WorldWideMarkets Reseña

On-line since: 2010
Country of origin: the UK
Regulation: FCA
Payment options: bank transfer, bank cards, Skrill, Neteller
Minimum account size: $250
Minimum lot size: 0.01 lot
Leverage: up to 1:400
Spreads: floating, fixed

About the company:

WorldWideMarkets (WWM) is a broker that offers trading various assets on the innovative Alpha Trader and MetaTrader 4 platforms.

Safety of funds

WorldWideMarkets (a trade name of WorldWideMarkets Ltd.) was established by the founders of FX Solutions. The broker is licensed and regulated by the British Virgin Islands Financial Services Commission, while the activities of its subsidiary, WorldWideMarkets Online Trading Ltd., is controlled by the FCA.

Brokers that registered on the territory of the British Virgin Islands do not have to follow as many requirements as companies in the US and the UK. So, they are not obliged to participate in investor compensation programs and do not set requirements for minimum deposit.

On the other hand, the British brokers, such as WorldWideMarkets Online Trading Ltd., must have at least €730,000 and meet a number of requirements, for example, to keep clients' money on segregated accounts, send regular reports on transactions to the BVI Financial Services Commission and etc. Moreover, companies regulated by the FCA are covered by the Financial Services Compensation Scheme (FSCS), which protects traders and guarantees a return of up to £50,000.

Nevertheless, on the Internet, we found negative feedback from traders who claim that the broker is a fraud and steals clients’ profits.

Trading conditions

Despite the use of various trading platforms, WorldWideMarkets provides only one type of account with fixed and variable spreads for CFDs and currencies.

WWM clients can trade currencies, gold, oil, indices, stocks, options, and CFDs.

Minimum initial deposit

The minimum initial deposit required to open an account with WorldWideMarkets is $250, which is an average for the forex industry.

Spreads and commissions

Initially, WorldWideMarkets offered fixed spreads of 3 pips for standard pairs, which is quite high. However, recently the broker also added variable spreads: 0.4 pips for EUR/USD, which is considered relatively low.

WWM does not charge commissions, the company receives profit from spreads.

Leverage

The highest leverage that the broker offers is 1:400 for trading currencies, 1:200 for CFDs, which is considered relatively high.

If you need bigger leverage, there are many brokers that offer leverage as high as 1:500 and 1:1000. However, traders should remember that leverage increases not only profit but also can lead to big losses.

Trading platform

WWM gives access to two trading platforms: Alpha Trader and MetaTrader 4.

Alpha Trader is an internal desktop platform of the broker. It provides the necessary tools for analyzing price dynamics and monitoring market opportunities. The platform allows clients to trade in one click.

Like most forex brokers, WWM also offers MetaTrader 4, the most popular trading platform available for PCs and mobile devices.

These platforms are suitable for both beginners and experienced traders, as they feature customizable layouts, innovative services, professional tools, a set of charts, indicators, and drawing tools.

Bonuses

WWM clients can receive a welcome bonus that amounts to 10% of the deposit amount.

Support service

Traders can contact the support service team by phone, email, or live chat. It's also possible to contact the company representatives via Twitter or Facebook.

Payment methods

The payment methods available to WWM clients are bank cards, bank transfer, and electronic wallets Skrill and Neteller.

However, account holders registered in the UK can make a deposit only via bank transfer.

Advantages:

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

Disadvantages:

• negative feedback
• high fixed spreads.