Clients can opt to trade using ECN portals, which take the quality of execution up a level. The choice of trading platforms means users can select the best fit for them. It’s good to see worldtradex offer MetaTrader 4 as it is one of the most recognised trading platforms for retail forex Worldtradex cheating traders in Malaysia thanks to its advanced charting tools. I like that out of the box you have access to 30+ technical indicators from moving averages to Bollinger bands and 24 analytical objects making on-chart technical analysis simple. Deposits made to trading accounts must therefore be made from bank accounts in your name only.
Tradovate Review
worldtradexFX is a well established forex and CFD broker that has undergone some serious global growth over the past few years. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community.
The fact that worldtradex offers an almost institutional-grade trading experience doesn’t mean beginner traders are in any way disadvantaged. Quite the opposite; the firm simply offers reliable, fast, low-cost trade execution using market-leading platforms. Those looking to develop their skill set or improve their trading technique can draw on the support on hand, which is designed to cater to beginner intermediate and experienced traders.
- The 50% bonus is more applicable to experienced traders or those confident in a long-term relationship with the broker.
- From this Wallet, you can transfer it to any of your trading accounts.
- Higher account statuses (Silver, Gold, Platinum) help you earn prize lots faster.
- The referral program known as Invite-a-Friend has its commission rate to be 1$ per 1 standard lot.
worldtradex Review Conclusion
For beginner traders, the availability of support in multiple languages is a key benefit, ensuring that assistance is easily accessible. Filippo Ucchino is the founder and CEO of the brand InvestinGoal and the owning company 2FC Financial Srl. Filippo Ucchino started his trading career in Forex trading in 2005.
ABOUT BROKERCHOOSER
Added to that the fact they do only offer a limited range of base currencies and not many deposit or withdrawal methods and you can see the limitations of this otherwise popular broker choice. worldtradexFX is a financial broker with more than 40 million accounts opened on it. In general, I enjoyed trading there, no limitations on assets and platform, easy payments, I consider this broker service trustworhty and convenient for me.
Like the MT4 platform, this platform allows you to trade on a computer, and mobile, either on iOS or Android. Traders looking at the pro account will have access to the slightly more advanced MT5 platform. The layout for this is different to the MT4 platform so there will be a slight learning curve. For example, the winner of the Champion demo contest will win $1,000 which will be credited to your account.
- The broker’s primary regulation is provided by entities in reputable jurisdictions, ensuring that their services adhere to high standards of safety and fairness.
- worldtradexFx boasts of a spread floating, starting from as low as 0.6pips.
- Through InvestinGoal, Ucchino helps users navigate the world of online investing and trading by providing trading guides, best brokers rankings, broker reviews, and broker comparisons.
- With a rating of 4.4 out of 5 after 3.9K+ reviews, the company reputation speaks for itself regarding legitimacy concerns.
Review Methodology
For example, when we attempted to close 0.3 lots from a position of 0.5 lots, the entire 0.5 lots were closed, and a new position of 0.2 lots was opened instead. However, when we performed the same operation for the same MT4 account from the worldtradex app, we found that this partial closing was allowed. During our testing, we confirmed that no swap fees are charged for maintaining open positions not only overnight but also during the weekend for several days.
Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. worldtradex is an up-and-coming broker that has been in operation for nearly 10 years. Its growth has enabled worldtradex to continue to expand its products and services. Adding additional regulatory licenses in Tier-1 jurisdictions would be a step toward winning more client trust.
It is the perfect opportunity to trade in a no-risk environment with virtual funds, but which also perfectly replicates live trading. It is the ideal way to get to know more about a broker or the industry. Furthermore, your funds will always be held in segregated accounts with top-tier banks when you trade with worldtradexFX. This means that no matter the financial situation of the broker, your funds will always be safe.
One question that arises during the review is what happens with the bonus (credit) if the account balance falls below zero. In such cases, if the account balance turned negative, the credit from the bonus would be automatically cancelled, preventing the account from going negative. Scalping, hedging, and the use of expert advisors (EAs) for algorithmic trading are permitted. For instance, arbitrage trading is prohibited under their Customer Agreement. Research tools provided by worldtradexFX include a well-detailed economic calendar which keeps you updated with all significant economic events and how they may impact you. It also provides for detailed analysis with market reports and more to offer.
This is because European forex laws allow brokers that are licensed in a country within the EU to service clients anywhere within the https://worldtradex.club/ European Union. Yes, worldtradex is legal and regulated across multiple jurisdictions covering the EU and Asia. For the EU, it is regulated by CySEC which is a Tier-1 authority and for the rest of the world you will be regulated by MAS or MISA. By being regulated across multiple jurisdictions it allows worldtradex to provide retail financial services to traders across 180 countries.
They claim that a small percentage of clients actually contact customer support as their services are usually smooth and reliable enough. However, should you need them, they are there to answer your general and technical questions in a prompt and efficient manner. I have always found them to be reasonably quick to respond but think they could improve by extending hours to 24/7 support. Here you will find daily trading ideas based on complex technical and fundamental analysis across a range of different trading instruments. There are also daily and weekly forecasts that cover the financial markets in great detail. These market insights can help identify trading opportunities and assist with your market analysis.
The most I liked was the MT5 trading platform with its advanced indicators. You can diversify your portfolio with the broker offering gold, silver, crude oil and other commodities. Other notable tools include widgets that clearly display live quotes, interest rates and national holidays. Overall, the broker has plenty of tools for everyone to see some benefit. These two minor points do not detract from the trading experience, and worldtradex can be congratulated for so effectively shaking up the broker space.
FTD 50% Bonus
Any profits that exceed this funding level will need to be received through an alternate method like bank wire or e-wallet. We’ve gone through the basics, but now we want to highlight what makes worldtradexFX accounts different from the rest. These requirements can be seen as buffer funds and they must be substantial.
This broker does not charge its traders with any commission outside of trading for depositing and withdrawing funds. Also, there are no swaps on the MT5 and worldtradextrader platforms from the broker. Furthermore, the spreads starts from 0.6 pips on different accounts; However, it depends on the instrument or the trading pair. For traders who want to practice before committing real money, worldtradexFX offers a free demo account. The demo account is fully functional and provides access to $10,000 in virtual funds, enabling users to test their trading strategies in real market conditions.
worldtradex Markets Incorporated is based at Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines. worldtradexFX is licensed and regulated by FSA SVG license number #19776 IBC 2011. Read our full explanation and accounting of our research and testing process to learn more about how we test.