Overview
Tradex is a trading platform that caters to the diverse needs of traders worldwide. It offers a range of trading opportunities in various markets. From the intraday market with significant daily turnover to the realm of precious metals, Tradex provides access to a variety of assets.
But the official website of Tradex is currently unavailable.
Regulation
Warning: No regulation!! A broker with no regulation operates without oversight or supervision from any regulatory authority. This lack of regulation raises concerns about investor protection, transparency, accountability, security of funds, and dispute resolution. Investors should exercise caution when dealing with unregulated brokers and opt for licensed and regulated brokers for greater safeguards and oversight.
Market Instruments
Tradex provides a diverse range of trading instruments, allowing clients to access various financial markets and trade different asset classes. These instruments include forex, bullion (gold and silver), and CFDs (Contracts for Difference) on indices and commodities.
Forex:
Forex trading is a prominent offering at Tradex, enabling clients to speculate on the value of one currency against another. With the largest daily turnover in the financial market, the forex exchange provides opportunities to trade major currency pairs, cross-currency pairs, and exotic currency pairs. The forex market offers flexibility, transparency, lower transaction costs, leveraged trading, and the ability to go long or short. Tradex provides competitive spreads, leverage up to 500:1, and institutional-grade trade execution for forex trading.
Bullion:
Bullion trading involves the buying and selling of precious metals, specifically gold and silver. Gold, a highly valuable metal with historical significance, and silver, another precious metal, are popular commodities due to their physical value and adaptability for both short-term and long-term speculative investing. Tradex offers trading on gold and silver, providing lower spreads, leverage up to 200:1, and institutional-grade trade execution.
CFDs (Contracts for Difference):
CFDs are derivative trading instruments that allow clients to speculate on the price movements of various financial markets without owning the underlying assets. Tradex offers CFDs on a wide range of markets, including stock indices, energy products, and commodities. Clients can access global markets, trade a variety of stock indices and energy products, benefit from low margin requirements, and enjoy 100% DMA (Direct Market Access) execution. CFDs provide opportunities for diversification and allow traders to take advantage of both rising and falling markets.
Account Types
Here's the revised description of the account types for Tradex:
Platinum Account:
- Benchmark: This account type sets the benchmark for maximum leverage, minimum deposit, minimum spread, and other features.
- Maximum Leverage: 1:500
- Minimum Deposit: $10,000
- Minimum Spread: 0.5
- Products: Currency trading and other available instruments
- Minimum Position: 1 lot
- Supported EA: Yes
- Depositing Method: Information not provided
- Withdrawal Method: Information not provided
- Commission: Information not provided
Standard Account:
- Benchmark: This account type sets the benchmark for maximum leverage, minimum deposit, minimum spread, and other features.
- Maximum Leverage: 1:500
- Minimum Deposit: $1,000
- Minimum Spread: 1.6
- Products: Currency trading and other available instruments
- Minimum Position: 0.1 lot
- Supported EA: Yes
- Depositing Method: Information not provided
- Withdrawal Method: Information not provided
- Commission: Zero commission
Mini Account:
- Benchmark: This account type sets the benchmark for maximum leverage, minimum deposit, minimum spread, and other features.
- Maximum Leverage: 1:500
- Minimum Deposit: $100
- Minimum Spread: 2.2
- Products: Currency trading and other available instruments
- Minimum Position: 0.01 lot
- Supported EA: Yes
- Depositing Method: Information not provided
- Withdrawal Method: Information not provided
- Commission: Zero commission
Please note that the table provides an overview of the key features of each account type. Additional details regarding depositing and withdrawal methods, as well as commission structures, may need to be obtained directly from Tradex.
Leverage
Tradex offers its clients a maximum trading leverage of up to 1:500. Leverage allows traders to amplify their trading positions by using borrowed funds provided by the broker. With a leverage ratio of 1:500, traders have the potential to control positions that are 500 times larger than their invested capital. This high leverage ratio provides the opportunity for traders to magnify potential profits, but it's important to note that it also amplifies the risk involved in trading. Traders should exercise caution and ensure they have a thorough understanding of leverage and risk management strategies before utilizing high leverage ratios.
Spreads & Commissions
Tradex offers spreads and commissions that may vary depending on the trading accounts. The spreads represent the difference between the bid and ask prices of the financial instruments being traded. While specific spread values are not mentioned in the given information, it is implied that different account types have different minimum spread requirements. Traders should refer to the account type they choose to determine the applicable spread for their trading activities.
Regarding commissions, the information does not explicitly state the presence of commissions for any particular account type. It indicates that the Standard Account has zero commission, but the presence or absence of commissions for other account types is not mentioned. Traders are encouraged to refer to the detailed account information provided by Tradex or directly contact the broker to obtain specific details on commission structures and any potential variations based on different trading accounts.
Please note that obtaining comprehensive information on spreads and commissions is crucial for traders to evaluate the cost of trading and to make informed decisions. Therefore, it is recommended that traders consult the broker directly or refer to the official documentation provided by Tradex for accurate and up-to-date information regarding spreads and commissions for each specific trading account.
Deposit & Withdrawal
Tradex offers convenient and efficient deposit and withdrawal options to cater to the needs of their clients. Deposits can be made using three funding methods, while withdrawals are processed promptly to ensure timely access to funds.
Deposits:
Wire Transfer: Clients can deposit funds in 10 different base currencies through wire transfer. The processing time for wire transfers is typically 1-2 working days, and bank fees may apply.
China Union Pay (CUP): CUP allows clients to deposit funds in Chinese Renminbi (RMB). The processing time for CUP deposits is approximately 0.5-1 hour, and no extra fees are charged for this method.
Visa/Mastercard: Tradex accepts deposits in 10 different base currencies through Visa and Mastercard. Deposits made via credit or debit cards are processed instantly, allowing clients to start trading immediately. No extra fees are charged for Visa/Mastercard deposits.
AsiaPay: Clients can deposit funds in 10 different base currencies through AsiaPay. This payment method offers instant processing, ensuring that funds are available for trading without delay. No extra fees are charged for AsiaPay deposits.
Withdrawals:
Tradex aims to process all withdrawal requests on the same day they are received, ensuring swift access to funds. The time it takes to receive withdrawals varies depending on the chosen withdrawal method.
Wire Transfer: For withdrawals via wire transfer, an approximate fee of USD 30 is charged by Tradex's banking institutions. This fee is deducted from the withdrawal amount, and clients can expect to receive their funds within 2-3 working days.
China Union Pay (CUP): Withdrawals made through CUP incur no fees, and the withdrawn amount is settled in Chinese Renminbi (RMB) based on the current onshore pricing of commercial banks in China.
Credit Cards: If the initial deposit was made with a credit card, funds will be returned to the same card within 60 days. Credit card withdrawals follow the same processing time as the initial deposit.
Trading Platform
The trading platform offered by Tradex provides a range of features and tools to facilitate trading in the financial markets. Here is a description of the key components:
MetaTrader 4 (MT4): This popular trading terminal serves as a comprehensive platform for executing trades in various financial instruments. It offers essential tools for price analysis, trade execution, and supports the use of automated trading programs known as Expert Advisors.
MT4 Mobile Trading: The mobile application of MetaTrader 4 enables traders to manage their trading accounts using smartphones and tablets. It provides analytical options, graphical display of quotes, and complete control over account management functions.
MT4 MultiTerminal: Specifically designed for money managers and traders handling multiple accounts, MT4 MultiTerminal allows simultaneous management of various trading accounts. It includes features such as account management, multiple order types, a history report center, and a news feed.
MT4 MAM/PAMM: This integrated software tool is ideal for money managers who execute block orders under a master account and distribute trades to client accounts. It supports managing multiple accounts using Expert Advisors, and offers allocation methods and order types.
Customer Support:
The only way to contact customer support is through the phone number +852 300 85899 and no other channels are available. It is important to consider potential risks and limitations associated with this arrangement. Here are some points to consider:
Limited Availability: Depending on the operating hours and resources of the customer support team, there may be limitations on when you can reach them. If the phone line is only operational during specific hours or on certain days, it could pose challenges if you require immediate assistance outside those timeframes.
Communication Barriers: Communicating solely through phone calls can have limitations compared to other channels. It may be difficult to provide or receive complex information, share screenshots or documents, or maintain a written record of conversations. This could potentially lead to misunderstandings or inefficiencies in issue resolution.
Language Barrier: If the customer support team primarily operates in a language you are not fluent in, it could create communication challenges. It may be difficult to effectively convey your concerns or fully understand the assistance provided, potentially leading to frustrations or misunderstandings.
Call Volume and Wait Times: Depending on the popularity of the product or service, the customer support phone line could experience high call volumes and longer wait times. This can be frustrating if you need urgent assistance and have to wait for extended periods before speaking to a representative.
Limited Support Options: Without alternative channels such as email, live chat, or self-service portals, you may have fewer options to seek support. These alternative channels can offer convenience, asynchronous communication, and self-help resources that may not be available through phone support alone.
International Calling Costs: If you are contacting the customer support number from outside the country associated with the phone number (+852 for Hong Kong in this case), international calling costs may apply. This could potentially result in additional expenses, depending on your phone service provider and plan.
It is important to keep these potential risks and limitations in mind when relying solely on a phone number for customer support. If possible, it is worth exploring other ways to contact the company or seeking additional support options to ensure a more comprehensive and convenient customer support experience.
Summary
Tradex is a trading platform that aims to cater to the diverse needs of traders worldwide. The brokerage offers various account types, including the Platinum, Standard, and Mini Accounts, providing traders with options suited to their experience levels and capital sizes. With a maximum leverage of up to 1:500, traders have the potential to amplify their positions and potentially increase their profits. Tradex provides access to a range of trading instruments, including forex, bullion (gold and silver), and CFDs on indices and commodities. Traders can benefit from competitive spreads, leverage options, and institutional-grade trade execution.
However, there are some important considerations. The lack of specific information regarding spreads and commissions for different account types may require direct contact with Tradex for comprehensive details. Additionally, the absence of regulatory information raises concerns about investor protection and oversight. Traders are encouraged to exercise caution and opt for licensed and regulated brokers for enhanced safeguards.
Tradex offers customer support through various channels, including mobile, phone/fax, and email, ensuring traders can seek assistance promptly. Deposit and withdrawal options are available, including wire transfer, China Union Pay, and Visa/Mastercard, while the associated fees and processing times may vary.
In conclusion, Tradex provides a trading platform with diverse offerings and potential benefits such as leverage and a variety of tradable instruments. However, traders should carefully consider the lack of specific spread and commission information, regulatory oversight, and choose the most suitable account type based on their individual needs and risk appetite. It is recommended to conduct thorough research and seek further clarification from Tradex before engaging in trading activities.
FAQs
Q1: What funding methods are available for deposits？
A: Tradex offers wire transfer, China Union Pay (CUP), and Visa/Mastercard as funding methods. Contact customer support for more details.
Q2: Is Tradex regulated？
A: Regulatory information is not provided. Consider choosing regulated brokers for enhanced safeguards.
Q3: What trading platforms does Tradex offer？
A: Tradex offers MetaTrader 4 (MT4) platform for desktop, web, and mobile trading.
Q4: What is the maximum leverage at Tradex？
A: The maximum leverage is up to 1:500, allowing traders to control larger positions relative to their invested capital.
Q5: How can I contact Tradex customer support？
A: Contact customer support via mobile phone.
