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World Forex broker review - reviews of the financial scammer, what deception schemes scammers use
World Forex is a leading international broker providing access to financial markets since 2007. The project is aimed at a wide range of clients, from newcomers to the world of financial markets to experienced traders. However, cases of fraud related to the company’s activities are actively discussed on the RuNet, which raises certain concerns among potential clients.
|Year of foundation
Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont Kingstown St.Vincent and the Grenadines
8 (800) 555-78-99
- MetaTrader platform support
- Offshore registration
- No license
- Negative reviews
MetaTrader 4, WebTrader, FX Lite
|Types of accounts
W-CENT, W-PROFI, W-INSTANT, W-ECN, W-CRYPTO, W-DIGITAL, Demo
RUB, EUR, USD, UAH
Bank card (Visa/MasterCard), Advcash, Moneta.ru, Perfect Money, Apple Pay, Samsung Pay, Qiwi, Webmoney, Payeer, Cryptocurrencies, WireTransfer, Alfa Bank, Privatbank, Promsvyazbank, Tinkoff
0 points, fixed – from 1.8
What is known about the WorldForex broker
According to the administration, the company was founded in 2007. The organization is registered under the name Existrade LTD in Saint Vincent and the Grenadines, which is a popular jurisdiction for financial scammers due to its liberal legislation. It seems that scammers are simply using someone else’s certificate of incorporation.
Sharaga did not provide specific information about financial regulation or the presence of licenses, which raises questions about the legality and transparency of the activitiesWorldForex official website the project is used by scammers solely to disseminate deliberately false information:
- there is no mention of the presence of regional offices, which may indicate a centralized management structure;
- Sharaga offers support in several languages, which is convenient for international clients;
- the broker serves more than 350,000 clients from 50 countries, which indicates significant market coverage.
WForex is a broker with a long history in the market, however, the lack of transparency regarding financial regulation and licensing, as well as the anonymity of management, may cause some concern among potential clients.
There is not a single scanned copy of legally important documents on the official website of the project. In Russia, sharaga operates illegally. Experience in financial markets is also not confirmed. All these factors only contribute to increasing distrust in the company.
Terms of trading with WForex
The broker offers trading on the popular MetaTrader 4 and MetaTrader 5 platforms, which are the industry standard due to their functionality, ease of use and technical analysis capabilities. These terminals support a wide range of trading instruments, including currency pairs, metals, oil, as well as CFDs on shares.
In terms of trading accounts, World Forex provides a variety of options, including standard and ECN accounts, allowing traders to choose the most suitable terms depending on their trading style and experience. The company also provides the ability to copy trades of successful traders through the WFCopy service, which can be attractive to novice investors who want to benefit from the strategies of experienced market participants.
Additional investment offers include loyalty programs, deposit bonuses and cashback for active trading, which makes cooperation withWorld Forex personal account required to participate in the listed systems.
Key trading parameters:
- minimum deposit: set at just 1 US dollar, which makes entry into the market accessible to a wide range of investors;
- leverage: reaches a maximum of 1:1000, providing traders with significant opportunities to increase potential profits;
- bonuses: include 100% deposit bonus and other promotions;
- spreads: vary depending on account type and instruments traded;
- additional fees: scammers rule out the presence of hidden fees, but user reviews say otherwise.
The trading conditions are described very superficially. There is a feeling of understatement on the partWorld Forex Investments projects are associated with objectively high risks, because the scammers do not disclose contract specifications and information about liquidity providers.
World Forex broker exposed
The management company World Forex Corp, which owns the brokerage firm, is registered in the offshore zone of Vanuatu. Scammers methodically focus on jurisdictions with a very low level of investor protection. The main concern is that the counterparty is not subject to any regulation, making investing potentially risky.
The lack of regulation is critical because it means that the broker is not subject to any financial regulations or standards that are usually intended to protect investors, which creates risks related to the safety of client funds and the integrity of trading transactions.
World Forex offers dynamic trading leverage ranging from 1:33 to 1:1000. While high margins may seem attractive for increasing profit potential, they also significantly increase risks, especially for inexperienced traders. The minimum deposit to open a starting account is only $1, which is designed to attract traders, but does not guarantee the reliability and safety of funds.
The office offers trading in a variety of financial instruments, including currency pairs, indices, stocks and commodities. However, it is important to remember that due to the unregulated status of the company, trading is carried out exclusively within the project. Investors are forced to open trades against the brokerage firm. The counterparty is interested in users losing money.
Considering the above, cooperation with a scam carries significant risks. The lack of regulation and transparency, as well as questionable trading conditions, make this broker a potentially unsafe choice for investors. The founders of the office hid behind anonymity. This only increases mistrust, because it is financial scammers who are afraid of publicity.
To the eventWorldForex pretends to be a legal broker, but in reality it works on the principle of a cheap kitchen. Gullible beginners are offered to trade on a manual platform with adjusted quotes. Earning money in such conditions is self-deception. Cooperation with the project will end in large-scale financial losses. There is no chance of a positive trading outcome.
Reviews about the broker WorldForex
Practicing traders do not recommend that beginners trade with WorldForex reviews investors are shown a wide range of risks of cooperation, most of which are absolutely unrelated to trading, opening and closing transactions.
Artem-usd user expresses doubts about the advisability of replenishing his account after studying information about the platform. This indicates potential issues with transparency and trust in the broker. The counterparty does not really explain what trading conditions it offers.
An investor under the nickname noyname highlights problems with delays in closing positions and technical failures leading to loss of funds. This indicates the unreliability of the trading platform and possible manipulation. Terminal service is at a critically low level.
Scotttup and Yvonnehox accuse the firm of market manipulation and interference in trading, which is a serious complaint and indicates possible fraudulent activities on the part of the broker. Gerrystigo and Bourgeois mention problems with customer service and delays in withdrawals, which further undermines confidence in the project.
Danil and Valery express general dissatisfaction with the broker’s services, mentioning scam and unreliability. Roshchin goes further, calling the company a scam. The comments clearly show why investors are afraid of cooperation withWorldForex review complaints once again confirmed the fears of users.
Beginners definitely don’t need to mess withWForex, because the project was created by experienced financial scammers. If the trader has already made a deposit and realized too late the illegal actions on the part of the office, you need apply for a chargeback. This is the only way to compensate for financial losses.
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