World Forex Review – Trade Digital Contracts and Forex in one Place
World Forex is a comprehensive trading platform that provides traders worldwide access to the global foreign exchange market. In addition to Forex, World Forex also offers digital contracts for trading, keep on reading our World Forex Review to find out more about this Forex and binary option broker!
World Forex Review
If you are looking for a good broker for digital or binary options as well as Forex trading, World Forex may be the way to go! Keep on reading to learn more about the advantages and disadvantages this broker has to offer
World Forex Review Content
Advantages of Trading With World Forex:
- 100% bonus upon account replenishment.
- Commission compensation during deposits.
- Low entry barrier with a minimum deposit of $1.
- Safe-box account features provide high interest, easy conversions, and fund transfers between trading accounts at official bank rates.
- ECN/STP technology integration eliminates conflicts of interest between broker and trader.
- Availability of auto trading options.
- Wide variety of deposit and withdrawal systems.
- Access to WForex’s exclusive “Forex Guide for the Trader” course.
- Trading digital contracts with potential profits up to 100%.
- Responsive and reliable customer support.
- Innovative trading tools and platforms for an enhanced trading experience.
Disadvantages of Trading With World Forex:
- Absence of a search box on the website makes navigation more challenging.
- No dedicated forum for communication between traders, requiring the use of external platforms.
- Support service response times can take several hours.
- Limited training resources, with a need for video courses and more comprehensive training articles.
- Potential for website and platform improvements to enhance user experience and accessibility.
World Forex Trading Platforms
The platforms offered by World Forex include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and a proprietary webtrader.
Both MT4 and MT5 can be downloaded for free on desktop computers (Windows and Mac). Traders can also access the terminals through major web browsers or by downloading mobile apps.
MetaTrader 4 (MT4)
- Available for free download on desktop and mobile devices
- VPS hosting for improved performance
- Access to trading signals and one-click trading
- 24 graphical objects and 30 in-built indicators
- MQL4 programming language for advanced customization
- Over 2,000 indicators and 1,900 trading robots
- Interactive and customizable charting with nine timeframes
- Supports four pending, two market, and two stop orders
- FX Lite plugin for trading digital contracts
MetaTrader 5 (MT5)
- Free download for desktop and mobile platforms
- VPS hosting for enhanced reliability
- One-click trading and a built-in strategy tester
- 21 timeframes for in-depth market analysis
- 44 graphical objects and 38 in-built indicators
- Six types of pending orders for versatile trading
- Integrated economic calendar for staying informed
- Customizable charts and graphs with MQL5 development environment
- Proprietary platform accessible via major web browsers
- Full trade history for comprehensive performance review
- One-click trading for quick order execution
- Nine timeframes for diverse market analysis
- Analytical objects to enhance trading strategies
- Favorites asset list for easy access to preferred instruments
- Trade forex and digital contracts on a single platform
- Customizable graphs and charts for personalized analysis
- Interactive real-time quotes for up-to-date market information
- Full set of trading orders, including pending orders, for versatile trading options
World Forex Mobile App
World Forex offers mobile trading solutions for its clients by providing MetaTrader 4 and 5 as iOS, Android, and Huawei-compatible mobile applications.
These apps deliver all the features and functionality of their desktop counterparts, allowing traders to easily manage their profiles and execute trades on the go.
Additionally, day traders can benefit from the FX Lite BO app, available for both iOS and Android (APK) devices.
This intuitive and convenient application enables users to trade digital contracts seamlessly from their tablets or smartphones, ensuring continuous access to the markets and trading opportunities wherever they are.
World Forex Instruments & Markets
World Forex provides an extensive range of trading assets and instruments for traders to choose from:
- Trade Brent and Crude oil USD crosses
- Open European and American digital contracts
- Speculate on four metal USD crosses, including Gold and Silver
- Access 53 major and minor currency pairs such as EUR/GBP, GBP/JPY, and USD/ZAR
- Open positions on 10+ popular cryptocurrencies, including Bitcoin, Litecoin, and Ethereum
- Trade 40+ share CFDs from leading global companies like American Express, IBM, Google, and Amazon
World Forex’s digital contracts are a notable feature that allows traders to speculate on whether the price of an underlying asset will be higher or lower than the current price when the contract expires.
These contracts are similar to traditional binary options, with three key components: amount (trade size), direction (up or down), and time (contract expiry).
Expiries range from 60 seconds to seven days, with maximum payouts of 100% for American contracts and 85% for European contracts.
One of the main advantages of digital contracts is that the profit potential is displayed before opening a position, allowing traders to make informed decisions.
World Forex also offers a preliminary calculator, enabling traders to estimate potential gains or losses before executing a trade.
Other notable features include:
- A full refund for Draw Payout
- A minimum investment of 1 USD/1 EUR/10 RUR
- A loss payout of up to 14% for European contracts
- A maximum investment of 300 USD/250 EUR/15,000 RUB per contract.
- Early closing is available for American digital contracts but not for European digital contracts.
World Forex Leverage
WorldForex offers high-margin trading opportunities with leverage up to 1:1000, depending on the account balance.
Accounts with balances between $1 and $1000 can access 1:1000 leverage, while those with balances between $1001 and $5000 have access to 1:500 leverage. The lowest leverage of 1:33 applies to balances of $100,000 or more.
For the W-CRYPTO profile, leverage varies based on the total volume of opened positions, with a maximum of 1:25 for positions of 20 lots or less and 1:1 for positions of 100 lots or more.
A 5% stop-out level applies to all accounts except for the W-CRYPTO account, which has a 20% stop-out level.
World Forex Account Types
World Forex has six live accounts to choose from. How you trade and what you want to trade will determine which profile is best for you to open.
Conditions and costs are different for each profile, but all of them offer market execution, access to MT4 and MT5 (except for W-DIGITAL), a $1 minimum deposit, and flexible leverage.
- W-Cent: This account type is ideal for novice traders and professionals who prefer minimal risk. With a minimum deposit of $1 and a fixed spread of 1.8 pips, it provides an accessible entry point for trading.
- W-Profi: As the most popular account type, W-Profi is tailored for professional traders. It allows account opening in multiple currencies, including USD, EUR, and various national currencies, offering flexibility for experienced users.
- W-Instant: This account type features instant order executions, making it suitable for traders who value speed. With a minimum deposit of $1 and spreads starting from 2 pips, W-Instant offers a balance between accessibility and performance.
- W-ECN: The W-ECN account is designed for traders who seek a transaction execution system free from conflicts of interest between brokers and traders. Offering 35 currency pairs, 4 metals, and oil, W-ECN provides low spreads and a diverse range of trading options.
- W-Crypto: For cryptocurrency enthusiasts, the W-Crypto account enables trading in digital assets. It offers leverage ranging from 1:1 to 1:25 and a minimum contract step of 0.01 coin, allowing traders to engage with the dynamic world of crypto trading.
- W-Digital: This account type focuses on digital contracts, with a minimum deposit of $1 and a maximum investment of $300. W-Digital is an excellent option for traders interested in exploring the realm of digital contracts, offering an affordable and accessible platform to navigate this emerging market. With its low entry barriers and capped investments, W-Digital encourages traders to engage with digital contracts while maintaining a manageable level of risk.
World Forex also offers non-trading accounts in the form of savings client accounts available in USD, UAH, RUR, and EUR currencies. These accounts provide clients with high interest rates, making them an attractive option for those looking to grow their capital outside of trading activities.
Additionally, clients can benefit from the flexibility to convert and transfer funds between trading accounts within the Trader Room at official central bank rates, free of charge. This feature ensures that clients can efficiently manage their funds and optimize their financial strategies, all within the World Forex platform.
World Forex Commissions & Fees
World Forex offers a transparent fee structure for its account types, ensuring that traders are aware of the costs associated with each account. Here’s a breakdown of the spreads and withdrawal commissions for each account type:
- W-Cent: Spreads start from $1.8, and there is a withdrawal commission.
- W-Profi: Spreads begin at $18, and a withdrawal commission applies.
- W-Instant: Spreads start from $20, with a withdrawal commission in place.
- W-ECN: Spreads are as low as $2, and a withdrawal commission applies.
There are no hidden commissions associated with these accounts. However, it is essential to note that a commission is charged for transferring transactions to the next day (swap) in W-Instant and W-ECN accounts.
In contrast, W-Cent and W-Profi accounts offer swap-free trading.
World Forex Payment Methods
World Forex offers a wide range of deposit options, impressing experts with a variety of accepted payment methods. These include:
- Bank wire transfers
- Credit/debit cards
There are no deposit fees charged by World Forex, but third-party charges and exchange rate fees may apply. The minimum deposit requirement for all account types is $1 or equivalent currency, although some payment methods may have their own minimums.
Processing times vary depending on the method used, with instant processing available for most methods, while others, such as bank wire transfers, may take up to five working days.
World Forex requires clients to withdraw funds using the original deposit method. Withdrawals are typically processed within 30 minutes, which is faster than most industry standards. There are no minimum or maximum withdrawal limits, but fees do apply:
- Bank Wire Transfers – Varies by banking beneficiary
- Credit/Debit Cards (Visa and Mastercard) – 4% fee + 5 USD
- Mobile Payment Services (Google Pay and Apple Pay) – 2.5% fee + 50 RUB
- Cryptocurrency (Bitcoin and Dash) – Varies but stated at the time of transaction
- Online Payment Services (Payeer, Perfect Money and ADVCash) – Between 1% and 3.8%
- Internet Banking (Sberbank, Tinkoff, Alfa-Click, Promsvyazbank, Russkiy Standart) – 2.5% fee + 50 RUB
World Forex’s extensive range of payment methods and quick withdrawal processing times provide clients with flexibility and convenience. However, it’s crucial for traders to be aware of the associated fees and processing times for each method to ensure smooth and efficient transactions.
Note that the availability of specific payment methods may vary depending on your location.
World Forex Bonuses
World Forex offers various bonuses and promotional programs to incentivize and reward their clients. Here’s an overview of the bonuses provided by the broker:
- Bonus +100%: This bonus rewards clients with a 100% bonus for each account replenishment of $100 or more, effectively doubling their deposit.
- Return of commission for account replenishment: World Forex Rebate Club provides cashback up to $12 per 1 lot, offering traders an opportunity to receive additional returns on their trades.
- Contest for demo accounts: World Forex hosts contests for demo account users, giving them a chance to win up to $1,400 in prizes.
World Forex Demo Account
World Forex provides a free demo account for all account types, allowing users to practice trading risk-free under real market conditions with unlimited virtual funds and flexible leverage.
These demo accounts are an excellent tool for both novice and experienced traders to familiarize themselves with the features and functionalities of the trading platforms, including indicators, signals, graphical objects, and charts.
To register for a demo account, clients simply need to log in to the client portal, select the desired demo profile via the trading accounts tab, and choose the leverage, account currency, and virtual balance. This valuable resource helps traders gain confidence and develop their trading strategies before transitioning to live trading.
World Forex Customer Support
- World Forex offers 24/7 customer support through multiple channels including email, live chat, online contact form, and phone.
- Live chat feature has a quick response time, with a reply received within one minute during testing.
- Comprehensive help page with a knowledge base covering various topics related to trading, payouts, and platform installation support.
WorldForex Additional Features
World Forex offers a range of additional features to enhance the trading experience for its users. These include:
- Analytics: Day traders can access live market news streams, research analysis, and asset reviews, along with a forex calculator and live price quotes on the official website.
- Education: World Forex provides a comprehensive knowledge base, a free trading course, and a glossary of key terms to support beginners and seasoned traders alike.
- AutoTrade: This feature allows users to connect trading signals to their MetaTrader account and copy successful investors, providing detailed statistics, performance visualization, and risk assessment.
- VPS: The virtual private server (VPS) service ensures uninterrupted operations, full data control, and the ability to control the trading system from mobile devices, available for a standard fee or as part of the 100% joining bonus.
Alternatives to World Forex for Forex Trading: Pocket Option
Pocket Option is a popular online trading platform that offers a wide range of trading instruments, including forex trading. Traders can access over 40 currency pairs, including major, minor, and exotic pairs, along with a variety of analytical tools, educational materials, and trading signals.
With a user-friendly interface and a minimum deposit of only $50, Pocket Option is an excellent alternative to World Forex for traders who want to trade forex and other financial instruments.
Alternatives to World Forex for Digital Options Trading: Pocket Option and Quotex
Pocket Option and Quotex are two excellent alternatives to World Forex for traders who want to trade digital options. Pocket Option provides traders with access to over 100 digital options instruments, including currencies, stocks, cryptocurrencies, and commodities. The platform also offers a demo account, educational materials, and advanced analytical tools to help traders make informed decisions.
Quotex, on the other hand, offers traders over 50 assets, including currency pairs, cryptocurrencies, stocks, and commodities. The platform provides traders with a user-friendly interface, real-time market data, and the option to participate in tournaments and win cash prizes.
With low minimum deposits and various trading instruments, both Pocket Option and Quotex are excellent alternatives to World Forex for digital options trading.
biggest forex broker in the world Final Words
World Forex is a reliable and reputable broker that provides traders with a variety of trading instruments, innovative trading platforms, and extensive educational resources.
The broker’s low entry barrier and flexible leverage make it accessible to both novice and experienced traders, while its diverse payment methods and quick withdrawal processing times ensure smooth and efficient transactions.
World Forex’s digital contracts and forex trading options provide traders with the opportunity to diversify their portfolios, while its auto trading options and VPS service offer advanced traders the tools to optimize their strategies.
While there are some areas that World Forex can improve, such as website navigation and customer support response times, overall, the broker offers a comprehensive trading experience that caters to the needs of traders worldwide.
If you’re interested in trading with World Forex and taking advantage of their impressive range of features, we encourage you to sign up for a free account today.
Plus, don’t forget about the bonus offers available, including a +100% deposit bonus on deposits of $100 or more and free VPS access. Don’t miss out on this opportunity to enhance your trading experience with World Forex. Sign up now!
World Forex Broker FAQs
Does World Forex Offer a Demo Account?
Yes, World Forex offers a free demo account for all account types. The demo account provides users with unlimited virtual funds and flexible leverage to practice trading risk-free under real market conditions.
Is World Forex Regulated?
Yes, World Forex is a regulated broker that is authorized and licensed by the Saint Vincent & The Grenadines Financial Services Authority (SVGFSA). Additionally, World Forex is a member of The Financial Commission, which provides retail clients with fund protection in case of any disputes between customers and brokers. The commission offers compensation up to €20,000 per client to ensure their financial security.
Does World Forex Offer Bonuses to Clients?
Yes, World Forex offers several bonuses and promotional programs to incentivize and reward their clients. These include a 100% deposit bonus on $100 or more deposits, cashback up to $12 per 1 lot, and contests for demo account users.
What Payment Methods Does World Forex Accept?
World Forex accepts a wide range of payment methods, including bank wire transfers, credit/debit cards, e-wallets, and cryptocurrencies. There are no deposit fees charged by World Forex, but third-party charges and exchange rate fees may apply.
What is world forex?
WorldForex is a broker for digital contracts (digital options) as well asd Forex trading, read our whole World Forex Review to find out more about this Broker!
What is the minimum deposit for world forex?
The minimum deposit amount is just 1 USD, depending on the method you are using!
Is forex is legit?
Yes, for sure is Forex legit! Forex (Currency Exchange trading) is done for decades now! Forex trading carries a specific amount of risk of losing, but overal its completely legit and can be used to earn money!