In addition, worldtradex is tightly regulated by top-tier financial institutions. Simply put, the worldtradex demo account offers traders to practice trading in a risk-free environment. Our worldtradex review found the forex broker offers one of the extensive choices of trading platforms from all online brokers. Not only does worldtradex offers a choice of 4 trading platforms (2 of them the best social trading platforms) the broker also offers 7 speciality platforms. Our review of worldtradex found that the company offers a straightforward account structure, average spreads, a combination trading execution model, and a good selection of trading platforms.
MetaTrader 4’s reputation and reliability make it a sound choice for all traders. Quality education is a standing pillar for each successful trader. worldtradex provides tools for beginner and professional traders for market analysis. As a trader, you get access to an economic calendar, earnings calendar, market news, live Forex charts, and market data signals. Additionally, there are easy-to-understand guides for novice traders available on the broker’s web page. Overall, trading with worldtradex involves fees from $50 USD, spreads from 0.2 pips to 1.3 pips, and commissions depending on the account type selected.
- In regards to withdrawals, withdrawal requests are submitted online.
- While you can find platforms with more indicators, more charts, faster speed, as a whole, MetaTrader 4 offers one of the most complete packages because it does everything really well.
- Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs.
- 39 currency pairs, for example, would put worldtradex at the lower end of the broker for currency choices.
Remember to stay informed, adapt to market changes, and continually educate yourself to optimize your trading performance and increase your trading profits. Yes, accounts with no trading activity for 12 consecutive months may be subject to a $50 inactivity fee. Floor-level pricing, with competitive spreads starting from 0.2 pips on major pairs like EUR/USD, USD/JPY, and more. Lag time, which naturally occurs due to the time taken between placing your order and completing your order, can see prices change. The Active Trader account uses a tiered commission structure which means the more you trade, the lower your commission cost will be.
Standard Account Fees
- Most deposit methods take up to 1 business day to complete however bank wire can take 1-5 working days.
- worldtradex has a knowledge section that consists of research or market analysis tools and education.
- Instead of charging swaps for keeping positions open overnight, worldtradex increases spread markups and adds commission fees.
- Or you can use your phone to take a digital picture of the documents.
The number of assets offered is not that impressive compared to the industry leaders and the live account types available are limited to 1. There are 1.3 pips average spreads on EUR/USD, and commissions are not charged for trading. Traders who deposit into an incorrect bank account will pay an administration fee of 50 units of the account base Worldtradex official site currency or JPY 5,000. worldtradex refers to any bank account of another worldtradex client or a non-segregated worldtradex bank account while the client remains designated as a trader with a segregated bank account.
Stop payment fees on withdrawals via cheques cost between 10 and 35 currency units, dependent on the withdrawal currency. Swap rates are the most ignored trading costs, which may become the most significant fee per trade, dependent on the strategy. Swap rates apply on leveraged overnight positions, which triple on Wednesday to account for trades kept open over the weekend. Inactivity fees of $50 per year are charged for one year of inactivity.
The next step is to verify your account by providing documents that verify your identity. You can upload a scanned copy of your government-issued passport, ID, or driving license. Or you can use your phone to take a digital picture of the documents. Just make sure that the photos are of high quality with no light reflections and shadows.
Best Forex Brokers with Islamic Accounts in Croatia
The high trust regulators have strict requirements for acquiring their licenses. worldtradex is not required to hold any financial services license or authorization in St Vincent and the Grenadines to offer its products and services. Active Trader accounts enjoy discounted commission rates, starting from $0.0025 per 1K lot traded. When I opened my account with worldtradex, I thought I had a good grasp of their fees. But, as I delved deeper into trading, I discovered that there’s more to it than meets the eye. FOREX.com is authorised and regulated by the Monetary Authority of Singapore (MAS), ensuring compliance with Singapore’s financial standards.
Mobile trading apps at worldtradex
In addition, there’s no commission charged and no deposit/withdrawal fees. On the downside, there is a 50-unit base currency inactivity fee charged per year after 12 months of inactivity. Keep in mind that worldtradex is a group of companies operating globally. In case you are opening an account from Australia, your account will be subject to ASIC regulations. If you’re opening your trading account from the UK, the worldtradex account will be under the supervision of the FCA of the United Kingdom. As a result, the leverage offered, account base currency, and available asset types may differ from country to country.
Experienced Australian forex traders that require a very specific niche forex platform should consider worldtradex. Those that require high leverage or are looking for low spreads/fees should review our Best Forex Brokers In Australia and a provider like Pepperstone for advanced traders. The range of markets available with worldtradex is quite broad however you can find other brokers that offer more choices for each financial instrument.
Islamic account
Spreads with worldtradex’s active trader account are cheaper than they may appear when you compare with other brokers as worldtradex offer lower commission fees. The overall lowest spreads are offered by IC Markets in our head-to-head comparison. On the upside, the broker offers various trading platforms, good customer support, and various trading tools.
39 currency pairs, for example, would put worldtradex at the lower end of the broker for currency choices. New traders may appreciate a standard style account, as no commissions mean a simpler cost structure. Long-term or discretionary traders may also like this account as the simpler cost structure compared to a commission account can make trading easier.
worldtradex charges markups on raw market spreads, swap rates on leveraged overnight positions, and currency conversions where applicable. But when I started trading with worldtradex, I quickly realized that understanding their fee structure was crucial to my success. In this article, I’ll share my personal experience with worldtradex trading fees, the surprises I encountered, and the lessons I learned along the way. The account has a minimum spread of 3 pips, and traders may incur rollover fees.
worldtradex clients will have access to the client service portal through their live trading account credentials. worldtradex offers a range of secure funding options including Credit/Debit Cards, Bank Wire transfers plus Skrill, and Neteller. In regards to withdrawals, withdrawal requests are submitted online. A withdrawal request can be submitted online by selecting your withdrawal method and clicking “Submit”. worldtradex is a well-established broker that offers trading facilities on shares, stock indices, forex, commodities, and cryptos to a global market. worldtradex has offices in multiple global locations, including Berlin and Sydney.
Their global reach and regulation provide a high level of safety and security for traders. Please note that due to FCA regulation, UK retail traders are not able to trade cryptocurrencies with UK brokers. If you want access to crypto markets, you will need to sign up for an worldtradex subsidiary outside of the United Kingdom. worldtradex list statistic regarding their performance when it comes to execution and slippage.