Worldtradecenter

NOTE: Worldtradecenters official site - https://worldtradecenter.io/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

What is Worldtradecenter？

Worldtradecenter presents itself as a Cyprus-based broker that provides its customers with supreme trading platforms. It also claims that it offers leverage as hign as 1:400, competitive low spreads on 200+ instruments, as well as a choice of five account types. However, it operates without valid regulation. Additionally, the official website is non-functional currently.

Pros & Cons

Pros:

Competitive Spreads: The claim of floating spreads under 1 pip for major forex pairs could be attractive to traders seeking tighter spreads.

Variety of Instruments: Offering over 200 trading instruments, including forex, crypto, and CFDs, provides some diversification options.

Cons:

Unregulated: This is the biggest drawback, as it exposes traders to significant risks with no guarantee of fair treatment or protection in case of disputes.

Non-Functional Website: This raises serious concerns about the platform's reliability and the possibility of accessing information or support.

Limited Information: There are limited details about the fee structure and operation of the Wordtradecenter, making it difficult to gain an overall understanding of the company.

Exposure of Inability to Withdraw: There is a piece of exposure of inability to withdraw on WikiFX, which suggests risks to the fund's safety.

Is Worldtradecenter Safe or Scam？

Worldtradecenter is highly likely to be unsafe due to some red flags. Lack of regulation is the most crucial factor. Without regulatory oversight, there's no guarantee of fair treatment, protection of funds, or adherence to responsible trading practices. This significantly increases the risk of fraud or manipulation. The exposure of the inability to withdraw on WikiFX is a manifestation of this. Furthermore, the non-functional website indicates risks to the platform's legitimacy and stability. It also casts doubt on the company's ability to provide reliable information or support.

Market Instruments

Worldtradecenter provides traders with access to a diverse range of over 200 trading instruments, allowing them to participate in different markets and asset classes.

Forex Pairs: Worldtradecenter offers a wide selection of currency pairs for trading, allowing traders to speculate on the exchange rate between two currencies.

Cryptocurrencies: The platform offers trading in a variety of cryptocurrencies, which allows traders to speculate on the price movements of some digital assets.

CFDs (Contracts for Difference): Worldtradecenter also provides CFD trading on various instruments. CFDs allow traders to speculate on the price movements of assets without owning them.

Account Types

Worldtradecenter offers five account types with varying minimum deposit requirements.

Basic (EUR 250): This is the most basic account and targets beginners new to forex and CFD trading.

Silver (EUR 5,000): This account requires a significantly higher minimum deposit, suggesting it targets traders with some experience who are comfortable with a larger investment

Gold (EUR 10,000) & Platinum (EUR 50,000): These accounts have very high minimum deposits. Their target group is experienced and high-volume traders with substantial capital.

VIP (Minimum Deposit Not Available): The minimum deposit of the VIP account is not found. This account is designed for professional and top traders.

Leverage

Worldtradecenter offers various account tiers with increasing leverage options.

The Basic account offers the lowest leverage (up to 1:50). In this case, for every EUR 1 you deposit, you could control a position worth EUR 50 (1 x 50).

The Silver account offers a slightly higher leverage of 1:100. This is attractive to traders with some experience seeking potentially amplified profits.

The Gold account offers a significantly higher leverage of 1:200. This level of leverage is highly risky and should be considered by very experienced traders who understand the potential consequences.

The Platinum account offers the second-highest leverage of 1:300.The potential for significant losses is extremely high, especially considering the lack of regulation with Worldtradecenter.

The VIP account boasts the highest leverage of 1:400. This means for every EUR 1 deposited, you could control a position of EUR 400. This leverage structure is incredibly risky.

Spreads & Commissions

The spreads provided by Worldtradecenter are floating under 1 pip for major forex pairs like EUR/USD. However, more details about spreads and commissions are not found.

Trading Platforms

Worldtradecenter supports MetaTrader 4 (MT4) for trading. MT4 is well-known in the industry and it is equipped with a comprehensive interface and powerful automated trading features. Therefore, it has become one of the most successful, efficient, and competent forex trading software, and many traders regard it as the industry standard.

Deposits & Withdrawals

Worldtradecenter accepts deposits only via credit cards like VISA and MasterCard. It charges at least $30 for withdrawals. Worldtradecenter also shows that unless you achieve a turnover of 50000 times the bonus you were issued, you can only withdraw up to 20% of your money, or all of your profits and bonuses will be revoked. What‘s more, if you don’t deposit or withdraw in a month, you will be charged $99.

Customer Service

Worldtradecenter offers customer support through two channels:

Phone: They have separate phone numbers for English (+44-2080928800) and German (+61-272510220) support.

Email: You can also reach them through email at support@worldtradecenter.io.

Conclusion

While Worldtradecenter offers various features like multiple account types and the popular MT4 platform, these are overshadowed by significant safety concerns. The biggest concern is the complete lack of regulation, which exposes you to significant risks. Additionally, the non-functional website raises serious doubts about the platform's reliability and its ability to provide reliable information or support. It is strongly recommended to avoid using Worldtradecenter and choose a well-regulated broker with a transparent and functional platform.

Frequently Asked Questions (FAQs)

Q: Is Worldtradecenter regulated？

A: No, it operates without any regulations.

Q: What trading platforms does Worldtradecenter support？

A: Worldtradecenter supports the MetaTrader 4 (MT4) platform.

Q: What are the deposit methods accepted by Worldtradecenter？

A: Deposits are only accepted via credit cards (VISA and MasterCard).

Q: What is the minimum deposit to open an account with Worldtradecenter？

A: EUR 250.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.