This allows us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation. According to all reviews and warnings we can say there could be potential issues with this broker. Even though they are regulated, but with low Tier regulation. The only point of that is losing money as quickly as possible. Then the broker has reason to call you and pitch you for more money.
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. I tested worldtradex’s transparency by checking the availability of essential information on the website. Its Client Agreement is easily accessible and pretty exhaustive.
US clients are not permitted to trade with this broker. Web trader is nothing more than a basic platform with some technical and analytical tools and with a user-friendly interface. It is very simple to use and it’s suitable for beginners. Clearly, that it was a further scam, it was evidently deduced from the fact that this sum of money could not be deducted from the capital earned as a further payment must necessarily be paid by our client. Over the last period we have been receiving a lot of calls from people who report having problems with the apparent online trading activity by this company.
worldtradex seems like a reliable platform…
The platform could work against you, and believe me, it will. If you have been scammed by this or any other fraudulent broker, we would be grateful if you could share it with us. They are only there to be used usually as a way to lure you in. Demanding less capital to get a license is not as alarming as allowing to do business without “Account Segregation” and “Negative Balance Protection”. Advertised as a regulated broker, worldtradex is operating under the Seychelles Financial Services Authority. Seychelles regulator is notorious for having liberal rules on giving out broker licenses.
What platforms does worldtradex offer?
This organization lacks the authority to control a company’s actions as strictly as larger regulators. If issues arise with withdrawals or dishonest practices, you will have very few means to protect yourself. Next, worldtradex informs that the application is under review, but after this, the personal cabinet is still open. Moreover, the potential client has to wait for the review of their application, which delays the process of starting trading. What stands out the most is the lack of specific information about the broker itself.
tight spreads guarantee that you will get good profits and worldtradex delivers them!
It also supports automated trading via its Expert Advisors (EAs) feature. Meanwhile, the mobile app version of the platform supports Worldtradex trading on the go. My tests indicate that worldtradex’s trading fees exceed the industry average. Such a full-sized EURUSD position usually costs around $10. Only the Privilege account type comes close to the average, but to qualify for this account type, you need to deposit at least $10,000.
worldtradex provided all I like, MT4 stable platform, fast support, high leverage on forex. We’re glad to hear you’ve been able to do well with the platform. We’re consistently looking at various features that might make the platform more useful for our traders. worldtradexs’ support team is responsive and helpful… I appreciate their approach and willingness to help, not only to tick off a request 😀 They guided me through a few account-related issues effectively. However, I feel like the live chat could be faster during peak hours.
My Key Takeaways After Exploring worldtradex’s Tradable Instruments
The only time the broker may charge a $55 handling fee is for withdrawals below $300. Withdrawal requests above this amount are free of charge. worldtradex offers commission-free trading and above-average floating spreads. Its overnight fees are average for the broader industry.
Customer Support Test
The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises. Who in their right mind would trade with such an openly fraudulent company? No license, a short operating history, plus many fake positive reviews. The exact operating period is not stated on the official website, but worldtradex boasts awards received in 2022, 2023, and 2024.
worldtradex’s Desktop MetaTrader 4 Platform
With this I haven’t had any issues when it came to making payments either with my deposits or withdrawals because the platform provided various means of payment. The broker has also added an online chat feature to its official website. worldtradex is also active on social media, but among all, Instagram is the only popular platform with more than https://worldtradex.world/ 5,000 followers. On YouTube, the company’s performance is poor, with less than 10 views per video.
- If you ever feel like the firm is more interested in your deposit than helping you trade, report it immediately.
- You can check our Financial Services Register to make sure a firm is authorised and has permission for the service it’s offering you.
- Hello Anne Simpson,We are so grateful that you took the time to write this excellent review!
- For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.
- In my estimation, worldtradex’s most useful type of educational content is its webinars.
- A regulated broker can provide you with security, proper education about trading, and stable trading conditions without a doubt.
Those are the most reputable ones with very strict rules. We wanted to check if worldtradex has any of those, and as you could guess yourself, they don’t. In our opinion, the answer is yes because we have already done it in favor of some of our customers. You can check our Financial Services Register to make sure a firm is authorised and has permission for the service it’s offering you.
The table shows how much you will have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10. I found out that the live spreads listed on the website correlate to the actual price quotes on the platform, underpinning worldtradex’s high level of fee transparency. I also discovered that the broker has a ‘best execution policy’, guaranteeing that traders’ orders will be filled under the most favorable price quotes under the prevailing market sentiment. As we mentioned about worldtradex reviews, clients had issues with withdrawals.
I am thinking of making such a deposit (from 500 usd) which will allow me to do so. Another perk is having a great contact with the support team, always ready to help. worldtradex seems like a reliable platform with fair conditions. I haven’t faced any major issues, and the broker appears credible. Still, I’d like to see more transparency in some areas. So far, trading here has been decent, and I haven’t had reasons to doubt its reputation.
His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor’s degree in Economics and International Relations. Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers.
- Only live account with a minimum deposit requirement of 200$.
- In the website footer, it is indicated that the broker’s managing company is Tradeco Limited, registered in the Seychelles.
- People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
- We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.
- So today, we will check whether this platform is truly safe or if something is wrong with it.
The broker operates on a Straight-Through-Processing (STP) basis without a dealing desk. Order requests are transmitted to the interbank level, where worldtradex’s liquidity providers fill them. As long as there is enough liquidity in the market, all order requests will be filled at varying speeds. The easiest way to get in touch with worldtradex is live chat, which is available from the bottom-right corner of the main page. The website also has a dedicated FAQ section intended to help with more general queries about the broker’s services.