Home > Forex Trading > worldtradex Review 2023 Are they reliable for South African traders?

worldtradex Review 2023 Are they reliable for South African traders?

Whether you’re interested in currency pairs, precious metals, or major stock indices, worldtradex delivers a robust trading environment tailored to your needs. MetaTrader 4 (MT4) is a popular trading platform used by both novice and experienced traders. It offers advanced trading tools, fast execution, and a user-friendly interface for trading forex and CFDs.

The broker has a good choice of over 300 tradable assets, a variety of account types, spreads from as low as 0.0 Worldtradex courses scam pips and excellent support in over 30 languages. First, log into your worldtradex trading account and navigate to the Deposit section. worldtradex supports various deposit methods, including bank transfers, credit/debit cards, and popular e-wallets like Skrill and Neteller, providing flexibility for traders. Choose your preferred method, enter the amount you wish to deposit, and follow the prompts to complete the transaction. The processing time for deposits depends on the method used, with e-wallets and cards typically offering faster transactions than bank transfers.

Q: What is the Institutional account?

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. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have traded with worldtradex we would really like to know about your experience – please submit your own review.

Customer Reviews

Compare the markets and instruments offered by worldtradex and its competitors. Please note, some markets may only be available via CFDs or other derivatives. Compare worldtradex with the top 3 similar brokers that accept traders from your location. Welcome bonuses are available at worldtradex when you register for a new account.

Review Methodology

I like how they have strict regulation in multiple jurisdictions and are well respected within the industry. The high quality of their services has been acknowledged by the numerous international awards that they have won over the years. If you are looking for a reliable trading broker with everything that you need in once place and much more, worldtradex are a top choice.

We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points. I think there is more than enough for everyone to find something that they would like to trade. You can choose from a great variety of trading platforms with low pricing and fast execution speeds. worldtradex provides competitive spreads starting from 0.0 pips for STP/ECN accounts and floating spreads for other account types, giving traders a clear idea of potential trading costs. Standard, Premium, and VIP accounts do not charge any commissions, which can benefit traders looking to maximize their trading efficiency without extra costs.

Learn to Trade

  • With options like courses, seminars, webinars, and podcasts, traders of all levels can benefit from expert insights and knowledge.
  • This shows strong business ethics and a responsible corporate attitude by supporting community development.
  • The Battle of Traders and various deposit bonuses add excitement and potential for financial gain.
  • worldtradex is the trade name of Notesco Limited, a company registered in Bermuda and headquartered in Cyprus.
  • The broker offers industry leading products and services that I think can be a great option for retail and institutional clients alike.

The Absolute Zero Account is an STP account and has no commissions on trades. The minimum deposit required for this account is $500 and once again, clients can register SD, EUR or JPY as their base currency. worldtradex offers several trading platforms, available for PC, Mac, and mobile devices. The options include the popular MetaTrader 4 and the Personal Multi Account Manager but the broker does not have a proprietary software platform. This may be a weak point for the broker but it should not bother traders, especially since MT4 is familiar to most of them. As a trader, I’ve had the opportunity to explore the various account types offered by worldtradex Global, a leading online trading platform.

worldtradex does not charge deposit fees, but payment providers may apply their own fees. For the Micro Account, the minimum deposit starts at $100, which is ideal for beginner traders or those looking to start with a smaller investment. For more advanced accounts like the Premium and VIP Accounts, the minimum deposit increases to $1,000 and $10,000, respectively, catering to traders with higher capital. This range of deposit options provides flexibility for different trading styles and goals, making worldtradex accessible for both novice and experienced traders alike. worldtradex offers access to trade a decent amount of around 300 trading instruments across multiple markets including Forex, Commodities, Futures, Stocks, Shares, Indices, Metals, Energies & CFDs.

However, this type of account is offered only to traders who make deposits of $10,000 or more and have the US dollar (USD) as their base account currency. Things are different for silver and platinum – silver is still traded for industrial purposes, as platinum, which is also much rarer than silver or gold. With tight spreads as low as 0.04 and 1% margin requirements, worldtradex offers its clients a great opportunity to profit from the global gold and silver markets. The spreads on platinum and palladium are, of course, higher since palladium is not only 30 times as rare as gold but also more valuable than gold. Processing times depend on the geographic location and the payment processors, which worldtradex lists as between one and ten business days.

worldtradex offers an extensive choice of Contract for Difference (CFD) instruments. The broker’s wide range of CFDs include those based on an extensive list of forex pairs, in addition to commodities, indices, futures and over 100 individual stocks. If you are new to trading online, then you will be pleased to find a demo account option. This can be the perfect way to get used to using the platforms and for testing your trading strategies in a risk-free environment. This is not something exclusive to this broker, you will find most have a demo account available. If you are looking for the smallest possible spreads (starting from 0 pips), then you may consider the zero spread accounts.

  • All base currencies can be registered and Premium Account holders will enjoy no commission on trades.
  • It is actually quite rare to find a broker that has fixed spread account which is often a choice for traders who are running scalping strategies that need consistent spreads at all times.
  • Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.
  • There is a wide range of stock, commodities and futures available for trading.

Its really hard to do a thorough overview of all the features offered by the broker in our worldtradex review, but we will try to touch the most important aspects of the experience. In the UK, worldtradex offers the choice of four account types in multiple base currencies – Micro, Premium, VIP, and Zero fixed. Besides, you can also choose between no commissions, zero spread and absolute zero accounts.

Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money. The accounts of EU traders are protected up to EUR 20,000 via the Investor Compensation Fund (ICF) of Cyprus. Broker provides its customers with standard contact options on its website that can be used to make general enquiries and get support on technical issues.

Are there any fees associated with deposits and withdrawals?

Yes, spreads are indicative and can widen during volatile market conditions, particularly during the night trading session. Yes, worldtradex offers high-quality market research conducted by a professional team of experts and market analysts to help traders make informed decisions. TradeCopier allows users to automatically copy the strategies of top-performing traders. This is beneficial for beginners or those with limited time, and successful traders can earn performance fees by allowing others to follow their strategies. They are designed to enhance your trading capacity, but all trading carries risks, including the potential loss of capital. worldtradex employs advanced security protocols to protect client data, privacy, and funds, ensuring a safe trading environment.

ForexBrokers.co.za is a broker comparison & education website for South Africans. Read our full review based on comparison of worldtradex’s trading fees, spread, support promptness and 7 other factors which are important to decide whether to trade with them or not. Most educational resources provided by worldtradex are available for free, making it accessible for all traders looking to improve their understanding of the markets.

TradingPedia.com will not be held liable for the loss of money or any damage caused from relying on the information on this site. Trading forex, stocks and commodities on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The Premium Account is for traders who can afford to deposit at least $1,000. All base currencies can be registered and Premium Account holders will enjoy no commission on trades. The other alternative is to use the Personal Multi Account Manager (PMAM) but it is available only to professional traders and money managers.

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