And on top of that it doesn’t charge additional commissions for that. It’s cool that I can manage other accounts using this broker with the multi-account managing feature. It has very flexible settings so that I’m not bothered about the deposit amounts of my clients. Since I have several of them, and each one has his own funding capabilities. Set up with offices in Cyprus and Vanuatu, worldtradex is a forex broker founded all the way back in 2010.
Leverage magnifies the returns from favourable movements in a currency’s exchange rate. Forex traders must learn to manage this force and employ risk management strategies to mitigate potential forex losses. The main thing that separates these accounts is the minimum deposit required to use them, and the number of instruments that can be traded. Information on the TopForx.com website is for informational purposes only and does not constitute any motive or suggestion for visitors to invest money. Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk.
- Over 200 data points are considered, from minimum deposits and trading fees to the platforms and apps available.
- worldtradex group accepts clients from all over the world, excluding USA and some other countries where restrictions apply.
- Close to $5 trillion worth of currency gets exchanged each trading day.
Reviews from traders
Wire transfers incur a $30-$45 flat fee (minimum limit of $500), many times more than the $5 withdrawal fee at eToro. Importantly, all deposits are fee-free, and e-wallets like Skrill and Neteller process within an hour, compared to 5-7 working days for wire transfers. On the surface, this is an ideal offering that provides the best of both worlds, though in practice we found some instruments pricier than others, so you shouldn’t expect superior pricing across the board. Once you take the leverage on offer from your broker, you must meet the obligation of this liability.
worldtradex has earned a good score for its fees due to the tight ECN spreads combined with no commissions, an unusual pricing model that places this brand among the cheapest forex brokers we have reviewed. worldtradex’s investment offering is excellent for forex traders but weak in other departments. worldtradex offers a decent selection of payment methods including standard card and wire transfers as well as crypto and e-wallet solutions. This is a convenient range and I was especially happy with the inclusion of crypto payments as these are highly flexible and should work for traders based almost anywhere. If the underlying currency in one of your trades moves against you, the leverage in the forex trade will magnify your losses. Losses can end up massive, and profits can shrink with forex leverage.
Accounts & Banking
One of this platform’s biggest advantages is its support for automated trading via Expert Advisors (EAs), which have long been favored by algorithmic traders and which we feel are yet to be surpassed. This long-time industry favorite is starting to show its age after decades since its release, and we prefer for brokers to offer a selection of platforms with newer and slicker options, especially for beginners. On the downside, worldtradex supports accounts in just a few currencies (USD, EUR, GBP), with USD only for wire transfers.
Fees & Costs
According to the statistics, 75-89% of customers lose the funds invested, and only 11-25% of traders earn a profit. I use worldtradex for forex trading and have been impressed with the huge range of currency pairs, transparent fees and reliable MetaTrader 4 platform. I think the client dashboard and website could do with an overhaul though – they are pretty dated. worldtradex enhances the mobile trading experience by offering the MT4 application, compatible with iPhone, iPad, and Android devices, ideally suited for day traders.
Additionally, the platform offers interest rates from global central banks. worldtradex provides free VPS (Virtual Private Server) access for stable, fast, and high-performance trading. This dedicated server can handle multiple platforms and accounts, run automated programs, and ensure smooth trading https://worldtradex.space/ operations.
As most retail-oriented forex brokers, worldtradex operates on a ‘no dealing desk’ ECN/STP https://worldtradex.site/ model where orders are passed on to larger liquidity pools rather than being matched internally. This trading method can also exacerbate losses and involve additional risks. Thus, we conclude that it is quite hard to enter the real market without knowing the features of Forex. Free margin is calculated as subtracting the used margin from total margin. Compare worldtradex with the top 3 similar brokers that accept traders from your location. We have not experienced any security concerns during our many hours using the trading platform.
Compare Trading Instruments
But brokers in the EU must abide by specific guidelines laid down by ESMA, a subject we’ll cover in more detail further on. If you do not go into details, Forex margin is simply the extent of buying power that a broker provides you against your deposit. So they can risk a relatively small deposit but buy a lot, which otherwise would not be affordable for them. The margin on Forex is an important topic for novice traders.
Looking at the negatives, the coverage outside Europe, while fairly industry standard is disappointing, with the global entity registered in Nevis as an International Business Corporation (license number C55272). For example, 10 pip move of a micro lot will amount to $1 and 50 pip move of a micro lot will amount to $5. For example, 10 pip move of a mini lot will amount to $10 and 50 pip move of a mini lot will amount to $50.
In summary, a situation where a margin call might occur is due to use of excessive use of leverage, with inadequate capital, whilst holding on to losing trades for too long, when they should be closed. Leverage can help you to squeeze profits out of FX trading when volatility is low. Even minor price differences and small movements can result in gains if you apply leverage power with care and skill. Your broker will then instruct you to increase the capital in your account and recommend what the leverage limits are on the transaction you want to make. You can apply different leverage levels up to your broker’s limits by selecting from a typical drop-down menu on a platform. The broker will have automatically programmed their platform to help you in this process.
The basic idea of leveraging in forex trading is that; retail traders’ funds are too small to partake in the buying and selling of financial assets or forex pairs. Therefore the broker provides leverage by lending its trading capital to traders in the form of varying leverage ratios as a means to enhance its trader buying and selling capacity. This, therefore, implies that it doesn’t matter how good, profitable and consistent a trading strategy might be. A broker needs to ensure that the trade or trades the trader is taking in the market place, are covered by the balance in their account.
worldtradex is also registered in 26 European Union countries under the Markets in Financial Instruments Directive (MiFID). You can see the margin, free margin and margin level in the account terminal window. This is the same window where your balance and equity are shown. Trading with leverage has the first and most important benefit of earning more money for less work. Leverage is a financial tool that maximises your profit from each transaction by multiplying the stakes, regardless of your trading instrument or how much you’re staking.
However, some FX specialists like Forex.com offer thousands of additional instruments, so it’s disappointing to find just 27 non-forex assets on the worldtradex platform. Recall that price movements are measured in pips and each pip move in a standard lot represents 10 units per trade. Take, for instance, Trader A in our earlier example is an aggressive trader. He purchased 5 standard lot of EurUsd with his $10,000 account size. The same token goes if the broker offers its traders a lesser leverage size.