What is World Forex？

World Forex, a brokerage firm based in Saint Vincent and the Grenadines and operates all over the world including countries such as Thailand, British, Saint Lucia and Russia. It provides a variety of market instruments, including Forex, CFDs for American shares, Precious metal, Oil, Cryptocurrency, to traders globally. However, it's important to consider that World Forex is currently under no valid regulations from any recognized authorities.

In the following article, we will analyze the characteristics of this broker from multiple perspectives, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also make a brief summary so that you can understand the broker's characteristics at a glance.

Pros & Cons

World Forex spells strength with a variety of offerings that cater to traders of all levels. They extend a selection of multiple account types, suiting diverse trading styles and strategies. The popular MT4/5 trading platforms, with their wide range of tools and features, are available to users across different devices. The acceptable minimum deposit at just $1 and the provision of floating spreads make trading accessible and competitive. Further benefits include abundant customer support channels for comprehensive assistance, an option for a demo account for risk-free practice, and flexible leverage ratios ranging 1:33- 1:1000 catering to risk-tolerant and risk-averse traders alike.

However, potential traders need to be aware of a few aspects. The most significant concern is that World Forex is unregulated, which can raise doubt over its credibility and security measures. Moreover, it doesn't accept clients from certain jurisdictions due to regulatory considerations.

Is World Forex Safe or Scam？

When considering the safety of a brokerage like World Forex or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

• Regulatory sight: The broker operates with an unregulated status, signifying potential risks as it lacks the assurance of full protection for traders trading on its platform.

• User feedback: You can gain valuable insights into the experiences of other clients by reviewing their opinions and feedback about the brokerage. It's advisable to look for these reviews on trustworthy websites and discussion platforms to ensure the credibility of the information.

• Security measures: World Forex prioritizes security through anti-money laundering and privacy policies, ensuring compliance with financial regulations and protecting clients' personal data. These measures in some extent enhance the safety and confidentiality of the trading environment.

Ultimately, the decision of whether or not to trade with World Forex is a personal one. You should weigh the risks and benefits carefully before making a decision.

Market Instruments

World Forex offers a comprehensive range of market instruments, including:

Forex: The broker enables access to a wide variety of 52 currency pairs, from major to exotic, for forex trading.

CFDs for American Shares: Trade Contracts for Difference (CFDs) on U.S. stocks with this broker which allows you to speculate on price movements without owning the underlying assets.

Precious Metals: Investment options in gold and silver, commonly considered safe-haven assets is another choice.

Oil: Opportunities to trade in the oil market, including WTI and Brent Crude.

Cryptocurrency: Trading access to popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others.

This diverse array of instruments caters to the preferences and strategies of traders, offering exposure to various financial markets.

Account Types

World Forex presents a wide array of account types, each serving different trading needs. They offer a Demo Account for practice and skill development, alongside various other accounts named W-CENT-fix, W-CENT, W-PROFI-fix, W-PROFI, W-CRYPTO, and W-DIGITAL. These accounts vary in features and are tailored to suit different trading scenarios and preferences.

Uniquely, World Forex has kept the entry barrier minimalistic, with a petite minimum deposit requirement of only USD 1 across these accounts. This makes World Forex's offerings readily accessible to a broad range of individuals interested in exploring the trading universe.

Furthermore, Islamic or 'swap-free' Account is also available. Traders just need to choose a trading account like W-PROFI or W-CENT and simply tick the 'swap-free' option during the account opening process.

Leverage

World Forex provides its clients with a dynamic trading leverage structure, which varies significantly from 1:33 to a whopping 1:1000. The concept of leverage in trading means that traders can essentially 'borrow' funds to place larger trades than their actual deposit. The dynamic range in leverage of this broker lets traders pick a comfortable risk level while allowing potentially higher returns.

However, it's also important to note that while higher leverage can lead to amplified profits if the market moves in favor, it equally amplifies the potential losses if the market takes a downturn. Hence, effective risk management is crucial while using leverage.

Spreads & Commissions

World Forexs wide array of accounts feature different types of spreads and commission structures.

Both the W-CENT-fix and W-PROFI-fix Accounts provide a fixed spread starting from 1.8 pips and impose no commission.

The W-CENT and W-PROFI Accounts present a floating spread starting from 0.6 pips, again with no commission charged.

Unique W-CRYPTO Account offers a floating spread beginning from 0 pips, but with a 0.5% commission involved.

Lastly, W-DIGITAL Account users experience a fixed spread starting from 1.8 pips specifically for 'Digital contract 0-100', alongside a hefty 40% commission for early closing, which applies exclusively to American digital contracts.

Trading Platforms

World Forex provides excellent versatility in terms of platform accessibility by offering MT4/5 renowned trading platforms, across a variety of devices and operating systems. Whether you're a Windows user, a macOS patron, an Android enthusiast, an iOS adherent, or even a Linux user, you can flawlessly operate and engage with your trading strategies. This broad compatibility ensures that trading activities remain uninterrupted and convenient, regardless of the operating system used by the trader. From desktop to handheld devices, World Forex makes seamless trading a reality, enabling traders to stay connected with markets anytime, anywhere, and through any device.

Trading Tools

World Forex provides traders with a set of powerful trading tools designed to enhance their trading experience.

First and foremost, their Economic Calendar is a key instrument that keeps traders informed about global economic events, allowing them to make well-informed trading decisions.

To facilitate uninterrupted and automated trading, they offer Virtual Private Server (VPS) services, ensuring consistency in trade execution without interruptions.

Next on the roaster is the MQL5 signal — a feature that allows traders to copy trades from successful signal providers, beneficial for those who may lack time to research and analyze the markets.

Last but not least, the Forex calculator enables traders to calculate various trading parameters with precision, such as margin requirements, profit, and conversion rates.

Copy Trading

World Forex enhances the trading experience by offering a “Copy Trading” option, which is a phenomenal feature particularly for novice traders or those who wish to diversify their strategies. With this feature, users have the advantage of copying the trades of experienced, successful traders directly into their own account.

This can not only save substantial time required for market analysis, but also helps new traders learn by observing strategies used by experienced ones.

Deposits & Withdrawals

World Forex provides diverse modes for transactions, ensuring convenient trading for clients.

The broker accepts Bank cards and Internet banking, adhering to users who prefer traditional methods of transactions. Moreover, modern Payment systems are also supported, including popular ones like Apple Pay and Google Pay. For large transactions, Bank transfer facilities are readily available. These avenues support different currencies, enhancing global accessibility.

Notably, each method has its specific minimum deposit request, processing time, and commission charges. Traders interested in exploring these specifics can visit the broker's official website at below link reach out to their broker directly for personalized assistance.

https://wforex.com/payment

Customer Service

World Forex optimizes client communication with multiple contact channels. Clients can get in touch with World Forex via Phone or Email for personalized assistance. The broker's physical Address for different branches is readily available for those looking for direct engagement. For details you can visit https://wforex.com/contacts.

They can also opt for real-time responses through the live chat feature. More so, World Forex extends its reach to various Social Media platforms such as Facebook, Twitter, Instagram and Trading View.

Lastly, the Contact Us form on their website offers an easy way to send in queries, suggestions, or feedback.

Education

World Forex is commendable in its approach to educating its traders. Included in their educational resources are the 'Knowledge Base' and the 'Glossary'.

The Knowledge Base is an extensive collection of articles and information crucial to understanding various aspects of trading. It is a great starting point for novices, covering topics from fundamental concepts to complex trading strategies.

The Glossary, on the other hand, is a comprehensive list of trading terminologies, assisting traders in understanding complex terms used in the trading world.

Together, these resources equip traders with the essential tools for navigating the trading landscape effectively and confidently.

Conclusion

World Forex, a brokerage firm based in Saint Vincent and the Grenadines who also operate in British, Russia, Thailand and Saint Lucia, offers a range of market instruments including Forex, CFDs for American shares, Precious metal, Oil, Cryptocurrency.

However, potential investors should be wary of the fact that World Forex is currently unregulated. This represents a major red flag as regulated brokers conform to strict financial oversight, thereby protecting clients from potential misconduct.

As such, those considering World Forex as their broker should tread carefully, conduct thorough research and consider alternative, well-regulated brokers that prioritize transparency, security and client protection.

Frequently Asked Questions (FAQs)

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.

General Information & Regulation

IFS Markets is an online forex and commodities trader, founded in 2008 and is headquartered in Sydney, Australia. IFS Markets a registered trading name of IFS Markets Pty Ltd, and the company is fully licensed by the Australian Securities and Exchange Commission (ASIC) (regulatory certificate number 323193). IFS Markets doesn't accept traders from United State of America.

Market Instruments of IFS Markets

The company provides investors with mainstream and popular tradable instruments on the global financial market, including forex (providing 45 pairs of various mainstream and cross-currency exchanges), indices (from 14 popular stock indices on the world's largest stock market), commodities (gold, silver, crude oil), etc.

Minimum Deposit of IFS Markets

IFS Markets provides different types of accounts for different traders to meet their investment needs and investment strategies. There are two types of accounts: the Standard Account and the Professional Account. The minimum deposit for Standard Accounts is $100, and the minimum deposit for Professional Accounts is $300.

Leverage of IFS Markets

The maximum leverage available for forex products is from1:1 to 1:400, gold 1:100, silver 1:50. IFS Markets has no restrictions on trading strategies so hedging, expert advisors and scalping strategies are allowed.

Spreads & Commission Fees of IFS Markets

The standard account does not charge commissions, only the spread fee, and the main spread starts at 1.1 pips. The spread of the pro accounts starts at 0 pips, and $7 will be charged per 10,000 contract. Swap rates will be considered as a cost. Wednesday is a 3-day interest day. See the following swap rates table:

Trading Platform of IFS Markets

IFS Markets provides investors with an MT4 trading platform. Traders only need one account and one platform to access the forex, indices, and commodity CFD markets, creating a complete and high-efficiency trading software. Through MT4, traders can also get trading signals, the MetaTrader market, and the global community of fellow traders. The platform is seamlessly used for algorithmic trading, and these robots are directly applied to the chart chosen by the trader. MT4 is available for web versions and can be download at the same time. Besides, the company also provides MAM multi-account fund management, which allows users to access multiple MT4 accounts simultaneously.

Deposit & Withdrawal

The company provides many deposit and withdrawal options. The deposit and withdrawal options include VISA/MASTERCARD credit card debit card (accepting AUD, USD, JPY, EUR, NZD, BGP,CAD SGD, deposit fees are 2%, instant arrival, free withdrawal, 1-2 working days to process ), online banking (accepting RMB, THB, IDR, MYR and VND, no deposit and withdrawal fees, usually 1-2 working days to process withdrawal ), wire transfer (supporting AUD, USD, SGD, BGP, EUR, no deposit and withdrawal fees, 2-5 working days to process), POLI (accepting AUD, no deposit fees, instant arrival), Skrill (accepting AUD, USD, EUR, BGP, SGD , Charge 2% deposit fee, instant arrival, no deposit fee, 1-2 working days to process), NETELLER (accepting AUD, US dollars, EUR, BGP, SGD, 2% deposit fees, instantaneous receipt, no withdrawal fees, 1-2 working days to process), Fasapay (accepting USD, EUR, no deposit and withdrawal fees, instant arrival), DragonPay (free deposit and withdrawal, accepts PHP, instant processing), Bitcoin (a fee of 1.5% is charged for deposits, bitcoin is accepted, and processed instantly).