Though it has been granted regulatory status in Cyprus and South Africa via an https://worldtradex.world/ intermediary (Orinoco Capital), worldtradex’s lack of additional reputable licenses heavily weighs down its Trust Score. Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. Bitcoin and cryptocurrencies can be traded on worldtradexFx but not bought outrightly. Bonuses of 10%, 20% or 50% can be claimed on each deposit with worldtradexFx but there are even bigger bonuses available during holidays and other limited-time events. There is also a Trader’s Glossary with precise definitions of common forex terms to help clients become familiar with different trading terminologies.
Trustpilot Reviews
If you need some support outside of the hours or would prefer to get a quick answer yourself then there is an FAQ’s page with a range of relevant questions and answers. Though, if possible, seen as the team is so quick and efficient you might be better off just reaching out to them first thing. worldtradexFX boasts an average of 7 seconds to respond and 3 minutes to find a solution to clients’ issues or answer their queries. This has greatly contributed towards the team’s 96% customer satisfaction rate. Lastly, anyone looking for an automated trading strategy can utilize the cTrader automate to help you develop custom robots. This has an extensive baak-testing capability with its suite of tools.
I prefer seeing a broker regulated by multiple authorities, especially local regulators where clients are accepted such as CySEC. However, I would like to see other Tier-1 regulators like the Australian Securities and Investments Commission (ASIC) or the Monetary Authority of Singapore (MAS). You have a selection of alerts you can receive, so I set it up to show all trading signals like candlestick patterns and chart patterns such as head and shoulders. I found the signals to clearly demonstrate the trading idea and the market commentary is a nice touch to help explain the move.
- A lot of brokers consider them mutually exclusive, so only offer one, if any at all.
- You have a selection of alerts you can receive, so I set it up to show all trading signals like candlestick patterns and chart patterns such as head and shoulders.
- Additionally, the broker provides promotions and bonus programs, along with 24/7 customer support, aiming to enhance the overall user experience and sustain its global presence.
- Again, the provision of standard demo accounts helps clients learn trading and key trading techniques without fear of loss or risk to real funds.
- Our platform is free for users, earning commissions from some partners without extra cost to you.
These include both on the PC version as well as the mobile apps. In addition to this, the customer support team is multilingual, offering support in languages including English, Malay, Indonesian, Thai, Hindi and Urdu. The firm has a good basis for its research offering due to the fact it offers a bit of all main content types including some from third party providers. However, this offers a range of new features all packed into it neatly.
Most withdrawals are processed within 1-3 business days, and users report that the process is generally fast and reliable. In terms of tools, traders can choose the most convenient platform among worldtradex Trader, MT4, and MT5. With the mobile worldtradex app, you can manage all accounts without downloading MT4 and MT5 on your phone. However, not all platforms have the same instruments available for trading. worldtradex does not charge fees for deposits or withdrawals, nor does it impose commissions on trades.
Customer Support ☎
One of worldtradex’s impressive features I found was the no swap fees on all of its accounts. This means you can hold CFD positions overnight without being charged interest or fees like non-Islamic accounts do, making the broker a solid pick if you trade stocks. I opened an MT5 Trading Account to test the broker’s trading conditions and I was impressed with the spreads worldtradex supplied.
worldtradexFX Account Types
You will pay a slightly higher minimum deposit to avail of this account. https://worldtradex.blog/ In line with the desktop version, the worldtradex trading app is execution-focused. It provides a range of core services, including charting tools to help clients get into the markets with the right level of support. In our review, the entire withdrawal process took less than 35 minutes. We accessed the withdrawal section in the dashboard, where we entered the amount and selected the method, in this case, Tether (TRC20).
As worldtradexFX is regulated by CySec, the firm is authorized to offer its services to customers in EU member states. This is because European forex laws allow brokers that are licensed in a country within the EU to service clients anywhere within the European Union. Opening an account with worldtradex is done online with a few simple steps which enable you to set up a real or demo account. The process also gives you plenty of information about trading in forex markets. It’s an around the clock solid, reassuring, capable, service.
The service provides tutorials, which explain how this is done and primes traders to run a cBot and use the free algorithms made available to them. This section of the site is well supported by the Customer Services and the Education sections of the site. There is also a dedicated VPS (Virtual Private Server) for ‘algo’ traders. It’s possible to access the worldtradex services while on the move by using the worldtradexTrader app, MetaTrader app or through internet browsers.
According to the worldtradexFx website, the broker does not charge any fee on deposits and withdrawal. They also cover the deposit and withdrawal fees that third parties (like Skrill, Neteller and others) may apply. However, with deposits using bank cards, your card issuer may charge some fee for processing the transactions. Spread is the difference between a broker’s bid and ask price. The spread for all available currency pairs offered by worldtradexFx – including major, minor and exotic pairs are listed in the table below. Some topics include, risk management, trading strategies, and technical and fundamental analysis.
However, when compared to research leaders IG, Saxo, and CMC Markets, worldtradex has room to enhance its research offering. For instance, I found that the content on the worldtradex Blog is not updated daily across all categories. For example, the “minimum expertise” field lets you choose between newer systems, all the way up to those with legend status. I was also pleased to see a risk score assigned to each trader, to help users differentiate between traders with historically conservative results versus those that have had more volatility and risk.
Capital amounts, margin, and other details are clearly visible. Alerts and each executed order are notified through browser notifications. A few minutes after submitting the withdrawal, we received a confirmation email. At that point, we could see our withdrawal status as “pending” in the dashboard. Less than 30 minutes later, the withdrawal was successfully completed, with the amount credited to our cryptocurrency wallet. The amount experienced a slight deduction due to conversion fees, but no additional charges were applied.
These two minor points do not detract from the trading experience, and worldtradex can be congratulated for so effectively shaking up the broker space. A wide variety of educational content is available for worldtradex users under the ‘Traders’ Tools’ section. Both MetaTrader MT4 and MT5 stand out for the charting tools they offer. The standard MT4 package, for example, comes with 30 built-in indicators, over 2,000 free custom ones on offer and 700 available for purchase.
Spreads can be as tight as 0.0 pips and those who go with the ECN/STP processing option will be provided with exceptional flow quality and reduced slippage. Regarding trading conditions, spreads are at the industry level. This is a distinct characteristic that avoids surprises, which are mostly negative for traders, especially on certain days when swaps can be doubled. Yes, worldtradex is legal and regulated across multiple jurisdictions covering the EU and Asia. For the EU, it is regulated by CySEC which is a Tier-1 authority and for the rest of the world you will be regulated by MAS or MISA. By being regulated across multiple jurisdictions it allows worldtradex to provide retail financial services to traders across 180 countries.
