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. WorldTradex offers traders the core MT4 trading platform without third-party upgrades. With no minimum deposit, high leverage, and low trading costs, WorldTradex is ideal for beginner traders and demanding seasoned ones alike. Start trading with No commissions, No swaps, and tight interbank spreads starting from as low as zero.
- Our team is happy to see that WorldTradex does not impose any trading restrictions, meaning strategies such as hedging and scalping are viable.
- Our regulatory compliance extends beyond our CySec regulation in Cyprus, manifesting in our possession of the MiFID passport for financial services firms within the broader realm of the European Union.
- WorldTradex offers traders a competitive commission-free trading environment.
- We prioritize providing transparent pricing coupled with competitive forex spreads and the most cutting-edge trading platforms.
- One of the most ignored trading costs is swap rates on leveraged overnight positions.
- WorldTradex is also registered in 26 European Union countries under the Markets in Financial Instruments Directive (MiFID).
Deposits & Withdrawals
Importantly, we never recommend choosing a forex broker based on their bonuses as they can encourage bad trading habits. Having tested hundreds of forex brokers, I feel that the WorldTradex’s education section https://worldtradex.world/ is fairly average, with a decent range of materials available but nothing that stands out. WorldTradex uses a no-dealing desk model and does not act as a market maker, reducing the risk of price slippage or a conflict of interest by the broker. Our team highly rates WorldTradex’s forex offering, which includes 72 major, minor and exotic currency pairs and is on par with competitors like OANDA, which offers 68 pairs, and Forex.com with its 82 pairs. That’s a key factor for me and that’s why I decided to join them and I can say since the moment I started trading through this broker I didn’t have any problems.
Tools
Similarly, the ‘Market Analysis’ section had a focus on just three currency pairs during testing which is not wide enough in my opinion. The sign-up process is also pleasingly simple and there is a swap-free solution for Muslim traders available upon request. This means that clients of WorldTradex’s offshore branch won’t get the same level of protection and won’t have access to compensation schemes or trusted regulators if things go sour.
Does WorldTradex Offer Low Forex Trading Fees?
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. Positives are the no minimum deposit, free demo account and excellent support, however it lacks the educational tools or social trading features provided by category leaders like eToro. 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).
Is WorldTradex A Regulated Broker?
Immerse yourself in the realm of unadulterated straight through processing and elevate your trading journey. We are not just another broker in the industry; we consider ourselves trailblazers. Whether you are a novice or a seasoned professional, we are poised to assist you in your trading ambitions.
- It is one of the most advanced trading accounts, packed full of features and benefits, currently available in the forex industry.
- Yes, it is possible to have a profitable strategy when trading with WorldTradex, which offers the reliable MetaTrader 4 platform and plenty of analysis to support forex trading.
- EeziePay and AWEpay process both deposits and withdrawals instantly, however you should be wary of currency conversion fees.
- The account stands out as a competitive option for traders of all experience levels.
- This arrangement is an integral part of our security apparatus, aimed at fortifying our clients’ confidence.
Overnight Funding Fee
Like, they dont lure you in with leverage, dont create 15 account types. They dont have their own cooked up half-working trade platform, instead its tried and tested MT4 which is the best trading platform for retail by far. 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.
WorldTradex offers a variety of convenient deposit and withdrawal methods to accommodate traders’ needs. Once these steps are completed, traders can access their account and begin trading immediately. WorldTradex applies a spread-based fee for forex trades, with no additional forex-specific charges. Clients may also use their Facebook or Google accounts to open an account. Since WorldTradex is a regulated and fully compliant broker, new traders must pass account verification per AML/KYC stipulations. A copy of the ID and one proof of residency documents usually satisfies this final step.