However, the combination of commission-free trading and floating spreads from 1.8 pips exceeds the industry average. The Privilege account, as the name suggests, features the most favorable trading conditions, but the minimum deposit requirement is quite elevated. It aids technical analysis by providing an overview of price action behavior and allows traders access to a number of analytical tools and chart configuration possibilities. In my view, a good chart should afford easy scaling up and down of price action.
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 Worldtradex and negative balance protection.
The Danish FSA’s business register contains information on which companies are authorised to offer financial services in Denmark. The Danish FSA’s website also contains information on identifying fraud companies and how to avoid them, under Avoid fraud. When we test a broker’s customer support team, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.
Much appreciated.😃 We hope your experience with worldtradex continues to be a positive one! The company has no authorisation to operate as an investment firm in Denmark. If you use an investment platform without a license to trade financial instruments, you are not ensured investor protection.
There are 30 built-in technical indicators, 23 analytical objects and numerous analytical tools that traders can use to identify entry and exit points. You can choose from our wide selection of currencies, metals, indices, commodities, shares and futures and start trading with competitive conditions and dedicated support. I quite enjoyed worldtradex’s educational guides covering very basic trading topics that novice traders are likely to ask. They do not delve particularly deep into the subject matter or examine more complex topics but are quite useful as a starting point.
He earned a Bachelor’s degree in Economics and International Relations. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. Most deposit and withdrawal requests are processed by worldtradex within 24 hours. In most cases, payments to and from worldtradex accounts are free of charge, though third-party banking fees may apply. The only time the broker may charge a $55 handling fee is for withdrawals below $300.
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 has invested time and energy in developing research materials, which I found quite diverse and unconventional.
worldtradex’s Account Opening Process
You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades. However, as a trader who relies heavily on precise technical analysis, I am highly skeptical of MetaTrader 4. At least when it comes to executing penetrating technical analysis. My tests indicate that worldtradex’s trading fees exceed the industry average.
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A CFD (Contract for Difference) offers the opportunity to traders to speculate on the price movement of different financial assets without owning them directly. With a CFD contract you agree to pay the difference between the opening and closing prices of an underlying asset. You can benefit if the price moves in the direction you have speculated, but you may incur losses if the price of the underlying asset moves against you.
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It illustrates the spreads and commissions I have recorded on the EUR/USD pair for each account type. The table shows how much you will have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10. On the other hand, worldtradex does not offer any alternative trading platforms and does not incorporate any third-party tools. Moreover, I evaluated its trading fees to exceed the industry average. worldtradex works with multiple payment services to provide its clients with maximum flexibility. Deposits can be made via bank wire, credit or debit card, e-wallets, or crypto wallets.
At worldtradex we provide the tools and support to help you develop your trading skills and unlock your potential. You can take advantage of our excellent trading conditions and products, including a wide range of accounts and flexible spreads across a range of assets. Join us and choose the account type that best suits your needs and start trading with competitive spreads. With worldtradex, we offer a reliable platform, fast execution and solid trading conditions.
- Some features and services may vary depending on where you reside and which entity you open an account with.
- worldtradex and its services are generally geared towards copy trading.
- If you use an investment platform without a license to trade financial instruments, you are not ensured investor protection.
- Join us and choose the account type that best suits your needs and start trading with competitive spreads.
Account types
However, the broker’s spreads on currency pairs are quite elevated. 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 https://worldtradex.world/ 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.
- Most deposit and withdrawal requests are processed by worldtradex within 24 hours.
- You should take into consideration several factors, such as whether the account type has a minimum deposit requirement, its spreads and commissions, the execution method, and more.
- The fee is applied by the broker so traders can continue holding a leveraged position after active market trading hours.
- Pre-installed Expert Advisors (EAs) and 50+ technical indicators that allow automated trading on the financial markets.
- The one thing that MT4 is quite suitable for is automated trading because it is not dependent on the execution of precise technical analysis.
- I conducted my test on 18 December at around 9.50 am CET via live chat.
Explore trading opportunities
Trade 300+ financial instruments on 6 asset classes including forex, metals, indices, shares, commodities and futures with competitive spreads. With worldtradex, you can access competitive spreads with both our Live Floating and Live Fixed accounts. Fixed spreads allow you to trade with predetermined and steady spreads without worrying about sudden changes. With floating spreads, you can access more competitive spreads, but these are flexible and could fluctuate according to market conditions. I found out that the live spreads listed on the website correlate to the actual price quotes on the platform, underpinning worldtradex’s high level of fee transparency.
I also appreciated the vast amount of over 150 written articles that are available from worldtradex’s blog section of the website. Your account should reflect your goals, needs, and ambitions on the market. You should take into consideration several factors, such as whether the account type has a minimum deposit requirement, its spreads and commissions, the execution method, and more. 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.
I quite appreciated that there is detailed personal info about market experts who lead the webinars. worldtradex offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. 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. Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery.