worldtradex Broker Review: Fees, Pros and Cons, Account Types

By providing a unique suite of resources, a VIP level of services, combined with world-class support 24/5, our low cost trading environment provides the ideal base to succeed. I use worldtradex for forex trading and have been impressed with the huge range of currency pairs, transparent fees and reliable MetaTrader 4 platform. I think the client dashboard and website could do with an overhaul though – they are pretty dated. Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, worldtradex has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission.

worldtradex holds a regulatory license from the Cyprus Securities and Exchange Commission (CySEC). It also operates an unregulated but duly registered subsidiary in Vanuatu, where most international clients trade. While an worldtradex no deposit bonus does not exist, worldtradex offers a 100% first deposit bonus with a $2,000 limit. Terms and conditions apply, and I urge traders to read and understand them before accepting the incentive. worldtradex occasionally introduces other bonuses and promotions, which have included a $50 worldtradex no deposit bonus or annual interest on free margin. It is a regulated broker with a European license, which ensures safety for trading and protection for clients.

The FAQ section answers many of the most common questions, and worldtradex is transparent about its products and services. Most traders are unlikely to require additional assistance unless of an emergency. worldtradex’s ECN/STP model provides professionals, active traders, hedge fund managers and corporate clients with access to real time streaming and competitive prices directly from leading multibank liquidity providers. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. It’s fine if you want a no-fuss trading experience but seriously lacking in the research tools, analysis features.

How do I open an account with worldtradex?

Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. Forex Broker Guru is a dedicated website that offers in-depth and detailed reviews of various brokers in the forex market. Our platform provides comprehensive insights into the performance, features, and reliability of different forex brokers.

worldtradex has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed. According to BIS (the bank for international settlements) the FX market is responsible for circa $6.6 trillion of turnover each trading day. The major international banks and financial institutions are responsible for the majority of this turnover. Through worldtradex and its ECN – STP model, clients can access this market in order to trade up to 28 currency pairs, from the recognised major currency pairs through to the minor and most exotic. MetaTrader 4 is one of the most popular forex trading platforms in the world today. All the necessary trading tools and resources are on hand to allow traders to conduct research and analysis, enter and exit trades and even use third-party automated trading software (Expert Advisors or EA’s).

Technology and Execution Speed

Traders can access the processing times and minimum/maximum deposits by clicking on the + next to each option. worldtradex transparently provides all necessary information on its website. There are no deposit fees, https://worldtradex.pro/ but several withdrawals face internal charges while third-party processor costs may also apply. ECN XL, also known as the ZERO account is one of the most cost effective trading accounts.

worldtradex Fees

The very first thing I noticed when I started trading with the https://worldtradex.club/ ECN XL account was the instant execution. I was trading with another broker previously, and after I pressed the buy or sell button, there was a little time to wait for the trade to be executed. So many times my trades were executed at a different price than the one I saw on the chart.Here things are completely different. Plus the spreads are tight.My overall trading experience and profits improve by far just by changing the broker I trade with.

• With a focus on transparency, competitive trading conditions, and customer satisfaction, worldtradex caters to both beginner and advanced traders.
• Besides the very frustrating withdrawal charge, worldtradex’s non-trading fees include a $5 inactivity fee charged after 120 days of dormancy.
• They have created different types of accounts with various features and minimum deposit requirements, making it easy for traders of all levels to get started.
• The platform allows orders to be placed in a variety of ways, including trading directly from charts.
• Tight spreads increase the viability of short-term trading strategies, while the no-commission model makes trading with worldtradex simple for beginners.

However, traders seeking stocks or deep education and market research will need to look elsewhere. Also, the offshore regulation for non-EU traders and expensive withdrawal fees are notable drawbacks. This app comes equipped with sophisticated charting tools, including 30 technical indicators, 9 different timeframes, and 3 varieties of charts, ensuring a comprehensive trading experience. Although some brokers like Vantage offer a similar service with less stringent qualifying criteria, worldtradex’s VPS, combined with its excellent pricing, will appeal to high-volume traders and algo traders. On the downside, worldtradex supports accounts in just a few currencies (USD, EUR, GBP), with USD only for wire transfers.

Compare Trading Instruments

The mobile application has proven to be stable and reliable during testing. Spreads are slightly higher on alternative products, while the withdrawal fee and inactivity penalty lower its fee rating somewhat. The international subsidiary, on the other hand, operates with limited oversight, and this holds the broker back from achieving a higher score. I’ve also read much of the educational content and was struck by its bland delivery with long-form text and limited videos or engaging elements like quizzes, all of which could elevate the learning experience.

On the negative side, there is a slim selection of trading platforms with access to MetaTrader 4 (MT4) only. Our team is also disappointed by the withdrawal fees and weak regulatory oversight through the offshore branch. The overall trading environment at worldtradex features a low cost structure and competitive asset selection, . worldtradex lacks more trading tools, like CFDs on stocks for example, which became so popular recent days. New traders have access to fourteen quality educational posts plus a dedicated section on major economic reports. Eleven eBooks complete the education at worldtradex, and the overall product remains impressive.