These findings are based on our first-hand experience trading at WorldTradex and take into account the overall experience for day traders. In addition to access to daily market analysis and market education resources, you can get a 100% first deposit bonus of up to $2,000 when you open an WorldTradex XL account. If you want to check out this broker’s services and trading platform, just open a free demo account with no minimum deposit. WorldTradex Forex trading platforms are built on the popular MetaTrader4. The platform works on all operating systems and supports EAs, hedging, and advanced technical indicators, analytical tools, and charting features.
WorldTradex’s limited research and technical analysis tools are disappointing, especially given how useful these tools can be for discovering trading opportunities. Placing a trade is a quick and straightforward affair that can be completed in a couple of clicks via the ‘Market Watch’ window or even more smoothly by turning on one-click trading. I really like the ‘average spread tool’ available on the broker’s website which displays fees over recent trading sessions.
Forex trading involves buying and selling currencies hoping to profit as the sentiment and value of one country’s currency falls or rises versus another. All content on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalized advice before you make any trading or investing decisions. DayTrading.com may receive compensation from the brands or services mentioned on this website. Compare WorldTradex with the top 3 similar brokers that accept traders from your location.
The Cyprus Investor Compensation Fund (ICF) protects retail trades in the event of insolvency up to €20,000. Client deposits remain segregated from corporate funds at both entities with leading international banks, but WorldTradex does not list them. Clients can find the provision in the Investment Services General Conditions PDF. WorldTradex has a clean regulatory track record and established itself as a secure and trustworthy broker.
The diversity of financial instruments which this company offers to customers is really huge. They have been running the business for over 14 years, so it seems they managed to add a lot of instruments for all this time. I like how tight spreads they provide on the forex market and the spreads are even more tighter than from other major and famous brokers. The technical support is good and it is noticeable that there are competent guys working. When trading forex, you are engaging in the buying and selling of currency pairs.
Remember to consider WorldTradex’s rollover or overnight fee, which applies to positions held for more than a day and varies by instrument. However, trading with an ECN XL Account comes with no swap charges, making fee calculation easier and offering a great benefit. Clients have access to the full suite of the out-of-the-box MT4 trading platform. It fully supports automated trading and is one of the most versatile trading platforms available. MT4 upgrades are available through third-parties for an additional fee to (potentially) enhance the trading experience. One significant advantage is that WorldTradex offers a more in-depth introduction to MT4, which many brokers fail to do, and which can truly set traders up for longer-term success.
WorldTradex’s investment offering is excellent for forex traders but weak in other departments. Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, WorldTradex has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. Novice traders should have little difficulty finding online assistance about how to operate the MT4 platform and use it to their advantage. In addition to offering free access to a Virtual Private Server (VPS), WorldTradex currently offers an attractive bonus to account openers. You just open an account and make a deposit to receive an impressive 100% deposit bonus in your trading account up to a maximum amount of $2,000.
Without the facility of leverage, many retail traders wouldn’t have the required capital in their accounts to trade effectively. Traders leverage their buying power by borrowing money from a broker to trade more significant positions in a currency. The 70+ currency pairs provide a wider range than many competitors. However, some FX specialists like Forex.com offer thousands of additional instruments, so it’s disappointing to find just 27 non-forex assets on the WorldTradex platform. Determining the size of your positions is pivotal for managing risk effectively.
With such a useful market analysis, we would love to see the section expanded to other pairs. WorldTradex offers traders the core MT4 trading platform without third-party upgrades. With no minimum deposit, high leverage, and low trading costs, WorldTradex is ideal for beginner traders and demanding seasoned ones alike. The concept of leverage in trading is taking advantage of artificially boosted transaction sizes to make more money from every trade. What if you were buying shares intending to become a professional share dealer?
When you apply leverage, you’re taking on board an added liability. You must ensure a level of margin is available in your account for every trade you execute. In short, leverage is not entirely free, and it comes with added risk.
Plus the spreads are tight.My overall trading experience and profits improve by far just by changing the broker I trade with. The broker supports the popular MetaTrader 4 trading platform with multiple terminal capabilities and a multi-account manager. You can also access the WorldTradex MT4 platforms on Android and iOS smartphones and tablets. WorldTradex employs an electronic communications network/straight-through processing (ECN/STP) model, so you get tight forex dealing spreads from top Interbank liquidity providers. The main thing that separates these accounts is the minimum deposit required to use them, and the number of instruments that can be traded. There are three basic sizes of trade positions that can be executed in retail forex trading.
The international subsidiary, on the other hand, operates with limited oversight, and this holds the broker back from achieving a higher score. I used the live chat function on several occasions and received timely responses in a few minutes each time. The agents were friendly, and provided suitable answers to all my queries, in a personalized manner with no frustrating chatbots in https://worldtradex.world/ sight.
