WorldForex Review Is A Legit Or Scam Broker

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Trusted Forex Broker Reviews

Not even legends in the calibre of a Larry Williams or a Martin Schwartz will have much luck in currency trading if the broker is unwilling to cooperate – it has an overwhelming role in determining what type of experience you will have as a forex trader. The lack of clear rules and precedents creates great opportunities, but also huge risks for the unprepared.
But aren’t there always two sides to a story? To help our visitors avoid the dark side of forex, we have carefully screened the best offers in the online brokerage business, and prepared a selection of some of the most reputable and efficient brokers for your exclusive benefit. If you have any plans to explore the exciting world of currency trading, we are sure that you will find our list an invaluable guide in the crowded and sometimes shady world of the forex brokers. We recommend reading our listed brokers’ review pages for user reviews, e.g. OctaFX or FXTM review page.

Safest Forex Brokers 2020

*Broker offers variable spreads which are subject to fluctuating market conditions. Spreads tend to be tight during times of deep liquidity but can also widen significantly during times of low liquidity.

Want to be featured on this broker list? Use our contact form here.

More country specific forex broker listings:

Finding the Best Forex Broker – FAQ

Finding the best forex broker for your needs takes some research. Hundreds of online brokerage firms now compete for your account, so plenty exist to choose from. Check out our recommended top list above, or read our FAQ below with excellent points to consider before choosing your broker, or see this extensive five step guide on how to choose a forex broker.

Finding the best forex broker that has a fast execution capability, a reliable trading platform and which can be trusted with your account deposit might be the first things you will want to assure yourself of. Other sweeteners can include account opening bonuses and other features like mobile trading and SMS market alerts.

Basically, you want a forex broker you can trust to handle your money and your trades so that you can get on with the business of trading forex without worries. Anyway, to make the process of finding a broker simpler, the list above covers most of the key comparison points between forex brokers so that you can be better prepared for a successful search.

In the end of this page you will find many more brokers that did not make the top list, you can still read our reviews of them and give your comments on them or share your experience from them.

But first we will go through some of the criteria and features you should look for when searching for the best forex broker for you.


Most reputable online forex brokers take the step of submitting to regulation by one of the main financial regulatory agencies operating in their home country. Sometimes, they will even be regulated by more than one agency. Such regulation provides you with the security of knowing the broker’s operations are being overseen by an independent authority with the goal of keeping the business honest.

Is there a benefit to where a broker is located?

Location can make a big difference, especially if the regulatory regime in the country is top of the line. The most advantageous location has to be reserved for UK brokers, since London is the center of the foreign exchange business.

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Forex Trading in the UK

Early in the last century, nearly 50% of the world’s foreign exchange was conducted using the Pound Sterling. Today, daily forex trading turnover in the London market represents 41% of the world, more than double that of the United States at 19%. If you choose a reputable UK broker, then you can be assured that the firm can draw upon a broad pool of experienced and professional staff in the UK.

From a regulatory perspective, UK forex brokers must also comply with one of the strictest regulatory bodies around, the Financial Conduct Authority (FCA). Once again, the pool of UK staff will be very aware of best business practices and related compliance issues, another reason to choose a UK broker, if at all possible. One must, however, be due diligent when choosing a broker that claims to have offices in London, since the marketing aspect of this location has caused many overseas brokers to set up a “shell” presence in the UK to gain your trust, but without the benefits listed above. If you prefer a UK broker, then make sure that they are headquartered in London and have a significant presence there.

Forex Trading in Australia

The Australian Forex/CFD/Cryptocurrency landscape is an intricate one, where at least three different types of brokerages peddle their services. There are unlicensed, unregulated brokerages with a global reach, whose services may indeed be accessible to Australian traders too. Then, there are financial service providers who are not based in Australia, but who are licensed by ASIC to peddle their products there. Finally, there are Australian born-and-bred operations, firmly under the authority of ASIC.

If you are looking for a forex broker in Australia or that offers services for Australians then make sure to go here.

Data Security

When you either enter or store vital personal information online, it can be subject to falling into unfriendly hands that may use it for their own personal gain. Accordingly, a top priority when choosing a broker is that they encrypt all data entered into online forms using industry standard SSL-encryption or better.

Another key issue involves the safe storage of data so that it will not be lost in case of disaster. Many online forex brokers use duplicate data farms with high security to assure the safety of your account information.

Dealing Spreads

Many day trading strategies become unsuccessful over the long term if your account does not have access to competitive dealing spreads. The spread is simply the difference between the bid price and the offer price for a particular currency pair and should be no greater than five pips in the majors and major crosses, with wider spreads often seen in the minor crosses and exotic currencies.

Commissions and Fees

Sometimes brokers are not content just to have you dealing on their spreads. In this case, they might charge a commission or fee for each transaction. Sometimes these are calculated on a per transaction basis or on a volume dealt basis. Additional fees might be involves in making withdrawals or deposits, so be sure to check that information to minimize your transaction costs.

Order Types

Most forex brokers handle the basic market, stop and limit order types. Nevertheless, some brokers also offer support for OCO (one-cancels-the-other) and trailing stops. If either of these more specialized order types would be suitable for your trading plan, then be sure that your chosen broker supports them and make sure that you fully understand the limitiation of these different order types.

Currency Pairs

Since more currency pairs often means more opportunities to profit, you will want to make sure that your forex brokers offers all of the pairs you might be interested in trading. Some traders also like to have access to precious metals like Gold and Silver, in addition to oil, especially if they will be trading the commodity currencies like AUD and CAD whose exchange rates can depend on commodity price fluctuations.

Deposit Required

Unless you are just interested in opening up a demo or practice account with the forex broker, they will usually require a minimum deposit to be made for you to get started trading forex. Often, the more money you place on deposit, the more features you have access to or the tighter your dealing spreads become. Make sure that you research the broker thoroughly before sending a deposit.

Account Types

Account types vary considerably between brokers, but most offer demo accounts for practice trading, mini accounts for newer traders with a low minimum initial deposit, standard accounts for more experienced traders with a moderate deposit, and finally VIP accounts for larger initial deposits. Here is a list of forex brokers that offers demo accounts.

Also, the features offered with each account type vary quite a bit among the various forex brokers, so be sure to see which reputable broker will offer you the best deal for the initial deposit you have available to you.


Leverage refers to how much of a position you can control with a certain amount of funds allocated to it. Forex brokers currently offer leverage rates of as high as 500 to 1. What this means is that you can control a $50,000 trading position with just $100 allocated from your portfolio. Note that in the U.S. the maximum leverage is 50:1 for majors and 20:1 for minors.

Naturally, amplifying your risk by using leverage can result in larger gains, as well as larger losses, so be sure to use leverage wisely and avoid trading beyond your means.

Margin Requirements

Even though forex transactions are exchanges and not purchases of an asset like a stock or commodity, when the exchange rate moves, it creates credit risk for the counterparty showing a gain on the transaction. As a result, most forex brokers require that their clients place a certain amount of funds on deposit to cover such potential losses. This is known as the broker’s margin requirement.

Since margin requirements vary among brokers, you will want to make sure that the broker you choose has guidelines you can live with. Also, some brokers automatically close out trading positions when the amount of margin in your account is exceeded by trading losses, or according to other criteria, so be sure to understand such the implications of such policies for your trading business.

Trading Platforms

Most of the better forex brokers offer their own proprietary trading platforms for you to use to execute forex transactions with and to keep track of the market. These usually either take the form of web-based platforms that use access via your Internet browser or client-side platforms that you download to, install and run on your personal computer.

In addition, some brokers support independent trading platforms like the popular MetaTrader 4 platform that can be obtained free of charge and which many commercial forex trading robots are designed for.

Mobile Trading

Some forex traders require the convenience of trading and keeping in touch with the forex market via their mobile phone or other mobile device. Many brokers provide such services, so if this is important to you, check out what each broker offers in this regard and whether their software will work with your device.

Algorithmic Trading

Forex traders increasingly wish to automate their trading plans or algorithms to free up their time for other endeavors. They often do this by using a programming language to write down their decision process in an algorithmic format that can then automatically be executed by forex trading platforms that support this capability.

If you think you might want to automate your trading plan, check to see with brokers you are considering to see if they support this type of trading and how they do so.

ECN Brokers

ECN Brokers are brokers who use an Electronic Communications Network to provide price quotations and trading opportunities to their clients. The best way to picture an ECN is as an Exchange. Through an ECN, the broker puts various market participants into touch, directly. What that means is that it matches up trades so a seller will always find a buyer and vice-versa.

CFDs – Contracts for Differences

These days, CFDs are all the rage as far as online trading is concerned. These Contracts for Differences offer traders (and brokers) several advantages, which make the setup a very attractive one indeed.

A CFD is in essence a futures contract arrangement, between a broker (the CFD provider) and a trader (the client), the object of which is the difference between the current value of a traded asset (which can be just about anything, given the impressive market coverage of this financial derivative) and its value at the end of the contract. Find more information about CFD brokers here.

Market Alerts

Many brokers offers SMS or other types of market alerts to their customers. If you think this might be important to your trading business, look for this feature.


Those new to forex trading will want to have better access to both dealing support and technical support. See what services each broker under consideration provides and whether it will suffice for your purposes.

Information Resources

Newer traders often require educational materials about the forex market and trading in general to get started trading forex on the right foot. If this is important to you, research what the brokers you are considering have to offer in this regard.

Also, many brokers provide sophisticated news feeds, like Reuters for example, as well as proprietary market commentary and other timely information.

Dealing Desk Access

Some traders like to speak to a personal dealer or advisor at the broker in order to obtain inside market information and advice. Others like to be able to make transactions over the telephone in a pinch. If either of these options makes sense for you, inquire with your potential brokers whether dealing desk access will be available to someone with your anticipated initial deposit.

Managed Forex Accounts

There are three types of managed forex accounts, Individual, Pooled and PAMM accounts. Here is a list of recommended managed forex accounts that offers this kind of forex accounts.

Forex Club Review

The Forex industry is like a maze, once you find a good broker, you will be able to easily find your way out of it with profits. Forex Club (AKA Libertex) is one of the most experienced brokers in the market with almost 20 years in the field, backed by great experts in the Forex market.

Forex Club was founded in 1997, in Vladivostok, Russia, as a multinational company in order to support and provide financial services to clients from all over the world. Today, the headquarters of Forex Club is located in Moscow, above that, Forex Club has more than 100 branches around the globe. Note that, Forex Club is the main trademark for the company in CIS countries, while it’s called Libertex in the rest of the world.

Forex Club group operates more than one Forex trademark in many countries like Forex Club International LTD in ST. Vincent & the Grenadines, Indication Investments Ltd in Cyprus, Forex Club, LLC in Russia, Financial Company Forex Club Belarus Ltd in Belarus, along with the International Academy of investments and IT development centers across Europe and Asia.

Forex Club Broker Trading

FXClub is paving the way for clients to enter the world of stocks, currencies, indices, commodities and Crypto currencies. More than 110 popular stocks, including the most famous ones like Amazon, Google and Facebook; the most interesting Forex pairs such as GBP/USD, USD/CHF and AUD/CAD; Gold, Crude Oil, Silver are among other commodities available on Forex Libertex, Forex Club mt4 and other platforms.

Lately, Forex Club broker has entered the world of Crypto to assist traders take advantage of the huge impact Bitcoin currency did in the financial world. Forex Club provides a number of Crypto currencies on its platforms that include BTC, BCH, BTC Gold, DASH, ETH and others.

Minimum Deposit $10
Maximum Deposit Unlimited
Bonus Bonus Account Deposit Bonus Welcome Bonus
Minimum Trade Size 0.01 lots
Trading Platform Libertex , MetaTrader 4, MetaTrader 5, Mobile Platform, Rumus
Account Types Diamond, Exclusive, Gold, Platinum, Silver
Demo Account
Islamic Account
Account Currencies EUR, RUB, USD
Payment Methods
Withdrawal Fees depends on the payment method
Traders From USA
Forex Trading
Forex Broker Type No Dealing Desk
Maximum leverage 1:600
Spreads type Fixed / Variable
EUR/USD spread 0.00002
Bitcoin Trading
Maximum number of positions 300
Mobile Trading
Trading Signals
Automated Trading
Options Trading
VPS (Virtual Private Server)
One Click Trading
Stop Loss (No Slippage)
EA (Expert advisors)
Clients Funds Segregated
Education Center eBook FAQ Forex Сlub Academy Glossary Live webinars Market news Online Forex Trading Course Seminars Signals Video Tutorials
Commodities Copper, Gold, Platinum, Palladium, Silver, Crude Oil, Heating Oil, Brent Oil, WTI Oil, Natural Gas, Corn, Wheat, Soybeans, Coffee, Sugar, Cocoa
Indices AEX, FTSE 100, DAX 30, EURO STOXX 50, NASDAQ 100, NIKKEI 225, S&P 500, DOW JONES 30, RUSSELL 2000, CHINA A50, Invit40, IBEX 35, TA-25, Russia 50
Customer Support
Email [email protected], [email protected]
Contact form
Live Chat
Call Back
Support Hours 24/7
Supported Languages

Central Bank of Russia National Bank of the Republic Belarus Cyprus Securities and Exchange Commission

depends on the payment method

No Dealing Desk

Libertex Review

Forex Club broker presents traders with more than one type of platforms such as: Libertex, Mobile platform, Forex Club MT4, MT5 and Rumus. Libertex is a global brand with nearly 20 years of financial market, that has won Forex Expo 2020 as the best terminal. Learn at Libertex review that, Libertex is a regulated broker by the Central Banks of Russia and Belarus, and CySEC, in order for clients to guarantee their funds are in safe hands.

Clients can trade all the instruments on one platform without any hidden fees as Forex Libertex platform is featured with speed and simple, easy-to-understand interface at which clients can increase the investment growth rate from 2 to 500 times using the multiplier.

A Multiplier is one of the major tools in Libertex review that has the ability to increase trade’s profit potential. It’s recommended that novice traders use a minimum multiplier, which equals 1, in order to prevent loss in case of the market’s volatility. Forex Libertex is similar to the Web-Trader platform other brokers offer, where there is no need to download or install any additional applications and three levels protection system.

Note in Libertex review that, the minimum deposit is only 10$ to take advantage of the features of Libertex. Clients can deposit funds in any currency and it will be accordingly converted to US Dollars. The min trade size at Liberex review is only 10$.

At Libertex review, keep an eye on the commission charged for performing transactions that depends on the asset traded and starts from 0.03%. At Forex Libertex, the broker offers a leverage up to 1:600 with market order execution. Forex Libertex also can be installed on Ios and Android phones with direct access to the best instruments from your smart phone.

Other platforms at Forex Club review

At Forex Club Review, we are going to bring out all the pros and cons of Forex Club broker and how to use Forex Club demo and the truth about FXClub scam.

Forex Club MT4 has more than 100 instrument, where traders are able to open Forex Club MT4 accounts with one of two types of order executions, either MT4-Instant Execution where they can fully control the execution price or MT4-Market Execution with the market execution price.

Leverage at Forex Club MT4 is up to 1:500 with no minimum deposit required and 0.01 as a min lot. Note that, while on Forex Club Mt4 with Instant Execution, there are no commissions charged in opposition to MT4 with Market Execution where a commission of 0,04$ / 0,01 lot is deducted.

MT5, along with Forex Club MT4 advantages, gives more orders such as Stop-limit and sell Stop-limit, extra technical indicators, economic calendar. The min trade size at the MT5 is only 0.1 lot and leverage up to 1:500 with hedging service allowed.

The Remus terminal offers an array of special conditions for professional traders who seek an alternative to the usual sort of trade, it allows clients to trade with a full set of instruments and market analysis. The diversity of platforms offered by the brokers denies the rumors of FXClub scam.

Forex Club Broker Accounts

The types of accounts Forex Club broker offers, vary from the Silver one for simple dealing and up to the Exclusive account for gurus along with Forex Club demo. Let’s have a look on these accounts in details in Forex Club review:

Silver account: With no min deposit required to register, this account is the ideal for beginners who seek a simple experience. Holders get news feed on Forex Libertex or Forex Club MT4, daily analysis, Autochartist service, compensation for the deposit fee, no transfer fee between accounts, 24-hour customer service, SMS alerts in addition to introductory webinars / videos and basic educational course (introduction).

Gold account: Starts with 500$ as a deposit, holders get the same features as the previous account along with Trading Central service, investment ideas and educational course (main part).

Platinum account: The min deposit is 5000$ and gives the above mentioned advantages and also an indicator of participants sentiment, interest on deposits, trading systems and model portfolios.

Diamond account: The elite account where 50000$ is the min deposit. On top of the earlier quoted features, clients get personal assistant, direct line with the chief-dealer and the chief analyst beside the VIP support.

Exclusive account: As it’s called, clients get exclusive conditions with the min deposit starts from 500000$ to get individual approach to the system.

Notice in Libertex review that, holders of the above mentioned accounts get the free use of the Forex Club demo.

Forex Club Demo

In Forex Club review, upon registering an account, customers can immediately take advantage of the demo account. There is no much difference between the real account and Forex Club demo, apart from the depositing part. It can be used without limits and gives the opportunity to try new strategies and get used to Forex Libertex and other platforms before trying the real account.

While using Forex Club demo, clients get to do all the order types as is the case with the real account, receive reports on transactions, news feed for free. Left to say that, the news feed on Forex Club demo account comes with a 30-minute delay not as with the real account where news is issued instantly.

Bonus and Promotions

Forex Club broker offers its clients three types of bonuses to encourage them to trade. The one time welcome bonus that traders get when they trade at Forex Libertex which equals 100% of the first deposit.

The bonus account where clients can win real money out of it through promotions and competitions that can be transferred to the real account. The third bonus granted by the broker is an interest of 9-12% on deposit in case their deposit exceeds 5000$.

The promotions of Forex Club broker include the popular Refer-A-Friend with a 300$ as a bonus for every referral and a 100% compensation on the fee collected by the payment systems.

Libertex Review Support

By reaching this point in Libertex Review, clients already know that FXClub is one of the most prestigious brokers. It presents customers with a great support service through various contact methods that include phone numbers, Email addresses, live chat, call back and contact forms on the site.

Forex Club website is available in Russian, English, Chinese, Spanish, Indonesian, Malaysian and Portuguese to be closer to traders whenever an issue arises.

The educational center of FXClub is not as good as the rest of the brokers, however, it grants client online courses, Forex Club academy, free seminars, FAQ, glossary, master class for beginners, Ebooks, educational videos. Forex Сlub academy presents textbooks, videos, test questions and tasks, course forums, Online seminars and professional courses, personal consultations and individual training.

In addition to that, Forex Club broker offers paid educational services such as seminars and signal service.

FXClub Scam

Schemers are in every corner of the Forex world, that’s why traders should be more careful while looking for a good broker. Is FXClub scam or legit?, actually, FXClub scam is not true, however, it has a number of disadvantages that may affect its good popularity such as the limited training resources, the paid courses, commissions and no scalping.

Except that, there is no evidence of the FXClub scam, clients should get in touch with the support service before registering an account to be assured of their safety.

Read Forex Club review intently to figure out every aspect of trading with the broker and if FXClub scam is true or false.

Real Forex brokers reviews

To conduct successful trading, you need to find a reliable intermediary. Forex brokers reviews from other traders will help you successfully cope with this task. It is important to emphasize that real people publish them. Thanks to this, you get the accurate “first hand” information about the brokers you are interested in. Successful traders recommend first reading them and only then starting to work. Comfortable search engine allows to quickly find Forex brokers reviews at any convenient time.

What broker you want to write a review about?

Advantages: copytrading, low spreads, polite stuff, free webinars with interesting guest speakers

Disadvantages: the ranking system for copytrading favors daytraders

Comment: I think investing trading strategies could be very interesting for some traders. But if you don’t trade avtively, the system will not give you extra points even if you trade well.

Comment: Any form of loss of money while investing in stocks, forex, binary option or crypto is a painful thing most especially when you had high hopes on such an investment. I personally lost 72k€ over a year of investing in binary option and forex. Luckily for me I found it was all a scam and I fought to get my money back, after a few months someone introduced me to dimitru (at)ivtcysec-recovery,,tech. He is someone with the right skills to help us in such situations. Im ever happy to share my experience as I promised.

Comment: request for my money back from plusoption and thats where i realized its all a scam and they have been manipulating me and my account. Now how do i get my money back? ill just say i got lucky coming in contact with someone who helped me get most of my money back. so now i have made up my mind not to try any of these

Advantages: Good trading platform

Disadvantages: Withdrawal problem

Comment: In my 3 years of trading with HotForex, I rarely encounter any problem with the actual trading. Their execution is fast, and their trading platform (MT4) is very nice. But recently I had a nightmare withdrawing $500 from my account. My withdrawal request never got through. The system said it’s being processed but it ended up going to my account over and over again. I’m still in contact with their support but they give me contradicting messages every day. Kinda feeling hopeless now I might search for another broker to trade with.

Advantages: Competitive trading conditions Superb trading terminal and support team

Comment: Deciding to trade with Libertex was the best decision because it made me believe in trading again. With all the scams surrounding Forex trading due to fraudulent brokers, I nearly lost hope. I’m happy with this broker because it’s regulated and provides competitive trading conditions. My previous broker was a complete fraud – slippage, requotes, stop loss not being hit, and a trading terminal constantly slowing down. With Libertex, everything works smoothly. Lots of instruments to trade, fast withdrawal process, competent account managers, and superb support service team.

Advantages: Good support, tight spreads.

Comment: I dont really write reviews but AAFX Trading deserves a pat on the back. This broker is my second broker which was recommended by my brother. What I like most about AAFX is they got a very effective support system. One time my account was hacked, I turned to their support team which gave me a response within an hour. They froze my account until I had proven that it’s really my account. I got it back the next day. Another thing I like is the tight spreads. Yes, it can go really high especially during news releases but under normal conditions, spreads are really tight.

Comment: All these binary options, trading and cryptocurrency companies are scams, I lost a huge amount of money. Things have turned out good for me, being that I was able to recover my money thanks to a recovery pro. You can reach me if you’re interested in finding out how I recovered everything I lost. Rachelmillr4 gmai,l dt com

Advantages: Fast withdrawal, copy-trading opportunity

Disadvantages: Haven’t noticed yet.

Comment: I can’t say there’s any fabulous conditions here, everything’s standard. But as I mentioned above, everything works fine, I can freely use the capital and leverage to multiply it myself or difersify the risks by investing a part of the capital in copy-trading.This is my freedom and my ability to achieve my goals.

Advantages: Great mobile app.

Disadvantages: Lost it on a big leverage.

Comment: I trade only from my phone, so I am primarily interested in the mobile application. In aafx it was made as qualitative as possible, everything flies, there are no limits on the number and volume of orders.

Advantages: Warnings on investment

Disadvantages: No disadvantage

Comment: Warning to everyone with the plan of investing in any online investments schemes .There are certain limitations to investing in these schemes and also difficulties getting it tripled after a long while since 60% of these online investments schemes are scammers . I got involved with a company called “CryptoNXT” trading cryptocurrency but before I engaged with them, I mentioned to my account manager(Ross Malone) assigned to me by CryptoNXT, at one point about my dilemma with Click’s Dealer. He said it was absolutely a scam and he even knew some of the names of people I had dealt with. He said their web site, “Clicksdealer”, was a fraud and that my only hope was to try through Chase to get my money back Not knowing My experience with CryptoNXT Account manager Ross Malone would be a terrible experience for me. I started with an Initial sum of $300, this got me some trades winnings and a huge profit but at the end of it all, I ended up at the losing ends. I ended up losing all my hard earned savings, 180,000 USD which was meant to sustain me when I’m retired. I don’t know if I have a leg to stand on here. I am sure that somewhere along the line I agreed to Terms and Conditions which usually state that investing is a risk and there are no guarantees as to the outcome of my investments with them. Maybe that lets them off the hook. I just know I was lied to about the performance of my account every time they called asking for more money. The whole thing took a wrong turn right in my presence. I had cold foots immediately they pulled a fast one on me that i lost my funds to bad trades. I made a promise to myself to try every avenue I can to get back this money, though I think the odds are pretty slim, I saw some Good reviews of RAPIDASSETRECOVERY dotcom; A Consultancy And Recovery Firm that has helped certain victims get a refund from these Unregulated brokers. I decided to use them and all I can say is contacting them was the best decision I made all my lifetime. These scams will keep going on and on for a very long time. We can only do some good to ourselves by getting some enlightening on how to point them out. Be safe out there everyone.

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