WorldForex Review Is wforex.com A Legit Or Scam Broker

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WorldForex Review – Is it scam or safe?

Trading Accounts & Conditions

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
W-Cent $1 0.1 1:500 Fixed at 2.0 pips
W-Profi $1 0.01 1:500 Fixed at 2.0 pips
W-ECN $1 0.01 1:100 From 0.2 pips

WorldForex offers several forex trading account types, for which there is no minimum initial deposit set and besides, no commission fees apply. The W-Cent and W-Profi accounts provide fixed spreads, while floating spread is available on W-ECN accounts. Besides, there is a special binary options trading account.

In fact, the fixed spreads offered by this broker are average, amounting to 2.0 on EUR/USD. Unfortunately, we cannot tell what are the typical variable spreads of WorldForex, as it actually does not offer free demo accounts. For further information, look up the real-time spreads of 15 leading brokers here.

The Company. Security of Funds

WorldForex was founded in 2007 and the company behind the brand was registered on the British Virgin Islands. It offers trading in more than 50 currency pairs, as well as various CFDs on the MT4 platform. In 2020 the WORLD FOREX trade mark was transferred to Existrade Limited, which is registered within the jurisdiction of Vanuatu, licensed by Vanuatu Financial Services Commission (VFSC).

Although this sounds like WorldForex is a regulated broker, this is not exactly the case. Licenses issued by offshore bodies and organizations are basically just shiny pieces of paper. These brokers are not required to meet high capital adequacy requirements, to report transactions, nor to apply strict client protection rules. That is why investing with offshore companies is risky and you�d rather select a broker licensed by some trustworthy financial authority, such as UK�s FCA or Australia�s ASIC, for example.

Another fact worth mentioning about this broker is that it maintains another domain, existrade.com, which is less informative and redirects to wforex.com.

Trading Platforms

Like most brokers, WorldForex supports the robust MetaTrader 4 (MT4), available as desktop, web and mobile versions. This platform is easy to use and offers a number of technical analysis indicators, advanced charting tools, extensive back-testing options, and wide range of Expert Advisors (EAs).

WorldForex offers 100% on-deposit bonus and free VPS server for those clients who invest at least $100.

Methods of Payment

WorldForex offers its clients wide range of payment methods: credit/debit card (Visa, MasterCard, Maestro), bank wire transfer, and e-wallets Яндекс Деньги, WebMoney, Qiwi, OKPAY, BPAY moneta.ru and Bitcoin.

Conclusion

WorldForex is a forex and binary options broker whose trading conditions appear quite reasonable. In spite of this, it is not recommended because it is registered offshore. To sum up the above:

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Pros Cons
MT4 available, bonuses offered Offshore broker
Competitive spreads No demo functioning accounts
No initial deposit required, no commission fees charged No choice of trading platforms
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it�s EU-regulated and there�s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it�s regulated in the UK, offers Metatrader 4 (MT4) and cTrader � where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

World Forex Review

Overview

�World FOREX� � is a Company founded in 2007 on the territory of the British Virgin Islands according to BVI Business Companies Act, 2004. BVI Company � 1420912

Details

Broker World Forex
Website URL www.wforex.com
Founded 2007
Headquarters Govant Building, Kumul Highway, Port Vila, Vanuatu
Support Number +44 870 479 8221
Support Types Telephone, email, feedback form, callback from the site
Languages English, Russian, Thai, Spanish, Ukrainian, etc.
Trading Platform MT4, WebTrader, WFT Mobile, Mobile SE, iPhone World Forex MT4, Android Traider MT4, WForex FX LITE for MT4 (an addition to the ��4 Binary options trade)
Minimum 1st Deposit $1
Minimum Trade Amount $1
Maximum Trade Amount $1500
Bonus Safe account up to 10.5% per annum
Payout Up to 100%
Leverage 1: 500 (up to 1: 200 for W-ECN)
Spread Narrow spreads from 0,2 pips
Free Demo Account Open Demo
Regulated
Regulation Vanuatu Financial Services Commission (VFSC) �300236
Account Types Demo account, W-CENT, W-PROFI, W-INSTANT, W-ECN, W-OPTION, W-CRYPTO
Deposit Methods Bank transfers, VISA, MasterCard, Sberbank Online, Privat24, Alfa-Bank, WebMoney, Yandex Money, Wallet One, OKpay, Qiwi, Bitcoin, Perfect Money, etc.
Withdrawal Methods Bank transfers, VISA, MasterCard, Sberbank Online, Privat24, Alfa-Bank, WebMoney, Yandex Money, Wallet One, OKpay, Qiwi, Bitcoin, Perfect Money, etc.
Number of Assets 60+
Expiry Times from 1 min to 7 days
Types of Assets Currency, metals, CFDs, indices, stocks, cryptocurrencies (Bitcoin, Ethereum, Litecoin, Dash, Ripple, Bitcoin Cash)
Account Currency USD, UAH, RUR, EUR
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score 9.3/10

Full Review

World Forex is a broker company which is no new hand in the Forex market and binary market, has a good image and quite wide range of services. WForex was founded in 2007 and offers to its customers the quality service for binary trading, as well as for earnings in currency markets. The main office of the company has been initially located on the British Virgin Islands.

In 2020 the company became a part of Existrade Limited registered on Vanuatu, thus its business is regulated by Vanuatu Financial Services Commission.
Demo Account

Terms of trade with World Forex

WForex is a major international company with long track record, which works out the service for users offering them many options for gaining profit: these are trading binaries, cryptocurrencies in Forex market etc. As the mature broker with a large set of tools the platform has training materials, analytics along with the free demo account to take initial steps as a trader.

The main direction of the broker is trading binary options. World Forex provides traders with convenient and powerful tools for profit. The Wforex broker offers the following trading conditions:

  • Minimum transaction amount: $1, �1, 10 rubles;
  • Options types: European, American;
  • Expiration: 7 days maximum, 1 minute minimum;
  • Platform: MT4, WebTrader.

To conclude a deal on the World Forex you need to complete just three simple steps:

  • Select the required amount;
  • Determine the time of expiry; and
  • Specify direction.

The educational section on Wforex is composed of series of articles that describe basic principles of trading. This section is useful for those beginners who are more interested in these topics. The broker offers specially designed materials, discussing the foreign exchange market, trading binary options and the basic techniques for working with them. Great attention is paid to the rules of trading. Detailed articles that describe how to properly execute transaction are conveniently available for everyone�s daily reading.

With the depositing of money in your trading account, you will have a special bonus, in the form of additional funds, credited to your trading account. This offers a good chance to increase your income. The bonus amount can be more than $100 and is determined individually for each client.

WForex platform

World Forex offers binaries for trading in one of the most popular by players terminal MetaTrader 4. The advantage of this platform is that it�s familiar to a user, here the impressive range of tools is available � these are indicators, widgets and the entire complex trading systems, a wide range of assets, expiration settings, news and analytics, signals, robots.

MetaTrader 4 is a solution with advanced trading techniques implemented, the program allows testing of any strategies (from scalping to long-term trading) and above all others is interesting for professional players.

The platform instruments:

  • 2 performance modes,
  • 2 market orders,
  • 4 pending orders,
  • 2 stop-orders and trailing stops,
  • 9 time frames,
  • Over 20 analytic objects,
  • Over 30 technical indicators etc.

You are invited to set the plug-in FX LITE for investments into options (here the program .NET 4.5 is requested, which will be provided with the plug-in). There is the �single-click-ease� trading available in terminal, all orders are processed rapidly. The insight into its capacities happens quickly, especially for novices of the options as the interface here is intuitive, settings clear, you just need to set the program and start trading. The software gets along with the popular operating systems: these are Windows, Linux, MAC.

You can also work on the platform WebTrader on the broker�s website, which also contains all the services you need for effective trading, its options are as good as by MetaTrader4.

World FOREX quotations

Wforex broker is a major international company cooperating just with proven agencies, including reliable liquidity providers. The quotations are provided by popular companies, characterized by accuracy, actual for market work. The broker makes every effort for gainful trading on the platform, including this instant processing of orders.

WForex demo account

The broker offers the chance to get to know the platform on a training account. This solution is appreciated by traders, lets them avoid risks of money loss caused by ignorance of terminal operation aspects. The free demo account of WForex will help you not only in studying the broker�s platform, but in testing here the strategies, indicators, try first trading in the market with the virtual capital. And you can start the real trading with confidence, moreover with the broker you trust, as you learned by experience, that it is a fair and reliable company.

World FOREX mobile application

The company follows the contemporary trading trends, so the user can set on his tablet or mobile device the free application FX Lite BO (iPhone, iPad, Android). The program lets the customer get access to the market whenever he needs, wherever he could be at that moment. The application is functional, has all the options you need for work: trade, analysis, deposit and withdrawal, making the options more comfortable.

World FOREX bonuses

World FOREX works out specific loyalty programs and gainful offers to encourage its customers. For instance, the bonus +100% for every deposit in the system. Also a free VPS server is provided on deposit over 100 USD.

Another profitable offer is payment systems commission cancelling in case of cash-in by broker. This is a timeless campaign allowing you to save your funds due to reimbursement of all commissions of the payment systems by company. This money is in full measure available for withdrawal or trading in the terminal. Here also many contests take place offering impressive money prizes.

Deposit and withdrawal

Wforex, like many serious binary options brokers, offers to its clients a sufficient number of options for depositing and withdrawing funds. The main ones among them are:

  • Bank transfers, bank cards (VISA, MasterCard),
  • Internet banking (Sberbank Online, Privat24, Sberbank Online Wire, Alfa-bank etc.),
  • E-payments (WebMoney, Yandex Money, Single wallet, OKpay, Qiwi, Bitcoin, Perfect Money etc.).

Complaints about World Forex

We studied traders� feedback in Internet about the broker and can point that in most cases users trust the platform. Positively pointed usually are the quality performance of support service managers, instant order processing, rapid withdrawal, work in terminal MT4, various bonuses, contests. The customers trust the fair and clear brand.

There are in Internet also traders� negative comments about the platform, more often than not concerning the issues of account block, cancelling of gainful stakes, incompetence of support service managers, as well as withdrawal (above all because of the bonus workout need) etc.

If we find complaints about Wforex, we will post it on social media. Follow us to be well informed:

World Forex broker regulator

The company is licensed under number 300236 and regulated by the Commission for Supervision of Financial Services Markets of Vanuatu. The VFSC organization provides full control over the activities of market participants and ensures compliance with all international standards in the provision of brokerage services of licensed companies. The regulator ensures the integrity and transparency of licensees and confirms that only companies with a high degree of reliability have the right to obtain a license to perform financial activities in the registrar�s jurisdiction.

World FOREX user agreement

�User agreement� between the broker and the customer � that document allowing to comprehend the platform capacities, company�s and customer�s obligations, risks, dispute settlement procedure and so on. This information needs to be studied in order to know how to behave in a certain situation (failures, force majeures etc.), what the broker guarantees. Some paragraphs of the �Agreement� can also effect absolutely not to a trader�s benefit, but they are worth to know about.

For instance, the company is not responsible for her obligations before the customer to have not been carried out because of the lame connection or failures of the software used here, due to which the terminal displays inaccurate data:

The trader needs to keep in mind also another clause of the document mentioning that the broker may cancel transactions of the customer or close his account, if he takes advantage of the �situation� (these are trading conditions, equipment and programs operation) and tries to absorb interest manipulating the information above. That means for example, that the market conditions, which are gainful for the trader and can bring him the profit, may be considered by company against the above background and the earnings will be cancelled:

The broker has every right to require the customer to stop using a trading adviser on the platform, if �the amount of requests to the server exceeds the reasonable limits� and it results in high load on it:

In case of terminal failures or any other issues with the program the company may not process orders of the customers, revise the opening or closing prices, which may be not really gainful for the trader neither, as it decreases the chance that the transaction will happen and be effective at all:

Is World Forex a scam?

The Internet contains plenty of information about Wforex, including user reviews. In the case of Wforex, such information is easy to find, as the company has been around for more than 10 years and its services are being used by a lot of people. Looking at the forums� and various sites� reviews, we were not surprised to find that the positive responses of clients on this broker stand out. After analyzing the main sources and forums, we did not find any serious negative remarks about Wforex. Most of the messages were either wishes to add new options for trading or reviews about Wforex�s quick work. Traders often note that Wforex let the customers withdraw earnings without issue. You can read reviews to see an illustration of this.

Generally Wforex is not a scam as the company is quite well known in the market, provides the good service for its customers along with bonuses, promotional campaigns etc.

Summary

Broker Wforex is able to provide its customers with excellent capabilities for comfortable and successful work and also gives a good start to beginners by providing the necessary training information, with which new traders can learn the principles and different trading strategies. Good technical equipment, the absence of negative feedback from clients, and an honest approach to business make Wforex the best choice for the market. The company is regulated and officially registered and Wforex�s activity is not suspicious or disappointing; this has led to positive feedback and reviews about them.

WForex.com (.ru) Review Visit site

The WForex.ru website is written in Russian. English is one of the option languages available in the upper-right corner of the site’s homepage.

About WForex.com (.ru)

WForex is a forex broker. W Forex offers the MT4 forex trading top platform. WForex.com offers over 50 forex currency pairs, cfds, metals, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

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WForex.com (.ru) profile provided by Melany, Oct 3, 2020

World Forex is an international brand under Existrade LTD group of companies. World Forex provides online trading services since 2007, giving its customers the best trading conditions and impeccable customer service. The company offers a wide variety of trading assets, including currencies, precious metals, stocks, commodities, and digital currencies. The minimum initial deposit in $1 and a wide range of trading accounts types provide the most comfortable environment for all classes of traders. The company�s innovative trading technologies provide an ability to access the financial markets from any place and device. World Forex strives to ensure successful trading experience and financial independence for all their traders around the world.

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