Is WorldFXM Scam or Legit Broker?

No, Worldfxm is not safe to trade with it. WorldFXM is owned by CHO DEVELOPMENT LTD., which is an offshore company registered in the Marshall Islands.

  • The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as GoTechFx, Obsbit, and more.


About WorldFXM
🗺️ Registered inMarshall Islands
🗺️ Type of LicenseOffshore License
🛡️ Is WorldFXM safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is WorldFXM?

According to the website, WorldFXM offers its clients a variety of products, including 65 of the most popular FX pairs, 33 contracts for difference (CFD), products, across equity indices, energies, alternative asset futures, and other instruments to help deliver more trading opportunities. However, the broker’s regulation is quite questionable. We couldn’t find any information about its regulation as well as location.

  • The contact number provided on the website is from the UK, which means the broker has been targeting UK residents without being authorized in the country.
  • Moreover, the company has been blacklisted in several countries. The UK’s Financial Conduct Authority has recently issued a warning against the broker, stating that:

“World FXM/WorldFXM (the trading name of CHO Development Limited) is not authorized by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorization.”

  • There is also a warning from the Austrian Financial Markets Authority issued in August 2018:

“WorldFXM with its registered address apparently at p.A. CHO DEVELOPMENT LTD, Marshall Islands is not entitled to carry out banking transactions in Austria that require a license. The provider is therefore not permitted to trade in financial futures contracts (futures) on its own account or on the account of others, including equivalent instruments settled in cash as well as call and put options on the instruments.”

worldFXM review


WorldFXM Review Conclusion

We advise all investors and traders to avoid WorldFXM and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and BlackBull Markets.

WorldFXM Update

We found that the WorldFXM  website is inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert in case any proposals show up.

No news available.

2 responses to “WorldFXM”

  1. One of the biggest scam company I have dealt with, my account was doing really good without any help from the, one morning I went into the platform and found my self in debt with 100,000 euro, they went into my account & opened one trade for DAX ( 100 lots) it took them only 23 seconds to bring the account from 21000 euro in credit to -100,000 in debit. obviously they denies it, they’re punch of cowboys, doing illegitimate trade, DO NOT COME NEAR THEM

Leave a Reply

Your email address will not be published.

* code