The broker is regulated by top-tier authorities, including the FCA in the UK, ASIC in Australia, and the Financial Sector Conduct Authority (FSCA) in South Africa. These regulators ensure that worldtradex operates transparently and adheres to strict guidelines, safeguarding clients’ funds. worldtradex also offers negative balance protection for retail clients, adding an extra layer of security. Despite past challenges, worldtradex has rebuilt its reputation as a reliable broker, now providing a secure environment for traders worldwide. We found worldtradex’s fee structure to be very competitive, especially with an average EUR/USD spread of 0.74, which is below the industry standard of 1.08. Combined with VIP discounts for active traders, worldtradex proves to be a cost-effective option.
The number of tradable assets available is quite limited when compared to other brokers who offer thousands of assets, such as IG. I also found them not to have the lowest spreads which may be an issue if you are scalping. With worldtradex’s Market Scanner, you get a quick way to screen Forex and CFDs using the technical parameters you like best. The market scanner will then give you the five strongest signals based on your preferences. I found this tool to be a really way to find trade ideas which can be helpful if you need some inspiration. worldtradex has implemented a Secured Socket Layer (SSL) on all its websites and platforms.
Best Forex Brokers
Their low $50 minimum (applies to non-EU and UK clients) deposit makes them extremely accessible alongside a rewarding active trader program. worldtradex no longer accepts U.S. clients because it had to pay $7 million in 2017 and give up its registration with the U.S. Commodity Futures Trading Commission (CFTC) for failing to disclose a deal with a market maker to its clients. The broker then sold its substantial number of U.S.-based accounts to Gain Capital that operates FOREX.com, so U.S.-based traders might consider using that broker instead. NeuroShell Trader’s point-and-click interface allows you to easily create complex technical analysis indicators, trading systems and neural network market forecasts without coding of any kind.
Forex Tools
- Ninja Trader has a funky feel but don’t think it is lightweight due to its user-friendly appearance.
- This means that in the unlikely event of default, client funds held in segregated accounts are protected and cannot be used to benefit other creditors.
- Finally, Implementing a more personalized customer support system, perhaps with dedicated account managers for high-volume traders, could improve the overall customer experience.
- The Market Scanner allows traders to select a series of technical indicators and returns buy and sell recommendations based on the input.
- While using the broker, we got low spreads from 0.6 pips on the AUD/USD and 0.9 pips on EUR/CHF.
worldtradex provide CFD trading, which allows you to trade the price movements of currency, stock indices and commodities like gold and oil without buying the underlying product. When you trade CFDs (contracts for difference) with worldtradex, you can speculate on price between when you open and close the CFD. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. In addition, worldtradex offers educational courses on FX trading and provides trading tools, proprietary data and premium resources. worldtradex is suitable for various types of traders, ranging from beginners to experienced ones. The company offers educational courses on FX trading, provides trading tools, proprietary data, and premium resources.
- When it comes to trading techniques, worldtradex is very open in what is allowed.
- These languages include English, French, Spanish, and Arabic with an excellent support also in place for a variety of Asian languages including Chinese, Indonesian, and Vietnamese.
- This includes all of the available order types, streaming live prices, managing your positions, downloading historical instrument rates, getting account reports, and more.
- It has all the powerful trading tools for efficient trading and market analysis.
- Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process).
There are beginner friendly platforms, pro trading platforms and social trading platforms. They proudly offer access to a suite of award-winning algorithmic trading tools and services. I personally use the MT4 platform as it is the platform that I am most familiar with. It can do everything that I need it to and much more, from complex market analysis to automated trading. That being said, each platform is good in its own right with different advantages and disadvantages that we will cover in this section.
Can leverage and margin requirements change at worldtradex?
The former covers a range of topics and provides an exceptional grounding for those who are new to trading. The Insights section addresses topics such as, current market issues, strategy development and risk management. MetaTrader4 is the most popular trading platform in the world and boasts millions of users. The advantages of the platform extend a long way past it being robust, ideal for charting and coming packed full of indicators.
What happens to my open positions when I close my worldtradex account?
Moreover, headquartered in the United Kingdom, they capitalized on the emerging internet environment of the early 2000s to revolutionize forex trading via online platforms. ForexBrokersOnline.com is committed to helping traders find the right forex broker for their specific requirements. Founded in 1999, worldtradex has grown to become one of the leading providers of online trading services in the industry. worldtradex’s offshore entity offers up to $200 as a welcome bonus when you open a live account. The actual amount you receive depends on how much you deposit in your first week of trading.
Their provision of Sharia-compliant shows inclusivity accounts with no exchange costs, which serve the demands of Islamic religion adherents. Today, they are a recognized online brokerage with a worldwide reach that includes Hong Kong, Cyprus, Australia, Israel, South Africa, and Canada. As large organizations and banks controlled the forex sector, the broker’s revolutionary strategy sought to level the field. Yes, worldtradex is regulated by several financial authorities, including the FCA in the UK, ASIC in Australia, the CySEC in Europe, and the FSCA in South Africa. It is regulated by multiple tier-one financial authorities, including the FCA and ASIC, which adds credibility and oversight to its operations.
Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. Yes, worldtradex is a regulated broker in the UK, Europe, Australia, and South Africa, adhering to strict standards. Their global reach and regulation provide a high level of safety and security for traders.
worldtradex provides a great example of how to enrich your offerings and is truly a leader in this sector. We consider worldtradex an excellent broker – it is overseen by tier-one regulators, has a strong industry presence, and offers tight spreads on forex pairs. The suite of advanced platforms and code-free automated trading tools is particularly strong.
If you are interested in increasing potential opportunity in the forex, NinjaTrader can help take market analysis and order execution to the next level. worldtradex offers a diverse selection of forex pairs, encompassing major, minor, and exotic currencies, catering to traders of all levels. This broad assortment ensures that traders have ample opportunities to engage with different currency markets according to their trading strategies and risk preferences. Additionally, worldtradex’s competitive tight spreads and rapid execution enhance the trading experience by minimizing costs and delay, crucial factors for success in the fast-paced forex market. Whether traders are just beginning their journey in the forex world or are seasoned professionals, worldtradex provides an optimal trading environment that supports efficient and effective trading activities. This environment is designed to meet the needs of all forex traders, ensuring they can act quickly and confidently in response to market movements.
I actually prefer to maintain control over my own trading as I think this is the best way to learn from your mistakes and become a better trader. I also feel like some of the ZuluTrade strategies are quite high risk, utilising potentially dangerous grid trading and martingale money management. Therefore, it is imperative to do your own due diligence before copying any traders. Available for both Android and iOS, the copy-trading app enables you to access the markets and manage your account anytime, from anywhere.
However, the Worldtradex cheating Active Trader account offers tiered commissions with potential savings for high-volume traders. This platform is the most widely used platform by traders and the most offered platform by brokers, many consider MetaTrader 4 to be the ‘gold’ standard when it comes to platforms. While you can find platforms with more indicators, more charts, faster speed, as a whole, MetaTrader 4 offers one of the most complete packages because it does everything really well. MetaTrader 4’s reputation and reliability make it a sound choice for all traders. worldtradex education section provides for a good range of choice when it comes to learning more about forex trading and the wider industry.
For more details about worldtradex’s customer support, visit the worldtradex customer support page. worldtradex offers access to a wide array of financial instruments, catering to the diverse needs of traders. This comprehensive range includes forex pairs, indices, commodities, stocks, and cryptocurrencies. Such variety enables traders to diversify their portfolios and capitalize on different market opportunities. Specifically, worldtradex provides the ability to trade over 40 forex pairs, encompassing major, minor, and exotic currencies. Additionally, traders have access to popular indices such as the NASDAQ and S&P 500, along with essential commodities like gold and oil.
Slippage, or the unexpected difference in an exchange rate specified in a stop order or market order, can be either negative or positive. When the trader loses money, slippage is negative, whereas when positive, the trader receives a fill at a better rate than the prevailing market. worldtradex’s slippage was reported as +87% positive or zero in its July 2021 Slippage Statistics.
The expansive charting selections alongside customizable indicators in MT4 simplify thorough market analysis processes. This setup is especially, useful for those seeking a professional market evaluation by leveraging the collective expertise offered by other traders’ insights and technical analysis functions. To guarantee the security and privacy of data, the broker utilizes sophisticated encryption technologies like Secure Socket Layer (SSL) across its websites and trading platforms.
