No, World Markets isn’t legit. It’s a known fact that the Financial Services Authority of New Zealand (FSANZ) has confirmed. The FMA also saw that World Markets isn’t authorized to offer financial products in New Zealand under its current business model. So basically, the company isn’t following the laws that govern these financial products in order to give financial help to its members and clients. These include accountants, lawyers, estate planners, venture capitalists, financial advisers and mortgage brokers.

However, you will find that World Markets still claims to be the one of the leading online brokers in New Zealand, which would make them a legit option. They’ve even made an effort recently to improve their platform to attract more customers, despite everything the internet critics are saying about how poorly they run their business. Still, even if they’re willing to improve their service, they aren’t changing the fundamental nature of the company – they’re still only in it to make money. They’re also in it to get rich quickly. You will probably see a lot of scam artists pretending to be the best when it comes to trading platforms like World Markets. For instance, one of their brokerage customers was sued by his former broker for $70k because he used the broker’s platform to open an offshore bank account without telling the broker.

So can you really trust World markets? Well, I can’t say I have any confidence in the company or the forex trading platforms that they run. Even though they’ve improved since they first started, it still seems like they’re using the same old tricks to get as many customers as possible. I’d like to see them start marketing their core products differently, offer higher minimum deposit amounts, and start making withdrawals from their account with real money (with fees). But, all these wishes are just wishful thinking at this point.