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worldtradex Broker Review: Fees, Pros and Cons, Account Types

Brandon MarxPosted on Posted in Forex Trading

worldtradex does not have a dedicated mobile app, but clients can trade using MT4’s app, which is available from the Apple App Store and Google Play. I find worldtradex’s in-house forex market hours tool a handy way to check holidays and other events that could impact trading hours. I do feel slightly let down that the worldtradex demo mode is limited to 30 days, but I found that you can simply open another demo account after the first one expires.

MetaTrader

  • During tests, the EUR/USD came in at 0.1 pips, which is tighter than rivals like worldtradex with its 0.6 pips on the same pair.
  • To ensure we offer traders accurate and current information, our forex broker reviews also undergo rigorous editing and fact-checking.
  • New currency traders will enjoy the $0 minimum deposit, education and trading resources, plus the zero commission policy.
  • Our team rates worldtradex’s execution model, which combines straight-through processing (STP) and electronic communication network (ECN) to ensure fast and high-quality execution with low pricing.
  • The MetaTrader 4 and MetaTrader 5 mobile apps offer complete, fully featured trading platforms for Android and iOS devices.

worldtradex is a regulated broker offering diverse trading instruments, including CFDs, commodities, currencies, cryptocurrencies, and indices. Licensed under CySEC, MiFID, and MISA, Worldtradex courses scam worldtradex provides competitive spreads starting from 0 with no trading commissions under its ECN XL account, making it an appealing choice for traders seeking low-cost options. The platform works on all operating systems and supports EAs, hedging, and advanced technical indicators, analytical tools, and charting features. worldtradex offers software that can be downloaded for PC, used as a mobile app for trading on the go, and includes a Multi-Terminal for managing multiple accounts at once.

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The broker uses a price aggregator to ensure that counterparty orders use the best bid and ask prices currently available. Importantly, we never recommend choosing a forex broker based on their bonuses as they can encourage bad trading habits. The online broker covers a range of important topics including guides on foundational information for the forex market that all beginners should read.

Customer Support and Educational Resources

These are useful resources, but worldtradex still lags some behind industry leaders like eToro with its comprehensive forex education academy. The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed. Our team is happy to see that worldtradex does not impose any trading restrictions, meaning strategies such as hedging and scalping are viable. Our team rates worldtradex’s execution model, which combines straight-through processing (STP) and electronic communication network (ECN) to ensure fast and high-quality execution with low pricing. Bank wire transfers are on the slow end, taking between five and seven business days for both deposit and withdrawal requests, while crypto transactions are usually fast, taking 15 minutes or so. An inactivity fee of $5 per month is applied after three months of no trading activity.

  • Clients can also download a range of ebook PDFs for free that go into further detail on strategizing and online trading.
  • Whatever your level of trading experience or demands, we believe we have the right account for you.
  • Bank wire transfers are on the slow end, taking between five and seven business days for both deposit and withdrawal requests, while crypto transactions are usually fast, taking 15 minutes or so.
  • worldtradex offers mobile trading apps compatible with both iOS and Android devices.

The broker’s commitment to technological excellence, diverse account options, and client-focused services make it a compelling choice for traders seeking precision in their forex endeavors. Whether you’re a beginner exploring the markets or an experienced trader looking for advanced features, worldtradex’s offerings cater to a wide range of trading needs, making it a broker worth considering in your forex journey. worldtradex caters to a diverse range of traders by offering various account types, including Standard, XL ECN, and Advanced ECN accounts. Each account type comes with its unique features, allowing traders to choose the one that aligns with their trading preferences and strategies.

Both versions offer a seamless, responsive interface, providing ultimate flexibility for traders who need instant access from any device with internet connectivity. These mobile applications allow traders to connect to their worldtradex’s trading accounts, analyze charts, manage trades, and apply technical indicators — all from smartphones or tablets. The apps are intuitive, fast, and offer full trading capability on the go. worldtradex brand is an international brand that is registered and regulated in various jurisdictions and is committed to offering you the best possible trading experience. Start trading with No commissions, No swaps, and tight interbank spreads starting from as low as zero.

Fast and Friendly Support

For further regulatory information regarding the Payment Service Providers please visit the deposit methods page. Manipulation and intervention is eliminated due to ECN efficiency and transparency, providing the fairest most equitable trading possible. It is a liquid pool of institutional partners providing true market quotes.

More you will get daily forex technical analysis by forex experts, and forex news. During testing, we have been impressed with the ECN pricing that offers spreads from 0.0 pips, while the 70+ currency pairs provide better market coverage than most alternatives. The broker’s strong regulatory oversight by CySEC, MiFID, and MISA, along with client fund security in Tier 1 banks, adds a layer of trust for its users.

Additionally, worldtradex provides educational resources, including webinars and tutorials, to support traders at all levels in enhancing their trading skills. The deposit is low, the MetaTrader 4 platform is one of the best for forex trading, and the tight spreads through the ECN model are competitive. worldtradex’s non-forex asset list is less competitive, with the lack of shares a notable exclusion and very few other markets. Many competing forex brokers such as CMC Markets and Plus500 offer trading in thousands of global instruments including stocks from a range of international exchanges, so worldtradex is behind the competition here. Additionally, the broker provides several specialized accounts, including demo accounts for practice trading, Islamic accounts adhering to Sharia principles, and managed accounts for those preferring expert guidance. Whether you are a beginner looking for a low-cost entry into the forex market or a professional trader seeking competitive conditions, worldtradex’s ECN XL account provides a solid, flexible option.

Before making any trading related decision, contact a local professional financial advisor. Our forex broker ratings are the result of a blend of quantitative data and qualitative insights gathered during the testing process. This approach allows us to identify the best forex brokers for a variety of trading styles, skill levels, and financial parameters.

Islamic traders will also be pleased that a swap-free account is available upon request. Forex ECN is the most proficient and transparent trading method available. All the services on the TopForx.com website are free for you to use. 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. The minimum deposit at worldtradex usually starts at $100 or the equivalent in other currencies.

Execute trades, perform technical analysis, monitor your account activity, and access live market data all in real time and from the convenience of your web browser. MetaTrader 4 and MetaTrader 5 are a series of advanced trading platforms designed by MetaQuotes Software Corporation a software development company established in 2000. Since its inception, MetaQuotes has built an unrivalled reputation for innovation, consistently delivering intuitive and powerful trading platforms, services, and solutions for market participants worldwide.

Our team is also disappointed by the withdrawal fees and weak regulatory oversight through the offshore branch. With fast processing times and no deposit fees, worldtradex makes it easy for traders to manage their funds efficiently. worldtradex operates on a spread-only model, with spreads starting as low as 0 on major currency pairs. With MetaTrader 4 WebTrader and MetaTrader 5 WebTrader, you can experience the full power of the MetaTrader platforms straight from your web browser without the need to install any software.

When you trade with an worldtradex ECN account, you can automatically access multiple currencies like EUR, USD, and GBP with tight spreads starting from 0.01 pips. To see the full fee structure, check all the conditions including commissions, funding fees, and inactivity fees. You can compare the current spreads for the most traded instruments and see how worldtradex spreads stack up against those of BlackBull Markets.