Worldwide CapitalFX Review (2023)

Is Worldwide CapitalFX a scam or legit broker?

No, it is not safe to trade with Worldwide CapitalFX. Worldwide CapitalFX is own by Algobit Ltd. which is an offshore company registered in Seychelles.
Seychelles 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 Hugo’s Way, AG Capitals and more.

WorldWide CapitalFX (CapitalFX) claims to be an online binary options (Check US Regulated Binary Options Brokers), cryptocurrencies, Forex and Contracts for Difference trading platform provider. The broker claims to be located in the USA and even provides the registration number with IBC. However, the company is not authorized to provide financial services in the USA or any other company.
Moreover, several regulators have warned the public against Worldwide CapitalFX:
CySEC, February 11, 2019:
“The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform investors that the worldwidecapitalfx.com, does not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities.”

Also, the is a warning from the British Columbia Securities Commission (BCSC):
“We recently became aware of CapitalFX and that it had solicited a British Columbia (BC) resident to trade with the company. CapitalFX is not registered to trade in, or advise on, securities or exchange contracts in BC.”

Conclusion

We advise all investors and traders to avoid Worldwide CapitalFX and other brokers from Seychelles. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and BDSwiss.

Worldwide CapitalFX website is no longer active.