The Enforcement Directorate has so far attached assets worth approximately Rs 38 crore in the form of cryptocurrencies, bank balances, and gold coins in connection with the case. The ED’s investigation found that worldtradexFx illegally transferred profits abroad using fake import documents and mule accounts provided by shell firms. ED alleges the app’s owners routed a portion of their investments through Alternative Investment Funds (AIFs) registered with India’s market as investments to bring legitimacy to the illegally obtained funds. The agency has identified a list of chartered accountants and professionals who helped create fake remittance certificates and open bank accounts or shell companies for routing illicit money. 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.
worldtradexFX is regulated and well established, having been in business for over 14 years. Please note that the list of payment methods below depends on the worldtradexFX Entity and the client’s Country of Residence. You can trade a wide variety of instruments with worldtradexFX over 300 instruments in fact.
- Clients using the worldtradexTrader, MT4 or MT5 account do not have to pay swaps.
- Trading instruments provided by worldtradex have some of the lowest spreads in the industry.
- The support team quickly and efficiently resolved all of our queries.
- Further, Prozorov’s assets in Spain, worth ₹42 crore, have been marked for seizure under the Mutual Legal Assistance Treaty.
- This means worldtradexFX are supervised by and is checked for conduct by the MISA (Mwali International Services Authority) (T ) regulatory bodies.
- The funds were then routed abroad under the pretext of fake imports and freight services.
- To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.
Trading Platforms and assets
CFD trading on worldtradexFX allows traders to speculate on the price movements of various financial instruments against the broker worldtradexFX, without actually owning real assets. With CFDs, worldtradexFX traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset. The next step involves submitting identification documents for worldtradexFX account validation and making a deposit. Once completed, worldtradexFX users can download the trading platform of their choice.
How many people use worldtradexFX?
Modern brokers like worldtradexFX provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, worldtradexFX may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall worldtradexFX trading profitability. We’re genuinely thrilled to hear that you’re enjoying our platform and finding it easy to navigate.
Is worldtradexFX a good broker?
Filed by Nessa Risley in the Southern District of New York, the lawsuit alleges that Uniswap’s unregulated platform facilitated fraudulent activities, https://worldtradex.site/ including scam tokens and Ponzi schemes. Risley claims that USV, along with other investors, was complicit in these activities by benefiting from Uniswap’s fee structure without addressing the rampant fraud. The case underscores the increasing scrutiny on venture capital firms and their role in the rapidly evolving cryptocurrency landscape.
Does worldtradexFX offer negative balance protection?
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.
Trading apps
- With these free apps, clients can trade, access analysis tools, and manage their accounts.
- FinanceScam is your trusted source for uncovering financial scams, money laundering networks, and sanctions violations.
- With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.
- According to sources, the platform also offered to invest huge amounts of crores in cash from select customers and investors, mostly bigger introducers, whose online history showed that they had been regular.
- With Negative balance protection, traders cannot lose more money than they have deposited.
The Enforcement Directorate (ED) has uncovered a Rs 800 crore fraud linked to forex trading platform worldtradexFx, revealing a complex scheme that defrauded Indian investors in just nine months of operation. 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. As a Forex broker, worldtradexFX is distinguished by some of the most appealing trading conditions in the market, with no swaps and the lowest spreads in the industry.
By partnering with a trustworthy broker like worldtradexFX, you can enjoy peace of mind and focus on your trading activities.If worldtradexFX violate any regulatory rules their regulated status could be stripped. worldtradex is an international broker providing online trading services since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 160 countries with more than 42 million trading accounts.