For the same pair on the other two accounts, the average spread for this currency pair is 1.7 pips. They offer more than 30 language options for their users and they cater for any and all levels of trader. One of the recent awards they have received is being named as the best FX broker in Europe in 2018 by the World Finance Magazine. Master the markets with insights from our team of more than 70 expert educators and free educational resources. Reduce your costs with low spreads and even lower swap fees and commissions.
Indices
worldtradex offers Islamic swap-free accounts, featuring no swap or rollover interest, unchanged spreads, no upfront commissions and traders can hold positions indefinitely. In contrast to some other brokers that charge an admin fee after a certain time period. To open an Islamic account, traders must first create and verify a regular account, then request the Islamic 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. You can proceed with the next available method in your withdrawal options, which could be an e-wallet or bank transfer, depending on your previous deposit methods and worldtradex’s policies for your region. Deposits into worldtradex trading accounts can be made in various currencies, including USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR and USDT.
It is possible to make deposits in other currencies outside these listed but there will be exchange fees. The only platform that is offered by worldtradex is MetaTrader, which is an industry standard trading platform. They offer both MetaTrader 4 and MetaTrader 5 and they have tweaked them slightly to suit the specific needs of their users. worldtradex is regulated by multiple financial authorities, ensuring your funds are always secure.
Additionally, worldtradex provides over 20 equity index CFDs, 5 commodity CFDs, and futures CFDs on various assets, including precious metals and energy markets. Traders can keep their costs down by trading with spreads that “can be as low as 0 pips” (for currency pairs such as the EUR USD and the USDJPY). For this privilege, traders will have to pay a commission of $3.5 (per lot per side) for every 1 Lot traded, or $7 per round trip. The commission is on top of the very tight spreads , starting from 0.0 pips on major currency pairs.
Anything above this amount should be transferred via bank wire or e-wallet. Specific terms and conditions apply to these incentives, with clients being able to opt out of the bonus scheme whenever they wish. Based on customers’ deposits, the broker offers a 50% bonus plus a specific percentage of the amount being deposited.
worldtradex Broker: Trade with a Global Leader
Please consider contacting a professional advisor if you require any financial assistance. worldtradex claims to speak over 25 languages and customer support is available through all the usual communication channels. We were satisfied by the availability of human support, which is an excellent feature for novice traders. It is difficult to think of what they could do more to support their customers. If you are a trader registered under the worldtradex Global entity (Belize regulation) you can have a Shares Account which means that you can trade the underlying company shares (i.e. not just the CFDs). There are 100 to choose from and are all major US, UK and German companies.
Spreads & Commission
This account is great if you are worried about blowing up your trading account by making mistakes on the platform such as using the wrong trade size. Once traders gain experience, they can migrate to the Standard account for larger contract sizes. However, some users have complained about slow and unclear withdrawal processes, occasional platform issues during volatile markets, and confusing bonus terms that might not be easy to use. These issues seem to affect certain regions more, especially in Africa and parts of Asia, where local banking systems, internet issues, and regulations might make things harder. Ultra Low accounts offer tighter spreads for cost-conscious traders, though they are not eligible for the Loyalty Program. worldtradex and worldtradex Global offer a variety of trading accounts with variable spreads.
Currencies accepted for deposits/withdrawals
If you are looking for a platform that is easy and straightforward to use and that looks after their users, worldtradex could be the right option for you. Stay informed with daily market updates and analysis from the worldtradex Research Team. Explore some of our must-have products that keep everyone trading with us time and again. Enter the world’s most liquid market with the confidence of having a leading broker at your side. There are nearly 1300 individual stock CFDs from 18 countries around the world.
They are based on “tom-next rates”, or the interest rate differential between the two currencies involved. However, with the zero spread account, you will pay $3.5 commission per 1 lot (100,000 units) traded per side. This commission is paid when you open and when you close the position, totaling a $7 commission per round trip. worldtradex generally offers competitive minimum spreads, especially on major pairs like EUR/USD and GBP/USD, but is occasionally outperformed by IG Markets and AvaTrade on some instruments.
If you are tight for time, here are some of the important features that we like about trading with worldtradex. worldtradex is unable to accept clients from the United States of America, Canada, Israel and Iran. worldtradex are regulated by several top-tier authorities across its various regions, including CySEC (120/10), FCSA (49976) and DFSA (F003484). worldtradex also offers worldtradex TV, podcasts and news feeds from Reuters, an Economic Calendar, along with YouTube Shorts and daily technical stories.
- In our opinion, the withdrawal hierarchy process may cause confusion, leading to some of the dissatisfaction, delays, and payment issues mentioned in some of the client reviews.
- Anything above this amount should be transferred via bank wire or e-wallet.
- worldtradex is regulated, which adds to its credibility, and their 24/7 multilingual support means you can get help whenever you need it, which is a big plus.
- worldtradex and worldtradex Global offer a variety of trading accounts with variable spreads.
- BestBrokers.com is free to use for everyone and it may earn a commission from some of the listed trading platforms with no additional cost to you.
This includes over 350 CFDs, as well as 57 currency pairs and 5 cryptocurrency CFDs. Get started with the MT4 platform in any way you prefer and enjoy a seamless cross-device experience designed to fit your trading style. Open an account today to access fair conditions and get everything you need to achieve your trading goals. European clients under the CySEC jurisdiction are covered by the Investor Compensation Fund (ICF). If a finance company under the CySEC jurisdiction fails then its clients are protected up to €20,000. This could be better if worldtradex had Financial Conduct Authority (FCA) regulation then clients would be protected up to £85,000.
- Open an account today to access fair conditions and get everything you need to achieve your trading goals.
- The 3 chart types and 30 technical indicators of MT4 migrate well, whilst there are also push notifications for trading alerts.
- All deposits via credit/card and e-payment options clear into your account instantly.
- In total, there are 356 different CFDs offered by worldtradex, with five of these being cryptocurrency CFDs.
- If the currency you deposit into your account is not USD, the amount shown is the equivalent in the deposit currency.
Practice Trading with an worldtradex Demo Account
We maintain segregated client accounts and implement strict security measures to protect your data. Join a truly global and regulated broker to explore your forex trading potential. 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. BestBrokers.com does not assume liability for the financial losses our readers can potentially incur while trading with the online brokers we shortlist. Readers should bear in mind online trading with leveraged derivatives carries a high level of financial risk.
The Learning Centre hub is another area of the site for traders to learn their craft. We are impressed with the selection of educational videos, platform tutorial videos, whilst the worldtradex Live https://lunarcapital.live/ video feed is a service you will very rarely see with rival brokers. Some brokers will charge for additional withdrawals in a month, regardless of the method.
It is, therefore, unsuitable for those who lack proficiency and sufficient experience. One strong point is that worldtradex extends negative balance protection to all its clients, not just the EU clients that it is required to by law. This means that traders cannot lose more money than they put into their account and is excellent for beginners especially.
