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Yuanta Securities-Overview of Minimum Deposit, Spreads & Leverage

WorldFirst Spreads, leverage, minimum deposit Revealed

WikiFX | 2025-05-28 15:43

Abstract:WorldFirst, established in 2004, is an Australia-based, ASIC-regulated financial services organization that specializes in global business payments and currency conversion. Its key features include multi-currency accounts, foreign exchange solutions, and virtual debit cards, all with no continuing maintenance fees, making it suitable for e-commerce businesses and SMEs.

WorldFirst Review Summary
Founded2004
Registered Country/RegionAustralia
RegulationASIC (regulated); FCA (Exceeded)
Products & ServicesCurrency exchange, international payments, multi-currency accounts, virtual debit card, mass payments, forward contracts
Customer SupportPhone (Australia): 1800 326 667
Phone (NZ): 0800 666 114
Phone (International): +61 2 8298 4990
Email: media@worldfirst.com

WorldFirst Information

  WorldFirst, established in 2004, is an Australia-based, ASIC-regulated financial services organization that specializes in global business payments and currency conversion. Its key features include multi-currency accounts, foreign exchange solutions, and virtual debit cards, all with no continuing maintenance fees, making it suitable for e-commerce businesses and SMEs.

WorldFirst Information

Pros and Cons

ProsCons
Regulated by ASICPrimarily tailored to businesses, not individuals
Free multi-currency account and same-day transfers
Transparent and capped FX conversion fees
Long operational history

Is WorldFirst Legit?

  WorldFirst is a regulated financial institution. The Australian Securities and Investments Commission (ASIC) has approved World First Pty Ltd as a Market Maker. This licence is active and valid.

  Furthermore, the UK Financial Conduct Authority (FCA) granted it a payment services licence. However, its current FCA status is “Exceeded”, implying that the license may no longer be active or in compliance.

Regulated AuthorityCurrent StatusRegulated CountryLicense TypeLicense No.
Australian Securities and Investments Commission (ASIC)RegulatedAustraliaMarket Maker (MM)000331945
Financial Conduct Authority (FCA)ExceededUKPayment License900508
license
license

Products and Services

  WorldFirst is clearly positioned as a B2B (business-to-business) solution, with a focus on cross-border payments, foreign exchange services, and account management for worldwide trade.

Product/Service FeaturesSupported
Multi-Currency AccountsWorld Account – for global business needs✔
Marketplace CollectionGet paid by Amazon, Etsy, Shopify, etc.✔
Client InvoicingReceive payments directly from clients✔
Fund TransfersSend funds to business partners or suppliers✔
FX ServicesSpot contracts, forward contracts, firm orders✔
World Card PaymentsPay using World Card✔
Corporate PaymentsSolutions for importers/exporters✔
China PaymentsDirect payments into China✔
Team & Account ManagementAdmin tools for internal teams✔
Software IntegrationIntegrate with accounting systems like Xero✔
Products and Services

WorldFirst Fees

  WorldFirst's rates are often lower than industry standards, particularly for organizations that handle cross-border payments and FX. The majority of essential services are free, and where costs do apply (for example, currency exchange), they are clearly capped or maintained to a minimal percentage.

Service CategoryDetailsFee
Account Opening & MaintenanceOpen and maintain World Account0
Local & Global Currency Accounts20+ currencies
Ongoing Account FeesUnlimited users, team management
Dedicated SupportPhone, chat, and email support
Receiving & Holding PaymentsReceive payments from marketplaces/clients
Fund Your AccountFrom personal or business account
Hold FundsUp to 20+ currencies
Payments & Currency ConversionLocal AUD/NZD payments
Other Currency PaymentsLocal/cross-border (non-AUD/NZD)From 0.4%, capped at AUD 15
Payments to Other World AccountsAnywhere, instant0
Payments to 1688Instant to suppliersUp to 0.8%
FX for Major CurrenciesUSD, EUR, GBP, AUD, CAD, JPYUp to 0.6%
FX for Minor Currencies40+ currenciesFrom 0.67%
Forward ContractsRisk management solutionUp to 0.2%/month
Full Value Transfer (FVT) - USA/UK/EEAEnsures full amount is received0
FVT - Other CountriesFixed AUD 25
World Card (Debit Card)Application, 25 users, usage0
Currency Not Held in BalanceFX conversion at WorldFirst or MastercardUp to 1.5%
Tools & IntegrationsMass payments, Xero, NetSuite integration0
WorldFirst Fees

Related broker

Regulated
WorldFirst
Company name:World First Pty Ltd
Score
7.30
Website:https://www.worldfirst.com/au/
15-20 years | Regulated in Australia | Regulated in United Kingdom | Market Maker (MM)
Score
7.30

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