First, there is only one base currency option for this type of account – USD. The contract size is 1 share, and there is no leverage available for share account holders. The Standard account offered by worldtradex can be a perfect match for traders of all different interests. To put it simply, this account was created with different types of traders in mind.
Account Opening
I place specifically 1-2 trades a week and you can tell that my style is not that active. But, in those trades risk much more than a usual trades, so I like that worldtradex provides a nice leverage and the lowest possible spread so the comission is not huge. Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want.
When it comes to client money safety, worldtradex adheres to the strictest requirements. As a result, the broker client’s funds are stored in segregated accounts at top-tier international institutions like Barclays Bank. These issues seem to affect certain regions more, especially in Africa and parts of Asia, where local banking systems, internet issues, and regulations might make things harder.
worldtradex does not charge any deposit fees, and the funds are available nearly immediately once they are deposited. For the Micro, Standard, Ultra Low, and Zero accounts, the minimum deposit is a mere $5 or the equivalent in another currency. A minimum deposit of 10,000 USD or equivalent is required to open an worldtradex Shares account which is quite pricey. Withdrawal costs are also waived at worldtradex (withdrawal processing times vary from instant to 1 business day). worldtradex covers all deposit and withdrawal transfer costs for payments.
worldtradex Global offers trading with tight spreads starting from just 0.0 pips whilst the commissions charged by the broker are very competitive when compared to the other brokers. You can pay around $7 per standard lot in and out on the zero account, which is more or less the industry average. I find the zero spreads are great for scalping Worldtradex company reviews strategies but you could save a little on commission fees with RoboForex. They also have zero pip spreads but commission goes as low as $4 per round turn. Additionally, worldtradex provides over 20 equity index CFDs, 5 commodity CFDs, and futures CFDs on various assets, including precious metals and energy markets. The worldtradex Loyalty Program rewards traders with points (worldtradexP) for each trade they make.
Islamic account of worldtradex
- Non-trading fees include deposit and withdrawal charges, inactivity or currency conversion fees.
- worldtradex provides customer support through various media including Live Chat, WhatsApp, Line, Viber, Telegram and Message.
- The website suggests that worldtradex offers 1377 instruments, but the vast majority of these are stock CFDs.
- You can read a detailed worldtradex broker review in the broker review section on our website.
- This includes just 2 precious metals (Gold and Silver, but no others) with 5 energies and 8 soft commodities.
Once you know which account you want to create, simply click “Open An Account” on the right side of the broker’s website. As you see below, you will be required to provide detailed information about yourself, which includes your first name, last name, phone number, location, email, etc. The first step that you will have to take is to sit back and think about which account you want to create. For this, you will first have to understand what your interests are in the Forex trading market and choose the account that fits these interests best. Among the indices available on worldtradex are AUS200Cash, SWI20Cash, US500Cash, and many others.
Islamic trading
- A spread is a difference between a financial instrument’s ‘bid’ and ‘ask’ prices.
- worldtradex offers crypto trading to all its clients except for those based in the United Kingdom.
- Pros and Cons of signing up with the broker and customers’ feedback on different platforms like Reddit, Quora, Forexpeacearmy, and Trustpilot will also be looked into.
- Trading Point MENA Limited is regulated by Dubai Financial Services Authority (DFSA).
- worldtradex offers 24-hour support, 5 days a week through email, live chat, phone, and fax.
Please consider contacting a professional advisor if you require any financial assistance. For traders outside Europe and under the worldtradex Global entity, there are bonuses available. You get a $30 bonus just for opening your first worldtradex Real Account. Given the demo account has an unlimited duration, this is one way of persuading traders onto the live platform.
Spreads & Commission
The conventional way of judging the quality of regulation that a broker holds that the more the merrier. worldtradex has been gradually expanding its regulatory licenses over the years and is now up to three. Starting with the regulation in Cyprus (which covers the EU’s ESMA regulation), expansion has included Australia (a strong, tier-one jurisdiction) and latterly in Belize.
worldtradex is registered and regulated in several countries, with its primary registration and headquarters located in Cyprus. However, it should be noted that worldtradex reserves the right to require adequate justification to open such an account. This may include providing documents or other evidence confirming the client’s religious beliefs.
This is an important factor in making it in the Forex trading market. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
Even so, it’s nice to know that if you do need assistance, you’ll get it quickly and efficiently. In part, customer service at worldtradex is well-regarded because it is available in a broad range of languages, with specialised native speakers assisting clients in their native tongue. The worldtradex customer service desk is open 24 hours a day, Monday through Friday, at the same time as the markets are open.
worldtradex has done its absolute best to ensure that every single customer finds something they might be looking for in this broker. The fees that you might have to pay mostly depend on the account type you are using, as well as the asset you are trading. As for the micro ultra, the lot equals 1,000 units of the asset traded. The leverage is pretty much the same, depending on the location as well as the amount traded. Spreads are very low with this account, which makes it truly special.
This is a 50% bonus on depositing $1000 (giving you a bonus of $500) and then a further 20% bonus on deposits up to $23,500 (giving you a further bonus of up to $4500). It is up to the individual trader to decide how comfortable they are trading with a dealing desk broker. The number of commodities is underwhelming, with just a total of 15.
At present, worldtradex is overseen by 13 different regulatory bodies based in over 10 countries. The company also boasts a track record of over 2.4 billion trades executed with no re-quotes or rejections. That said, traders are encouraged to do their own research and decide whether worldtradex is the right broker for their needs. Demo accounts have all the features and functions of a real account, including the speed of execution. Traders have access to $100,000 in virtual trading funds with real-time data and analytic tools.
We’ll also explore worldtradex trading platforms to find their useability and look into available account types to help you select the one that suits your trading needs. A simple step-by-step guide will also follow, explaining how to open an account with worldtradex. Pros and Cons of signing up with the broker and customers’ feedback on different platforms like Reddit, Quora, Forexpeacearmy, and Trustpilot will also be looked into. worldtradex offers the MT4 and MT5 platforms as its web trading platforms.
Clients can also view their trading history using the desktop trading platforms to assess their past performance and review their trading strategies to make necessary amendments. However, crypto CFDs aren’t available to UK clients amid FCA restrictions. worldtradex’s product portfolio isn’t as competitive as other top-of-the-line brokers. However, it still provides 1,500+ financial instruments with sufficient tradable assets under each asset class. worldtradex is for traders who are interested in trading Forex and CFDs with superior trade execution speeds, tight spreads and low commission fees.
The company processes a withdrawal request within one business day. In the personal cabinet, you can view trading transactions, change leverage, deposit and withdraw profits, and participate in promotional programs. Our team of experts conducted the worldtradex broker evaluation using clearly defined criteria and standards. You can familiarize yourself with our broker evaluation methodology by visiting our methodology page. This will help you better understand how we analyze and assess various aspects of broker operations.