It is impossible to keep track of the number of brokerage platforms that exist globally. Every day, several new brokers come unto the scene, promising to be the right platform to help you navigate the financial market.
In this review, we consider WorldStocks, a fairly new regulated broker that has captured the eye of both amateur and experienced traders. In case you are wondering whether or not you should use this brokerage platform, we believe you will find the answers you are looking for at the end of this article.
However, just before we dive in, let’s review some of the primary features that traders look out for when choosing a brokerage platform. After that, we will analyze WorldStocks to see whether it satisfies popular demand.
It is no longer new to hear stories about brokers declaring bankruptcy, or regulators sending out a red-flag about a brokerage platform. There are even more disheartening stories about investors losing millions of dollars to a brokerage scam, little wonder most traders only select regulated brokers as their choice.
The best brokers offer a state-of-the-art trading platform with advanced tools and functionalities for all classes of traders. Some of these include leveraged trading, real-time charts, access to multiple markets, and availability on various platforms such as web, mobile, and desktop.
While most brokers claim to provide all these features, there are always deficiencies. If there are none, then traders probably won’t have to port platforms in search of a reliable and feature-rich broker.
Liquidity and Execution
Irrespective of the asset, market, or pair, the best brokers offer a highly liquid order book with tight spreads and seamless execution. This way, traders can maximize profits on their winning positions and keep losses to the barest minimum.
Prompt Customer Support
Being technology-based means that there are bound to be difficulties when you use a brokerage platform. It could be failed deposits or withdrawals, a site bug, or other matters such as financial statements.
It is at times like these that traders appreciate receiving a prompt response from the broker’s helpdesk. Unfortunately, though, most brokerage platforms do not fulfill this promise, and often cost trader’s time as well as profit opportunities.
Now that we have insight about what most traders look out for when choosing a brokerage platform let’s see how WorldStocks compares.
What Will You Find on WorldStocks?
Access to Multiple Markets
Irrespective of the choice of assets you wish to have in your investment or trading portfolio, you can find it all on WorldStocks. The brokers offer up to 200 assets to trade on in the form of contract-for-differences (CFDs).
It is vital to note that with CFDs, there is no ownership of the underlying assets. Instead, you merely speculate on price action for these assets and profit or lose money based on the outcome of your predictions.
Assets you can trade on WorldStocks spans across the following financial markets.
Forex traders can expect to find their favorite trading pairs on WorldStocks, as well as other minor or major trading pairs. What’s more? You get a chance to trade them with competitive leverage at all times, increasing the possibility of amassing more profit.
Stocks and Indices
The stock market is one of the most liquid financial markets after currencies—shares in different companies traded globally by all classes of investors. With WorldStocks, there is almost no limit to the number of companies you can invest in, while you can also invest in indices such as FTSE 100, DJIA 100, etc.
Commodities are the building blocks of communities, little wonder the market around it is almost as old as man. Technology has enhanced the market further with WorldStocks offering investors full access to the most widely traded commodities, including gold, silver, corn, cotton, wheat, etc.
While many already refer to cryptocurrencies as the future of finance, the most experienced traders under that investing in these digital assets is not just a bet on whether they will succeed or not.
Instead, the focus is purely on how much profit anyone can amass from the wild price swings in the $200 billion cap crypto market that is not available in other markets.
On WordStocks, you can speculate on the most popular cryptocurrencies like Bitcoin, Ether, XRP without necessarily having to hold, mine, or own any of them. You also can leverage trade on cryptocurrencies for a fraction of their real-time price.
Diverse Account Types
Putting the various levels of trading experiences out there into consideration, WorldStocks designed a range of account types with different offerings and risk-protection functionalities to safeguard your capital.
Trading accounts on the platform are of five types at the time of writing this review. These include:
The minimum and maximum deposit limit fall between $250 for Essential Account holders and $200,000 for the Premium-Pro. The same thresholds apply for EUR and GBP deposits with the broker.
Additionally, as you would expect with any other broker, functions such as leverage, lot size, spreads, access to trading signal, and swap discounts increase you move up on the account types.
You also can upgrade or downgrade your accounts at any time, depending on your trading needs and portfolio size.
Given the inherent risks associated with trading CFDs, WorldStocks give beginners the opportunity to hone their trading skills using a demo account.
Thus, beginners can buy and trade with virtual money and enjoy reading through a wide range of educational materials to increase their knowledge of trading and investing.
It is only after amassing a wealth of experience with the demo account that we recommend signing up for a real account with the broker.
24/7 Customer Support
As we noted at the onset, although most brokers promise to offer reliable assistance to customers, they often fail at this promise. This can be frustrating and sometimes cost traders sizeable profits.
When you use WorldStocks, you can avoid such an unpleasant experience since the broker provides a 24/7 customer support desk that typically responds to inquiries within a few minutes or an hour.
A Contact-Us page and phone number are provided on the website so that you can easily reach out to the support team.
WorldStocks is operated by a firm licensed by the Financial Services Authority (FSA), and for this reason, is considered a reliable broker in terms of fund security and security compliance.
For anyone who understands what an FSA license means, the company would be regularly audited to ensure compliance. Additionally, the broker is mandated to maintain an insurance fund for investors, and also to keep client funds secure in a segregated account.
These requirements by the financial watchdog are designed to protect investors, including traders who choose to trade with WorldStocks.
World Stocks at the time of writing this review is available in both English and German languages. Being on the path to becoming a global financial market leader also means that clients can expect to see support for more languages rolled out in the future based on popular demand.
Frequently Asked Questions About WorldStocks
Does The Broker Offer a Mobile App?
Yes. WorldStocks offers its trading platform across multiple devices, including web, desktop, and mobile. The mobile app gives evidence of the broker’s attempt to satisfy popular demand.
A significant portion of the financial market trading volume today comes from traders on mobile devices, and every trader wants the ability to trade on-the-go, without missing out on any potential gains.
With a single WorldStocks account, your trades and account features are synchronized across devices.
Does This Broker Support Leveraged Trading?
Yes. Experienced traders harness the power of leverage trading to maximize profits on their winning positions. With WorldStocks, you can trade with leverage across all account types and even access some markets like crypto and Forex with leverage up to 1:500.
At this point, though, it is worth mentioning that leverage trading may not be a good option for someone new to trading—making the wrong calls could result in substantial losses and lead an individual into serious debt.
Do I Need to Submit KYC-Data?
Yes. This is a primary requirement for regulated brokers, and WorldStocks does its part to remain compliant with anti-money laundering (AML) and counter-terrorism financing (CFT) procedures.
Therefore, before you sign up with the broker, you’ll need to submit personal information such as a means of identity, proof-of-residence (utility bill or bank statement), and recent photographs.
After submitting these documents via email, your account will be marked “Verified,” and you can start trading. The entire process should be seamless as long as you submit all the required documents.
What Deposit and Withdrawal Methods are Available?
You should be able to move in funds easily and out of a brokerage platform. WorldStocks supports two primary deposit methods, that is, Wire/Bank Transfer and Debit/Credit cards.
With Debit/Credit cards, you enjoy instant USD, GBP, EUR transfer, and deposit up to $250 with no attached fees. Choosing a bank or wire transfer means you have to wait 1-2 business days for deposits to reflect on your trading account.
On the other hand, WorldStocks provides four withdrawal methods, including bank transfer, debit/credit cards, Bitcoin, and Neteller. Withdrawal fees and processing times differ between 3-7 business days.
How Do I Submit Complaints?
The broker provides a specific page for customs to submit complaints and express their grievances. You can rest assured that claims would be handled fairly, as no Manyld like to repel customers at a time when there is fierce competition for clients.
I’m In The U.S. Can I Use This Broker?
No. Regulatory barriers mean that WorldStocks cannot offer its world-class trading experience to U.S residents, or indeed any country on the OFAC-sanctioned list.
Trying to sign up on the platform using falsified identification documents or a VPN will likely not be a wise course as you risk losing funds and valuable time if your account gets busted.
However, if you’re from other countries, you can use WorldStocks without any geo-fencing restrictions.
Can I Make Deposits Via Bitcoin?
No. Although Bitcoin is fast becoming a popular deposit method for brokerage platforms, WorldStocks doesn’t support it for deposits at the time of writing this review.
However, the broker allows withdrawals via Bitcoin. These payouts are issued based on the BTC price at the time of the request. Also, it typically takes three days for the funds to hit your Bitcoin wallet.
How to Register on WorldStocks
The process of signing up for a WorldStocks account is pretty straightforward. First, you can navigate to the “Create An Account” page and fill in basic information, including phone, email, country, and your preferred password.
After confirming your email address, you can submit your compliance documents on the next page. Once your account is verified within a few hours or days, then you can fund your account using your preferred deposit method.
What Features Are Missing on WorldStocks?
In theory, there is no perfect broker. A number of improvements could be made to WorldStocks. For instance, the website could be provided in more languages other the current ones, English and German.
A LiveChat widget could be integrated into the website to allow customers to contact the helpdesk more easily. Also, while the broker enables withdrawal via Bitcoin, it could also support Bitcoin deposits to reduce the processing period between transactions and funds reflecting on a client’s trading account.
Final Words on WorldStocks
The countless number of brokerage platforms makes it a tough call for beginners to choose the right broker to begin their trading journey. However, advanced and experienced traders understand that reliable brokers are those who offer the best trading tools alongside a professional customer service experience.
As you may have concluded at the end of this WorldStocks review, the broker looks promising and could be worth adding to your trialist if you’re searching for a reliable brokerage platform.