WorldForex Review & User Rating 2020
WorldForex broker offers customers to trade more than 50 currency pairs as well as different CFDs on the MT4 trading platform.
WorldForex was founded in 2007 and originally belonged to the company registered in the British Virgin Islands.
- Start year:2007
- Country of origin:Vanuatu
- Payment options:bank cards, bank wire, electronic payment systems, Bitcoin
- Minimum account size:$1
- Minimum lot size:0.01 lot
- Leverage:up to 1:500
- Spreads:fixed, variable, from 0 pip
In 2016, the WORLD FOREX trademark was transferred to Existrade Limited which is registered in the jurisdiction of Vanuatu and is licensed by the Vanuatu Financial Services Commission (VFSC).
Vanuatu is an offshore zone for brokers where more loyal requirements are applied to companies. So you should be more careful when investing in offshore brokers. Nevertheless, in 2017, the LE FONTI AWARDS 2017 contest jury announced WorldForex the best forex broker for binary options trading, taking functionality and attractive trading conditions into account.
One more fact about the broker which should be mentioned is that it supports another domain, existrade.com, that is less informative and is redirected to wforex.com.
WorldForex offers several types of trading accounts where a minimum deposit starts from $1. The W-Cent and W-Profi accounts provide fixed spreads, W-ECN – variable spreads. There is no commission on these accounts. One-click trading, trading by advisors, and a leverage of up to 1:500 are available. In addition, there is a special account for W-OPTION binary options. The company offers one option type Higher/Lower with an expiration from 60 seconds to seven days.
Fixed spreads proposed by the broker are average – 2 pips on EUR/USD. Trading terms can be tested on demo accounts, it has a full range of functions like in real trading. The only difference is that you trade virtual money.
Specially for those who are at the beginning of their trading way WorldForex offers a basic training course in forex trading which explains what financial markets, the basics of technical and fundamental analysis are. To receive training materials, a user needs to specify his/her email. This would save time for searching for articles about financial markets on the Internet.
There are some offers that are worth particular attention.
Analytics. It includes a trader’s calculator, news, market reviews, comments, a calendar of events, tender schedule, and asset prices.
REBATE CLUB is a personal affiliate program. Every transaction accumulates trading points which can be exchanged for real money accessible for withdrawal or can be used in further trading. On the broker’s website, you can make preliminary estimates of the number of points.
A personal safe, where funds transferred from trading accounts of different types and different currencies are consolidated into one currency on one account. A cumulative system will be available for those who want to use the service: for USD – 9.5 percent per annum, for EUR – 9 percent per annum, and for UAH – 10.5 percent per annum.
Virtual Private Server (VPS). In contrast to a home computer, the remote server is provided with uninterrupted power. It means that you can trade even without connecting to the network and do not have to worry if you are suddenly disconnected from the Internet. The service activation costs $5.99.
As a majority of brokers, WorldForex supports the reliable MetaTrader 4 (MT4), available in versions for PC, web, and mobile devices. The platform is easy-to-use and provides a number of technical indicators for analysis, the expanded instruments for charting, the extended variants of testing, and a wide range of experts (advisors).
There is a special application for binary options trading — FX Lite BO. The platform supports iPad, iPad 2, iPad mini, iPhone 3G, and later versions, as well as Android 2.2+.
Binary options can be also traded through WebTrader and MetaTrader 4.
WorldForex offers the 100% bonus on deposit and free VPS server for those clients who invest at least $100.
The broker regularly organizes contests, where traders can earn even without investment.
Deposits/Withdrawal of the funds
WorldForex provides its customers with a wide range of payment options: credit/debit cards (Visa, MasterCard, Maestro), bank wire, and digital wallets such as Yandex.Money, WebMoney, Qiwi, OKPAY, BPAY moneta.ru, and bitcoin.
There are telephone numbers for calls to Russia (free call for residents of Russia) and Ukraine, as well as for international calls. Furthermore, you can contact the company by email or live chat. The support service is available 24 hours per day, five days a week, except for weekends.
The website is accessible in six languages including Russian and Ukrainian.