World Markets is an award-winning global investment platform that enables people to achieve uncorrelated returns by trading in precious metals and digital assets. The company was started in 2003 as a precious metals dealer. After years of growth and recognition, the company changed its strategy to offer online Artificial Intelligence (AI) managed accounts. It also added digital assets such as Bitcoin and Ethereum. The company manages more than $30 million for retail investors, high net-worth individuals, and institutional investors. It has more than 50,000 clients worldwide.
World Barkes Advantages and Disadvantages
- Almost two decades in the financial industry.
- Uncorrelated returns.
- Combines both artificial intelligence and human capabilities.
- Low fees.
- No deposit and withdrawal fees
- Dedicated regional managers for Gold Premier Accounts.
- Customers can track performance.
- Clients maintain ownership of accounts
- It is not regulated, which is a bit risky.
- Little is known about the company and its management.
- Most of the information in the site cannot be verified.
- No market tools available in the website.
- No mobile apps.
World Markets is not like traditional brokers. The company’s core product is the AI-managed accounts. This means that you deposit money and the company’s algorithms will do the trading for you. The products that it trades are gold silver, cryptocurrencies ,and exotic metals like copper and rhodium. According to its website, the company claims that you can trade other currencies on its platform. However, a closer look at its self-trading page shows that this is not correct. Instead, the company redirects you to HYCM, which is an independent trading platform.
Tutorial: How to Register and Trade With World Markets
The process of registering with World Markets is relatively simple. First, it is recommended that you familiarize yourself with the platform. Visit the website and read as much information as you can about the company. Also, read the terms and conditions, which will help you know your rights when using the company.
After getting familiar with the company, you should visit this page. It is recommended that you select the first option, where you create a free $2,500 demo account. You should take time with this demo account to see how the platform is performing.
After being satisfied with the account, you should select the type of account that you want. There are two types of accounts. The standard account has a minimum amount of $5,000 while the gold premier account has a minimum balance of $25,000.
After selecting the account, you will be asked to give your email address and your password. This will take you to the next page, where you will be asked for more information. This information is your given name, family name, address, city, postal code, citizenship, date of birth, and mobile phone number. You will also be asked to submit your passport or ID and a utility bill. These are used for verification purposes. Also, you will be asked to tick several boxes. These are the disclaimer, whether you want an islamic account, whether you have a World Markets self-trading account, whether you are interested in discounted gold and silver bullion, and your two-factor authentification. After all this, you will be taken to your personal account.
As with all trading accounts, verification is very important and mandatory. The first verification you will need to do is to verify your email address. You do this simply by clicking the link that is sent to your email address after create your account. The company will also verify your passport or identification card and a utility bill. Also, you will be required to submit an updated photo of yourself. If you are an institutional investor, the company will seek other types of verification. It uses the corporate details for verification.
Deposits and Withdrawals
World Markets offers a number of ways of depositing money. You can only deposit if you have an active account. The various methods you can deposit money are wire transfer, Bitcoin, Bitcoin Cash, Ethereum, Other Cryptocurrency Transfer Deposit, Skrill, Neteller, RapidPay, and Webmoney. All of these have a 0% deposit fees. You can also deposit funds using Visa and Mastercard but this charges a 7% deposit fees. Cryptocurrency deposits are done by sending crypto to the wallets that have been provided.
You can withdraw funds from your account using Bitcoin, Bank Transfer, and Debit card. There are no fees when you use Bitcoin. Bank transfer charges a flat $35 while debit card transfers charge 2% of your fees. You withdraw your funds by filling a form in this page or sending an email message to [email protected] It is important to note that you can only withdraw funds once per quarter. Also, you must withdraw funds to your account. The company does this to ensure it remains compliant to KYC and AML regulations.
How to Invest
There are two methods of investing in World Markets. First, there is the self-trading account. This account allows you to trade directly in the financial market. In this, you can trade all types of currencies, equities, indices, and commodities. However, as mentioned above, World Markets does not offer this service. Instead, it works as an introducing broker for HYCM, which is the one that provides the platform. HYCM is regulated by CySEC, FCA, and CIMA.
The second method, which is the bread and butter of World Markets is to create a managed account. A managed account works like hedge funds. On this, the company will charge you a 1% admin fee and a 20% incentive fee. The incentive fee is charged on all profits that it generates. To do this, you just need to select the type of account you want and deposit funds. You can monitor your trades from your end.
World Markets Trading Platform
World Markets offers a single trading platform. This is the MQL Copy Trader platform. After you create an account, the dashboard will have a number of widgets. There is a trade orderbook that shows the trades that are open and how they are performing. There is a live chart. This chart is provided by TradingView, which is one of the most popular markets tool in the world. There are other tools that are provided by TradingView on the dashboard. As an investor, this dashboard will be used to view the performance of your trades and check your balances.
World Markets Information
Website URL: https://worldmarkets.com/
Languages: English. The company offers a Google Translate feature
Demo account: Yes
Deposit options: Bank transfer, Skrill, Neteller, Webmoney, Rapid Money, Debit cards, and cryptocurrencies.
Withdrawal options: Bank transfer, Bitcoin, cards
Regulation and Safety
Safety is one of the most important things traders and investors should always have in mind. World Markets is not regulated by any regulator like CySEC, FCA, and ASIC. However, the company uses regulations of the brokers it uses. In this regard, the company uses the regulations of HYCM, which is a fully-regulated organization. Therefore, when you deposit money, you are covered by HYCM’s regulations. However, World Markets still conducts KYC and AML.
World Markets Fees and Limits
World Markets charges two fees for its AI-managed accounts. The standard account has a minimum deposit of $5,000. The company charges a 1% management fee and a 20% performance fee. Therefore, if you have a $5,000 account, the company will take a $50 management fee. If the account gains by 20%, the company’s fees will be $200. The Gold Premier Account has a minimum deposit of $25,000. The company charges a 1% management fee and a 10% performance fee.
World Markets does not charge other fees. There are no upward limits on the amount of money you can invest.
World Markets Customer Support
World Markets allows a number of methods of customer service. It offers an email support method, where you can send an email message. The company also has phone numbers in 37 countries, which can be found here. World Markets has registered offices in Norway, China, Switzerland, and Iceland. It has representative offices in Manama and Panama.
How World Markets Compare to Other Brokers
World Markets is not a broker. Unlike other brokers, World Markets does not offer a trading platform. Instrad, the company acts as an introducing broker to HYCM, which is a large international broker. Another difference between World Markets and other brokers is that it is a dealing desk. This means that it trades directly for other retail and institutional clients. Another difference is that it sells physical precious metals like gold and silver.
Conclusion: Is World Markets Safe?
World Markets is safe when you consider that it uses trading platform and services provided by HYCM, which is a credible trading company with more than two decades in the industry. However, it is important to understand several things. First, very little, in terms of management and headquarters are known about the company. Most of the claims on its website cannot be verified. Second, the company claims that its algorithms perform well. However, this performance cannot be verified and there is no evidence of its future performance.
English. The company offers a Google Translate feature
Demo Account: Yes
Bank transfer, Bitcoin, cards
- Bank Transfer,
- Rapid Money,
- Debit Cards,