No, the broker does not offer real shares as part of its trading instruments. Aside from the products and services already discussed in this review, worldtradexFx offers more. In this section, we are going to be looking at these extra products and services. The company’s educational library is well maintained and offers rich learning resources that includes webinars, articles, platform tutorial videos and a video course.
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The minimum deposit amount required to register an worldtradex live trading account is USD 25. worldtradex provides two live trading accounts – the worldtradexTrader and the MetaTrader 5 (MT5). The educational materials provided by the broker are sufficient to help traders learn what forex trading is and grasp the basic concepts.
worldtradexFX deposit bonuses are unfortunately unavailable to traders who are based in the EU and trading within this regulatory area. There are a maximum of 28 currency pairs, 3 cryptocurrencies, 10 indices, 4 metals, and 2 energy markets. Each index has its own trading hours coinciding with the global financial markets.
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The broker also offers wonderful features that are unique to the company alone. In addition to keeping the client’s investments safe and separate from its capital, the broker ensures maximum transparency. However, the company’s offshore entity is not regulated by a tier 1 regulatory body, which offers a less sense of security. 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.
If you are unsure which one to choose, try risk-free trading on worldtradexTrader with a free demo account. Let’s break down worldtradex’s minimum deposits, accepted payment methods in South Africa, deposit rules, and everything else you should know before you fund your trading journey. You can trade through worldtradex with any of the 3 trading platforms that the broker offers. You can open an worldtradex Micro Account with a minimum deposit of $25. The instruments offered by the broker include CFD trading in Shares, Forex, Indices, Commodities, and ETFs.
Trader from SA are registered under Orinoco Capital (Pty) Ltd, which is registered in SA. No, their South African entity Orinoco Capital (Pty) Ltd. is not an approved ODP. They only have a Category I license under which they can acts as an intermediary only.
Trustpilot Users’ Review About worldtradexFx
A review of the broker’s trading instruments reveals that users are allowed to trade over 120 stocks. Compared to other brokers, worldtradexFx claims to have low trading fees and charges nothing on deposit and withdrawal. Lastly, low spreads, user customized account types, 0% commissions, fast payouts and a rich educational library are the company’s strong points. Available accounts include the MT4 Account (ideal for habitual traders), and the Islamic Account (swap-free for Muslim traders). Advanced traders and money managers can access the MT5 Account, which offers higher leverage, lower margin requirements and additional benefits. Trading hours are the times when a particular asset is available for trading.
worldtradexFX Minimum Transfer Amounts and Commissions
The broker has two referral programs, including the Invite a Friend and the IB partner programs. Locate and click on the mobile application links on Google Play Store or Apple Store and download the app from there. While you cannot invest in indices directly, with worldtradex you can trade contracts on them. Instead, you can make profits by predicting how an index is going to change and opening a corresponding long (Buy) or short (Sell) position. To initiate a withdrawal on worldtradex, first log in to your dashboard, then locate the ‘Withdraw’ tab and click on it. Step 3) Enter the amount you want to deposit and provide the necessary details required.
Traders looking at worldtradexFX, who want access to more advanced trading features may be required to make higher minimum deposits. The additional trading features from worldtradexFX or from more premium trading accounts may help a traders investment strategy. If these premium trading features are not requires trading accounts with lower or no min deposit requirements may be sufficient. Check to see how worldtradexFX compares with other brokers in terms of trading features and minimum deposits. worldtradex offers two platforms—worldtradexTrader and MetaTrader 5 (MT5)—both with a minimum deposit of just $25, making it easy for traders to get started with a low investment. Both platforms feature floating spreads from 0.6 pips, zero commissions, and no deposit or withdrawal fees.
The minimum deposit that qualifies for this promotional offer is Worldtradex cheating $50. Deposits made to trading accounts must therefore be made from bank accounts in your name only. In the case of bank transfers, all requests are processed within 1–3 hours during the working time of the broker’s financial department. However, deposits via Skrill, Neteller, Visa, Mastercard and crypto are instant. Below is a tabular review of the various deposit methods and the processing time.
The spread on both worldtradexTrader and MetaTrader 5 accounts starts at 0.6 pips, with floating spreads that may vary based on market conditions. The minimum deposit to open an account with worldtradex is just $25, making it a low-cost option for traders starting with a small investment. Spreads on both worldtradexTrader and MetaTrader 5 accounts start at 0.6 pips, with floating spreads that may vary based on market conditions. With these conditions, your trading outcomes can become even more beneficial. This is because we profit from spreads, which are the lowest on the market. worldtradexFX offers 24/7 customer support through live chat on the broker website.
- But since they are not approved ODP, this makes them moderate risk broker for SA traders.
- These are all useful and important tools to utilize for any forex trader on all platforms and brokers.
- Your card issuer may take a couple more hours to credit your account.
- The broker has two referral programs, including the Invite a Friend and the IB partner programs.
A market index is a score that measures the performance of a group of assets. Major stock indices track a basket of the most important stocks on a certain stock exchange. For example, the NASDAQ 100, one of the leading US indices, consists of 100 stocks traded on the Nasdaq stock exchange.
Withdrawals to South African bank accounts require a minimum of R90. These withdrawals are processed within 1-3 hours and may also take about an hour or more for the funds to reach your bank account, depending on your bank. The minimum withdrawal via cards on worldtradex is US$20, and only Visa cards are supported for card withdrawals. They are processed within 1-3 hours, and may take an additional 30 minutes to transfer the funds.
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- It also provides for detailed analysis with market reports and more to offer.
- One area where worldtradexFX stand out is their approach to trader feedback.
- This is the commission fee charged by the Master (Signal Provider) whose trade you are copying, and it is up to the individual provider how much this fee will be.
CTrader has a desktop version, and is also available in apps for android and iOS. Payment methods refers to the various mediums by which users can credit and withdraw from their accounts. worldtradexFx offers its users different payment methods to be used either for deposits or withdrawals. The broker claims to offer competitive spreads as compared to other forex brokers.
I am an expert in brokerage safety, adept at spotting scam brokers in mere seconds. My guidance, rooted in my firsthand experience with brokers and an in-depth understanding of the regulatory framework, has safeguarded hundreds of users from fraudulent brokerage activities. Furthermore, worldtradex’s commitment to inclusion and tolerance for different trading preferences means that all traders can easily engage in ethical and interest-free trading activities. Should you need it though, the customer service team is available through live chat, phone, and email to deal efficiently with any problems that may arise. Both social and copy trading is well provided for at worldtradexFX through their own proprietary copy trading service.