If you are looking forward to starting your trading career, the first step you have to take is to sign up with the right broker. Is there a particular definition of the right broker? Of course, not! However, you can definitely tell after looking at a few features offered by the broker whether or not it will suit you. Any broker that suits your trading style and works in your best interest is a great broker. A broker that makes money off your trades but lets you earn profits very frugally is the “bad” broker you should not sign up with.
Inside this huge crowed of online brokers you have WorldStocks, a broker that provides you with ETF and CFD trading on its trading platform. As per the website of the broker, it does not claim to be the best nor it is the best, but it definitely works with a philosophy that makes it one of the best out there. So, if you are a new trader, you must be looking for a complete review that tells you each and everything about this broker. Well, you have come to the right place. This is the most complete review of WorldStocks broker that you will read on the internet. So, let’s start.
Reviewing WorldStocks Thoroughly
· An Intro to the Broker
As mentioned earlier, WorldStocks is all about providing you with a trading platform where you can trade many different types of assets. How can you trade many different types of assets from the same trading platform and the same trading account? Well, because you will be trading contracts. You can either trade ETFs or CFDs. Both these contracts allow you to trade the value of the underlying asset without making you own the asset. You don’t own the asset but you are still trading its value through ETFs and CFDs. CFD trading is one of the most fascinating ways of trading.
It allows you to make huge profits through leveraged trades. In addition to that, this type of trading lets you build your portfolio for just about any type of asset you want. If you are in the stock market, you can only trade stocks that are available there. If you want to trade forex currencies, you will have to come to the foreign exchange market. Similarly, if you are looking to trade cryptocurrencies, you will have to pay a visit to the cryptocurrency exchanges on the internet. However, when you trade CFDs with WorldStocks, you will be able to trade all of these assets and some more on the same trading platform.
The broker is properly registered. However, you have to keep in mind that there is no information on the website about the regulation of the broker. If the broker is not regulated, the second big thing you have to look at is how long it has been in business for. If the broker has been in business for many years, you can still trust it somehow. However, you are still recommended to sign up with only regulated broker. The positive side of WorldStocks story is that it is a registered company with the license number mentioned right on the website. So, you are not signing up with some random and anonymous company that no one knows about.
· Trading Platform You Will Admire
You are going to admire the trading platform that you will be using with this broker. If you have been in touch with the online trading world, you must have heard the name of MetaTrader 4 or MT4 as they call it. This is, without a doubt, the best trading software out there and has been this way for many years. Many other trading platforms have come and disappeared during this time but MT4 has not lost its shine. You will still see that all the best online brokers provide their trades with access to this particular trading platform. And this is the trading platform you will get access to when you sign up with WorldStocks.
Now, a trading platform, no matter how great it sounds, is not good for modern traders if they cannot use it on the go. In other words, your trading platform should travel with you on the device that you use the most. Of course, you can’t carry your personal computer with you everywhere you go. The only device that you can carry easily in your pocket is your smartphone, and WorldStocks has taken care of that. The broker has created the mobile-friendly version of the trading platform that you can use on your smartphone. You won’t even have to worry about any compatibility issues because there are none.
You can download the software on your Windows computer or your smartphone. When it comes to smartphones, you can have an iPhone or an Android phone to use with this trading platform.
What you are going to love the most about this trading platform is that it is available in the web-trader format as well. In the web-based format, the software is available on any device that you own without any compatibility issues. It runs like any other website on your phone, computer, laptop, or tablet. So, if you want a uniform experience without having to download the software, you can go with the web terminal of MT4 from this broker.
· Asset Classes That Are Diversified
Despite the fact that you can trade from the comfort of your home, you will not find every broker offering you a trading platform that you can use to trade any asset. You still have a lot of online brokers that give you access to the old and conventional assets only. Not to mention, they might not even offer you any other type of trading than traditional trading that people have been doing for many years. However, you will have to admit that WorldStocks has done a great job of putting together a very impressive asset index. You will find assets from half a dozen asset classes on its index.
In short, if you are a new trader, you have a lot of choice to pick your favorite assets from. On the other hand, if you are an experienced trader, you can diversify your portfolio without a problem with this broker.
You can trade commodities, which further have many different types of assets within them. For example, the commodities you get access to with World Stocks are not limited to soft commodities like livestock and crops. Instead, you will get access to metals and energies in this asset class. In addition to that, you have access to some of the biggest and well-known companies around the world through the stocks class. You can also trade forex currency pairs. There are a lot of currency pairs to trade with this broker, so you can always pick one that goes well with your trading strategy.
Last but not least, you can trade cryptocurrencies as well. That’s the type of trading most of the new traders are looking for from around the world. They want to make money trading cryptocurrencies and they can’t seem to find any reliable platforms to do so. To make matters worse, there are so many scams in the name of Bitcoin and other cryptocurrencies that half of the people who want to trade cryptocurrencies fall prey to these scams. However, you can trade cryptocurrencies safely when you open a trading account with WorldStocks.
· The Flexibility in Trading Conditions
It does not matter how great a broker sounds from its features, you must not sign up with it unless you have looked at the trading conditions it offers. Fortunately, there are many ways to know how much flexibility you will be offered in trading conditions when you sign up with an online broker. First, you have to look at the information about margin requirement and leverages. Margin is the amount of money that you have to maintain in your account when you enter a trade of a particular size. If you do not have that amount in your account besides the trade you are entering, you can’t enter the trade at all.
In addition to that, leverage is the contribution that comes from your broker to help you enter large trades. So, if you have only $1000 in your account, you might not be able to control trades that cost at least around $10,000. How do you control those trades? Well, you let the broker help you through leverages. The leverage you get from this broker is very realistic. It is not small by any means, but it is not crazy big like the ones offered by many online scam brokers. Yes, you will be shocked to know that leverage information is sometimes used for scamming people.
When you use leverage, you can control big trades. If you are successful with those trades, you make huge profits. This is what attracts new traders to sign up with brokers that offer a lot of leverage. What these new traders do not understand is that leverage can play against them as well. They can end up with a loss just like they can make a profit using leverage. And just like their profit doubles and amplifies because of leverage, the loss amplifies too.
So, you will notice that the leverages offered by this broker are pretty realistic. They are not as big as 1:1000 or 1:2000. Yes, you will be surprised to know that there are brokers that offer you such huge leverages. However, they are not attracting you to a trading career. They are only attracting you to make big trades, make them money, and if you can’t, you just stop trading because they have already made money from you.
The other important thing you have to look at other than leverage is the spreads. Spread tells you how much you can sell a particular asset for and how much you can buy it for from the broker. Yes, there will always be a difference in the buying and selling. That difference is where the broker makes money. If there were no difference in those prices, the broker would not make any money. However, the broker has to be responsible and keep its spreads tight so the trader can make some money. So, when you look at the spreads from a broker, you have to see how tight or loose they are. The tighter the spread, the better it is for the trader.
When it comes to World Stocks, you will notice that the broker has different types of spreads for different traders. The most expensive leverage for you will start from 3 pips. However, you can make your spreads as tight as 1.1 pips if you choose the right asset and the account with the broker. And that brings us to the types of accounts the broker offers you.
· The Accounts for Different Trader Types
When you look at the many different types of accounts offered by online brokers, you have to wonder why they have so many. Not all of them have a lot of account options for their traders, but the most responsible brokers do. Since WorldStocks is one of the best brokers on the internet, you can expect it to provide you with a lot of options when it comes to choosing the right trading account. You will be glad to know that the broker has created an account for just about any trader type. Whether it is your first time trading online or you have been trading for decades, you will find an account that matches your trading experience and style.
You will see that WorldStocks offers you five different types of accounts. Now, the first thing you have to notice about the trading account with a broker is the ease of signup. Is it easy for you to sign up with the broker? Does the broker do anything to make the signup process easy for new traders? Well, you will notice that this broker does a great job of accommodating new traders as well as the experienced ones. Out of the five account types, you can say that the first two are dedicated for new traders. You can open any of these accounts with ease without breaking the bank.
If you go with the most basic account, which the broker has named as Essentials, you will have deposit only $250 in your account, and you will be good to go. Yes, with such a small amount, you will be able to start trading in real financial markets. You can trade just about any asset you want and use the trading platform from the broker to get updates on the market as well.
The good thing is that the broker has paid attention to making each account type lucrative and useful for the traders to whom that account type suits. So, even if you are a new trader, it does not mean that you cannot benefit from a morning brief about the market. With even the most basic account type with this broker, you will be able to get a morning brief. If you go with the advanced account types, you have Premium Pro as the most expensive account for the most trained and professional traders in the world. In this account, you can enjoy spreads of just 1.1 pips. In addition to that, you will get all the trading signals that will help you make the right trading decisions.
Regardless of the type of account you choose, the broker will give you access to its entire asset index from the same trading platform i.e. MetaTrader 4.
· The Algo Trading Feature
One of the things that make this broker unique from a lot of the online brokers is the algo trading option. You will first have to wrap your head around this particular option to understand why it is so great. You do not get this particular option from a lot of online brokers. So, algo trading is all about bot trading. Yes, there is a bot that will be trading on your behalf. You can put the bot on trading and sleep well. While you are sleeping, the bot will be making money for you by trading on your behalf in the financial markets. It will spot the best opportunities to enter trades and make you profit without you even knowing.
The best thing is that these bots have evolved to become very sophisticated these days. So, if the bot realizes that the market conditions are changing and that you can end up with a loss, the bot will exit the trades as well. However, you have to understand the scope of this particular option before you can find any value in it. So, why do you need a bot to trade on your behalf?
Well, you can say that these trading bots have been designed for new traders who do not know much about trading in their initial months. Now, when you do not know much about trading, you can end up making a lot of losses. When you have too many losses in the beginning, you cannot move forward and your trading career ends before it even starts. Not to mention, keeping an eye on the charts, the many different types of assets, and a lot of financial markets is not easy for someone who is trading for the first time. However, algo trading makes that easy for you. It trades on your behalf even if you do not understand trading fully.
So, you sign up with the broker, you open your trading account, you fund your account with the amount of money that’s required as a minimum for your account, and put your trading platform on autopilot or algotrading mode. Once you have switched on this mode, you can sit back and relax, and watch profits pouring into your account. Now, you have to keep your expectations very realistic here. You cannot expect to make millions of dollars through this type of trading in just a few weeks. Yes, the bot can make decisions based on much more precise data that you will use, but it cannot predict the market with 100% accuracy.
For that reason, you have to expect your profits to come in your account at a realistic pace. The most important thing that you have to know here is that there are many online scammers that are scamming new traders in the name of bot trading. There is nothing wrong with bot or algo trading, since these technologies are not new anymore. However, what’s dangerous is the claims that these scammers make when they try to lure you into signing up on their bogus trading platforms.
They tell you that their software do not make mistakes and can make you profits like no other software out there. As a result, they promise that you will be a millionaire in no time. These are only lies and you should not trust them.
· Good Customer Service
You will notice that we have not used many praising words for the customer support provided by World Stocks.com. You can say that we expected more from this broker. In fact, if you are a new trader, you would expect even more from the broker in terms of customer support. You would want some live chat feature on the website, a detailed FAQs page, and a call back feature. However, none of those features are there on the website. You just have a couple of phone numbers and email addresses that you can use to get in touch with the broker when you have a problem.
It is worth mentioning here that the broker can become one of the top brokers in the world in no time. You have to admire the features provided by this broker. Its trading platform is great, the account types have been designed with intelligence, and the algotrading feature is out of this world.