Our independence from brokers and the companies we introduce, our commitment to maximum transparency, and our extensive experience in financial markets contribute to our ranking criteria. 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. This is rather a limited selection compared with other top brokers.
Opening an account with worldtradexFX
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. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research.
worldtradexFX Trust Scores
It also supports copy trading, one of the prime advantages of dealing with this online brokerage platform. In this review, the FXStreet team presents an independent and comprehensive analysis of worldtradex, grounded in direct testing and real user experiences. As a leading financial media outlet, our editorial content is driven by rigorous research and data-driven insights, all free from external influence.
This assessment delivers a transparent evaluation of worldtradex’s trading conditions, tools, support, regulatory standing, and overall suitability for traders. worldtradexFX stands out as a versatile and cost-effective broker, appealing to traders across various experience levels. Established in 2011, it has built a strong reputation for offering competitive trading conditions, robust platforms, and a user-friendly environment. With regulation by CySEC and the Mwali International Services Authority, traders can trust worldtradexFX for secure and compliant operations.
Mobile Trading Apps
Due to that, we highly recommend worldtradexFX as a great place to copy trade but caution you to remember that due to a limited number of assets, your portfolios can be less diversified. This can result in comparatively bigger movements than a well-diversified holding so is something to keep in mind. The broker has recently given up its regulatory license with the Financial Conduct Authority in the UK.
- worldtradex gives high priority to the ‘Analysis and Education’ section of its site.
- 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.
- Time Frames change, Access Trading History and Mobile access for online trading carry friendly and useful features.
- There are a total of 51 charting indicators provided, and 31 drawing tools also.
- If you see a drop in the market price, then you need to click on ‘Sell’.
They can then trade as usual and earn additional income whenever others choose to copy them. Popular features such as 1-click trading, alerts, and watchlists are available. Traders can access all basic order types (market, limit, stop loss) via the platform.
Before any broker enters the market, you should know whether the market is moving upwards or downwards. It is up to you to decide whether to buy or sell stock spreads in this market. If you see a drop in the market price, then you need to click on ‘Sell’. On the other hand, if you see that the price has increased, then click on the ‘Buy’ button. worldtradex is a broker that has operated for over 10 years and has been expanding during this time.
- However, I would like to see other Tier-1 regulators like the Australian Securities and Investments Commission (ASIC) or the Monetary Authority of Singapore (MAS).
- When opening my account I was given the option of only using USD as the account base currency.
- Comprehensive customer support and a wealth of educational resources add value, empowering traders to make informed decisions.
- With more than 10 years of experience in the trading industry, we checked worldtradexFX in detail.
- Available trading platforms include MetaTrader 4 (Web, App, and Desktop), MetaTrader 5 (Web, App, and Desktop), and the proprietary web-based worldtradexTrader, along with the worldtradex Copytrading app.
The About Us page does a good job of sharing the company’s mission and history through a series of milestones over the years. The idea of making the trading space more comfortable was the start. Only the traders themselves could give us a better insight into their preferences. Over two years of research and development, we have interviewed traders worldwide, discussing the platform’s usability. For example, in the healthcare sector, a patient undergoing a medical procedure might not be informed of all potential side effects or alternative treatment options.
Trading tools
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.
How do I deposit funds in an worldtradex account?
The broker offers three main account types; worldtradexFX MT4, worldtradexFX MT5, and worldtradexTrader. The score for this category was weighed down because only one base currency is available (USD) and there is no option for a raw spreads account. worldtradex excelled in the category of fees, with tight spreads in CFDs on forex and shares.
What makes this broker unique is it its large variety of tradable assets and the laser-fast order execution. They offer seven asset classes and more than 12,000 markets to trade. Roboforex is registered in Belize, and regulated by the CySEC, FCA, ASIC, and FSA. According to their website, more than 900,000 customers are registered on their site. Don’t forget to read our full review on Roboforex before you test it out.
What is the minimum deposit for worldtradexFX?
I thought the research provided by worldtradex was decent as they offered chart and candlestick patterns like doji candlesticks and wedges, or highlighting support and resistance levels to trade. The analysis was well presented on the charts and the commentary was easy to understand and follow, even if you’re new. There are 12 extensive educational articles covering the forex basics but what stood out for me was the free forex trading course. In this course, I had access to 11 video lessons that lasted roughly 5-10 minutes but went into detail about how to trade forex. I found the account opening process to be rather straightforward where you complete an application filling your personal details and choose the platform you wish to work with.
On the positive side, it allows worldtradex greater flexibility in leverage and instruments while still serving clients from around the globe. The dashboard includes a “Monitoring” area where users can view and share their performance, charts, profits, orders, and history with others. Both the user and scammed by Worldtradex any interested party can access this section to see the performance of accounts that have opted for public visibility.