WorldQuest FX is an Australian-registered forex broker. The trading instrument range includes Forex, Precious Metals, Commodities, and Index CFDs. MetaTrader 5 is supported, with leverage of up to 1:500 and trading in 61 currency pairs. WorldQuest FX has created a very flexible and competitive trading environment in terms of spreads and general conditions. Minimum deposit requirements at this platform and trading fees are relatively low to provide room for flexible trading options for various types of investors.
Company Background and Regulatory Information | Is it Reliable?
Website Registration Time
According to the WHOIS information, the domain name of the WorldQuest FX has been registered on April 22, 2019. The first update of its website as captured by the Wayback Machine, with at least a homepage existing, was on December 31, 2021. What this suggests is that, although registered much earlier, the actual published content of the website has been updated considerably later, possibly reflecting quite a long development and preparation process.
Company Background
There are several uncertainties regarding the corporate background of WorldQuest FX. While the footer of its official website and the publicly available registration information point to it being headquartered in Ukraine, an Info-clipper search does not show any filings describing the company as registered in Ukraine.
Surprisingly enough, WorldQuest FX does pop up in the registry of the Australian Financial Complaints Authority (AFCA). This huge contrast creates more and more questions about its corporate identity.
Investors should be very cautious and ensure they know everything about the company's background before making any decisions.
Regulatory Information
WorldQuest FX demonstrates a degree of regulatory compliance. According to the Australian Securities and Investments Commission (ASIC), the company is regulated by ASIC and holds an Australian Financial Services (AFS) license. Through ASIC's official website, investors can verify the official licensing information pertaining to WorldQuest FX. This indicates that although there may be some ambiguities in their registration and operational specifics, the company is authorized to operate legally in the Australian market.
Website Traffic
According to SEMrush, the website traffic for the WorldQuest FX domain is zero. Greatly surprising, since a forex broker that has been in operation for two years really does deserve better than zero website traffic, which is highly unusual, even for a small forex platform that should have built up some web traffic over time.
This abnormal data could indicate problems with promoting the brand of the platform or doing marketing, or maybe with poor visitor traffic attraction. Whatever the reason is, this kind of phenomenon deserves investors' attention. If it has been some time since the platform has been operational but sees virtually no traffic flowing in, it may potentially influence its long-term growth and market competitiveness. Investors trading on this type of platform have to make their own judgment on its operation and market acceptance.
Account Types
WorldQuest FX offers only one type of account, which encompasses forex, CFDs, commodities, precious metals, indices, and stocks.
The maximum leverage depends on the asset class: 1:500 for forex and indices, 1:100 for commodities, and 1:200 for precious metals.
The spread starts from 0 pips, while the minimum trade size is 0.01 lots, and the commission begins at $10 per lot.
Additionally, it supports competitive overnight rates and features a 100% margin call and a 50% stop-out level. These features enable investors to trace dynamics online and manage their risks efficiently.
Trading Platform
WorldQuest FX uses the MetaTrader 5 trading platform, though it supports Windows, iOS, and Android operating systems. However, according to the tests, current download links for these platforms do not work properly. For this very reason, this might affect the whole trading experience, especially in the case of investors who need to trade from anywhere and at any time.
Conclusion
Although it has an AFS license, the WorldQuest FX has many problems, such as a short time for running the website, not downloading the link of trading software, discrepancy in the footer, actual registration details zero traffic to the website. Elements that raise suspicions about credibility and the ability to function, investors must be extra careful regarding these elements and review the potential risk in full.
