The competitiveness of worldtradex’s fees depends on the asset classes traded. For instance, I found the combination of scammed by Worldtradex commission-free trading and generally low spreads on share CFDs extremely favorable. worldtradex does not charge a handling fee for deposits and withdrawals, though third-party banking fees may apply.

Fees

The platform’s multilingual support and diverse deposit and withdrawal options further contribute to its appeal. However, it’s essential to note the regulatory limitations that may restrict access for certain traders based on their location. With its commitment to delivering state-of-the-art trading software and a seamless CFD-based trading experience, worldtradex caters to the needs of both beginners and seasoned professionals. In conclusion, worldtradex ranks favorably among its peers, offering traders a reliable and safe environment to access a wide range of financial markets with confidence.

It also supports automated trading via its Expert Advisors (EAs) feature. Meanwhile, the mobile app version of the platform supports trading on the go. Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand.

worldtradex has a single subsidiary – Tradeco Limited – which is authorized in Seychelles by the local regulatory body. According to our system, the FSA Seychelles is a Tier-3 offshore regulator, which mandates compliance with some of the essential safety mechanisms. We do not encourage or condone the use of this program if it is in violation of these laws. Your review has been sent for the moderation and will be posted on the broker page after approval.

Deposit and Withdrawal

However, the broker does not incorporate any third-party content, which is essential for affording its clients an additional perspective. I requested additional information about worldtradex’s execution model, average execution speed, and general trading conditions. An agent connected almost instantaneously to the chat, but they did not introduce themselves.

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MT4’s app suffers from the same underlying problem inherent to other mobile apps. Analyzing price action behavior on low-resolution devices is extremely difficult. That is why I recommend using the mobile app only to monitor your positions’ development and make changes if needed.

Traders can also use the platform’s web version to access the markets from any computer with an internet connection. Compared to other brokers, worldtradex offers relatively higher leverage than other brokers. It’s important to note that leverage in trading acts as a double-edged sword, enabling traders to potentially magnify their profits if the market moves in their favor. However, leverage also magnifies losses if the market moves against them. The worldtradex platform also offers a detailed charting package, helping traders to make better trading decisions.

These markets are accessible via the MT4 trading platform, one of the most popular platforms among traders. In addition, the MT4 platform provides traders with comprehensive trading tools and features to create their trading strategies. worldtradex, regulated under the Seychelles Financial Services Authority, offers a wide range of trading instruments, including forex, futures, commodities, shares, and indices. With a reliable platform, educational materials, multilingual customer support, and four types of trading accounts, the broker is a reliable choice that provides traders with an enjoyable trading experience. worldtradex is a well-established online trading platform that offers a compelling range of features and benefits to traders. Compared to other brokers reviewed, worldtradex holds a strong position, particularly due to its commitment to regulatory compliance, transparency, and security.

  • The user-friendly interface of MT4 makes it easy for traders to execute trades quickly and monitor the markets with ease.
  • These markets are accessible via the MT4 trading platform, one of the most popular platforms among traders.
  • The worldtradex platform also offers a detailed charting package, helping traders to make better trading decisions.
  • worldtradex’s deposit and withdrawal options align with the offerings of many other brokers in the industry.
  • Assistance is available in a wide range of languages, including English, French, Spanish, Chinese, and Arabic, during business hours, Monday to Friday.

Deposit Options:

Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. worldtradex’s top priority is to ensure security and reliability for their clients as well as offering round-the-clock customer service for quick resolution of traders’ queries. In the case of no activity, including funding or trading, within one year, the company reserves the right to charge an annual administrative fee of $50 (or currency equivalent).

The broker has also issued a 3% inactivity fee that is charged whenever a client has deposited funds and then requested a withdrawal without having executed a single trade. I performed my tests on a Standard worldtradex trading account using the desktop and mobile app versions of the MetaTrader 4 platform. Some features and services may vary depending on where you reside and which entity you open an account with. The leverage level can be adjusted to suit the specific requirements of traders, allowing them to take control of their trading strategies. For instance, a forex trader with $250 in their account can take a position worth up to $250,000 through leveraging.

  • A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates.
  • Traders can choose the platform that aligns best with their specific trading needs and devices.
  • worldtradex does not charge a handling fee for deposits and withdrawals, though third-party banking fees may apply.
  • Credit/debit cards, e-wallets, and bank transfers are common choices among brokers.
  • However, it’s essential to recognize that while worldtradex’s range of investments is extensive, it may not have as many exotic or niche assets compared to some other specialized brokers.

For withdrawals and deposits, worldtradex does not charge any extra fees for using their payment gateways. However, clients might need to pay third-party charges depending on their payment method. Your account should reflect your goals, needs, and ambitions on the market.

Why is Choosing the Right Account Type Important?

The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account. My tests indicate that worldtradex’s trading fees exceed the industry average.

Inactivity Fees

Any rates, terms, products and services on third-party websites are subject to change without notice. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. I did not find any specific feature in worldtradex’s offering to say that the broker is better suited for high-frequency or longer-term trading. The easiest way to get in touch with worldtradex is live chat, which is available from the bottom-right corner of the main page.

It could be argued that MetaTrader set the standard for how retail platforms should be organized. worldtradex is still a relatively new broker, having been established just a couple of years ago. Hence, the company is still working on developing a strong brand name that is trusted internationally. It is currently licensed and regulated by a single regulatory body – the FSA of Seychelles, which requires brokers to ensure segregated funds and negative balance protection. However, there is no cap on the maximum retail leverage, and no compensation scheme has been put in place. worldtradex has invested time and energy in developing research materials, which I found quite diverse and unconventional.