worldtradexFX MetaTrader 5 has many advanced trading tools for more advanced users.Understanding these tools can give you a competitive edge. worldtradexFX Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for worldtradexFX traders of all experience levels. worldtradexFX also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go. worldtradexFX is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.
worldtradexFX is a Multi-Assets Trading Platform with over 300+ Assets
The platform has gained traction through aggressive promotions, including sponsoring an IPL team, and engaging various production agencies for influencer marketing. Payments to these production agencies were made as foreign inward remittances, through two Estonia-based companies. The ED found that worldtradexFx utilized fin-tech employees to create mule accounts linked to shell companiesand fake e-commerce websites, to obtain payment gateway access to route the investor money abroad, by faking imports and freight services.
worldtradex Reviews 8,232
- Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account.
- The Enforcement Directorate (ED) has named a Russian national Pavel Prozorov as the principal accused in the operations of worldtradexFx.
- Let’s explore each of these trading platforms in detail and what options worldtradexFX gives you.
It is common to experience rapid losses when trading financial investments like Forex due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time. worldtradexFX partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds.
When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss. As part of our worldtradexFX review, we review customer service options, response times and problem resolution effectiveness on the worldtradexFX trading platform. The worldtradexFX trading platform supports a limited number of languages which includes English. worldtradexFX offer educational resources which include Webinars, Trading education, articles, video course, Platform tutorials, videos tutorials, articles, Trading strategies, Glossary.
Is worldtradexFX a good broker?
The ED also alleges that worldtradexFX diverted the defrauded funds into accounts and e-wallets owned by dubious entities. worldtradexFX has been facilitating trade on the financial markets for over 14 years. https://worldtradex.pro/ All funds deposited to worldtradexFX are held in segregated bank accounts for security. worldtradexFX is regulated by MISA (Mwali International Services Authority) (T ) so can be considered legit.
“If a user has to deposit money in accounts in Indian banks, they don’t suspect that the money could be siphoned off. Asking users to deposit money in an Indian bank account on social media adds a layer of authenticity to their scheme,” an ED official told ThePrint. With Negative balance protection, traders cannot lose more money than they have deposited. Trading financial instruments such as foreign currency markets and other financial instruments involves high risk and is unsuitable for everyone.
After logging into your worldtradexFX account, you’ll find a range of trading platform options available below. worldtradexFX clients can have greater confidence in their financial security when working with a Tier 1 bank because worldtradexFX are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status. Remember that we only process your payments through your Personal Area on our official website or the worldtradexFX Trading App and the worldtradexFX Copytrading App. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
Is my money safe with worldtradexFX?
The agency in its investigation under the Foreign Exchange Management Act and Prevention of Money Laundering Act found that the app’s operators lured prospective investors by promising attractive returns on their investments. In a bid to untangle the maze of operations, the anti-money laundering agency is preparing to reach out to foreign authorities to help with the money laundering probe and bring justice to the victims who have been duped of crores. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Although we found some very useful aspects of the worldtradexFX platform that would be useful to some traders. The phone support team successfully resolved our questions and issues over the phone.
Additionally, worldtradexFx used Estonian entities linked to its alleged mastermind, Pavel Prozorov, to pay for influencer marketing and sponsorships, including promotions for an IPL team. Further scrutiny by ED revealed that, M/s worldtradexFx India Private Limited applied to the Bombay Stock Exchange (BSE) on February 4, 2021 to sponsor the IPL team and advertise their brand. Presenting themselves as promoting stock trading in India, the company sought permission for IPL sponsorship. Once they had BSE’s approval, they started advertising their brand and promoting the M/s worldtradexFx Trading App, which is used for Forex trading. To send this money or launder it overseas, they claimed an import order for the import of services and payments were done for the same when actually no such services were offered or taken and eventually the money would https://worldtradex.club/ be laundered in crores outside the country to various tax havens or smaller European countries.
worldtradexFX is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to worldtradexFX, money is in a segregated bank account that is separate from worldtradexFX company’s funds. As a regulated broker, worldtradexFX cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by worldtradexFX. Instead, your worldtradexFX funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with worldtradexFX. Also worldtradexFX is regulated in its local jurisdictions including major financial regulators like MISA (Mwali International Services Authority) (T ). worldtradexFX are considered reliable as they are regulated by and checked for conduct by the MISA (Mwali International Services Authority) (T ).Any payments funded to worldtradexFX accounts by traders are held in a segregated bank account.For added security,worldtradexFX use tier-1 banks for this.