The MT5 account, also called innovative account, is an account type for clients with trading expertise. Its trading instruments are inclusive of forex, commodities, indices, cryptocurrencies and stocks. The broker has its proprietary trading platform known as worldtradexTrader, which operates on web and mobile versions. In addition to this, worldtradexFx is one of the MetaTrader 4 brokers and also offers the MetaTrader 5 platforms to traders. MT4 and MT5 are the gold standards when it concerns automated trading solutions. To access the full range of the broker’s offerings and functionality, clients can use any of the 3 trading platforms that are available as apps for mobile and on the web.
The platform also has 38+ indicators featuring Ichimoku and RSI, while increasing the number of timeframes to 21 for better customisation. Additionally, you have excellent drawing tools for price action analysis like Fibonacci or Gann tools which I couldn’t find on the worldtradexTrader platform. The CompareForexBrokers team created a trading platform selector so you can work out what trading software best matches your trading needs. I recommend you complete the short 5 step questionnaire which will help you determine your most suitable forex platform. If you want to see how worldtradex’s spreads compete with other Malaysian brokers, I created a simple trading cost tool that you can use. Even at 0.90 pips, I found it’s roughly 18% cheaper than my industry average tests of 1.11 pips for EUR/USD, positioning worldtradex as a low-spread broker.
The term leverage is the ability to have access to added funds – margin – when trading financial instruments. Although increasing your margin could boost your market exposure, it also raises your vulnerability to losses. The spread for all available currency pairs offered by worldtradexFx – including major, minor and exotic pairs are listed in the table below. worldtradexFx offers 33+ forex pairs, inclusive of majors (the EUR/USD pair, GBP/USD, USD/JPY), minors (EUR/GBP, GBP/CAD, AUD/CAD) and other exotic pairs. Clients are allowed to trade their favorites, and at that, with low spreads.
A wide variety of educational content is available for worldtradex users under the ‘Traders’ Tools’ section. The MetaTrader platforms are well known for facilitating copy trading and developing trading forums. Clients of worldtradex are able to engage in the Expert Advisor and MQL5 areas of the MetaTrader site. With trading costs being a significant determinant of success or failure, the broker is right to emphasise what a help this could be.
MetaTrader 4 for Android
I found the signals to clearly demonstrate the trading idea and the market commentary is a nice touch to help explain the move. I also found an interesting feature called Spaces where you can customise an area with trading alerts and real-time news announcements. MetaTrader 4 is a great option if you use custom indicators or strategies as it provides the MQL4 library which you can use to create bespoke strategies. If you lack the programming skills, the MetaQuotes Marketplace provides a library of 10,000+ custom indicators from the MT4 community you can use.
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. Join a vibrant community where you can share strategies, follow experienced traders, and learn from others in a collaborative space.
There is an economic calendar, daily analysis posts, as well as trading signals and market insights. The videos are supported on YouTube, and much of the content is archived. worldtradex offers 5 crypto markets like bitcoin, ethereum and litecoin — this is a limited range. On the upside, those markets that are available are traded using the MetaTrader platforms, so at least the quality of service is guaranteed to be high.
For withdrawal requests, the processing time is almostinstantaneous and validated through an email. This account is meant for those with a goodunderstanding of Forex and a willingness to invest for larger profits. Thisaccount offers the lowest spreads which allow for the maximum length of tradeoptions.
TF expert suggestions
worldtradex has 52 forex pairs for CFD trading including forex majors like USD/JPY, AUD/USD, and EUR/USD as well as minor and exotic pairs. I did find that you can only access all 52 pairs using the MetaTrader 5 platform, while the worldtradexTrader and MT4 only offer 32 pairs. Overall, the account opening process took 3 minutes which is the fastest application I have completed for opening a live trading account. The deposit options with worldtradex are decent, giving you multiple ways to fund your account with no deposit fees. The only traditional method available was Mastercard (debit card) which I used to fund my account and was instantly applied to my trading account after making my deposit.
The MT5 account offers a wider range of markets than the MT4 account and there are no swaps. Before deciding to trade in any kind of financial market or financial instruments, you should carefully consider your investment objectives. Participating in financial markets involves high risk, which can result in the loss of part or all of your investment. worldtradexFX is a financial broker with more than 40 million accounts opened on it.
MT4 Account
Additionally, Orinoco Capital (Pty) Ltd. holds a Financial Service Provider (FSP) license number from the Financial Sector Conduct Authority (FSCA) in South Africa. It is also regulated by the Financial Services Commission Mauritius (FSC) and Mwali International Services Authority (MISA) for non-EU clients. The profile for each trader was more detailed showing profit and loss, drawdown, and copy Worldtradex company reviews follower growth which I like to use as a leading indicator of trader performance. You also have a track record of the trader’s order history, giving you a transparent insight into the trader’s performance. MetaTrader 5, and worldtradexTrader giving you a decent choice for personalising the way you can trade with the broker.
This is an impressive feature if you’re new to trading due to the constant flow of trading ideas with detailed market commentary that will help you learn in real time. Plus, you can fine-tune the Space by choosing specific instruments only to receive these ideas from – in my instance, I chose USD/JPY, gold, and EUR/USD. 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. It is regulated by the FSC in Mauritius, the Mwali International Services Authority (MISA), and CySEC for European traders.
worldtradexFX is one of the very few Forex brokers that offer local deposit options in countries like Indonesia, Pakistan, Malaysia, Thailand, India, Vietnam, and Nigeria. Traders in these countries can simply go to a local bank and make a deposit to their Forex accounts with worldtradexFX. Moreover, worldtradexFX offers live chat support on its website from Monday to Friday during active trading hours. We found that the best way to get a fast response from worldtradexFX is by contacting them on the online chat as the company promises high priority immediate response through this channel. worldtradexFX also offers free demo accounts and we are happy to report that these demo accounts have no set expiry date. However, if you leave the demo account inactive for 60 days, worldtradexFX will deactivate it.
A Platform That Prioritizes the Trader
Electronic access and communication is also protected by a ‘SSL-secured Personal Area’, which has 128-bit encryption, and makes your browsing safe and your data inaccessible to any third parties. worldtradex gives high priority to the ‘Analysis and Education’ section of its site. The ‘Forex Basics/Technical Analysis’ library, for example, contains a step-by-step guide to support traders that are getting into trading. This guide ranges from a glossary of the basics to videos on the important question of which time frame to adopt. Platform choice ultimately comes down to personal preference, but worldtradex has signalled its intent by offering its clients the choice of two market-leading platforms.
- Some of the best forex trading apps in India include Zerodha Kite, Upstox, and Angel One for their user-friendly interfaces and strong features.
- The referral program known as Invite-a-Friend has its commission rate to be 1$ per 1 standard lot.
- It has management systems that ensure that clients do not lose more than initially invested.
- The mobile app offers a wide array of tools and indicators ranging from trends, to oscillators, to volumes and lastly bill Williams.
- You can choose from a range of available indicators, download a custom indicator, or create your own.
- Customer service at worldtradex is through live chat or a support email address, which is a slight letdown as I prefer when companies offer phone support for urgent questions.
Trading Fees
All of these three accounts have virtually no minimum deposit requirements. But, based on which account you open, worldtradexFX recommends different amounts that you keep in your account. worldtradexFX basically offers two types of trading options – spot market trading and contract for difference or CFD trading.
When is the support team at worldtradexFX available?
- Most of the trading tools and indicators offered via the desktop version are readily available on the mobile trading app.
- Upgrading to a live account requires a bit more leg-work but is by no means arduous.
- Both social and copy trading is well provided for at worldtradexFX through their own proprietary copy trading service.
- One way in which worldtradex leads the sector is its willingness to share data on its own operations.
- worldtradexFX provides well in terms of language choice to traders, though there is a clear focus on the Asian market when it comes to available languages.
The minimum spread users can expect to pay on any trading instrument at any given time is 0.6 pips. The broker claims to process withdrawals by cryptocurrency immediately but withdrawals with bank payment could take 1-3 hours depending on the processing bank. You can access the broker’s copy trading service by downloading the copytrading app.
worldtradexFX is a global online forex and CFD broker established in 2011, offering trading services across various financial instruments, including forex, commodities, indices, and cryptocurrencies. The broker provides access to popular trading platforms such as MetaTrader 4, MetaTrader 5, and its proprietary worldtradexTrader platform, catering to both novice and experienced traders. worldtradexFX is known for its competitive trading conditions, featuring tight spreads starting from 0.6 pips and a minimum deposit requirement of $25, making it accessible to a wide range of traders. The MT4 account, also called traditional account, is an account type used by new and experienced traders alike.