Spreads¹ for the EUR/USD start at 1.3 pips as per worldtradex’s spread report (Q1 2021), and there are no fees for deposits or most withdrawal methods. worldtradex does not charge commissions² either, and pricing is clear and reliable. Since 1999, worldtradex, has been a pioneer in developing online forex offerings for retail traders. With its headquarters in London, Stratos Markets Limited (“worldtradex”) has grown to have multiple international offices and is licensed in several major regulatory hubs globally.
- Its majority economic owner is publicly traded on the NYSE, and the broker segregates client funds and offers negative balance protection to clients onboarded under worldtradex AU, worldtradex EU and worldtradex LTD.
- Market analysis tools consist of the standard tools most brokers offer.
- Residents of American Samoa are not eligible to apply for an worldtradex live trading account.
- The average spread for EUR/USD is 1.3, and users can view an updated list of average spreads on the “Spread Costs” page.
- After our in-depth review of worldtradex, our team can confidently recommend this broker.
Finally, some of worldtradex’s educational content is only available if your balance exceeds certain minimum thresholds. While minimum balance requirements could incentivize some traders to utilize the educational resources, I think it’s better to make the content free for all clients. Motivation can instead be inspired by creating interactive courses that feature quizzes and incorporate progress tracking. It’s worth mentioning that your trading account balance must meet a threshold to access certain educational content. It is also a great option for active traders who benefit from an abundance of technical analysis tools, including over 150 analytical tools and a wealth of customisable charts and drawing tools. Trade ideas come in various forms, including mixed into the news, via the trading signals, and via the Before the Bell newsletter.
When making a deposit into your account with a credit card or debit card (Visa or MasterCard) there is a minimum of $50 per deposit and a limit of $30,000 per month for all worldtradex clients. Methodology updates are made so that new broker features and products are taken into consideration. Review updates ensure that all the information we provide is current and correct.
Mobile trading apps
Bolstered by a great and long history, worldtradex offers valuable trading conditions, excellent client safety, and a wide range of trading instruments. As you can also take advantage of educational materials and advanced platforms, we’re sure it’ll suit you no matter your level of skill or budget. There are abundant support resources online and on the worldtradex website for ZuluTrade, MetaTrader 4, and NinjaTrader, as all three are used by numerous forex brokers. You will also find plenty of support for worldtradex’s Trading Station and forex trading in general in the education section. This includes trading guides, speakers, a video library, and a live classroom. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
If you prefer social or copy trade, then Zulu Trader might be your preferred choice of the trading platform. This type of trading allows you to copy the trades of experienced traders, making it a great choice for beginner traders wanting to learn the trading strategies of successful traders. The feature gives users the ability of traders to share ideas and strategies and help other traders.
Standard Account Fees
Our review of worldtradex found that the broker is regulated and licensed from the following institutions; the FCA, ASIC, ACPR, AMF, and FSCA. As these are all top-tier authorities, and worldtradex has a long history, the broker’s trustworthiness is guaranteed. Withdrawals are completed via credit or debit cards or bank transfers. The amount you withdraw to a debit/credit card cannot exceed the amount originally deposited. Withdrawals via cards do not have fees, but there is a $40 fee for bank wire withdrawals. This also tends to be the quickest method, taking about 3-5 business days.
- You will notice that the spreads¹ are competitive, especially as accounts do not have steep minimum deposits or commissions.
- Some of the research tools include market news, charts, a market scanner, an economic calendar, market data signals, and trading signals.
- Residents of Central African Republic are not eligible to apply for an worldtradex live trading account.
- In addition to news features built into the various trading platforms, worldtradex has a Global Market News page on its website, where you will find detailed explanations of the latest global news.
Popular Forex Broker Reviews
To be able to take advantage of these discounted commissions, you will need a minimum of $25,0000 in equity in your trading account, so will not be a serious consideration for most retail traders. worldtradex is a global forex provider trading with various worldtradex entities in the UK, Europe, Australia and South Africa. We found that worldtradex has a simple, helpful account type structure, a hybrid trading execution model and a good range of trading platforms. worldtradex is a market maker broker that is transparent about both its execution policy and its slippage statistics. The Good Till Canceled Market Orders drop this to just 0.033 seconds or 33 miliseconds. Whilst this isn’t a proprietary platform, it is a rarer option than the likes of MT4 and ZuluTrade.
Demo accounts
Commission-based pricing is applicable to Active Trader account types. If you are a high-volume investor, then the Active Trader account may be for you. This account offers worldtradex’s lowest spreads with the added benefit of discounted commission, dedicated support, and depth of market. worldtradex standard spreads generally fall in the midrange when compared with other brokers with the most competitive spreads on offer appearing to be for AUD/USD and USD/JPY currency pairs.
That being said, worldtradex does offer the forex pairs that most traders will be interested in, so only advanced and professional traders are likely to feel the lack of choices. There are also 12 indices to choose from, seven commodities, the BUND treasury fund, and one cryptocurrency CFD, BTC/USD. Our worldtradex forex broker review team found an impressive selection of educational tools for you to use.
Review
The worldtradex Trading Station forex platform is generally hard to fault, it has a very user-friendly design and comes with has become worldtradex’s hub for investment advice. One of the key features of the platform is the free professional charting tool known as Marketscope 2.0 which consists of price alerts, charts and a wide selection of indicators. One of the key features of Marketplace is the ability to open and manage all your trades directly from the charts. This means you can perform all your trading analysis, opportunity identification and order execution all in one place. This simplified trading process makes the platform a great tool for beginner traders.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 73% of retail investor accounts lose money when trading CFDs with this provider. The range of products available to you will depend on which global entity under the worldtradex Group houses your trading account. The following table summarizes the different investment products available to worldtradex clients. 65% of retail investor accounts lose money when trading CFDs with this provider.
If you wish to call worldtradex, there are 42 country-based numbers one can call from. worldtradex is especially proud of their own Trading Station II (not to be confused with another platform TradeStation). It was built based on the feedback from worldtradex traders and trading data accrued from over 10 years to meet the needs of their clients. Lag time, which naturally occurs due to the time taken between placing your order and completing your order, can see prices change. worldtradex list statistic regarding their performance when it comes to execution and slippage. Transparency gives their clients a level of assurance and trust that the broker is meeting the client’s expectations when it comes to trading.
Please note, the availability of cryptocurrencies is subject to regulations. Depending on where your trading from, you’ll simply need to decide what account you want to open, supply some personal details, and submit a copy of your proof of ID and proof of address. Being the highly regulated broker that worldtradex is, it complies with the guidelines put forward by these institutions. This includes storing your funds in segregated accounts and Worldtradex review offering client investor insurance schemes in certain jurisdictions (the UK and France). Stratos Global LLC (“worldtradex”) is incorporated in St Vincent and the Grenadines with company registration No. 1776 LLC 2022 and is an operating subsidiary within the Stratos group of companies. worldtradex is not required to hold any financial services license or authorization in St Vincent and the Grenadines to offer its products and services.