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WorldFirst -

Score

7.30 /10
Good

WorldFirst

Australia

15-20 years

Regulated in Australia

Market Maker (MM)

Global Business

Suspicious Overrun

High potential risk

https://www.worldfirst.com/au

Influence

AA

Add brokers

Comparison

Quantity 4

Exposure

Open Account
Website

Score

Regulatory Index8.47

Business Index8.78

Risk Management Index0.00

Software Index7.63

License Index8.36

Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

More

Company Name

World First Pty Ltd

Company Abbreviation

WorldFirst

Platform registered country and region

Australia

Company website

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Facebook

Instagram

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Linkedin

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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WikiFX Risk Alerts 3
Previous Detection : 2025-05-28
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • This broker exceeds the business scope regulated by United Kingdom FCA(license number: 900508)Payment services Non-Forex License. Please be aware of the risk!

WikiFX Survey

Danger

WorldFirst

United Kingdom

WikiFX Verification

Exposure

4 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

Fraud platform

I though it was a foreign exchange platform but my account was locked when I withdrew. It asked me to pay $5000 as the margin but I could only contact it on line. I’m not sure about whether I could get the margin back.

YEHANLONG
2021-10-22 18:13
Resolved

Unable to withdraw due to wrong account. The account was locked

Customer service replied and asked me to pay $10,000 to unlock the deposit. Because the financial regulatory authorities have stricter requirements of account and asset security, there requires more deposits. There are no clear regulations on the platform. It seems unreasonable to withdraw the unfreezing deposit.

SUYICHENG
2021-07-28 17:11
Resolved

Unable to withdraw

Unable to withdraw. The platform asked me to deposited $5,000 for risk fee. This made no sense. We were just investors, and unable to control withdrawals and deposits on the platform. I supposed it was a fraud platform. Only the official customer service responded. No telephone. I still had $25,124 in my account, but was unable to withdraw.

SUYICHENG
2021-08-05 14:43
Resolved

Unable to withdraw $20,572. A risk fund of $5,000 within 24 hours was required to unlock.

Customer service reply: Hello, the company informed that because the technical department detected an abnormal problem with your account, which might be stolen. So the withdrawal did not pass the review, and you need to pay $5000 risk fund . Question: I did not operate abnormally, and the withdrawal of $20,572 was unsuccessful. The customer service asked me to pay $5,000 because of improper operation. Is this reasonable?

SUYICHENG
2021-07-31 21:24
WorldFirst · Company summary
WorldFirst Review Summary
Founded2004
Registered Country/RegionAustralia
RegulationASIC (regulated); FCA (Exceeded)
Products and ServicesCurrency exchange, international payments, multi-currency accounts, virtual debit card, mass payments, forward contracts
Demo Account❌
Customer SupportPhone (Australia): 1800 326 667
Phone (NZ): 0800 666 114
Phone (International): +61 2 8298 4990
Email (Media): 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 ASICNo demo account
Free multi-currency account and same-day transfersPrimarily tailored to businesses, not individuals
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 CategoryDescriptionSupported
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 AccountFree
Local & Global Currency Accounts20+ currenciesFree
Ongoing Account FeesUnlimited users, team managementFree
Dedicated SupportPhone, chat, and email supportFree
Receiving & Holding PaymentsReceive payments from marketplaces/clientsFree
Fund Your AccountFrom personal or business accountFree
Hold FundsUp to 20+ currenciesFree
Payments & Currency ConversionLocal AUD/NZD paymentsFree
Other Currency PaymentsLocal/cross-border (non-AUD/NZD)From 0.4%, capped at AUD15
Payments to Other World AccountsAnywhere, instantFree
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 receivedFree
FVT - Other CountriesFixed AUD25
World Card (Debit Card)Application, 25 users, usageFree
Currency Not Held in BalanceFX conversion at WorldFirst or MastercardUp to 1.5%
Tools & IntegrationsMass payments, Xero, NetSuite integrationFree
WorldFirst Fees

User Reviews

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User comment

5

Comments

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FX1485573802
more than one year
WorldFirst has been my go-to for international transfers. It's reassuring to know they're regulated by ASIC and registered with AUSTRAC. Transferring money is hassle-free, and they're pretty clear about any fees involved.
WorldFirst has been my go-to for international transfers. It's reassuring to know they're regulated by ASIC and registered with AUSTRAC. Transferring money is hassle-free, and they're pretty clear about any fees involved.
Translate to English
2024-06-04 14:26
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Gorgous
more than one year
I must say, avoid signing up with them for options trading. The fees are exorbitant, and if you happen to win a trade, they'll devour all your profits with their charges.
I must say, avoid signing up with them for options trading. The fees are exorbitant, and if you happen to win a trade, they'll devour all your profits with their charges.
Translate to English
2024-03-08 14:16
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4