Overview of Money Partners

Money Partners, headquartered in Japan, operates as a regulated forex and CFD broker under the Financial Services Agency (FSA). The company offers a selection of account types, including Standard, Raw ECN, MT4 ECN, and Islamic, each with specific minimum deposits and leverages. Traders can access a range of tradable assets encompassing forex, stocks, indices, commodities, and cryptocurrencies. Money Partners provides access to multiple trading platforms, including MetaTrader 4, MetaTrader 5, and its proprietary platform. They offer various deposit and withdrawal methods and extend customer support through various channels, including inquiries, chat, email, and phone. However, the company appears to exclusively conduct business in Japanese as per their website.

Regulation

The authorized status employed by Money Partners involves regulation by the Financial Services Agency (FSA) of Japan. Their license number 2028 signifies compliance with Japanese financial regulations pertaining to forex and CFD brokerage services. This regulatory authority oversees the financial activities of the company within Japan and enforces adherence to established financial laws and guidelines.

The FSA-regulated license status signifies that Money Partners operates under the supervision of the Japanese government's financial regulatory body. This type of regulation aims to maintain the financial stability and transparency of financial service providers, ensuring their compliance with legal and operational standards. Advantages associated with this regulation include increased oversight, which can contribute to investor confidence and the prevention of financial misconduct. It also aligns the brokerage with national financial regulations, providing a level of assurance to traders operating within the Japanese market.

Pros and Cons

Pros:

Regulated Brokerage: Money Partners operates as a regulated forex and CFD broker under the Financial Services Agency (FSA) of Japan, ensuring compliance with local financial regulations and enhancing trader confidence.

Multiple Account Types: The company offers various account types, including Standard, Raw ECN, MT4 ECN, and Islamic, accommodating different trading preferences and minimum deposit requirements.

Range of Tradable Assets: Money Partners provides access to a range of tradable assets, including forex, stocks, indices, commodities, and cryptocurrencies, allowing traders to diversify their portfolios.

Accessible Trading Platforms: Traders can choose from multiple trading platforms, including MetaTrader 4, MetaTrader 5, and Money Partners' proprietary platform, offering flexibility and choice.

Customer Support Options: The brokerage offers various customer support channels, such as inquiries, chat, email, and phone, ensuring accessibility for clients seeking assistance.

Cons:

Japanese-Language Only: Money Partners appears to exclusively conduct business in Japanese, potentially limiting accessibility for non-Japanese-speaking traders.

Limited Leverage for Cryptocurrencies: While the broker offers leverage for other assets, the maximum leverage for cryptocurrencies is relatively low at 1:2, potentially restricting trading opportunities for cryptocurrency enthusiasts.

Withdrawal Fees: Certain withdrawal methods incur fees, such as the ¥550 fee for withdrawing funds to a Japanese bank account via bank transfer, which could affect the cost-effectiveness of transactions.

Inactivity Fee: Money Partners imposes a ¥1,000 inactivity fee per month for accounts with no trading activity for six months or more, which may discourage occasional or inactive traders.

Monolinguistic Website/Services

Money Partners' website operates exclusively in the Japanese language, limiting access and usability for individuals who do not comprehend Japanese. The absence of multilingual support or translation options could pose a considerable barrier to international users seeking to navigate the platform effectively. This language restriction may hinder the accessibility of vital information and services, potentially deterring non-Japanese-speaking traders from utilizing Money Partners' offerings.

Market Instruments

Money Partners offers forex, stocks, indices, commodities, and cryptocurrencies for trading. Details are as follows:

Forex: Money Partners provides access to the forex market, allowing traders to engage in currency trading. This involves buying one currency while simultaneously selling another. Examples of forex products offered include major and minor currency pairs such as EUR/USD, USD/JPY, and GBP/USD.

Stocks: The brokerage offers trading in stocks, which are ownership shares of publicly-traded companies. Traders can invest in individual stocks, potentially benefiting from price fluctuations.

Indices: Money Partners enables trading on indices, which are a collection of stocks representing a particular market or sector. Traders can speculate on the performance of these indices, such as the Nikkei 225, S&P 500, or the DAX 30.

Commodities: Commodities trading allows users to speculate on the prices of raw materials like oil, gold, and agricultural products. Money Partners may offer access to various commodities.

Cryptocurrencies: Money Partners caters to cryptocurrency enthusiasts by facilitating trading in digital currencies like Bitcoin. However, the maximum leverage for cryptocurrencies is limited to 1:2, potentially affecting trading opportunities.

Here is a table comparing Money Partners to other brokers in this regard:

Account Types

Money Partners offers four account types: Standard, Raw ECN, MT4 ECN, and Islamic. Specifics are as follows:

Standard Account: The Standard Account offered by Money Partners is tailored to beginner traders with a minimum deposit requirement of ¥10,000. This account type features spreads of 1.5 pips or higher, offering favorable conditions for trading various assets.

Raw ECN Account: Money Partners' Raw ECN Account is designed for experienced traders seeking tight spreads. It necessitates a higher minimum deposit of ¥100,000 and offers spreads starting from 0 pips.

MT4 ECN Account: The MT4 ECN Account is aimed at traders who prefer the MetaTrader 4 platform and tight spreads. It requires a minimum deposit of ¥10,000 and offers spreads starting from 0 pips.

Islamic Account: Money Partners offers an Islamic Account designed for Muslim traders, providing a swap-free option. This account type shares a minimum deposit requirement of ¥10,000 and features spreads of 1.5 pips or higher.

How to open an account？

1. The first step would be to navigate to the red “Open Checking Account” button, which is located at the top right side of the screen.

2. After inputting personal information and contact information, there will be a verification of the phone number or email.

3. Last, in order to complete the accout creation process, the user is required to possess a Japanese ID, meaning that the services of Money Partners are not available to international customers.

4. Once Money Partners verifies the information, the account creation is completed.

Minimum Deposit

Money Partners offers varying minimum deposit rates across its account types to cater to different trading preferences. The Standard and MT4 ECN accounts have a minimum deposit requirement of ¥10,000, while the Raw ECN account demands a higher deposit of ¥100,000. The Islamic account also requires a ¥10,000 minimum deposit. These distinct deposit rates allow traders to choose an account type that aligns with their trading goals and financial capacity, promoting flexibility within the brokerage's offerings.

Leverage

Money Partners provides varying leverage options for different market instruments. The company offers a maximum leverage of up to 1:400 for forex trading, 1:20 for stocks, 1:100 for indices and commodities, and 1:2 for cryptocurrencies. This range of leverage ratios caters to traders with varying risk appetites and preferences, allowing for different levels of leverage depending on the asset class being traded.

The following table compares Money Partners to competing brokerages in terms of maximum leverage:

Spread

Money Partners provides spreads for its trading services that are determined by factors such as the currency pair and prevailing market conditions. In the case of the Raw ECN and MT4 ECN accounts, spreads commence at 0 pips, which can be appealing to traders looking for narrower spreads. Conversely, the Standard account offers spreads starting at 1.5 pips or higher, providing an option with wider spreads.

Deposit & Withdrawal

Money Partners offers a selection of deposit and withdrawal methods to facilitate transactions for its clients. These methods include bank transfers, credit/debit card payments, PayPal, Bitcoin, and various other e-wallet options. While the brokerage does not charge deposit fees, it is important to note that withdrawal fees may apply for certain methods, such as a ¥550 fee for withdrawing funds to a Japanese bank account via bank transfer. The availability of multiple payment options provides flexibility for clients to choose the most convenient method for their financial transactions, depending on their preferences and location.

Trading Platforms

Money Partners provides traders with access to multiple trading platforms, offering flexibility and choice. These platforms include MetaTrader 4, MetaTrader 5, and Money Partners' proprietary platform. MetaTrader 4 and MetaTrader 5 are widely recognized in the industry and favored for their comprehensive trading features and technical analysis tools. Money Partners' proprietary platform likely offers a unique trading experience.

The following table compares the trading platforms offered by Money Partners to those of other competing brokerages:

Customer Support

Money Partners offers multiple customer support options, including phone support, an inquiry form, and a chat feature, allowing clients to choose the most suitable channel for their inquiries and assistance needs.

Phone Support: Money Partners offers phone support through the number 0120-860-894, available during limited hours from Monday to Friday, 9:00 AM to 6:30 PM. This channel allows clients to make direct inquiries and receive assistance over the phone.

Inquiry Form: Clients can utilize an inquiry form on Money Partners' website to submit their queries or requests. This method provides a written channel for communication and is accessible for clients seeking assistance.

Chat Feature: Money Partners provides a chat service for clients to engage in real-time conversations with support representatives. This live chat feature is available during specified hours and offers a convenient way to receive immediate assistance.

Conclusion

Money Partners emerges as a regulated forex and CFD brokerage with a clear focus on providing financial services to a Japanese clientele. Founded over a decade ago, the company boasts a track record of compliance with the Financial Services Agency (FSA) of Japan, underscoring its commitment to adhering to stringent regulatory standards. Offering a range of trading platforms, including MetaTrader 4 and 5, as well as their proprietary platform, Money Partners caters to traders seeking various tools for their financial endeavors. Additionally, the broker extends multiple customer support options, enabling clients to access assistance through phone inquiries, inquiry forms, and live chat services during specified hours.

While their trading account options cater to a variety of trading preferences, the lack of website accessibility in languages other than Japanese and the requirement for a Japanese address during registration suggest a primary focus on serving domestic traders. This geographical limitation, coupled with potential language barriers, may deter international traders seeking their services.

FAQs

Q: What is Money Partners' main regulatory status？

A: Money Partners is regulated by the Financial Services Agency (FSA) of Japan.

Q: Can clients outside of Japan access Money Partners' services？

A: Money Partners appears to primarily serve a Japanese clientele, limiting accessibility for international traders.

Q: What are the available trading platforms at Money Partners？

A: Money Partners offers MetaTrader 4, MetaTrader 5, and its proprietary trading platform.

Q: How can clients contact Money Partners' customer support？

A: Clients can reach out through phone support, an inquiry form, or a live chat feature during specified hours.

Q: Are there deposit fees at Money Partners？

A: Money Partners does not charge deposit fees, but withdrawal fees may apply for certain methods.

Q: What are the minimum deposit rates for Money Partners' accounts？

A: Money Partners provides varying minimum deposit rates, starting at ¥10,000 for some account types and ¥100,000 for others.

What is World Forex？

World Forex, a brokerage firm based in Saint Vincent and the Grenadines and operates all over the world including countries such as Thailand, British, Saint Lucia and Russia. It provides a variety of market instruments, including Forex, CFDs for American shares, Precious metal, Oil, Cryptocurrency, to traders globally. However, it's important to consider that World Forex is currently under no valid regulations from any recognized authorities.

In the following article, we will analyze the characteristics of this broker from multiple perspectives, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also make a brief summary so that you can understand the broker's characteristics at a glance.

Pros & Cons

World Forex spells strength with a variety of offerings that cater to traders of all levels. They extend a selection of multiple account types, suiting diverse trading styles and strategies. The popular MT4/5 trading platforms, with their wide range of tools and features, are available to users across different devices. The acceptable minimum deposit at just $1 and the provision of floating spreads make trading accessible and competitive. Further benefits include abundant customer support channels for comprehensive assistance, an option for a demo account for risk-free practice, and flexible leverage ratios ranging 1:33- 1:1000 catering to risk-tolerant and risk-averse traders alike.

However, potential traders need to be aware of a few aspects. The most significant concern is that World Forex is unregulated, which can raise doubt over its credibility and security measures. Moreover, it doesn't accept clients from certain jurisdictions due to regulatory considerations.

Is World Forex Safe or Scam？

When considering the safety of a brokerage like World Forex or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

• Regulatory sight: The broker operates with an unregulated status, signifying potential risks as it lacks the assurance of full protection for traders trading on its platform.

• User feedback: You can gain valuable insights into the experiences of other clients by reviewing their opinions and feedback about the brokerage. It's advisable to look for these reviews on trustworthy websites and discussion platforms to ensure the credibility of the information.

• Security measures: World Forex prioritizes security through anti-money laundering and privacy policies, ensuring compliance with financial regulations and protecting clients' personal data. These measures in some extent enhance the safety and confidentiality of the trading environment.

Ultimately, the decision of whether or not to trade with World Forex is a personal one. You should weigh the risks and benefits carefully before making a decision.

Market Instruments

World Forex offers a comprehensive range of market instruments, including:

Forex: The broker enables access to a wide variety of 52 currency pairs, from major to exotic, for forex trading.

CFDs for American Shares: Trade Contracts for Difference (CFDs) on U.S. stocks with this broker which allows you to speculate on price movements without owning the underlying assets.

Precious Metals: Investment options in gold and silver, commonly considered safe-haven assets is another choice.

Oil: Opportunities to trade in the oil market, including WTI and Brent Crude.

Cryptocurrency: Trading access to popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others.

This diverse array of instruments caters to the preferences and strategies of traders, offering exposure to various financial markets.

Account Types

World Forex presents a wide array of account types, each serving different trading needs. They offer a Demo Account for practice and skill development, alongside various other accounts named W-CENT-fix, W-CENT, W-PROFI-fix, W-PROFI, W-CRYPTO, and W-DIGITAL. These accounts vary in features and are tailored to suit different trading scenarios and preferences.

Uniquely, World Forex has kept the entry barrier minimalistic, with a petite minimum deposit requirement of only USD 1 across these accounts. This makes World Forex's offerings readily accessible to a broad range of individuals interested in exploring the trading universe.

Furthermore, Islamic or 'swap-free' Account is also available. Traders just need to choose a trading account like W-PROFI or W-CENT and simply tick the 'swap-free' option during the account opening process.

Leverage

World Forex provides its clients with a dynamic trading leverage structure, which varies significantly from 1:33 to a whopping 1:1000. The concept of leverage in trading means that traders can essentially 'borrow' funds to place larger trades than their actual deposit. The dynamic range in leverage of this broker lets traders pick a comfortable risk level while allowing potentially higher returns.

However, it's also important to note that while higher leverage can lead to amplified profits if the market moves in favor, it equally amplifies the potential losses if the market takes a downturn. Hence, effective risk management is crucial while using leverage.

Spreads & Commissions

World Forexs wide array of accounts feature different types of spreads and commission structures.

Both the W-CENT-fix and W-PROFI-fix Accounts provide a fixed spread starting from 1.8 pips and impose no commission.

The W-CENT and W-PROFI Accounts present a floating spread starting from 0.6 pips, again with no commission charged.

Unique W-CRYPTO Account offers a floating spread beginning from 0 pips, but with a 0.5% commission involved.

Lastly, W-DIGITAL Account users experience a fixed spread starting from 1.8 pips specifically for 'Digital contract 0-100', alongside a hefty 40% commission for early closing, which applies exclusively to American digital contracts.

Trading Platforms

World Forex provides excellent versatility in terms of platform accessibility by offering MT4/5 renowned trading platforms, across a variety of devices and operating systems. Whether you're a Windows user, a macOS patron, an Android enthusiast, an iOS adherent, or even a Linux user, you can flawlessly operate and engage with your trading strategies. This broad compatibility ensures that trading activities remain uninterrupted and convenient, regardless of the operating system used by the trader. From desktop to handheld devices, World Forex makes seamless trading a reality, enabling traders to stay connected with markets anytime, anywhere, and through any device.

Trading Tools

World Forex provides traders with a set of powerful trading tools designed to enhance their trading experience.

First and foremost, their Economic Calendar is a key instrument that keeps traders informed about global economic events, allowing them to make well-informed trading decisions.

To facilitate uninterrupted and automated trading, they offer Virtual Private Server (VPS) services, ensuring consistency in trade execution without interruptions.

Next on the roaster is the MQL5 signal — a feature that allows traders to copy trades from successful signal providers, beneficial for those who may lack time to research and analyze the markets.

Last but not least, the Forex calculator enables traders to calculate various trading parameters with precision, such as margin requirements, profit, and conversion rates.

Copy Trading

World Forex enhances the trading experience by offering a “Copy Trading” option, which is a phenomenal feature particularly for novice traders or those who wish to diversify their strategies. With this feature, users have the advantage of copying the trades of experienced, successful traders directly into their own account.

This can not only save substantial time required for market analysis, but also helps new traders learn by observing strategies used by experienced ones.

Deposits & Withdrawals

World Forex provides diverse modes for transactions, ensuring convenient trading for clients.

The broker accepts Bank cards and Internet banking, adhering to users who prefer traditional methods of transactions. Moreover, modern Payment systems are also supported, including popular ones like Apple Pay and Google Pay. For large transactions, Bank transfer facilities are readily available. These avenues support different currencies, enhancing global accessibility.

Notably, each method has its specific minimum deposit request, processing time, and commission charges. Traders interested in exploring these specifics can visit the broker's official website at below link reach out to their broker directly for personalized assistance.

https://wforex.com/payment

Customer Service

World Forex optimizes client communication with multiple contact channels. Clients can get in touch with World Forex via Phone or Email for personalized assistance. The broker's physical Address for different branches is readily available for those looking for direct engagement. For details you can visit https://wforex.com/contacts.

They can also opt for real-time responses through the live chat feature. More so, World Forex extends its reach to various Social Media platforms such as Facebook, Twitter, Instagram and Trading View.

Lastly, the Contact Us form on their website offers an easy way to send in queries, suggestions, or feedback.

Education

World Forex is commendable in its approach to educating its traders. Included in their educational resources are the 'Knowledge Base' and the 'Glossary'.

The Knowledge Base is an extensive collection of articles and information crucial to understanding various aspects of trading. It is a great starting point for novices, covering topics from fundamental concepts to complex trading strategies.

The Glossary, on the other hand, is a comprehensive list of trading terminologies, assisting traders in understanding complex terms used in the trading world.

Together, these resources equip traders with the essential tools for navigating the trading landscape effectively and confidently.

Conclusion

World Forex, a brokerage firm based in Saint Vincent and the Grenadines who also operate in British, Russia, Thailand and Saint Lucia, offers a range of market instruments including Forex, CFDs for American shares, Precious metal, Oil, Cryptocurrency.

However, potential investors should be wary of the fact that World Forex is currently unregulated. This represents a major red flag as regulated brokers conform to strict financial oversight, thereby protecting clients from potential misconduct.

As such, those considering World Forex as their broker should tread carefully, conduct thorough research and consider alternative, well-regulated brokers that prioritize transparency, security and client protection.

Frequently Asked Questions (FAQs)

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.