One suggested Worldtradex improvement is for the site to be more transparent when sharing information regarding regulatory client protection. 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 broker claims to process withdrawals by cryptocurrency immediately but withdrawals with bank payment could take 1-3 hours depending on the processing bank. The term leverage is the ability to have access to added funds – margin – when trading financial instruments. Although increasing your margin could boost your market exposure, it also raises your vulnerability to losses. Rather than specializing in any one field, worldtradex provides a wide assortment of content types. 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.
- Traders must first create a Copier account and deposit funds into their Wallet.
- Finally, allowing API access for custom solutions can potentially attract algorithmic traders and developers.
- worldtradex also covers fees so you may access your moany at any time and receive it relatively quickly.
- The only real difference here being that as a master you can earn commission.
Besides, another license was obtained in South Africa regulated by FSCA giving a better expansion and regulated access to Africa Market. Spanning across the globe, worldtradex is subject to regulation by several authorities including the FSCA, MISA, and CySEC, reflecting the diverse regulatory landscape governing the activities conducted by worldtradex. worldtradexFX provides more information about its operational risk management than it does about its regulatory framework.
- In fact, the platform and broker have won many awards for this service.
- worldtradexFX, as a part of its education services, shares trading tips, advice, and strategies with its users.
- Generally, the weekly competitions will have a prize fund of $400, whilst the monthly competitions put $1000 up for grabs.
- However, it’s crucial to understand the structure of these fees, as they can significantly affect your profit margins over time.
Is worldtradexFX Sharia-compliant for Muslim traders?
While the free webinars allows clients to learn from veteran traders one-on-one, at a scheduled time. For articles, a handful exists bordering a wide range of topics ranging from risk management procedures and trading techniques. The trading interface of the mobile app is quite basic, yet it is functional. Its only limitation to client is its small screen resolution, hence, making deep technical analysis somewhat difficult. Web and mobile trading platform worldtradexTrader enables you to diversify and upgrade your trading. You can also create accounts on the MetaTrader 4 and MetaTrader 5 platforms to trade Forex, cryptocurrencies, and other instruments.
worldtradexFX MetaTrader 4
The choice of trading platforms means users can select the best fit for them. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. The idea behind offering multiple trading platforms is that traders can access spreads and leverage that are unlike in both.
Other Products and Services at worldtradexFx
They complain of worldtradexFx being a scam broker, denying them withdrawals and going on to block their accounts. After 324 reviews, worldtradexFx holds a rating of 2.997 out of 5 stars on Forexpeacearmy. Clients can initiate a withdrawal by logging into their trading accounts and clicking on the withdrawal option, visible on the homepage.
worldtradexFX Trading Platforms
It’s easy to add cryptocurrencies to your list of instruments on the MT4 platform. On desktop, simply right-click on the list of symbols and select the Show All option. On mobile, press the + button on the first tab from the left and select all cryptocurrencies you would like to add to your instruments list. Overall, we advise to check conditions based on worldtradex entity you wish too trade through.
The attractive leverage option really grabs the trader’s attention to head to the worldtradexFX trading platform. Though, to become a member of the Pro account, you’ll first have to make an initial deposit of $500. That’s why, if you’re planning to use the worldtradexFX trading platform, don’t forget to install the worldtradexFX mobile app. Meta Trader 5 platform serves extra to expert traders who often carry out an extensive trading analysis. However, if you choose the MT 4 trading platform, you’ll be able to invest in only a limited range of asset classes. Though, it isn’t right to call worldtradexFX an emerging online trading platform.
Trader Protections by Territory
However, with deposits in currencies other than the USD, the payment provider on conversion of the funds to dollars using their internal exchange rate may charge additional fees. There are a maximum of 28 currency pairs, 3 cryptocurrencies, 10 indices, 4 metals, and 2 energy markets. Mobile trading is one of worldtradexFX’s strong suits; all the apps are available for Android and Apple devices and through each provider’s app store. The MetaTrader app offers a smooth transition from desktop to mobile trading and is a widely used tool that will already be very familiar to a lot of traders.
Their support staff are well-trained and equipped to handle a variety of issues, assisting you with clear, effective solutions to your inquiries. They are fees necessary for trading, which users must pay before or during trading. We are constantly improving our product to make your trading experience better. “This way, worldtradexFx India Pvt Ltd, worldtradexFx, and their entities have cheated investors in the guise of forex trading thereby earning a profit of more than Rs 500 crore from the Indian region,” the ED said. A market index is a score that measures the performance of a group of assets.
The number of instruments on offer is relatively limited, and areas of the site could do with being more transparent as it can be hard to pin down certain facts. During our own testing, we found the average ‘first response’ time to be greater than the seven seconds claimed on the firm’s site. In fact, in only a handful of instances did the response time beat the seven second figure.
The worldtradexFX MT5 pro account is one which they recommend for the more experienced traders. With that said, the minimum deposit here is still low enough for all types of trader to get involved. This is $50 minimum deposit within the EU with the account being available worldwide. worldtradex provides fully functional mobile trading apps for MT4, MT5, and worldtradexTrader that are available for both Android and iOS devices. These apps offer full trading capabilities, interactive charts, and technical analysis tools on the go.
With that said, they still offer good value in terms of trading conditions. Matching your base currency to that of your deposits and withdrawals can be an important way to help you save on paying conversion fees which ultimately increase your cost of trading. The account base currency is that which you trade in with the broker. These are, EUR within the EU, and both EUR, and USD for traders outside the EU. You can look forward to trading with the MT5 trading platform on this account where the spreads start at great value from 0.2 pips. With worldtradexFX another of the measures in place to keep you safe as a trader is negative balance protection.
However, for live account types, clients must complete the KYC process before initiating positions or withdrawals. Below is the step-by-step guideline of registering with the broker via desktop. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process).