This feature gives users the opportunity to automatically copy leading traders and learn different trading strategies from them. Clients can, on creating and funding an account, find, follow and copy these leading traders at will. While some people praise the broker wholeheartedly saying it’s one of the best online trading brokers, others say it is no scam but is poorly managed. However, there are a good number of posted reviews of people denouncing the broker for withdrawal problems and bad trading experience.
worldtradexFx Copy Trading
Feedback and rankings from authoritative sites like “Trustpilot” on the TradingFinder website assist all traders. 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. You can request a human agent who was surprisingly not as helpful as the AI with canned answers and no depth of product knowledge. This was frustrating when asking questions about their services and trading accounts as I felt they didn’t answer the question. worldtradex has a decent selection of 34 cryptocurrencies covering Bitcoin, Ethereum, Ripple, and Litecoin which is a healthy selection of highly liquid crypto markets.
worldtradexFX also offers free demo accounts and we are happy to report that these demo accounts have no set expiry date. However, if you leave the demo account inactive for 60 days, worldtradexFX will deactivate it. Compliance with regulations is crucial for any trading platform, including worldtradexFX.
The demo account provides real-time price feeds like a live account but gives you virtual funds to trade in a risk-free environment. I opened an worldtradex trading account and tested the broker’s spreads, trading conditions, and platforms to see how they performed against 20 other brokers. In this worldtradex Review, I’ll go through my findings helping you decide if worldtradex is a broker you should consider. worldtradex gives a high priority to analysis and education for both new and experienced traders to its platform, having won a couple of awards in 2023 for ‘best education broker’.
If you prefer to trade less liquid and higher risk assets you also have access to altcoins like Dogecoin to speculate on. Overall, the account opening process took 3 minutes which is the fastest application I have completed for opening a live trading account. I think having worldtradex Copy is a good alternative for beginners or those who don’t want to invest their time in learning how to trade. At least this way, you can copy an experienced trader and benefit from leveraged products such as forex, crypto or commodities like gold.
In some places, you will also be allowed to make deposits through Bitcoin. In terms of the time it takes, wire transfers can take 3-7 business days to complete, while the other deposit methods are all typically instant. worldtradexFX doesn’t charge traders any commission for holding an order overnight. Here you can benefit from the ICF insurance protections provided in the case of bankruptcy or insolvency. This physical office presence is still quite light compared with other major brokers, but worldtradexFX does offer trading worldwide. Still as a trader, you can bank on the legitimacy and security provided by CySEC regulation.
- From trend lines, to crosshairs, to zoom tools, they offer a broad range for trading optimization.
- The account is available on both MT4 and MT5 trading platforms, and comes with market execution.
- In today’s fast-paced world, mobile trading is not just a luxury but a necessity.
Headquartered in Saint Lucia, the company has grown to serve over 12 million client accounts from more than 180 countries. worldtradexFX is regulated by several decent financial authorities and has a good record in that regard. worldtradex is based in Saint Lucia but has multiple entities outside of Saint Lucia to provide financial services to clients in 180+ countries. Depending on where you are from, you can open an account with a different entity that is regulated by either CySEC, MAS, or FSC. With 300 markets I found worldtradex provides the major financial instruments most traders would focus on such as forex majors, gold, stocks like Tesla, or cryptocurrencies like Bitcoin.
- worldtradex is so confident about its pricing that there is a section of its homepage dedicated to sharing the live spread on some major forex pairs.
- However, the offshore entity of the broker is regulated by just a 3rd tier regulatory body.
- The number of markets is also different across the platforms, but none of them offers a range of instruments that could in any way be called excessive.
- However, it’s also crucial to note that while many users have reported positive experiences, a few have raised concerns regarding withdrawal delays and limited educational resources.
In the dynamic world of trading, numerous platforms have emerged, providing novices the opportunity to emulate the strategies of professional traders. Recognized as the ‘Best Copy Trading Platform 2020’ by Forex-Awards, worldtradexFX’s program isn’t just another run-of-the-mill offering; it’s a testament to dedication and precision. The world of trading is evolving, and with it, the tools and platforms traders use. Enter worldtradexTrader, a platform meticulously designed to align seamlessly with your trading style, ensuring a smooth and intuitive user experience.
Supported Countries
On the other hand, its cTrader server is a hosted solution from Spotware. Regardless of which platform and account you are using, worldtradexFX claims that its order executions occur within 0.1 seconds. During our latency tests, we found the claims to come reasonably close to reality. For all accounts, the minimum trade size is set on 0.01 lots or 1 micro lot (1,000 units).
There is virtually no performance differencebetween these mobile apps and desktop apps. The live chat is 24/7 which is great to see, but the experience I’d say is a mixed bag. I like that you don’t have to fill out a questionnaire for support, you are taken directly to help in the form of AI. I was impressed with the efficiency and low-cost approach to depositing and withdrawing with worldtradex. The range of deposit methods is decent, covering traditional, e-wallet and crypto, giving you a great choice of how to deposit (and withdraw) with no fees. Crypto is the slowest to deposit with 3-30 minutes which is still extremely fast in my books as some brokers can take 24 hours to credit your account.
Easier trading with MetaTrader 4
Managing risk is of course a vital element for any forex trader and broker combination. worldtradexFX utilizes all of the tools that are in place with your trading platform to help you to do this. The promo codes, according to their customer support, is a unique offer for some new clients.
Cryptocurrencies
The variable spreads start from 0.2 – 0.4 pips with a commission already rolled in and no other mark-up to worry about on your MT4 Micro, or MT5 Pro Account. You will also find fixed spreads available on the MT4 Micro account that start from 2 pips. Yes, it offers a referral program where users can get to invite friends for incentives. The referral program known as Invite-a-Friend has its commission rate to be 1$ per 1 standard lot. The company’s educational library is well maintained and offers rich learning resources that includes webinars, articles, platform tutorial videos and a video course. In addition, worldtradexFX also keeps user funds distinctfrom that of the company.
Those looking to develop their skill set or improve their trading technique can draw on the support on hand, which is designed to cater to beginner intermediate and experienced traders. Spreads start as low as 0.6 pips, which means you can maximize your profits. Plus, there are no hidden fees for deposits or withdrawals, making it a cost-effective option for traders on a budget. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. worldtradexFX, in its essence, is a globally recognized broker that extends its services primarily to clients in Asia. It offers an intuitive platform that encompasses a broad spectrum of tradable instruments, catering to both novice and seasoned traders.
How are Execution, leverage and position sizing with worldtradexFX?
Taking a look at the CFD markets available from worldtradexFX, it is noted that they offer a little more than 70 assets in total. Some of them may not be available within every region or account type. With that said, they still offer good value in terms of trading conditions. 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.
Clients can initiate a withdrawal by logging into their trading accounts and clicking on the withdrawal option, visible on the homepage. After clicking on the withdrawal option, next is the selection of the Worldtradex forex brokers reviews payment methods, and the amount to be withdrawn to get the withdrawal completed. The mobile app offers a wide array of tools and indicators ranging from trends, to oscillators, to volumes and lastly bill Williams. Theactual commission charge is based on a mixture of standard prices and markupspreads.
In addition to keeping the client’s investments safe and separate from its capital, the broker ensures maximum transparency. However, the company’s offshore entity is not regulated by a tier 1 regulatory body, which offers a less sense of security. worldtradexFX basically offers two types of trading options – spot market trading and contract for difference or CFD trading. Traders can invest in a range of options on worldtradexFX including currency pairs, cryptocurrencies, stocks, market indices, precious metals, and other commodities. This combination of financial investment options allows for great profit potential. Investors can benefit from trading on the most popular market indices such as NASDAQ, Eurostoxx 50, Dow Jones etc.
worldtradex has made significant progress in a relatively short period of time. Since entering a very competitive market eight years ago, it has built up a client base of almost one million traders and won a host of industry awards. Such success is built on developing an approach that is, first and foremost, trader focused. One way in which worldtradex leads the sector is its willingness to share data on its own operations. In line with this transparent approach, it also provides a range of metrics relating to the performance of its customer support team. It’s always nice to have extra security tools thrown in and worldtradex provides more than most.
