The broker’s low spreads make it one of the most competitive brokers in the market. In the UK, for instance, users of unapproved firms cannot turn to the Financial Ombudsman or compensation schemes. Likewise, in the US, money held with an unregistered broker is not covered by FINRA or SIPC insurance.
You can deposit but not get money back
MT4 offers various features, including technical analysis tools, automated trading capabilities, and a user-friendly interface. Additionally, worldtradex offers a proprietary TradeCopier service, allowing users to copy trades from experienced traders. worldtradex is an online trading platform that offers access to various financial instruments, including forex, commodities, indices, shares, and futures. Operated by Tradeco Limited, worldtradex has garnered attention in the trading community.
You can check our Financial Services Register to make sure a firm is authorised and has permission for the service it’s offering you. Almost all firms and individuals must be authorised by us if they offer, promote or sell financial products or services in the UK. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
Brokers like worldtradex earn revenue through spreads, the difference between the buy (ask) and sell (bid) prices of financial assets. This represents the primary cost traders incur per trade. After submitting the registration form, worldtradex will review your application. Once approved, you’ll need to verify your identity and make your first deposit to begin trading.
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Traders who need more stability during trading can choose the fixed spread account because fixed spreads help to reduce their trading costs. Because of this missing oversight, many experts suspect worldtradex may be a scam. On its site (worldtradex.com) the firm lists an address at F20, 1st Floor, Eden Plaza, Eden Island, Seychelles, phone N/A, and email , all said to be managed by Tradeco Limited. This article checks whether worldtradex is genuine or fraudulent, looks at its regulatory status, common scam tricks, and explains the steps you can take if you have been caught out.
Great broker for simple trading
As a result, websites hiding their identity get a slightly lower score. You can comment on any of our materials and contact us via email. If you know any scam projects that were not reviewed by our team, please contact us. In general, worldtradex asks for all the details about you. By the way, there is no detailed document explaining the AML & KYC policy for some reason.
- We use dedicated people and clever technology to safeguard our platform.
- In the highly competitive world of financial trading, finding a reliable broker is crucial.
- This is a common tactic used by scam brokers who want to avoid accountability.
- Discover our full review covering services, signup process, fees, withdrawals, and real user feedback.
- However, the age of the website is unfortunately no guarantee.
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- On its website, worldtradex details the various services and financial markets available to traders.
- If a platform lacks this information or is not listed under any reputable regulatory body, this is a red flag for potential users.
- Some clients also complain about unresponsive or non-existent customer support.
This warning implies that worldtradex is not permitted to offer services to UK residents and lacks the protections afforded by FCA regulation. worldtradex currently holds an average rating of 3 out of 5, which is moderately acceptable. However, after reviewing individual feedback, many clients report significant difficulties with withdrawals from the platform. worldtradex provides its own dedicated mobile trading app, allowing users to trade conveniently without relying on external platforms like MT4 or WebTrader. Interestingly, despite offering cryptocurrency trading, worldtradex does not actively promote this service.
The platform that worldtradex provides is another important factor to consider. It is also odd that there is no mention of an affiliate program. This is surprising, as it could help the broker attract new clients while allowing traders to earn rewards independent of their trading performance in financial markets. Dear Justin De neef,Thank you for sharing your feedback with us. We are truly sorry to hear about the challenges you’ve faced and understand how inconvenient this must have been. Should you have any additional questions or require further support, please don’t hesitate to contact us.Best Regards, worldtradex ⚡️Empowering traders.
On the other hand, positive reviews typically mention user-friendly interfaces, easy registration processes, and the availability of various trading assets. While these reviews can be helpful, it’s important to evaluate them critically and take note of recurring themes across different platforms. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Trading and investing in financial instruments comes with a high degree of risk and you can lose money. You should only engage in any such activity only if you are fully aware of the relevant risks.
The MT4 platform is available as different versions, such as the desktop version and the mobile app. Traders can also use the platform’s web version to access the markets from any computer with an internet connection. Scammers design web or mobile apps that look like real trading dashboards. Charts move and balances grow, yet every figure is controlled by the crooks.
Depending on the payment method, deposit times can take up to 24 hours, and for bank wires deposits may take up to 5 business days. Withdrawal times vary depending on the payment provider but range from the same day up to 10 business days. worldtradex offers a wide range of payment methods for deposits and https://worldtradex.site/ withdrawals, including credit/debit cards, bank wire transfers, and e-wallets. Customer support is another critical element in determining whether a trading platform is legitimate. Reputable brokers typically offer multiple channels of communication, such as email, live chat, and phone support, and their customer service teams should be responsive and helpful. worldtradex, however, does not appear to be regulated by any major financial authorities, which raises concerns about its operations.
However, Seychelles-based regulatory approvals tend to be easier to obtain compared to more rigorous authorities such as the FCA (UK) or ASIC (Australia). Traders should, therefore, approach this broker with careful consideration. We discovered that this website is using a third-party review system.
Is worldtradex Legit
You can discuss forex and cryptocurrency related news, ideas, strategies and analysis here. You can also expose broker scams you have encountered to warn others not to fall into their trap. FxGecko will be updated daily with broker information and user complaints against brokers, so following it regularly can help you effectively raise awareness of your investment risks. A license from the SFSA in Seychelles is not quite the same as a license from respected bodies like the FCA (UK). An SFSA license doesn’t provide the same Worldtradex company reviews level of protection for traders’ rights.
worldtradex has a mixed reputation online, with some users praising its platform and tools, while others express dissatisfaction with its customer service and trading conditions. worldtradex offers customer support through live chat and email, but the quality of their service has been questioned by several users. Long response times, unhelpful answers, or failure to resolve issues promptly are all signs of a platform that may not have the best interests of its clients in mind. A legitimate broker will have a well-trained support team ready to assist traders in a timely and professional manner. worldtradex offers multiple account types, but it’s important to scrutinize the details.