notable choice for your trading needs. Clients must contact the broker’s customer support to request further assistance. I have compiled the table below to help you better understand the difference between the trading fees with worldtradex’s No Commission account type and the industry average.

This is unusual and not consumer-friendly, as most brokers publish their withdrawal and deposit fees on their websites. worldtradex offers a wide range of deposit and withdrawal methods, and while no fees are charged for most methods, withdrawals by bank wire transfer are expensive. worldtradex supports two execution models and a range of account options – four instant execution accounts and three market execution accounts. A drawback for beginner traders considering worldtradex is the lack of educational and market analysis materials available, forcing traders to self-educate with other third-party platforms. Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research.

Customer Support Channels

worldtradex has excellent credibility within the industry, having won over 40 awards since its inception. Reviews of worldtradex highlight both positive and negative experiences that can influence your decision to trade with them. Although the firm operates under different licenses across jurisdictions, your safety as a trader should remain a priority. Understanding the regulatory framework that surrounds worldtradex is crucial when considering them for your trading activities. The values listed below are for one full base currency contract (100,000 units).

• Phone support is only available to active clients with their account managers.
• I asked a series of questions with varying degrees of difficulty and determined that the agent’s answers were swift and comprehensive.
• According to the terms of the withdrawal, you can receive only the deposited amount via the payment method.
• Deposits made in different currencies are converted to the base currency of your trading account at prevailing exchange rates.
• worldtradex has an excellent reputation and is one of the industry leaders in the world of forex trading.

The mobile applications for MT4 are fully featured and highly rated, so there should be no issue. Customer support is available 24/5, in 30 different languages to support clients from over 180 countries in Europe, Asia, the Middle East, Africa, and Latin America. Compared to other similar brokers, worldtradex’s account opening process is fast, generally hassle-free, and fully digital. We suggest you read worldtradex’s risk disclosure, customer agreement, and terms of business before you start trading.

• His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis.
• The Micro Account is ideal for beginners due to its low minimum deposit of $100, making it accessible for traders with smaller capital.
• worldtradex offers a robust mobile trading app that is available for both iOS and Android devices.
• In the case of Forex instruments, the amount charged depends on both the positions taken (i.e. long or short) and the rate differentials between the two currencies traded.

Overview of worldtradex Account Types

We remain committed to offering competitive conditions and superb services which are recognised by the industry. If you need help, just contact our customer support at   or use the live chat in the bottom-right corner. Trading financial products carries a high risk to your capital, particularly when engaging in leveraged transactions such as CFDs. It is important to note that between 74-89% of retail investors lose money when trading CFDs.

You should thoroughly read user reviews to gather insights that reflect your trading expectations and priorities. 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. Beginners may prefer the Standard account as it requires a lower minimum deposit and offers no commissions. ECN and VIP accounts are ideal for more experienced traders, offering lower spreads and additional features such as commission charges.

Contracts for Difference (CFDs) are financial derivative instruments that allow traders to speculate on the price movements of an asset without owning the asset itself. The MetaTrader app stands out for its convenience, making it an essential tool for adjusting trades, especially during periods of heightened volatility. However, I consider it cumbersome and not the best choice for analyzing price action. You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades. However, its dated and rugged design is inferior to newer and sleeker platforms. As a trader who prioritizes flexible charts that are easily scalable, I find MT4’s charting capabilities too rigid and less effective.

Live Floating/Live Fixed Spreads

It introduces traders to the broker’s services and allows them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to Worldtradex forex brokers reviews hone your skills in a safe environment. You can set up a demo account for yourself prior to or alongside your live CFD account. worldtradex offers a variety of trading instruments that allow traders to diversify their portfolios. These instruments include forex, stocks, commodities, indices, and cryptocurrencies, making worldtradex a versatile broker for a wide range of trading strategies.

This account type is ideal for high-frequency traders seeking optimal pricing. worldtradex operates under multiple regulations, including oversight by authorities such as the Cyprus Securities and Exchange Commission (CySEC). However, it has faced regulatory challenges in the past, which raised questions about its operational transparency and customer service standards.

worldtradex’s Trading Instruments

All withdrawal requests from a trading account will be funded to a bank account or source in the trader’s name. Founded in 2010, worldtradex maintains regulatory oversight from CySEC, ASIC, the FCA, and the FSCA, an impressive list of highly regarded regulators. Trading is offered on multiple assets, including commodities, indices, metals, futures, shares, and over 80 Forex pairs, a larger range than is typically seen at other brokers. Despite its growing popularity, worldtradex has both strengths and weaknesses you should consider. Understanding these can help you navigate your trading experience effectively.

worldtradex provides free Virtual Private Server (VPS) hosting, helping traders achieve ultra-fast order execution speeds and diminish the risk of negative slippage. Another perk for scalpers is the one-click trading feature available on MT4. However, the platform has cumbersome charts and lacks a timeframe lower than 1 minute. worldtradex is an ideal choice for news traders because of its comprehensive market research offering.

Customer Support

While worldtradex claims to support ten trading platforms, it does rather lack the variety in trading software that other online brokers typically provide and that would result in a better review. All platforms come without charge, however, broker provides educational material on how to get them running. Broker also allows you to use third party trading robots and automate your own trading plan, which you can implement using MT4. Spreads vary from as low as 0.5 to 1.7 for live floating spreads with EUR/USD or 1.6 to 2.8 for fixed spreads, depending on account type. ECN and Zero Spread accounts have no spread and charge a commission based on the number of lots traded instead.

The app has received good reviews on both the App Store and Google Play, making it a reliable choice for traders who prefer trading on their mobile devices. While day traders and scalpers should not have to worry much about swaps, those who use longer-term trading strategies can incur this potential extra charge. AutoTrade lets you automatically “mirror” or copy another trader’s transactions who then gets paid a small part of the dealing spread. worldtradex offers an extensive choice of Contract for Difference (CFD) instruments. The broker’s wide range of CFDs include those based on an extensive list of forex pairs, in addition to commodities, indices, futures and over 100 individual stocks. Also offers zero-commission trading for UK residents with fairly competitive dealing spreads that can either be fixed or variable, depending on the account type you select.