Additionally, Orinoco Capital (Pty) Ltd. holds a Financial Service Provider (FSP) license number from the Financial Sector Conduct Authority (FSCA) in South Africa. It is also regulated by the Financial Services Commission Mauritius (FSC) and Mwali International Services Authority (MISA) for non-EU clients. The profile for each trader was more detailed showing profit and loss, drawdown, and copy follower growth which I like to use as a leading indicator of trader performance.
Product Range
Although the minimum varies per jurisdiction, it is relatively a low sum. Coming to assets, the company offers a wide array of tradable assets, allowing clients to pick their favorites and suitable ones for trading. There is also an availability of multiple trading tools and indicators, which serves to enhance clients’ trading experience and help them trade confidently.
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- With worldtradex being an ECN broker, I found MetaTrader 5 can utilise its advanced features like depth of markets tool for you to analyse market order flow.
- Various account types on the 3 platforms have different deactivation dates as stated below.
- The only traditional method available was Mastercard (debit card) which I used to fund my account and was instantly applied to my trading account after making my deposit.
- However, the offshore entity of the broker is regulated by just a 3rd tier regulatory body.
Depending on the market’s volatility, clients can expect to pay a minimum spread of 0.6 pips on trading pairs like GBP/USD and EUR/USD. Commodities like Gold and Silver are on the other hand, tradable on spot for a minimum spread of 1.9 pips and 2.0 pips respectively. The broker’s range of forex trading products is limited to MT4, MT5, and worldtradexTrader but still provides a service to every trading style thanks to the MetaTrader options. I was surprised most by the worldtradexTrader which is limited in comparison to MetaTrader but offered a unique technical analysis service which impressed me with the expertise of the analysis. As for education, I thought worldtradex did a good job at presenting the basic concepts of forex trading through an online video course. I liked the daily webinars with professional traders that let you learn while trading in a live environment to experience how traders analyse the markets in real time.
For the EU, it is regulated by CySEC which is a Tier-1 authority and for the rest of the world you will be regulated by MAS or MISA. By being regulated across multiple jurisdictions it allows worldtradex to provide retail financial services to traders across 180 countries. With 300 markets I found worldtradex provides the major financial instruments most traders would focus on such as forex majors, gold, stocks like Tesla, or cryptocurrencies like Bitcoin. I think this is a sweet spot for the majority of traders unless you are seeking less popular markets or specific stocks to trade. The broker offers excellent deposit and withdrawal speeds that are fulfilled within the same business day during the week. This allows you to start trading faster with instant deposits and receive your funds faster through the same-day withdrawals.
That being said, there isn’t much educational content for learning how to trade or understand market dynamics. It’s worth mentioning that the broker does have a blog and a YouTube channel, yet I was still https://worldtradex.world/ left wanting more. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. worldtradexFX has provided their clients with a selection of reliable and sturdy trading platforms to choose from.
Why join a Forex broker?
The broker offers EUR/USD from 0.90 pips which is some of the tightest spreads for a Standard account I’ve tested. As an ECN (Electronic Communications Network) broker, worldtradex delivers tight spreads and fast execution speed by matching your order with the best offer from another trader on the network. This plays well into your hands as you will always receive the best available price from the network, leading to cheaper trading fees and better profit potential. The other feature I liked was that https://worldtradex.blog/ you do not pay swap fees on your CFD positions, saving you money should you keep your trades open longer than 24 hours. This makes worldtradex an attractive option for stock trading CFDs as you won’t need to worry about swap fees cancelling any day’s profits, so you can keep the positions open. Features like its trading glossary, platform tutorials, and dozens of Frequently Asked Questions (FAQs) help to flesh out worldtradex’s educational offering.
With so many distinguished awards under its belt, worldtradexFX has definitely proven its reliability as an online broker to the industry. With a fine landing page, users are allowed to edit profiles, manage account settings and process withdrawals. Offering 10+ market indices, worldtradexFx Index trading tries to set up clients for a new experience with an exposure to a broader market. Clients can maximize the opportunity stemming from an availability of popular indices, inclusive of NASDAQ, Nikkei, Euro Stoxx 50 and others.
Deposit And Withdrawal
My experience with worldtradex’s customer service was largely positive thanks to its 24/7 customer support and impressive AI live chat service. I felt that when I was passed to human agents on live chat it was hit and miss as basic questions were not answered, while other times they were. I think having worldtradex Copy is a good alternative for beginners or those who don’t want to invest their time in learning how to trade. At least this way, you can copy an experienced trader and benefit from leveraged products such as forex, crypto or commodities like gold. The worldtradexTrader has the least options for technical analysis too with 19 indicators, 11 drawing tools, and 7 timeframes.
Our broker reviews are reader supported and we may receive payment when you click on a partner site. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. We are constantly improving our product to make your trading experience better.
Account Base Currencies
It’s good to see worldtradex offer MetaTrader 4 as it is one of the most recognised trading platforms for retail forex traders in Malaysia thanks to its advanced charting tools. I like that out of the box you have access to 30+ technical indicators from moving averages to Bollinger bands and 24 analytical objects making on-chart technical analysis simple. I like that worldtradex provides a variety of trading platforms that all trading styles can use, making the broker a versatile option to benefit from the lower trading costs. Whether you’re a beginner with worldtradexTrader’s market analysis tools, automate your trades with MT4’s EAs, or day trade with depth of markets tools on MT5 there is something for everyone.