World Forex Review 2024

Highlights of WorldForex

Spread fromEURUSD0pips

Trading Assets

Forex Precious Metals Stocks Energy Carriers Cryptocurrency

Trading Platforms

MetaTrader 5 MetaTrader 4 WebTrader

4/5

More DetailsRegisterTrading CFDs carries high risks. You may lose all invested funds

About WorldForex

Founded in 2007

Countries of registration:

Regulators:

SVGFSAVFSC

4/5

More Details

RegisterTrading CFDs carries high risks. You may lose all invested funds

Countries of registration:

Regulators:

SVGFSAVFSC

Trading Assets

ForexPrecious MetalsStocksEnergy CarriersCryptocurrency

Trading Platforms

MetaTrader 5MetaTrader 4WebTrader

Deposit/withdrawal:

compare WorldForex trading accounts

WorldForex is an international broker regulated in an offshore jurisdiction.

The platform is characterized by low spreads and a wide range of trading accounts, which makes it attractive for traders seeking to minimize trading costs. Popular trading platforms MetaTrader 4 and MetaTrader 5 are available, providing convenience and functionality for trading. Financial transactions are simplified thanks to a wide range of payment systems and the broker's coverage of deposit fees.

However, the broker has a limited selection of products and training materials.

Pros and Cons of WorldForex

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WorldForex Broker Overview

WorldForex was registered in 2007 in the British Virgin Islands. Since 2016, this trading brand has been owned by Existrade Limited.

Clients can use any service provided by the broker. The main one is trading in the Forex market. Training allows one to expand knowledge, and trading conditions allow for immediate practical application. Convenient deposit and withdrawal of funds enable traders to start trading or withdraw their earnings quickly.

WorldForex Review Summary

To evaluate World Forex, we used our broker evaluation methodology. We considered various aspects such as trading conditions, commissions, trading platforms, analytics, and technical support.

Read the World Forex review below for detailed advantages and disadvantages.

World Forex is a member of the Financial Commission (FinaCom), and the quality of order execution on the broker's platform is analyzed monthly by the VerifyMyTrade service. However, traders should note that WForex is not regulated by the most stringent financial authorities in offshore jurisdictions.

Regulation

Legal Entity	Regulator
Existrade LTD Existrade LTD	SVGFSA SVGFSA
Existrade Limited Existrade Limited	VFSC VFSC
World Forex Corp. World Forex Corp.	-

The current owner of the broker, Existrade Ltd., operates by all international standards for providing brokerage and financial services, as evidenced by the possession of a Vanuatu license No. 300236.

The VFSC (Vanuatu Financial Services Commission) regulates the company's activities and the broker, which guarantees transparent operations of the license holder from this organization.

Also associated with the World Forex holding are companies World Forex Corp. (registered in the British Virgin Islands) and Existrade LTD (registered in St. Vincent and the Grenadines), responsible for software and financial operations.

Membership in The Financial Commission

World Forex is a member of The Financial Commission, an international financial organization that provides extrajudicial dispute resolution and conflict resolution. This indicates that the company has additional protective measures for its clients.

Participation in The Financial Commission program guarantees traders protection through a compensation fund of up to 20,000€ per claim, which is an additional advantage.

Audit and Certification

Monthly audit and certification of orders through VerifyMyTrade ensures transparency and quality of trade execution.

Considering that a minimal amount of information is required for registration and a standard verification process, it can be said that the account opening process at World Forex is quite simple and convenient.

Registration

At WorldForex broker, the registration of a personal account is reduced to a minimum number of fields to fill out. To create a personal account, it is enough to specify an e-mail and create a password for system access. If you have a promo code or a partner ID, indicate them. Your email address will become the login, which you will enter to access your account.

You can log into your account from the website's main page, but before opening an account, the broker will ask you to fill out a personal data questionnaire.

Always provide factual data that can be verified with documents. After an account is opened, the personal information of the broker's clients cannot be changed; it can only be supplemented with mandatory verification against documents.

However, the information requested by the broker will be pretty standard:

• Full name;
• Contact phone number;
• Residential address or registered address;
• Gender;
• Additional email for financial notifications.

Verification

Suppose you want to use all the company's services (receive bonuses, participate in contests, carry out financial operations). In that case, it is necessary to go through verification - documentary confirmation of identity and residential/registered address.

To start the verification process in the personal account, go to the "Security" section -> "Verification." In this section, you can upload documents confirming:

• identity;
• residential or registered address;
• possession of a bank card or bank account.

Also, in this section, you can verify your phone number.

Trader's Cabinet Overview

After registration and verification, full access to all services and features of the WForex broker is available in the trader's cabinet. In the trader's cabinet, you have the opportunity to:

• open and manage trading and personal accounts;
• conduct any financial transactions;
• receive bonuses and participate in broker's promotions and contests;
• join the Rebate Club;
• participate in the WorldForex affiliate program.

Minimum Deposit

One of the significant advantages of working with WForex broker is no minimum deposit requirement. This means you can start trading with any amount you deem appropriate. This approach makes trading in financial markets accessible to many traders, regardless of their initial capital.

Many different account types available for trading cater to the needs of both beginners and experienced traders. At the same time, the presence of specialized accounts such as Swap Free and VPS makes WorldForex's services even more attractive to technical and seasoned traders.

Forex and CFD Trading Accounts

WorldForex offers its clients 5 accounts for Forex and CFD trading and 1 account for binary options trading.

One-click trading is available for all types of accounts, and the ability to work on mobile and web versions of the trading terminal.

Beginners are best suited to choose a cent account with fixed spreads of 1.8 points. For more 'advanced' traders, the W-PROFI account type would be suitable, where one can trade with a standard lot size and a minimum contract step. This account has floating spreads from 0.6 points and instant execution of transactions.

An annual interest of 8.5% is accrued on the balance of funds on all accounts except for W-CRYPTO.

Binary Options

Trading binary options is becoming increasingly popular among traders. Clients only need to predict whether the underlying asset's price will rise or fall.

Binary Options Trading Conditions

• Easy to execute a trade. You specify the investment amount, then choose an asset, a specific expiration time, and the direction.
• Just 60 seconds. You can see the result of the trade even after a minute.
• Fixed risks. You can only lose the amount invested in the trade. Your potential profit and loss are known in advance and do not depend on the number of points.

The main advantage is that your profit does not depend on the situation in the financial market.

Opening an Account for Trading Binary Options

To start trading binary options with the broker WorldForex, you must open a W-DIGITAL account.

Types of Binary Options at WForex

When working with a W-DIGITAL account, the broker has access to 2 types of options:

1. American with the prefix 'ab'. It can be closed early. In this case, one should consider the freezetime, which determines the period during which an option can be closed early immediately after purchase and before the expiration time. Early closure entails an additional commission of 40% of the investment amount in the option.
2. European with the prefix 'b'. In this case, it is possible to recover part of the investment if the forecast is incorrect.

For these types of options, profitability can reach up to 100% depending on the expiration term, whereas for the Forex option 0-100, profit and loss always amount to 100%.

Demo Account

To learn how to profit in the Forex market without risking capital, WorldForex broker offers its clients to open a practice demo account, the trading conditions of which are identical to real ones.

You can trade with leverage ranging from 1:33 to 1:1000 on the demo account, allowing risk management.

Training is conducted on one of the trading platforms – MetaTrader 4 or MetaTrader 5. The trader chooses the deposit size, but the broker recommends practicing with the amount you plan to open a real account with.

The practice account allows you to gain practical experience in trading on the Forex market and test strategies and advisors absolutely free of charge. Opening a practice account is possible immediately after completing the registration process.

Swap Free Accounts

Swap Free — special accounts that do not accrue swap. Using this type of account, you only pay a fixed commission, which is independent of the interest rates of the currency-issuing banks. A fixed commission is charged for carrying over a position to the next day, which depends on the currency and the number of open lots. This type of account allows clients of the Islamic faith to trade without violating Sharia laws.

Trading Accounts for Connecting Swap Free

• W-PROFI
• W-CENT

Connection is made when opening one of the above accounts, check the swap free box.

Commissions for Swap Free Accounts

The commission for using the service is charged daily at 00:00 server time.

Copy Trading

The "Trading Signals" service allows clients of the World Forex broker to copy trades of more successful colleagues into their accounts automatically. To do this, you need to subscribe to the signals of a trader you like.

If you are pretty adept at trading, you can earn additional income by becoming a "signal provider" on a paid basis.

To use this service, you need to register on the "Trading Signals" service site after opening an account and installing the trading platform. Then, you choose a signal provider from the offered ranking and perform the necessary terminal settings.

For the correct operation of the service, it is also advisable to use a VPS server, as round-the-clock operation is implied in auto trading.

Detailed instructions from WForex for connecting auto trading signals are in the link.

VPS

For fans of algorithmic trading, the WForex broker offers a VPS (Virtual Private Server).

Advantages of ordering a VPS from WForex

• they will configure and install all the necessary programs for the VPS to function;
• uninterrupted power supply and round-the-clock monitoring by the broker;
• VPS management via RDP (Remote Desktop Protocol);
• maximum security and minimal delays.

Technical specifications of WForex VPS

How to Order VPS

Two simple steps:

1. register at World Forex;
2. submit a request to the VPS support department.

After paying for the ordered VPS, you will receive the server access details.

Low spreads make trading accessible, but high swaps and standard margin rates can increase the overall cost of trading, especially for traders using long-term trading strategies.

Trading Commissions

The central trading commissions at WorldForex are spreads and swaps. Spreads are the difference between the bid and ask prices of a currency, while swaps are the fee for carrying over a position to the next day.

Spreads and Swaps

Spreads at WorldForex are relatively low compared to the market averages, making trading more profitable. At the same time, it should be noted that swaps at this company are pretty high. This can negatively impact long-term trading, especially for traders who keep positions open for several days.

Below are the spreads and swaps for major currency pairs on the W-PROFI account.

Margin Rate

At WorldForex, the margin rate is 8.5%. This means traders using leverage will be required to pay this rate as interest for using borrowed funds. This is standard practice in the industry, and WorldForex's margin rate aligns with the market average.

WorldForex offers convenient and relatively quick methods for depositing and withdrawing funds, but high commissions for withdrawals from payment systems can sometimes be a problem for clients.

Deposit Methods

Payment System	Currencies	Deposit Fee	Operation Limit
Payeer	RUB		from 10 RUB
Perfect Money	USDEURRUB		from 1 USD
AdvCash	USDEURRUB		from 1 USD
Moneta.ru	USDEURRUB		from 10 RUB
Apple Pay	USDEURRUB		from 300 RUB
Google Pay	RUB		from 300 RUB
Wallet One	KZT		from 350 KZT
Swift	USDEURRUB. . .show all		from 200 USD
Visa	USDEURRUB. . .show all		from 30 USDfrom 30 EUR
Mastercard	USDEURRUB. . .show all		from 30 USDfrom 30 EUR
Сбербанк Онлайн	RUB		from 1 USD
Тинькофф Банк	RUB		from 1 USD
Альфа Банк	RUB		from 1 USD
Промсвязьбанк	RUB		from 1 USD
Русский Стандарт	RUB		from 1 USD
Homebank.kz	KZT		from 350 KZT
Privat24	UAH		from 30 UAH

Cryptocurrency	Blockchain	Deposit Fee	Operation Limit
BTC (Bitcoin)	BTC	0%	from 10 USD
DASH (Dash)	DASH	0%	from 1 USD

The broker does not charge a fee for depositing and withdrawing funds. However, possible fees from payment systems should be considered.

The account funding period is up to 5 business days for bank transfers and within one day for other methods.

Withdrawal Methods

Payment System	Currencies	Withdrawal Fee	Operation Limit
Payeer	RUB	1%	—
Wallet One	KZT	0%	—
Moneta.ru	USDEURRUB	0%	—
Perfect Money	USDEURRUB	3.8%	—
AdvCash	USDEURRUB	1.5%	—
Apple Pay	USDEURRUB	2.5%+ 50 RUB limitscommission limits	—
Google Pay	RUB	2.5%+ 50 RUB limitscommission limits	—
Swift	USDEURRUB. . .show all	0% limitscommission limits	—
Mastercard	USDEURRUB. . .show all	4%+ 5 USD limitscommission limits	—
Visa	USDEURRUB. . .show all	4%+ 5 USD limitscommission limits	—
Homebank.kz	KZT	2%	—
Альфа Банк	RUB	2.5%+ 50 RUB limitscommission limits	—
Русский Стандарт	RUB	2.5%+ 50 RUB	—
Privat24	UAH	3.5%+ 20 UAH	—
Тинькофф Банк	RUB	2.5%+ 50 RUB	—
Промсвязьбанк	RUB	2.5%+ 50 RUB	—
Сбербанк Онлайн	RUB	2.5%+ 50 RUB	—

Cryptocurrency	Blockchain	Withdrawal Fee	Operation Limit
BTC (Bitcoin)	BTC	0%	—
DASH (Dash)	DASH	0%	—

The funds transfer is done within 2 business days after creating a withdrawal request in the personal account.

Deposit Bonuses

Currently, the broker provides its clients with a decent set of Forex bonuses.

World Forex offers access to various financial instruments, including currency pairs, metals, oil, CFDs on stocks, and cryptocurrencies. However, the lack of soft commodities, such as grains, coffee, and sugar, the absence of equity indices, and a generally small number of CFDs may limit opportunities for portfolio diversification and trading across various markets for traders.

Which markets are available?

World Forex's range includes financial instruments:

Leverage

Leverage in trading is a tool that allows investors to increase their market exposure beyond the initial investment (the margin). However, while leverage can magnify profits, it also increases the potential for higher losses. Therefore, it's crucial for traders to use leverage cautiously and to understand the risks involved.

The leverage WForex offers varies based on the account type, balance of funds, and the trading instrument. The table outlines the maximum leverage available depending on the trading instrument.

World Forex trading platforms offer a wide range of functionalities and ease of use, although the broker does not provide an alternative to MetaTrader for mobile and desktop devices.

MetaTrader 4 and 5

MetaTrader 4 and MetaTrader 5 hold a special place in the World Forex range of trading platforms. These are well-known and versatile solutions for traders of all levels. They are available on Windows, MAC, Android, iOS, and Linux and offer a full range of financial instruments: Forex, metals, oil, CFDs on stocks, CFDs on cryptocurrencies, as well as digital contracts. Both platforms are well-adapted for market analysis and trading operations.

For trading digital contracts on MT4, WForex has developed a unique plugin FX LITE, which can be downloaded when opening a W-DIGITAL account.

WebTrader

In addition to the popular MetaTrader terminals, World Forex offers its clients the online platform WebTrader. It works with both Forex and CFD instruments, as well as digital contracts, is easily customizable, and allows choosing chart types and their color schemes.

World Forex provides a decent set of market analysis tools, including fresh news, expert market reviews, trading recommendations, and an economic calendar. However, the analytics section could be more diverse and include additional analytical tools or signals for better trader support.

What analytical materials are available?

Daily, the broker provides its clients in the 'Analytics' section with:

• fresh and relevant economic news;
• market reviews from in-house experts;
• trading recommendations for various types of instruments;
• an economic calendar of events in the Forex market;
• a trading schedule;
• a trader's calculator.

Trader's Calculator

The trader's calculator allows you to calculate the amount of free funds required to open a new position in advance.

Market Reviews

A helpful section – market reviews. It is constantly updated, only publishing the latest news. This helps traders understand the market situation and base their strategies on the information obtained.

The education section provided by World Forex offers essential information for beginners but is limited in the scope and formats of education. Expanding and diversifying educational materials could enhance its usefulness and appeal to traders.

What educational materials are available?

The educational block for beginners from World Forex is relatively modest and consists of articles on 'What is Forex?' and 'How to Trade.'

Also, in the 'Support' section, one can find a glossary of terms and a tab for beginners – recommended literature with theoretical courses from World Forex. To consolidate the knowledge acquired, the broker offers a free demo account.

The technical support section of World Forex offers a variety of communication channels, ensuring accessibility and convenience for clients.

How to contact support?

A client of World Forex broker can contact the technical support service 24 hours a day, 5 days a week:

• by calling the hotline;
• in the online chat;
• by writing an email;
• by filling out the feedback form on the company's website.

Conclusion

World Forex offers traders a variety of trading accounts and competitive conditions with low spreads, making it an attractive choice for clients interested in saving on trading costs. Support for the popular MetaTrader 4 and MetaTrader 5 trading platforms guarantees a high level of convenience and functionality, while a large selection of payment systems and the broker's coverage of deposit fees simplify financial transactions.

WForex is best suited for active traders who prefer short-term trading and can take advantage of low spreads and a wide choice of payment systems. The broker will be less attractive for beginners due to the lack of training resources and for those looking for long-term investment opportunities due to high swaps.

FAQ

Is WorldForex legit?

Yes, WorldForex is a legitimate broker. It is regulated by SVGFSA in Saint Vincent and the Grenadines and VFSC in Vanuatu.

Which country is WorldForex from?

WorldForex is registered in St. Vincent and the Grenadines, which is known for its lax financial regulations.

Is WorldForex an ECN broker?

No, WorldForex isn't an ECN (Electronic Communication Network) broker.

How does WorldForex make money?

WorldForex makes money through spreads (the difference between the buy and sell price of an asset) and commissions on trades.

Is WorldForex good for beginners?

Yes, WorldForex is suitable for beginners, offering beginner-friendly trading platforms and dedicated customer support to help new traders navigate the Forex market.

Does WorldForex offer a demo account?

Yes, WorldForex offers a demo account for traders to practice before committing real funds.

How can I open an account with WorldForex?

You can open an account with WorldForex by visiting their website, clicking on the "Open an Account" button, and following the registration process, which includes filling out personal information, verifying your identity, and funding your account.

How can I delete my WorldForex account?

To delete your WorldForex account, you need to contact their customer support team via email or live chat and request an account closure. They will guide you through the necessary steps.

What is the minimum deposit for WorldForex?

WorldForex reportedly has a minimum deposit of $1, which is quite low compared to other brokers.

What is the maximum leverage on WorldForex?

WorldForex offers leverage up to 1:1000, which is a very high amount. High leverage can amplify both profits and losses, so it's important to understand the risks involved before using it.

How do I deposit funds in an WorldForex account?

The available deposit methods for WorldForex are bank transfers, credit cards, cryptocurrencies, and e-wallets.

How do I withdraw money from WorldForex?

To withdraw money from WorldForex, log in to your account, go to the withdrawal section, choose your preferred withdrawal method, enter the amount, and follow the on-screen instructions.

Does WorldForex provide VPS?

Yes, WorldForex provides VPS (Virtual Private Server) hosting.

Is WorldForex suitable for scalping?

WorldForex allows scalping due to its low minimum deposit and potentially tight spreads.

Is WorldForex suitable for auto-trading?

Yes, WorldForex supports auto-trading and is compatible with various trading platforms and tools, including MetaTrader 4 and MetaTrader 5, which facilitate automated trading strategies.

Is WorldForex suitable for hedging?

WorldForex allows hedging strategies.

Is WorldForex suitable for spread betting?

No, WorldForex does not provide spread betting.