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. Lastly, you can choose the ECN account which uses the WorldtradexFX cTrader platform.
- Seems like a pretty standard thing these days.The minimum withdrawal amounts are all over the place too.
- Here the broker makes a special fixed exchange rate of 1 USD to 10,000 IDR available that can help traders combat currency volatility.
- It’s good to see Worldtradex offer MetaTrader 4 as it is one of the most recognised trading platforms for retail forex traders in Malaysia thanks to its advanced charting tools.
- 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.
- While they do offer top trading platforms MT4 and MT5, if you are looking for a wide range of assets they may not be perfect.
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The FSC is deemed “offshore” as they are an authority that accepts clients from multiple countries like Malaysia, Singapore, or Australia without being directly regulated by the country’s financial authority. The platform also has 38+ indicators featuring Ichimoku and RSI, while increasing the number of timeframes to 21 for better customisation. Additionally, you have excellent drawing tools for price action analysis like Fibonacci or Gann tools which I couldn’t find on the WorldtradexTrader platform. I find MT4 makes it easy to customise your charts with 9-time frames from day to tick charts and 3 chart types including bar, candlestick and line. This lets you adapt your charts depending on your strategy, whether you use multi-time frame analysis or are a scalper with tick charts you’ll find it easy to switch on MT4. Even at 0.90 pips, I found it’s roughly 18% cheaper than my industry average tests of 1.11 pips for EUR/USD, positioning Worldtradex as a low-spread broker.
This could mean that the bonuses are only available to traders in particular jurisdictions. Even smaller losses like 10 pips can result in an extremely negative impact on an account, making high leverage unsuitable for all traders. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.
The network charged a https://worldtradex.bid/ fee of 1 USDT, and the remaining amount was credited to our account in USD within minutes. For those familiar with cryptocurrency wallets, this process is very simple and quick. Worldtradex affirms that deposits can be made via bank wire, credit card, digital wallet, and cryptocurrency. The available methods vary depending on the client’s residence and may include local bank transfers. Worldtradex does not charge deposit fees, and processing times range from instant to a few days. In 2022, trading over the weekend was allowed due to the rise of cryptocurrencies.
Social Trading – Copy Trading
This account type is a great starter account, though at the moment is not available to EU traders. WorldtradexFX offers a great demo account that is easy to sign up for, just needing the most basic of your personal information and an email address. Here are a few of the WorldtradexFX account types you can look forward to trading with once you get started.
Many third party sites highlight the company’s continuous pursuit towards addressing customer issues through its wide range of accessible online forums. This is regulated by the concerned authority in Cyprus, the Cyprus Securities and Exchange Commission (CySec). It should be noted that traders in the U.S. are restricted from opening an account with WorldtradexFX due to strict U.S. regulations enforced by the CFTC and NFA. In general, Worldtradex appeared to me as trustworhy and transparent broker.
As a trader, you will find a range of features available at WorldtradexFX to suit your needs. Here is a closer look at a few of these features and how they can benefit you as an WorldtradexFX trader. In some places, you will also be allowed to make deposits through Bitcoin. In terms of the time it takes, wire transfers can take 3-7 business days to complete, while the other deposit methods are all typically instant.
Mobile Trading
WorldtradexFX offers a commission-free trading environment, which is particularly appealing to cost-conscious traders. Instead of commissions, the broker makes money through spreads, which are generally competitive. There are no deposit or withdrawal fees charged by WorldtradexFX, although you should check with your payment provider for any additional fees.
For traders relying on some support throughout their trading journey, finding a good support team will be crucial to your experience. With this, traders will have much more functions in terms of coding your Expert Advisors as it uses a coding language called MQ5. The most efficient experience is provided by the computer platform as it offers the most tools and functions. It was essentially developed by traders for traders and includes a plethora of charts and tools. The MT4 and MT5 are standard with only slight variations between firms, the functionalities can be significantly different in addition to spreads, fees, and other tools, features and admin areas. Traders will be relieved to know that no fees for withdrawals or deposits are charged by WorldtradexFX and fees incurred by its payment processors are covered.
Dear Emmanuel Iheanyi Nwogu,Thank you so much for your thoughtful feedback and 5-star rating! We’re truly pleased to hear that you’re enjoying our customer service, speedy deposits and withdrawals, and the trading ideas we provide. Worldtradex is an international broker providing online trading services since 2011.
- Founded in 2011, its products are available through WorldtradexFX.com and WorldtradexFX.eu.
- There is no extra verification required, and once a client’s separate wallet is set up, it’s easy to hook up to the signals of other traders.
- The combination oflow spreads and fast execution speeds make this broker a great choice for scalpers.
- In terms of deposits on the fiat side, traders can pay in either USD or EUR.
Worldtradex Trading Conditions
The live chat is 24/7 which is great to see, but the experience I’d say is a mixed bag. I like that you don’t have to fill out a questionnaire for support, you are taken directly to help in the form of AI. I’d like to have seen an option for bank transfers as I feel most secure about this process. However, Worldtradex has e-wallet options through Neteller and Skrill were also a positive as they also provide instant funding like the Mastercard option.
The WorldtradexFX Worldtradex 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. One of WorldtradexFX’s standout features is the availability of MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, three of the most widely used platforms in the forex industry.
When is the support team at WorldtradexFX available?
Worldtradex does have a proprietary mobile app for trading, as well as for social copy trading (the Worldtradex Copytrading app), yet it still trails behind industry leaders such as IG and Saxo. Check out my picks for the best mobile trading apps in the industry. Worldtradex offers a mere 257 tradeable instruments, which varies by platform, with the most on its MT5 offering. By comparison, industry leaders Saxo, IG, and CMC Markets all offer over 10,000 tradeable instruments.
It’s important to note that minimum deposits and trading costs will also depend on which Worldtradex entity you choose for establishing your trading account. The Worldtradex platform provides a web-based and mobile alternative, but there is no desktop version, which can be inconvenient for traders who prefer a dedicated program over a web browser. The web-based platform offers quality charts, allows for the placement of technical indicators and lines, and supports alerts that arrive as notifications from the broker. However, it lacks weekly and monthly time frames and does not offer an intuitive zoom tool. Worldtradex offers more than 300 trading instruments across its accounts, including 52 Forex pairs and 277 CFDs, encompassing indices, commodities, and cryptocurrencies.
«Good platform»
See how WorldtradexFX compares to the leading Forex brokers by reading one of the reviews below. Traders looking at the pro account will have access to the slightly more advanced MT5 platform. The layout for this is different to the MT4 platform so there will be a slight learning curve. For example, the winner of the Champion demo contest will win $1,000 which will be credited to your account.
We would also like to point out that all accounts come with a minimum lot size of 0.01 with no maximum lot size. To take advantage of these spreads simply enter MetaTrader4 and get spreads up to 14 points with no time limits. This profile aggregates professional traders’ performance, displaying it to the public and letting them promote it. As WorldtradexFX is a CFD broker, you will be trading on margin and using leverage. This will mean that although your gains will be higher, unfortunately your losses will be too, due to the leverage.