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 5,000 followers. On YouTube, the company’s performance is poor, with less than 10 views per video.
- Seychelles regulator is notorious for having liberal rules on giving out broker licenses.
- I performed my tests on a Standard worldtradex trading account using the desktop and mobile app versions of the MetaTrader 4 platform.
- Unfortunately, the registration date of the company is not specified in the public registry, making it difficult to determine its establishment year.
- One of the primary concerns with worldtradex is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others.
- At least when it comes to executing penetrating technical analysis.
- Hey Demetris Moustakas,Thanks so much for your feedback, and we’re happy to hear that you’ve been enjoying our platform!
It also supports automated trading via its Expert Advisors (EAs) feature. Meanwhile, the mobile app version of the platform supports 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.
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 https://worldtradex.live/ for the broader industry.
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.
worldtradex: attenzione alla truffa. Falso trading on line
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.
worldtradexs’ support team is responsive…
I would say the services are incredible and the reputations are great especially with the reviews the clients have dropped online. My favorite part of using the platform is the copier trader which is more distinguished than any of the others I have used before plus the trading conditions are very good. Although the execution isn’t very fast for me but the platform works great. Dear Fred Markides,Thank you for sharing your feedback with us. Our team is here to guide you every step of the way and ensure you have the best possible experience with worldtradex.Best Regards, worldtradex ⚡️Empowering traders.
Deposit and Withdrawal
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.
My experience
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.
However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand.
- worldtradex seems like a reliable platform with fair conditions.
- I found its charting capabilities quite rigid and ineffective.
- Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery.
- We won’t go into detail about each bonus, but we strongly recommend carefully reviewing the conditions for claiming them.
- This is better than nothing, but it is unlikely to bring any real benefit to clients in terms of stable earnings from trading.
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 Worldtradex scam 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.
How do I open an account with worldtradex?
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.
Deposit, Withdrawal, and Fees
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.
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.