Company DetailsTrading PlatformsMetaTrader 4MetaTrader 5WebTraderWorld Forex Instruments & MarketsDigital ContractsSpreads & FeesLeverage ReviewMobile AppPayment MethodsDepositsWithdrawalsWorldForex Demo AccountDeals & PromotionsRegulation & LicensingAdditional FeaturesAnalyticsEducationAutoTradeVPSAccount TypesW-CENT-fixW-CENTW-PROFI-fixW-PROFIW-CRYPTOW-DIGITALBenefitsDrawbacksTrading HoursCustomer SupportSecurity & SafetyWorld Forex VerdictAccepted CountriesCompare World ForexWorld Forex Comparison TableCompare Trading InstrumentsWorld Forex vs Other BrokersFAQWhat Assets Does WorldForex.Com Offer?Is World Forex Regulated?What Is The Minimum Deposit Requirement For A World Forex Account?What Payouts Does World Forex Offer On Its Digital Contracts?What Deposit Options Does World Forex Offer?
World Forex is a multi-asset brokerage offering trading opportunities on MetaTrader 4 (MT4) and MetaTrader 5 (MT5), plus a proprietary platform. Users benefit from a commission-free pricing structure, copy trading, 30-minute withdrawals, plus welcome bonuses. But is World Forex trustworthy and reliable?
Our experts tested the broker’s account types, market access, digital contracts, live signals, and more. Read our 2022 review of World Forex to find out if you should open a trading account.
Company Details
World Forex was established in 2007 in the British Virgin Islands. In 2016, the company was acquired by Existrade Ltd, an international trading group regulated by Saint Vincent & The Grenadines Financial Services Authority (SVGFSA).
Today, the broker offers trading services on a global scale, serving over 350,000 traders in 50+ countries. Account holders benefit from ECN technology, 24/7 customer support, plus a $1 minimum deposit.
Retail clients can access several asset classes, including forex, stocks, cryptocurrencies, and commodities. The broker also offers digital contracts, providing a straightforward financial instrument for those new to trading.
Trading Platforms
World Forex offers several platforms; MetaTrader 4 (MT4), MetaTrader 5 (MT5), and a proprietary webtrader.
MT4 and MT5 are available for free download to desktop devices (Windows and Mac). Alternatively, traders can access the terminals via major web browsers or download mobile applications.
MetaTrader 4
VPS hosting
Trading signals
One-click trading
24 graphical objects
30 in-built indicators
MQL4 programming language
2,000+ indicators and 1,900 robots
Customizable and interactive charts
Nine timeframes (one minute to one month)
Four pending orders, two market orders, and two stop orders
FX Lite plugin is also available for MetaTrader 4, allowing users to trade digital contracts. Installation links and a useful download guide are available on the broker’s website.
MetaTrader 5
VPS hosting
Strategy tester
21 timeframes
One-click trading
44 graphical objects
38 in-built indicators
Six types of pending orders
Integrated economic calendar
Customizable charts and graphs
MQL5 development environment
How To Place A Trade On MT4 & MT5
Once you have verified your World Forex account, you can begin trading. You will need to fund your profile with a minimum deposit of $1.
To make a trade:
Download the respective platform or log in to the browser terminal
Choose the asset/market you wish to trade using the drop-down list or search bar
Select ‘new order’
An order screen will pop out. You can also open a new position directly from the chart
Enter the order details including order type (pending or instant), volume and risk management parameters (take profit and stop loss)
Select ‘buy’ or ‘sell’
Confirm the order
Note, opening and closing trades on MT4 and MT5 are similar.
WebTrader
Full trade history
One-click trading
Nine timeframes
Analytical objects
Favorites asset list
Trade forex and digital contracts
Customizable graphs and charts
Interactive real-time quotes
Full set of trading orders including pending orders
WebTrader
How To Place A Trade On WebTrader
Log in to the WebTrader
Select the asset/market you wish to trade using the list of instruments on the left-hand side of the platform
Enter the volume/position size
Select ‘buy’ or ‘sell’
Select ‘open order’
An order screen will appear. You can add a stop loss and take profit or create a pending order
Confirm the trade
World Forex Instruments & Markets
World Forex offers a wide selection of trading assets and instruments:
Trade two oil USD crosses; Brent and Crude
Open European and American digital contracts
Trade four metal USD crosses including Gold and Silver
Speculate on 53 major and minor currency pairs including EUR/GBP, GBP/JPY, and USD/ZAR
Open cryptocurrency USD cross positions on 10+ popular digital coins including Bitcoin, Litecoin, and Ethereum
Trade 40+ share CFDs of some of the world’s largest companies including American Express, IBM, Google, and Amazon
Note, access to instruments varies by account type.
Digital Contracts
A stand-out feature of World Forex is its digital contracts. This straightforward financial instrument asks whether the price of an underlying asset will be higher or lower than the current price when the contract expires.
Similar to traditional binary options, the broker’s digital contracts have three key components; amount (trade size), direction (up or down), and time (contract expiry). Expiries range from 60 seconds to seven days. Maximum payouts for American contracts are 100% and for European contracts, it’s 85%.
A key benefit of digital contracts is that the profit potential is displayed before opening a position. World Forex also provides a useful preliminary calculator so you can work out what you stand to win or lose before you make a trade.
Other key features include:
Draw Payout – Full refund
Minimum Investment – 1 USD/1 EUR/ 10 RUR
Loss Payout – Up to 14% (European contracts only)
Maximum Investment In One Contract – 300 USD/250 EUR/15,000 RUB
Early Closing – Available on American digital contracts, not available on European digital contracts
How To Buy A Digital Contract
Login to your client portal and then open your trading profile
Select the asset/market you wish to trade using the list of instruments on the left-hand side of the platform (digital contracts tab)
Select ‘Make Investment’
An order window will pop-out
Enter the trade size, expiry time, and pending order if required
Review the payout percentage
Select ‘up’ or ‘down’
Confirm the trade
How To Trade Digital Contracts
Spreads & Fees
Fees vary by account type and instrument. All profiles are commission free except for W-CRYPTO.
W-CRYPTO – Floating spreads from 0.0 pips
W-CENT and W-PROFI – Floating spreads from 0.6 pips
W-CENT-fix, W-PROFI-fix and W-DIGITAL – Fixed spreads from 1.8 pips
Swap rates apply for positions held overnight.
Withdrawal fees also apply – see the ‘Payment Methods’ section below for details.
Leverage Review
When we used World Forex, we were offered high margin trading opportunities up to 1:1000.
With that said, the leverage available depends on your account balance. Accounts with a balance of $1 – $1000 can access 1:1000 leverage. This drops to 1:500 for balances between $1001 – $5000. The lowest leverage available is 1:33, which applies to balances of $100,000 or more.
With the W-CRYPTO profile, leverage varies by the total volume of opened positions. Maximum leverage of 1:25 is available on positions of 20 lots or less. A 1:1 leverage applies to positions of 100 lots or more.
A 5% stop-out level applies to all accounts except the W-CRYPTO at 20%.
Mobile App
MetaTrader 4 and 5 are available as iOS, Android, and Huawei-compatible mobile applications. The apps are designed with all the features and functionality of desktop devices but with smaller screens in mind so you can manage your profile and trade on the go.
Day traders can also download the FX Lite BO app to iOS and Android (APK) devices. This is an intuitive yet convenient application that allows you to trade digital contracts from your tablet or smartphone.
Payment Methods
Deposits
Our experts were impressed with the list of accepted payment methods. This includes bank wire transfers, credit/debit cards, e-wallets, and cryptocurrencies.
World Forex does not charge any deposit fees, though third-party charges may apply. Exchange rate fees may also apply if you are depositing in a currency other than your account denomination.
The minimum deposit requirement for all account types is $1 or equivalent currency, however, some payment methods may have their own minimums.
Bank Wire Transfers – Up to five working days
Credit/Debit Cards (Visa and Mastercard) – Instant processing
Mobile Payment Services (Google Pay and Apple Pay) – Instant processing
Online Payment Services (Payeer, Perfect Money, and ADVCash) – Instant processing
Cryptocurrencies (Bitcoin and Dash) – Blockchain dependant, though typically processed within six hours
Internet Banking (Sberbank, Tinkoff, Alfa-Click, Promsvyazbank, Russkiy Standart) – Instant processing except for Sberbank and Tinkoff payments which can take up to 24 hours
Note, availability may vary depending on your location.
How To Transfer Money To Your WorldForex Account
Sign in to the client portal with your login credentials
Select the ‘Transaction’ tab
Choose the profile to fund from the account drop-down menu
Select the payment method or transfer funds held in your client account
Enter the amount
Select ‘Deposit Funds’
Withdrawals
Clients must withdraw funds using the original deposit method.
World Forex usually processes withdrawals within 30 minutes, which is impressive compared to most of the industry.
There are no minimum or maximum withdrawal limits, however fees apply:
Bank Wire Transfers – Varies by banking beneficiary
Credit/Debit Cards (Visa and Mastercard) – 4% fee + 5 USD
Mobile Payment Services (Google Pay and Apple Pay) – 2.5% fee + 50 RUB
Cryptocurrency (Bitcoin and Dash) – Varies but stated at the time of transaction
Online Payment Services (Payeer, Perfect Money and ADVCash) – Between 1% and 3.8%
Internet Banking (Sberbank, Tinkoff, Alfa-Click, Promsvyazbank, Russkiy Standart) 2.5% fee + 50 RUB
WorldForex Demo Account
World Forex offers a free demo profile, available with all account types. Practice trading risk-free with real market conditions, unlimited virtual funds, and flexible leverage. You can learn all the features and functionality of the trading platforms including indicators, signals, graphical objects, and charts.
To register, log in to the client portal. Select the demo profile you wish to open via the trading accounts tab. You can then select the leverage, account currency, and virtual balance.
Demo Account Registration
Deals & Promotions
As an offshore broker, World Forex is able to offer financial incentives and bonuses to retail traders. Our experts found several deals for new and existing traders, including a no-deposit bonus, trading contests, a cashback club, and more.
A +100% deposit bonus is available on deposits of $100+, with free VPS access (usually $5.99).
Retail clients can also win up to $1400 as prize money with the 21-day demo trading championship. It is free to participate and a good way to put your skills to the test.
Note, always check terms and conditions before signing up.
Regulation & Licensing
World Forex operates under Existrade Ltd, regulated by Saint Vincent & The Grenadines Financial Services Authority (SVGFSA), registration number 24441. Our experts checked the registered entity list and can confirm incorporation took place on 1st March 2018.
Although it is good to see that the broker is regulated by a financial body, this is not a leading financial agency with relatively lax joining requirements. This means the broker does not have to follow the same strict retail trading safeguards that regulators like the FCA and ASIC mandate.
With that said, World Forex is an official participant of The Financial Commission. Compensation up to €20,000 is available per client in the event of a dispute.
The broker also undertakes monthly audits in association with VerifyMyTrade. Certification and ranking are renewed monthly using comparisons with other broker-dealers. Note, this service does not include a declaration of capital reserves.
Additional Features
Analytics
As well as all the features and functionality available on the World Forex trading platforms, day traders can access live market news streams, research analysis, and asset reviews. A forex calculator and live price quotes are also available on the official website.
Forex Calculator
Education
While using World Forex, we were impressed with the educational content and resources available. For beginners, World Forex offers a comprehensive yet digestible question-and-answer ‘knowledge base’. This is a great tool to refer back to throughout your investment journey. Details include market opening times, exchange rates, basic forex charting functionality, and platform user manuals.
A free trading course is also provided by the broker. It contains all the information you need to start a successful trading journey in the forex market, including several examples and practical instructions. Subscribe with your email address to receive access.
A glossary of key terms and step-by-step guides on how to place a trade are also offered.
AutoTrade
Connect trading signals to your MetaTrader account and copy successful investors.
Ideal for beginners, the copy trading service allows users to view detailed statistics about signals, visualize performance on charts and graphs, and view the risks and opportunities before subscribing.
You can also monitor performance in real-time and receive a written follow-up report on the copied position.
VPS
Day traders also benefit from access to the virtual private server (VPS). When using the World Markets VPS service, investors receive full data control, uninterrupted operations, and the possibility to control the trading system from iOS and Android devices.
You can register through the client portal. A standard $5.99 fee applies unless you qualify for the 100% joining bonus.
Account Types
World Forex offers six live accounts. The best profile to open will depend on your trading style and the asset you are interested in.
Conditions and costs vary, though all profiles offer market execution, access to MT4 & MT5 (except for W-DIGITAL), a minimum deposit requirement of $1, and flexible leverage.
W-CENT-fix
Stop Out – 5%
Commission – Not applied
Contract Size – 100,000 cents
Spreads – Fixed, from 1.8 pips
Account Currency – USD/EUR cents
Minimum Volume Per Trade – 0.1 lots
W-CENT
Stop Out – 5%
Commission – Not applied
Contract Size – 100,000 cents
Spreads – Floating, from 0.6 pips
Account Currency – USD/EUR cents
Minimum Volume Per Trade – 0.1 lots
W-PROFI-fix
Stop Out – 5%
Commission – Not applied
Spreads – Fixed, from 1.8 pips
Account Currency – USD/RUB/EUR
Minimum Volume Per Trade – 0.01 lots
Contract Size – 100,000 of the base currency
W-PROFI
Stop Out – 5%
Commission – Not applied
Spreads – Floating, from 0.6 pips
Account Currency – USD/RUB/EUR
Minimum Volume Per Trade – 0.01 lots
Contract Size – 100,000 of the base currency
W-CRYPTO
Stop Out – 20%
Commission – 0.5%
Contract Size – 1-1000 coins
Account Currency – USD/RUB
Spreads – Floating, from 0.0 pips
Minimum Volume Per Trade – 0.01 lots
W-DIGITAL
Spreads – Fixed, from 1.8 pips
Account Currency – USD/RUB/EUR
Minimum Volume Per Trade – 1 USD/1 EUR/10 RUB
Maximum Volume Per Trade – 300 USD/250 EUR/15000 RUB
Commission – Applies for early closing of American contracts only at 40%
A halal, swap-free account can also be activated at the time of registration. Open a W-PROFI or W-CENT profile and tick ‘Open Swap Free’.
How To Open An Account
It is quick and easy to register for a live profile. Visit the ‘Register’ link at the top right of each web page or select ‘Open an Account’ on the trading accounts page. Complete the application form (email address and password creation only).
Once you have signed up, World Forex requests identity verification. Although this does not need to be completed immediately, you will not gain access to all services, receive financial bonuses, or open and close trades without it. Withdrawals are also not available for unverified profiles.
Benefits
When we used World Forex we found several advantages:
VPS hosting
Demo account
Copy trading
Educational content
STP/ECN technology
Swap-free account available
10+ accepted payment methods
MT4, MT5 and a proprietary trading terminal
A wide range of assets to trade, including digital contracts
Several different account types with varied pricing structures
Drawbacks
Our experts also found a number of disadvantages to trading with World Forex:
Offshore regulation
Withdrawal fees apply
No negative balance protection
Trading Hours
You can access the markets 24/5 at World Forex. However, it is worth noting that trading hours and timings will vary by instrument. Day traders can access a sessions calendar with scheduled updates and market closures.
A calendar of major events by country and time zone is also available on the broker’s website.
Customer Support
24/7 support is available to World Forex traders. Contact details:
Email – support@wforex.com
Live Chat – The bottom right of each webpage
Online Contact Form – Can be completed via the ‘Contact Us’ webpage
Contact Number – +7 495 266 60 77 (Russia), +44 870 479 8221 (UK), +66 093 181 4643 (Thailand)
When we tested the live chat function, we received a response within one minute, which is impressive vs competitors.
Although there is no standard FAQ section, we were pleased with the comprehensive help page including the ‘knowledge base’. This provides details of how to trade, payouts, a glossary of key terms, and platform installation support.
Security & Safety
World Forex is a legitimate and secure online brokerage.
The company complies with standard AML and KYC protocols. Payments are made via SSL encryption. Also all trading platforms offer security features, such as two-factor authentication (2FA) at the login stage.
World Forex Verdict
World Forex is a reliable broker with hundreds of thousands of customers. Our experts were impressed with the range of assets, payment methods, account types, and educational resources. The digital contracts are also a great addition to the line-up, with payouts of up to 100%.
The only major drawbacks are the withdrawal fees, offshore regulation, and lack of negative balance protection.
Accepted Countries
World Forex accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Compare World Forex
Compare World Forex with similar brokers that accept traders from your location. Among available brokers these are the most similar to World Forex:
Videforex – Videforex accepts deposits in a range of cryptos and fiat currencies. Payouts reach 95% per trade.
Spectre.ai – Spectre.ai is a blockchain-based binary options broker
BinaryCent – Deposit and trade with a Bitcoin funded account. BinaryCent offers binary options, FX and CFD trading. 1:100 leverage is also available.
IQCent – IQCent is an offshore binary options and CFD broker with 10+ payment methods and a $250 minimum deposit. Clients benefit from copy trading tools and in-depth market analysis.
World Forex Comparison Table
| – | 3.5 | 3.3 | 3.5 | 3.7 |
| Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto |
| Yes | Yes | Yes | Yes | Yes |
| $1 | $250 | $0 | $250 | $50 |
| 0.01 Lots | $1 | $1 | $.10 | $0.01 |
| SVGFSA | – | St. Vincent and the Grenadines | VFSC | – |
| 100% Deposit Bonus | 100% deposit bonus up to $3000 | – | 20% – 100% deposit bonus | 20% – 100% deposit bonus up to $1000 |
| No | No | No | No | No |
| MT4, MT5 | – | – | – | – |
| 1:1000 | 1:500 | 1:40 | 1:100 | 1:500 |
| 10 | 8 | 13 | 12 | 7 |
| – | World Forex vs Videforex | World Forex vs Spectre.ai | World Forex vs BinaryCent | World Forex vs IQCent |
| World Forex Review |
Videforex Review |
Spectre.ai Review |
BinaryCent Review |
IQCent Review |
Compare Trading Instruments
| Yes | Yes | Yes | Yes | Yes |
| 1 minute – 7 days | 30 seconds – 1 month | 1 minute – 1 day | 1 minute – 30 days | 1 minute – 30 days |
| No | No | No | No | No |
| No | No | No | Yes | No |
| Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | No | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes |
| No | No | No | No | Yes |
| Yes | Yes | Yes | Yes | Yes |
| No | No | No | No | No |
| Yes | Yes | Yes | Yes | Yes |
| No | Yes | No | No | No |
| No | No | No | Yes | Yes |
| No | No | Yes | No | No |
| No | No | No | No | No |
| No | No | No | No | No |
| No | No | No | No | No |
| No | No | No | No | No |
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FAQ
What Assets Does WorldForex.Com Offer?
Day traders can take positions on currency pairs, commodities, cryptocurrencies, and stock CFDs. European and American digital contracts are also available, which are similar to standard binary options.
Is World Forex Regulated?
World Forex is regulated by the Saint Vincent & The Grenadines Financial Services Authority (SVGFSA). It is also an official participant of The Financial Commission, a corporation offering retail clients fund protection in the event of any disputes between customers and brokers. Compensation up to €20,000 is available per client.
What Is The Minimum Deposit Requirement For A World Forex Account?
All World Forex accounts have a minimum deposit requirement of just $1 or equivalent currency. This is particularly low, making it a good choice for beginner traders.
What Payouts Does World Forex Offer On Its Digital Contracts?
World Forex offers a maximum payout of 100% on American digital contracts and 85% on its European contracts. A full refund is provided for contracts that result in a draw.
What Deposit Options Does World Forex Offer?
World Forex supports several deposit options, including bank wire transfers, Visa and Mastercard credit/debit cards, cryptocurrencies, Google Pay, Apple Pay, and online banking services such as Payeer and Perfect Money.