This option makes WorldTradex an attractive choice for traders who follow the principles of Islamic banking. Unlike standard trading accounts, where a rollover (carrying an open position to the next working day) is calculated with interest rates, the Islamic account eliminates interest accrual. Instead, the broker charges an additional spread or commission as a substitute for interest. Depending on the account type and pricing model, this is done through an increased spread or a separate commission.

It’s worth mentioning that your trading account balance must meet a threshold to access certain educational content. WorldTradex offers various trading platforms, each with unique functionalities and advantages. From MetaTrader 4 for classic Forex trading to ZuluTrade for social trading and Capitalise AI for algorithmic trading, traders have all the necessary tools for effective market operations. Trading Station’s proprietary platform offers flexible settings and advanced analytical tools, making it convenient for traders of all levels.

Ensure you meet the minimum monthly turnover requirements of 10 million US dollars. WorldTradex charges an inactivity fee of $50 per year after one year of no trading activity. This should be considered when choosing a broker, especially if you plan not to trade for an extended period. Customer support is available over the phone, by email or through Live Chat 6 https://worldtradex.pro/ days a week, Sunday through Friday.

Forex

Finally, some of WorldTradex’s educational content is only available if your balance exceeds certain minimum thresholds. While minimum balance requirements could incentivize some traders to utilize the educational resources, I think it’s better to make the content free for all clients. Motivation can instead be inspired by creating interactive courses that feature quizzes and incorporate progress tracking.

How does WorldTradex make money?

Continue reading to discover all the details and make an informed choice. WorldTradex offers comprehensive 24/5 customer support globally, providing assistance through phone, email, messaging services, and live chat. WorldTradex was founded in the United States, but as of 2017, it left the U.S. market. This process involved existing holdings and U.S. clients being reorganized under Global Brokerage, a company with an ownership interest in WorldTradex. In late 2017, Global Brokerage filed for Chapter 11 bankruptcy, but WorldTradex Group is not involved. Other than the issues with former U.S. clients, WorldTradex has not faced any other investigations or issues in recent years.

To delete your WorldTradex account, you need to contact their customer support team and follow the instructions provided. No, WorldTradex operates as a No Dealing Desk (NDD) broker, which means it provides direct market access without intermediary intervention. International phone numbers deserve special mention, although call charges may apply. Overall, clients have the option to choose a convenient method of communication for themselves.

You should therefore ensure that you have reserved sufficient buffer usable margin before opening new trades. Among the brokers using its services is M4Markets, which integrated its solutions last November. Yes, WorldTradex offers spread betting, primarily for UK clients, allowing tax-free trading on a range of financial instruments. Yes, WorldTradex offers a demo account, allowing users to practice trading with virtual funds before committing real money. ZuluTrade is a platform for social trading that allows you to automatically copy the trades of successful traders. It is a good option for those who do not want to delve deeply into market analysis.

A Technology Provider in the Trading Industry

WorldTradex offers market-average spreads, making them competitive for most traders. Additionally, the broker’s swaps are below market, which is particularly attractive for long-term investors and traders who prefer to keep positions open for several days or weeks. For testing strategies and practical trading training, WorldTradex offers a demo account. The demo account operates 24 hours a day, 5 days a week, providing traders with 50,000 virtual British pounds. There are abundant support resources online and on the WorldTradex website for ZuluTrade, MetaTrader 4, and NinjaTrader, as all three are used by numerous forex brokers.

Auto-trading is an ideal solution for traders who do not want to create their strategies or lack the skills to do so. Upon registering a training account, one can order free educational literature, which will be sent electronically to the provided email address. WorldTradex, or Forex Capital Markets, is an NDD broker that provides institutional and retail clients with access to online Forex trading. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.

• At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers.
• Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
• While minimum balance requirements could incentivize some traders to utilize the educational resources, I think it’s better to make the content free for all clients.
• The broker reserves the right to determine if you employ an arbitrage strategy.
• These tools cover all necessary aspects for successful trading, from identifying market entry and exit opportunities to analyzing financial data and current volatility.
• WorldTradex offers two main types of trading accounts – Mini and Standard, which are suitable for most users.
• Overall, the commission structure appears balanced, with opportunities for savings for specific categories of traders.

What is the maximum leverage on WorldTradex?

It is available under CySEC, FCA, ASIC, and FSCA, providing access to over 100 markets. The WorldTradex Professional Account is designed for expert traders and is available under CySEC, FCA, and ASIC regulations. It offers access to a wide range of markets, including Forex, commodities, indices, stocks, and cryptocurrencies, totaling over 100 assets. Deposits by debit or credit card typically take 1 business day, although it can be less. A bank wire deposit can take 1 or 2 business days for domestic transfers and 3-5 business days for international ones.

• The amount you withdraw to a debit/credit card cannot exceed the amount originally deposited.
• You can use the mobile version of MT4 or download the mobile application for Trading Station for full functionality.
• Experienced traders who think WorldTradex has sufficient instruments will find no shortage of tools to help them with analysis and charting.
• Here is a table of average spreads and swaps for major currency pairs on a standard WorldTradex account.
• With WorldTradex, you can trade hundreds of financial instruments commission-free and with no stamp duty, while using leverage to open larger positions.

Does WorldTradex offer a demo account?

Beginners will appreciate the accessible educational materials and analytics, while experienced traders can use various instruments and flexible platform settings. WorldTradex offers various analytical tools, including trading signals, a market scanner, an economic calendar, and even specialized trading applications. These tools cover all necessary aspects for successful trading, from identifying market entry and exit opportunities to analyzing financial data and current volatility. Analytics from the company’s experts and access to research through eFXplus add extra value, making this broker one of the best for analytics provided.

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Even just the proprietary platform, Trading Station, has advanced features that set it apart. WorldTradex will be best for beginners to intermediate traders or experienced traders who do not feel limited by its relatively low number of forex pairs. Experienced traders who think WorldTradex has sufficient instruments will find no shortage of tools to help them with analysis and charting.