worldtradexFX Review 2024: Is This Forex Broker Legit or a Scam?

If account balances become negative due to Stop-Out, worldtradexFx compensates the account by adjusting the account balance to zero, ensuring the risk is limited to only deposited funds. Most clients with high volume accounts have an adverse opinion about the company. They complain of worldtradexFx being a scam broker, denying them withdrawals and going on to block their accounts. After 324 reviews, worldtradexFx holds a rating of 2.997 out of 5 stars on Forexpeacearmy.

To see the commission that you will pay on a particular Islamic compliant trade worldtradexFX offers a tool to calculate the commission on MetaTrader 4, MetaTrader 5 and the eTrader platforms. The Islamic account can be accessed through all of worldtradexFX’s trading accounts mentioned above. The only thing you will need to do is check the “Swap-Free” box during the https://worldtradex.space/ initial account sign up stage. worldtradexFX does have a reputation in the financial industry for offering one of the best Islami accounts.

While some people praise the broker wholeheartedly saying it’s one of the best online trading brokers, others say it is no scam but is poorly managed. However, there are a good number of posted reviews of people denouncing the broker for withdrawal problems and bad trading experience. Clients can initiate a withdrawal by logging into their trading accounts and clicking on the withdrawal option, visible on the homepage. After clicking on the withdrawal option, next is the selection of the payment methods, and the amount to be withdrawn to get the withdrawal completed. worldtradexTrader offers a fine array of charting tools to allow for a smooth desktop trading experience.

As for education, I found worldtradex provides a consistent stream of webinars with professional traders through a live trading session aimed at all levels. You can experience an “over the shoulder” session with a trader which is helpful to get professional feedback on current market events. I found the account opening process to be rather straightforward where you complete an application filling your personal details and choose the platform you wish to work with. In my case it was the MetaTrader 5 platform, however, I found that once your account is open you can select different platforms from within the dashboard. In addition to traditional platforms, I did find that copy trading is available through the worldtradex Copy platform giving you an alternative approach to leveraged products like forex and gold.

• So, if you’re a beginner, why not give yourself a leg up before going head first into the world of trading?
• I like that you don’t have to fill out a questionnaire for support, you are taken directly to help in the form of AI.
• However, clients can choose their preferred virtual balance of the account in order to dictate the pace of their learning process themselves.
• worldtradex (formerly worldtradexFX) offers a basic, low-cost MetaTrader platform experience alongside its proprietary web and social copy-trading platform.

However, after testing I found the platform covered the top indicators like volume and moving averages along with Fibonacci retracement tools. With worldtradex being an ECN broker, I found MetaTrader 5 can utilise its advanced features like depth of markets tool for you to analyse market order flow. This is a great tool if you scalp or day trade as you can use the data to find hidden support or resistance while helping you spot breakout trading opportunities.

Processing Times

Upgrading to a live account requires a bit more leg-work but is by no means arduous. Payment options include VISA, AWEpay, bitcoin, FasaPay, local bank deposits, local bank transfers, Neteller, Paytm, Skrill, UnionPay. All of the platforms on offer are well regarded in the trading community. The MetaTrader suite of services is the most popular globally due to the blend of features it offers, and the worldtradexTrader platform is developing a following of it’s own.

The firm has expanded its reach successfully with its combination of low fees, responsive customer support, and advanced technology. Today, the firm serves customers across 100 countries, and has opened up around 300,000 accounts with an impressive daily volume of $4bn. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website.

worldtradexFx Review 2025: Platforms, Apps, Safety, Pros & Cons

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). Minimum deposits at worldtradex will vary depending on your country of residence and your chosen payment method. They can go as low as $25 (USD) when funding with Visa/Mastercard, to 50 euros (EUR) when using Skrill/Neteller to as much as 500,000 Indian rupees (INR). It’s important to note that minimum deposits and trading costs will also depend on which worldtradex entity you choose for establishing your trading account. A review of the broker’s trading instruments reveals that users are allowed to trade over 120 stocks. 74% of clients give the broker a 5 star rating, cementing its place as one of the best https://worldtradex.world/ forex brokers.

Deposit Methods

The trading interface of the mobile app is quite basic, yet it is functional. It is divided into quotes; market data, chart, trade and history. 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. This broker charges no fees on currency conversion during deposits and withdrawals.

The range of deposit methods is decent, covering traditional, e-wallet and crypto, giving you a great choice of how to deposit (and withdraw) with no fees. I’d like to have seen an option for bank transfers as I feel most secure about this process. However, worldtradex has e-wallet options through Neteller and Skrill were also a positive as they also provide instant funding like the Mastercard option. It is regulated by the FSC in Mauritius, the Mwali International Services Authority (MISA), and CySEC for European traders. The broker has also been operating for 12 years, which is a strong signal of safety in my book.

During our testing, we confirmed that no swap fees are charged for maintaining open positions not only overnight but also during the weekend for several days. Additionally, the app allows users to view the history of each operation, including changes made to orders, with great clarity. In our review, the execution quality was positive across all accounts. Entry and exit orders were executed as intended, with only minor slippage observed.

It should be noted that traders in the U.S. are restricted from opening an account with worldtradexFX due to strict U.S. regulations enforced by the CFTC and NFA. During our own testing, we found the average ‘first response’ time to be greater than the seven seconds claimed on the firm’s site. In fact, in only a handful of instances did the response time beat the seven second figure. In over 96% of cases, our queries were processed to the point of satisfaction on the first interaction.

Like the MT4 platform, this platform allows you to trade on a computer, and mobile, either on iOS or Android. For example, the winner of the Champion demo contest will win $1,000 which will be credited to your account. The weekly cTrader competition is a draw with a prize of $400 for the lucky winner.