Our main objective is to help readers make better-informed decisions when choosing online brokers and learn the foundations of trading rather than providing financial advice. Please consider contacting a professional advisor if you require any financial assistance. The broker does not charge any additional fees for withdrawals via credit and debit cards, domestic bank wires (AUD), and PayPal.
The bid price is the price at which you can sell the base currency, and the ask price is the price at which you can buy the base currency. In Australia, where its headquarters are located, the broker is regulated by the Australian Securities and Investments Commission (ASIC), a top-tier financial regulator. MT4/MT5 allow Expert Advisors; cTrader supports cAlgo (C#); VPS hosting and FIX API access are available for automated strategies. Choose Visa/Mastercard, Skrill, Neteller, local bank transfer, crypto (BTC, ETH, USDT) or SWIFT. The broker’s YouTube channel features over 150 videos organized into playlists such as ‘MT4/5 Basics’, ‘Technical Indicators’, and ‘How to Read the COT Report’.
Traders can access Worldtradex’ web-based trading platform from any web browser without the need for installation. This web platform offers flexibility and accessibility, making it a convenient choice for traders who prefer to trade from various devices and locations. It provides essential trading features and tools, ensuring a smooth trading experience.
How can I delete my Worldtradex account?
When compared to the best brokers for research, Worldtradex has room to improve and could enhance its research offering by expanding it to include a wider array of daily content. Yes, Worldtradex offers cryptocurrency CFDs, allowing traders to speculate on popular digital assets like Bitcoin, Ethereum, and Litecoin without owning them directly. Yes, Worldtradex provides a VPS service, particularly beneficial for traders using automated strategies or expert advisors (EAs), with free VPS available to high-volume traders. Although the level of protection varies based on the regulatory authority governing your account, Worldtradex demonstrates a strong commitment to financial transparency and responsible client management.
Help is offered in a variety of languages, and when we reached out, we found the staff to be knowledgeable, friendly, and quick to respond. If you are using a credit card, there is no transaction fee for depositing to a MetaTrader account, but there is a 3.18% fee for most currencies if you are using the Iress platform. If possible, open an account in your currency to avoid unnecessary currency conversion fees. The time required to process transactions varies, depending on the payment method you use.
The tools are made to empower traders to make informed trading decisions and capitalize on market opportunities. Forex and CFD traders will find a versatile, affordable MetaTrader and cTrader offering at Worldtradex, but with fewer research and educational content than what is offered by industry leaders. 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. Worldtradex keeps most non-trading fees to a minimum, reinforcing its reputation as a cost-effective broker.
- Worldtradex is regulated by ASIC, CySEC and FSCA, holds client funds on segregated AA-rated bank accounts and has operated since 2005 without major regulatory issues.
- However, you will be required to upload various KYC documents for account verification, which can take a day or more.
- They have been on the receiving end of many awards over the years and their platform is very easy to use.
IRESS
Traders should be aware that while leverage can magnify gains, it also increases the risk of losses, and therefore should be used judiciously and with proper risk management strategies in place. Worldtradex maintains a highly transparent and cost-efficient fee https://worldtradex.blog/ structure, making it an appealing option for both novice and seasoned traders who prioritize clarity and affordability. The broker provides detailed and easily accessible information on spreads, commissions, and swap rates, allowing clients to understand and manage their trading costs with confidence. For those who prefer not to install software, Worldtradex provides access to WebTrader, a browser-based version of both MT4 and MT5. This platform allows users to trade directly from any modern browser without compromising functionality.
There is no inactivity fee; if an account is dormant for 30 days and the balance is zero, it is archived without any charge. For the Standard account, there is no separate commission; costs are fully incorporated into the spread. The scores provide a quick reference but do not reveal all the nuances—continue reading the review to explore detailed arguments and real test cases. Later, a European division under a CySEC license and a South African entity under an FSCA license joined the Australian company, transforming Worldtradex into an international brokerage group.
Range of platforms
The Standard Account is ideal for new and intermediate traders seeking a straightforward and commission-free trading experience. This account type is available on both MetaTrader 4 and MetaTrader 5 platforms. It provides a demo account, offering a risk-free environment for practice. Managed accounts are available for those preferring professional management. The broker’s user-friendly interface, educational resources, and demo account make it suitable for beginners. Simultaneously, its extensive range of instruments, low spreads, and advanced trading tools cater to professional traders.
Desktop Trading Platforms
An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Adding more advanced video courses would only serve to improve Worldtradex’ educational experience. Most of Worldtradex’ research is found under the Traders Hub blog section on its website, where it is separated into technical and fundamental analysis.
Worldtradex provides traders with a good selection of financial instruments across different asset classes, including forex, equities, indices, commodities, futures, and cryptocurrencies. The broker’s product lineup is quite rich compared to rivals like OANDA and Fusion Markets. The broker sources its liquidity from top international financial institutions, which enables it to offer forex spreads as low as 0.0 pips on Raw accounts and 1.0 pip on Standard accounts. The Autochartist plugin is installed on MT4/MT5 and is available for free to all clients with a deposit of at least 500 AUD (or with a monthly turnover of ≥ 0.1 lot). The service scans the market 24/5, recognizing chart patterns, Fibonacci levels, and key support/resistance levels, and then sends push, email, or Telegram alerts when a signal is detected.
- Overall, the customer support is considered one of the broker’s strong points, especially for new traders.
- In addition to Forex, MT5 supports commodities, indices, futures, equities, bonds, and options trading.
- There is a 1.8% credit card fee for withdraws and a $20 fee for bank transfer withdrawals.
- Headquartered in Sydney, Australia, Worldtradex (First Prudential Markets) was founded in 2005 as an online retail forex and CFD broker.
- With low margin requirements, fast execution, and AU$1 per point pricing on select indices, the platform appeals to traders seeking macro-level exposure.
These mobile platforms replicate the core functionalities of their desktop counterparts, including real-time quotes, order execution, and technical analysis. Designed with a mobile-friendly interface, the apps ensure that traders can manage their portfolios efficiently from virtually anywhere. Alternatively, traders can also access their accounts through WebTrader without downloading any app. Worldtradex provides its clients with a comprehensive suite of trading platforms designed to suit all levels of experience and trading styles. Whether youre new to the markets or a professional trader, the broker ensures a seamless trading experience across desktop, browser, and mobile environments.
Access to institutional-grade liquidity with no price manipulation, no dealing desk, and no requotes. Now, let us provide a short list of the key features of Worldtradex we like. While Worldtradex serves a global clientele, it does not accept registration applications from residents of countries like the US, Japan, or New Zealand, where its services violate local laws and regulations. He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018. Hedging is fully allowed on all MT4/MT5 and cTrader accounts without additional margin penalties.
By connecting to multiple liquidity providers, brokers like Worldtradex can deliver ultra-low latency and minimal slippage. With the ECN model, orders are matched and executed at significantly better prices. This works extremely well for forex traders relying on strategies like scalping with Expert Advisors (EAs), as it further accelerates the execution speed. Worldtradex offers competitive trading commissions and spreads on Raw accounts, but Standard accounts have relatively high spreads. There are no fees on deposits and withdrawals (apart from the fees on payment methods), which is a huge plus. To support trading on the go, Worldtradex offers mobile versions of MetaTrader 4, MetaTrader 5, and the Iress suite.
Each metric is calculated strictly according to our proven broker evaluation methodology, taking into account both objective metrics (spreads, execution Worldtradex forex brokers reviews speed, licenses) and secret shopper results. Worldtradex earns a top-notch rating in trust and safety due to its extensive regulation, comprehensive fraud prevention measures, and stringent client fund security protocols. Traders can have confidence in the broker’s commitment to maintaining a secure and trustworthy trading environment. Opening an account with Worldtradex is a simple process you can complete entirely online. Traders need to fill out a registration form, undergo verification, and fund their account to start trading.
This approach allows less experienced traders to benefit from the expertise of seasoned traders without needing to actively manage their trades. It provides an opportunity for traders to potentially earn profits by following the strategies and decisions of those with a proven track record. 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. Its Raw account, designed for experienced traders, has a low $3 commission per lot, per side, and spreads from 0 pips. Client funds are held in segregated accounts at top-tier banks, separately from the company’s funds to ensure they cannot be used for any other purpose.
Copy trading accounts are available if you prefer to copy other traders, rather than making your own investment decisions. We like the Worldtradex copy trading platform because it provides more risk management tools than other platforms. It’s free to copy others, as your signal provider will only charge a performance fee on profits. 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. It supports all order types, including complex orders used for custom strategies.
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