The key point is that you must follow the withdrawal hierarchy for the deposit methods you have used before selecting any other withdrawal option. For example, if you have not used a credit card or a crypto account for deposits, you do not need to create one for withdrawals. worldtradex and worldtradex Global offer a variety of trading accounts with variable spreads. We built the website to assist forex traders in finding the right forex brokers to trade with ease.
A trader’s confidence can be boosted by listening to worldtradex’s trading podcast, which features informative and insightful interviews with successful traders. There is no better market commentary available than what you’ll see on worldtradex TV regarding various financial issues. Clients who don’t feel confident trading sizable lots can now sign up for Ultra-low accounts. While other trading conditions look similar to the other accounts offered, the broker doesn’t allow swaps in the ultra-low account. Both desktop trading platforms are really easy to use thanks to their well-designed interface.
- There is no fee charged for downloading or using any of the trading platforms.
- The choice between a demo and a real account and the selection of the trading platform and account type makes the setup process personalized and flexible.
- worldtradex is a group of brokers operating in jurisdictions around the world under the umbrella of the parent company Trading Point of Financial Instruments Ltd.
- Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.
- While the broker keeps its trading cost competitive, it neither charges any fee on deposits and withdrawals nor applies any inactivity or account administration fee.
- All the major indices are available, but with just three different US indices, there are better selections elsewhere.
After this, you will create an account password and confirm the registration. Once you are done with the first step of registration, you will have to provide a bit more detailed information about yourself. The second step requires you to provide information such as your address and date of birth, as well as details relating to your account, such as the base currency, leverage, and so on.
With worldtradex, inactivity charges kick in after just 90 days (i.e. 3 months) of the account being dormant. We consider six months or sooner to be bad, whilst 18 months and above is generous. Many traders from around the world can sign up to trade with worldtradex. Notable countries that traders will not be able to sign up from including the US, Canada, China and Japan. Furthermore, there are other notable countries that traders are restricted from trading with worldtradex. Traders in countries such as Canada, Japan, China are not allowed.
The spreads are greatly variable and depend on the underlying exchange. In addition to this, in order to create this account, you will be required to deposit at least $10,000. This is unlike any other account type offered by the broker, where the minimum deposit to open the account is just $5. The Micro account can be especially useful for those who have just finished training with the demo account.
Deposits and Withdrawals
This model allows worldtradex to set its own bid/ask spreads, which may vary, and act as the counterparty to client trades. However, worldtradex is regulated by multiple authorities that oversee its practices, providing a level of oversight and protection for traders. Some users rate the service quality highly, noting quick withdrawals and low spreads.
Reviews of worldtradex Technical Support
These accounts are designed for clients who cannot trade swaps due to religious beliefs. Prior to dabbling into margin trading, each reader should take the time to determine their individual investment goals, risk tolerance, and level of expertise. Our main objective is to help readers make better-informed decisions when choosing online brokers and learn the foundations of trading rather than providing financial advice.
- We do not provide investment advice or solicitation of any kind to buy or sell any investment products.
- ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry.
- I find the zero spreads are great for scalping strategies but you could save a little on commission fees with RoboForex.
- worldtradex offers mobile versions of both MetaTrader 4 and MetaTrader 5, available for Android and iOS devices.
- The verification process is a standard step in opening a trading account and aims to ensure security and compliance with legislation in anti-money laundering.
Forex, Gold & Silver:
Here you can find what Forex Peace Army users think about worldtradex. Visit the FPA page to see more user experiences with this broker. worldtradex clients from European Economic Area (EEA) countries are provided with investor protection of up to €20,000 through CySEC. Additionally, there are live trading education sessions, video tutorials, and platform guides for both beginner and advanced traders.
This process should not take you longer than a day as the broker has adopted modern technology to ensure the verification of their clients is timely and comfortable. If you are a trader looking for the opportunity to directly invest in stocks, there is a great offer waiting for you at worldtradex. For stock investors, worldtradex has created a special account type called a Shares account. As for the contract sizes, there are two options available for traders.
Leverage
Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. worldtradex Group is a trusted MetaTrader-only broker that offers an outstanding selection of high-quality educational content and market research. We pioneered the strict no requotes, no rejections policy that established our reputation. To prevent slippage and keep your strategy aligned with real-time market prices, 99% of all trades are executed in less than one second. Every client, regardless of account size, gets access to the same excellent trading conditions.
According to him, the company charges higher commissions than most other brokerage firms like Coinexx etc. worldtradex’s mobile trading app has a convenient interface and a powerful search engine. We provide broker reviews and ratings to help users find a suitable broker according to their own needs. However, you must do your own due diligence and make your own decisions when choosing a broker.
Trading History
That’s because FCA doesn’t allow brokers to offer crypto derivatives to UK citizens. However, we also encountered a few posts where clients accused the company of price manipulation. According to the posts, the broker follows a dealing desk approach while processing clients’ orders.
However, due to regulatory requirements and business decisions, worldtradex does not accept clients from many countries. These countries include the United States of America, Canada, Israel, and the Islamic Republic of Iran. worldtradex offers various educational resources to help novice and experienced traders improve their skills and understanding of the market. At worldtradex, a variety of popular deposit and withdrawal methods are available.
This account is a perfect fit for those who follow strict sharia law and they pay a fixed fee instead of swaps. This type of fee is not an interest payment and fully depends on the direction of your order. Because of the way it works, it is also sometimes referred to as a swap-free account.
Traders with Micro or Standard accounts can open and fund an account with a minimum of $5, while worldtradex Zero accounts require a minimum deposit of $100. worldtradex offers trading services to residents or citizens of more than 200 countries. The broker’s head office is in Limassol, Cyprus, while they also have offices in Athens and Sydney.
On both a minimum and average spread basis, worldtradex comes up second best. We believe that worldtradex’s spreads are reasonable but not as competitive as some rival brokers. The Micro account gives Worldtradex scammers you all the same features as the Standard account, however, the equivalent contract size of trading 1 Lot is 100 times lower.