worldtradex offers Standard Accounts, perfect for beginners or those who hate commissions. Well, during my testing, the spreads on major forex pairs like EUR/USD were around 1.0 pip. The multi-jurisdictional approach has advantages and disadvantages. For traders seeking the most robust client protection, the ASIC-regulated entity offers the strongest safeguards. However, Worldtradex scammers CySEC-regulated accounts might be more attractive to those comfortable with higher leverage. worldtradex supports a variety of funding methods, including bank wires, Neteller, PayPal, credit cards, and Skrill, providing flexible options for account deposits and withdrawals.
The accounts for the broker are audited annually by the leading firm in the country, BDO Australia. They meet all of the appropriate compliance checks and balances. worldtradex has been around since 2005 when they were founded in Australia. They are a CFD and forex broker that is owned by First Prudential Markets Pty Limited. Their headquarters are in Sydney and they have been offering online financial trading for the past 14 years.
Trading Conditions
Its free educational content also sets it apart from the competition. Get access to trading signals from Trading Signal and Autochartist as soon as you fund your account. You’ll also get access to free trading courses for beginners and experienced traders, weekly webinars and e-books. worldtradex shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader, TradingView, or cTrader platform. The Iress platform suite offers well over 10,000 tradeable symbols, but it’s mostly a share trading platform and is generally a much pricier option.
If you are looking for a reliable and innovative broker to take your trading to the next level, worldtradex is an excellent choice. worldtradex offers 24/7 customer support to both retail and professional clients globally through various channels, including phone / call back service, email, live chat, and social media. The company showcases its customer service awards and emphasizes delivering personalized and proactive support.
Trading Tools & Tech
While basic withdrawals are generally free, certain methods incur fees. For instance $10 USD for international bank wire transfers, $25 USD for international broker-to-broker transfers, Neteller charges 2%, Skrill 1%, FasaPay 0.5%, PayTrust 1.5%, and PayPal 2%. FP https://worldtradex.site/ Markets deposits and withdrawals are free, easy and instant (if you pay by card or cryptocurrency). Its Raw account, designed for experienced traders, has a low $3 commission per lot, per side, and spreads from 0 pips.
- worldtradex has received numerous awards over several years, highlighting its strong position in the forex and CFD brokerage industry.
- The accounts for the broker are audited annually by the leading firm in the country, BDO Australia.
- For instance $10 USD for international bank wire transfers, $25 USD for international broker-to-broker transfers, Neteller charges 2%, Skrill 1%, FasaPay 0.5%, PayTrust 1.5%, and PayPal 2%.
- However, CySEC-regulated accounts might be more attractive to those comfortable with higher leverage.
- worldtradex offers over 290 ETFs for diversified investment portfolios.
Web Trader and MT5 mobile trader
They offer a Virtual Private Server (VPS) service that provides advantages for Forex traders, particularly those using automated trading strategies. This allows for trading even in offline mode, maximizing uptime. Traders who deposit a minimum of $1,000 or trade over 10 lots per month on the Standard Account or 20 lots on the Raw Account can access the VPS service at no additional cost. Withdrawals are processed immediately, but the time it takes for funds to reach the trader’s account depends on the bank or payment provider. Processing is typically completed within one business day, but the actual transfer times vary by method. E-wallets are usually the fastest, while bank transfers may take one to five business days, and credit/debit card withdrawals typically require two to five business days.
With a solid foundation in low-cost trading and continuous improvements in services and platforms, worldtradex continues to be a preferred choice for traders globally. In our analysis, worldtradex stands out as an extremely attractive choice for cost-conscious investors. It offers competitive spreads on its commission-based account, Raw ECN, averaging 0.1 pips for the EUR/USD, well below the industry average of 1.08. There is a flat rate fee of $6 per round-turn on a standard lot of forex with this option, however. The Standard account has a pricier average spread of 1.1 for the EUR/USD pair.
With a presence since 2005, they cater to a global audience interested in speculating on currency markets, commodities, indices, and even cryptocurrencies. worldtradex FX offers over 70+ forex currency pairs, including major, minor, and exotic pairs. Enjoy consistently tight spreads starting from 0.0 pips, available 24 hours a day, 5 days a week.
Traders have access to an economic calendar and forex calculator. Standard Lot is 100,000 units of the base currency displayed as 1.0, Mini Lot is 10,000 units of the base currency displayed as 0.10 and Micro Lot is 1,000 units of the base currency displayed as 0.01. worldtradex may require additional documentation or verification steps before processing a withdrawal. We transferred funds from the account back to our debit card, and it was completed in under 24 hours. Multi Account Manager (MAM) or Percentage Allocation Management Module (PAMM) accounts are also available.
How do I open an account with worldtradex?
worldtradex uses an ECN for Forex on Raw accounts, providing direct pricing from top-tier liquidity providers with no markup. For certain CFDs and Equities, they offer Direct Market Access (DMA), allowing real-time access to live market prices straight from exchanges. Overall, worldtradex makes it easy to withdraw funds, but traders should check the fees and limits involved to ensure a hassle-free experience when accessing their funds. This type of account is ideal for traders who work with smaller volumes or are fine-tuning their strategies. worldtradex is a true ECN broker with low spreads and superior execution on the MT4, MT5, TradingView and cTrader platforms.
You may also trade through your browser or TradingView if you prefer. Yes, based on your detected country of UA, you can open an account with this broker. Do negative reviews mention recurring issues or one-off glitches? A healthy mix of opinions can paint a more realistic picture than just glowing testimonials. worldtradex does not provide services to residents of the following countries. They are Afghanistan, Cuba, Iraq, Iran, Liberia, Libya, Myanmar, Palestine, Russia, Somalia, Syria, Sudan, Yemen, worldtradex USA, and any countries on the FATF and EU/UN sanctions lists.
FP Market review is a leading online broker and it offers a range of trading platforms to cater to different trader needs. One of the only drawbacks to their offering is the charges they have on deposits and withdrawals when using their Iress platform. Otherwise they have a quality customer support team, competitive price and a great reputation in the sector for serving the needs of their customers. If you need to do so, you are able to put in a request for a special borrow for a particular stock if you get in touch with the customer support team. worldtradex offers a broad array of trading instruments including over 70 currency pairs (7 majors, 21 minors, and various exotics), more than 780 share CFDs, 46 ETFs, and 2 bonds. The platform also includes over 15 equity index CFDs, 8 additional index CFDs through Direct Market Access, and a variety of commodities comprising 17 metals, 5 energy products, and 7 soft commodities.
The support team was knowledgeable, promptly addressed our questions, and provided links to relevant resources when needed. We also used the email facility and received a prompt response within 15 minutes answering all of our questions thoroughly. worldtradex offers free educational videos, training guides, live webinars, podcasts, events, platform tutorials, eBooks, a trading glossary and newsletters.
The good news is worldtradex boasts a relatively low minimum deposit threshold compared to some other brokers. This makes it accessible to traders who want to experiment with the platform and test their strategies with a smaller initial investment. When a broker prioritizes financial stability through measures like client money segregation and capital adequacy, it directly translates to secure and timely payouts for traders. If your funds are held separately, there’s no reason for the broker to withhold them.
- This allows for trading even in offline mode, maximizing uptime.
- In my experience, worldtradex generally offers good market depth and liquidity.
- worldtradex is a global broker that started in Sydney, Australia in 2005.
- Headquartered in Sydney, Australia, they’ve carved a niche in the online trading space.
- Overall, my experience with order execution on worldtradex was positive.
This transparency inspires confidence and demonstrates worldtradex’ commitment to regulatory compliance. Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). This table provides a breakdown of commissions and fees for Forex, Metals, Commodities, and Indices.
However, this protection is not universally available and applies only to certain clients based on their jurisdiction. This comprehensive offering makes worldtradex a versatile platform for both individual and wholesale traders. Share accounts through IRESS require a minimum deposit of $1,000 AUD.