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• Our Review Method

• Is Worldwide CapitalFX Scam or Legit Broker?

• What is WorldWide CapitalFX?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Worldwide CapitalFX due to the issues we've identified.

Is Worldwide CapitalFX Scam or Legit Broker? ▲

Engaging in trading activities with Worldwide CapitalFX is not advised for safety reasons. The ownership of Worldwide CapitalFX is traced back to Algobit Ltd., a Seychelles-based offshore entity. The reputation of Seychelles as a jurisdiction is marred by lax regulations and minimal requirements, making it a haven for unreliable forex brokers, including infamous names such as Hugo's Way and AG Capitals.

• Registered in: Seychelles

• Type of License: No License

• Is Worldwide CapitalFX safe to trade: No

• Recommended Licenses: FCA in the UK & ASIC in Australia

Due to its offshore registration and lack of a proper licensing, Worldwide CapitalFX emerges as a risky choice for traders seeking secure and reliable trading environments. The absence of stringent regulations typically associated with reputable regulatory bodies like the FCA in the UK and ASIC in Australia raises serious concerns about the safety of funds and the integrity of trading operations.

What is Worldwide CapitalFX? ▲

WorldWide CapitalFX (CapitalFX) positions itself as a provider of trading platforms for binary options, cryptocurrencies, Forex, and Contracts for Difference. Despite claiming a presence in the USA and possessing an IBC registration number, the firm lacks the necessary authorization to offer financial services within the USA or elsewhere.

Several regulatory bodies have issued warnings against Worldwide CapitalFX, highlighting the potential risks associated with engaging with this broker:

• Cyprus Securities and Exchange Commission (CySEC), on February 11, 2019, informed investors that worldwidecapitalfx.com is not associated with any entity granted authorization to provide investment services.

• British Columbia Securities Commission (BCSC) issued a warning after discovering that CapitalFX solicited a resident in British Columbia, despite not being registered to trade or advise in securities or exchange contracts within the region.

Such warnings from respected regulatory authorities underscore the dubious nature of Worldwide CapitalFX's operations and further justify the recommendation to steer clear of this broker.

Conclusion ▲

It is strongly recommended that investors and traders exercise caution and avoid Worldwide CapitalFX, as well as other Seychelles-based brokers. The lack of a secure and reliable trading environment offered by offshore brokers poses significant risks. Instead, traders should opt for brokers regulated by reputable authorities such as the FCA in the UK or ASIC in Australia, which guarantee a higher degree of safety and reliability. Engaging with well-regulated brokers not only ensures the protection of funds but also provides a more trustworthy and transparent trading experience.

Worldwide CapitalFX Update

Our extensive research has uncovered that the Worldwide CapitalFX's website is no longer active, indicating a halt in its trading services. Despite this, the recommendation to avoid any potential offers or engagements with Worldwide CapitalFX remains in place, as the fundamental concerns regarding safety, reliability, and regulation persist.