It’s fine if you want a no-fuss trading experience but seriously lacking in the research tools, analysis features. worldtradex works very well for intermediate and advanced forex day traders seeking high leverage and tight spreads from a ‘frill-free’ broker. Still, worldtradex has done well by providing an attractive, affordable and simple account option for day traders who will appreciate having no trading restrictions or minimum deposit requirements.
Is worldtradex A Regulated Broker?
As previously mentioned, the leverage you need depends on what style of trader you are and the overall technique you use. worldtradex group accepts clients from all over the world, excluding USA and some other countries where restrictions apply. Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. But there is 0 dongs and whistles, so, again, not everyone might like it.
Crypto Exchanges
Furthermore, increasing the amount of money you can earn per transaction increases the efficiency of the way your capital is used. So let’s get a bit more technical here; think of your capital to deliver a return. Simply speaking, leverage has an enormous impact on capital efficiency, resulting in greater profits in the short term and a more substantial return on investment over a much shorter period. worldtradex is a low-cost brokerage with no commissions and spreads that are generally competitive, especially on currency pairs. This app comes equipped with sophisticated charting tools, including 30 technical indicators, 9 different timeframes, and 3 varieties of charts, ensuring a comprehensive trading experience.
Things to Know About Leveraged Forex Trading
Another big downside is the lack of web trader compatibility, which I find convenient because it provides straightforward and fast market access. This is low compared to many brokers, but it’s still a downside since rivals like Vantage charge nothing, making them a better fit for casual traders. I really like the ‘average spread tool’ available on the broker’s website which displays fees over recent trading sessions. This is a rare feature that you don’t see at many rivals, and a promising sign of transparency. In our https://worldtradex.space/ experience, the 0.2-pip average spread on EUR/USD is far tighter than most commission-free accounts, which regularly charge 1 pip or more for this major pair.
Also, the offshore regulation for non-EU traders and expensive withdrawal fees are notable drawbacks. Although some brokers like Vantage offer a similar service with less stringent qualifying criteria, worldtradex’s VPS, combined with its excellent pricing, will appeal to high-volume traders and algo traders. These combine well with worldtradex’s free forex VPS, hosted by BeeksFX, which is available to traders who deposit at least $2,500 and trade at least 30 lots per month.
- If an investor buys $100,000 worth of EUR/USD, they might need to keep $1,000 in the account as margin; the margin requirement would be 1%.
- Forecasting the rise or fall of the price, he opens a long or short trade.
- For customer service needs, all worldtradex clients are welcome to contact the broker via either live chat, email or phone (a Cyprus phone number for EU users and a UK number for international users).
- CySEC is a top-tier regulator that helps ensure worldtradex follows strict business standards and implements safeguards like negative balance protection and segregated client funds.
- It’s cool that I can manage other accounts using this broker with the multi-account managing feature.
However, the selection falls short of the comprehensive educational offering available from best-in-class brokers like eToro, limiting the brokerage’s appeal to beginners. Similarly, the ‘Market Analysis’ section had a focus on just three currency pairs during testing which is not wide enough in my opinion. worldtradex’s limited research and technical analysis tools are disappointing, especially given how useful these tools can be for discovering trading opportunities. Besides the very frustrating withdrawal charge, worldtradex’s non-trading fees include a $5 inactivity fee charged after 120 days of dormancy. worldtradex runs bonus offers in certain jurisdictions, and when I opened an account with the global entity I was offered a 100% deposit bonus up to $2000. Withdrawals at worldtradex are also disappointing, with all methods besides cards and wire transfers incurring a percentage withdrawal fee that can reach a hefty 3.4%, depending on the method.
Are there any specific benefits to leverage, and how does it make sense for forex traders? We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. It is safe and has the necessary security tools in place, and also has a lot of good trading conditions. However, traders seeking stocks or deep education and market research will need to look elsewhere.
A margin call is what happens when a trader runs out of free margin. If there is less amount deposited than required under the terms of leverage, open trades in Forex are automatically closed. This is a mechanism that limits the loss and traders do not lose more than their deposited amount.
Is worldtradex A Good Broker For Day Trading?
For me it was worldtradex, simply because theire is no bull@it here. That said, the bonus could not be withdrawn, and if your account balance reaches below 50% of the available bonus credit, the amount will be removed. The sign-up process is also pleasingly simple and there is a swap-free solution for Muslim traders available upon request. That said, this broker does implement negative balance protection across both EU and offshore entities, unlike alternatives such as Fusion Markets.
Ordinarily, we prefer to see a choice between a commission-free account (geared towards beginners) and one with raw spreads and low commissions (geared towards advanced traders). However, worldtradex has outdone many competitors by offering the kind of tight spreads you’d expect from ECN accounts without charging a commission. Here is a chart that illustrates how price movement in terms of pips is relative to the 3 basic sizes of trade positions.
The leverage you use, or need will also vary depending on the overall technique you employ. Your method and strategy might be relatively high in terms of risk versus reward. Therefore, you’ll need more leverage and keep more margin in your account to execute and stay in your trades. In contrast, a swing trader will probably take on more risk because their overall position size is greater; while the scalper’s risk per trade might be $50, the swing trader might risk $500.
Margin could be regarded as a safety net, for both traders and brokers. As is the case with many forex brokers, the only trading platform that worldtradex’s https://worldtradex.site/ clients can use is the MetaTrader 4 (MT4). However, this remains probably the most popular platform in the world today among retail forex traders.