worldtradex offers a wide range of trading instruments with sophisticated platform features catering to both trading newbies and market veterans. The platform’s commitment to user-centric solutions is evident in its diverse account types and focus on creating a practical demo trading experience. Furthermore, its reliable customer support and streamlined deposit and withdrawal methods reinforce its reputation. The US brokerage employs a market maker straight-through processing (STP) broker model. It supports the trade of mutual funds, stocks and bonds, ETFs, futures and futures options. Incorporated in 2006, worldtradex is an online brokerage launched by Success Trade Securities.
The broker is ideal for traders seeking an uncomplicated, user-friendly platform for seamless trade execution. It’s not packed with complicated features, making it less daunting for beginners. Cost-conscious traders would appreciate its competitive spreads, reflecting the broker’s commitment to affordability.
Steering Through The Financial Waters with Expertise
Transfer of funds through this account takes two to three dates (approximately). They require a holding period of five days before the availability of trading control is provided. It provides market access instantly and allows operating and investing in assets, and control account status and withdrawal. This prevents the hassle of trading on the computer all the time.
worldtradex Review – Can it Compete With Top Brokers?
- They also extend their reach to cater to queries during extended hours.
- The broker ensures customers get easily accessible real-time assistance during standard hours (9 – 6 EST) via a live representative.
- worldtradex is a front-runner among the diverse online brokerages on the market.
The deposit minimum is accessible, making the broker a decent option for seasoned and novice traders. For investors who want to trade on the go, worldtradex provides a seamless mobile trading experience with dedicated applications for Android and iOS devices. These apps enable traders to execute trades, analyze charts, and manage their accounts from anywhere.
- With the per-share plan, equity trades are 0.25¢ per share, with a minimum commission of 50¢.
- Overnight funding fees and other transaction charges, require detailed understanding on the worldtradex platform.
- It’s worth checking out because it may rival or even beat your current broker.
- In a world full of trading possibilities, worldtradex is a solid choice for investors seeking a seamless blend of affordability and top-notch trading platforms.
Inactivity Fee
worldtradex offers several platforms and doesn’t charge a dime for any of them. From Monday to Thursday, 9-6 pm EST is the available time for customer support, and on Friday, the timing is 9 am to 5 pm EST. It usually takes five business days, along with an ACH activation form. It offers market and limits orders on close, and the time duration can be set today or for extended hours. With customizable charts and real-time data streaming, it is browser-based.
The broker offers a complete gamut of financial services that include FX, stocks, bonds, futures and options. Besides providing direct market access (DMA), low commissions, the multi-regulated brokerage provides a modern high-speed infrastructure for instant trade execution. worldtradex ensures its traders have a robust set of tools at their disposal. The broker also offers a range of trading platforms, like the renowned MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are famous for their comprehensive charting tools, user-friendly interfaces, and algorithmic and copy trading support. Additionally, worldtradex offers its proprietary platform, designed to cater to its customers’ specific needs.
Varied Options for All Trading Styles
Like some of its major competitors, worldtradex aims to educate its users through various learning resources. However, while worldtradex has taken the step of elevating its users’ trading experience, it still has much to do to stand shoulder-to-shoulder with the best brokerages. In this broker US review, we will be vetting the truthfulness of these claims, analyze the brokerage products and detail the nature of its services.
worldtradex offers traders a robust customer support infrastructure. The broker ensures customers get easily accessible real-time assistance during standard hours (9 – 6 EST) via a live representative. However, customer support isn’t limited to regular work hours. They also extend their reach to cater to queries during extended hours.
In our review, we learn that the broker hosts four proprietary trading platforms and four third party trading platforms. The in-house platforms include the worldtradex+, worldtradex pro, the commission-free worldtradex Lite, and worldtradex mobile apps. They differ in such ways as the depth of their market analysis, access to sophisticated indicators, and platform-based trading costs.
Broker maintains up to 14 different types of user accounts on its platform. One is a per-trade schedule where equity transactions cost $2.50. You need an account balance of at least $2,500 to qualify for this rate. The commission increases to $4 if your balance falls below this level. To have access to trading accounts, worldtradex’s mobile applications, worldtradex+, and worldtradex pro offer pin and fingerprint protection. The traders and clients of worldtradex can use the mobile platform.
Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money. Automated clearing houses deposits are free and so are withdrawals. The daily deposit limit is set at $100,000 and withdrawals capped at $25,000. New York residents can also walk into the broker’s offices at One Penn Plaza in New York.
Each account has a different requirement applying to them and requires different minimum balances for their maintenance and working. The second one gives protection to securities and the cash in the brokerage account Worldtradex scam up to $500000. It allows investors to have access to markets without actually trading on their own. This might lead to the potential generation of revenue through investment fund management. worldtradex’s Cyprus SEC- Registered company allows non-US traders to open an account with them and enable spot trading in cryptocurrencies, CDFs.
Over the years, it has gained the trust of over 1 55,000 clients across the world. It provides a competitive price and a plethora of trading tools to its day traders and investors. The CFD fees are added to the broker’s spreads, promoting a more affordable trading experience for users trading CFDs. This is browser-based, but nevertheless incorporates some powerful features. There is also a trade ticket, which offers market and limit orders on close.
I was also disappointed in the platform’s lack of research tools. This also facilitates re-earning the money in case the broker turns bankrupt. It is a regulated broker-dealer and is a part of FINRA, SIPC, NFA, as it’s a member.
Quotes and real-time charts are available with technical studies. Other platforms for trading include Sterling Trader Pro, which has option tools and shows real-time market data as well. worldtradex doesn’t charge withdrawal fees, but external payment providers may have their fee structures. The laudable support system is multi-channelled across live chat, email, and phone communication.
A customer needs to have a minimum balance of $2500 to start trading. Forex trading fees work using spreads to eliminate additional commissions or fees. They also ensure traders get a straightforward trading environment.