The broker’s offshore regulation means it may not adhere to the same standards as brokers regulated by Tier-1 authorities. This lack of stringent oversight can lead to potential issues with fund security and dispute resolution. Notably, the FCA has issued a warning against worldtradex, stating that the firm may be providing financial services or products without proper authorization.

How to open a trading account at worldtradex

The absence of credible licensing and consistent negative feedback from users suggests that potential traders should proceed with caution. One of the most reliable https://worldtradex.world/ ways to assess the legitimacy of a trading platform is to check user reviews and testimonials. While reviews can sometimes be manipulated, they still provide valuable insight into the experiences of other traders.

Regulated markets

Our articles and reviews can help any potential investor to avoid scam in the world of global finances. I am Kevin Berry, an internationally recognized financial advisor. With my team, we provide independent reviews about online stockbrokers, financial funds, and other projects about investments. We can help anyone understand which company can be marked as a scam and which is reliable for investment.

• To sum up, I think worldtradex (Tradeco Limited) is not a safe enough forex broker.
• In short, Forex brokers like worldtradex acquire their clients through third-party affiliates, which are a scam industry in themselves.
• We managed to find an email address in the user agreement, but the phone number is probably missing altogether.
• Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.

Reviews

Forex traders can trust worldtradex’s platform for safe and secure trading. worldtradex also provides a negative balance protection policy to ensure that traders’ funds do not go below zero. This is one of the benefits provided by the broker and ensures that traders do not lose more money than they have invested. worldtradex offers online financial services yet holds no licence from any well-known regulator such as the Financial Conduct Authority (FCA). worldtradex’s operational practices have raised concerns among some users and industry observers.

• Traders can contact the customer support team via email at , and they will reply within 24 hours.
• While worldtradex offers a range of trading instruments and utilizes the reputable MT4 platform, several factors raise questions about its legitimacy.
• The trades are filled in right when I click the button, the payment goes swiftly without any delays, platform choice is the best imho.
• However, leverage also magnifies losses if the market moves against them.

The trades are filled in right when I…

worldtradex operates under the regulatory oversight of the Seychelles Financial Services Authority (FSA), holding the license number SD029. While this indicates a level of regulatory compliance, it’s important to note that the FSA is considered a Tier-3 regulator. Find out more about how to protect yourself from scams.

It’s advisable to conduct thorough research and consider brokers regulated by Tier-1 authorities to ensure greater protection and peace of mind. Issues related to withdrawals appear to be a recurring problem, common with less reputable brokers. Users mention scenarios where deposits are simple, but retrieving funds is problematic. Some clients also complain about unresponsive or non-existent customer support.

While the absence Worldtradex cheating of regulation does not automatically mean that worldtradex is a scam, it certainly raises questions about its legitimacy and the level of oversight it undergoes. Without proper regulation, traders may face higher risks in terms of financial security, dispute resolution, and overall transparency. Partnering with an unregulated and unverified broker poses significant risks. Not only can you lose your entire investment, but you also have no legal recourse to recover your funds.

How Online Fraud Often Works

So, there’s no point in working with such a company; it will work against you. worldtradex also offers a separate terminal for copying trades. Clients can connect to other traders to copy their trades or become providers for other users. However, to check this feature, verification must be completed. For withdrawals and deposits, worldtradex does not charge any extra fees for using their payment gateways. However, clients might need to pay third-party charges depending on their payment method.

In general, the conditions are a mix of mediocre and veiled. Hello Erik Krüger,We are so grateful that you took the time to write this excellent review! Hi HipnF,We are so glad to see that you are satisfied with our worldtradex platform! We appreciate it and will make sure to let our Product Team know. Hi Bawornthath Maleenon,We love to hear what our customers have to say, and your feedback has been very insightful!

Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. However, the broker provides limited transparency regarding other potential trading fees or charges on the platform. Traders should clarify fee structures directly with worldtradex before depositing funds. You’ll be asked to provide basic personal details and specify your preferred account settings.

I hit the withdrawal button and waited

To evaluate whether worldtradex is legitimate, let’s break down several factors that should be considered by any prospective user. By the end of this detailed analysis, you should have a clearer picture of whether worldtradex is a trustworthy platform for your trading needs. Conversely, other users have reported negative experiences. Complaints include difficulties with fund withdrawals, lack of response from customer support, and concerns about the authenticity of positive reviews. On Reddit, some users have labeled worldtradex as a scam, citing issues like unresponsive support and withdrawal problems. On platforms like Trustpilot, worldtradex has an average rating of 3.9 based on 155 reviews.

This unregulated platform operates without the necessary regulation, raising doubts about the safety of your funds. While regulation alone does not determine a scam, it is an essential factor to consider. Dealing with an unregulated company like worldtradex increases the risk factor of your money. Once the money is deposited with it, it stops responding to the queries.. Therefore, we do not recommend you to invest money with worldtradex.