WorldForex (WForex) Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- MT4
- WebTrader
- Mobile terminal
- The Financial Commission
- 2007
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- MT4
- WebTrader
- Mobile terminal
- The Financial Commission
- 2007
Our Evaluation of WForex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
WForex is a moderate-risk broker with the TU Overall Score of 6.93 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by WForex clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
WForex is suitable for traders of all levels from beginner to professional traders.A comprehensive set of tools allows all trades to make the most of their funds for profitable trading.
Brief Look at WForex
WForex is a broker operating on the market for 12 years. The company carries on its activity in 50 countries in the world. It is a member of the Financial Commission for Dispute Resolution in the field of financial services in the international exchange market. World Forex coops with front developers, introducing modern tools that provide traders with safe and uninterrupted trading. The company is admitted as the best Forex digital contract broker.
- bonus 100% for replenishment;
- commissions compensation when depositing;
- low barrier for entry — you can deposit $1;
- Safe-box account — high interests for trader's funds, free-and-easy converting and cash transferring between your trade accounts according to official bank rates;
- making transactions with ECN/STP technologies avoid a conflict of interest between the broker and the trader;
- auto trading is available;
- wide range of replenishment and withdrawal systems;
- own developed course "Forex Guide for the trader";
- the ability to trade digital contracts provides a potential profit of 100%.
- no search box on the website;
- there is no forum for communication between traders, but you can use the Traders Union forum, where traders from all over the world communicate;
- the support service may take several hours to respond
- the training section can be amended with video courses and training articles.
TU Expert Advice
Financial expert and analyst at Traders Union
WForex has proved to be a reliable partner over a long period within the Forex Market and is a relatable partner of the Traders Union. forex sets a low barrier for entry, makes it possible to work with digital contracts and binary options, and compensates commissions of payment systems when replenishing an account. The company is in demand among traders due to favorable working conditions, frequent contests, and a loyalty program.
WForex creates a comfortable environment for novice traders. There is an opportunity to get free training on Forex trading, a training account is offered for working out strategies. In addition to MetaTrader 4 or WebTrader, traders can work through the application for iPhone/iPad or Android.
- You seek the opportunity to trade with high leverage up to 1:1000 and a low minimum deposit requirement of $1.
- You are interested in trading binary options, and WForex provides a dedicated platform and account for this specific type of trading.
- You are concerned about the reliability and regulation of this broker. WForex is registered in an offshore jurisdiction and has a poor reputation among traders.
- You prefer to trade with a broker offering competitive and transparent pricing. WForex charges high spreads and commissions, along with certain hidden fees and charges.
WForex Summary
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MT4, WebTrader, Mobile terminal |
|---|---|
| 📊 Accounts: | W-Cent, W-Profi, W-Instant, W-ECN, W-Crypto, W-Digital |
| 💰 Account currency: | USD, EUR |
| 💵 Replenishment / Withdrawal: | Bank cards, Internet-banking, pay terminals, e-payments |
| 🚀 Minimum deposit: | Form $1 |
| ⚖️ Leverage: | W-Cent, W-Profi, W-Instant: 1:33 — 1:1000; W-ECN: 1:50 — 1:500; W-Crypto: 1:1 — 1:25. The amount depends on the amount of the own funds on the deposit. |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | W-Cent, W-Profi — fixed from 1,8 pips; W-Instant — fixed from 2 pips; W-ECN — floating from 0,2 pips; W-Crypto — floating from 0 |
| 🔧 Instruments: | Currency pairs, cryptocurrencies, metals, oil, shares, digital contracts |
| 💹 Margin Call / Stop Out: | 20% / 5% |
| 🏛 Liquidity provider: | - |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | W-Cent — Instant Execution, Market Execution; W-Profi, W-ECN, W-Crypto — Market Execution; W-Instant — Instant Execution |
| ⭐ Trading features: | Lack of swaps on accounts for Muslims; Digital contract trading; Loyalty and bonus program; VPS server. |
| 🎁 Contests and bonuses: | The bonus of $100 when depositing from $100; return of commission for depositing; contests on demo-accounts |
WForex offers favorable conditions for both beginner and professional traders. The broker strives to provide premium services, clearly fulfilling its promise of reliability. An additional advantage for traders is the ability to open an account in national currency, as well as work with digital contracts.
WForex Key Parameters Evaluation
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Trading Account Opening
You have to register in the system and set up your account to work with a broker: The registration process takes only a few minutes.
You can log into the system from the broker's main page by clicking the "Login" button.
To pass authorization, you must select one of the methods offered or register by specifying the current e-mail and inventing a password.
In the WForex account, the trader can access all the information regarding his work. Through your personal account you can:
Your accounts contains many functions and convenient services:
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quotes of major currencies and metals;
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latest market reviews and company news;
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partner’s office, etc.
Regulation and safety
World Forex brand belongs to the Existrade Ltd brokerage company. The company's activities comply with all international standards for the provision of financial and brokerage services, which is confirmed by the FSA commission (registration number 24441).
WForex broker is a member of The Financial Commission. This organization provides the pre-trial, impartial resolution of disputes and conflicts between its participants and customers. Under the established rules, the work of all traders is protected by a compensation fund in the amount of up to EUR 20,000 per claim. All disputes shall be resolved with the help of The Financial Commission experts within seven days.
Every month, World Forex is under an audit and certification of VerifyMyTrade orders. Successful completion of the audit and obtaining a certificate means that the quality of execution of the broker's orders is as close as possible to the reference market execution.
Advantages
- Quick financial disputes resolution
- Quality control of order execution
- Insurance coverage for financial claims of traders
- Money laundering prevention
Disadvantages
- Regulator license is issued only to the management company
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| W-Cent | From 1.8$ | Yes |
| W-Profi | From 18$ | Yes |
| W-Instant | From 20$ | Yes |
| W-ECN | From 2$ | Yes |
There are no hidden commissions. There is a commission for transferring transactions to the next day (swap) in W-Instant and W-ECN accounts, and W-Cent and W-Profi accounts have swap free. The size of WForex trading commissions was also studied and a comparative analysis was carried out with similar indicators of the main competitors. Each broker was assigned a result depending on the amount of the commission: low, medium, high.
| Broker | Average commission | Level |
|---|---|---|
|
$10.4 | |
|
$1 | |
|
$8.5 |
Account types
World Forex offers to open several types of accounts that are suitable for different needs of traders. You can choose a different currency of account: USD, EUR. Accounts can be for Forex trading, as well as for digital contracts and cryptocurrencies.
Types of accounts:
It is recommended to open a demo account so that you can practice first without financial risks before you begin trading with real money.
WForex enables its trader’s development by providing tools and opportunities to implement professional skills.
Deposit and Withdrawal
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WForex Company withdraws funds not only on business days but also on weekends.
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Applications for funds withdrawal on business days are considered up to 30 minutes.
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Various systems can be used to withdraw funds. Bank cards: Visa, MasterCard, Wire Transfer, electronic payment systems: WebMoney, Ok pay, Perfect Money, ADVCash, Bitcoin, Dash.
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No commission is charged when withdrawing funds through Dash, for other systems the size of the commission varies from 0.5% to 4%.
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Withdrawal in World Forex is available in such currencies as USD, EUR.
Investment Options
World Forex broker provides modern tools for comfortable work: VPS-server, ECN-account, auto trading option. Traders registered with a broker can profit not only from trading, but also from the trading volumes of the participants attracted by them.
The WForex Rebate Club Program — offering traders more opportunities to earn
Customer motivation is the principal priority of the WForexBroker Rebate Club Program. Each participant registered with the broker can adjust the accrual rate for transactions, to earn club points for volume. There are no restrictions on how the points can be used. This means traders can redeem and withdraw them as cash, continue to trade with them, increase margin opportunities or exchange for bonuses.
The amount of points accrued depends on the following factors that are taken into account when calculating points:
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profile age (Age Factor);
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trading history (Volume Factor);
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funds amount (Amount Factor) — on all profile accounts.
The value of the points is calculated daily and valid exactly one day before the next calculation.
Auto trading through "Trading signals" - copying transactions of successful brokers
WForex gives traders the option to copy successful transactions of professional traders - signal providers, to which their less experienced colleagues subscribed, thanks to the use of auto trading. It is allowed to connect to any signal provider. You can test all the features on a demo account.
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
World Forex affiliate program
You do not have to be a professional in trading to become a WForex partner. Now you can earn up to 85% of the spread on the turnover of traders attracted by participating in an affiliate program.
WForex offers 3 options for Affiliate Partner Programs:
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Internet-partner;
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YouTube-partner;
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Representation.
You need to open your account and have a look at the conditions offered to become a broker partner. The program aims to attract new traders by publishing a broker affiliate link on their Internet resources. The partner gets a reward for each referral attracted. A calculator with calculations and a history of affiliate payments calculating are available in your account.
CASHBACK CLUB Loyalty Program
The program allows you to receive cashback up to $25 in real funds per 1 lot for performing trading operations.
Customer support
Customer service is available around the clock Service is available in 5 languages. You can contact us at any time.
Advantages
- Twenty-four/seven operation
- online chat
- Callback form
- Multilingual support service
- You can send a letter directly to the finance department or administration
Disadvantages
- Long-time response to written requests
You can use several communication channels to ask a support question:
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call the phone number specified in the contacts;
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send a letter to the mail;
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fill out a callback form, and specialists will call you back within 30 seconds;
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ask a question in the online-chat;
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to full the contact form;
Contacts
| Foundation date | 2007 |
|---|---|
| Registration address | World Forex Corp. Company number 142019, BVI Business Companies Act, 2004. BVI . R.G. Hodge Plaza 3rd Floor, Road Town, Tortola, British Virgin Islands |
| Regulation | The Financial Commission |
| Official site | wforex.com |
| Contacts |
+44 870 479 8221, 8 800 555-78-99, +7 495 266 60 77
|
Education
A special section "For Beginner Traders" has been created on the company's website and contains useful information for novice traders. WForex has developed a “Forex Guide for Trader” full course, which is freely available. The knowledge base and terminology dictionary are in the “Help” tab.
To make the training as effective and understandable as possible, it is recommended to proceed with all information received on a training account. You can open training accounts: Profi, ECN, Digital.
Comparison of WForex with other Brokers
| WForex | RoboForex | Pocket Option | Exness | XM Group | 4XC | |
| Trading platform |
MT4, WebTrader, Android, iPhone, MAC platform | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5, MobileTrading, XM App | MT5, MT4, WebTrader |
| Min deposit | $1 | $10 | $5 | $10 | $5 | $50 |
| Leverage |
From 1:33 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:30 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.2 points | From 0 points | From 1.2 point | From 1 point | From 0.6 points | From 0 points |
| Level of margin call / stop out |
20% / 5% | 60% / 40% | 30% / 50% | No / 60% | 100% / 50% | 100% / 50% |
| Execution of orders | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | $50 |
| Cent accounts | Yes | Yes | No | No | Yes | No |
Detailed Review of WForex
World Forex broker is popular among traders all over the world. The main advantages of the company are transparent terms of contracts, improvement of trading conditions and the introduction of modern solutions. The broker is an active member of the international financial commission, which guarantees traders quick disputes resolutions, as well as insurance reimbursement of funds from the compensation fund.
Important factors for beginner traders when considering WForex:
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350,000 clients from 50 countries use the broker’s services;
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WForex was recognized as the best Forex broker for trading digital contracts in 2015;
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became the best trading platform of the year for Forex trading and digital contracts according to LE FONTI in 2017.
World Forex is the best broker for active and passive investment
WForex shows reliability and stability. Traders can choose MetaTrader 4 or WebTrader for trading. Working with metals, cryptocurrency, currency pairs, digital contracts makes it possible to maximize the use of modern trading to make a profit.
Useful World Forex Services:
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calendar of events;
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trading schedule;
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company news feed with current information.
Advantages:
it may be possible to work with digital contracts;
auto trading service;
VPS-hosting;
an order executed licensed;
availability of accounts for Muslims;
withdrawal of funds not only on business days but also on weekends.
User Satisfaction