Read our full explanation and accounting of our research and testing process to learn more about how we test. Stocks of well-known companies can be another good starting point. Investing in companies you are familiar with can make it easier to follow market trends and understand the factors influencing stock prices. Overall, due to a long history of responsible behavior, strong international regulations, and wide industry recognition, we consider worldtradex to be a trustworthy and safe broker.
These accounts are designed for clients who cannot trade swaps due to religious beliefs. However, the broker’s technical support can be inconsistent, as evidenced by customer reviews highlighting discrepancies in service quality. All information on The Forex Geek website is for educational purposes only and is not intended to provide financial advice. Any statements about profits or income, expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed.
My Key Takeaways After Exploring worldtradex’s Instruments Offering
All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. This company has this telegram channel that scam people for money. On the other hand, as we noticed worldtradex has a limited portfolio for EU clients, and outside EU clients there is no good investor protection. The main branch is located in Cyprus regulated by CySEC, yet offices truly cover global needs and serve through Australia, UK, Belize, Greece also authorized in Dubai and MENA region.
Desktop Trading Platforms
- Additionally, worldtradex ensures that its Islamic accounts do not charge extra fees as a substitute for swap fees.
- It eliminates overnight interest charges, making it suitable for those seeking trading opportunities that align with Islamic finance principles.
- It requires a minimum initial deposit of $10,000 and does not allow hedging.
- These accounts are designed for clients who cannot trade swaps due to religious beliefs.
- And they don’t have a local phone number in South Africa for getting local support.
The broker keeps clients’ investments in segregation with its own capital, ensuring clients have real-time access to their funds. Although the broker doesn’t have a proprietary trading platform, the company satisfied clientele trading needs with third-party trading platforms like MT4 and MT5. With small deposit requirements, worldtradex makes it easy for everyone to come on board. Its instant trade execution policy accompanying guaranteed stops loss (GSLs) helps clients to avoid slippage issues.
However, the company’s spreads are subject to change depending on your chosen financial instruments. If you are a retail trader, looking for a broker that focuses on stocks and forex, then worldtradex should certainly be worth your consideration. With great customer support, excellent research and education content and negative balance protection, worldtradex is certainly great for beginner traders. As is often the way with brokers who feel their pricing is a major selling point, worldtradex’s site contains an easy to read and super-transparent breakdown of all costs. Their tables include spread rates but also detail if any other commissions might apply and what financing rates on trades might be.
Does worldtradex have ZAR Account?
For BTCUSD, its usually below $70, which is actually less than 0.13%, very good for crypto. For CHFSGD, which I’m a big fan off, my spread with worldtradex is typically pips, its actually very small for this pair. Even on H1 you can see that daily moves are way beyond this spread. Very nice to just daytrade, don’t need to hold positions for long and dont need to try to time it just right. worldtradex is a famous broker, so I didn`t have any doubt and hesitation to start trading with them. It was convenient to trade on both app and MT5 web platform, combining the charts analysis on the web with the opening of the positions through my smartphone.
worldtradex Broker Review
worldtradex offers clients the opportunity to trade in more than 1,200 markets. That is a healthy number and means even the most discerning trader will be likely to find the market they want to trade. The high-quality and written research in the news content covers all types of research, geopolitics, fundamentals and technical analysis. In addition, this research can be filtered by asset class, which is a huge bonus for traders in being able to get to see what they want to see. There is a news tab, a research tab which encompasses all of the exam bespoke, in-house research. Furthermore, there are trade idea and technical summary sections, alongside the economic calendar.
Their spread with their Micro & Standard accounts is quite high, but it is moderate with the Zero account. The good thing that we like is worldtradex’s zero fees on deposits & withdrawals, while some other brokers charge high fees during funding & withdrawals. worldtradex Trading is popular forex broker in South Africa & they are a market maker broker. They were founded in 2009 & are one of the largest forex brokers in world in terms of daily trading volume, and have close to 2.5 million clients globally. The broker also releases highly insightful webinars several times a week.
Flexible account types, rich educational resources, and round-the-clock customer service make it a value-for-money broker. However, the unavailability of the proprietary trading platform could become a point of concern for some traders. The broker offers CFD markets in more than 1,200 financial instruments.
What is the best worldtradex account that suitable with my characteristic? Moreover, the platform also provides a trader with fractional pip pricing. Fractional pip pricing allows the broker to implement the best prices available from liquidity providers.
- The worldtradex ultra low account is an account type that features spread mark-up starting from 0,6 pips (40% cheaper than the industry standard of 1 pip).
- worldtradex services are available all across the globe except for a few jurisdictions, such as Iran, Somalia, Afghanistan, North Korea, Canada and the United States.
- You will receive a margin call warning once your account equity plunges below 50% (the required margin to open positions).
- When you use worldtradex to trade, you will be subject to fees related to both trading and non-trading activities.
- worldtradex Group is a group of regulated brokers and it is owned by Trading Point Holdings Ltd.
The exact margin requirements vary according to the instrument & below is the table of the contract specifications & trading conditions. We consider worldtradex to be a Worldtradex reviews moderate risk forex broker for South African traders are they are not regulated by FSCA in South Africa, and are regulated with ASIC (Australia) & CySEC. Novice traders can learn about reading price action behavior, utilizing a wide array of technical indicators, and building effective trading strategies. worldtradex’s Ultra Low Micro Account is geared toward cent trading and testing the performance of newly created trading algorithms.
The stop-out level is set so that when the equity level reaches a certain point, it will automatically close the clients’ floating positions. All retail clients with worldtradex Ultra-Low Accounts, Micro Accounts, or Standard Accounts have a stop-out level of 20%. For their global approach, worldtradex has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions. For example, traders from Indonesia could access worldtradex via this link. For the deposit, worldtradex applies zero-fee deposits in most of its available payment methods.
worldtradex is different from competitors because it focuses on trader education, and therefore is suitable to traders with different levels of experience. It turned out that they have 5 accounts to choose from and I don’t know why they don’t show this information on the official website. So it disappointed me a little bit, anyway, after reading all the terms and conditions, i picked the ultra low standard account. In my opinion, this account is the most favourable in terms of trading conditions like spreads and swap commissions. Very clean charting and analytical process is so easy with the webtrader.
worldtradex Global offers a similar selection of instruments and provides higher leverage options in some instances. It includes more than 50 cryptocurrency CFDs available only in regions regulated by the Financial Services Commission (FSC) of Belize. While both worldtradex entities provide a comprehensive range of trading options, specific offerings may vary due to different regulatory requirements. worldtradex operates primarily as a market maker broker, maintaining its own dealing desk to execute client orders internally. This model allows worldtradex to set its own bid/ask spreads, which may vary, and act as the counterparty to client trades. However, worldtradex is regulated by multiple authorities that oversee its practices, providing a level of oversight and protection for traders.
Platforms and Tools
Traders who are new to the game and are cautiously just finding their feet may prefer the option of the Micro Account. This account is great if you are worried about blowing up your trading account by making silly mistakes on the platform such as using the wrong trade size. Once traders gain experience of the whole trading experience they can migrate to the Standard account for larger contract sizes. One of the attractive features of the worldtradex set up is that the broker allows a larger than average number of base currencies.
Execution quality
The worldtradex Micro account is tailored for traders who prefer to trade with smaller lot sizing. worldtradex allows traders to deposit and withdraw money through wire transfer, credit and debit cards and eWallets such as Neteller and Skrill. All content on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalized advice before you make any trading or investing decisions. DayTrading.com may receive compensation from the brands or services mentioned on this website.