Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. worldtradex’s top priority is to ensure security and reliability for their clients as well as offering round-the-clock customer service for quick resolution of traders’ queries. In the case of no activity, including funding or trading, within one year, the company reserves the right to charge an annual administrative fee of $50 (or currency equivalent).
- It’s highly probable this software program is malicious or contains unwanted bundled software.
- With a deep liquidity pool in futures trading, traders can take large positions without worrying about slippage.
- They provide traders with assistance when it comes to trading accounts, deposits, withdrawals, and more.
- For traders who prioritize tight spreads and prefer not to pay commissions, worldtradex’s model aligns with their needs.
- Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid.
For withdrawals and deposits, worldtradex does not charge any extra fees for using their payment gateways. However, clients might need to pay third-party charges depending on their payment method. Your account should reflect your goals, needs, and ambitions on the market.
worldtradex Regulation Summary
The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account. My tests indicate that worldtradex’s trading fees exceed the industry average.
It could be argued that MetaTrader set the standard for how retail platforms should be organized. worldtradex is still a relatively new broker, having been established just a couple of years ago. Hence, the company is still working on developing a strong brand name that is trusted internationally. It is currently licensed and regulated by a single regulatory body – the FSA of Seychelles, which requires brokers to ensure segregated funds and negative balance protection. However, there is no cap on the maximum retail leverage, and no compensation scheme has been put Worldtradex company reviews in place. worldtradex has invested time and energy in developing research materials, which I found quite diverse and unconventional.
Trading carries a high level of risk and may not be suitable for all investors. We provide broker reviews and ratings to help users find a suitable broker according to their own needs. However, you must do your own due diligence and make your own decisions when choosing a broker. This compensation should not be seen as an endorsement or recommendation, nor shall it bias our broker reviews.
worldtradex has a single subsidiary – Tradeco Limited – which is authorized in Seychelles by the local regulatory body. According to our system, the FSA Seychelles is a Tier-3 offshore regulator, which mandates compliance with some of the essential safety mechanisms. We do not encourage or condone the use of this program if it is in violation of these laws. Your review has been sent for the moderation and will be posted on the broker page after approval.
Withdrawal times vary depending on the Payment provider but range from the same day to 10 business days. In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is in terms of readily available information. It’s highly probable this software program is malicious or contains unwanted bundled software. This software program is potentially malicious or may contain unwanted bundled software.
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However, the combination of commission-free trading and floating spreads from 1.8 pips exceeds the industry average. The Privilege account, as the name suggests, features the most favorable trading conditions, but the minimum deposit requirement is quite elevated. worldtradex offers both fixed and floating spreads, and these may vary depending on the type of trading account and the market conditions.
What funding options does worldtradex offer?
The competitiveness of worldtradex’s fees depends on the asset classes traded. For instance, I found the combination of commission-free trading and generally low spreads on share CFDs extremely favorable. worldtradex does not charge a handling fee for deposits and withdrawals, though third-party banking fees may apply.
Deposit and Withdrawal
In case the client’s account balance is below $50 (or currency equivalent), the company will charge any remaining balance and archive the client’s account. It is regulated locally by the Financial Services Authority (FSA) of Seychelles and adheres to some of the main safety requirements in the trading industry. worldtradex offers a fairly decent range of educational content, providing beginners with a firm basis to further their learning. Multiple written and video materials cover essential topics related to technical and fundamental analyses, as well as the psychology of trading. Assistance is available in a wide range of languages, including English, French, Spanish, Chinese, and Arabic, during business hours, Monday to Friday. Compared to the broader industry, worldtradex offers an average amount of share CFDs, and a high amount of FX pairs, commodities, indices, and cryptocurrencies.
It functions as a mechanism that prevents the account balance from going into negative figures, ensuring that traders don’t end up owing money to the broker. Deposit and withdrawal processes are protected with the latest SSL encryption and other security technologies. As the broker is regulated, clients should complete their KYC that is in line with the Seychelles Financial Services Authority. 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.
The Privilege account offers all the features of Standard and Premium accounts. The main difference is in the spreads, with an average spread of 1.1 pips. The MT4 platform is available as different versions, such as the desktop version and the mobile app.
Regulation and Safety
- For instance, I found the combination of commission-free trading and generally low spreads on share CFDs extremely favorable.
- Withdrawal times vary depending on the Payment provider but range from the same day to 10 business days.
- Its content is diverse and provides a basic explanation of current market trends and developments.
- Traders can select between fixed spreads and flexible (floating) spreads, each with its own set of advantages and considerations.
- The competitiveness of worldtradex’s fees depends on the asset classes traded.
- Each of these platforms caters to different trading styles and preferences.
The website also has a dedicated FAQ section intended to help with more general queries about the broker’s services. In our reviews, we examine the licenses and regulations of each entity operated by a broker. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. worldtradex also provides a negative balance protection policy to ensure that traders’ funds do not go below zero. This is one of the benefits provided by the broker and ensures that traders do not lose more money than they have invested. In the case of worldtradex, its regulation by the Seychelles FSA is a positive aspect, as it signifies adherence to recognized standards in the industry.
However, the broker does not incorporate any third-party content, which is essential for affording its clients an additional perspective. I requested additional information about worldtradex’s execution model, average execution speed, and general trading conditions. An agent connected almost instantaneously to the chat, but they did not introduce themselves.
The broker offers access to a diverse portfolio of over 300 tradable instruments across major asset categories. The broker’s low spreads make it one of the most competitive brokers in the market. worldtradex is regulated and authorized by the Seychelles Financial Services Authority (FSA) which ensures that worldtradex complies with all applicable laws and regulations. Client funds are kept in segregated accounts in top-tier banks, and the broker also implements the latest encryption technology to protect clients’ personal and financial data.
MT4’s app suffers from the same underlying problem inherent to other mobile apps. Analyzing price action behavior on low-resolution devices is extremely difficult. That is why I recommend using the mobile app only to monitor your positions’ development and make changes if needed.
Any rates, terms, products and services on third-party websites are subject to change without notice. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. I did not find any specific feature in worldtradex’s offering to say that the broker is better suited for high-frequency or longer-term trading. The easiest way to get in touch with worldtradex is live chat, which is available from the bottom-right corner of the main page.
