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World Forex Review 2024

Last updated Jun 22, 2024
WorldForex is trusted. Tested via live trading.

Highlights of WorldForex

WorldForex Logo
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexPrecious MetalsStocksEnergy CarriersCryptocurrency
Trading Platforms
MetaTrader 5MetaTrader 4WebTrader
Deposit/withdrawal:
Payeer Logo
Perfect Money Logo
AdvCash Logo
Moneta.ru Logo
Apple Pay Logo
Google Pay Logo
Wallet One Logo
Swift Logo
Visa Logo
Mastercard Logo
Сбербанк Онлайн Logo
Тинькофф Банк Logo
Альфа Банк Logo
Промсвязьбанк Logo
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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

Pros

  1. Various trading accounts.
  2. Low spreads.
  3. Availability of popular trading platforms.
  4. A wide range of payment systems and broker-covered commissions on deposits.

Cons

  1. Limited selection of educational materials.
  2. There is an absence of soft commodities and indices.
  3. High swaps.

User reviews

Leave a review of your experience:

Rating:

WorldForex Broker Overview

Foundation Year2007
Official Websitehttps://wforex.com
Regulated in CountriesSaint Vincent and the Grenadines, VanuatuMore Details
Minimum Deposit
  • 1 USD
  • 1 EUR
  • 1 RUB
  • 1 UAH
Spreadfrom 0 points
Max Leverage1:1000
Trading Assets
  • Forex
  • Precious Metals
  • Stocks
  • Energy Carriers
  • Cryptocurrency
Trading Platforms
  • MetaTrader 5
  • MetaTrader 4
  • WebTrader
Email Support
  • support@wforex.com
  • money@wforex.com
Hotline Phones
Social Media

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 is in the top 10 of the following ratings:

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.

Reliability and Regulation

Rating:3.6/5

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 EntityRegulator
-

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.

VFSC license for Existrade Ltd.
VFSC license for Existrade Ltd.

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.

Account Opening

Rating:5/5

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.

WForex registration form
WForex registration form

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.

Verification on WForex
Verification on WForex

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.
World Forex Trader's Cabinet
World Forex Trader's Cabinet

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.

Account Types

Rating:5/5

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.

W-CENT-fixW-PROFI-fixW-CENTW-PROFIW-CRYPTO
Account CurrencyUSD центы, EUR центыUSD, EUR, RUB, UAHUSD центы, EUR центыUSD, EUR, RUB, UAHUSD, RUB, UAH
Minimum Deposit1 $1 1 $1 1 $1 1 $1 1 $1
Trading PlatformsMetaTrader 5MetaTrader 4WebTrader
Spreadfixedfrom 1.8 pipsfloatingfrom 0.6 pipsfloatingfrom 0 pips
Commission per Tradeper 1 lot~ 5 $
Trading AssetsForexPrecious MetalsForexStocksPrecious MetalsEnergy CarriersForexPrecious MetalsForexPrecious MetalsEnergy CarriersStocksCryptocurrency
Opened Positions
Leverage1:33-1:10001:1-1:25
Margin Call / Stop Out20% / 5%80% / 20%
Order ExecutionMMSTPMMSTP
Demo Account
Islamic Account
RegisterRegisterRegisterRegisterRegister

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.

Account TypeW-DIGITAL
Trading Platform
  • MT4
  • WebTrader
Account Currency
  • USD
  • UAH
  • RUR
  • EUR
Minimum Deposit1 USD
SpreadFixed from 1.8 points only for Digital Contract 0-100
Expiration PeriodsFrom 1 minute to 7 days
Profit CalculationUp to 100%
Investment ReturnUp to 14%
Quotation Accuracy
  • American and European digital contracts: 5 digits
  • Digital Contract 0-100: 4 digits
Order Execution Mode
  • American and European digital contracts: Market execution
  • Digital Contract 0-100: Instant Execution
Trading Instruments
  • 25 currency pairs
  • 2 metals
Automated TradingYes

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%.

Types of digital contractsEuropean, AmericanForex digital contracts 0-100
Investment step11
Minimum investment
  • 1 USD
  • 1 EUR
  • 10 RUB
  • 5 UAH
  • 1 USD
  • 1 EUR
  • 1 RUB
  • 1 UAH
Maximum investment
  • 300 USD
  • 250 EUR
  • 15000 RUB
  • 6000 UAH
  • 1500 USD
  • 1200 EUR
  • 70000 RUB
  • 30000 UAH
Expiration periodsfrom 1 minute to 7 daysfrom 1 hour to 5 days
Profit calculation
  • Up to 100% (American digital contract)
  • Up to 85% (European digital contract)
always 100%
Return on investmentup to 14% (European digital contracts only)no
DRAW payout100%no
Early Closing
  • European digital contract - no
  • American digital contract - yes
no
Early closing fee40%-

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.

Opening a demo account on WForex
Opening a demo account on WForex

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

AssetCommission per 1 lot
  • EURUSD
  • USDJPY
  • GBPUSD
  • USDCHF
  • USDCAD
  • EURGBP
  • GBPCHF
  • GBPJPY
  • EURCAD
  • EURCHF
  • EURJPY
  • GBPCAD
  • CADCHF
  • CADJPY
  • NZDCAD
  • CHFJPY
  • AUDNZD
  • #FB
5 USD
  • AUDUSD
  • NZDUSD
  • EURAUD
  • EURNZD
  • AUDCAD
  • AUDCHF
  • AUDJPY
  • NZDCHF
  • NZDJPY
  • EURHKD
  • EURSGD
  • GBPSEK
  • AUDSGD
  • USDSEK
  • USDSGD
  • CHFSGD
  • SGDJPY
  • NZDSGD
  • EURSEK
  • GBPNZD
  • USDHKD
10 USD
  • GBPDKK
  • GBPNOK
  • GBPSGD
  • USDCNH
  • EURHUF
  • #GOOG
20 USD
  • GBPAUD
  • EURDKK
  • EURNOK
  • AUDSEK
  • USDDKK
  • USDNOK
  • USDZAR
  • USDHUF
  • #AMZN
30 USD
  • XAUUSD
  • XAGUSD
  • XPTUSD
  • XPDUSD
10 USD
  • XTIUSD
  • XBRUSD
10 USD
  • #DIA
  • #SPY
  • #QQQ
  • #AA
  • #AIG
  • #AXP
  • #BA
  • #CAT
  • #DD
  • #DIS
  • #GE
  • #HD
  • #HON
  • #HPQ
  • #IBM
  • #INTC
  • #IP
  • #JNJ
  • #JPM
  • #KO
  • #MCD
  • #MMM
  • #MO
  • #MRK
  • #MSFT
  • #PFE
  • #PG
  • #T
  • #UTX
  • #VZ
  • #WMT
  • #XOM
  • #AAPL
  • #BAC
  • #CSCO
  • #EBAY
  • #FDX
2 USD

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.

Trading Signals for MetaTrader 4 in MQL5
Trading Signals for MetaTrader 4 in MQL5

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

Processor4x Octo-Core 2.4Ghz E7-4830
RAM4096 MB RAM ECC
HDD80 GB SSD RAID10
CPU Powerat least 2000 MHz
Traffic 100 Mbpsunlimited
Operating SystemWindows 7/2008
RDP Accessyes
VNC Accessyes
Price per Month5.99 USD

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.

Commissions

Rating:3.5/5

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.

AssetAverage spreadSwap longSwap short
AUDUSD0.9 pips-4.70 pips-2.20 pips
EURUSD0.6 pips-12.30 pips2.80 pips
GBPUSD0.9 pips-7.40 pips-2.80 pips
NZDUSD0.8 pips-3.20 pips-2.80 pips
USDCAD1.1 pips-3.20 pips-6.40 pips
USDCHF1.1 pips3.90 pips-14.60 pips
USDJPY1.1 pips-11.10 pips-18.70 pips

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.

Deposit and Withdrawal

Rating:4.5/5

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 SystemCurrenciesDeposit FeeOperation Limit
PayeerPayeer
RUB
from 10 RUB
Perfect MoneyPerfect Money
USDEURRUB
from 1 USD
AdvCashAdvCash
USDEURRUB
from 1 USD
Moneta.ruMoneta.ru
USDEURRUB
from 10 RUB
Apple PayApple Pay
USDEURRUB
from 300 RUB
Google PayGoogle Pay
RUB
from 300 RUB
Wallet OneWallet One
KZT
from 350 KZT
SwiftSwift
USDEURRUB
from 200 USD
VisaVisa
USDEURRUB
from 30 USDfrom 30 EUR
MastercardMastercard
USDEURRUB
from 30 USDfrom 30 EUR
Сбербанк ОнлайнСбербанк Онлайн
RUB
from 1 USD
Тинькофф БанкТинькофф Банк
RUB
from 1 USD
Альфа БанкАльфа Банк
RUB
from 1 USD
ПромсвязьбанкПромсвязьбанк
RUB
from 1 USD
Русский СтандартРусский Стандарт
RUB
from 1 USD
Homebank.kzHomebank.kz
KZT
from 350 KZT
Privat24Privat24
UAH
from 30 UAH
CryptocurrencyBlockchainDeposit FeeOperation Limit
Логотип BitcoinBTC (Bitcoin)BTC
0%
from 10 USD
Логотип DashDASH (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 SystemCurrenciesWithdrawal FeeOperation Limit
PayeerPayeer
RUB
1%
Wallet OneWallet One
KZT
0%
Moneta.ruMoneta.ru
USDEURRUB
0%
Perfect MoneyPerfect Money
USDEURRUB
3.8%
AdvCashAdvCash
USDEURRUB
1.5%
Apple PayApple Pay
USDEURRUB
2.5%+ 50 RUB
Google PayGoogle Pay
RUB
2.5%+ 50 RUB
SwiftSwift
USDEURRUB
0%
MastercardMastercard
USDEURRUB
4%
VisaVisa
USDEURRUB
4%
Homebank.kzHomebank.kz
KZT
2%
Альфа БанкАльфа Банк
RUB
2.5%+ 50 RUB
Русский СтандартРусский Стандарт
RUB
2.5%+ 50 RUB
Privat24Privat24
UAH
3.5%+ 20 UAH
Тинькофф БанкТинькофф Банк
RUB
2.5%+ 50 RUB
ПромсвязьбанкПромсвязьбанк
RUB
2.5%+ 50 RUB
Сбербанк ОнлайнСбербанк Онлайн
RUB
2.5%+ 50 RUB
CryptocurrencyBlockchainWithdrawal FeeOperation Limit
Логотип BitcoinBTC (Bitcoin)BTC
0%
Логотип DashDASH (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.

PromoWhat's the bonusPromotion terms and conditions
Bonus 100%Get a bonus for every deposit of 100 USD or more and a free VPS.
  • The number of bonuses accrued during the promotion period is unlimited.
  • VPS server is provided free of charge for 30 calendar days and only for one client's profile.
  • The bonus is credited as a credit and cannot be withdrawn.
  • The balance of the trading account does not change when the bonus is credited. The size of the bonus funds increases the margin opportunities for trading operations, thus allowing to increase the trading volume on the trading account.
  • When withdrawing funds from a trading account to which a bonus has been credited, bonus funds are written off proportionally, if any, in the ratio of 1:1.
  • When transferring funds from a trading account to which a bonus has been credited, the amount of bonus funds is debited proportionally to the amount of the transfer at a ratio of 1:1 and is credited to the trading account to which the transfer was made.
Replenishment without commissions0% commission on account replenishment
  • The commission is refundable on all types of trading or personal accounts and is credited in the currency of the funded account.
  • The commission is available for withdrawal.
Jet TradeDeposit X2 when depositing W-PROMO account from 100 USD
  • The bonus is activated on a separate W-PROMO account (available in myAlpari) and can be credited to the following types of trading accounts: W-PROFI, W-PROFI fix, W-CENT, W-CENT fix, W-INSTANT, at the client's choice.
  • The maximum leverage on a trading account with Bonus is 1:500.
  • The bonus cannot be credited to a trading account that has previously received other bonuses.
  • The bonus, including profit, is available for withdrawal on the condition that the required trading turnover on the account, calculated in standard lots, is met in the following amount: bonus amount / 4.
Rebate ClubFive-level loyalty program and Cashback up to 12 USD per 1 lot for trading operations.
  • A club member receives points (club points) for active trading.
  • The number of points depends on the club coefficient, which is calculated by the sum of coefficients of trading history and profile age, as well as the total amount of own funds on the account.
  • Club points can be exchanged for real funds, bonuses, VPS, or used for further trading.

Markets and Products

Rating:3/5

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:

BrokerIC MarketsWorldForexPepperstone
Forex615597
Precious Metals7420
Energy Carriers524
Soft Commodities816
Indices2526
Stocks217546986
ETF38108
Bonds10
Cryptocurrency211730

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.

Trading InstrumentMax. Leverage for Retail Traders
Forex
1:1000
Precious Metals
1:500
Energy Carriers
1:500
Stocks
1:25
Cryptocurrency
1:25

Trading Platforms

Rating:4.5/5

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.

MetaTrader 5
MetaTrader 5

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.

WebTrader - Web Terminal WForex
WebTrader - Web Terminal WForex

Analytics

Rating:4.5/5

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.

World Forex Trader Calculator
World Forex Trader Calculator

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.

Market Reviews on WForex
Market Reviews on WForex

Education

Rating:2/5

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.

Customer Support

Rating:4.5/5

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.
Phones
  • 8 800 555-78-99 (Russia)
  • +7 495 266 60 77 (Russia)
  • +380 44 339 59 38 (Ukraine)
  • +44 870 479 8221 (Great Britain)
  • +66 83 460 00 12 (Thailand)
E-mail

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.

Visit WorldForexTrading CFDs carries high risks. You may lose all invested funds

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.