The applicability of these resources is debatable, as much of the information provided is general in nature. Another surprisingly good thing about this broker is that it offers the MT4 platform. Very high efficiency, fast executions and vast trading tools. Once you get Worldtradex forex brokers reviews used to this one, you don’t look for a change. Hi Alex Krouglov,Thank you for sharing your positive experience with Emma.
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Worldtradex.com is a fake platform, and they are ignoring me! The footer mentions the legal entity — Tradeco Limited. If you check the official SFSA registry, such a company exists there. The exact operating period is not stated on the official website, but Worldtradex boasts awards received in 2022, 2023, and 2024.
Get your money back from a scam
An SFSA license doesn’t provide the same level https://worldtradex.world/ of protection for traders’ rights. This organization lacks the authority to control a company’s actions as strictly as larger regulators. If issues arise with withdrawals or dishonest practices, you will have very few means to protect yourself. We cannot claim that this is a scam, but we also cannot speak positively about the platform.
- Once you get used to this one, you don’t look for a change.
- If a financial firm is authorised by us, it gives you greater protection if things go wrong.
- You should also contact your bank as soon as possible and let them know about your issue.
- Thus, Worldtradex ensures a secure trading platform for their clients with every possible facility to trade.
- It tries to bring the fastest trading process possible.
- On platforms like Trustpilot, Worldtradex has an average rating of 3.9 based on 155 reviews.
All accounts have the minimum lot size of 0.01. When opening an account, traders can use USD, EUR, or GBP as the account currency. Worldtradex provides access to several types of accounts varying in spreads. When registering, clients can choose between Standard, Premium, or Privilege accounts, as well as a cent account. The major drawbacks of such an approach are the lack of obvious distinctions between accounts and the lack of transparency to clients in general. Dealing with an unregulated company like Worldtradex increases the risk factor of your money.
They cannot provide any details regarding their regulations and registrations. They don’t have any reputation for being an authentic broker. Unregulated companies operate without a license from a recognized financial authority. This means they are not required to follow any rules designed to protect investors, making them risky to deal with. A license from the SFSA in Seychelles is not quite the same as a license from respected bodies like the FCA (UK).
Trading Speed
- For instance, the Worldtradex website supports 12 languages in addition to English, covering both European and Asian markets.
- Hello Evelyn T. Andrews,Thanks for your review!
- Those are the most reputable ones with very strict rules.
- Offshore brokers tend to lure clients into depositing as much as they can.
The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises. This is an offshore trading company offering FX and CFD trading with an FSA license. For some experienced traders that are looking for copy trading, social trading and EAs this is not a good choice.
Hence, Worldtradex is a legitimate broker and not a Worldtradex scam to trade. Broker Complaint Alert helps victims of investment fraud, forex scams, crypto scams, and any type of fraud that happened to you. We have helped and guided thousands of people every year. What’s wrong with this broker is that CNMV (Spain) has issued a warning against them. Considering that Worldtradex has only been in the market since 2022, this is an incredibly rapid accomplishment. Worldtradex operates under the regulatory oversight of the Seychelles Financial Services Authority (FSA), holding the license number SD029.
Once registered, users gain access to the Client Portal, which can be described as a standard and unremarkable interface. While it may lack innovation or standout features, it does provide all the necessary functions for managing one’s trading account. Users can view their balances, make deposits and withdrawals, access trading tools and resources, and monitor their trading activity.
Is Worldtradex A Legit CFD Broker?
Nevertheless, the client agreement reserves the right for the company’s employees to unilaterally change trading conditions, including swap charges. One of the primary concerns with Worldtradex is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others. This unregulated platform operates without the necessary regulation, raising doubts about the safety of your funds.
The main difference between them is some minor benefits like tighter spreads. Another difference comes from the CENT account, which is defined in cryptos, not in fiat currency. What’s wrong with this broker is that there is a warning issued against them by CNMV (Spain). Since Worldtradex is fresh on the market, only since 2022 this is a very quick achievement. Therefore, the rules they comply with are weak. Based on some Worldtradex reviews conclusion is that this could make potential issues.
So today, we will check whether this platform is truly safe or if something is wrong with it. It has performed well and is working hard to be among the list of finest service providers. The broker is based in Malaysia, with access to more than 350 assets and one or more trading platforms.
First time experiencing
Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Worldtradex’s credibility is fine and that’s why I’m here. Companies on Trustpilot can’t offer incentives or pay to hide any reviews. I accept the website agreement on the processing of personal data.
Since they are providing services outside of Seychelles, they should comply as well with the regulations of those countries where they operate. Let’s take a look at this detailed Worldtradex review to see more. I deposited money and was contacted by several people, G seemed to be interested and seemed to be helpful but after I didn’t deposit more, he basically booted my account.
Worldtradex is part of Tradeco Limited registered in Seychelles. As a forex and CFD trading company, they should comply with some regulations. If you choose to trade with such a high-risk Forex broker, your funds and personal information will not be effectively protected. Almost all firms and individuals must be authorised by us if they offer, promote or sell financial products or services in the UK.
