Thousands of these indicators can be downloaded for free on the MQL5 code base. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
How to trade on worldtradexFX for beginners
By comparison, industry leaders Saxo, IG, and CMC Markets all offer over 10,000 tradeable instruments. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. The promo codes, according to their customer support, is a unique offer for some new clients. Nevertheless, new users can always use the promo codes of worldtradexFx affiliates to receive bonuses or chat with the live support on their website to get the promo code. Again, in addition to copy trading, it offers a wide range of educational materials inclusive of videos and articles which are meant to help beginners find their feat. Compared to other brokers, worldtradexFx claims to have low trading fees and charges nothing on deposit and withdrawal.
The broker’s login process begins with a visit to the official site, worldtradexfx.com, on desktop or a click of their app on mobile. To login in, your email, password and captcha verification is needed. Going by customers’ review, worldtradexFx can be said to be unworthy in light of numerous complaints heralding withdrawals, especially on large size accounts. Lastly, low spreads, user customized account types, 0% commissions, fast payouts and a rich educational library are the company’s strong points. Other traders’ positions can be copied automatically or modified.
Trading Fees
- However, for live account types, clients must complete the KYC process before initiating positions or withdrawals.
- Market volatility presents several attractive profit-making opportunities when you use Forex robots, as they provide greater accuracy and speed in trading.
- The MT4 platform offers the highest security standards to protect traders’ funds.
- Various account types on the 3 platforms have different deactivation dates as stated below.
- The Agency believes that by manipulating trading data, the company misled investors and obscured the true nature of its financial activities.
With currency and stock trading becoming more popular and accessible in India, worldtradex is among the many brokerages aiming to respond to that growing demand. Current and prospective users of the trading platform in India might be reassured to know that the worldtradex app has a 4.4 rating on TrustPilot. Operating since 2011, worldtradex has established a hard-earned reputation as a safe and reliable online brokerage and service provider. That reputation has underpinned the company’s dynamic growth in popularity since then, with more than 40 million worldtradex trading accounts now having been opened worldwide. Like any serious brokerage operation, worldtradex offers no guarantees about profits and losses to either its existing or prospective platform users.
Moving forward to real trading
The broker claims to process withdrawals by cryptocurrency immediately but withdrawals with bank payment could take 1-3 hours depending on the processing bank. The custom-built worldtradexFx mobile trading app features a simple yet functional user interface. The respective app versions are downloadable from the Google Play Store or App Store for Android and iOS-based mobile phones. worldtradexTrader offers a fine array of charting tools to allow for a smooth desktop trading experience. From trend lines, to crosshairs, to zoom tools, they offer a broad range for trading optimization.
Scammers using the company’s name to entice unsuspecting traders, however, have differing motivations, and they’ve seemingly helped https://worldtradex.live/ to bring worldtradex’s operations to the attention of relevant authorities in India. Established brokerage platforms like worldtradex, formerly worldtradexFX, now serve millions of users in dozens of countries worldwide and provide a reliable suite of trustworthy services through an easy-to-use app. In order to make your learning process with worldtradex more engaging, we suggest to train on MetaTrader 4 Demo Account to win real money. Register for worldtradex’s long standing Forex Demo Contest, which has a $1,000 prize fund and lasts for a month. To participate in this contest, simply register for a new Demo account. There are prizes of $500, $300, and $100 for the first, second, and third positions, respectively.
Adding additional regulatory licenses in Tier-1 jurisdictions would be a step toward winning more client trust. worldtradex offers the full MetaTrader suite, albeit with a fairly limited offering of tradeable instruments. There’s no question – if worldtradex wants to compete with the best MetaTrader brokers, it needs to make improvements in its range of products and its research and education.
Subsequently, they may show reduced profits or artificial losses in the next month to lower tax liabilities. According to the PC, worldtradexFX reported a profit of approximately USD 14 million in March 2023 under the “Clear Deposit” category, which denotes the profit before expenses. However, in April 2023, this figure dropped sharply to around USD 7.8 million.
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Depending on the market’s volatility, clients can expect to pay a minimum spread of 0.6 pips on trading pairs like GBP/USD and EUR/USD. Commodities like Gold and Silver are on the other hand, tradable on spot for a minimum spread of 1.9 pips and 2.0 pips respectively. We’re helping traders build stronger futures by offering a wide variety of educational articles and Worldtradex scam videos, insights from which can be applied to our unlimited demo accounts. By participating in monthly Champion MT4 Demo Contests, you can win up to $1,000 without making a single deposit.
The MT5 account, also called innovative account, is an account type for clients with trading expertise. Its trading instruments are inclusive of forex, commodities, indices, cryptocurrencies and stocks. Established in 2011 and located in London, worldtradexFx is a forex broker that renders its services to users worldwide.
- On the main page, choose the account you want to withdraw money from and click on the “Withdraw” button.
- Choose from 300+ trading instruments, including shares, commodities, and indices.
- Clients can, on creating and funding an account, find, follow and copy these leading traders at will.
- MT4 can also be accessed via Android, Windows, iOS, and macOS apps.
- You can develop your own set of rules for trade entries and exits with the help of automated trading robots (Expert Advisors), which help avoid instinctual blunders while trading.
Its charting allows users to do analysis just as with a desktop. Its only limitation to client is its small screen resolution, hence, making deep technical analysis somewhat difficult. The document contains a detailed comparison of platform statistics for April 2023 and March 2023. ED has found significant financial irregularities in the operations of the illegal forex trading platform. The agency’s findings reveal an unusual pattern in the company’s profits and trading activities between March and April 2023.
In an official response worldtradexFX said that details such as the software used, profit figures, and internal documents constitute proprietary information. We categorically deny the baseless allegations regarding the use of any data visualization platform to manipulate or misrepresent financial health. Given the sensitive nature of such information, it is contradictory to suggest that worldtradex would openly misuse it to mislead investors or stakeholders. However, they clarified that Tableau is a legitimate software tool, and any misuse is attributable solely to the user’s intent, not the software itself. Open positions of higher volume and support your trades with a 50% bonus. You can also withdraw the bonus after meeting volume requirements.
As the system trades mechanically, based on predetermined conditions, your performance won’t be affected by emotions. Automated trades are also executed much quicker, leading to a decreased chance of slippage. The MT4 platform offers the highest security standards to protect traders’ funds. The client terminal and platform’s servers exchange data secured by RSA digital signatures through encrypted servers. Trading on worldtradexFX generally involves minimal fees, spreads from 0.6 pips. Note that worldtradexFX does not charge users for any deposit or withdrawal.
How to fund your worldtradexFX account with your debit or credit card
According to the worldtradexFx website, the broker does not charge any fee on deposits and withdrawal. They also cover the deposit and withdrawal fees that third parties (like Skrill, Neteller and others) may apply. However, with deposits using bank cards, your card issuer may charge some fee for processing the transactions.
MetaTrader 4 offers advanced charting capabilities to determine entry and exit points with technical analysis, which uses historical price and volume data to help traders make predictions. It’s also possible to open trading orders straight from the chart. MetaTrader 4 (MT4) provides robust technology and high security, helping users trade without worrying about the platform’s stability.