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World Markets Review | Security, Apps & Features | Invezz

World Markets’ business starts with its core physical and digital precious metals trading platforms. With more than 40 years of experience facilitating gold and silver trades, World Markets has considerable expertise when it comes to facilitating precious metals trading.

World Markets Overview

What can I do with World Markets?

World Markets’ business starts with its core physical and digital precious metals trading platforms. With more than 40 years of experience facilitating gold and silver trades, World Markets has considerable expertise when it comes to facilitating precious metals trading.

World Markets also gives users the ability to trade other kinds of precious metals, including platinum, palladium, rhodium and copper. Its other offerings include oil, natural gas, cotton, sugar, stocks, cryptocurrencies (such as Bitcoin) and fiat currency pairs.

World Markets offers three different kinds of trading accounts: self-trading, artificial intelligence-powered trading and cryptocurrency trading (via World Markets’ relationship with BitMex). In promoting its AI-powered trading tools, World Markets notes that they can scan “thousands of potential trades in a matter of seconds to determine the lowest-risk opportunities available.”

What cryptocurrency/fiat pairs can be traded?

Worldmarkets.com has a partnership with BitMEX as its preferred cryptocurrency exchange. Cryptocurrencies eligible to be traded through that BitMEX partnership include: Bitcoin, Dash, Ethereum, Ethereum Classic, Litecoin, Qtum, Monero, Ripple, Tezos, and Zcash.

That said, Bitcoin is the exchange’s base cryptocurrency, which thus influences its pair offerings. Profit or loss on trades, regardless of which fiat or cryptocurrencies make up a given pair, are also always calculated in Bitcoin.

Here’s a list of cryptocurrency and fiat currency pairs offered via the BitMEX partnership:

  • BTC/USD
  • BTC/ETH
  • BTC/ABA
  • ETH/USD
  • XRP/USD
  • LTC/BTC
  • BTC/EOS
  • BTC/TRX
  • BTC/BCH
  • BTC/XRP

Payment methods

World Markets offers a number of different methods for funding your trading accounts. These include:

Bank Transfer

Arguably the simplest way to fund your trading account, albeit the slowest. You can use a basic bank transfer or wire transfer. Note that it can take up to five days for the funds to reach your trading account and be available for us.

Debit card (Visa, Mastercard)

Use your Visa, Mastercard, or bank-affiliated debit card to fund trades. Whichever card you use, it must be in your name or you’ll be unable to use it.

Electronic wallets (Skrill, Webmoney)

You can use electronic wallets such as Skrill and Webmoney to fund your trading account. Electronic wallets tend to make deposits instantly, though it’s important to note that withdrawals can take up a week as they require approval from the platform.

Cryptocurrency (Bitcoin, Ether)

One of the few companies that will accept cryptocurrency as deposits. Currently, our research shows they only accept Bitcoin and Ether (ethereum).

What devices can I use World Markets on?

World Markets offers both web-based and mobile platforms for trading. This means you can use World Markets on your laptop, tablet or mobile phone, and run it on all of the most popular browsers (Chrome, Safari, etc.).

How easy is it to use World Markets?

The World Markets trading platform is relatively easy to use. It’s designed in an intuitive way, enabling novice traders to make their first trades without any major problems or delays. Its mobile platform is no more complicated than its web-based platform, so traders who like to make trades on the go won’t face any complications.

Beyond its easy-to-use platform, World Markets also features a robust education section that delves into many topics. On the site, you’ll find videos explaining the basics of Forex Education, Fibonacci, Candlesticks, Chart Formation Patterns, Forex Indicators, Timing in Forex, MetaTrader4 and Cryptocurrencies. The site also offers daily financial news reports on its trading dashboard, helping you stay up to date with the latest market news.

Countries supported

World Markets accepts clients from every country, except: USA, Austria, Belgium, Cuba, North Korea, Syria, Iran, Libya, Russia, Yemen, Sudan, Somalia and Myanmar.

Regulation

World Markets is regulated. For its self-trading accounts, World Markets allows traders to connect with HYCM, which is regulated by the Financial Conduct Authority (FCA) in the UK, Cyprus Securities and Exchange Commission (CySEC) in Cyprus and CIMA in the UK.

Account verification

Like other trading platforms, World Markets requires you to verify your account before you start trading. This means providing your name, email address and mobile number when you sign up.

You’ll also need to upload documents to provide proof of identification and residence before you can start trading. You can do this directly through their digital platform scanner. As long as you have documents that prove your identity and your address, the verification process is quick and painless.

Customer service

We posed multiple questions to the customer service department via a link on the World Markets site. The site promises to submit replies to any questions within one to two hours. The response time in this case was about one hour, in keeping with that promise.

User reviews paint a similar strong picture of World Markets’ customer service, noting rapid response times and satisfactory answers to user queries. Customer support is available 24 hours a day, five days a week, a common standard among trading platforms.

Are there fees for trading?

World Markets does not charge trading fees. Instead, the site charges fees once a month, taking 20% of trading profits for Standard accounts and 10% for Gold Premier accounts. World Markets’ rationale is that its trading tools (especially its AI-enabled tools) can give traders an edge when compared to other trading platforms. World Markets does not take any fees from traders who are not profitable.

If you don’t make profits, World Markets charges a 1% annual management fee for Standard Account holders. The site waives the management fee for Gold Premium Account holders.

What is the minimum spread?

When trading assets on a CFD trading platform, the minimum spread is the difference between ask (selling) prices for a given asset, and the market bid (buying) price. WorldMarkets.com does not charge any spread markups for its Standard Account.

Can I trade with leverage?

Yes, you can trade with leverage. Trading with leverage allows you to dramatically increase the size of your gains when you bet on the price movement of an asset and make the correct call as to its direction.

Leverage is an especially valuable World Markets feature if you’re an experienced trader, and if Bitcoin is your preferred cryptocurrency to trade. This is because you can use up to 100x leverage when trading the BTC/USD pair through BitMEX. Just be aware of the risks of using leverage, as the size of your loss also dramatically increases if you guess wrong.

Can I open long and short positions?

Yes, you can open both long and short positions on World Markets. If you believe the prices will drop, then you can go short (sell). If you think prices will rise, you can take a long position (buy).

Are there withdrawal and deposit limits?

There are no deposit and withdrawal limits on World Markets. You should note though that withdrawals can only be made once per calendar month.

Extra Features

Artificial Intelligence (AI) trading accounts

There aren’t many of these around. So to have options is already impressive! If you choose an AI account, you have three options:

  • Trial Account – This level requires a minimum deposit of €2,500. This lets you test-drive the site’s AI trading tools for 30 days, after which point you are required to upgrade your account if you wish to continue using those tools.
  • Standard account – To unlock this account, you must make a minimum deposit of €5,000. With a standard account, you get full access to AI Trading on all instruments. You’ll pay a Performance Fee (meaning you keep 80% of winning trade profits, with World Markets keeping 20%) or a 1% Annual Management Fee. You pay no deposit or withdrawal fees besides credit card transactions. You can make monthly withdrawals. And there are no spread/pip markups.
  • Gold Premier account – To unlock this account, you must make a minimum deposit of €25,000. With this account, you get exclusive access to WorldMarkets.com Beta Systems. You pay a 10% Performance Fee, with no Annual Management Fee. You also get discounts on gold and silver bullion products, a free safety deposit box, a free crypto hardware wallet, conference call access, invitations to investor conferences, affiliate bonuses, and customer support on weekends.

Conclusion

Drawing on more than 40 years of experience – over 20 of which have been regulated in the UK – World Markets is an established trading platform that offers a wide range of services for traders to choose from.

We’d prefer it if World Markets offered a demo account for traders thinking about taking the plunge but wanting to test-drive the platform first. That said, World Markets’ impressive array of educational videos, its experience as a marketplace to trade precious metals and other assets, and its easy to navigate platform, offer enough positives to warrant a recommendation.

How to set up an account

Want to open a World Markets account? Here’s how it’s done:

  1. Go to the WorldMarkets.com official website and click on the “Open Live Account” button.
  2. Complete the registration form and fill out the questionnaire in order to register.
  3. You will get an activation email confirming your information.
  4. To start trading, you will need to verify your identity and residence, which can be confirmed via the digital scanner on the site.
  5. Deposit the amount you want to use to start, which can be done via bank transfer, debit card, electronic wallet or cryptocurrency.
  6. Start trading!
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Daily Financial News

Don’t Count On JPY Correction; Staying Long GBP/JPY

The path of the potential pace of the JPY decline may still be underestimated by markets, which continue trading the JPY long.

While the 10% USDJPY advance from September lows looks impressive from a momentum point of view, it may no thave been driven by Japan’s institutional investors reducing their hedging ratios or Japan’s household sector reestablishing carry trades.

Instead, investors seemed to have been caught on the wrong foot, concerned about a sudden decline of risk appetite or the incoming US administration being focused on trade issues and not on spending. Spending requires funding and indeed the President-elect Trump’s team appears to be focused on funding. Here are a few examples: Reducing corporate taxation may pave the way for US corporates repatriating some of their USD2.6trn accumulated foreign profits. Cutting bank regulation could increase the risk-absorbing capacity within bank balance sheets. Hence, funding conditions – including for the sovereign – might generally ease. De-regulating the oil sector would help the trade balance, slowing the anticipated increase in the US current account deficit. The US current account deficit presently runs at 2.6% of GDP, which is below worrisome levels. Should the incoming government push for early trade restrictions, reaction (including Asian sovereigns reducing their holdings) could increase US funding costs, which runs against the interest of the Trump team.

Instead of counting on risk aversion to stop the JPY depreciation, we expect nominal yield differentials and the Fed moderately hiking rates to unleash capital outflows from Japan.The yield differential argumenthas become more compelling with the BoJ turning into yield curve managers. Via this policy move, rising inflation rates push JPY real rates and yields lower, which will weaken the JPY. Exhibit 12 shows how much Japan’s labor market conditions have tightened. A minor surge in corporate profitability may now be sufficient, pushing Japan wages up and implicity real yields lower.

JPY dynamics are diametrical to last year . Last year, the JGB’s “exhausted”yield curve left the BoJ without a tool to push real yields low enough to adequately address the weakened nominal GDP outlook. JPY remained artificially high at a time when the US opted for sharply lower real yields. USDJPY had to decline, triggering JPY bullish secondround effects via JPY-based financial institutions increasing their FX hedge ratios and Japan’s retail sector cutting its carry trade exposures. Now the opposite seems to be happening. The managed JGB curve suggests rising inflation expectations are driving Japan’s real yield lower. The Fed reluctantly hiking rates may keep risk appetite supported but increase USD hedging costs.Financial institutions reducinghedge ratios and Japan’s household sector piling back into the carry trade could provide secondround JPY weakening effects

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Daily Financial News

Mexico raises interest rates, cites Trump as risk

The head of Mexico’s central bank says U.S. Republican candidate Donald Trump represents a “hurricane” sized threat to Mexico.

Banco de Mexico Gov. Agustin Carstens told the Radio Formula network Friday that a Trump presidency “would be a hurricane and a particularly intense one if he fulfills what he has been saying in his campaign.”

Trump has proposed building a wall along the border and re-negotiating the North American Free Trade Agreement.

Mexico’s central bank raised its prime lending rate by half a percent to 4.75 percent Thursday, citing “nervousness surrounding the possible consequences of the U.S. elections, whose implications for Mexico could be particularly significant.”

Mexico’s peso had lost about 6 percent in value against the dollar since mid-August. It recovered slightly after the rate hike

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Financial News

Africa’s first Fairtrade certified gold co-operative offers hope to gold miners living in poverty

Syanyonja Artisan Miners’ Alliance (SAMA) has become the first artisanal small scale mining co-operative in Africa to become Fairtrade certified, bringing much needed hope to impoverished communities who risk their lives to mine the rich gold seam that runs around Lake Victoria.

SAMA is one of nine previously informal groups from Uganda, Kenya and Tanzania which has benefitted from a pilot project launched by Fairtrade in 2013. This innovative program aims to extend the benefits of Fairtrade gold to artisanal miners across East Africa.

In that short time, SAMA has undergone training in business and entrepreneurship, as well as safe use of mercury, internal control systems, labour rights and better working conditions, health and safety and more. Previously, daily contact with toxic chemicals used to process gold meant members risked disease, premature births and even death.  Fairtrade gold was first launched in 2011, and SAMA now joins Fairtrade certified gold mines MACDESA, AURELSA and SOTRAMI in Peru.

The co-operative produces just 5 kg gold per year, but nevertheless has the potential to significantly benefit many people in the local community through better conditions through certification. It is expected that Fairtrade and organizations like Cred Jewellery will support the miners, ensuring their gold can be refined and made available to jewellers in the UK and other markets.

Gonzaga Mungai, Gold Manager at Fairtrade Africa said: “This is a truly momentous and historical achievement and the realisation of a dream that is many years in the making. Gold production is an important source of income for people in rural economies. Congratulations to SAMA, it sets a precedent which shows that if groups like this can achieve certification, then it can work for others right across the African continent.”

The Fairtrade Gold Standard encourages better practice and changes to come in line with international regulation around the production and trade of so-called ‘conflict minerals’. Under the Standard, miners are required to:

  • Uphold a human rights policy preventing war crimes, bribery, money laundering and child labour
  • Clearly represent where the minerals were mined
  • Minimise the risks of conflict minerals through robust risk assessments and collaboration across supply chains
  • Report to buyers and trading partners regarding the risks of conflict minerals

Now in its second phase, the programme will focus on supporting other mining groups in the region to access affordable loans and explore a phased approach to accessing the Fairtrade market, allowing more mining co-operatives across Africa to participate in the programme.

Gonzaga added: “Sourcing African metals from smallscale miners in the Great Lakes Region is the responsible thing to do. For a long time companies have avoided buying gold from this region, with devastating consequences for impoverished communities who were already struggling. It has driven trade deeper underground, as unscrupulous buyers pay lower prices and launder illegal gold into legitimate supply chains. That’s why we have chosen to work with these groups to help them earn more from their gold within a robust compliance system that offers social, environmental, and economic protections.”

The Fairtrade gold programme offers a small but scalable solution to sustainable sourcing of gold from the region in line with Section 1502 of the Dodd-Frank Act in the US, OECD Due Diligence Guidance and recent EU Supply-Chain Due Diligence proposals which could come into effect in 2016. This means that up to 880,000 EU firms that use tin, tungsten, tantalum and gold in manufacturing consumer products could be obliged to provide information on steps they have taken to identify and address risks in their supply chains for so-called ‘conflict minerals’.

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