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worldtradex FX Trading Platform Reviews, FAQs, Pros and Cons

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June 19, 2024

worldtradex FX Trading Platform Reviews, FAQs, Pros and Cons

worldtradexFx offers 33+ forex pairs, inclusive of majors (the EUR/USD pair, GBP/USD, USD/JPY), minors (EUR/GBP, GBP/CAD, AUD/CAD) and other exotic pairs. Clients are allowed to trade their favorites, and at that, with low spreads. The 50% bonus is more applicable to experienced traders or those confident in a long-term relationship with the broker. worldtradex offers services through Orinco Capital (Pty) Ltd, primarily for clients located in Africa. This entity is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, which is a more stringent regulatory body, though not top-tier. However, it does not provide Percentage Allocation Management Module (PAMM) accounts or Multi-Account Manager (MAM) services.

The broker claims to process all withdrawal requests received within 1-3 hours. Depending on the withdrawal method used, the minimum withdrawal amount is $5. However, customers can withdraw as many times as they wish and withdrawal is free. This is a distinct characteristic that avoids surprises, which are mostly negative for traders, especially on certain days when swaps can be doubled. However, the range of available methods for the region where the review was conducted from is not very broad, as transfers and credit cards (debit) are not available. Still, the experience with cryptocurrencies was quick, successful, and efficient.

Charting Tools

Overall, the account opening process took 3 minutes which is the fastest application I have completed for opening a live trading account. The deposit options with worldtradex are decent, giving you multiple ways to fund your account with no deposit fees. The only traditional method available was Mastercard (debit card) which I used to fund my account and was instantly applied to my trading account after making my deposit. The worldtradexTrader has the least options for technical analysis too with 19 indicators, 11 drawing tools, and 7 timeframes.

It has no restrictions on Stop/Limit levels and allows users to perform multiple functions like reverse, double or close all positions in one click. CTrader has a desktop version, and is also available in apps for android and iOS. With demo accounts, the ability to trade in micro-lots, copy trading, and strong educational resources, I rate worldtradex as a suitable broker for beginners. Experienced traders can take advantage of the advanced features in the MetaTrader platform, such as automated trading. There is also the possibility of earning extra money as a Master Trader within the copy trading platform. A standout feature of FBS is its user-friendly platform that appeals to beginning investors.

their platform

In South Africa, worldtradex provides financial services to clients through an intermediary, Orinoco Capital, which is licensed by the Financial Sector Conduct Authority (FSCA). These include credit cards, bank transfers, e-wallets (Skrill and Neteller), and crypto. worldtradex also offers social copy trading, which is great for beginning traders.

Deposit Methods

Becoming regulated in more jurisdictions – especially in Tier-1 jurisdictions – will go a long way towards building trust with existing and prospective customers. All information presented on TopBrokers.com website, including charts, quotes and financial analysis, is informational and doesn’t imply direct instructions for investing. For those wanting to learn more about MetaTrader platforms, we recommend reading our MetaTrader 4 review.

  • worldtradexFX provides an Islamic account or free swap specifically for Muslims, the free swap feature will automatically be active for Muslim traders after verifying documents.
  • That being said, there isn’t much educational content for learning how to trade or understand market dynamics.
  • Instead, you can make profits by predicting how an index is going to change and opening a corresponding long (Buy) or short (Sell) position.
  • For those new to forex trading, we recommend resources such as How to Create and Manage a Forex Trading Strategy.

Here you can learn the ropes, ideal for a beginner, with no obligation to enter live trading. In this worldtradexFX review, you will find everything you need to know on the key areas of the broker like spreads, account types, and security. Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out worldtradex’s educational offering. That being said, there isn’t much educational content for learning how to trade or understand market dynamics.

  • There are other broker platforms that charge zero pips and low or zero commissions.
  • These are Gold, Silver, WTI, Natural Gas and Brent Crude oil, with the oil commodities only being available to trade through MT5.
  • One of the standout features of worldtradex is that it does not charge swap fees.
  • ALso, the points worldtradex does not win include instrument selection, lack of commission based accounts and more of the basic choice of platforms, buut spreads and costs at worldtradex are considered good.

What extra trading services does worldtradexFX offer?

Live chat is the main means of contact; it provides quick help and is open 24/7 in English, Hindi, and Urdu, among other languages. worldtradex is among the fastest brokers in terms of Worldtradex scammers fund accessibility since withdrawal requests are handled quickly—usually within one to three hours. Still, the chosen payment method and geographic location could determine the real-time for money to get to the trader’s account. worldtradex Cyprus entity together with its operations established under ESMA rules offers lower leverage levels as defined by the regulator. This means that European traders or those clients that are registered with worldtradex European entity will fall under ESMA regulation Leverage.

On the positive side, it allows worldtradex greater flexibility in leverage and instruments while still serving clients from around the globe. After selecting this option, we entered the amount, wallet address, and a security PIN (sent via email during the account setup with worldtradex). The request was completed in under a minute and did not require sending an email or notifying customer service. To withdraw the bonus, the client must trade a number of lots equal to half of the bonus amount.

Over two years of research and development, we have interviewed traders worldwide, discussing the platform’s usability. Participating in financial markets involves high risk, which can result in the loss of part or all of your investment. Major indices represent entire national economies, so you can find trading opportunities by analysing any kinds of political and financial news. Look out for corporate announcements from major companies in the index you are trading or check out the economic calendar to find relevant events.

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. Founded in 2011, worldtradex (formerly worldtradexFX) is part of a group of global entities, which include worldtradex Markets LTD (based in the island of Mwali) and worldtradex Markets Cyprus Ltd (based in Cyprus). worldtradex also provides financial services through its intermediary, Orinoco Capital (based in South Africa). Lastly, worldtradex also has an entity regulated in Mauritius, through Uni Fin Invest .

As a copier here, you also will not be charged any other commission besides that set by the person you are copying. This amount can vary depending on the master as they have freedom to individually set commission. This bonus is also withdrawable though you must meet certain terms and conditions set by the broker. You can access strategies to follow through the community forums and program your own with MQL5 and C# fully supported.

You also have a track record of the trader’s order history, giving you a transparent insight into the trader’s performance. I also found an interesting feature called Spaces where you can customise an area with trading alerts and real-time news announcements. MetaTrader 4 is a great option if you use custom indicators or strategies as it provides the MQL4 library which you can use to create bespoke strategies. If you lack the programming skills, the MetaQuotes Marketplace provides a library of 10,000+ custom indicators from the MT4 community you can use.

It’s often considered one of the best forex trading apps for beginners, thanks to its easy-to-use interface and wealth of educational resources. Through the mobile app, clients can access multiple financial markets. CFDs on currency pairs, equities, indices, commodities, etc., on the go. Most of the trading tools and indicators offered via the desktop version are readily available on the mobile trading app.

With the mobile worldtradex app, you can manage all accounts without downloading MT4 and MT5 on your phone. However, not all platforms have the same instruments available for trading. In our review, the entire withdrawal process took less than 35 minutes.

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