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WorldWide CapitalFX
Rating:
Binary Option Programs Award
Min. Deposit
$300
Min. Investment
N/A
Regulated Broker
No

  1. WorldWide CapitalFX

    WorldWide CapitalFX, also known as Major Options Investment, is an unregulated binary options and CFD broker that claims to offer South African traders up to 95% of profit in only 1 minute.

    The broker is falsely claiming to be licensed, while the British Columbia Securities Commission (BCSC) recently warned worldwide investors to stay away from this company. The BCSC has issued a separate warning against trading with the binary options broker Major Options Investment – which we discovered was the exact same company as WorldWide CapitalFX, operating under a different name and URL.

    Things aren’t looking good so far. So, is WorldWide CapitalFX really a scam?

    Read our full review and verdict below to find out all you need to know.

    The 3 Account Types

    WorldWide CapitalFX offers South African investors a selection of three trading accounts, with a starting deposit of $300. This is more expensive than the most common minimum deposit brokers require of $250 and could make a big difference, especially for beginners.

    Tip: Trade with IQ Option instead, the best licensed broker for South African traders with a minimum deposit of only $10!

    The main problem with these accounts was not the minimum deposit that was higher than usual, but the lack of information on trading conditions each account offers.

    While each account listed bonuses, support information and copy trading tools, there was no mention of spread, leverage or the minimum trade size accepted.

    This information is important for any South African trader and could be the make or break when deciding to deposit with a broker or not.

    Tip: Check out the list where we compare the best forex and CFD brokers for South African traders and choose the one you prefer.

    We have listed all three accounts offered at WorldWide CapitalFX, along with the deposits required and features each has available. The broker also gives South African traders the ability to practice trading through a free demo account (also listed below).

    Bronze Account ($300 – $1,000 Deposit)

    • 24/7 live support via video chat
    • Withdrawals after 1 hour
    • Copy trading
    • 20% bonus

    Silver Account ($1,001 – $3,000 Deposit)

    • 24/7 live support via video chat
    • Withdrawals after 1 hour
    • Copy trading
    • 50% bonus
    • Master class (web session)
    • First 3 trades risk-free

    Gold Account ($3,001 – $50,000 Deposit)

    • 24/7 live support via video chat
    • Withdrawals after 1 hour
    • Copy trading
    • 100% bonus
    • Master class (web session)
    • First 3 trades risk-free
    • Personal success manager

    Demo Account (Free)

    Before opening a real account, South African traders also have the option of opening a free demo account. This is the perfect solution for a complete beginner in trading, because it allows you to practice trading entirely risk-free.

    Even professional traders like to make use of demo accounts, so they can test out the platform before deciding whether to invest or not.

    No matter your prior experience, the ability to open a demo account is always an advantage.

    Trading Platform & Assets

    By choosing to trade with WorldWideCapitalFX, South African investors will have the ability to trade binary options and CFDs in forex, cryptocurrencies, commodities and stocks through the WorldWideCapitalFX trading platform.

    The broker offers South African users a simple web trader, which can be accessed directly when logging in to their WorldWide CapitalFX account. The only thing you need to access their web-based software is an internet connection. The advantage of web traders is that they don’t require any downloads or installations onto your PC/laptop or mobile device.

    Unfortunately, WorldWide CapitalFX does not offer South African traders the MetaTrader4 (MT4) platform. MT4 is considered one of the most popular trading platforms that can cater to both beginners and trading professionals. Most South African traders know of MT4, so not offering the platform can be a big disadvantage. Most brokers give South African investors the choice of both a web trader and MT4.

    This is not the only problem with WorldWide CapitalFX though. Their whole website is incredibly vague and focused on pushing fake promises like massive profits in only 60 seconds. These get-rich-quick schemes are increasingly common nowadays, but are all lies. It is impossible to predict profits when it comes to trading. All trading comes with some risk and results depend on market fluctuations, currency trends and individual software settings and trading skills. It’s not a “jump in and you’ll be rich quick” kind of thing that many brokers seem to be selling.

    Warning: Never trust get-rich-quick promises. No broker can guarantee the amount of profit you will make and promises like this are red flags.

    Customer Support

    WorldWide CapitalFX claims to offer South African investors 24/7 customer support via email, phone, live chat or the contact form on their website. The broker also has a separate FAQ section that addresses certain basic questions but does not provide too much information – like most of their website.

    The broker also claims to have multilingual customer support, but does not specify which languages they cover. Their website is only available in English.

    Company Info & Payment Methods

    WorldWide CapitalFX is owned by the company Algobit Ltd which claims to be located at

    901 Main St. Dallas TX 75202. This address is most likely to be fake though, as no such company was found under that address.

    The broker accepts a variety of payment methods, which include credit card (Visa, Mastercard), Skrill, Neteller, Perfect Money, Vload and cryptocurrency deposits (Bitcoin, Ethereum, Altcoins). There is no mention of bank wire transfers.

    Warning: South African traders would not be advised to deposit any money with this broker.

    Conclusion: WorldWide CapitalFX is a Scam

    As you have probably realised by now, our broker review of WorldWide CapitalFX concluded that this broker is not to be trusted and is likely to be a complete scam.

     The company is not regulated under any entity, makes false promises, has an incredibly vague website and is operating under a completely different website and name – Major Options Investment.

    Instead of wasting your time with another scam in the industry, trade directly with the best, regulated broker for South African investors – IQ Option.

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