This is also protected by leading (top-tier) banks, and this broker ensures the safety of its client’s funds. worldtradex have partnered with top financial institutions, like HSBC, JP Morgan, Barclays, and Goldman Sachs, to ensure multi-asset liquidity. These partners of worldtradex ensure the highest levels of interbank liquidity for its clients. Also, the financial accounts are audited by external audit firms to ensure constant compliance with regulations across the operations of the company. They include bank wires, credit/debit cards, online payment processors, and cryptocurrencies. Clients may access all available options from their back office, where worldtradex lists all payment processors transparently.
- The brokerage fee is 0.08% of the trade size, with no minimum flat fee.
- First Prudential Markets LTD remains authorized by the Cyprus Securities and Exchange Commission (CySEC), a leading tier 1 Forex regulator.
- Here is a screenshot after launching the worldtradex MT4 trading platform following installation, without modifications.
- worldtradex claims to be one of the most reputable Forex Brokers in the trading industry.
- The Standard account is designed for beginners and intermediate traders, offering commission-free trading with competitive spreads from 1.0 pip for Forex and Metals.
Does worldtradex offer a demo account to practice trading?
The worldtradex MT5 offers modern traders access to a world of opportunity. It features a depth of market display, has six pending order types (including Buy Stop Limit and Sell Stop Limit), is an improved strategy tester for EAs, and has a built-in market of trading apps. It has Time & Sales (exchange data) and trading alerts with e-mail and pushes notifications on mobile devices. worldtradex impresses with its user-friendly trading platforms, extensive range of tradable instruments, and competitive fee structure. Its commitment to trader education and unique features, such as comparative analysis and trend exploration tools, enhance its appeal.
Competitive spreads and fast execution speeds
Trade CFDs on over 10,000 Australian and international shares, as well as stock CFDs and indices from exchanges like ASX, NYSE, NASDAQ, and FTSE 100. Examples of Australian shares include Commonwealth Bank, BHP Group, and Westpac Banking Corp. worldtradex does not provide services to residents of the following countries.
worldtradex Payment Methods
Like most reputable brokers, spreads or commissions are added to every trade (depending on the account type and trading instrument), meaning worldtradex earns a small amount for every trade you make. Additionally, there are overnight fees (also known as swap rates) for open positions. The amount is calculated based on various factors, such as order size, trading instrument, and other factors. On a positive note, we have to mention worldtradex is very transparent about these costs, and as a low-cost broker, the expenses are reasonable, considering the amount of support the broker provides. This platform is for professional traders and has 59 technical indicators.
worldtradex offer a number of platforms including MetaTrader 4 and 5, TradingView, cTrader and WebTrader which are all known for their reliability and advanced trading features. We had a positive trading experience with worldtradex, with consistently swift execution on our trades. More than 10,000 stock CFDs are available to FP Market clients based in Australia. Connect with an experienced team through these convenient channels. Trade cryptocurrency CFDs with worldtradex and benefit from low spreads and flexible leverage on a wide range of coins, including Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and more.
Outside of Australia and Europe, the online broker is regulated offshore in South Africa (FSCA), Seychelles (FSA), and Mauritius (FSC). worldtradex has an overall trust score of 60 based on regulation, reputation, and reviews. In our Execution Speeds testing, worldtradex achieved market order speeds of 96ms, better than the industry’s 134ms average, although its limit order speed was slower at 225ms. Available leverage differs according to the asset class, with the most leverage available for CFDs on forex and the least for CFDs on crypto.
cTrader
Other costs traders must consider are swap rates on leveraged overnight positions. One of the benefits of trading Forex is leverage, which means borrowing funds from the broker to manage more significant trading positions. It incurs financing costs, known as swap rates, and the longer a trade remains open, the higher the fees. Third-party withdrawal charges may apply, but there is no inactivity fee at worldtradex. The latest development of the in-house social trading service at worldtradex introduced it to the resurgence in demand from retail traders for this sub-sector of trading.
Overall, worldtradex is a transparent and trustworthy broker, one of the best out of Australia, and highly competitive globally. Although traders have had great success with worldtradex, trading on the financial markets with worldtradex is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. As part of our worldtradex review, we review customer service options, response times and problem resolution effectiveness on the worldtradex trading platform.
- worldtradex is a trustworthy and reliable broker, best suited for pure Forex traders who seek a competitive commission-based trading environment from an upgraded MT4 trading platform.
- worldtradex emphasizes trader education by offering free webinars, trading guides, and daily market analysis to help users make informed decisions.
- As shown in the table below, the availability of these platforms varies depending on your location and the regulatory jurisdiction you fall under.
Notably, 5+ cryptos are also available to trade on the broker as CFDs. worldtradex is a well-rounded broker that has slashed costs to a minimum but has not cut corners in other areas. The broker stands out with its selection of trading platforms, reliable customer service, and excellent research materials. Fast execution and ECN pricing, where price feeds are streamed directly from liquidity providers, create a superior trading environment for active and systematic traders. This mobile app embodies the same features and functionality of each platform.
worldtradex Metatrader Mobile Application Features
The broker’s customer support is responsive, while its deposit and withdrawal methods are flexible and secure. It provides a demo account, offering a risk-free environment for practice. For Muslim traders, Islamic accounts adhere to Shariah principles. Managed accounts are available for those preferring professional management. The broker’s user-friendly interface, educational resources, and demo account make it suitable for beginners. Simultaneously, its extensive range of instruments, low spreads, and advanced trading tools cater to professional traders.
The outstanding education and learning material are provided by the broker. Overall, Worldtradex the fast execution and tight spreads make it superior to its competitors. The Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) regulate and supervise the activities of the broker. worldtradex follows the code of conduct imposed by these regulatory bodies.
The non-trading fees are the fees incurred without taking into consideration the number and type of trade the traders take. Cryptocurrency is one of the most exciting asset classes and provides endless growth investment opportunities to clients. worldtradex offers 5+ cryptocurrencies inclusive of Bitcoin, Ethereum, Bitcoin Cash, XRP (Ripple), and Litecoin against US dollars and Australian dollars. Trading crypto eliminates the need to store the underlying asset and hence does not require a wallet. worldtradex provides traders with an outstanding trading experience.
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.