World Empires Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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This recently established company has shut down....I think it is safer to choose those that have been operating normally for a period of time, such as more than five years, when trading foreign exchange.
In this comprehensive review of World Empires, we delve into the broker's offerings, user experiences, and expert opinions. Overall, the feedback is overwhelmingly negative, with significant concerns raised about its regulatory status and the safety of client funds. Many sources highlight the lack of regulation and transparency, which raises serious red flags for potential investors.
Note: It is crucial to recognize that different entities may operate under similar names across various regions. This review focuses on the specific broker “World Empires” and its associated risks.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Additional Criteria | 3 |
We assess brokers based on a combination of user experiences, expert analysis, and factual data from various sources.
World Empires is an unregulated forex broker that has drawn significant scrutiny since its inception. While specific founding details are sparse, it is known to offer trading services in various asset classes, including forex and CFDs. The platform reportedly supports trading through popular software like MT4 and MT5, although user feedback suggests that the experience may not meet industry standards.
The broker operates without oversight from reputable regulatory bodies, which is a major concern for potential clients. Regulatory bodies such as the FCA (UK), ASIC (Australia), and others have issued warnings against unregulated brokers, and World Empires falls into this category.
World Empires does not hold any licenses from top-tier regulatory authorities. This lack of regulation is a significant red flag, as it means that the broker is not subject to any oversight, leading to potential risks for clients funds. According to ScamWatcher, the broker operates without any accountability, making it a risky choice for traders.
The broker reportedly offers limited options for deposits and withdrawals. Users have expressed concerns about the difficulty in withdrawing funds once deposited, which is a common tactic used by unregulated brokers to retain client money. Many sources indicate that clients may face high withdrawal fees or even outright refusal to process withdrawal requests.
Information regarding the minimum deposit required to open an account with World Empires is not consistently reported across sources, but it is generally recommended to be cautious with any broker that does not clearly outline its financial requirements.
World Empires does not appear to offer any legitimate bonuses or promotions. Many unregulated brokers often use enticing bonuses to lure clients, but these offers can come with hidden terms that make it difficult to withdraw funds or can be used as a tactic to retain clients deposits.
The broker claims to offer a wide range of trading options, including forex, stocks, and commodities. However, user experiences indicate that the execution and pricing may not be competitive compared to regulated brokers.
Details on spreads and commissions are not explicitly stated, which is a common practice among unregulated brokers. Many user reviews suggest that the costs may be higher than average, impacting overall profitability.
Leverage options are not clearly defined, but unregulated brokers often provide high leverage ratios, which can amplify both potential gains and losses. This can be particularly risky for inexperienced traders.
World Empires supports trading through MT4 and MT5, which are popular among traders. However, the overall trading experience may be hindered by the broker's lack of regulation and support.
There is a lack of clarity regarding which regions are restricted for trading with World Empires. However, many unregulated brokers often target regions with less stringent regulatory oversight.
Customer service options appear limited, with many users reporting poor communication and support experiences. This is a significant concern, as effective customer service is crucial for resolving issues that may arise during trading.
| Criteria | Rating (out of 10) | Detailed Explanation |
|---|---|---|
| Account Conditions | 3 | Lack of transparency and information on account types. |
| Tools and Resources | 4 | Basic tools available, but lacking in-depth resources. |
| Customer Service and Support | 2 | Poor communication and support reported by users. |
| Trading Experience | 3 | Unregulated environment leading to potential execution issues. |
| Trustworthiness | 1 | No regulation and multiple warnings from authorities. |
| User Experience | 2 | Negative feedback from users regarding withdrawals and support. |
| Additional Criteria | 3 | Limited information on trading costs and conditions. |
Account Conditions: Users have reported that the account conditions are not favorable, with a lack of clear information regarding minimum deposits and fees. This lack of transparency is concerning, as it can lead to unexpected costs.
Tools and Resources: While World Empires offers some basic trading tools, they fall short compared to regulated brokers. The absence of educational resources and market analysis tools can hinder traders abilities to make informed decisions.
Customer Service and Support: The customer service experience is notably poor, with many users reporting difficulty reaching support and slow response times. This can be detrimental, especially when traders need immediate assistance.
Trading Experience: The trading experience is marred by the brokers unregulated status, which can lead to execution issues and unfavorable trading conditions. Users have expressed frustration over slippage and order execution delays.
Trustworthiness: The lack of regulation is the most significant issue for World Empires. Without oversight from reputable authorities, traders are at risk of losing their funds without any recourse.
User Experience: Overall user experiences have been negative, with many traders warning others to avoid this broker due to the potential risks involved.
In conclusion, the World Empires review presents a concerning picture for potential investors. The lack of regulation, poor customer service, and negative user experiences indicate that this broker may not be a safe choice for trading. Always conduct thorough research and consider regulated alternatives to protect your investments.
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