WorldFxm. What you need to know about them
Brokers. Some are reliable and ensuring that you can make a success of trading. Then, there are those brokers that are there to scam people and to steal their money. This is why you should make sure that you are getting all the right information before you can choose your broker.
WorldFxm is one of the online brokers that you can make use of. But, are they those that you can trust, or those that you should leave alone? With all this information, you will know exactly what they are and if they are trustworthy or not.
Info about the brokers
WorldFxm is situated in the Marshal Islands. Making them offshore brokers. They are forex and CFD brokers with a variety of cryptocurrencies to choose from.
With further investigation, we found a legit address, email address, and telephone number. But, with the registration information, we found some problems.
Are they registered and regulated?
The first question that you should ask, is if they are registered and regulated. This is the most important aspect that you should know. And, this is where the problems with this broker start.
WorldFxm isn’t registered or regulated. Making them a huge risk to use. There are claims that they are registered, but this isn’t true information. Because they aren’t registered, they aren’t regulated either. Using a service that is regulated is essential. This is the only way that you can make sure that you are going to get a service that is controlled by professionals.
Great things about WorldFxm brokers
There are a couple of good things about WorldFxm. Things that traders convince to start using them. One of the great things about these brokers is the fact that they are using one of the best and most popular platforms on the market. They are making use of MT4. The platform that most traders know and trust.
They also offer many tradable instruments. Making trading better and profit larger. However, this isn’t the only things that you should look for when choosing a broker.
Account and deposit info
WorldFxm offers three different account options. It is the Silver, gold, and platinum. The problem that we have with these accounts is the lack of information about it. Only with the silver account, there is any information about the minimum required a deposit that you need to pay.
It is important to know the minimum required a deposit before you can sign up with any broker. And, with the silver account’s deposit so high, how high is the other account’s deposit going to be. There are other brokers that are more trustworthy and that is giving all the necessary information about the deposit that needs to be paid. A sign that there might be something wrong with WorldFxm.
Terms and conditions not standard
It was hard to find the terms and conditions of WorldFxm. However, we did find it, and it seems like that their terms and conditions aren’t standard. Not to the regulations of the regulators.
Terms and conditions are essential to know. This is the rules that you need to obey in order for you to trade successfully. If you don’t follow their rules, they can cancel your account and take all the money in the account for them. Without being regulated, they can change their terms and conditions without prior notice.
Company history is absent
Something that is strange about WorldFxm, is the fact that there isn’t much information about their company’s history. The only things that we could have found were the address, email, and telephone number. There isn’t any information about the founder or year that the company has started.
The question that we are asking, is why there isn’t any information about the company’s history. Might it because there isn’t a company to start with?
No demo account
We couldn’t find a demo account. A demo account lets you trade with the brokers without using real money. This is to see what they are offering. It is also a great way to see if they are reliable and trustworthy.
With WorldFxm, there isn’t a demo account. Meaning that you will not be able to see if they are using the real MT4 and if they are as trustworthy as they claim to be. Without a demo account, you need to deposit money and trade with real money. And, this can be dangerous if the brokers aren’t trustworthy.
What are regulators saying about the brokers
What are regulators saying about WorldFxm? They are warning traders about using them. The brokers aren’t to be trusted and aren’t regulated. Making them really risky to use. And, with all the other negative things about them, makes them not the best brokers to use. There are a couple of warnings out about WorldFxm.
With the variety of brokers, you can find online, you need to make sure that you are choosing the right one. If you are considering using WorldFxm, you need to know that you might not make the best decision. There are many reasons why they aren’t the best brokers on the market and why you should consider choosing another broker that is more trustworthy and that isn’t blacklisted by the regulators.