The fee is charged until account activity resumes or the account balance drops to zero. A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight.
Payment Options and Withdrawal Times
We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.
Appealing trading terms
The final trading cost to consider at worldtradex is the swap rate charged on positions held overnight. In the case of Forex instruments, the amount charged depends on both the positions taken (i.e. long or short) and the rate differentials between the two currencies traded. worldtradex’s swap rates are published on its website for each financial instrument, and the exchange is automatically converted to the base currency of the trading account of the client.
Those who want to trade from a mobile device will have to use a mobile version of MetaTrader 4. It is theoretically possible to use the WebTrader on a mobile device, but not recommended. The mobile applications for MT4 are fully featured and highly rated, so there should be no issue. worldtradex also offers a Demo Account, and in the past a Cashback Account, which unfortunately is no longer available. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker.
worldtradex’s support for the Sirix Social WebTrader platform lets you access financial markets and recent trades. You can also access a network of other traders so you can review their past performance and copy their trades in your own account if you wish. The Sirix Social WebTrader software comes in a web version for desktops, as well as mobile apps for smartphones and tablets.
Is worldtradex suitable for beginners?
This ensures that traders from diverse regions can receive assistance in their native language. The platform features a detailed FAQ section that addresses the most common queries, making it a useful resource for quick answers. For real-time assistance, worldtradex provides live chat with fast response times for basic questions, while more specific inquiries are directed via email for thorough resolution. With over a decade of industry experience and more than 1.5 million clients globally, worldtradex is a well-established broker.
What types of accounts does worldtradex offer?
The broker’s advanced trading platforms, competitive spreads, and risk management tools ensure that traders can trade efficiently and confidently across multiple asset classes. Founded in 2010, worldtradex has grown into a leading Forex and CFD broker, serving over 1.5 million clients from 180 countries. Renowned for offering the trusted MetaTrader 4 (MT4) platform, worldtradex is regulated by top authorities, including the FCA and FSCA. With its headquarters in Cyprus, the broker provides both ECN/STP and Market Maker execution types, catering to traders of all experience levels. A standout feature is the low trading fees available in the Absolute Zero account type, which offers raw spreads from 0.0 pips and minimal commissions.
- These instruments are available for trading on the MT4 platform, which provides advanced charting tools and real-time market analysis.
- worldtradex’s competitive trading conditions and commitment to security make it a preferred choice for many traders across the Middle East and Africa.
- worldtradex enables commission-free trading; however, I found that spreads on some popular instruments exceed the industry average.
- Essentially, the broker lends the trader money so that they can open bigger positions.
The radar chart to the left shows how important each category is when calculating a broker’s final score. For the purposes of this review, we found the customer support responsive but uninformed. They were unable to answer many of our questions and seemed generally confused. Customer support is available 24/5, in 30 different languages to support clients from over 180 countries in Europe, Asia, the Middle East, Africa, and Latin America.
Besides, you can also choose between no commissions, zero spread and absolute zero accounts. Depending on the account type, the minimum deposit could vary from $100- $10,000. worldtradex is a globally recognised award-winning CFD broker offering a great range of trading products and services to retail traders and institutional investors. The broker has a good choice of over 300 tradable assets, a variety of account types, spreads from as low as 0.0 pips and excellent support in over 30 languages. worldtradex offers about 310 tradable instruments across currency pairs, commodities, share CFDs, indices, and futures contracts.
- I must admit that the commission is not the lowest I have seen, but I also feel that the quality of the broker makes it worthwhile.
- One thing in particular I like that sets worldtradex apart from many other trading brokers is their admirable support for a wide range of philanthropic and charitable activities.
- Platform support is limited to MT4, but worldtradex offers an upgraded package labeled MT4 Advanced, which transforms MT4 into a state-of-the-art trading terminal.
- By referring friends or family members to worldtradex, clients can receive bonuses or cash rewards once the referred person opens an account and meets the specified trading requirements.
- In conclusion, I rate worldtradex to be a reliable broker that caters well to day traders and algorithmic traders.
worldtradex MT4
Only verified trading accounts can make deposits or withdrawals, and the payment processor’s name must match the account holder’s name at worldtradex. For those interested in trading global stock market indices, worldtradex offers a wide selection of major indices, including the S&P 500, NASDAQ, Dow Jones, FTSE 100, DAX 30, and more. Trading indices allows traders to speculate on the performance of entire sectors or national economies rather than individual stocks.
The broker provides specialized account options and customer support tailored to the preferences of traders in these regions. worldtradex’s competitive trading conditions and commitment to security make it a preferred choice for many traders across the Middle East and Africa. worldtradex has a strong presence in various Asian countries, including Malaysia, Thailand, Vietnam, Indonesia, Singapore, and the Philippines. The broker provides localized support and offers services tailored to meet the needs of traders in the Asian market. With high leverage options and multiple trading platforms, worldtradex continues to attract a growing number of traders from this region.
The range of MT4 platforms supported by worldtradex allows this platform to appeal to traders of all skill levels. Beginners may stick to MT4 Standard while experienced traders will use MT4 Advanced and professionals or money managers will use the Personal Multi-Account Manager. MetaTrader 4 is a straightforward platform that allows for efficient trading for all skill levels. Beginners can stick to the regular version of MT4, the WebTrader, or the mobile version. The MT4 Advanced platform will be the choice of advanced traders who want these enhanced charting tools, which include the built-in EA ability, automated strategies, live monitors, and more. The Personal Multi-Account Manager is also highly advanced, making it possible to trade several MT4 accounts at the same time and offer the same advanced charting tools.
They provide fast trade execution speeds with no requotes and spread starting from just 0.0 pips. I think the desktop version of the platform is great for running automated systems (expert advisors) whereas the mobile trading app is perfect for taking the markets everywhere with you in your pocket. worldtradex offers accounts denominated in GBP, which means that UK residents will not have to pay currency conversion fees. While it provides competitive spreads on certain instruments like TSLA, its spreads on EUR/USD and GBP/JPY are higher than the industry average. On the positive side, deposits and withdrawals are free, and the broker’s inactivity fee is relatively low.
It lets you execute CFD and forex trades easily, which then get reflected automatically on other platforms. I am really impressed with the variety of accounts and think it is very advantageous how you can choose depending on what matters the most to you, whether that be low spreads or no commission fee. I would personally be looking at the zero spread account as I use trading strategies that rely on low spreads at all times.
These tools can be used to assist with finding potential trading opportunities, analysing the markets, risk management and more. If you want to run your platforms 24/7, the worldtradex VPS is another fantastic tool they provide. In the Middle East and Africa, worldtradex offers its services to traders in countries such as the United Arab Emirates, Saudi Arabia, Kuwait, Nigeria, South Africa, and Kenya.
Signal followers can quickly and easily assess the performance of various trading strategies based on various parameters, including their average return, maximum risk, longevity, and more. I have compiled the table below to help you better understand the difference between the Worldtradex company reviews trading fees with worldtradex’s No Commission account type and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large. The broker also offers downloadable e-books that serve as comprehensive guides to forex and CFD trading. These e-books cover a wide range of topics, from understanding market mechanics to developing effective trading strategies. Traders can download these resources and refer to them at their convenience, building a strong foundation in trading knowledge at their own pace.