The first currency is the base currency, and second is the quote currency. This shows how much of quote currency is required to buy the base currency. WorldTradex does not have a dedicated mobile app, but clients can trade using MT4’s app, which is available from the Apple App Store and Google Play. Our team is happy to see that WorldTradex does not impose any trading restrictions, meaning strategies such as hedging and scalping are viable. Our team rates WorldTradex’s execution model, which combines straight-through processing (STP) and electronic communication network (ECN) to ensure fast and high-quality execution with low pricing.
Simple and Streamlined Process
Clients can also download a range of ebook PDFs for free that go into further detail on strategizing and online trading. EeziePay and AWEpay process both deposits and withdrawals instantly, however you should be wary of currency conversion fees. The other e-wallets Neteller and Skrill process deposits within an hour of the request and are instant for withdrawals, which is competitive. On the downside, WorldTradex’s high fees for most withdrawal methods are a disadvantage. The $30 – $45 charges are way above brokers such as eToro, which only charges $5, and many brokers we evaluate that offer free withdrawals. On the negative side, there is a slim selection of trading platforms with access to MetaTrader 4 (MT4) only.
– Currency pair
Volume is the total amount of trading activity of a particular currency pair. Sometimes it’s also considered as the total number of contracts traded during the day.. The carry trade strategy involves borrowing funds in a currency with a low-interest rate and investing them in a currency with a higher rate. This method helps traders capitalize on the interest rate differential, turning it into profit.
Unique Features
- The company helps traders to improve their skills, through which it attracts customers.
- From Wednesday to Thursday swaps are calculated in triple size Click here for more details.
- Five MT4 user guides and a Forex glossary section are also available.
- WorldTradex brand is an international brand that is registered and regulated in various jurisdictions and is committed to offering you the best possible trading experience.
- Forex swaps are calculated based on the interest rate differences between the currencies being traded and are typically shown in pips.
- WorldTradex stands out as a solid broker choice for traders looking for a low-cost, regulated platform.
Whether you are facing technical issues, account-related queries, or need help with your trading platform, WorldTradex’s support team is prepared to assist promptly. While the broker does not offer phone support or automated bots, the availability of live chat and email ensures that most issues can be resolved quickly and effectively. This customer-centric approach makes WorldTradex a solid choice for traders who prioritize responsive and professional support. Additionally, traders have access to real-time market data and analysis to help them make informed decisions. The combination of educational tools and a well-regulated environment makes WorldTradex a reliable option for traders looking to expand their knowledge while maintaining secure trading conditions. Forex trading does not occur in exchanges like commodities and stocks, rather it is an over-the-counter market where two parties trade directly through a broker.
Is Holding Costing You? A Closer Look at Forex Swap Rates
WorldTradex also offers eleven downloadable ebooks but does not offer training videos, trading seminars, or courses. All educational content is translated into over 80 languages, including Hindi, which is impressive. WorldTradex’s limited research and analysis section provides an up-to-date basic daily technical analysis, a morning roll call analysis, and a forex news section.
These methods don’t require holding positions overnight, thereby avoiding rollover fees. When holding a position overnight, forex brokers calculate the interest rate differential between the two currencies. Depending on the pair and your position, this rate can either credit or debit your account. Essentially, you earn interest if you hold a currency with a higher interest rate than the one you’re selling, and you pay interest https://worldtradex.world/ if the currency you’re selling has a higher rate. Several factors affect forex swap rates, including central bank policies, economic indicators, market sentiment, and geopolitical events.
WorldTradex’s Customer Service
- It maintains sufficient capital reserves, segregates client deposits from corporate funds, offers negative balance protection, and undergoes audits.
- The account stands out as a competitive option for traders of all experience levels.
- “Trading Finder,” with its experience, aids traders and investors in gaining a correct understanding and deep learning.
- Based on the information on the website, the support department is available 24 hours, Monday to Friday.
- Operating as an online business, this site may be compensated through third party advertisers.
- WorldTradex also maintains a presence in Cyprus for EU-based clients under the uncompetitive ESMA regulatory framework.
FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. We ensure transparency by incorporating regulator data and user insights. Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score.
WorldTradex is a safe broker for Indians to trade with.
However, unlike other similar brokerages, it does not offer any additional sentiment indicators or analytics services such as Autochartist or Trading Central. Established in 2010, WorldTradex appeals to MT4 traders looking for excellent trading conditions on a single live account. However, WorldTradex offers a limited range of tradable instruments compared to its peers.
