October 26, 2020

WorldFXM Review – Is it scam or decent broker?

worldfxm review - worldfxm account types

Regulators: –

Cryptocurrencies: –

Minimum Deposit: n/a

Maximum Leverage: –

Spreads: High

My Score: 2.6

WorldFXM is just one of those brand new forex brokers. Headquartered in the Marshall Islands, WorldFXM enrolled by CHO DEVELOPMENT LTD. There are lots of amateur mistakes within their internet site and I couldn’t find a lot of information about the company. I wanted to ask some questions via live chat but no one replied to my messages. That’s why my before all else impressions about World FXM was very disappointing.

If you are wondering WorldFXM is a scam or reliable broker, I recommend you to read my WorldFXM review before all else. What are the trading conditions of WorldFXM? How many account types they are offering? How many payment methods supported by World FXM? What are their biggest advantages and disadvantages?

Regulation

As they headquartered in Marshall Island, WorldFXM is an unregulated broker like many scam brokers that I reviewed. There is no information about regulation on the website and I found too many negative comments about them all over the internet. People are complaining about how they can’t obtain their cash.

That’s why I’m consistently saying that the law ought to be the absolute most essential variable when deciding on a broker. By way of instance, high spreads or very low leverage may be an issue however, it’s perhaps not just a larger problem than may obtain your money back. Brokers that regulated by respected watchdogs like FCA, ASIC or CySEC always will be my before all else priority.

Your funds may not be safe if you choose to work with this broker.

Account Types & Spreads Offered by WorldFXM

There is no information of trading conditions or account types on their website, however, I managed to find some. There are 3 different account types at WorldFXM: Silver, Gold and Platinum. The minimum deposit limit is $250 and the spreads are 3.3 pips(fixed).

So, this clearly scam broker is not sharing any information before opening an account and still, they offer very bad, non-competitive conditions. $250 minimum deposit limit is quite high as many brokers offer a $100 minimum deposit limit. And spreads are almost 3 times higher than other brokers.

worldfxm spreads

World’s most popular forex trading platform MetaTrader4 is supported by WorldFXM and I think this is their only positive side. Also, various trading instruments are available except cryptocurrencies at their platform: 65 currency pairs, including major and exotic pairs, 33 indices and commodities.

Payment Methods

Even if they say “WorldFxm offers various obligations techniques ” don’t believe that. Deposit/withdrawal techniques are extremely limited at WorldFXM. Simply charge card and cable move, nothing longer. Thus, popular payment systems such as Skrill, Neteller, Cryptocurrencies aren’t offered.

Conclusion

There Isn’t Any argumentation to utilize WorldFXM. They’re a scam broker, their trading requirements aren’t evident and spreads are rather significant. Additionally, payment techniques are extremely limited. I would like to recommend you to work with this broker and risk your money.

WorldFXM

2.6

Trust

2.0/10

Commissions and charges

2.0/10

Customer Service

2.0/10

Platform & Tools

4.0/10

Product Portfolio

3.0/10

Pros

  • MT4 endorsed

Cons

  • Unregulated broker, likely scam.
  • Spreads aren't aggressive