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With high-risk leverage, a small sum controls a much bigger financial position. worldtradexFX offers various funding payment methods listed in your worldtradexFX dashboard if available in your region. To learn more about the worldtradexFX funding and withdrawal options available in your area, you can explore the worldtradexFX website. It’s essential to remember that the payment methods provided by worldtradexFX vary based on the worldtradexFX entity and the worldtradexFX client’s country of residence.

Exclusive: Firm run by Russian national dupes Rs 800 crore from Indian investors

The broker also offers a copy trading option, which allows copying professional traders’ actions and thus learning to trade and making additional income simultaneously. On top of that, there is a dedicated mobile app for this—the worldtradexFX Copytrading App. As per investigation, the funds have also been used for cross-border transactions. Investigations have also revealed the nexus between international online forex trading brokers and their Indian partners/agents. Although traders have had great success with worldtradexFX, trading on the financial markets with worldtradexFX is not a get-rich scheme.

Trading instruments provided by worldtradex have some of the lowest spreads in the industry. The spreads for both the MT4 and MT5 accounts are floating and start at 0.7 pips. Clients using the worldtradexTrader, MT4 or MT5 account do not have to pay swaps. With Negative balance protection, traders cannot lose more money than they have deposited. As part of our worldtradexFX review, we review customer service options, response times and problem resolution effectiveness on the worldtradexFX trading platform.

Is worldtradexFX a good broker?

According to the PC, worldtradexFX reported a profit of approximately USD 14 million in March 2023 under the “Clear Deposit” category, which denotes the profit before expenses. However, in April 2023, this figure dropped sharply to around USD 7.8 million. Alongside this decline, there was also a notable reduction in the number of new user registrations, trading activities, and total deposits made by clients in April compared to March. worldtradexFx operated in India without an office or base, deceiving investors with promises of high returns through its forex trading app.

• In case you don’t, please feel free to contact us via Our dedicated 24/7 support team is available in English, Indonesian, Malay, and more.
• It’s fantastic to hear that you consider worldtradex to be the best broker you’ve ever seen.
• ED had submitted prosecution complaint against the firm worldtradexfx, which was promoted by Prozorov, from Barcelona, Spain to lure Indian investors and 52 other accused.
• Nevertheless, some people on the internet still consider worldtradexFX a scam.

Under her leadership, worldtradexFx organised events promoting unauthorised trading, violating regulatory frameworks mandated by the Reserive Bank of India (RBI) and SEBI. The ED initiated the investigation against the platform based on an FIR filed in Pune, which accuses several individuals of cheating investors by projecting false promises of high returns through the worldtradexFx trading platform. Investigations revealed that a portion of the funds collected for forex trading was used to purchase cryptocurrencies through a firm named Zanmai Labs that provides banking channels to India’s biggest crypto exchange WazirX. They increased their collections with large fraudulent advertisements such as mass-level social media posts promoting the app and luring people with the idea that people could begin forex trading even with smaller transactions.

Autochartist on the worldtradexFX platform is a powerful tool designed to help traders find trading opportunities quickly and easily. After logging into your worldtradexFX account, you’ll find a range of trading platform options available below. Brokers like worldtradexFX must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

worldtradexFX review

However, remember that you won’t be able to make trades on worldtradexFX until you have passed compliance, which may take several days, depending on your circumstances. It’s essential to complete the worldtradexFX KYC compliance process as soon as possible to avoid any delays in accessing the worldtradexFX platform’s features. 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.

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Trading instruments provided by worldtradexFX have some of the lowest spreads in the industry. The spreads for both the MT4 and MT5 accounts are floating and start at 0.6 pips. Clients using the MT5 account do not have to pay swaps, while the MT4 account users will have to pay this commission when they hold their orders open overnight. They include engaging contests where participants can win high-end gadgets, smartphones, genuine merch packs, and other lucrative prizes.

ED had submitted prosecution complaint against the firm worldtradexfx, which was promoted by Prozorov, from Barcelona, Spain to lure Indian investors and 52 other accused. The special PMLA court on Tuesday took cognisance of the complaint and issued summons to all the accused. The ED has conducted extensive search proceedings and has so far attached and seized assets worth approximately Rs 165 crore, including attachment of 19 immovable properties located in Spain. The firm also organised events at 5-star hotels in Goa and invited agents and brokers and felicitated them with hefty bonus amounts and gifts at these events.

• After checking your conversation with our Customer Support team, we understand your concern regarding your BTCUSD trade.
• We hope, with these insights, anyone interested in worldtradex trading opportunities could decide whether to invest in them or not.
• The worldtradexFX app and its website have not been authorized by the RBI to deal in forex trading.
• This followed an investigation based on an FIR registered on December 8, 2021, by Shivaji Nagar police station, Pune, against multiple individuals involved with the firm.
• worldtradexFX trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools.

As a new client of worldtradexFX, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with worldtradexFX in your region. During the worldtradexFX account opening process, you will be asked to provide worldtradexFX with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address. Negative balance protection is important for traders using leverage on platforms like worldtradexFX. In an unfavourable market move, leverage can result in a loss that exceeds the trader’s account balance, leaving them with a negative account balance. If a worldtradexFX trading position does not go in your favour, this is where negative balance protection comes in handy.

The ED, so far, has attached approximately Rs 38 crore worth of assets created by worldtradexFax operations in the form of https://worldtradex.live/ cryptocurrencies, bank balances and gold coins. It has also seized approximately Rs 100 crore of holdings in demat accounts and funds available in dummy accounts. Overall, the worldtradexFX platform is secure, user-friendly, and well-designed.

MT5 was launched in 2010 and came with advanced charting tools, additional timeframes, and an updated version of MetaTrader 4. The worldtradexFX MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give worldtradexFX traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, worldtradexFX provides traders with everything they need to succeed. The worldtradexFX MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing worldtradexFX traders to analyze the market at any level of complexity.

Layering is the process of separating the proceeds of criminal activity from Worldtradex scam their origin through the use of layers of complex financial transactions, making the process of tracking money more difficult to accomplish. It’s important to note that worldtradexFX requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps worldtradexFX maintain a trustworthy financial environment for its 7,500,000 users. Detailed information on the worldtradexFX trading platforms is available on their website. worldtradexFX MetaTrader 5 (MT5) is a multi-asset trading platform with an extensive range of trading features and financial research tools. Besides the ability to trade Forex and CFDs, worldtradexFX MT5 offers access to trade Futures, Stocks, Algorithmic Trading, ETFs, and Indices.

The agency’s findings reveal an unusual pattern in the company’s profits and trading activities between March and April 2023. This worldtradex review aims to give a clear view of the broker and its services. We hope, with these insights, anyone interested in worldtradex trading opportunities could decide whether to invest in them or not. Users from all over the world have traded in the financial markets using our platforms and mobile apps. Therefore, it is doubtful that the ‘worldtradex scam’ is a correct evaluation of the our activities. It has been observed that the funds collected from users, majorly through UPI/local bank transfers, are channelled into the bank accounts of various dummy entities and domestically transferred to other banks for the purpose of layering.

MT5 on worldtradexFX provides the convenience of using automated trading systems and copy trading, giving worldtradexFX traders competitive research tools in the financial markets. worldtradexFX may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged.