World Forex-Some important Details about This Broker

World Forex Information

World Forex was established in 2007 and is registered in Saint Vincent and the Grenadines. It is not regulated by any top-tier organization, but it does provide a wide range of trading services such as forex, commodites, and share CFDs. The platform supports both MT4 and MT5, with leverage up to 1:1000 and a low entrance barrier of only $1.

Pros and Cons

Is World Forex Legit?

World Forex is not regulated by any recognized financial authority. While the company claims to have an international financial license, it is not overseen by prominent regulators like the FCA (UK), ASIC (Australia), CySEC (Cyprus), or FINMA (Switzerland).

According to WHOIS records, the domain name vtindex.com was registered on June 12, 2004 and last updated on November 3, 2023. It is now operational and protected, with the following restrictions: client deletion, client renewal, client transfer, and client update are all forbidden.

What Can I Trade on World Forex?

52 currency pairs, key commodities, and CFDs on U.S. stocks are just a few of the many tradable products that World currency offers. Additionally, it allows digital contracts that have features like turbo options and early closing.

Account Type

World Forex provides six types of actual trading accounts and fully functional demo accounts. Two of the accounts (W-CENT and W-PROFI) provide swap-free choices for traders who want to avoid overnight interest payments. All accounts feature MetaTrader 4/5, mobile/web trading, and require a minimum deposit of $1, with leverage up to 1:1000.

Leverage

World Forex provides leverage of up to 1:1000, allowing traders to manage larger amounts with a little initial commitment. This can greatly increase prospective gains and losses.

World Forex Fees

Compared to industry standards, World Forex has usually modest fees. Most account types lack trading commissions, close spreads, and inactivity fees. For some accounts, swap-free choices take the place of conventional swap fees with fixed overnight costs.

Spreads & Commissions

Swap Rates

Standard accounts use market-based swap rates depending on the instrument and position size. Swap-Free Accounts (W-CENT, W-PROFI) replace swaps with a fixed overnight fee, which is payable daily at 00:00 server time. Traditional swaps are not used in cryptocurrency or digital accounts.

Trading Platform

Deposit and Withdrawal

World Forex does not charge any deposit fees for most methods, but withdrawal costs do apply and vary depending on the payment method. Depending on the method used, the minimum deposit amount can be as low as $1.