The most notable is its ECN XL account, which provides spreads starting from 0 with no trading commission, a rarity in the industry. This low-cost trading environment is particularly appealing to traders looking to minimize expenses on high-frequency trades. worldtradex offers a single yet versatile account type – the ECN XL account, designed to cater to both beginners and professionals. This account features spreads starting from 0 with no trading commissions, providing a cost-effective trading environment. One of the standout benefits of worldtradex is the absence of a minimum deposit requirement, allowing traders to start with any amount that suits their needs.
Although some brokers like Vantage offer a similar service with less stringent qualifying criteria, worldtradex’s VPS, combined with its excellent pricing, will appeal to high-volume traders and algo traders. However, not all currency pairs are as generously priced – GBP/USD trades with a 1-pip spread, which is more expensive than the average of around 0.3 pips at Fusion Markets, for example. worldtradex’s investment offering is excellent for forex traders but weak in other departments. worldtradex runs bonus offers in certain jurisdictions, and when I opened an account with the global entity I was offered a 100% deposit bonus up to $2000. worldtradex lists 71 currency pairs, 12 cryptocurrency pairs, 12 indices, spot metals and commodities, like WTI and Brent.
- worldtradex offers a comprehensive range of tradable instruments, including major and minor currency pairs, commodities, indices, and metals.
- Did some research before signing up and they are here for like 15 years, this was what sealed the deal for me, was looking for a broker tested by time.
- When you trade Forex, CFDs or other financial instruments you are exposed to a high risk of loss.
- However, no investor compensation fund available in the Comoros should worldtradex, or one of its counterparties, become insolvent.
- The sign-up process is also pleasingly simple and there is a swap-free solution for Muslim traders available upon request.
“Solid choice for scaplers, but not only…”
worldtradex brand is an international brand that is registered and regulated in various jurisdictions and is committed to offering you the best possible trading experience. MetaTrader 4 includes trade alerts, a handy tool to help you track the most favourable trading environment and market conditions. worldtradex’s ‘No Dealing Desk’ execution model comes with no dealer intervention and no re-quotes. Client trades are made on prices provided to worldtradex by its liquidity providers. Customer support is available 24/5 via e-mail, webform, phone, fax, and live chat. The FAQ section answers many of the most common questions, https://worldtradex.world/ and worldtradex is transparent about its products and services.
Most traders are unlikely to require additional assistance unless of an emergency. As I already mentioned, I haven’t experienced any problems while trading with worldtradex. This is an ECN broker, and the only account available has certain advantages. Mainly in terms of cost effectiveness – the spreads are raw and tight and the usual ecn account fee for opening and closing positions is eliminated. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.
Platforms & Tools
This compensation should not be seen as an endorsement or recommendation, nor shall it bias our broker reviews. Any rates, terms, products and services on third-party websites are subject to change without notice. Once these steps are completed, traders can access their account and begin trading immediately. worldtradex applies a spread-based fee for forex trades, with no additional forex-specific charges. It is safe and has the necessary security tools in place, and also has a lot of good trading conditions. However, the selection falls short of the comprehensive educational offering available from best-in-class brokers like eToro, limiting the brokerage’s appeal to beginners.
worldtradex utilizes two-factor authentication (2FA) to prevent fraud and secure accounts, adding an essential layer of protection for all users. Furthermore, the broker ensures that client funds are stored in Tier 1 banks, safeguarding these assets from potential risks. This commitment to security helps to instill confidence in traders who seek reliability and transparency. At the same time, both platforms are remarkably user-friendly, making them accessible even to relatively new and inexperienced traders. The company is comprised of a dedicated team of professionals with extensive experience in the financial industry. The service provider is BeeksFX, but worldtradex clients must have a minimum account balance of $2,500 and a monthly trading volume of 30 standard lots.
- The ECN/STP model gives worldtradex clients the freedom to trade on a more level playing field.
- Our platform provides comprehensive insights into the performance, features, and reliability of different forex brokers.
- If you like having a lot of customization and multiple account/platform option, then maybe it’s not for you.
Regulated, Transparent and Fair Trading
worldtradex also maintains a presence in Cyprus for EU-based clients under the uncompetitive ESMA regulatory framework. New traders have access to fourteen quality educational posts plus a dedicated section on major economic reports. Eleven eBooks complete the education at worldtradex, and the overall product remains impressive. Five MT4 user guides and a Forex glossary section are also available. worldtradex offers beginner traders a sound educational offering from where traders can expand.
Is worldtradex A Good Broker For Day Trading?
worldtradex is an ECN broker and only maintains one ECN account for all clients. It is unique as traders get a commission-free cost structure with raw spreads, an unusual offer, presenting Forex traders with a notable edge. The overall trading environment at worldtradex features a low cost structure and competitive asset selection, . worldtradex lacks more trading tools, like CFDs on stocks for Worldtradex reviews example, which became so popular recent days. One operates out of Vanuatu, where international clients have a trustworthy and competitive trading environment.
Platform that was suitable for my trading that has irreplaceable features. Works for 15 years, has STP/ecn execution, not MM (to my knowledge), proper modern mt5 platform. I appreciate how easy it is to trade on the platform and how stress free I am able to navigate and not feel worn out. This structure minimizes conflicts of interest, as worldtradex does not trade against its clients.
Generally speaking, my cooperation with the worldtradex broker is going pretty well and I didn’t expect to be so impressed with the quality of their trading conditions on the ECN XL account. But pros are probably more prevelant if you ask me and are mostly centered around costs than anything else. If you like having a lot of customization and multiple account/platform option, then maybe it’s not for you. The Investing Brokers team have over 15 years of experience in the online brokerage industry and are committed to providing reliable information for all of the brokers that we review. worldtradex offers a variety of convenient deposit and withdrawal methods to accommodate traders’ needs. worldtradex does not impose any minimum deposit requirements, allowing traders to begin with as little or as much as they are comfortable with.
Inactivity Fee
We provide objective and unbiased reviews, analysis and commentary. We verify some of our data for quality control but there are slight variations occasionally. Any and all partnerships with industry regulars are not and should not, be viewed as an endorsement or recommendations by topfxbrokersreview.com, even though we may be sponsored by some of the brokers. We are not liable for losses that resulting from the information provided on our site. worldtradex offers traders a transparent fee structure with no trading commissions under its ECN XL account, relying solely on competitive spreads. The broker focuses on keeping costs low, making it a popular choice among cost-conscious traders.
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.
I rank trading costs among the most defining aspects when evaluating an exchange, as they directly impact profitability. worldtradex offers traders a competitive commission-free trading environment. The EUR/USD spread ranges between 0.0 pips and 0.3 pips, with occasional spikes during the market news and trading session breaks, which worldtradex transparently displays on its website.