Metaversesworld Forex Broker

MetaversesWorld Forex Broker - Complete Information Guide

1. Broker Overview

　　MetaversesWorld is an online forex and CFD trading broker established on December 16, 2021. The broker operates under the ownership of Pristine Group LLC, which is registered in Saint Vincent and the Grenadines (SVG). This region is known for its lenient regulatory framework, which allows for easy registration of offshore companies, but lacks robust oversight for forex trading activities.

　　MetaversesWorld primarily targets retail clients interested in forex trading, offering services that appeal to traders looking for access to various financial instruments. The broker claims to provide a wide array of trading options, including forex, indices, shares, and commodities. However, the legitimacy of these claims is under scrutiny due to the lack of regulatory oversight.

　　The company has been marked by controversy from its inception, with several financial regulators in Europe issuing warnings against it. The broker is not publicly traded and operates as a private entity. Despite its claims of being a legitimate trading platform, the absence of a credible regulatory framework raises significant concerns about the safety of client funds and the overall reliability of its trading services.

2. Regulatory and Compliance Information

　　MetaversesWorld operates without any regulatory license, which is a critical red flag for potential investors. The broker has been blacklisted by several financial authorities, including:

• FMA (Austria) - Warning issued on July 23, 2022.
• CNMV (Spain) - Warning issued on September 19, 2022.
• BaFin (Germany) - Ongoing investigation into Pristine Group LLC, the parent company.

　　Due to the lack of regulation, there are no official regulatory numbers or licenses associated with MetaversesWorld. The absence of a regulatory framework means that client funds are not segregated or insured, posing a significant risk to investors. Furthermore, the broker does not adhere to KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures, which are essential for safeguarding against fraud and illicit activities.

3. Trading Products and Services

　　MetaversesWorld offers a limited selection of trading products, primarily focusing on:

• Forex Pairs: The broker provides access to major and minor currency pairs, although the exact number of available pairs is not specified.
• CFD Products: Traders can engage in contracts for difference across various assets, including indices, commodities, and shares. However, cryptocurrency trading is notably absent from their offerings.
• Special Products: The broker does not highlight any unique or proprietary trading products, which further questions its market competitiveness.
• Retail Trading Services: MetaversesWorld focuses on retail clients, providing them with access to the aforementioned products. There is no indication of services tailored for institutional clients or white-label solutions.

　　The frequency of product updates and the introduction of new trading instruments remain unclear, which could hinder traders looking for diverse investment opportunities.

4. Trading Platforms and Technology

　　MetaversesWorld provides a web-based trading platform known as WebTrader. This platform is described as basic and lacks the advanced features typically found in industry-standard platforms like MetaTrader 4 or MetaTrader 5. The absence of these widely recognized platforms raises concerns about the broker's technological capabilities and the quality of trading experience offered to users.

• Mobile Application: There is no dedicated mobile app for MetaversesWorld, but the web-based platform can be accessed on mobile devices through browsers.
• Execution Model: The broker does not specify its execution model, such as whether it operates on ECN, STP, or Market Making principles.
• Server Infrastructure: Details regarding server locations and technological infrastructure are not provided, which is crucial for assessing the reliability and speed of trade execution.
• API Access: There is no mention of API access or support for automated trading, which could limit advanced traders seeking algorithmic trading solutions.

5. Account Types and Trading Conditions

　　MetaversesWorld offers three types of trading accounts, each with varying minimum deposit requirements:

• Beginner Account: Minimum deposit of $250.
• Amateur Account: Minimum deposit of $2,000.
• Professional Account: Minimum deposit of $25,000.

　　The main differences between these accounts appear to be the level of service provided, such as access to personal account managers for higher-tier accounts. However, the broker does not offer a demo account, which is a significant drawback for new traders looking to practice without risking real funds.

• Leverage: The maximum leverage offered is 1:200, which is considerably higher than what is permitted by most top-tier regulators (usually capped at 1:30 for retail clients).
• Minimum Trade Size: The minimum trade size is not specified, which could be a concern for traders looking to manage their risk effectively.
• Overnight Fees: Information regarding overnight fees or swap rates is not disclosed, making it difficult for traders to understand the full cost of holding positions overnight.

6. Fund Management

　　MetaversesWorld supports limited payment methods for deposits and withdrawals, primarily focusing on credit and debit cards.

• Minimum Deposit Requirement: The minimum deposit is set at $250 for the beginner account, which is relatively standard in the industry.
• Deposit Processing Time: The processing time for deposits is not explicitly stated, leading to uncertainty for traders.
• Deposit Fees: There are no disclosed fees for deposits, but potential hidden fees cannot be ruled out.
• Withdrawal Methods and Restrictions: The broker's withdrawal methods are not clearly outlined, which raises concerns about the ease and efficiency of accessing funds.
• Withdrawal Processing Time: Similar to deposits, the withdrawal processing time is unspecified, which could lead to delays in accessing funds.
• Withdrawal Fee Structure: The fee structure for withdrawals is not provided, which could further complicate the withdrawal process for clients.

7. Customer Support and Educational Resources

　　MetaversesWorld offers several channels for customer support, including:

• Support Channels: Customers can reach support via phone, email, and online chat. However, the responsiveness and effectiveness of these channels are not detailed.
• Service Hours and Time Zone Coverage: Specific service hours and time zone coverage are not mentioned, which could affect international clients.
• Multilingual Support: The languages supported by customer service are not specified, potentially limiting accessibility for non-English speaking clients.
• Educational Resources: The broker does not appear to offer extensive educational resources such as webinars, tutorials, or eBooks, which are essential for helping new traders develop their skills.
• Market Analysis Services: There is no indication that MetaversesWorld provides daily market analysis, news, or research reports to assist traders in making informed decisions.
• Trading Tools: The availability of trading tools, such as calculators, calendars, or signal services, is not mentioned, which could hinder traders' performance.

8. Regional Coverage and Restrictions

　　MetaversesWorld primarily targets clients in Europe, with specific mentions of:

• Main Service Markets: The broker appears to focus on traders from countries such as Germany, Austria, Switzerland, Spain, and the Czech Republic.
• Regional Office Distribution: There is no indication of regional offices beyond its headquarters in SVG.
• Countries Not Accepted: The broker does not accept clients from the United States, which limits its market reach.
• Special Restrictions: The lack of regulatory oversight and warnings from financial authorities indicate that clients from regulated markets should exercise caution when considering this broker.

　　In summary, MetaversesWorld presents itself as a forex broker with various trading options, but significant concerns regarding its regulatory status, trading conditions, and overall reliability suggest that potential clients should proceed with caution. The absence of a robust regulatory framework and the numerous warnings from financial authorities highlight the risks associated with investing through this broker.