World Markets is a historical online retail broker founded in 2003 that provides interesting trading functionalities both for retail and professional investors. Recently, they started to provide online trading opportunities, including forex, stocks, indices, commodities, and cryptocurrencies. The unique feature of the company is AI managed accounts and Security Tokens (STOs) trading.
A Platform in Step With the Times
WorldMarkets created its reputation for specialization in the Bullion (Gold / Silver) and digital gold trading, initially placing itself as a precious metal dealer. Over time, however, the company has been able to keep up with technology and has expanded its operations by providing online trading services that include forex, stocks, indices, commodities, and cryptocurrencies. Online services are not provided directly by WorldMarkets but are offered in partnership with some leaders of their respective sectors such as Bitmex and HYCM, respectively one of the largest cryptocurrency exchanges in the world and a leading multi-regulated broker. These partners allow WorlMarket to have an excellent level of trust towards its customers.
The onboarding process is quite straightforward. Depending on the type of trading you want to engage in, the process can start once you click the related “Open an Account” link within the page of the trading you wish to engage in. 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. Otherwise, if you are trading in cryptocurrency then you will be directed to the BitMex exchange to complete the sign up of your account. 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.
How to Trade
As mentioned, the trading features of WorldMarkets are mainly done thanks to external partners in particular through HY Markets. This is a MetaTrader broker and provides the use of both MT4 and MT5 platforms. These platforms have an excellent reputation in the forex broker industry and allow you to take advantage of the most technical indicators and charting capabilities on the market.
WorldMarkets also allows you to use functions that make trading semi-automatic. For example, MQL Copytrader is one of them. The more the process is automated, the more risks related to speed and execution are avoided. All these functions are available for both desktop and mobile versions. This makes WorldMarkets one of the most complete applications for traders as it is accessible to all traders working with Metatrader regardless of which broker they are using.
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
Other Features & Fees
Another peculiarity is that of AI Managed Accounts, an automated trading method through artificial intelligence that should guarantee massive returns. Apparently, the Gold accounts pay a 10 percent performance fee and a 1 percent annual management fee. You must deposit a minimum of $ 25,000 to use this account.
WorldMarkets doesn’t just offer excellent trading services. The platform is also ideal for the less experienced thanks to the Education section. There are a range of educational forex videos and trading educational videos which may be best suited to new traders. For the most experienced instead, the Research section might be more suited. The research area shows a variety of forex calculators and a detailed forex calendar available for use.
Commissions vary depending on the asset 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 (point in percentage) fixed spread and a 1.2 pips variable spread with no commission on trades, to 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.
In general, WorldMarkets is among the most complete trading platforms on the market. Almost all existing products including cryptocurrencies can be traded. It is ideal for both new traders and experts and is compliant with regulation. In fact, to access its services it is necessary to go through the KYC procedure. The company has been on the market for several years and has offices in major cities and financial hubs around the world including China, Norway, and Switzerland.