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WorldFXM
Rating: Rated with 1.5 stars
Binary Option Programs Award
Min. Deposit
$1,000
Min. Investment
N/A
Regulated Broker
No

WorldFXM Broker Review

  1. WorldFXM

    WorldFXM is an unlicensed forex and CFDs broker that offers South African traders 65 of the most popular FX pairs to trade with, a multitude of trading platforms and accounts to choose from, as well as a demo account to practice trading entirely risk-free.

    On the surface, this broker appears to have it all. Our team never trusts first impressions though, and decided to look into WorldFXM a bit deeper and discover whether or not this is another scam in the trading industry.

    Read our full review and verdict of WorldFXM below to find out.

    Account Types

    Like most brokers our there, WorldFXM offers three different account types, depending of course on the minimum deposit. As usual, the bigger the deposit, the more special features are unlocked.

    Before beginning to trade with real money, WorldFXM gives South African investors the opportunity to practice and test their platform through their free demo account.

    Demo Account

    New traders are always encouraged to begin with the free demo account, in order to practice trading entirely risk-free with virtual money. As mentioned above, they also have the opportunity to fully test out the WorldFXM trading platform and become accustomed to the process.

    This is useful for experiences traders as well, to understand how this platform works and whether they prefer it or not to other trading platforms.

    The 3 real trading account that WorldFXM offers are listed below:

    Silver Account

    • $1,000 minimum deposit
    • Choice of fixed or variable spreads
    • Eligible for 30% bonus
    • Flexible leverage
    • Margin calls supported
    • Free VPN

    Gold Account

    • $2,500 minimum deposit
    • Choice of fixed or variable spreads
    • Eligible for 30% bonus
    • Margin calls supported
    • Flexible leverage up to 1:400
    • VPN at minimum charges

    Platinum Account

    • $25,000 minimum deposit
    • Choice of fixed or variable spreads
    • Eligible for 50% bonus
    • Attractive spreads
    • Trader rebate upon request
    • Attractive flexible leverage

    Trading Software

    WorldFXM offers South African investors 65 currency pairs and 35 CFD products to trade with competitive spreads through one of their trading platforms.

    One of the advantages of WorldFXM is the variety of trading platforms it provides. Besides the popular MetaTrader4 (MT4) and their own WebTrader, they also offer mobile trading, social trading, Sirix Crypto and Activ8 trading platforms.

    Check all these platforms and advantages of each below.

    WebTrader

    As the name suggests, the WorldFXM WebTrader is an entirely web-based trading platform. This means it can be accessed directly from their website and does not require any downloads or installations whatsoever.

    This platform is easy-to-use for traders of all experience levels and is compatible on mobile devices.

    MetaTrader4

    The MetaTrader4, commonly known is MT4 trading platform is the most popular trading platform out there. It requires to be downloaded onto your computer, because it is a powerful platform often associated with more professional trading.

    This does not mean that beginners cannot use this platform, for it is especially user-friendly. It depends on what each trader prefers.

    Mobile Platform

    For easy trading on-the-go, anywhere or anytime, South African investors can download the WorldFXM mobile trading app, available on both Google Play and the App Store.

    This is a convenient, fast way to trade, where South African users can check their trades at any time and act in the moment.

    Social Trading

    Complete beginners in trading often prefer social trading platforms like the one WorldFXM has available. This allows a user to copy the trades of other, more experienced investors.

    The WorldFXM social trading platform includes a social stream of the last 100 live trades made by other experienced traders from across the world. This is all in real time, so South African investors can simply copy any trade they like directly from the stream window.

    SIRIXCrypto

    The SIRXCrypto is a web-based trading platform that can be integrated and added to any business to allow cryptocurrency trading. In this way, South African investors can also trade cryptocurrencies with WorldFXM.

    Activ8

    Activ8 is another trading platform that WorldFXM offers for forex trading. This platform can be used by both beginners and experienced traders.

    At the end of the day, it depends on what each investor prefers.

    Customer Support

    South African traders can reach the customer support team at WorldFXM by email, phone, the online contact form on their website or live chat.

    Payment Methods

    WorldFXM is owned and operated by the company CHO Development Ltd and are located at Ajeltake Road, Majuro, Marshall Islands.

    There are various payment methods available to deposit money with WorldFXM. South African investors can either deposit by credit card (Visa, Mastercard, MegaTransfer) or bank transfer (wire transfer).

    Verdict

    After careful review of this broker, we can confidently say WorldFXM should not be trusted.

    They may appear to have it all, but the facts speak for themselves. This is an unlicensed broker, which means they are not regulated under any entity. This is an immediate red flag. WorldFXM also offers many bonus schemes, that are often created to appear appealing to new users, but at the end of the day – have certain terms that do not actually allow withdrawal unless certain conditions are met. Regulated brokers do not offer bonuses – and for good reason.

    Don’t waste your time with unlicensed companies, when you can easily choose to trade with the world-famous regulated broker IQ Option!

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