We cannot claim that this is a scam, but we also cannot speak positively about the platform. We still need to check how long the platform has been in the market, whether it holds any licenses, and what it really represents. Next, worldtradex informs that the application is under review, but after this, the personal cabinet is still open. Moreover, the potential client has to wait for the review of their application, which delays the process of starting trading. Verification can help ensure real people are writing the reviews you read on Trustpilot.
worldtradex offers access to currency pairs, indices, commodities, futures, and stocks. However, there is no exact number of assets available. And if traders use the platform recommended by the administration, their trading opportunities will be significantly limited. Clients who trade with this broker enjoy the luxury of trading with fixed spreads. For the basic accounts, the spread is 1.8 pips, while the Privilege account reduces the spread to 1.1 pips. All accounts have the minimum lot size of 0.01.
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. This website has been set-up several years ago. The longer a website exists, the more it can be expected that it is legit. However, the age of the website is unfortunately no guarantee.
Once the money is deposited with it, it stops responding to the queries.. Therefore, we do not recommend you to invest money with worldtradex. The registar of the domain serves mainly high-end customers.
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Who in their right mind would trade with such an openly fraudulent company? No license, a short operating history, plus many fake positive reviews. The footer mentions the legal entity — Tradeco Limited. The registration address is the Seychelles. If you check the official SFSA registry, such a company exists there. Next to it, there is the platform’s website.
Key worldtradex Trading Features
If you’re contacted unexpectedly by a financial business or individual, make sure you reply using the contact details on the FS Register. You should only deal with financial firms that are authorised by us. If a financial firm is authorised by us, it gives you greater protection if things go wrong. If you deal with this firm, you won’t have access to the Financial Ombudsman Service if you have a complaint.
The Broker’s Past and Present
- If a broker calls itself global, safe, and profitable, you should not take its word for it.
- In the personal cabinet, there is access to an economic calendar, indicators, trading ideas, news, and other additional tools.
- Companies on Trustpilot can’t offer incentives or pay to hide any reviews.
What stands out the most is the lack of specific information about the broker itself. However, to be fair, there are some positives. For instance, the worldtradex website supports 12 languages in addition to English, covering both European and Asian markets. The company has also provided the necessary documents and a risk warning. Hello Erik Krüger,We are so grateful that you took the time to write this excellent review! Much appreciated.😃worldtradex ⚡️Empowering traders.
Execution is reliable, sometimes the platform lags a bit when I have service issues but okay mostly
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- A serious company should assist clients quickly.
- While regulation alone does not determine a scam, it is an essential factor to consider.
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. worldtradex fails to provide any information about its staff on its website and promise fake returns. These deceptive practices raise significant doubts about the credibility and trustworthiness of this platform. One of the primary concerns with worldtradex is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others.
Offshore brokers often use such countries to avoid the strict regulations that exist in countries with more rigid financial controls. 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. Also, the timeframes for how long the data and document verification will take are not specified. There are plenty of images, but they all look the same and seem generic. Smiling faces, phones supposedly displaying trading success, and typical stock graphics with harsh colors — all of this does not inspire trust.
Examining the web version of the platform reveals several weaknesses. The interface of the terminal is simple, with limited features offered. Liquidity issues are obvious and are directly related to leverage and financial losses incurred by clients. Stability in the terminal is poor, and there are significant delays in order execution. Scammers design web or mobile apps that look like real trading dashboards.
We discovered that this website is using a third-party review system. We consider this a positive finding as the website cannot manipulate the reviews directly. While you should still be careful when you are checking the reviews, external reviews are much more reliable https://worldtradex.blog/ than reviews placed on a website by the owner directly.
These days, I keep my chips on the table where the dealer counts fait. VAST REACH hasn’t dealt me a cold hand yet. Almost all firms and individuals must be authorised by us if they offer, promote or sell financial products or services in the UK. Without regulation, there is no safety net.
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. We use dedicated people and clever technology to safeguard our platform. I truly enjoy the cent account that they provvide, because it’s much easier to trade there with lower capital. Worldtradex scammers I can’t put in a lot of money now, so it’s the only right option to trade i guess.
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