Check out my picks for the best mobile trading apps in the industry. Space is a smart feed with timely analysis of your favorite trading instruments. You can compare trading ideas, read explanations, and use global experience even if you’re a beginner. Traders may find the verification process inconvenient, but it plays a crucial role in ensuring their safety. It serves to prevent money laundering through KYC/AML policies and safeguards against anonymous withdrawals, protecting traders from potential theft. Verification doesn’t have to be done immediately upon registration, and traders can initiate it at their convenience.
Worldtradex provides fully functional mobile trading apps for MT4, MT5, and WorldtradexTrader that are available for both Android and iOS devices. These apps offer full trading capabilities, interactive charts, and technical analysis tools on the go. Worldtradex offers access to multiple robust trading platforms, which include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and WorldtradexTrader. Log in to your online trading account or download the app and launch it to start trading.
For example, when we attempted to close 0.3 lots from a position of 0.5 lots, the entire 0.5 lots were closed, and a new position of 0.2 lots was opened instead. However, when we performed the same operation for the same MT4 account from the Worldtradex app, we found that this partial closing was allowed. https://worldtradex.blog/ During our testing, we confirmed that no swap fees are charged for maintaining open positions not only overnight but also during the weekend for several days. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
- 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.
- Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
- Worldtradex offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments.
- There is certainly room for enhancement, such as the introduction of 24/7 support, yet the existing offering should meet the needs of the majority of traders and can be considered dependable.
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Worldtradex does not charge deposit fees, and processing times range from instant to a few days. The floating spreads for currency pairs involving the yen ranged from 1.9 to 2.6 pips, while major pairs (excluding EUR/USD) average around 1.5 pips. Spreads across different account types are similar, with WorldtradexTrader accounts offering slightly lower spreads for Forex.
Worldtradex is an up-and-coming broker that has been in operation for nearly 10 years. Its growth has enabled Worldtradex to continue to expand its products and services. Adding additional regulatory licenses in Tier-1 jurisdictions would be a step toward winning more client trust. 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. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still left wanting more.
A Broad Spectrum of Trading Opportunities
This means the app provides complete control over all open accounts and displays the full trading history. It features attractive charts for all three account types, allowing trading and modifications. From a trading perspective, the app is comprehensive, including an economic calendar and a section called “Space,” which features posts about different market assets filtered according to the trader’s interests. In this review, the FXStreet team presents an independent and comprehensive analysis of Worldtradex, grounded in direct testing and real user experiences. As a leading financial media outlet, our editorial content is driven by rigorous research and data-driven insights, all free from external influence. Worldtradex This assessment delivers a transparent evaluation of Worldtradex’s trading conditions, tools, support, regulatory standing, and overall suitability for traders.
We offer convenient portfolio management, transparent trading conditions, helpful educational materials, and easy-to-use service where nothing distracts you from making a profit. Every year we improve our conditions to make your trading journey easier. Worldtradex has over 50 different payment options, such as Visa, Neteller, Fasapay, and bitcoin, as well as a large variety of local bank transfers.
Worldtradex has improved its educational offering with webinars and live trading session recordings and expanded its educational articles and videos. I appreciated that it has begun producing videos on advanced topics, such as Elliot Wave trading. Worldtradex’s market research is well organized and varied in its content. Rather than specializing in any one field, Worldtradex provides a wide assortment of content types.
Trading Fees
Entry and exit orders were executed as intended, with only minor slippage observed. Limit orders were adjusted almost exactly to the specified price without jumps, though a small percentage of stop orders did experience some variation. Internal transfers between different accounts can be done from the dashboard and are nearly instantaneous. There is also the option to transfer funds to a wallet outside of these accounts but within Worldtradex. During certain events, Worldtradex offers a bonus where you can claim up to a 100% deposit bonus. All accounts are swap-free, meaning they comply with Islamic law.
Leverage
The broker also maintains a comprehensive FAQ section on its website, providing in-depth information on common queries related to trading, account management, deposits, and withdrawals. This is a distinct characteristic that avoids surprises, which are mostly negative for traders, especially on certain days when swaps can be doubled. The Worldtradex platform provides a web-based and mobile alternative, but there is no desktop version, which can be inconvenient for traders who prefer a dedicated program over a web browser. The web-based platform offers quality charts, allows for the placement of technical indicators and lines, and supports alerts that arrive as notifications from the broker. However, it lacks weekly and monthly time frames and does not offer an intuitive zoom tool. Likewise, Mauritius is considered Tier-4, as per our Trust Score algorithm.
- In 2012, it started organizing courses, and in 2013, it introduced its first bonuses.
- The network charged a fee of 1 USDT, and the remaining amount was credited to our account in USD within minutes.
- Our market analysis service offers the latest currency rates, including EURUSD and GBPUSD, intelligent technical analysis tools, and daily market insights from our experts.
- We also minimise the risk of loss by keeping your funds segregated from Worldtradex’s assets.
- Worldtradex offers a mere 257 tradeable instruments, which varies by platform, with the most on its MT5 offering.
The amount experienced a slight deduction due to conversion fees, but no additional charges were applied. 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. The minimum deposit is $25, while for several cryptocurrencies, the amount is approximately $50.
Finally, Worldtradex offers free educational resources such as articles and video tutorials. For more experienced traders, Worldtradex provides advanced analytical tools, including charting capabilities and various technical indicators. Worldtradex extends three types of trading accounts to suit diverse user needs – the Micro (MT4), Pro (MT5), and the WorldtradexTrader account. All three account types, beneficial for both beginners and professionals, provide fair and competitive conditions.
Worldtradex also operates under other entities that are regulated by lower-reputation organizations. This situation requires clients to place more trust in Worldtradex itself than in its regulators, as these regulations are more focused on preventing terrorism and money laundering than on execution-related issues. One negative aspect we encountered while trading with MT4 was that it does not allow for regular partial closes.
This allows less experienced traders to learn from and imitate the trading strategies of successful traders. Therefore, it not only facilitates learning for beginners but also potentially enhances trading outcomes. A demat account is a digital storage mostly used by Indian investors to hold securities in virtual form. The main difference between demat and trading accounts is that the former is just a repository, and the latter allows you to buy and sell your securities. With Worldtradex, you can trade a total of 300 trading instruments, including 52 Forex pairs and 277 CFDs, covering indices, commodities, and cryptocurrencies.
This feature ensures that traders cannot lose more than their initial investment. Periodically, Worldtradex offers the WorldtradexFX Champion Demo Contest, a monthly, risk-free trading competition using virtual funds. Participants compete for real cash prizes ranging from $40 to $500, with winners determined by the highest account balance after four weeks. To withdraw the bonus, the client must trade a number of lots equal to half of the bonus amount.