MarketsWorld - An honest binary option broker review
Binary options is a financial instrument that lets you take part in speculative trading using a very user friendly interface and it limits your loss per trade to a predefined level. It is a special kind of trading instrument that may suit forex traders who do not have a good money management strategy; traders who often loss a large portion of their funds in a single trade and they usually don’t use stop-loss feature. For them, binary option provides an easy way to limit losses.
Binary option is a good instrument that some traders will love to use, but it has an extremely bad online reputation! Are you wondering what the reason is behind this bad rep? Well, the reason is that most binary option brokers are scammers. There are only a handful of legitimate binary option brokers and MarketsWorld is one of them.
Majority of binary option brokers claim that they are a registered company and have a license from CYSEC [Cyprus Securities and Exchange Commission.] Most of them are simply lying; they are unregistered and do not have any license. Moreover, even if they have a license issued by CYSEC, it does not mean they are legitimate.
When you are searching for an honest/legitimate binary options broker, you should look for a company that is registered in UK, USA, or any other country that has high regulatory standards. MarketsWorld is operating from Isle of Man and it is regulated by Isle of Man Gambling Supervision Commission.
MarketsWorld is one of few binary options broker who always pay you your profits, no questions asked! Unlike other brokers who block your account and don’t pay you any profits, MarketsWorld always pay. A company operating from Isle of Man can’t scam people. All businesses their go through vigorous inspections; the regulation body, GSC, makes sure that all businesses, that it regulates, are operating within the legal boundaries and that they aren’t scamming anyone in anyway.
If you are looking for a broker that always pay the profits, then MarketsWorld is the company you are looking for. You probably have heard of ForexPeaceArmy [FPA.] It is a website where you can find Forex/Binary-Option brokers reviews; this website also contains information about scam brokers.
Currently, MarketsWorld’s rating at FPA is ~2.5/5. MarketsWorld used to have much higher ratings and positive reviews at FPA, but it lately have received several negative reviews. Now, this doesn’t mean MarketsWorld is a scam or anything like that. You should always check the reviews and other details to find out the real truth.
ForexPeaceArmy has a system that allows users to initiate a case against a broker that they believe have scammed them. After opening a case, the user submits evidence and a person representing the broker responds to the complaint.
MarketsWorld has no cases against it at FPA. Why did the users, who left negative reviews, not open a case against MarketsWorld? Probably because they either left a fake review or they lost money and want to put the blame on the broker. Some users leave negative reviews for no good reason. For instance, I have seen many negative reviews left by users whose complaint was that the broker is not accepting their documents for verification. Instead of providing valid and up-to-date documents, they get upset and leave a negative review for the broker.
MarketsWorld is also one of few binary option brokers who allow users to open and freely use a Demo account without depositing any money!
I am going to stop praising MarketsWorld, and begin talking about what isn’t good about this binary options broker.
Some of the negative reviews posted at FPA have mentioned price manipulation. It’s a serious allegation, but is there any truth to it? I am going to explain what I know; you can then decide for yourself if MarketsWorld is doing anything illegal or wrong.
A currency pair’s price can make sudden or sharp movement; I am not talking about big moves on news releases. Each day, a currency pair can have many sudden sharp moves. I am using different MT4 platforms to monitor several currencies and I also have MarketsWorld open in one of my monitors. I have noticed that when a currency pair moves [in MT4 platform] sharply in any direction, the price in MarketsWorld charts [often] do not immediately show this move. MarketsWorld seems to have installed some kind of filter that prevents the prices from making sharp moves, immediately. Often, a sharp move retraces after a very short time period; in such case, you will see a stable chart in MarketsWorld and it won’t show you the sharp move, but if the price move is stable or extended further, then MarketsWorld charts start to show the move.
Basically, MarketsWorld seems to have a filter installed in their system that tries to filter-out sharp price moves that quickly retracts to the previous level; some kind of noise filter.
This filter can work in your favor or against you. For instance, if you have opened a short position in EUR/USD at 1.12900 and it is going to expire in few seconds, and current price is 1.12850. Now, assume that price of EUR/USD jumps above 1.12900 in the Forex market, but it remains stable at 1.12850 at MarketsWorld. In this scenario, MarketsWorld’s filter works in your favor. However, if your position was CALL/LONG instead of PUT/SHORT, then you would lose the trade even though the price in the Forex market went above 1.12900.
MarketsWorld currently has only few currency pairs available for trading. They should add more pairs as well as stocks, indices, etc.
MarketsWorld does not have any good bonus offers.
MarketsWorld is using their own binary options trading platform; it isn’t good, tough! They would make it more user friendly.
MarketsWorld don’t have a lot of expiry options.
If you are looking for a binary options broker that you can trust, then MarketsWorld is what you are looking for. They will always pay you your profits. They are one of very few real paying binary brokers.
They don’t have the best platform; they can do a lot to make their website more appealing.
Certain strategies work fine with MarketsWorld. You can use their free demo account to test your binary trading strategy in their platform.