World Forex is regarded as among the fastest growing Forex brokers in the industry. It has garnered two awards in 2015 and 2017: the Best FX Broker for Digital Contracts Trading by MasterForex-V and the Forex & Digital contracts on one Platform of the Year by the version of LE FONTI.
World Forex Security and Licenses
World Forex is a member of The Financial Commission, an international agency dedicated to dispute resolution within the financial services industry in the foreign exchange market. This membership entails each client of World Forex a compensation fund of up to 20,000 EUR for protection against systemic risks in trading.
While World Forex claims that their clients’ safety and comfort are two of its key missions, it is not clear whether this broker is regulated by any government or independent agency. Its official website does not indicate any regulatory papers from any regulatory body, aside from indicating that it is a member of The Financial Commission.
The only regulatory papers indicated on World Forex’s official website is a license and regulation on Existrade LTD Company, which was the company that World Forex’s initial trademark was transferred to in 2016. Existrade LTD Company is regulated by the Financial Services Authority in Saint Vincent & the Grenadines and by the Vanuatu Financial Services Commission. It is still unclear whether World Forex falls under the same jurisdiction as Existrade LTD Company or whether it operates as a subsidiary of it.
World Forex Trading Platforms
World Forex offers two main platforms on its website: MetaTrader4 and WebTrader. MT4 is available not only on the web, but also through desktop and mobile versions.
WebTrader
This is the perfect platform for forex and digital contracts without the need to install software. The WebTrader terminal works directly on your browser with the help of the internet. It offers the same functions and features as the MT4 platform such as basic graphs, one-click execution of trades, and a wide range of analytical tools. Its intuitive interface is easy to navigate and supports multiple languages to cater to a diverse range of clients. If you are looking for a platform that works as good as MT4 but do not want to install any software, WebTrader is the perfect alternative for you.
MetaTrader4
MT4 is the platform for both beginning and professional traders. It was developed to be easily understood, which made it any novice trader’s gateway into complicated trading. It also works well with expert traders who use complex strategies and execute multiple orders. It has state-of-the-art technical analysis tools, one-click order, and fast execution. It is considered the best platform for trading and analysis of financial markets being offered in the market. It is also easy to install and configure since it is available in Windows, iOS, Android, and Linux. It is easy to learn about all financial markets and asset classes through MT4 and its predecessor, MT5. The MetaTrader platforms are known to be efficient and flexible. This is the best option should you want to easily master the full functionality of a trading platform without any difficulty.
World Forex Tools and Indicators
World Forex has an entire page dedicated to analytics on its official website. Some of the analytical tools offered are: an economic calendar, a calculator, and the streaming of daily news and market events. These are referenced by traders when executing orders to grasp the market sentiment before opening or closing any positions on particular assets. Specifically, daily news keeps track of the highs and lows of the current day’s trading session.
World Forex also includes a page for their own company news, which reports all the upgrades and expansions done by the company with regard to their services. A section on Market Reviews reports some of the best trades of World Forex’s most successful traders. This information can be used by traders of any level to study the various factors that affect a trade.
This broker also provides information on ECN/STP technologies to let clients know about the specifications of an ECN account. It also explains how it works in comparison with other accounts. Lastly, World Forex also has Autotrade, which offers several advantages: it guarantees fast execution, can connect to any account type, and offers a free demo account.
World Forex Final Review
World Forex shines in several aspects such as in its offering of analytical tools and indicators, as well as research and analysis. It offers a wide range of materials to choose from, which is important in client satisfaction. This lets traders know that they can rely on the articles and other materials on World Forex’s official website to answer any question they may have about trading. This is also an attractive feature for a global client base. World Forex has many attractive features, one of which are its trading platforms. Both MetaTrader4 and WebTrader are good options for foreign exchange trading since they are both equipped with various tools and indicators, as well as the capability to execute complex strategies.
Still, regardless of World Forex’s great features and functionality, this broker falls short in its security features. It is unclear whether this broker is regulated by any independent or government agency, since it is not clearly disclosed on its official website. Still, its membership with The Financial Commission makes up for the lack of this broker’s regulatory papers. This membership still guarantees each client that they will be compensated for up to 20,000EUR once they become victims to the market’s risks and high volatility.
