In our experience, the 0.2-pip average spread on EUR/USD is far tighter than most commission-free accounts, which regularly charge 1 pip or more for this major pair. worldtradex offers a decent selection of payment methods including standard card and wire transfers as well as crypto and e-wallet solutions. This is a convenient range and I was especially happy with the inclusion of crypto payments as these are highly flexible and should work for traders based almost anywhere. The broker uses a price aggregator to ensure that counterparty orders use the best bid and ask prices currently available.
worldtradex offers software that can be downloaded for PC, used as a mobile app for trading on the go, and includes a Multi-Terminal for managing multiple accounts at once. All worldtradex clients can access free trading tools through the Traders Hub, which provides various helpful features. These tools include VPS, SMS notifications, EAs, technical analysis, and trading tools.
Is worldtradex a market maker?
worldtradex does not impose any minimum deposit requirement for opening a live trading account, making it accessible for traders to start with any amount they are comfortable with. However, according to the payment method the minimum amount ma vary from 50 to 100$ per transaction so be sure to check those conditions, which we find slightly different in each worldtradex entity too. Following three months of account dormancy, the broker levies a $5 inactivity fee per month. Although this cost is meager compared to some other brokers, casual traders should keep this in mind. While other online payment systems like Neteller and Skrill have a set 2.7%, but bank wire transfers cost between $30 and $ 45. Also, worldtradex is a member of the Investor Compensation Fund, which secures the claims of covered clients against a company in case of its insolvency.
Importantly, all deposits are fee-free, and e-wallets like Skrill and Neteller process within an hour, compared to 5-7 working days for wire transfers. On the surface, this is an ideal offering that provides the best of both worlds, though in practice we found some instruments pricier than others, so you shouldn’t expect superior pricing across the board. Ryan Peterson is a seasoned personal finance writer with a Bachelor’s Degree in Business from Indiana University. Perhaps, it’s one of the most significant characteristics for traders. Working with worldtradex has been an undeniably trustworthy experience for me. Wherever you slice it, they have yet to disappoint me in ways that matter.
- worldtradex offers a single yet versatile account type – the ECN XL account, designed to cater to both beginners and professionals.
- Based on the MetaTrader 4 and 5 platforms, the worldtradex MobileTrader app offers customers a strong trading experience on demand.
- The software offers an impressive array of analytical tools, including nine timeframes and four chart types for each financial instrument to ensure detailed market analysis.
worldtradex utilizes two-factor authentication (2FA) to prevent fraud and secure accounts, adding an essential layer of protection for all users. Furthermore, the broker ensures that client funds are stored in Tier 1 banks, safeguarding these assets from potential risks. This commitment to security helps to instill confidence in traders who seek reliability and transparency. worldtradex maintains one of the cheapest Forex cost structures available, with commission-free quotes from 0.0 pips or $0.00 per 1.0 standard lot for the most liquid currency pairs like the EUR/USD and the USD/JPY. The average spread for major currency pairs is below 0.5 pips or less than $5.00 per lot, offering traders a distinct pricing environment advantage.
Deposit Options at worldtradex
Spreads on other key currency pairs are also competitive, coming in at 0.5 pips on the EUR/GBP and 0.7 pips on the GBP/USD. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Trading and investing in financial instruments comes with a high degree of risk and you can lose money. You should only engage in any such activity only if you are fully aware of the relevant risks.
Established in 2010, worldtradex has become known as a dependable broker in the forex trading space, regulated by the EU authority in Cyprus it provides reliable trading conditions overall. All information on this website represent subjective views of the authors and they are solely informational. The operator of the website or the authors of the articles do not bear any responsibility for any decisions that visitors may make after reading articles published on the TradingBeasts website. When you trade Forex, CFDs or other financial instruments you are exposed to a high risk of loss. We review and rate companies offering trading platforms for Forex, CFDs and other financial instruments. We do our best to warn people about scams and promote only companies we personally consider to be very good.
worldtradex Desktop MetaTrader 5 Platform
Additionally, worldtradex provides access to live market feeds and economic calendars to help you make informed trading decisions. It is safe and has the necessary security tools in place, and also has a lot of good trading conditions. We have not experienced any security Worldtradex scammers concerns during our many hours using the trading platform. worldtradex’s limited research and technical analysis tools are disappointing, especially given how useful these tools can be for discovering trading opportunities. Although some brokers like Vantage offer a similar service with less stringent qualifying criteria, worldtradex’s VPS, combined with its excellent pricing, will appeal to high-volume traders and algo traders. I really like the ‘average spread tool’ available on the broker’s website which displays fees over recent trading sessions.
Available from the website, worldtradex’s educational articles cover an array of important trading topics, such as matters pertaining to technical analysis and margin trading. Traders can use them to learn how to use various technical indicators, how market execution functions, what is slippage, and more. The articles are written in an easy-to-grasp manner so that even first-time traders can quickly understand what is being said with relative ease. worldtradex offers a single retail trading account with three base currencies – EUR, USD, and GBP.
Navigating the ever-evolving forex market requires a reliable and competent partner. worldtradex, an established ECN broker, has garnered significant attention for its commitment to transparency, tight spreads, and robust trading conditions. This comprehensive worldtradex review unravels the intricate layers of the broker, exploring its features, pros and cons, regulations, fees, trading tools, and more, to help you make an informed decision. If you’re just a typical retail trader, doesn’t matter which trading style your prefer, you can reveal your potential cuz trading conditions are favorable and flexible. Rather big leverage, tight spreads, accurate execution and Metatrader platform ensures stable & profitable trading. There are no commissions and tight spreads sourced directly from liquidity providers.
worldtradex, established in 2010, prides itself on being a pioneer in Electronic Communication Network (ECN) forex trading. Headquartered in Cyprus, it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers access to a diverse range of financial instruments through its award-winning trading platforms. worldtradex has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed. Founded in 2010 by a group of forex market professionals, Forex Central Clearing Corp. (worldtradex) decided to build on their vast market experience to become the most customer centric forex broker in the business.
Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. worldtradex shows clients how to obtain the most up-to-date rates, a step many brokers omit. It’s fine if you want a no-fuss trading experience but seriously lacking in the research tools, analysis features. However, they are still powerful platforms that will provide everything needed for experienced traders to conduct technical analysis while also being intuitive enough for beginners to pick up easily. 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.
Does worldtradex Have A Forex App?
worldtradex offers traders a transparent fee structure with no trading commissions under its ECN XL account, relying solely on competitive spreads. The broker focuses on keeping costs low, making it a popular choice among cost-conscious traders. Whether you are a beginner looking for a low-cost entry into the forex market or a professional trader seeking competitive conditions, worldtradex’s ECN XL account provides a solid, flexible option. worldtradex offers a solid variety of tradable instruments, catering to traders interested in multiple asset classes. The broker provides access to CFDs (Contracts for Difference), which allow users to trade a wide range of markets without owning the underlying assets. worldtradex’s offerings include commodities, currencies, cryptocurrencies, and indices, giving traders flexibility in choosing their preferred markets.
- 😂 Anyway, I joined them because their reputation speaks for themselves.Nonetheless, I was really surprised when I found out that it’s possible to trade crypto currencies here.
- While bank transfers could take longer, e-wallet transactions usually take one hour, and deposits are handled rapidly.
- worldtradex rewards traders who refer friends and colleagues to the platform through its Referral Program.
- After testing the app, it turned out that it provides real-time market access, sophisticated charting tools, and a range of technical indicators, among other basic capabilities.
To evaluate brokers, we test the accounts, trading tools and services provided. Over 200 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process. 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.
Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters. The minimum deposit at worldtradex usually starts at $100 or the equivalent in other currencies. worldtradex is registered in Vanuatu with registration number and regulated by the VFSC and CySEC. worldtradex is also registered in 26 European Union countries under the Markets in Financial Instruments Directive (MiFID).
I like how the process is all done online and shouldn’t take you more than a few minutes to complete. Applications for Corporate trading accounts should be submitted when a Legal or Registered Corporation intends to open an account. On the Corporate Account Application form, you will find areas specially designed for assigning an Authorized Representative(s), to trade, deposit or withdraw on behalf of the applicant. An economic calendar is an invaluable trading tool which is often overlooked and undervalued by traders. Being ahead of the curve; knowing the timetable of economic releases by way of a calendar, is an absolutely vital aspect to support trading performance. I believe that having access to a thorough, comprehensive and detailed economic calendar, is extremely important.
Support is provided in multiple languages, ensuring clients from around the world receive quality assistance. After reviewing worldtradex, we find that the company offers trading with the STP/ECN model and quotes directly from liquidity providers. They have created different types of accounts with various features and minimum deposit requirements, making it easy for traders of all levels to get started.