World Markets review – the FMA thinks it is a scam [ALERT]

World Markets review

This review explains why you should stay away from the World Markets investment service. A financial regulator says it has the hallmarks of a scam.

What is World Markets

World Markets started as broker for precious metals, but now its main feature is an investment program with managed accounts. Artificial intelligence is managing trading accounts and its performance in the past years has allegedly been the following: 481% returns in 2017, 647% in 2018 and 718% in 2019.

The World Markets trading robot supposedly average 21.77% returns on investment per month.

Clients are charged a 20% performance fee on profits and a 1% annual management fee. The minimum investment is 5000 euros.

World Markets supposedly won several awards that are proving that its AI managed account is really performing well.

World Markets claims to have offices in Norway, China, Switzerland and Iceland.

AI managed account features

Is World Markets legit?

No, World Markets is not legit. It is a fact that has been confirmed by the Financial Markets Authority of New Zealand (FMA). The FMA said that World Markets has “the hallmarks of a scam”.

The regulator also noticed that World Markets is not authorized to provide financial services in New Zealand.

The truth is that World Markets is not registered nor licensed to provide investment services anywhere in the world. It has no authorization whatsoever, which means that it is an illegal investment service in most countries in the world.

Unproven performance

World Markets is displaying a lot of numbers that are supposed to prove its past performance. An average monthly return on investment of more than 21% is certainly very appealing, however it might not be true.

The chart on World Markets’ website contains links to external service that monitor trading systems’ performance. However, a lot of World Markets’ charts from MyFXbook are missing, they have been deleted, which is extremely suspicious. The conclusion can be that they did not perform as advertised and World Markets don’t want you to see that.

Other pages with their charts and stats have systems that run only for a limited period of time, then stopped. And there is do recent data, let alone audited results.

All in all, instead of proving the past performance of its AI Managed Account, World Markets has raised a big red flag with the way it is presenting is trading results. We certainly cannot talk about any numbers being proven.

Performance

Dubious awards

Another thing that World Markets is proudly displaying on its website is the numerous awards it allegedly has won. The problem is that some awards can’t be verified, because there are no valid links and the texts are unreadable.

As for the rest of the awards, we did not find a single one from a reputable source. We did not find a single award that would suggest that World Markets is a reputable company.

Fake awards

In the media?

Another problem of World Markets is that it claims that it was featured in Bloomberg, Forbes, Sky News and Investing.com. Because a research on those websites brings no results about World Markets.

In those media, we did not find a single independent article endorsing or otherwise speaking about World Markets.

The same applies to different blockchain and other associations. In fact, we know for sure that World Markets is not a member of the Enterprise Ethereum Alliance nor any other alliance of this kind. The usage of logos that belongs to these alliances on the World Markets website is therefore very dubious. We are not afraid to say that this is a practice common to scams.

Fake media

Anonymous and unregulated

Last but not least, addresses provided by World Markets are obviously fake. For example, there certainly are no World Markets offices in Switzerland.

Which is a very serious thing, because should World Markets really be represented in Switzerland, it would have to be registered there as a company and licensed with the financial regulator FINMA. But it is not.

So, if World Markets is offering its services in Switzerland, it is breaking Swiss laws. The same applies to almost every other country, because most countries int the world regulate financial and investment services.

Stay away from World Markets

If you have already invested money with World Markets, we recommend getting it back and staying away from it.

As the Financial Markets Authority said, World Markets have the hallmarks of a scam. It seems it might be operating a Ponzi scheme, which would mean that is not doing any real financial trading.

It obviously is very risky to invest money with World Markets, because it is an unregulated service, which means that deposits are not protected in any way.

Since World Markets is lying about several things, it probably is a scam, which means that it can collapse any time.

World Markets review – the conclusion

World Markets is an unauthorized investment service and the Financial Markets Authority has warned the public against it. World Markets alleged investment performance cannot be verified and the lies on its website are a big red flag. Stay away from it.

For financial trading and investing you should always use regulated companies that have a valid license for your country. You can try a free demo account to see how legit trading works.

Always remember that investments are risky. For real trading use only money that you can afford to lose.

World Markets

5000 EUR
1

Performance

2.0/10

Regulation

0.0/10

Awards

1.0/10

Pros

  • Exposed by regulator

Cons

  • Illegal service
  • Lying
  • Probable scam
Please share this review to help warn other people

Comments 38

  • Dear TBBOB
    We have read your report above dated July 20. Are u able to give us a latest report on WorldMarkets.com? We ask because we have money with WM and have requested a withdrawal and had no reply except seemingly bogus comments that their “systems” are not working and hence withdrawals are affected.

    We hope that you are able to advise us of the latest situation

    Thank you
    Andrew & Elizabeth

    • I’m sorry but I have no news about World Markets.

    • WM is a total SCAM

    • same here. but the person who introduced me to this scam, was liable to get my money out by doing internal transfer. now im 100% sure its a scam.beware everyone

    • I can confirm that World Markets is not legit. I deposited money and they showed the profits clicking over. I even withdrew small amounts (in BTC) on 2 occasions without any issues, but now they are sending an email that says;

      “We regret to inform you that we are unable to retrieve any additional funds from your SwiftXChange account.
      We are therefore unable to assist with future inquiries involving the status of any account redemptions.

      Kindly address future requests to [email protected]

      We greatly apologize for the unfortunate reality of this issue.”

      Of course, there is no reply from the email address they direct you to. I have resigned myself to losing the remaining funds and suggest that World Markets is almost certainly a ponzi scheme.

  • Hi
    I am a World Markets investor with an substantial amount of investment.
    They are currently not answering emails, nor phone calls. Any withdrawal requests are answered that they will be processed once the new Swiftxchange system is in place, although after 2 months there is no change.
    85 percent likelyhood that this is a scam.

    Most of their merits on their website are fake, although some partners such as HYCM are real. Wonder what they think once their reputation is tarnished for partnering with crooks??

  • WorldMarkets is 99.999% likely to be a scam. You can never say it “IS” a scam unless you have access to the internal systems that show where the money goes. However, there are plenty of red flags with this “company”. DO NOT TOUCH IT.

  • I too have invested in Worldmarkets and it’s looking more and more like a scam. I have gotten the same emails saying its a 3rd party problem. And another email basically saying its a problem with a long que. Swiftxchange website just keeps saying coming soon.
    So many fake reviews out there claiming they have +100k invested and us little people should shut up. If this goes down like its looking I will be looking for their future scams and warning people. They will not take my money so easily.

  • I have invested in June because literally everybody was endorsing them in youtube, saying that it was super legit and that they withdrew and received all their profits several times.
    I then invested and I was impressed by the speed at which my funds arrived in the system (compared to traditional platforms).

    However, once I tried the system, I could not verify any single trade that they were claiming they were doing with my funds. I was expecting a more transparent interface where once each trade was closed, I could independently check the trade details, such as entering price, exiting price and amount of the trade. To possibly learn from this and improve my trading skills. None of them was there, just the commodity (gold, silver, eur-usd, etc), a “quantity” field that had no sense to me, a direction (long or short) and the declared profit. I wrote them an email, asking for these details, and they replied with random excuses to say that they can’t disclose it (?). Given that email and since I could not verify those trades, I started to suspect that those declared profits on my account were just fake numbers. I then carefully checked the history trades on their website and every trade was actually linked to a random result, without any consistency. I looked into those awards from the website and found nothing online. I looked at the Bloomberg article and found nothing. Lastly, I contacted them again asking if they could share the Bloomberg article and they reply that there was no article: they just made some advertising of their services in the Bloomberg website (most likely they haven’t even done that). With that email, I was sure that I was getting scammed. At that point, it passed only one week since I funded the account, but I decided to stop and close everything. I have withdrew my funds and I was glad that I received my capital back within 48h from my request.

    I feel very sorry for anybody who did not manage to get his money back. I am quite sure that they are not going to refund anybody at this stage. That’s how they “make” money, stealing them from people hoping to make some returns. Whenever there are huge returns offered, better do an independent research. My big mistake was to do a proper independent research too late, because I should have done it before investing.

    There is a general rule that when something seems too good to be true, it probably is.

    Another rule that I add is that there is basically no get-rich-quick scheme in this world. It simply doesn’t exist, unfortunately.

    • Dear Mark
      How did you manage to “stop and close” your account and get your money back after only being on their platform for a week? I just keep getting the response that I have to wait 75 days. Regards, Kathy

  • Thanks for all the warnings about World Markets. I was about to invest my 5000 Euros. After reading all the warnings, it sounds like a big SCAM and buyer be Ware. I asked them in an email as of Which do you operate from and what regulations do you follow, they did not reply me and that made me suspicious and reading all the warnings I am pretty sure it is a Ponzy scheme. I was involved in such a Ponzy scheme and they person who operated this Ponzy scheme is in jail now. FYI his name is Roy Figuereido. I am very grateful for everyone who wrote those warnings. I hope everyone who invested with World Markets, get their money out safe and sound.

  • I would be thankful for your help.Can anybody help me to get back my funds from world market that i invested a year ago as i am now concerned with all the bad reviews that i have read about them. Regards Tony.

  • Worldmarkets is a SCAM / exit SCAM
    These are the facts, if you think, as I did, that this scam was going to someday work out….get ready for the reality! I have $61,000.00 “invested”personally.
    I have 4 affiliates joined so farr for the so called “summer gold bar special” = total $26,000
    Withdrawal request made by myself on the 9th October 2020, phone calls almost everyday / emails sent but getting generic responses, now nothing not even taking calls or responding to emails.
    The same b*s response from a persons behind a phone who I don’t think have any idea of what this company is about, probably a shared call centre line with other scam companies, spewing the same b*s every time.
    I have now contacted the following institutions, with very limited response or reaction:
    – IFMRRC: to which I have made a compensation claim but still nothing, they are a supposed regulating organisation but I have not had any response yet after filling in a long list of information including wallet address’s etc.
    – In contact with the FCA in the U.K. who where willing to take the call and pass the info on.
    – A number of crypto recovery organisations, !!!!PLEASE DO YOUR RESEARCH ON THIS AS THERE ARE MANY SCAM COMPANIES TRYING TO TAKE YOUR MONEY!!!!
    -Contacted a couple of specialist legal /crypto recovery companies, after much research (I’m not going to name any because that’s just a indication of scams), still awaiting a response.
    – The names I have given out to the regulatory organisation’s such as the ACTION FRAUD LINE in the U.K and to the FCA is as follows:
    (I have my doubts that any of the following are real persons? look them up yourselves)
    *Samantha Lewis / Trading Desk +41435501724 / +4780025079
    *Nathan Roth/Personal Success Manager +41435501724
    *Matteo Keller / Payments team +41435501724
    *Penny Wright / Payments Team +41435501724
    * Heather LeMay / Trading Desk +4780025079
    *Gurjeet / Trading Desk +4780025079
    *Alice Marks / Trading Desk +4780025079
    *Patricia / Payments Team +4780025079
    *Nina Thompson / Payments Team +41435501724
    * Chris Patterson / Trading Desk +41435501724
    * Peter Noel / Payments Team +41435501724
    *Mia Nel / Call Center

    I am taking this further with legal action however I have a strong feeling this is too late….

    • Hi LL,

      Sorry to hear of your woes with Worldmarkets. It looks like I’ve been scammed by Worldmarkets too. I too am seeking a reputable legal / recovery agent. Could you perhaps share your lawyer / agent’s details with me? My mobile contact is +61 411955037. Either sms or Whatsapp would be great. Thanks RIck T.

      • Hi Richard,
        I’ve found a couple of legal companies that specialise in crypto recovery, I did a lot of research on them and they have been backed up by real articles written by real people…as it should…I’ve sent them through all the info I have but now waiting for a reply from one of them, they are in the UK and the one is especially well known for their cyber /crypto recovery profile.
        I made a claim with the IFMRRC and have sent a few emails to get some feedback or even if they have received the online claim but I’m not having any luck.
        Tried phoning WM earlier but now not even getting WM anymore just some random persons which don’t know WM??
        I feel like a real idiot being scammed, I thought I’m clever enough to not get scammed!!

  • A family member invested in this scam but found out about the scheme earlier, got no access to withdraw and got really hurt, it was before the 75days withdrawal limit. He was scammed off over 52k which he was finally able to recoup within 2 weeks after filing a claim with some private investigators on a platform called *****, a simple search on google would find them. Worldmarkets agents are very cunning, stay away from this platform.

    • Hi Reid, it looks like I’ve been scammed by Worldmarkets too. Could you perhaps share the recovery agents details with me? My mobile contact is +61 411955037. Either sms or Whatsapp would be great. Thanks RIck T.

    • Hi Reid
      I’ve also been scammed by WM. I would appreciate it if you could pass on the name of the investigator that successfully retrieved your relative’s funds. Its not clear from looking on google which agents are reputable. My whatsapp number is +85291990858. Thanks Howard W.

    • Hi,
      If you or anyone else has managed to recoup money from World Markets (website still running and telephone answered occasionaly with BS response) please can you recommend with the name, and website of the people who can do it.
      I have seen a few on the internet but none of which look bonafide. I don’t want to be scammed twice.
      Any help will be appreciated.
      Mike

  • How can i retrive my funds from world markets can anyone tell me as they are ignoreing e mails and it is now 2 months since i looked to get mt funds back from them.Regards Tony

  • Fellow investors,

    Its a great shame if this is a scam. I have enjoyed checking the trading bots random by and sell. I too have checked most trades carefully ( I think ), and many were certainly very accurate. So why set up this whole operation if it is just to scam people of relatively small amoounts of money? It would be more profitable to actually execute most of the trades posted. Anyhow, the majority of people here and other places are probably right about this platform – unfortunately. The last 2 weeks have given me significant reasons for concern.

  • I made wire transferr December 2019 and January 2020 to world market and i have been looking to get my funds back 29.09.2020. That is the date i put in withdrawal request.Can anyone tell me did they get there funds back since the middle of September 2020

  • Hi,
    I posted on Nov 23rd 2020 and still nothing from WM, not even an email response.
    My affiliates are now asking questions and I’m unfortunately just passing on the info they are feeding all of us about third party exchange, liquidity issues etc etc and it’s direct family so its going to be a tough one to break the very bad news, my wife who is an affiliate is well aware and has been doing some research on recovery companies etc.

    I have in the meantime come across one legit crypto recovery firm and have sent my case to a law firm in the Uk who specialises in crypto fraud cases. Unfortunately everything is very slow, I have not heard back from the legal firm yet since Dec 2020 but have now got things going with the crypto recovery firm.

    PLEASE DO YOUR RESEARCH ON ANY CRYPTO RECLAIM TYPE COMPANY!! There are many who actually have the same ‘method’ of recovering crypto and say that they have dealt with WM and have a 100% success rate…they wanted 4,500 Pounds Sterling up front! They also wanted all the log-in details and passwords…I’ve been scammed once but not a second time.

    There are a couple companies who I’ve contacted that the email content and method is exactly the same as in word for word like copy and paste unless its one scam company with many different names scamming people who have been scammed…sick!!!
    I’m hoping something comes out of one of them, anything will do as things are not great I’m a business owner and COVID has really dried up all my funds and savings, not looking good.

    I’m going to reiterate PLEASE DO BE CAREFUL WITH RECOVERY TYPE COMPANIES.

  • From Canada,
    Same story here. Tried to get money out twice in December and said that swiftxchange had liquidity problems… Than in January, they only made 3 trades, and didn’t charge me any fees, which was a red flag… then I realized they didn’t charge me any fees in December either… so I tried to withdraw money last week, no answer. I emailed them to check what was happening, no answer. My account is not trading any more. Like they are gone gone gone.
    I feel so stupid. It was all I ever saved in there!!!

  • Two Deposits in mid 2020 towards the World Markets A.I. Managed PAMM – Standard account,
    Both Bank Wire Transfers, not to the World Markets self trading accounts at HYCM.
    Both deposits acknowledged on the trading account statement,
    Received an E-mail from World Markets Sept./Oct? stating other similarly managed accounts require balances of 50K Bpounds sterling to maintain account stability.
    The trading activity was regular and the account balance was increasing.
    The managers at World Markets AI system appeared to be making good moneymaking trades.
    However, the Dec. statement shows no performance fees deductions, (their 20% take of the monthly profits), Jan traded very few trades, having difficulties with the withdrawals and not receiving the required withdrawal form to complete.

  • I strongly warn to invest into worldmarkts.com. I have invested a substantial amount into worldmarkets. After my account showed some profits I received in a first step refunds from worldmarkets. I then invested a bigger amount (more than 10.000 Eur). Since I requested my money back 2 month ago, worldmarkets does not react anymore. Pay attention, world markets requests to send money to an account, which does not name world markets itself! The IP adress of Worldmarkets can not be followed to a real person. Worldmarkets names an award at globalbrandsmagazine.com. After a my contact with the Management of Globalmarkets Magazine ([email protected]), they abandoned worldmarkets from the globalmarketsmagazine awards. Warning: Worldmarkets is a scam!!

  • RECEIVED TODAY
    From: World Markets
    Sent: April 27, 2021
    Subject: Auto: WITHDRAWAL REQUEST – WORLD MARKETS A.I. MANAGED PAMM STANDARD ACCOUNT- SwiftXChange:

    Important Notice:
    Effective immediately,
    please note that World Markets AI Managed Account service has been discontinued

    permanently due to SwiftXChange’s insolvency.
    Accounts at other 3rd party broker providers may be withdrawn immediately.
    No future trading will occur.
    We apologize for this inconvenience.

  • Funded an AI managed account with World Markets mid 2020
    I submitted a withdrawal request through the World Markets withdrawal page, At the beginning of year 2021.
    The withdrawal request was acknowledged by World Markets by way of a brief E-mail and they mentioned that World Markets was having difficulties with their payment Processor SwiftXchange.

    Repeated requests for a withdrawal there after numerous times,
    Were somewhat acknowledged.

    World Markets instructed that I should contact their payment processor Swiftxchange directly by E-mail.

    No contact telephone number or web address was provided.
    I found that a web address exists however the web page loaded to a blank page.
    As instructed, I E-mailed SwiftXchange twice,
    I have not received any reply from SwiftXhange.

    The account has had little to no trading activity for the first half of year 2021
    Incorrect and unacceptable trade management of the account.

    Furthermore, World Markets is not assisting to process withdrawal requests.
    Disappointed with their corporate ethics of consumers affairs and a lack of any meaningful explanation with substance of what efforts they are making to resolve their failed withdrawal process for the clients who entrusted investment money with them.

    Merely getting acknowledged and ignored,
    More recently now World Markets are trying to isolate and distance themselves from the withdrawal request process by putting the onus on making it my responsibility to contact their payment processor directly and to not trouble them with any further withdrawal requests.

    World Markets knows how to accept money.
    And how to make it appear like they are doing what they are being paid to do,
    Disappointingly they have no interest in and don’t want to return their clients money.
    Sweet talk and vague replies, no problem resolutions,
    Withdrawal still not received.
    Sadly unacceptable business behavior.

  • I was scammed too. Do we have any names? After covid I will go and visit them … they will pay … one way or another

  • World Markets is a scam and i lost a lot with them and they keep ignoreing my e mails, Have anyone any advice on how i can retrive my funds from them.Regards Tony.

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