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Overall

WorldWideMarkets’ default fixed spreads make it an expensive broker, aside from its variable pricing for forex. Its US exchange-traded securities offering is interesting yet segmented away from its forex and CFD products, and customer service is limited to email.

By Steven Hatzakis / April 3rd, 2018 / Updated: June 2nd, 2018

help 58
Trust Score
Dislikes
  • Narrow range of forex and CFDs
  • Wide spreads on fixed pricing model
  • No phone support provided
  • UK entity doesn’t accept retail clients

Review Sections:

Founded in 2011, WorldWideMarkets (WWM) was established by the original co-founders of FX Solutions after they had sold that company to CityIndex. Today, WWM offers multiple platforms, including its own proprietary AlphaTrader platform developed by its technology arm, TAB Networks. It also offers third-party platforms such as the popular MetaTrader4 (MT4) platform developed by MetaQuotes Software Corp.

WWM also provides exchange-traded securities on US regional exchanges via the ViewTrade web-based platform branded as WWM EquityTrader, and offers institutional traders the Currenex platform. The broker offers 20 currency pairs, 12 indices, two metals contracts, three energy contracts, and a CFD on Bitcoin, across its trading platforms, and provides social copy trading on ZuluTrade.

WWM is regulated by the Financial Conduct Authority (FCA) in the United Kingdom (UK) through its UK entity, WorldWideMarkets Online Trading Limited, which caters only to professional traders. In the British Virgin Islands (BVI) the broker is regulated by the Financial Services Commission (FSC) via its BVI entity, WorldWideMarktes Ltd.

Disclosure note: the author of this review had previously worked at FX Solutions (and City Index) and subsequently at WorldWideMarkets.

Trust Score

Trading with a forex broker that traders can trust is crucial to success. Forex fraud and scams are, unfortunately, common in the industry.

Here at ForexBrokers.com, we maintain the largest independent regulatory database available on the web. Using 28 different variables, we have created a proprietary 1-100 score (higher the better) of overall trustworthiness, which we call, Trust Score. Is KVB Kunlun safe? Here’s our trust summary.

WorldWideMarkets
Trust Score58
Year Founded2011
Publicly-Traded Company (Listed) No
Regulated in Major Hub Yes
Regulated in Emerging Hub No
Authorised in the European Union Yes
CFTC Registered (USA) No
FCA Regulated (UK) Yes
IIROC Authorised (Canada) No
FINMA Authorised (Switzerland) No
ASIC Authorised (Australia) No
SFC Authorised (Hong Kong) No
MAS Authorised (Singapore) No
FSA Authorised (Japan) No
FMA Authorised (New Zealand) No
CySEC Authorised (Cyprus) No

Offering of Investments

The following table summarizes the different investment products available to clients of KVB Kunlun.

WorldWideMarkets
Minimum Initial Deposit$20.00
Currency Pairs (Total Forex pairs)20
CFDs - Total Offered15
Exchange Traded Securities: US Yes
Exchange Traded Securities: International No
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

WWM provides execution as a principal dealer to its clients across its available account types, except for Currenex, which requires a $10,000 deposit. With a fixed spread of three pips on the EUR/USD for its default platform offerings on MT4 and AlphaTrader, trading costs are not WorldWideMarkets’ strong point.

WWM does offer a variable spread-pricing model, although this must be requested manually for traders who want variable spreads. At the time of our review, no average spread data were published by WWM for its variable spread pricing.

The pricing and account types are currently segmented on WWM’s platform, and we would like to see the broker centralize these into one place so proper comparisons of execution methods and trading costs can be conducted.

WorldWideMarkets
Average Spread EUR/USD - Standard$3.00
All-in Cost EUR/USD - ActiveN/A
Active Trader or Premium/VIP No

Customer Service

Compare to our initial review of WorldWideMarkets last year, customer service at the broker has since been limited to only email support, as phone calls to the firm went unanswered or to voicemail, and live chat was not available during various trading session hours. Therefore, the rating of WorldWideMarkets in this category was significantly impacted.

For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.

Results:

  • Average Connection Time: >5 minutes
  • Average Net Promoter Score: 1 / 10
  • Average Professionalism Score: 0 / 10
  • Overall Score: 0.8 / 10
  • Ranking: 43rd (43 brokers)

Research

WorldWideMarkets provides research content from its team of in-house staff who publish daily updates on its blog, including technical and fundamental news analysis from the firm’s analysts. The firm also offers social copy trading via ZuluTrade in addition to the native Signals Market on MT4, and news headlines streaming from Market News International (MNI) on its platforms. The broker finished 40th out of 43 brokers in our 2018 Review.

WorldWideMarkets does not rank highly for research as it offers little by industry standards. This is an area where adding additional resources, such as sentiment tools and pattern recognition would help boost its otherwise basic offering.

Research aside, it’s worth noting that the firm’s educational portal appears to be taking shape with several plugins from the content provider Traders Education, although these resources were not fully ready around the time of our review.

WorldWideMarkets
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Acuity Trading No
Social Trading / Copy-Trading Yes
Social Sentiment - Currency Pairs No
Client Webinars No
Client Webinars (Archived) No
Videos - Beginner Trading Videos Yes
Economic Calendar Yes
Calendar Includes Forecasts No
Economic News Sentiment No
Trade Ideas - Backtesting No

Platforms & Tools

WorldWideMarkets offers its own proprietary platform under the AlphaTrader suite, in addition to offering MetaTrader 4 (MT4) for desktop and web. You can find full details on the MT4 suite developed by MetaQuotes Software Corporation in our MetaTrader Guide.

Moving to the AlphaTrader platform, which comes as a web-based and desktop-based version for Windows, I started with AlphaTrader Web, which is based on HTML5, and comes with a clean layout and straightforward navigation. .

WorldWideMarkets AlphaTrader Web platform

There aren’t many trading tools on AlphaTrader Web beyond a basic trade calculator and one-click trading. The default trade ticket window that appears when you click buy or sell to create an order is basic by industry standards.

WorldWideMarkets AlphaTrader Web Trade Ticket

Charting in AlphaTrader Web is smooth and includes 78 indicators and 37 drawing tools. Small improvements WorldWideMarkets should make include adding the option to save chart templates and keeping the symbol locked when transitioning a chart into full screen-mode.

WorldWideMarkets AlphaTrader web charting

Assessing the rest of AlphaTrader Web, two other minor drawbacks included the lack of a watch list to quickly add favorite currency pairs or CFDs, and the inability to sort open positions by various column fields, such as by profit/loss amounts or date opened.

We’d like to see a formal watch list feature added, and for more research tools to be integrated beyond news headlines – such as pattern recognition and sentiment – that would boost the AlphaTrader experience.

The desktop version of the platform does contain a few more features, as is usually the case when comparing desktop platforms to their web counterparts, although charts on AlphaTrader desktop had fewer indicators with just over 50 compared to the 78 found on the web version.

WWM AlphaTrader Desktop

Minor differences aside, the experience across both desktop and web are similar, yet AlphaTrader Web may be easier to access, making it the better of the two options. Meanwhile, traders looking for more advanced features, such as automated trading, may opt for WorldWideMarket’s MT4 platform.

WorldWideMarkets
Virtual Trading (Demo) Yes
Desktop Platform (Windows) Yes
Desktop Platform (Mac) No
Web Platform Yes
Social Trading / Copy-Trading Yes
Proprietary Yes
MetaTrader4 (MT4) Yes
MetaTrader5 (MT5) No
cTrader No
Currenex Yes
ZuluTrade Yes
MirrorTrader No
Charting - Drawing Tools (Total)37
Charting - Indicators / Studies (Total)78
Watchlists - Total Fieldsn/a
Order Type - Trailing Stop Yes

Mobile Trading

WorldWideMarkets offers MT4 mobile, where the iOS and Android versions of the MT4 app come standard and are both available for download from the Apple iTunes store and Android Playstore, respectively.

Metatrader4 mobile charts

Although AlphaTrader can be used on a mobile phone via a web browser, there is no native mobile app, which limits its usability for mobile trading. We’d like to see the broker launch a mobile app version of the platform to help unify the AlphaTrader experience and give traders more than just MT4 as a mobile app option.

WorldWideMarkets
Android App No
Apple iOS App No
Charting - Draw Trend Lines No
Charting - Can Turn Horizontally No
Charting - Technical Studies/Indicators30
Watch List Syncing No
Trading - Forex No
Trading - CFDs No
Alerts - Basic Fields No

Other Notes

The firm also advertises Currenex for institutional traders, although signup is not provided on the website and must be manually requested and requires a minimum deposit of $10,000 for an account to be established.

The firm’s WWM Equity Trader platform provides investors with access to the US Stock Market – including exchange-traded options, giving the broker an edge over other international firms that only offer CFDs on US stocks compared to an exchange-traded offering. However, the login page for the platform was not available around the time of our review, which suggests the platform is only available to current clients with funded accounts.

Final Thoughts

Looking at the full picture, WorldWideMarkets is expensive, lacks quality customer service, boasts a narrow offering of trading platforms and tools, and provides clients a limited number of instruments to trade despite its offering of US exchange-traded securities and a cryptocurrency CFD on bitcoin.

The firm’s FCA-regulated offering is appealing but only for designated professional traders (by UK standards), leaving retail traders with the BVI-entity as their only option.

Overall, it is no surprise that WorldWideMarkets finished 42nd out of 43 brokers in our 2018 Review.

Methodology

For our 2018 Forex Broker Review we assessed, rated, and ranked 43 international forex brokers. Each FX broker was graded on 140 variables. Learn more.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses."Learn more.


Steven Hatzakis

Reviewed by Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Over the past 19 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

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Ratings Overall

Summary

Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Education

Best in Class

2018
42 of 43

Overall

Commissions & Fees

Commission Notes

The trading costs at WWM depend on the trading platform used and whether pricing is fixed or variable, as highlighted below:

    • (Fixed) MT4 or AlphaTrader: The spread on the EUR/USD is three pips on the fixed-spread pricing
    • (Variable) MT4 or AlphaTrader: Average spread data were not available from WWM.
    • (Variable) Currenex: Average spreads data were not available from WWM.
    • WWM Equity Trader: Base commission of $14.95 per trade (extra $1.50 per options contract), and for trades over 350 shares there is a $0.01 per share charge, with a cap of 3% of the trade value. Options trades pay the base commission plus $1.50 per options contract.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All data was obtained from a published web site as of 4/03/2018 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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