World Forex 24: A Forex Broker Full of Lies

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World Forex 24 Review
  • Regulation
  • Fund Safety
  • Customer Support
0.5

Summary

There are too many risks involved in investing in World Forex 24. The design of these company’s operations is too shady to ignore. Every aspect of this company screams scam. If you are looking to invest in the forex space, this is not the company for you. Stick with trustworthy and legitimate forex brokers that have been in the market for a long time.

World Forex 24 is a forex broker that lies to its clients from the beginning to the end. Nothing on this company’s website is the truth. The people behind this platform want you to invest your money, and they will do anything for that. They are using lies to attract eager investors looking to make a quick buck from the forex market.

You should not trust any company simply by what they say. Ensure that you do enough research to see whether the company can deliver on what it promises. That is the best way to avoid scam operations like World Forex 24. Unfortunately, there are too many companies like this one in the market.

World Forex 24 Review, World Forex 24 Company

Nonetheless, there are better companies that will offer you better services. We recommend sticking with the best forex brokerage platforms in the market. Such companies have been in the market longer and have proven to work. They will offer you the best services without compromise.

In the meantime, here is our review of World Forex 24. It will cover the various aspects of the company to show why it is an untrustworthy broker.

Worldforex24.com Review

The founders of World Forex 24 claim that they launched the company back in 2012. This is the first lie that this company tells. They want you to believe that they have vast experience in providing forex brokerage services. However, this company’s website only launched in 2020. We do not know who these people are trying to fool.

Additionally, this company is trying to attract customers by offering a variety of assets to trade. Having options allows investors to spread their risk of investment across various markets. However, such perks do not matter when they are coming from a shady company. Moreover, there are many reliable companies with similar asset collections.

Further, you can tell that there are no professionals running this company. The website is very shallow and has a lot of gaps in critical information. There are no terms and conditions or FAQs. No serious forex broker would put out a website that is so shallow.

The only good thing about this company is that they have several contact channels. You can call the support team via +1 (425) 332-5121. You can also email the team at support@worldforex24.com. While this may be good, there is no assurance that the company will respond to any of your queries.

World Forex 24 Trading Conditions

As mentioned, the website of this company has many gaps in critical information. It is hard to figure out the trading conditions that these people offer. However, after digging a little deeper, we found out that it has some of the market’s worst trading conditions.

The company is offering clients maximum leverage of up to 1:400 on forex pairs. This is very high and increases the potential loss that traders may face in the market. This is the reason that US and UK regulators cap leverage at 1:50.

Additionally, we found out that this company does not have a real trading environment. When you try to access the trading environment, you land on a page with a lot of graphs. However, these graphs do not allow you to execute any trades. There is no point in sending these people your money if there is no trading platform.

Deposit and Withdrawal

World Forex 24 is promising clients a plethora of payment options on the website. The company claims to support bank wire transfers, credit and debit cards, bitcoin deposits, and e-wallet payments. However, this is far from the truth.

When you try to make a deposit, the only options available are card payments and bitcoin deposits. But it gets worse. Even the option of card payments does not work. This leaves Bitcoin deposits as the only option. This is not an ideal payment mechanism. It makes it extra easy for traders to lose funds.

This is because bitcoin transactions are permanent. Therefore, it is impossible to recover your funds once you send them out. Additionally, bitcoin transactions are between abstract addresses. Therefore, it is hard to trace your funds once you send them out. Do not trust a company that only supports this payment option. It is a recipe for disaster.

Founders and Physical Address

One of the tell-tell signs of a scam operation is the lack of names or faces on the website. Interestingly, World Forex 24 does not introduce us to any of the founders. We have no idea who they are or what their background looks like. 

There are too many risks involved in investing in mysterious people on the Internet. You may be investing with criminals without knowing. Moreover, such people may decide to take off with your money, and it will be impossible to track them down.

World Forex 24 Scam Review, World Forex 24 Features

Furthermore, only people running illegal operations see the need to conceal their identities. They do this to ensure that the law does not track them down. Your money is not safe in the hands of such people.

In terms of physical address, this company claims to operate from 22 Washington Square N,

New York 10011, United States. This means that you can walk into these offices in case of any trouble. However, there is a problem with this location. The company is not operating from here legally.

Regulatory Status

The regulatory status of a company tells us everything we need to know about the company. In this case, World Forex 24 is operating without a license from a regulatory body. This means that this company is operating in the US illegally.

Nonetheless, this does not stop the company from bragging about its regulatory status. The founders claim to have regulations from the FCA, CySEC, FSCA, DFSA, and SCB. Luckily, it is easy to check the regulatory status of a company from these bodies.

We queried World Forex 24 from the various registries and found no results matching this company. Evidently, the founders are lying about the company’s regulations to look professional. Do not fall for anything this company tells you. Your funds are not safe in the hands of these people.

Moreover, there is no mention of the bank the company uses to store client funds. Additionally, we cannot confirm that this company has segregated bank accounts. Further, there is no mention of the hardware or software that the company uses to protect its systems.

Therefore, hackers can easily access and steal your funds and sensitive information. There are far too many ways to lose your money with World Forex 24. Avoid these scammers like the plague.

Final Verdict

World Forex 24 is not a trustworthy company. The people behind this company are lying about everything. There is no professional behind the company’s operations. They are even lying about the date that they started the company.

Further, there is no transparency when it comes to this company. The founders are operating under full anonymity. Only illegal operations hide the identities of their founders.

The bottom line is that this is an illegal operation with an abysmal level of transparency. Even worse, customer support is non-existent.

You better stick with the market’s top forex brokerage ventures if you want professional services. Such companies are trustworthy and transparent. They have been in the market longer and have the trust of millions of investors.

 

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