One operates out of Vanuatu, where international clients have a trustworthy and competitive trading environment. worldtradex also maintains a presence in Cyprus for EU-based clients under the uncompetitive ESMA regulatory framework. The swift online application at worldtradex requires a name and e-mail. Clients may also use their Facebook or Google accounts to open an account. Since worldtradex is a regulated and fully compliant broker, new traders must pass account verification per AML/KYC stipulations.
The broker may enact a margin call if you don’t ensure enough capital is in your account to keep your trades live and meet the leverage requirements. Your broker is subject to the financial authorities’ rules where it’s based. Still, the broker might alter its leverage and margin requirements further depending on how volatile a currency pair is.
The amount of leverage you use depends on your preferred trading style and how aggressive your trading is. Our UK team takes a methodical approach to reviewing online brokers. As well as evaluating a broker’s product portfolio, fee structure and trading tools, we consider the availability of GBP-denominated accounts, the presence of UK-based customer support, and FCA authorisation.
Key benefits of FX trading through worldtradex’s ECN – STP model:
- I like how tight spreads they provide on the forex market and the spreads are even more tighter than from other major and famous brokers.
- Once you take the leverage on offer from your broker, you must meet the obligation of this liability.
- One of the most ignored trading costs is swap rates on leveraged overnight positions.
- Bank transfers are subject to a US$500 minimum threshold and incur fees in excess of US$30.
- Compare worldtradex with the top 3 similar brokers that accept traders from your location.
- worldtradex offers various account types for both experienced and new traders.
worldtradex elevates mobile trading with the MT4 app on iPhone, iPad, and Android, perfect for traders with its reliable, advanced charting featuring 30 indicators, 9 timeframes and 3 chart types. It’s incredibly easy to dive into trading on the MT4 app through an worldtradex account, with just 3 simple steps. The app offers the flexibility to trade a great selection of over 70 currency pairs and other popular markets on the go.
What is free margin in Forex?
Accepted deposit and withdrawal methods include Visa and MasterCard credit and debit cards, bank wire transfer, Skrill, Neteller and crypto transaction service BitPay. All deposit methods are free and several options involve no minimum deposit. worldtradex is an offshore broker established in 2010 by foreign exchange market professionals. worldtradex supports the MetaTrader 4 platform, made popular through its support of trading robots. worldtradex welcomes all trading styles, including hedging, scalping, and arbitrage, and places no restrictions on your use of Expert Advisors.
- worldtradex supports the MT4 mobile trading platform that provides excellent trading features you can also enjoy when using the MT4 desktop platform.
- worldtradex deploys an ECN/STP execution model and does not manipulate quotes.
- You can also access the worldtradex MT4 platforms on Android and iOS smartphones and tablets.
- Your trading style will greatly dictate your use of leverage and margin.
worldtradex Broker Review
There are no deposit fees, but several withdrawals face internal charges while third-party processor costs may also apply. While an worldtradex no deposit bonus does not exist, worldtradex offers a 100% first deposit bonus with a $2,000 limit. Terms and conditions apply, and I urge traders to read and understand them before accepting the incentive.
While clients can access five precious metals contracts, covering gold, silver, palladium and platinum spot markets, there are a mere two energies markets (UK Brent oil and US Crude oil) and no soft commodities. However, profits can only Worldtradex scammers be withdrawn to a bank account or a crypto wallet. Bank transfers are subject to a US$500 minimum threshold and incur fees in excess of US$30. worldtradex’s trading account is also available without a swap, upon request. Open your account online and contact your account manager for more information.
Unique Features
worldtradex does not have a proprietary mobile app, though MT4 can be downloaded to Android and Apple devices. The mobile application has proven to be stable and reliable during testing. worldtradex’s limited research and technical analysis tools are disappointing, especially given how useful these tools can be for discovering trading opportunities. Withdrawals at worldtradex are also disappointing, with all methods besides cards and wire transfers incurring a percentage withdrawal fee that can reach a hefty 3.4%, depending on the method. Wire transfers incur a $30-$45 flat fee (minimum limit of $500), many times more than the $5 withdrawal fee at eToro. Importantly, all deposits are fee-free, and e-wallets like Skrill and Neteller process within an hour, compared to 5-7 working days for wire transfers.
What is leverage in forex trading?
Yes, worldtradex is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is considered a low-risk trading broker. While St. Vincent & the Grenadines is an offshore zone with less strict financial regulations, worldtradex is still considered safe to trade with due to its authorization by the European regulator. worldtradex is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs.
In addition, both new and existing worldtradex clients can take advantage of a free virtual private server (VPS) for round the clock automated trading. Our License Checker verifies the validity of EU, UK and UAE broker licenses in near real-time. The choice of payment methods depends on the company that you open an account with, and your country of residence. Please visit the company’s website for a list of all payment methods.
worldtradex is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes. worldtradex supports the MT4 mobile trading platform that provides excellent trading features you can also enjoy when using the MT4 desktop platform. Not only can you select from a wide range of charting tools and technical indicators with this app, but you also get real time market pricing.
How do I withdraw money from worldtradex?
I’ve personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. As this broker offers consistently low spreads, it is possible to enter and exit trades several times a day, to take advantage of even small price swings. However, you should be aware that a $5 mark-up per lot will apply if you open an account through us.
Consult relevant financial professionals in your country of residence to get personalized advice before you make any trading or investing decisions. DayTrading.com may receive compensation from the brands or services mentioned on this website. Compare the markets and instruments offered by worldtradex and its competitors. Please note, some markets may only be available via CFDs or other derivatives. Besides the very frustrating withdrawal charge, worldtradex’s non-trading fees include a $5 inactivity fee charged after 120 days of dormancy.
While many forex traders are familiar with the MetaTrader 4 software, which allows for expert advisors that can automate your trades, no other trading platform is offered. If you have a broad range of assets that you trade, such as international stocks, bonds or other equities, you might want to consider an international broker that provides these services. In addition to access to daily market analysis and market education resources, you can get a 100% first deposit bonus of up to $2,000 when you https://worldtradex.site/ open an worldtradex XL account. If you want to check out this broker’s services and trading platform, just open a free demo account with no minimum deposit.