worldtradexFX Review Pros, Cons, Key Features and FAQs

Here are few more additonal features that are available aminly on Intrrnational branch. worldtradex customer support provides its clients with 24-hour live support available through live chat, email, and phone support in various languages. Both Live Chat and Email are available in various languages including Bengali, Chinese, English, Hindi, Indonesian, Malay, Portuguese, Spanish, and Thai languages. worldtradex Cyprus entity together with its operations established under ESMA rules offers lower leverage levels as defined by the regulator. This means that European traders or those clients that are registered with worldtradex European entity will fall under ESMA regulation Leverage.

How do I qualify for the worldtradexFX VPS service?

Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters. It has operated under various licenses, including one from SVG, ran a branch in the UK, but stopped it in 2017 and chose Cyprus as its next base. Had bad service, struggled to get your money back or some other action which you believe isnon compliant? Tell us and if we have the right information, we will actively support your case through mediation with the broker.

Swap-Free Account Fees

worldtradexFX charges mark-up on spreads, which covers worldtradexFX’s cost for facilitating the trade. Yes, worldtradexFX allows multiple accounts, but certain terms and conditions apply. This high level of competiveness in terms of fees and charges helps worldtradexFX regain an edge from some other areas where they are not quite as competitive with other major brokers. All three brokers have good global regulation – worldtradexFX is regulated in Cyprus, FXTM is regulated in Cyprus and Mauritius, and Exness is regulated in the UK. When comparing worldtradexFX to FXTM and Exness, there are a few key factors I looked at to determine which broker might be best for beginner traders. The worldtradexFX team is very knowledgeable about forex and all the technical aspects of trading.

A nice feature I liked was the order ticket showing your potential profit and loss in monetary value compared to just in pips like other platforms. This is a useful feature if you’re new to trading as you’ll know your monetary risk instead of guessing with a pip conversion which could lead to mistakes and over-risking your trades. The worldtradexTrader has the least options for technical analysis too with 19 indicators, 11 drawing tools, and 7 timeframes. However, after testing I found the platform covered the top indicators like volume and moving averages along with Fibonacci retracement tools. Out of the options available, I think MT5 is the best option with worldtradex as it has the most technical features while also offering all of the broker’s financial products.

Furthermore, the well-received mobile application provides traders with a convenient way to monitor their investments away from a trading terminal. We also found that worldtradexFX is highly regarded for its user-friendliness and sophisticated trading tools, making it appealing to both novice and experienced market participants. worldtradexFX provides an exclusive cashback rebate scheme for UAE traders, allowing them to recoup some of their trading costs. MT4, MT5, and worldtradexTrader users can earn rebates ranging from $4.80 to $8 per lot, regardless of trading results. When depositing or withdrawing AED to or from accounts denominated in USD or EUR, Emirati traders may incur currency conversion fees.

Your commission is calculated as a percentage of your trading volume. Furthermore, the program provides many marketing tools to help affiliates promote worldtradexFX more effectively. Affiliates can earn up to 50% of worldtradexFX’s revenue share under the terms of the agreement. The worldtradexFX Affiliate Program’s user-centric design is one of its most notable features.

Trading tools

The worldtradexFX mobile app is available for both iOS and Android devices. It allows users to access their trading accounts, place orders, and manage their portfolios on the go. The app has received positive feedback for its intuitive interface and responsive performance. As a beginner trader, it’s essential to know the variety of instruments available to trade. worldtradexFX provides a wide range of trading instruments, including forex, commodities, and cryptocurrencies, making it easy for traders to diversify their portfolios.

No, account verification is required before you can begin trading. Yes, worldtradexFX requires identity and credential verification before activating an account. Before engaging in actual trades or investments, this feature is especially useful for those seeking to increase their proficiency levels through simulated practice.

worldtradex Main Features

The Autochartist plugin for MetaTrader provides real-time trading signals to your terminal, shows chart patterns and trends online, and allows you to receive daily Market Reports via email. Daily and weekly forecasts in the Market Insights section preview the key economic data ahead and highlight the major market movers. The reports cover significant support and resistance levels and technical signals from indicators such as MACD and Parabolic SAR. The research section also includes specific trading ideas, target prices, and key price levels to watch.

• This means that you can never lose more money than the balance of your account.
• Before deciding to trade in any kind of financial market or financial instruments, you should carefully consider your investment objectives.
• He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
• worldtradexFX is a global forex and CFD broker that has garnered attention for its accessibility, comprehensive trading tools, and reliable customer service.
• It was awarded ‘Most Reliable Broker Asia 2023’ and has a high trust score according to user reviews.

worldtradexFX Base Account Currencies

The range of available CFDs on indices is also better than average. In addition, when trading with a broker authorized by CySEC, client funds are protected by the Investor Compensation Fund (ICF). ICF protects client accounts for up to €20,000 if a firm becomes insolvent. A trader working with a broker entity regulated offshore would not necessarily have these benefits. The 50% bonus is more applicable to experienced traders or those confident in a long-term relationship with the broker.

I like that worldtradex provides a variety of trading platforms that all trading styles can use, making the broker a versatile option to benefit from the lower trading costs. Whether you’re a beginner with worldtradexTrader’s market analysis tools, automate your trades with MT4’s EAs, or day trade with depth of markets tools on MT5 there is something for everyone. You will also learn in detail how to open an account with AvaTrade and all the assets that can be used as investment vehicles. The cTrader trading platform is designed specially for electronic communication networks ECNs, and offers direct STP access to currency trading markets. STP (Straight-through processing) is basically done through electronic transfers.

• In our worldtradexFX Broker Review, we found that the fees and commissions are structured differently according to account type.
• Fill in the necessary information, select your account type, and finish the registration process.
• worldtradex does not charge fees for deposits or withdrawals, nor does it impose commissions on trades.
• Another program offered by worldtradex is a tiered loyalty program (without fees), where traders advance through categories based on their account balance, gaining access to benefits and rewards.

In my tests, I received speedy responses—the same day for email and a wait of just a few seconds for live chat. Despite the lack of phone support, I rate worldtradex as average in this category. Trading costs such as spreads are clearly explained on the Spreads and Conditions page. To read the fine print, traders can find the Customer Agreement in the footer of the website. The About Us page does a good job of sharing the company’s mission and history through a series of milestones over the years. As stated on their website, over 21 million trading accounts have been opened across 180 countries with worldtradex.

In 2012, it started organizing courses, and in 2013, it introduced its first bonuses. As part of its expansion, worldtradex launched a program for Introducing Brokers in 2014 and introduced the cTrader platform (currently unavailable). Since 2016, the MetaTrader 5 platform has been available, coinciding with the launch of educational content. In 2017, Autochartist was introduced, along with cryptocurrency trading and the first proprietary apps with market information, which would later evolve into the worldtradex app in the following year. In 2019, worldtradex announced that its MT4 and MT5 accounts would not incur swaps or any type of commission.

The worldtradexFX broker has several licenses, which bring some great benefits for traders. worldtradexFX Holding plc is regulated by CySEC (EU), which can give you maximum benefits. There is a huge potential for limited independent business without any leverage. worldtradex does a commendable job of offering educational and research materials to its users, though room for improvement Worldtradex website and expansion still exists compared to some industry leaders.

worldtradex is an international broker providing online trading services since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 160 countries with more than 42 million trading accounts. For traders who want to practice before committing real money, worldtradexFX offers a free demo account.