There main objective is to empower clients with all the tools they require, to develop their skills, whilst enjoying an unrivalled trading experience, during every step of their journey. worldtradex, established in 2010, prides itself on being a pioneer in Electronic Communication Network (ECN) forex trading. Headquartered in Cyprus, it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers access to a diverse range of financial instruments through its award-winning trading platforms. worldtradex welcomes traders from a wide range of countries across the globe, offering its services to a diverse international client base. However, certain regions may face restrictions due to regulatory requirements or local laws. Traders are advised to visit the worldtradex website to verify whether their country is eligible for trading on the platform.
- Major currency pairs, such as EUR/USD and GBP/USD, typically enjoy tighter spreads, especially on Premium and VIP accounts.
- A responsive and knowledgeable customer support team is a hallmark of worldtradex.
- worldtradex does not require a minimum deposit amount in order to open a live trading account, with the recommended amount set at $500 USD.
- The broker’s objective is to offer attractive spreads across all account types, ensuring traders can benefit from cost-effective trading regardless of their account tier.
worldtradex operates on a hybrid STP/ECN model, whereby client orders are either routed to the broker’s pool of liquidity providers or matched electronically using electronic communications networks. 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. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. All content on this site is for informational purposes only and does not constitute financial advice.
All the features of the broker are…
A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. ECN XL and ECN Standard Account owners have access to 30 trading instruments. Clients with ECN Advanced Account (min. deposit $100.000+) can trade over 200 assets. worldtradex offers one of the best trading platforms in MetaTrader 4 (MT4) for desktop, mobile devices and directly through your web browsers.
The pricing on the assets and execution are very appealing.But for other types of traders this broker wouldn’t be so beneficial. Mostly because limited asset classes and no opportunity to eliminate the swaps rather than islamic accounts. There is a significant risk involved with the trading of financial instruments.
Order execution
I especially appreciated the attention paid to adopting an appropriate trading mentality, which is of utmost importance for long-term success. worldtradex incorporates MetaTrader 4 and MetaTrader 5 for desktop, web, and mobile trading. The two platforms are the most popular among retail traders and have high functionality. worldtradex also provides free Virtual Private Server (VPS) hosting for low-latency trading.
The worldtradex Ecn xl account is a finding…
worldtradex hosts seasonal promotions that coincide with major holidays, trading events, and market milestones. These promotions may include holiday bonuses, trading contests, and cashback rewards, providing traders with opportunities to earn extra rewards based on their trading activity during specific periods. Seasonal promotions are time-limited, encouraging traders to engage actively and take advantage of the enhanced offers. To ensure we offer traders accurate and current information, our forex broker reviews also undergo rigorous editing and fact-checking. I am happy with the selection of fee-free funding methods accepted by worldtradex, which supports Visa/Mastercard, bank wire transfers, cryptocurrency and four e-wallets – Skrill, Neteller, EeziePay and AWEpay. This makes it easy for global traders to get started with the forex broker.
How to Open an worldtradex Account – A Step by Step Guide
Legal documents are also readily available and written in straightforward, easy-to-understand language. The MT5 platform features a massive range of 21 timeframes and also supports one-click trading and DoM trading, making it a suitable choice for scalpers. Additionally, worldtradex provides free VPS hosting for low-latency trading and achieving average order execution speeds of below 10 milliseconds. worldtradex’s ECN XL account combines commission-free trading and raw spreads from 0.0 pips, offering extremely favorable conditions in some cases.
One of these platforms’ biggest advantages are their support for automated trading via Expert Advisors (EAs), which have long been favored by algorithmic traders https://lunarcapital.live/ and which we feel are yet to be surpassed. Still, worldtradex has done well by providing an attractive, affordable and simple account option for day traders who will appreciate having no trading restrictions or minimum deposit requirements. With fast processing times and no deposit fees, worldtradex makes it easy for traders to manage their funds efficiently. I can trust it with clear regulattion, and the fact that worldtradex has many awards for services. True STP execution of the broker is the one that I needed to realize my new trading strategy. Because sometimes brokers claim that they have direct execution, but in reality they don’t.This company’s business model is built on the NDD execution so I am very confident in it.
- The service is available for free to accounts with a funded and maintained balance of at least $2,500 that also achieve a monthly traded volume of at least 30 lots.
- Broken down by asset class and compared to the industry average, worldtradex offers extremely low forex and indices spreads.
- This includes pros, cons and an overall rating based on our findings.
- Mostly because limited asset classes and no opportunity to eliminate the swaps rather than islamic accounts.
- Where every review is more than just words – it’s a trader’s compass.
- worldtradex offers dedicated email support to address any queries or issues traders might encounter.
worldtradex’s ECN XL account is a nice touch—it mixes raw spreads with zero commissions, giving traders a solid pricing edge. worldtradex is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs. 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. On the downside, worldtradex supports accounts in just a few currencies (USD, EUR, GBP), with USD only for wire transfers. As a comparison, Fusion Markets offers 10 deposit currencies, which can help prevent the need for often costly conversions.
There is no minimum deposit requirement, and traders can convert their accounts into Islamic accounts for swap-free trading. worldtradex offers reliable customer support to assist traders with any questions or issues they may encounter. The broker provides live chat and email support, ensuring that help is readily available. Customer service operates 24 hours a day, Monday through Friday, allowing traders to access assistance during market hours.
Customer Service:
I like worldtradex’s floating spread pricing model, which rivals the cheapest zero-commission brokers that I have reviewed. Tight spreads increase the viability of short-term trading strategies, while the no-commission model makes trading with worldtradex simple for beginners. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. Essentially, the broker lends the trader money so that they can open bigger positions. Leverage multiplies the profits a trader generates from winning positions, but also the losses incurred from failed trades. Since my last review of worldtradex almost a year ago, I would have expected the broker to expand its tradable instruments offering, but it still has the same limited number of assets.
Whether your new or an experienced trader, a risk-free demo account is a great way to experience the benefits of ECN trading with worldtradex. You can practice your forex trading skills or test new strategies without making a financial commitment. The broker also provides you with copy trading via Multi-Account Management (MAM). Copy trading is helpful for you if you don’t want to scan the markets for trades yourself because you don’t have the time or knowledge to do so. Instead, you can select a professional trader with a solid track record and start copying trades in return for a small commission to the manager. As mentioned above, about 30 currency pairs are available on Standard and XL accounts, and around 70 – on Advanced Account.
