- /10
Overall Rating

WorldMarkets Review

Read this Worldmarkets broker review before opening your account. Is this a Scam or Reliable Forex Broker? Find out more with AtoZ Markets Forex broker review of World markets.

World Markets is an online retail broker that provides bullion physical trading. However, they are not licensed by any of the European nor other countries’ regulators. Also, in recent years, they have received many complains from various traders in our community, so please be aware and always do your due diligence before opening any trading accounts. 

Overview

At AtoZMarkets.com, we have a readers-first policy. Thus, we always put our readers' safety as a priority in our business line. We will never satisfy ourselves with Brokers' public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly!

For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography, and reputation. The very same standards apply in the case of this world markets broker review. Please go through this article on how we conduct our broker reviews.

Worldmarkets.com is in our view, not a reliable broker to trade with, and we ask everyone to do their due diligence before thinking of opening an account with them. From what we have seen the latest message we received states:

"Effective immediately, please note that World Markets AI Managed Account service has been discontinued permanently due to SwiftXChange's insolvency. Accounts at other 3rd party broker providers may be withdrawn immediately. No future trading will occur.  We apologize for this inconvenience. Bullion sales are not impacted by this notice.  Thank you."

Company

- /10

World Markets was Founded in 2003. This brokerage has many negative comments about their services online, so please beware of these and perform your own due diligence before you open any trading account. At first, they launched as a precious metal dealer. Afterwards, they expanded their operation and provide online trading services that include currency pairs, stocks, indices, commodities, and cryptocurrencies.

According to their website, they are managing more than 30M assets while they claim to have more than 50,000 clients worldwide. Worldmarkets.com also provides some online products through its partnerships with Bitmex & HYCM. 

Trading Platform

- /10

Please bear in mind the negative comments from traders before opening an account with World Markets. The broker provides traders access multiple trading platforms. The broker has an in-house MQL Copy Trader for traders to trade through the AI managed accounts and the MetaTrader 4 and MetaTrader 5 for traders for those who prefer the self-trading account.

MetaTrader 4 & MetaTrader 5

MetaTrader 4 & 5 are the most common Forex trading platform among the retail traders, which is specially designed for Forex trading. These platforms are compatible with Windows, Mac, and on any web-browser. These are very common trading platforms for beginners. With this software, traders can access their trading accounts from a mobile trading application that is available on the Google Play & App Store. Moreover, MetaTrader 5 is the updated version of MT4 and has optimized trading tools, including built-in indicators, a built-in economic calendar, and advanced trading features.

MQL Copy Trader

This is a platform designed for those who choose to trade through the AI Managed account. World Markets provides MQL Copy Trader that allows traders to track their trading account. The AI managed account has high-frequency algorithms that automatically scan the market and find suitable trading opportunities.

This is a trading platform with real-time and access to all sorts of data, including the account balance, live charts, market data, and news feed. 

Account Types

- /10

World Markets platform offers three different types of trading accounts:

AI Managed account

With the AI Managed Account, traders can connect to the algorithms that are used for trading which are directly supervised by World Markets’ analysts, this is questionable method. Also, the broker claims that they have generated some stable trading profits for its clients, which is a redflag to watch out for.

Cryptocurrency

- /10

Traders with World Markets can trade through BitMex, which is a cryptocurrency exchange. 

Costs

- /10

They don’t have any upfront fees associated with any World Markets trading accounts, AI Managed Accounts, as well as the Digital Gold and advanced trading instruments.

However, they have disclosed the pricing structure for the AI managed account:

  • For Standard accounts, they charge a 20% performance fee and a 1% Annual Management Fee.
  • For Gold Premier Accounts ($25,000+), they charge 10% Performance Fee and 1% Annual Management Fee.

Customer Support

- /10

Based on the online comments and reviews of Worldmarkets.com, their customer support is lacking with a number of unhappy traders. 

Regulation

- /10

World Market is quite unclear about its regulation, the firm has no clear record of being regulated by any of the European nor other regulatory bodies. 

Conclusion

There are a lot of questions raised about this broker by our community, hence we have taken a more in-depth at this broker. The negative comments of the people are there for a reason. Hence, based on our research we do find this broker not reliable to trade with, mainly because it is lacking any regulation and licenses from a reputable regulator. This puts a trader at risk, so please do your due diligence before considering this broker. 

Reviewed By

Our Broker Review methodology

Our mission is to provide online investors with the most unbiased, comprehensive reviews and ratings of self-directed brokers. Vetted by multiple industry experts - including a financial research firm with more than 20 years of experience in broker ratings - Our Broker Ratings and Reviews embody industry best practices for research design.

See how we conduct review
  1. Ven Das says:

    I lost $50K, World markets is an absolute scam!

  2. Istis Lava says:

    3 weeks of waiting for a withdraw. They claim to have a problem with the 3rd party payment system Swiftxchange which doesn’t even exist. The website just says coming soon for over a month. At this point I would say away from them until they start processing payments.Support is getting back to you unless its about a withdraw then they just ghost you. I requested my first withdraw on Oct 3. waited until the Oct 10th to ask what is happening. Nothing for a whole week, so on Oct 15th I emailed 5 different departments and got two different answers. One person says its a 3rd party issue so they can’t do anything. The other email said there is a lot of people in the que and it will take a while to get through everyone. So which is it? You can’t process because of a 3rd party issues or a long que ?

    Please Stay away from Worldmarket by all means. They are scammers. Please Avoid by all means. I had to learn the hard way. They claim they have an affiliation with west way holding and made me invest almost all my life savings. AVOID! at all cost. On realizing that they were only playing games and not ready to send my invested capital alongside my profits back to me, I filed a complaint to my bank but then they couldn’t assist with a refund because the transaction was all authorized by me due to my negligence and dumbness. To cut this short, I got it back. I filed a chargeeback with CAPITAL -Recoup & Dial some months aago and got everyything and more bacck.A simple search via google will find them.

  3. Lama says:

    They are 100% a scam AND this website if they did an in depth review they would see this company has not been around since 2003 only their domain has.

  4. AH says:

    wmscam.com will provide some insight into this scam. They even mention the name of Reto Andreas Hosig who they claim is one of the people implicated in the scam. Switzerland. When WM thought that I was the creator of this website, they offered me a sum of money to remove the website.Calls to them are now diverted to a 3rd party who pleads ignorance and says he is being used as a cover just to answer calls.

  5. Eloise Reid says:

    A family member also invested in this scam AI trading, he got no access to withdraw, before the said 75days and got really hurt. He was scammed off over 52k which he was finally able to recoup within 2 weeks of hiring some private investigators on a platform called Forensic Pro, a simple search on google would find them. Worldmarkets agents are very cunning, stay away from this platform.

  6. Lama says:

    This a ponzi scam and should be shut down. Worldmarkets claim to be running since 2003 but there is no proof of them operating before Nov. 2019. DON”T INVEST PEOPLE you will not get your money back. I have been waiting over 6 weeks for a withdraw that was less than 10% of my total. They will ignore you if you ask any questions about your money. Many people are in the same boat and it is not just me. WorldMarkets mirror’s the Blue Trade scam and will more than likely shut down in Jan.

  7. Lama says:

    How do I know its a scam? Because me and other people have been waiting months for a withdraw. MONTHS…

  8. Pedro Rosa says:

    WorldMarkets that it is a clear worldwide Scam

  9. WAYNE REIMER says:

    I HOPE PEOPLE DONT INVEST ON THEm

  10. John says:

    SCAM !!!!
    WorldMarkets (.com) are biggest SCAM I have ever seen.
    More evidence here:
    fca.org.uk/news/warnings/world-markets

Share Your Opinion, Write a Comment