The last few years have seen a growing number of stock and trading platforms come in different parts of the world. The growing need and demand from investors for having dedicated and niche-oriented trading platforms have gone up considerably.
In this article, we look to cover a topic that has been gaining traction among traders and investors in the bullion space. We look to discuss World Markets, one of the leading trading platforms operating in the precious metals trading niche.
If you are someone that is thinking of opening an account on the trading platform, you might first want to check out our World Markets review. In this article, we are going to cover the following-
- History and a brief background about the World Markets platform
- Discuss the Major Pros and Cons of the platform
- Enumerate on some of the recent controversies surrounding the platform
- The Final Takeaway
World Markets Trading Platform: What is it all about?
A casual glance at the trading platform’s website will tell you that they were one of the first ones to offer specialized trading in bullions or precious metals. The company was founded between 2003 and 2005. While the trading platform started with only precious metals, over a period, it has been able to add the following assets and trading opportunities-
- Currencies and Foreign Exchange
- Stocks and Shares
- Commodities
- Cryptocurrencies
- Indices
As you can see, there has been an attempt to diversify its offerings to the client. If the website of the platform is to be believed, they have an active client base of more than 30000 traders and are handing an asset portfolio of more than $30 Million.
Yes, World Markets have been in existence for more than fifteen years now. This reputation has helped it form strategic partnerships with businesses like HYMC and BITMEX.
Any article on the World Markets review needs to discuss the AI software and tool that is available to the traders. The AI software is the one that is making all the trades on behalf of the clients on the platform. The platform provides an MQL Copy Trader that helps clients track their trades.
Pros and Cons of the World Markets Trading Platform
In this section, we are going to look at some of the major pros and cons of the trading platform.
Pros:
- The brand and organization are not new entrants. In other words, it has more than a decade’s worth of experience in the trading ecosystem.
- The platform does not charge any deposit or withdrawal fees from its clients. This is a far cry from its competitors who make sizable profits in this regard.
- MQL Copy Trader allows clients to track their exact investment portfolios. This helps with information and enables better decision-making at all times.
- If you are upgrading to the Gold and Premium Accounts, you can enjoy the benefits of a Physical and Dedicated Account Manager.
- The trading platform offers a great blend of both physical/human touches, as well as promotes technological integrations by using Artificial Intelligence.
Cons:
- By looking at the trading platform, you will never be able to guess it is not regulated. However, being unregulated makes the entire proposition a bit risky.
- While the company says that it manages $30 million in portfolios and has 50000 traders, the same cannot be verified. This leads to a loss of credibility in the platform.
- Who runs or manages the business is not available in the public domain. All you have is a workable website and no other kind of information about the owners whatsoever.
- Unlike its competitors that have a lot of tools in different marketplaces, World Markets does not have any. Neither are there any Mobile Apps for clients.
Recent Controversies surrounding World Markets on Online Forums
If you are someone that has been researching World Markets, you are likely to have come across a plethora of negative comments on sites like Trustpilot. In fact, most trading review sites and aggregator platforms warn users and encourage them to do their due diligence.
While there is no denying the fact that negative reviews and comments of people losing money can be found, there are some things that should be pointed out-
- The first ten negative reviews on Trustpilot have an email mention which everyone seems to encourage to get the money back. This itself looks like some kind of a scam.
- As a trading platform, World Markets have been around for a long time. In fact, it has won several credible awards in 2009 and 10.
- The absence of regulations by any centralized authority indeed allows their case to become quite weak. Having a regulatory seal of approval would boost trust.
While we realize the fact that not all trading platforms offer the best value or bang for the buck, the criticisms around World Markets seem to be growing with every passing day. As such traders should be willing to do their own research and figure out whether the platform is right for them or not.
The Final Takeaway
If you are an individual that is exploring credible brokerage opportunities, you should check out World Markets. Being pioneers in the field of trading billions, this might be a great option if you are looking to explore that niche.
In this article on the World Markets review, we have tried to cover some important bits that can help you make an informed decision on the topic. If you are unsure about the platform, you can always open a Trial Account and get first-hand experience.
If you have any other questions on World Markets or would like us to clarify any of the points that we have mentioned in the article, please let us know about the same in the comments below. We would be more than happy to help you out in this regard.
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