WorldStocks Review (2020): Scam Broker Discovered?
Is WorldStocks a legit broker? Is it a wise move to trust and trade with this broker? For your own sake, we advise you read this review on worldstocks.com.
Deciding to venture into Forex could be your jackpot, or it could be your undoing. This completely depends on whether or not your have the right footing in the market. To have the right footing, you will need to trade with the right broker. Our job here is to review these websites that claim to be one thing or another, then help you tell legit from deceit. The following review will tell you all you need to know about WorldStocks broker.
About WorldStocks Broker
Worldstocks is a brokerge company operated by HF and Company Ltd, located in Mahe, Seychelles. They offer trades in assets like crypto currencies, stocks, commodities and forex. According to their website, worldstocks.com, they are registered and regulated by the Financial Services Authority (FSA), Seychelles.
Some of the trading conditions presented by worldstcoks.com include; leverage of up to 1:150, minimum deposit of $250, minimum spread of 0.01, etc. The languages supported by this platform are English and German.
At first glance, this doesn’t seem too bad, or too good. That is why we became interested and decided to look deeper.
Why You Should Probably Avoid Worldstocks.com
While worldstcoks brokers might look as harmless as the next broker, consider these our findings before throwing in with them.
Address/Contact Information
This is probably the most confusing part of the website. Take a look at the photos below;
Looking closely at the first photo, you will notice that worldstocks.com traces it’s website to Mahe, Seychelles. They even claim to be registered and regulated by the FSA. Now look at the photo below that, it says in the terms and conditons that they are bound by the laws of Estonia. That’s two very different locations.
To cap it all, the contact phone number provided by the worldstocks.com carries a +35 country code. If you’re familiar with country codes, you will immediately realise that this code belongs to the Republic of Burundi.
With this, we already have untraceable links between worldstocks broker and three different countries. We believe this inconsistency is enough to call for hesitation.
Trading Platform
Worldstocks brokers offers up to 5 account types. These account types are essentials, micro, standard, premiuma and premium pro. Their minimum deposits are $250, $3000, $10,000, $40,000 and $200,000 respectively. The trading platform available is the MetaTrader4.
The site claims the MT4 platform is available on various platforms, e.g. Windows, Mac, Android, iOS, Web, etc. However, we find that we are unable to access any trading platfrom besides web. And even the web platform keeps bringing up something concerning AlgoTraders. While this is a decent platform, it isn’t the promised MT4. False promises also count as red flags.
Licensing and Regulation
The most important information to us when checking any broker is usually their license information. As seen in the two photos provided earlier, woldstocks.com claims on two occassions to be regulated by two different bodies; the FSA, Seychelles and the FI, Estonia.
Imagine our surprise on checking both bodies’ registries and discovering that Worldstcoks broker and their parent company, HF and Company Ltd did not exist there. Wolrdstocks is unlicensed, hence an illegal broker.
WorldStocks Review Conclusion: Is worldstocks.com Legit?
No. Worldstocks.com does not have verified ties to any regulatory body, meaning you trade with them at your own risk. We cannot recommend an unlicensed broker with this many inconsistencies to our readers. We urge you, however, to find and trade with licensed brokers who have proven results.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!
