World Forex Review

Category: Reviews | Author: Trading Brokers | Date: April 25, 2024

World Forex is an online broker that has been operating since 2007, providing trading services in forex, CFDs, cryptocurrency, and other financial instruments to clients globally. In this review, we’ll take a close look at the key aspects of their offering, including regulation and safety, trading platforms and tools, account types, funding options, and more. We’ll highlight both the pros and cons, allowing you to make an informed decision about whether World Forex is the right fit for your trading needs. With over a decade of industry experience, they promote a focus on new technologies and commitment to clients. However, the lack of regulation raises questions that need to be addressed. By evaluating all the factors thoroughly here, you’ll get a balanced perspective on what World Forex brings to the table.

Pros & Cons

  • World Forex offers a low barrier of entry with a minimum deposit of just $1
  • The platform supports both MT4 and MT5 trading terminals, which are popular and widely used in the forex trading community
  • They provide a variety of trading accounts to suit different trading styles and preferences
  • The platform's features may not be as comprehensive or advanced as some other brokers with longer track records
  • The high leverage offered can lead to significant losses if not managed properly
  • World Forex is currently unregulated, which can be a major concern for potential investors

Summary

World Forex

World Forex

World Forex has been making waves in the online trading scene, offering a range of services that cater to both new and experienced traders. With a history stretching back over a decade, they’ve built up a sizable client base across 50 countries, which speaks to their global appeal and reach. They pride themselves on creating an environment that’s conducive to financial success, with a clear mission to provide the best conditions for their clients.


One of the standout features of World Forex is their low entry barrier, with a minimum deposit of just $1, making it accessible for virtually anyone to start trading. They’ve also put a lot of effort into developing their platform and services, incorporating innovative technologies for Forex and digital contracts trading. Their client-oriented approach is evident through their transparent agreement conditions, free training, unique loyalty program, and round-the-clock support.

World Forex also taps into the trend of social trading with their CopyTrade feature, allowing newcomers to replicate the trades of more seasoned investors. This can be a great way to learn the ropes while potentially earning from the get-go. They’ve also adapted to the digital age by offering digital contracts on MT4 and accommodating accounts in national currencies, which adds a layer of convenience for traders from various regions.

In terms of trading tools, World Forex doesn’t hold back. They provide ECN technology for direct access to currency markets, Autotrade options for those who prefer a hands-off approach, and they support leading payment systems for smooth transactions.

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Regulation

When it comes to the regulation of World Forex, it’s a bit of a mixed bag. On one hand, they claim to be a participant of The Financial Commission, which is an international organization that steps in to resolve conflicts between its members and their clients. This membership is a plus because it offers a layer of protection for traders through the Compensation Fund. This fund is like a safety net that can cover disputes up to 20,000€ if the company can’t or won’t follow the Commission’s decisions.

But here’s the catch: World Forex isn’t regulated by any of the major financial supervisory bodies that you might be familiar with. This means they don’t have to stick to the same strict rules that regulated brokers do, which can protect you from financial risks and shady practices. So, while they’ve got some coverage through The Financial Commission, they’re missing that extra layer of security that comes from being regulated by a well-known authority.

So, if you’re thinking about trading with World Forex, just keep in mind that it’s not all black and white. It’s important to weigh the pros and cons, and maybe even look into some other brokers that have a more solid regulatory framework. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

World Forex offers a variety of platforms to cater to the different needs of traders:

  • MetaTrader 4 (MT4): This is a popular choice for many traders, known for its user-friendly interface and robust features. It’s a great platform for both beginners and experienced traders.
    MT4 Platform

    MT4 Platform

  • WebTrader: For those who prefer trading directly from their web browser without the need to download any software, WebTrader is a convenient option.
    World Forex Platform

    World Forex Platform

  • FX Lite BO: This platform is designed for binary options trading, providing a simple way to trade price fluctuations in multiple global markets.
  • MetaTrader 5 (MT5): An upgrade from MT4, MT5 offers more advanced trading features and tools for those looking for a more sophisticated trading experience.
    MT5 Trading Platform

    MT5 Trading Platform

  • WebTrader 5: Similar to WebTrader, this platform allows for trading on the web but with the advanced features of MT5.
  • CopyTrade: This feature allows traders to copy the trades of successful traders automatically, which is great for those who are still learning or those who wish to leverage the expertise of more experienced traders.

World Forex also provides a range of tools to enhance the trading experience:


  • FX LITE plugin for MT4: This plugin allows for trading digital contracts directly within the MT4 platform, adding more versatility to the trading experience.
  • Forex VPS: A Virtual Private Server (VPS) ensures that your trading strategies run 24/7, without the need for you to have your computer on all the time.
  • Forex Calculator: This tool helps traders calculate the potential risks and profits before entering a trade.
  • MQL5 Signals: This service allows traders to subscribe to signals from other traders, which can be automatically executed on their own trading accounts.

Education

World Forex offers a variety of educational resources to help both beginner and experienced traders navigate the world of forex trading. Here’s a rundown of what they offer:

  • Beginners: World Forex provides a series of resources specifically designed for beginners. These include guides on how to start, what Forex is, the advantages of Forex, and literature to help you get started.
  • Trading Sessions: They provide information on different trading sessions, helping traders understand the best times to trade.
  • Company News: Stay updated with the latest news and updates about the company.
  • Market Reviews: Regular market reviews are provided to help traders understand the current market trends and make informed decisions.
  • News: World Forex provides regular news updates related to the forex market, helping traders stay informed about global economic events that could impact their trading.
  • Calendar: A trading calendar is provided to help traders keep track of important economic events and releases that could impact the forex market.
  • Help: They offer a help section that includes guides on Forex, digital contracts, how to trade, deposit & withdrawal, and payouts.
  • Knowledge Base: A comprehensive knowledge base is available to answer common questions and provide detailed information on various trading topics.
  • Glossary: A glossary of trading terms is provided to help traders understand the jargon used in forex trading.

These resources are designed to help traders at all levels improve their trading skills and knowledge.

Markets

World Forex offers a range of markets for traders to dive into. Here’s a snapshot of what you can trade:

  • Forex Instruments: The bread and butter of World Forex, where you can trade a variety of currency pairs. Whether you’re into major pairs, minors, or exotics, they’ve got you covered.
  • Digital Contracts: A different kind of trading instrument that allows you to predict the direction of an asset’s price movement within a specified time frame.
  • Cryptocurrency: For those who want to trade the digital currency wave, World Forex provides the opportunity to trade in popular cryptocurrencies.

These markets offer a range of opportunities for traders looking to diversify their portfolios or focus on specific asset classes.

Accounts

World Forex offers a variety of account types to cater to the different needs of traders. Here’s a rundown of what they offer:


  • W-CENT-fix: This account type offers trading via MT4/MT5 platforms, with a minimum deposit of 1 USD and fixed spreads from 1.8 pips. It supports a variety of trading instruments including Forex, CFDs, metals, and oil.
  • W-CENT: Similar to the W-CENT-fix, this account type also requires a minimum deposit of 1 USD but offers floating spreads from 0.6 pips. It supports trading in Forex, metals, and oil.
  • W-PROFI-fix: This account type allows trading in USD/RUR/EUR with a minimum deposit of 1 USD and fixed spreads from 1.8 pips. It supports a variety of trading instruments including Forex, CFDs, metals, and oil.
  • W-PROFI: Similar to the W-PROFI-fix, this account type also allows trading in USD/RUR/EUR with a minimum deposit of 1 USD but offers floating spreads from 0.6 pips. It supports trading in Forex, metals, and oil.
  • W-CRYPTO: This account type is designed for cryptocurrency trading. It requires a minimum deposit of 1 USD and offers floating spreads from 0 pip. It supports trading in 17 different cryptocurrencies.
  • W-DIGITAL: This account type is designed for trading in digital contracts. It requires a minimum deposit of 1 USD and offers fixed spreads from 1.8 pips for Digital contract 0-100 only. It supports trading in American and European Digital contracts and Digital contracts 0-100.

In addition to these, World Forex also offers a Demo Account for those who want to practice trading without risking real money.

Funding

World Forex offers various funding methods that traders can use to deposit and withdraw funds from their accounts. Here is an overview of the main options:

  • Bank Wire Transfer: This allows deposits starting from $200, takes up to 5 bank days to process, and has an estimated 30 minute withdrawal time. Withdrawal commissions are based on the beneficiary bank. Supported currencies are RUB, USD, EUR, and KZT. Bank fees apply for deposits.
  • Bank Cards (VISA & MasterCard): Card deposits start from $1, are processed instantly, and have an estimated 30 minute withdrawal time. The withdrawal commission is 2.5%. Supported currencies are RUB, USD, EUR, and KZT. No fees for deposits.
  • Bitcoin: Bitcoin deposits require a minimum of $10, take up to 6 hours to process, and have an estimated 30 minute withdrawal time. Withdrawal commissions depend on the payment system used. The deposit commission is 0.000675 BTC. Only BTC is supported.
  • Apple Pay: For Apple Pay, the minimum deposit is 300 RUB. Deposits are processed instantly and withdrawals take around 30 minutes. The withdrawal commission is 2.5% + 50 RUB. Supported currencies are RUB, USD and EUR. No deposit fees.
  • Dash: Dash deposits start from $1, take up to 6 hours to process, and withdrawals are estimated to take 30 minutes. Withdrawal commissions vary based on the payment system. Only Dash is supported. No deposit fees.
  • Payeer: This method has a 10 RUB minimum deposit size, instant processing, and 30 minute withdrawal time. The withdrawal commission is 1% and only RUB is supported. No deposit fees.

Conclusion

Wrapping up our look at World Forex, it’s clear that they’ve got some interesting features to offer. From a variety of account types that cater to different trading styles, including W-CENT-fix and W-PROFI, to a range of funding methods like bank wire transfers and even cryptocurrencies like Bitcoin and Dash, they seem to have thought of everything to make trading accessible and convenient. They also provide educational resources to help traders get up to speed with the markets and trading techniques. However, it’s worth noting that while World Forex offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading brokers reviews.

World Forex Logo

$1

World Forex is a trading platform that emphasizes its commitment to providing optimal conditions for successful trading in the Forex market and digital contracts. Established for over 13 years, World Forex boasts a strong foundation of reliability, backed by a license and liquidity provided by some of the world's largest banks.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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