World Markets Review 2020

Rate World Markets

Regulated By:Not a regulated broker

Foundation Year:2005

Headquarters:Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-698K, 10119 Cyprus

Min Deposit:$2500

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Kate Leaman

Last updated: Feb 18, 2020

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“World Markets is focused on digital currency and trading in metals as CFDs. They appear to have already collected a number of awards for their efforts”

There is little information regarding the company and their operation available online, though our review team have done their best to collect as much detail as possible on this broker.

The company offers a variety of different products which include an AI managed account, a self trading account and a crypto exchange. For most of their products they act as introducers rather than the broker themself.

For instance, for self trading they refer to HY Markets and for cryptos they refer to the BitMex exchange. Additionally, they also allow you to invest in exotics, gold, silver and digital gold.

The broker puts a heavy focus on cryptocurrency as a means of funding and trading within your account and several markets predominantly focused on the trade in gold and silver are available. These will be some of the key areas for our World Markets review to focus on as well as the overall security and transparency within this operation.

Pros:	Cons:
Opens the door to a variety of trading types across the entire industry. High-Level partnerships across the industry make this quite a trusted outlet. With offices all over the word, you can always be sure of customer support in your language.	The service can seem overly complex and unclear to new users. There is not a lot of direct verifiable information available about the company. The education and research tools resources are quite limited.

General Information

Official Site:https://worldmarkets.com/

Demo:Open Demo Account

Regulated By:Not a regulated broker

Foundation Year:2005

Headquarters:Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-698K, 10119 Cyprus

Min Deposit:$2500

Max Leverage:1:25000

Publicly Traded:No

Deposit Options:Credit Card, Cryptocurrencies, Skrill, Wire Transfer

Withdrawal Options:Credit Card, Cryptocurrencies, Wire Transfer

Tradable Assets:Currencies, Commodities, Crypto

Trading Platforms:Proprietary

Commission on Trades:Yes

Fixed spreads:No

Trading Desk Type:Dealing Desk

OS Compatibility:Desktop platform (Windows), Desktop platform (Mac), Web platform

Mobile trading:Android, iOS

Accepts Us Clients:Yes

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World Markets Video Review

Investor Protection & Regulations

“World Markets do not appear to be regulated by any of the major global regulatory bodies like CySEC or ASIC”

Investor protection is obviously a very big issue when it comes to dealing with any broker. This is why most of the top forex brokers are consistently regulated. This does not appear to be the case with World Markets. Instead they leap off of the regulation of the brokers they refer to eg. So when you trade through World Markets you are actually trading with HY Markets and are then covered by their regulation.

With that said, they are anti-money laundering certified, have a KYC procedure in place, and have established a variety of high level links in the industry to facilitate trading, such as the CFDs they make tradable through HY Markets.

Tradable Products

“Cryptocurrency trading and trading in precious metals appear to be the main focus of WorldMarkets at this time”

World Markets seem to make a wide range of markets available for trading, though not in the traditional sense. It would appear that all of your tradings through World Markets is in fact done through a partner broker. With this in mind, automated trading through an “AI managed account” in a variety of markets is managed through MQL CopyTrader, precious metal spot trading is offered through a number of partners.

Primary among these is Bullion by Post and Bullion Vault, when it comes to cryptocurrency trading, the service is partnered with BitMex, and other trading markets are offered through HY Markets who are globally regulated and have been in operation since 1977. This adds a strong level of trust to the World Markets brand.

Account Opening

“Since World Markets partners with a variety of trading providers, this process may vary depending on the asset you are trading”

The account opening process when dealing with World Markets should be a straightforward one. Depending on the type of trading you want to engage in, the process can start one you click the related “Open an Account” link within the page of the trading you wish to engage.

In the case of forex trading, this would bring you to HY Markets where demo account options are available and minimum deposits start from $50.

When it comes to opening your live trading account through HY Markets, you will be directed to HYCM.com and you will be directed to the related homepage. From here once you click on the “Open Live Account” button on the top left, you will be greeted with the following basic sign up form:

You will then be prompted to enter more detailed information as follows:

Once you have completed this stage, you will be asked to complete some simple financial information and verify your documents.

If you are trading in cryptocurrency then you will be directed to the BitMex exchange to complete the sign up of your account. This process is similar for the other trading options facilitated through MQL Copytrader, Bullion Vault, and Bullion by Post.

Almost all of the brokers and services sign up processes are convenient. This means that from clicking the partner links of World Markets, your accounts can be open in under 15 minutes and you can begin trading.

KYC procedures are in place to ensure a safe trading environment and these have to be completed with each individual service. Typically this just means uploading a copy of your ID and proof of residence which can be quickly verified online.

Deposit & Withdrawals Options

“There are a number of funding options available for each service and broker that World Markets is connected with”

When it comes to funding your trading through World Markets, this will again depend upon which service you sign up for and for what type of trading. This ranges from product to product dependant upon which third party they are referring to. Typically speaking though you will place deposits through the 3rd party companies and withdraw in the same way. Bank wire transfers will generally be universally accepted for trading with HY Markets and the other services.

Major credit and debit cards as well as Skrill and Neteller eWallet deposits are also available in most cases. Due to the nature of cryptocurrency trading exchanges, funding through other crypto should also be made available if you want to join the exchange.

Deposits with the exception of wire transfers which can take 2-5 business days, are generally instant and available for trading right away. Withdrawals, which are available using the same methods you deposited with, can take 3-5 days to be processed and arrive at your destination account.

Web & Desktop Trading Platforms

“World Markets deals with a number of different broker types and services, meaning there are a range of trading platforms available”

The major services provided by World Markets which give the provision of a trading platform are doen through HY Markets. This is a MetaTrader broker, and provides the use of both MT4 and MT5 platforms.

With these platforms, you know exactly what you are getting as they have long established reputations in the forex broker industry. They both allow for an extremely robust style of trading and provide a selection of the most technical indicators and charting capabilities on the market when compared with any other platform.

Automated trading can also be easily facilitated through the platforms Expert Advisors function and many brokers choose to offer a news portal through the trading platform. Put simply, these trading platforms, both in desktop and webtrader variant provide everything you need to trade in a fast effective manner.

MQL Copytrader work with their own very intuitive and easy to use web-based platform. The fact that everything here can be automated helps to reduce the burden. BitMex also operates an exchange which is very easy to navigate and user-friendly with fast order execution and a range of charts and metrics attached to their web-based platform.

Within the account one you have opened it, you will have the option of downloading MT4 or launching the MT5 webtrader. Pictured below are precise instructions from the broker on how to go about this:

Once you have downloaded the file you will then click ‘Finish’ to complete the installation and launch the application. You will be prompted to choose the broker server.

Using MT4 after this is as simple as logging in with the username and password you have set.

You can then start trading on the platform. Note that in the desktop version you can use autotrading which is done through Expert Advisors. You can also use powerful charting features and can choose from a variety of features.

Additionally you can change the chart type (bar, line or candlestick), add or remove chart templates, add or remove grid lines or zoom in/out of the charts.

There are a number of ways to achieve the same things using the platform. For instance to place a new order, you can do this by either right clicking anywhere on the screen and choosing Trading > New Order or click directly on New Order on the toolbar, or you can click on one of the assets on the left side list and open a new trade window. You can also trade directly from charts.

Mobile Trading Platforms

“Mobile Trading is primarily made available for forex on HY Markets”

The majority of mobile trading with World Markets happens with those who are trading forex through the HY Markets arm of the company. In this regard, the MT4 mobile trading platform is available to all traders. Again this is one of the most powerful mobile trading platforms on the market. It is accessible to all traders regardless of which broker you are using so long as they are working with Metatrader.

Here are some more features available through the MT4 platform for mobile.

View charts, bid/ask prices and place new trades and orders
Get updates directly as a feed to your device.
Make use of charts to track price changes and to implement new indicators
There are 3 main chart types: bar, line and candlesticks.
You can switch between 9 timeframes
Access market and pending orders and risk management tools like S/L and T/P

Trading Features

“Trading features are only really applicable within the forex aspect of the service”

The HY Markets aspect of the service comes up with a range of trading features mainly through the Metatrader platforms when it comes to an economic calendar, Expert Advisors, and charting capabilities. Other trading features available include the complete AI automation which you can get when trading with MQL Copytrader.

When it comes to the other forms of trading available, these are lacking in distinct features as they are more focused on direct trading of the precious metal assets. However here is a list of the main products available through World Markets.

Crypto Trading:

Trade cryptos like Bitcoin and Ethereum through BitMex exchange. You can access leveraged crypto trading with this provider that has been around since 2014 and is considered one of the largest exchanges in terms of daily volume.

AI Managed Account:

World Markets offer automated trading though their Artificial Intelligence trading system. They claim massive returns, although this does not seem to be independently verified by third party auditors. Typically managed account fees are 20%performance fee for the Standard account and 1% annual management fee.

The Gold accounts pay 10% performance fee and 1% annual management fee. You must deposit a minimum of $25,000 to use this account.

Bullion Investing:

You can invest directly in Bullion gold through World Markets who connect you with a network of suppliers. Usually your product arrives within 1-3 days.

Digital Gold:

World Markets introduce you to BullionVault a third party, in order to purchase digital gold which is asset-backed.

STO Exchange:

World Markets refers traders to DX.Exchange to trade security tokens which are digital tokenized assets.

Commissions & Spreads

“Spreads and commissions can vary throughout the trade offerings with World Markets”

Applicable spreads and commissions on World Markets trading can vary depending on the area and assets you decide to trade. Within the forex trading area, the associated commissions and spreads of HY Markets will apply. These range from a 1.8pips fixed spread and a 1.2 pips variable spread with no commission on trades, to a 0.2 pips spread with a $4 round trade commission applied.

Within the AI managed account section, a 10-20% performance fee is charged. On the crypto exchange, fees will be low but also variable, while within the metals spot trading markets the spreads will also be variable and are typically higher than other markets depending on the asset and current price.

Bonus & Promotions

“There are no promotions, bonuses or trading contests on World Markets”

None of the services which World Markets provides facilitates any kind of bonus offering at this time. In the case of HY Markets, this is to remain compliant with strict ESMA regulatory conditions.

Customer Support

“Extensive customer support is available for traders when required through Email or phone”

As far as our review team can see, World Markets support extends only as far as email and telephone support plus a form. Telephone numbers are localized around the world and the contact us section also features some physical addresses.

Research

“There are no tools available for research at all”

Within the research area, there are no options available for traders. There are some provided directly by the Metatrader platform which incorporates a news function as well as its charting capability and HY Markets who make a variety of forex calculators and a detailed forex calendar available for use. When it comes to the other services provided by World Markets, research tools are limited or not available.

Trader Education

“Trader education at World Markets comprises or some forex related videos and articles only”

Again the primary place to receive any kind of education is through HY Markets who make a small amount of forex related education content and videos available. From World Markets you can also access a range of educational forex videos and trading educational videos which may be best suited to new traders. These work through the basics.

Trading Experience

“World Markets has so many trading options available that it is difficult to pinpoint one precise type of experience”

The overall trading experience and environment with World Markets is difficult to define. This is due to the function they perform in the industry. They are the connecting point between a variety of different trading services which each have their own trading environments and experiences.

With that said if you are unsure which type of trading you wish to engage in, World Markets may be a good starting point, so with that in mind, it is more geared toward new traders who are open to everything.

FAQ

Where is World Markets based?

World Markets have office locations in major cities and financial hubs around the world including China, Norway, and Switzerland.

How does World Markets make money?

World Markets make money through referring traders to the various services which they provide access to via their website.

How do I make a deposit into my World Markets trading account?

Once you have selected the type of trading you want to engage in, you will be directed to the related site to open an account and make your deposit.

What is the min. deposit for World Markets?

This minimum deposit is subject to change based on the type of trading you engage in, but generally starts from $50 based on forex trading.

Does World Markets Offer MetaTrader?

Yes, Metatrader is offered to World Markets users via HY Markets.

Conclusion

“World Markets seems relatively new to the business but a good place to connect with the type of trading you desire.”

Initially, the process involved with World Markets can seem confusing, but overall, it is a good starting point for those who may be unsure which type of trading they want to engage in and how to get started. The variety of trading types and partners they deal with can offer exposure to several investing and trading types. World Markets is an introducer rather than a Market Maker.

Here’s some of the main features of note of World Markets: