Renowned European countries such as Estonia, France, Finland, Germany, Greece, Hungary, India, Ireland, Israel, and Italy are directly involved in WorldtradexFX investment. WorldtradexFX includes many more countries, including Kuwait, Malaysia, Malta, Mexico, Monaco, the Netherlands, Norway, Latvia, and Liechtenstein. However, Lithuania, Luxembourg, Oman, Poland, Portugal, Russia, Saudi Arabia, Slovakia, Slovenia, South Africa, Sweden, Spain are still trading here. WorldtradexFX allows direct deposit transactions to Switzerland, Thailand, the United Arab Emirates, the United Kingdom, and Qatar.
The account type will determine which platform you trade with, as well as the fees charged. The platform offers competitive spreads that range from 0.8 to 65 depending on the type of currency pairs. The currency pairs like EUR/USD and a few others have a tight spread of 0.8 pips; most pairs have competitive spreads except USD/ZAR, which has a spread of 65 pips. This seems like the perfect choice for novice traders to trade without any risks and access advanced trading features at the same time. Moreover, you can also participate in demo contests arranged by the broker and earn actual cash rewards. Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money.
WorldtradexTrader Account:
I’ve been using WorldtradexFX for about eight months and, on the whole, my experience with their trading platforms has been satisfactory. They offer MetaTrader 4, MetaTrader 5 and their own WorldtradexTrader platform (which I prefer the most). MetaTrader 4 is intuitive and perfect for basic operations such as opening and closing trades or checking market Worldtradex scam conditions.
WorldtradexFX is worthy of investment, and there are various https://worldtradex.live/ reasons to believe so. First, it was founded in 2011 and offered excellent opportunities to traders and investors so they could efficiently work on the trades. It also supports copy trading, one of the prime advantages of dealing with this online brokerage platform. I’ve been using WorldtradexFX for some time now, and what I particularly like is the simplicity of the whole process.
Worldtradex Supported markets vs top competitors
Those considering a local bank payment will have 3 options available to you. You can either make payment through an online transfer, with an ATM, or using a standard bank account deposit. As WorldtradexFX is a large broker, it fittingly offers a good range of funding options on both the fiat money side and the crypto side. Exact spreads and commissions will vary depending on the account type you hold.
If your account balance goes negative, for example, due to significant economical events, your account balance will reset to zero automatically. On most payment methods, there are no fees for depositing and withdrawing money. WorldtradexFX will not charge additional fees, but the payment provider can do it.
Both platforms are available on desktop, web, and mobile devices, ensuring seamless trading across various operating systems. They also offer real-time market updates, one-click trading, and multiple order execution options to enhance trading efficiency. Taking a look at the CFD markets available from WorldtradexFX, it is noted that they offer a little more than 70 assets in total. Some of them may not be available within every region or account type.
It is rare to find a company with such a commitment towards its customer relations when many firms are accused of being purely for profit. WorldtradexFX has a reputation for being proactive in satisfying customer issues by coming to a reasonable solution. Although all of the above will work to help protect your funds, issues do still arise. Should any arise for you then you can feel safe in the knowledge that you can go to CySec and report any complaints through its self reporting portal. These requirements can be seen as buffer funds and they must be substantial. This is regulated by the concerned authority in Cyprus, the Cyprus Securities and Exchange Commission (CySec).
Can I provide feedback or suggestions to WorldtradexFX’s customer support?
Whether you’re a novice exploring the markets or a professional looking for advanced tools, WorldtradexFX provides the necessary resources to achieve your trading goals. This is a distinct characteristic that avoids surprises, which are mostly negative for traders, especially on certain days when swaps can be doubled. In terms of tools, traders can choose the most convenient platform among Worldtradex Trader, MT4, and MT5.
- We do not recommend or advise that investors buy or sell through any financial instrument like commodities, securities or stocks.
- When we tried the customer support service offered by the broker, we realised that it offers prompt-based chat support and does not allow users to ask questions directly.
- Customer service is crucial for any broker, and WorldtradexFX seems to excel in this department.
- Until that point however, they will have to accept that many potential traders could turn away based on the fact they have been around since 2011, and are still loosely regulated.
- In our review, the entire withdrawal process took less than 35 minutes.
What account types can I choose from at WorldtradexFX?
Additionally, Orinoco Capital (Pty) Ltd. holds a Financial Service Provider (FSP) license number from the Financial Sector Conduct Authority (FSCA) in South Africa. It is also regulated by the Financial Services Commission Mauritius (FSC) and Mwali International Services Authority (MISA) for non-EU clients. The profile for each trader was more detailed showing profit and loss, drawdown, and copy follower growth which I like to use as a leading indicator of trader performance.
- With a strong focus on the Asia-Pacific region and a growing global presence, Worldtradex has earned numerous awards for its services.
- Ultimately, all platforms feature an effective and concise ordering system which accounts for various types of order and position and is very quick to execute.
- We don’t recommend traders accept it if they plan on making a withdrawal before all of the terms and conditions are reached.
- Trading signals are provided by Autochartist, and again the broker features a dedicated area of their site for trading tools.
As part of its expansion, Worldtradex launched a program for Introducing Brokers in 2014 and introduced the cTrader platform (currently unavailable). Since 2016, the MetaTrader 5 platform has been available, coinciding with the launch of educational content. In 2017, Autochartist was introduced, along with cryptocurrency trading and the first proprietary apps with market information, which would later evolve into the Worldtradex app in the following year.
In general, WorldtradexFX doesn’t charge high fees compared to other online brokers. For operations other agents fee for, they do not charge a broker fee, or they charge a smaller sum. This is beneficial for those who regularly trade, such as daily or weekly trading. Another concern with fiscal brokers with respect to security may be manipulation of trading. However, this is more prevalent in the case of Market Maker brokers who compete with customers on the stage. Together with everything, WorldtradexFX has multiple benefits to new and verteran traders and should be investigated.
Additionally, the Worldtradex platform features a one-click trading button that cannot be removed, which poses a risk since clicking it executes trades without confirmation. Alerts and each executed order are notified through browser notifications. Additionally, the app allows users to view the history of each operation, including changes made to orders, with great clarity. To withdraw the bonus, the client must trade a number of lots equal to half of the bonus amount. For example, if the bonus totals USD 400, the client must trade 200 lots to be able to withdraw it. The threshold to access the bonus is high and requires a substantial trading volume.
In addition, Worldtradex boasts no slippage on 97.5% of its executed orders, and no overnight carry costs, yet has restrictions in place that can hinder high-frequency traders. The recent raids further uncovered that WorldtradexFX used url masking methods to disguise the identity of payment gateways and evade regulatory detection. The ED-led investigation revealed that WorldtradexFX, in partnership with M/s WorldtradexFx India Pvt Ltd, operated in India without the authorisation of the Reserve Bank of India (RBI). The firm had defrauded investors under the guise of forex trading, and generated more than Rs 800 crore in less than a year. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com.
After meeting certain volume requirements, bonus funds can be withdrawn, contributing to the expansion of trading resources. The “Trade and Win Giveaway” promotion from WorldtradexFX recognizes the commitment of Malaysian traders. The support team is recognized for its prompt response times and ability to address concerns in multiple languages, reflecting WorldtradexFX’s commitment to serving its global client base. This bonus is also withdrawable though you must meet certain terms and conditions set by the broker. MetaTrader is further renowned as one of the most comprehensive platforms in this area. You can further benefit from one click trading, the ability to order directly from charts, and regular price alerts.
WorldtradexFX Review: Table Of Contents
WorldtradexFX offers a “Status Program” to reward Malaysian traders for their loyalty and trading activity. This initiative enables traders to earn points based on their trading activities, which can be used to advance their account status and unlock a variety of advantageous perks. WorldtradexFX is committed to providing a secure and transparent trading environment for its clients. The broker operates under multiple regulatory frameworks to ensure compliance with international financial standards.