Well, it’s to make sure you are who you say you are, and that you’re legally allowed to trade forex. Now, here’s the kicker for us – Worldtradex does offer some INR-paired options. This is handy if you want to trade directly with our home currency. We have compared the range of assets and markets supported by Worldtradex with its competitors, making it easier for you to find the perfect fit. Worldtradex received a Medium score for the efficiency and convenience of its deposit and withdrawal processes. Worldtradex has a safety score of 4.9/10, which corresponds to a Low security level.
The WorldtradexFX app is also available for traders to download and practice convenient trading from anywhere in the world. The WorldtradexFX trading app is supported on iOS and Android; simply go to the website and navigate the trading platform space. Log in to your online trading account or download the app and launch it to start trading. Overall, with WorldtradexFX withdrawals being processed almost immediately and expected to be received within a maximum of hours, you have a lot of flexibility in balancing your account.
The trading and non-trading commissions of broker Worldtradex have been analyzed and rated as Medium with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, Eightcap and Worldtradex Group, to provide the most comprehensive information. What strikes me about WorldtradexFX is their emphasis on trader training. Their tutorials and webinars helped me a lot when I was learning the basics of trading. I’ve also had good experiences with their customer service – they’ve always responded promptly when I’ve needed help. If I had to quibble, I’d say they could add more trading instruments.
Although the WorldtradexFX minimum deposit remains the same in value, the broker does not operate accounts in Nigerian Naira, South Africa Rand, Malaysian Ringgit, or Indian Rupee directly. You have the choice to decide between either USD or EUR but it is still important to consider what those deposit levels equate to in local currency. There are in excess of 4500 Master Traders listed on the WorldtradexFX Copy Trading platform so the number accepting lower levels of balances is considerably fewer. The account types that WorldtradexFX offer are called Micro, ECN, and Pro and they can be easily operated in USD or EUR.
What Deposit methods does Worldtradex have on offer?
- Upon approval, the funds will be deposited into your Worldtradex account.
- We have highlighted the popular payment systems and noted those supported by Worldtradex, along with the typical time required for transaction processing on the system’s side.
- WorldtradexFX only covers the fees applicable to the payment system here, also by paying a much lower fee.
- This allows traders to easily get started and choose an account that fits their needs.
- This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
After a thorough analysis of the broker, we have concluded that the broker is one of the best brokers for forex and CFD trading in the market. It offers not only a wide range of trading asset platforms but also additional perks like deposit bonuses, SSL security, negative balance protection, and more. Moreover, the broker is highly regulated under two top-tier financial watchdogs, including CySEC and FSA, making the broker platform a reliable place to trade. I’ve been using WorldtradexFX for some time now, and what I particularly like is the simplicity of the whole process.
- Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.
- The variety in payment methods is strong, albeit it would be nice to have more options for local currency operations if the broker intends to grow its’ presence in the above mentioned Countries.
- Between 74-89% of retail investor accounts lose money when trading CFDs.
- Opinions, market data, and recommendations are subject to change at any time.
What are the spreads on Worldtradex accounts?
From my experience, they’re a solid choice for both newbies and more seasoned traders. Sure, they’re not perfect (who is?), but they’ve proven themselves reliable over the years. One thing to note – I couldn’t find many testimonials specifically from Indian users. But in my personal experience and from chatting with other traders, the general feedback has been positive.
Trade247 Review
Worldtradex offers a quick, secure, and cost-free deposit and withdrawal process with multiple popular payment options. With no fees, fast processing, and a variety of payment methods, Worldtradex provides a seamless experience for traders to fund and withdraw their earnings securely. It’s important for Forex traders to be aware that deposit methods can incur additional fees that cut into trading capital. According to a survey, over 30% of traders reported losing 1-3% of their initial deposit to transaction costs. The Worldtradex platform offers various deposit options, each with their own fee structure.
WorldtradexFX Minimum Deposit Recommendation
WorldtradexFX offers benefits like negative balance protection and no commission and interest charges in the Islamic account. You can access an Islamic account through any provided account type and open your account easily through the broker website. Traders must choose their specific WorldtradexFX trading account if they have multiple accounts, their desired payment method, and their preferred deposit amount. Traders should enter their account details within the WorldtradexFX back office. Therefore, WorldtradexFX will convert non-supported currencies and may either levy a currency conversion fee or internal markup on raw market spreads. In stark contrast, this traders’ from WorldtradexFX Malaysia minimum deposit stands at more than $1,000 and they have 0 copiers at this time.
Seems like a pretty standard thing these days.The minimum withdrawal amounts are all over the place too. Five bucks with Skrill, but gotta have a whopping $350 for a bank transfer in India! At least they tell you upfront how long it takes – one to three hours to process, which sounds okay.
Consider both immediate costs and frequency of planned deposits. For example, if making regular small deposits, a low fixed fee method may be more economical than percentage-based fees. By choosing the most cost-effective option, more money can go towards actual trading versus transaction costs, potentially boosting overall performance on the Worldtradex platform. Internal deposit times can be instant or take up to three hours, even for bank wires, which Worldtradex has optimized with its deposit notification process. Worldtradex sends a notification once it credits the deposit to the Worldtradex trading account.
Meta Trader 5
Your money will be converted to USD because their account’s base currency is in USD. Traders will conduct all financial transactions via the secure and user-friendly Worldtradex back office, which requires an account application. Clients get access after submitting their name, e-mail, and desired password. Worldtradex will send a verification and confirmation e-mail during the process. The deposit and withdrawal for WorldtradexFX are commission-free, and most of the payment options are instant, but some might take 30 mins to 1 hour.
During account creation, you can only use USD as Worldtradex official site base account currency. However, you may deposit to your account using KES on Worldtradex and the funds will be converted to the based currency of your account. Overall, the minimum deposit on Worldtradex in Kenya depends on the payment method you are using. One thing to note – none of these are regulated in India, which is common for forex brokers offering high leverage. But always remember – forex trading carries risks, no matter the broker. Start small, use stop-losses, and never invest more than you can afford to lose.
This indispensable resource, replete with substantial virtual capital, is accessible to traders based in South Africa. Furthermore, this account type frequently includes increased support services, which provide traders with rapid advice and direction. Only three account types are available at Worldtradex, and none have ZAR as the base currency. Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for https://worldtradex.blog/ all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources.
