WORLDWIDEMARKETS

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Disadvantages:

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About company:

WorldWideMarkets (WWM) is a broker offering trading in various asset classes on the innovative Alpha Trader and MetaTrader 4 platforms.

Security of funds

WorldWideMarkets, founded by the founders of FX Solutions, is a trade name of WorldWideMarkets Ltd. The broker is licensed and regulated by the British Virgin Islands Financial Services Commission and a subsidiary of WorldWideMarkets Online Trading Ltd. controls the FCA.

Brokers registered in the British Virgin Islands do not face many of the requirements for companies in the US and UK. Thus, they are not required to participate in investor compensation programs, and there are no requirements for a minimum deposit.

On the other hand, UK brokers such as WorldWideMarkets Online Trading Ltd. are required to hold tangible assets of at least € 730,000 and are required to follow a number of procedures, such as keeping clients' money in segregated accounts, submitting regular transaction reports to the commission, etc. Moreover, FCA regulated companies are subject to the Investor Compensation Scheme (FSCS), which protects traders and guarantees returns of up to £ 50,000.

Nevertheless, on the Internet, we found reviews of traders who claim that the broker is a scammer and appropriates the clients' profits.

Trading conditions

Despite using different trading platforms, WorldWideMarkets only provide one type of account, offering both fixed and variable spreads for CFDs and Forex.

The broker provides retailers with the ability to trade currencies, gold, oil, indices, stocks, options and CFDs.

Minimum initial deposit

The minimum initial deposit required by WorldWideMarkets is $ 250, which is the industry average.

Spreads and commissions

Originally, WorldWideMarkets offered fixed spreads of 3 pips per standard pairs. This is a fairly high value. Recently, however, the broker has also added variable spreads: 0.4 pips on EUR / USD, which is considered relatively low.

WWM does not charge commissions, it makes profit from the spread.

Leverage

This broker offers a maximum leverage of 1: 400 on Forex, 1: 200 on CFDs, which is considered relatively high.

If you are looking for higher levels of leverage, there are many brokers that offer leverage up to 1: 500 and 1: 1000. However, traders should remember that leverage not only increases profits, but can also lead to large losses.

Trading platform

WWM offers two trading platforms: Alpha Trader and MetaTrader 4.

Alpha Trader is the broker's internal desktop platform. It provides the necessary tools to analyze price action, monitor market opportunities and offer one-click trading.

Like most Forex brokers, WWM also offers MetaTrader 4, software available on PC and mobile devices.

These platforms are suitable for both beginners and advanced traders, offering a customizable workspace, innovative services; panel of trade commands, and professional tools, a set of charts, indicators and drawing tools.

Bonuses

WWM customers are offered a welcome bonus: 10% of the deposit amount.

Support service

Available by phone, email and live chat. It is also easy to contact company representatives via Twitter and Facebook pages.

Ways of payment

The payment methods available to WWM customers are credit / debit cards, bank transfer, and Skrill and Neteller e-wallets.

As for account holders with a UK registered company, only bank transfer is available to them.

Pros:

regulated broker; PAMM / MAM accounts; selection of trading platforms.

Minuses:

complaints from traders; high fixed spreads.

FAQ - BROKER QUESTIONS WORLDWIDEMARKETS

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Can the broker WORLDWIDEMARKETS be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. WORLDWIDEMARKETS received a rating of 1 out of 5 on our resource.