World Forex is a forex broker established on January 3, 2018, in Saint Vincent and the Grenadines, primarily offering forex trading services to investors. This broker does not provide services to jurisdictions where it may violate local laws or regulations, such as the United States, Canada, North Korea, Iran, the European Union, and jurisdictions included in the FATF and EU sanctions lists.
Registration Information and Regulatory Status:
According to official information on the World Forex website, its corporate entity registered in Saint Vincent and the Grenadines is Existrade LTD, with a specific registered address at Suite 305, Griffith Corporate Center PO BOX 1510, Beachmont Kingstown, and a company registration number of 24441.
The broker's corporate entity registered in Saint Lucia is Exispro LTD, with the registered address at 1st Floor, The Sotheby Building, Rodney Bay, Gros-Islet, Saint Lucia PO Box 838, Castries, and a company registration number of 2023-00137.
Furthermore, World Forex is a member of The Financial Commission. According to Whois information, the domain name of the broker's official website was registered on June 12, 2004.
Upon verification, the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) lists a company named Existrade LTD, with a registration number of 24426. However, the SVGFSA does not "regulate, monitor, supervise, or license" business companies (BC) engaged in forex trading or brokerage businesses. Regulation is limited only to ensuring BCs comply with obligations stipulated in Chapter 149 of the Revised Laws of Saint Vincent and the Grenadines, the Business Companies (Revision and Consolidation) Act of 2009.
Also, a corporate entity named Exispro LTD, with a registration number of 2023-00137, can be found in the International Business Companies and International Trust Registry (ifc) of Saint Lucia. However, this entity was not found in the financial services regulatory authority (FSRA) of Saint Lucia, nor in other jurisdictions' official financial regulatory agencies.
Meanwhile, The Financial Commission is a self-regulatory organization and not an official regulatory authority, and it does not offer regulation. Therefore, the forex trading services operated by this broker are not under effective regulation.
Opening an Account:
To open an account with World Forex: visit the broker's official website, click "OPEN AN ACCOUNT" on the homepage or "Register" in the top right corner of the web page, enter your personal email address, set a login password, and submit. After submitting, your account will be successfully registered.
Account Types:
World Forex offers six different types of real trading accounts: W-CENT-fix, W-CENT, W-PROFI-fix, W-PROFI, W-CRYPTO, W-DIGITAL.
W-CENT-fix:
- Trading platform: MT4/MT5
- Account currency: USD/EUR
- Minimum deposit: $1
- Minimum margin: $0.13
- Spread: Fixed at 1.8 pips
- Trading leverage: 1:33 - 1:1000
- Minimum price precision: 5 decimal pricing (0.12345)
- Order execution type: Market execution
- Expert advisors: Available
W-CENT:
- Trading platform: MT4/MT5
- Account currency: USD/EUR
- Minimum deposit: $1
- Minimum margin: $0.13
- Spread: Floating spread, starting from 0.6 pips
- Trading leverage: 1:33 - 1:1000
- Minimum price precision: 5 decimal pricing (0.12345)
- Order execution type: Market execution
- Expert advisors: Available
W-PROFI-fix:
- Trading platform: MT4/MT5
- Account currency: USD/RUB/EUR
- Minimum deposit: $1
- Minimum margin: $1.3
- Spread: Fixed at 1.8 pips
- Trading leverage: 1:33 - 1:1000
- Minimum price precision: 5 decimal pricing (0.12345)
- Order execution type: Market execution
- Expert advisors: Available
W-PROFI:
- Trading platform: MT4/MT5
- Account currency: USD/RUB/EUR
- Minimum deposit: $1
- Minimum margin: $1.3
- Spread: Floating spread, starting from 0.6 pips
- Trading leverage: 1:33 - 1:1000
- Minimum price precision: 5 decimal pricing (0.12345)
- Order execution type: Market execution
- Expert advisors: Available
W-CRYPTO:
- Trading platform: MT4/MT5
- Account currency: USD/RUB
- Minimum deposit: $1
- Minimum margin: Not fixed
- Spread: Floating starting from 0 pips
- Trading leverage: 1:1 - 1:25
- Minimum price precision: 4 decimal pricing (0.1234)
- Order execution type: Market execution
- Expert advisors: Available
W-DIGITAL:
- Trading platform: MT4/MT5
- Account currency: USD/RUB/EUR
- Minimum deposit: $1
- Minimum margin: Not fixed
- Spread: Only for digital contracts 0-100, fixed at 1.8 pips
- Trading leverage: Not fixed
- Minimum price precision: For EUR/USD digital contracts, 5 decimal pricing (0.12345); for digital contracts 0-100, 4 decimal pricing (0.1234)
- Order execution type: For EUR/USD digital contracts, market execution; for digital contracts 0-100, instant execution
- Expert advisors: Available
Trading Platform:
World Forex offers the MT4 and MT5 trading platforms with servers provided by World Forex Corp for MT4 and by Existrade LTD for MT5.
Deposits and Withdrawals:
World Forex supports deposit and withdrawal methods through credit/debit cards, online banking, bank transfer, electronic wallets, and more.
Summary:
Traderknows reminds investors that World Forex is a forex broker without effective regulation. Traderknows advises investors to preferably choose brokers with strong regulation and a good reputation for their investment and trading activities, to avoid unnecessary financial losses.
Currently, this broker is marked as 'Suspected of Scam' on Traderknows.
