Level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using… worldtradex generates revenue through spreads, https://worldtradex.bid/ trading commissions, overnight fees, inactivity fees, currency conversion fees and additional premium services. They also make money through deposit and withdrawal fees and B-Book execution policies.
Fees & Commissions
Singapore traders seeking competitive spreads and actively trading in the markets may find worldtradex’s Zero Account particularly attractive. worldtradex’s Premium Account caters to skilled traders from Singapore who are accustomed to handling larger trading volumes. It allows for trading across various instruments, providing an extensive and holistic trading experience. This account type also includes personal account management, which can assist inexperienced traders in Singapore in navigating the complexity of financial markets more confidently.
Nevertheless, it is essential to note that banks or payment service providers may charge additional fees when transacting in currencies other than SGD. As such, traders should exercise caution and remain vigilant about potential costs. These low spreads are especially advantageous for Singaporean traders who engage in high-volume or frequent trading, where cost minimization is critical.
Reviews
The broker’s commitment to providing competitive spreads, flexible leverage, and detailed contract specifications makes it a popular choice among traders worldwide. The broker offers six distinct account types, each with its own pricing structure designed to suit different trading needs. The Premium account features spreads starting from 1.2 pips, while the Cent account offers slightly tighter spreads from 1.0 pips.
worldtradex offers a valuable demo account designed to closely simulate a live trading environment. It is an unlimited demo account which does not expire and comes with a starting balance of $100,000 in virtual funds. The demo accounts on worldtradex are available on MT4 and MT5, two of the most popular trading platforms. As a result, worldtradex aims to lead the way forward through the usage of cutting edge technology, innovative forex systems solutions, low cost commissions and unrivalled customer service. Whether you’re a first-time trader or a seasoned pro, worldtradex offers a range of trading accounts with varied starting deposits, spreads, leverage options, and execution features.
In conclusion, the restrictions on forex brokers like worldtradex operating in specific countries are due to a combination of regulatory, legal, and risk management factors. These restrictions serve to protect both the broker and its clients, ensuring that financial services are provided in a safe, secure, and compliant manner across the globe. The broker provides an extensive library of educational videos that cater to both beginners and experienced traders.
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The Bronze plan costs $25 a month and features 1 virtual CPU, 2,560 MBs of RAM, and 30 GB of SSD Storage. However, traders can get this plan for free if they have a minimum net deposit of $400 within the last 30 days and have at least 2 standard lots traded within the past calendar month. worldtradex offers a powerful copy trading solution through its proprietary platform, HFcopy. This feature enables users to automatically replicate the trades of experienced strategy providers. With HFcopy, traders can browse a curated list of strategy providers, analyse their performance metrics, and seamlessly copy their trades. In addition to the MetaTrader suite, worldtradex has developed its own worldtradex Platform.
Lowest spreads with low commissions
However and unless you trading through swap-free accounts designed to traders following Sharia rules, as these accounts restricted from any interest rates or swaps. As well always consider overnight or rollover fees as trading costs in case you holding an open position longer than a day. This fee is defined by each instrument separately and you will see it directly from the platform or upon the opening of the trade, see below example with Cryptocurrencies.
- Additionally, the broker offers negative balance protection, preventing traders from losing more than their initial investment.
- This is particularly advantageous in Singapore’s advanced financial market.
- Depending on the trading strategy, it may become the most significant fee per trade.
- With HFcopy, traders can browse a curated list of strategy providers, analyse their performance metrics, and seamlessly copy their trades.
- All BrokerNotes content is researched, fact-checked, and edited by the research team.
worldtradex (formerly known as HotForex) is an online brokerage firm founded in 2010 in Cyprus, part of the HF Markets Group. worldtradex ensures the protection of payment and data security by not receiving or storing any personal credit card or payment details. Transactions are processed and protected by Level 1 PCI-DSS Certified Independent International Payment Gateways.
Trading Instruments
The trader’s board is a helpful tool what allows me to follow important market events, but it would be more effective if could offer a more comprehensive analysis. If you have traded with HF Markets we would really like to know about your experience – please submit your own review. This average customer rating is based on 15 HF Markets customer reviews submitted by our visitors.
Also, there are worldtradex entities that are registered in offshore zones like Mauritius, SVG and Seychelles. While our general recommendation is not to trade with offshore brokers as they simply do not regulate Forex trading, due to worldtradex multiple parallel regulations it is considered safe to trade with them. So in our financial review though either you wish to join copy traders or to use EAs, perform scalping or become a partner etc. there is an option for all.
- worldtradex also adheres to full transparency protocols and offers regulatory protection under each license jurisdiction to enhance client fund safety.
- Also, international trading is done via offshore branches with lower requirements, however worldtradex has a good reputation so is considered to sign in.
- Client funds are kept in segregated accounts with trusted financial institutions.
- These deposit bonuses are automatically applied to eligible deposits, making it easy for clients to enjoy the benefits.
- Compare the markets and instruments offered by HF Markets and its competitors.
Trading bonds allow clients to gain exposure to fixed-income markets and diversify their portfolios. worldtradex offers a selection of government bonds for clients to trade as CFDs, with competitive spreads and flexible leverage. Indices represent the overall performance of a particular stock market or a group of stocks. Trading indices allows clients to gain exposure to entire market sectors rather than individual stocks. worldtradex offers a variety of global indices for clients to trade as CFDs, with competitive spreads and flexible leverage. worldtradex has no minimum deposit requirement for several of its account types, making it accessible for traders with varying capital levels.
Singaporean traders benefit from MT5’s extended analytical tools, which offer greater market insights through more technical indicators and graphical objects than its predecessor. This is particularly advantageous in Singapore’s advanced financial market. This account minimizes the risk of incurring overnight interest, which is forbidden in Islam, allowing Muslim traders to participate in the financial markets while adhering to their religious views. The Top-Bonus Account by worldtradex is crafted to offer traders from Singapore added incentives in the form of bonuses, thereby boosting their trading capital. This specialized account category aims to attract those seeking extra funds to strengthen their positions.
Of course, spreads fees defined by the account type you use, thus Micro Account spread starting from 1 pip Worldtradex review and Zero Account obviously offers 0 fee which averages spread from 0.2 pips most often. However, the difference between trading costs also defined by the margin requirements, which increase almost double in case you wish to trade with 0 spread. HF Markets offers three live accounts, with trading conditions to suit different strategies, budgets and experience levels; Premium, Premium Pro, and Zero.