World Forex: broker’s offers review, reviews
**World Forex: Broker Review, Reviews**
Most fake brokers turn out to be one-day wonders, collecting money from people and then disappearing. Later on, they launch a cloned scam under a different name. However, there are exceptions. Take, for example, World Forex (Wforex).
What is known about the World Forex company?
The World Forex broker cannot be called a newcomer to the Forex market. According to legend, the company has been providing services since 2007. The domain registration date verification confirmed that the website is indeed old – it was launched in 2004.
Initially, World Forex was based in the Virgin Islands (registration number – 142019), but then moved to Saint Vincent and the Grenadines (certificate number 24441). Since 2016, this broker has come under the management of the offshore entity Existrade LTD Company from Vanuatu. According to reviews, problems with trading, contract execution, and profit payouts started after the change in management.
It is worth noting that the authenticity of the registration of the Wforex broker and its parent company cannot be verified. In both Saint Vincent and the Grenadines and Vanuatu, there is no open register of legal entities. It is not surprising that financial fraudsters often register here to evade the law. The Vanuatu Financial Services Commission (VFSC) is listed as the regulator. We checked the data – the certificate is valid.
However, the offshore regulator will not help Russian traders collaborating with World Forex (the main traffic flow to the platform comes from the post-Soviet republics).
For any broker to operate legally in Russia, they must register as a legal entity in the country, become a member of a professional self-regulatory organization, and obtain a license from the Central Bank. Otherwise, they will have to blame themselves and complain in reviews that no one cares about their problems. The main supervisory authority has repeatedly warned about the danger of registering on platforms of offshore entities.
According to legend, every client registered on the World Forex website can expect compensation of up to 20,000 euros from The Financial Commission. Clients note in reviews that all of this is blatant lies!
We checked the information about The Financial Commission and found out that it is a fake regulator that only promises to protect traders’ rights but actually sides with fraudulent brokers, from whose hands it profits. Do not expect to get your money back; you may have to say goodbye to it. User reviews confirm this.
What does World Forex offer?
Currently, Wforex behaves exactly like a fraudulent company, using purely “kitchen” methods:
- 100% deposit bonus. This is a typical scam used by many financial fraudsters,
- Downloading terminals (MT4 and MT5) directly on the pseudo-broker Wforex platform. Investors note in reviews that charlatans provide manipulated software, which they later use to drain others’ deposits into their own pockets,
- Up to 1:1000 leverage. This is simply an unrealistic leverage, confirming the scammers’ desire to corner traders and make them work off fake debts (according to reviews, most users lose money due to fake recommendations from Wforex employees themselves),
- Opaque cooperation conditions. Before registering on the World Forex platform, carefully read the user agreement and other documents regulating the rights and obligations of the parties. You will see that making a profit with this broker is impossible! Moreover, this entity does not intend to return even the initial deposit.
Users are promised access to trading with over 200 instruments, assistance in the form of education and analytics, and a demo account. The ability to withdraw funds is not confirmed by reviews.
Let’s review the available World Forex accounts:
- “W-CENT”. Minimum deposit – from 1 dollar (this is consistent for all types of World Forex accounts). Conditions include: fixed spread from 1.8 pips, leverage up to 1:1000, margin for a trade – 1.13 dollars, execution modes – Market execution and Instant Execution,
- “W-PROFI”. Differs from the previous account only in that it promises market order execution,
- “W-ECN”. Features include: floating spread from 0.2 points, leverage – up to 1:500, margin for a trade – 2.6 USD,
- “W-INSTANT”. Traders have access to: fixed spread from 2 points, leverage from 1:33 to 1:100, minimum margin for a trade – 1.3 dollars,
- “W-CRYPTO”. Within the Wforex account, promises include a floating spread from zero, leverage ranging from 1:1 to 1:25, and a trade margin starting from 0.1 dollar.
Client reviews about Wforex
The World Forex company has been caught manipulating ratings. Independent forums immediately block such reviews:
While neutral comments about World Forex were encountered earlier, now all accuse it of fraud and blatant deception. Negative reviews abound:
World Forex Scam Scheme Review
World Forex attracts clients through the typical financial pyramid principle – it is promoted through an affiliate program and generously pays those who want to earn on referrals. Novices are enticed by the opportunity to practice on a demo account, unbelievably fantastic leverage, and a minimum deposit of 1 dollar.
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Conclusion of the Wforex review
World Forex is not a company where you can make money. This fallen broker has received a lot of negative reviews and is on the verge of collapsing. However, these fraudsters will not miss the chance to swindle another gullible person. Be cautious, do not let World Forex deceive you!
My experience with World Forex broker was absolutely disappointing. Unexpected and unexplained fees began cropping up almost immediately, and the customer service was far from satisfactory when I tried to resolve these issues. The platform is not user-friendly, making it incredibly difficult to navigate. Making withdrawals has been a major problem, with extensive delays and a lack of transparency. Furthermore, the slippage is unreal and has caused significant losses in my trades. Overall, World Forex has proven to be unreliable and untrustworthy. I wouldn’t recommend it to anyone. Keep your investments safe and look for a more reputable, user-friendly broker.