A spread is a difference between a financial instrument’s ‘bid’ and ‘ask’ prices. The broker’s spreads on all types of assets seem to be competitive. The minimum spreads for forex and other tradable instruments are listed in the table below. Additionally, worldtradex provides over 20 equity index CFDs, 5 commodity CFDs, and futures Worldtradex review CFDs on various assets, including precious metals and energy markets.
However, in our experience the receipt of funds for the withdrawal to our debit card was within 24 hours. All accounts offer negative balance protection, hedging and Islamic option as standard. If the currency you deposit into your account is not USD, the amount shown is the equivalent in the deposit currency.
worldtradex Group is a trusted MetaTrader-only broker that offers an outstanding selection of high-quality educational content and market research. While worldtradex provides accessible support through various channels, diversifying communication channels could enhance the overall customer support experience. To summarize, the broker is committed to educating its traders, but further enhancing and diversifying educational resources would better meet traders’ needs and align with industry leaders. worldtradex may charge an inactivity fee if your trading account remains dormant for a specified period (more than 90 days). This fee encourages active trading and helps cover administrative expenses. Traders can have confidence knowing that their investments are protected and that they are trading with a broker that operates under the supervision of respected regulatory bodies.
Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Clients are likely to incur some trading fees and commissions at worldtradex.
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- Like all other accounts, the share account is also convertible to swap-free Islamic accounts upon request.
- On the plus side, we think they have an excellent selection of stocks CFDs, in addition to a decent selection of forex pairs.
- Withdrawals are only possible after the verification process has been completed.
- Tom-next rates are determined by the money markets and are interest rate differentials between two currencies.
- worldtradex has also really put the effort in when it comes to Research and Education.
- Newbie traders will often prefer to practice before they trade.
Traders can keep their costs down by trading with spreads that “can be as low as 0 pips” (although not always this low). For this privilege, traders will have to pay a commission of $3.5 (both in and out) for every 1 Lot traded. (See Trading Costs for a comparison of the spread versus commission account models). To help facilitate the customer service that worldtradex offers its clients from around the world, it claims to have support in over 30 languages.
Additionally, extra services such as copy trading, contests, VPS, and a loyalty program enrich the trading experience and meet the diverse needs of traders. Typical round trip costs on leading pairs EUR/USD are 0.8 pips in the worldtradex Zero account. worldtradex charges an account inactivity fee of $5 per month after 90 days but no additional fees on deposits or withdrawals except where an amount of less than $200 is moved by wire transfer. Other charges include overnight swap fees, which is usually a net charge applied to every trade daily. Those looking for tight spreads may prefer signing up for the Zero account at worldtradex.
The account opening process at worldtradex Group is marked by simplicity and convenience. Registration takes two steps and only requires 2 minutes, with clear instructions at each stage. 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. Verification is also straightforward, requiring only a primary document to confirm identity. Navigation is intuitive, I trade here forex pairs and tried trading trubo stocks, there were no questions. It’s interesting that the broker was granted with almost all “A” points on certain parameters, but still got 81 score out of 100.
Islamic accounts fully comply with Sharia laws and do not include swaps or interest for carrying positions overnight, making them an ideal choice for Muslim traders. The worldtradex Group of companies holds licenses from leading regulators in various jurisdictions, including ASIC in Australia, CySEC in Cyprus, FSC in Belize, and DFSA. These licenses testify to the company’s strict compliance with international standards and regulatory requirements. Even though worldtradex provides comprehensive tools, it is still lacking when compared with other brokers, as Autochartist, Trading Central, and TradingView are not yet integrated. 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. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com.
Deposit fees
You demand the best trading experience; our awards reflect our desire to provide it. Additionally, there are live trading education sessions, video tutorials, and platform guides for both beginner and advanced traders. There is a minimum withdrawal amount of $5 (or equivalent) for all accounts except for the worldtradex Shares Account which has a minimum $10,000. Micro and Standard accounts have slightly wider spreads compared to Ultra Low accounts, but both are eligible for the worldtradex Loyalty Program. Certain account types may limit which base currencies can be selected. For example, worldtradex Zero accounts are limited to USD, EUR, and JPY.
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Like Trustpilot, the FPA community also seems divided concerning signing up with worldtradex. Some clients appraised the broker for having ultra-low spreads and a fast withdrawal process, while others denounced the company for poor trade executions. Clients also criticised the broker for its high spreads & commissions and poor customer support. Overall, the company seems to have failed to make a good impression on Trustpilot users. 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.
- Once traders gain experience of the whole trading experience they can migrate to the Standard account for larger contract sizes.
- They can keep it in-house (and therefore effectively take the other side of the trade to the client), or they can push the risk out to liquidity providers.
- The company processes a withdrawal request within one business day.
- It’s a big investment, and sometimes, it just doesn’t make financial sense for them.
- If you consider using worldtradex as your broker you might be wondering if the broker accepts US Clients.
Company Information
The conventional way of judging the quality of regulation that a broker holds that the more the merrier. worldtradex has been gradually expanding its regulatory licenses over the years and is now up to three. Starting with the regulation in Cyprus (which covers the EU’s ESMA regulation), expansion has included Australia (a strong, tier-one jurisdiction) and latterly in Belize. worldtradex is registered and regulated in several countries, with its primary registration and headquarters located in Cyprus. When choosing a terminal, note that stock CFDs cannot be traded on MetaTrader 4.
User reviews from ForexPeaceArmy
The website suggests that worldtradex offers 1377 instruments, but the vast majority of these are stock CFDs. At worldtradex, a variety of popular deposit and withdrawal methods are available. The processing time for a withdrawal request is one business day, which is the standard. However, it should be noted that cryptocurrencies are not included in the list of available methods, which may limit options for some traders.
There is also a withdrawal priority procedure if you have funded the account by different methods. If you have deposited via a credit/debit card then the withdrawal back onto the card can cover the deposit amount. Anything above this amount can then be transferred via bank wire or e-wallet for the remaining transfer of funds.
Founded in 2009, worldtradex has over 1000 trading instruments and multiple account types which are designed for newbies, and experienced and professional traders. Trading tools are also provided to assist the traders with market analyses. There are 1,500+ worldtradex trading instruments and the broker seems committed to providing first-rate services in the foreign exchange market. While clients have 1,250+ stock CFDs, 50+ forex pairs, 13+ equity indices, 30+ crypto CFDs, and 15+ commodities to trade on worldtradex.
