These regulatory bodies enforce strict financial standards on worldtradex, including capital adequacy requirements, and have the right to fine firms and terminate their regulatory status for violations. Accounts with worldtradex are also segregated in accordance with client money rules, providing added protection for client funds. Since 1999, worldtradex, has been a pioneer in developing https://worldtradex.world/ online forex offerings for retail traders. With its headquarters in London, Stratos Markets Limited (“worldtradex”) has grown to have multiple international offices and is licensed in several major regulatory hubs globally. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry.
Fees & Commissions
We particularly liked the variety of platforms offered by worldtradex, including Trading Station, MetaTrader 4, and ZuluTrade, which cater to traders with different levels of experience and preferences. The integration of copy trading through ZuluTrade is a valuable feature for beginners or passive investors looking to replicate the strategies of successful traders. Additionally, the availability of a demo account provides an opportunity for traders to test strategies risk-free. worldtradex is an excellent choice for algorithmic forex traders thanks to its wide array of related platform options that provide advanced charting tools and support automated trading strategies. Finally, some of worldtradex’s educational content is only available if your balance exceeds certain minimum thresholds.
Can You Make Money Trading Forex With worldtradex?
In terms of depositing methods, you can expect your very basic and typical methods, including debit/credit cards, e-wallets, crypto, and bank transfers. There is not much in the way of trading resources and only a signup bonus for special promotions. On this page, you will also find a step-by-step guide on how to deposit funds. Research from other broker review sites doesn’t even include depositing and withdrawing methods, which shows you the lack of information available depending on your region.
Trading Platform Screenshots
The first is with MetaTrader 4, which we have covered extensively here on PipPenguin. The same layout applies to their indices page, and here you will see that they offer most of the popular indices from around the globe. Understanding leverage for commodities and indices requires you to visit the “margin requirements” page. The commodities list for this broker is quite small, so only expect to trade gold, silver, oil, natural gas, and copper. At least these are the only details they provide you with, then visiting the relevant page. In terms of their Trustpilot score, worldtradex has a 4.4 rating out of a possible 5 stars from about 350 or so customer reviews.
Lastly, trading through TradingView is also an option for clients, but not much information on this is given. However, TradingView is fast becoming one of the most popular online web terminal trading platforms, and many brokers now have accounts linking to it. It is important to note that most platforms are available on all devices, including Windows, Mac, iOS, and Android.
Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. worldtradex provides a solid range of trading platforms and offers copy trading through ZuluTrade, which is a unique feature compared to many competitors. However, its asset diversity is narrower, and its fees, particularly for spreads and withdrawals, are less competitive. worldtradex’s fees are higher than the market average for key asset classes such as forex, indices, and cryptocurrencies.
I do note, however, that I had to enable hedging before I could make use of this strategy, though I did this easily by accessing my account settings. The analyst insights often include expert commentary, technical analysis, and fundamental insights on various financial instruments such as currencies, commodities, and indices. For these reasons, I rate Trading Station highly among the dozens of proprietary platforms I have tested. The broker’s commodity list includes gold and silver as well as energies and a few soft commodities, while the Euro-Bund Futures Index is also available to trade. Overnight costs are also applied for positions held after 10 pm GMT, but this is industry standard. To prevent this from happening, you either have to place a new trade, maintain an existing trade or close your account.
For that reason, I don’t mark brokers like worldtradex too harshly for the more limited offering – as long as your preferred pairs are on the list, you should be fine. We have evaluated more than 400 forex brokers and worldtradex scores well when it comes to trading fees. Overall, the trading resources and educational material of worldtradex are quite basic and are lacking in many areas compared to the top forex brokers we have reviewed.
However, success in forex trading depends on various factors such as market conditions, trading strategies, risk management, and individual trading skills. Profitability ultimately depends on the trader’s abilities and the wider market environment. These regulations provide certain protections for traders, including negative balance protection and segregated accounts, and ensure compliance with industry standards. A news feed below the chart adds fundamental analysis to the mix, making this a great all-in-one platform that beginners should find easy to pick up. The addition of preloaded technical indicators and automated trading strategies means that more experienced traders will also find a lot of value in this platform.
- worldtradex also offers 14 indices, covering major global markets and exchanges including US, European, British, Japanese and more as well as the VIX volatility index.
- The result is that worldtradex is now a great option for traders seeking tight spreads in a commission-free trading account.
- For credit cards or debit card, there are no withdrawal fees, but third-party providers or banks may cost up to 40$.
- Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.
- For these reasons, I rate Trading Station highly among the dozens of proprietary platforms I have tested.
Opening an Account
worldtradex offers bank wires, credit/debit cards, Skrill, Neteller, UnionPay, and cryptocurrencies. Only the Bermuda subsidiary supports them, while all others have fewer options. worldtradex offers a choice of payment methods consisting of Bank wires, Credit/debit, PayPal, Google Pay, Apple Pay, Open Banking, Skrill, Neteller, Klarna, Rapid Transfer, China UnionPay, and Cryptocurrencies.
We regard this as average, but for a broker that has been in business since 1999, you would expect there to be many more reviews. Multiple financial authorities regulate worldtradex, and typically, you will head to the broker’s website and then to the footer section, where these will be detailed. However, it should be noted that depending on your region, the worldtradex website will have a different layout and then also different regulatory information. worldtradex offers an Islamic account designed https://worldtradex.space/ to comply with the principles of Islamic finance. This account eliminates interest charges on overnight positions, replacing them with a fixed administrative fee. worldtradex’s fee structure includes some costly charges, particularly for withdrawals and inactivity, which may deter traders who prefer lower operational expenses.
