WorldAW Forex Broker

WorldAW Forex Broker - Complete Information Guide

1. Broker Overview

　　WorldAW is an online trading platform that positions itself as a provider of various financial trading services. Although the exact date of establishment is not explicitly stated in the available resources, the broker claims to have been operational for several years. The company is headquartered in Paphos, Cyprus, specifically located at Vassil eos Theocharous Street 9, 1215 Paphos. It operates as a private entity, offering services primarily to retail clients interested in trading a wide range of financial instruments, including currencies, commodities, metals, stocks, indices, and cryptocurrencies.

　　The development history of WorldAW indicates that it has aimed to cater to a diverse clientele by providing advanced analytical tools and trading services. However, it has faced significant scrutiny regarding its regulatory status and operational legitimacy. Notably, the Hong Kong Securities and Futures Commission (SFC) issued warnings against WorldAW, categorizing it as an unregulated broker. This has raised concerns about the safety of clients' funds and the overall trustworthiness of the platform.

　　WorldAW operates under a business model that focuses on retail forex trading and offers various account types to meet the needs of different traders. However, the lack of transparency regarding its regulatory compliance and operational practices has led to skepticism regarding its claims of being a regulated broker.

2. Regulatory and Compliance Information

　　WorldAW claims to be regulated by several financial authorities, including:

• Cyprus Securities and Exchange Commission (CySEC) - License No. 227/31
• International Financial Services Commission (Belize FSC) - License No. 93/301/fd/09
• Mauritius Financial Services Commission (Mauritius FSC) - License No. F 550843197

　　However, multiple sources indicate that there is no registered entity under the name WorldAW with these regulatory bodies. As such, it is crucial to note that WorldAW is not regulated by any recognized financial authority, which significantly increases the risk associated with trading through this broker.

　　The absence of regulatory oversight means that WorldAW does not provide the fundamental protections that regulated firms offer, such as client fund segregation and participation in investor compensation schemes. Furthermore, the broker's KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures have not been disclosed, raising additional concerns about the safety and security of client funds.

　　In summary, the lack of regulatory compliance and the warnings issued by the SFC highlight the potential risks involved in dealing with WorldAW, leading to the conclusion that it is not a legitimate broker.

3. Trading Products and Services

　　WorldAW offers a variety of trading products, including:

• Forex Currency Pairs: The broker provides a selection of major, minor, and exotic currency pairs, although the exact number of available pairs is not specified.
• CFD Products: Clients can trade Contracts for Difference (CFDs) across various asset classes, including:
• Indices: Major global indices.
• Commodities: Precious metals and energy products.
• Stocks: Shares from various international companies.
• Cryptocurrencies: A range of digital currencies, although specific offerings are not detailed.

　　WorldAW claims to update its product offerings regularly, although specific details regarding the frequency of updates or the introduction of new products are not available.

　　The broker caters primarily to retail clients, providing trading services that allow individuals to engage in the financial markets. However, there is no mention of services directed toward institutional clients or any white-label solutions. Furthermore, the absence of asset management services is notable, as many brokers offer such services to diversify their client offerings.

4. Trading Platforms and Technology

　　WorldAW operates its own proprietary trading platform, which is accessible via web browsers. However, it does not support popular platforms such as MetaTrader 4 or MetaTrader 5, which are widely recognized in the industry for their advanced features and user-friendly interfaces.

　　The brokers platform provides basic functionality, including order placement, chart customization, and technical indicators. There is no indication that the platform supports automated trading or API access, which are essential features for many traders.

　　Mobile trading is available, but specific details about the iOS and Android applications are not provided. The execution model used by WorldAW is unclear, with no information on whether it operates as an ECN (Electronic Communication Network), STP (Straight Through Processing), or Market Maker.

　　The technical infrastructure, including server locations and reliability, has not been disclosed, which raises further concerns about the broker's operational capabilities.

5. Account Types and Trading Conditions

　　WorldAW offers several account types designed to cater to different levels of traders:

• Novice Trader Account: Requires a minimum deposit of $150, with standard terms suitable for beginners.
• Experienced Investor Account: Requires a minimum deposit of $1,000, allowing trading in metals and cryptocurrencies, with instant trade execution and deposit insurance.
• Professional Player Account: Requires a minimum investment of $10,000, offering privileged terms, deposit insurance, and 24/7 technical support.

　　The leverage offered by WorldAW ranges from 1:100 to 1:500, which is significantly higher than the limits set by many regulatory bodies, indicating a potential risk for retail traders. The minimum trading lot size and overnight fees are not clearly outlined, leaving traders in the dark regarding these critical aspects of trading.

　　Furthermore, the absence of a demo account policy limits the opportunity for prospective clients to practice trading without financial risk, which is a standard offering among many brokers.

6. Fund Management

　　WorldAW supports various deposit methods, including:

• Bank Transfers
• Credit Cards
• Cryptocurrency Transactions

　　The minimum deposit requirement varies by account type, starting at $150 for the novice account. Specific details regarding deposit processing times and any associated fees have not been disclosed, which could lead to unexpected costs for clients.

　　Withdrawal methods are not explicitly listed, and the processing times for withdrawals remain vague. Clients have reported difficulties in withdrawing funds, a common red flag associated with unregulated brokers. There is no detailed fee structure for withdrawals, which could potentially include high hidden fees.

　　Overall, the lack of transparency in deposit and withdrawal processes raises significant concerns regarding the management of client funds at WorldAW.

7. Customer Support and Educational Resources

　　WorldAW provides several customer support channels, including:

• Email: support@worldaw.com
• Phone: +35728287864

　　However, there is no information about live chat support or social media channels. The service hours and time zone coverage are not specified, leaving clients uncertain about when they can receive assistance.

　　The broker claims to offer multilingual support, although the specific languages available are not detailed. Educational resources appear to be limited, with no mention of webinars, tutorials, or eBooks. There is no indication of market analysis services, such as daily updates, news, or research reports, which are crucial for informed trading decisions.

　　Trading tools, such as calculators and signal services, have not been mentioned, indicating a gap in the support provided to clients.

8. Regional Coverage and Restrictions

　　WorldAW primarily targets clients in various regions, although specific service markets are not clearly defined. The broker does not provide details about regional offices or the geographical distribution of its services.

　　It is important to note that WorldAW does not accept clients from certain countries, particularly those with stringent regulatory requirements. However, the exact list of restricted countries is not available, which could pose a risk for potential clients unaware of these limitations.

　　In conclusion, while WorldAW offers a range of trading products and services, its lack of regulatory oversight, transparency, and customer support raises significant concerns. Prospective clients should exercise caution and conduct thorough research before engaging with this broker.