worldtradex, founded in 2010, offers a range of forex and CFD trading options. With an average recommendation, it provides essential trading tools and a variety of tradeable instruments but does not stand out significantly from its competitors. UK traders can make deposits directly in pounds sterling (GBP), as well as in USD, EUR, AUD, JPY, CHF, PLN, RUB and HUF. Deposits made in different currencies are converted to the base currency of your trading account at prevailing exchange rates. The broker also warns on its website that spreads during overnight trading might be wider.
The options include the popular MetaTrader 4 and the Personal Multi Account Manager but the broker does not have a proprietary software platform. This may be a weak point for the broker but it should not bother traders, especially since MT4 is familiar to most of them. worldtradex offers two demo accounts, the Demo Floating Spread and the Demo STP/ECN Absolute Zero. The former is fully customizable, while the latter is only available as a USD option with a default balance of $100,000, where traders can select their desired leverage.
- worldtradex offers several trading platforms, available for PC, Mac, and mobile devices.
- By following recommended security practices and staying alert to potential scams, traders can enhance their protection against unauthorized access.
- In case the potential client does not understand the risks involved, he/she should seek advice or consultation from an independent advisor.
- This may impact how, where and which companies / services we review and write about.
- As an IB, you can take advantage of high commission rates based on the trading volume of your referrals, as well as offer attractive market rebates to enhance client retention.
What types of accounts does worldtradex provide?
Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14. While it provides essential functionalities for trading on the go, it does not excel in this area compared to its competitors. According to the terms of the withdrawal, you can receive only the deposited amount via the payment method. Also, worldtradex does not charge withdrawal fees, but your bank or payment portal could levy a fee.
Only verified trading accounts can deposit and withdraw, and the name on the payment processor must match the worldtradex account name. Some payment processors have geographic restrictions, but the worldtradex back office will only list the ones available to traders. Processing times depend on the geographic location and the payment processors, which worldtradex lists as between one and ten business days.
Live Fixed/Live Floating Spread Accounts
You can also access a network of other traders so you can review their past performance and copy their trades in your own account if you wish. The Sirix Social WebTrader software comes in a web version for desktops, as well as mobile apps for smartphones and tablets. It lets you execute CFD and forex trades easily, which then get reflected automatically on other platforms. Broker also allows you to use third party trading robots and automate your own trading plan, which you can implement using MT4. This is why they have a really broad selection of account types, a little to broad in our opinion.
worldtradex notes the availability of 80+ currency pairs, making it an ideal Forex broker. Traders also get 15+ commodity CFDs, 20+ index CFDs, 30+ futures, and 150+ equity CFDs. I find the well-balanced asset selection suitable for most retail Forex and equity traders requiring fewer but highly liquid trading instruments, like day traders. I also like the worldtradex fractional share dealing, which is excellent for smaller portfolios.
worldtradex supported devices are practically almost all types of devices dominant today. One can get MT4 for PC and Mac, Android and iOS tablets and also MT4 for mobile phones that run iOS, Android and even Windows Phone. Founded in 2013, Tradingpedia aims at providing its readers accurate and actual financial news coverage. Our website is focused on major segments in financial markets – stocks, currencies and commodities, and interactive in-depth explanation of key economic events and indicators. The worldtradex website is available in many different languages, while the MT4 platform can be opened in even more, which makes it suitable for traders from all over the world. When registering their account, worldtradex can opt for the following languages – English, German, Spanish, French, Italian, Portuguese, Polish, Russian, Japanese, Arabic, Korean, and Chinese.
London Stock Exchange
- You can even get a free VPN server to make running automated Expert Advisors (EAs) safer during overnight sessions and other unattended times.
- The minimum deposit to open an account is $100, allowing both beginners and experienced traders to get started with a manageable investment.
- 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.
- Floating spreads will move with the market and will be sometimes higher and sometimes lower than fixed.
- Besides, you can also choose between no commissions, zero spread and absolute zero accounts.
- Under FCA regulations, worldtradex includes the FSCS insurance, but with them, each client is insured up to £1,000,000 in the unlikely event of the company running into liquidity or solvency problems.
Unlike hard commodities like metals and oil, soft commodities are typically agricultural products that are being grown rather than mined. The soft commodity futures on worldtradex include cord, wheat, rice, soybeans, coffee, cocoa, sugar, and cotton. The broker offers CFDs on several commodities, including Brent Crude and West Texas Intermediate (WTI) oil. CFDs on indices give traders exposure to the global markets and great opportunities to profit from some of the most popular indices in the US, UK, Germany, China, etc. Indices represent the collective value of underlying publicly-traded companies.
Broker Overview
Accounts can be registered in USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, and HUF. The broker does not charge any fees for deposits and withdrawals and the minimum deposit than can be made is $250, although that varies, depending on the type of trading account one opens. I like the trading environment at worldtradex in the Absolute Zero account due to its competitive Worldtradex forex broker trading fees. worldtradex is an ideal broker for Forex traders due to its above-average choice of currency pairs.
Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. worldtradex holds a “Trusted” rating with a trust score of 83 according to ForexBrokers.com, indicating a reliable level of trustworthiness in the industry.
Usually, the price of gold, for instance, is a function of the current sentiment. The minimum deposit at worldtradex is $50 for most accounts, except for the Zero Spread option, which requires $500. This average customer rating is based on 21 worldtradex customer reviews submitted by our visitors. When we used worldtradex, our experts also found that scalping, hedging, intraday trading and swing trading are all accepted. worldtradex also offers the Cent account with which clients can start with fewer funds and smaller lot sizes.
What did our traders think after reviewing the key criteria?
Official website has an easy-to-read format with links to all the basic areas you might find useful or have questions about. In addition to a helpful FAQ and some educational material, the website offers the latest market news and in-house expert analysis, as does its free mobile research app. The main usability issue is with the lack of communication between worldtradex’s CFD and cryptocurrency trading platforms. 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.
What types of educational resources does worldtradex offer?
It supports the MetaTrader 4 platform but does not offer MetaTrader 5 or a proprietary trading platform other than its copy trading app, TradeCopier. Founded in 2010, worldtradex is an online broker based in Cyprus that also offers Contract for Difference (CFD) trading in over 200 tradable assets. The broker added social trading to its offerings in 2013 by collaborating with third party developers and joined forces with EmurgoHK in 2018 to found the cryptocurrency exchange. In a way we get paradox of choice – similar one as with the accounts, however,here are things much easier for everyone – because all platforms can be used at the same time with one MT4 account. With CFD on shares, traders can invest in some of the largest and most successful companies in the world without actually owning any company stock.