Weltrade Review: Forex Broker & Trading Markets – Legit or a Scam?

Score

7/10/5

Min Deposit

Min Spread

1.5

Regulation

Yes (By laws of Saint lucia)

Max Leverage

1:1000000

18 years of Quality Service

Positive Ratings

70%

Neutral Ratings

20%

Negative Ratings

10%

In this era of unpredictable online trading, choosing a trustworthy broker is very central to any trader—be it a rookie or a professional. Weltrade came into being back in the year 2006 and started building a name for itself in the Forex and CFD trading market. The purpose of the review is to explain Weltrade in detail by determining its validity and worth for traders.

Company Overview

Weltrade is the trading name for Systemgates Ltd., headquartered in Saint Vincent and the Grenadines. Since 2006, this broker has constructed a quite solid platform with various trading instruments and different platforms to trade on, such as MetaTrader 4 and 5 or WebTrader.

Trading Platforms and Tools of Weltrade

Weltrade offers both MetaTrader 4 and MetaTrader 5, which are hugely popular among traders due to their reliability and functionality. MT4 is fine for people just starting to trade Forex; MT5 is much more advanced in functions related to financial trading and allows CFD trades on stocks. The proprietary WebTrader platform makes trading from a browser possible and enables an easier and more accessible way to trade.

Besides, Weltrade supports automated trading systems and scalping, which is very useful for traders working with these techniques. Addition of social trading via ZuluTrade improves the appeal further as it allows one to copy trades from successful traders.

Financial Instruments and Leverage

Weltrade provides access to a huge variety of instruments in trading: over 35 currency pairs, more than 15 cryptocurrencies, and many CFDs. The maximum leverage is as high as 1:1000, which is very attractive to those who have the guts to trade extremely highly leveraged, though at increased risks.

Fees and Spreads

The broker has competitive fee structures, with very low spreads starting from 0.5 pips for major currency pairs such as EUR/USD. No commissions on Forex pairs will significantly reduce the cost for high-volume traders. Traders, however, must be aware of other possible costs, including a withdrawal fee, and the absence of an FAQ section may further confuse fee transparency.

Account Types of Weltrade

Weltrade offers four distinct account types tailored to suit various trading strategies and experience levels. These account types are Micro, Pro, Premium, and SyntX, each with unique features and benefits to cater to different trader needs.

Micro Account (For Beginners)

Account Currency: cents USD, cents EUR
Starting Deposit: 1 USD
No-Commission Deposit: Yes
Trading Platform: MetaTrader 4, MetaTrader 5
Trading Instruments: Forex, Metals, Commodities, Indices
Spread, Pips: Floating from 1.5
Floating Leverage: up to 1:1000

The Micro account is ideal for beginners, providing an accessible entry point into trading with a minimal starting deposit and no commission on deposits. This account offers a wide range of trading instruments and utilizes popular MetaTrader platforms.

Pro Account (Best Choice)

Account Currency: USD
Starting Deposit: 100 USD
No-Commission Deposit: Yes
Trading Platform: MetaTrader 4, MetaTrader 5
Trading Instruments: Forex, Metals, Commodities, Stocks, Indices, Exotics
Spread, Pips: Floating from 0.5
Floating Leverage: up to 1:1000

The Pro account is highlighted as the best choice, providing a more comprehensive range of trading instruments including stocks and exotics. With a higher starting deposit, this account type offers tighter spreads and is suited for more serious traders.

Premium Account (For Advanced Traders)

Account Currency: USD, EUR
Starting Deposit: 25 USD
No-Commission Deposit: Yes
Trading Platform: MetaTrader 4, MetaTrader 5
Trading Instruments: Forex, Metals, Commodities, Stocks, Indices, Exotics
Spread, Pips: Floating from 1.5
Floating Leverage: up to 1:1000

The Premium account is designed for advanced traders, providing access to a wide variety of trading instruments and competitive spreads. This account type requires a moderate starting deposit and supports both major currencies.

SyntX Account (Suitable for Anyone)

Account Currency: USD
Starting Deposit: 1 USD
No-Commission Deposit: Yes
Trading Platform: MetaTrader 5
Trading Instruments: SyntXes
Spread: Floating
Floating Leverage: up to 1:1000000

The SyntX account is suitable for anyone, offering the unique feature of trading SyntXes. With a minimal starting deposit and extremely high leverage, this account type is accessible to all traders looking to explore this specific trading instrument.

Read also: CapPlace Review

Deposit and Withdrawal Options

It offers a great variety of methods to deposit and withdraw funds, including popular ones like Visa, MasterCard, several cryptocurrencies, and a few e-wallets. The deposit processing time is instant, while the broker is very fast regarding withdrawals—within 30 minutes.

Customer Support

Weltrade customer service is 24/7 in multiple languages; special emphasis is placed on providing full support to a global user base. Availability via various contact methods, including live chat and several phone numbers, assures traders that they will be helped at every turn.

Security and Regulation

One of the red flags making Weltrade suspicious is its registration in an offshore country. Such jurisdictions are usually associated with bad connotations regarding security and business transparency. However, most traders will be pleased to know that the broker has been operating since 2003 and is able to offer one very important protection to their clients: negative balance protection, ensuring the client does not lose more than they have in the account.

Unique Features

That which probably sets Weltrade a bit apart is the “Safe Box” feature: traders are provided with a depository in which they can earn interest. It might be quite an incentive to traders in terms of earning passive income from their deposits. Nevertheless, with the lack of detailed information on the terms and treatment of these deposits, potential users should be very cautious and seek more information from customer support.

Conclusion

Weltrade broker offers excellent functionality of the trading platform, a variety of trading instruments, competitive fees, and fast procedures for conducting transactions. Of course, in light of this, one of the big drawbacks could be the lack of strong regulatory oversight. Thus, despite obvious benefits, Weltrade is going to be more suitable for those traders who are ready to cooperate with an offshore jurisdiction broker. As with every other investment, however, any potential user must do his homework and decide based on his risk tolerance how to trade.

Versatile Trading Platforms
Low Minimum Deposit
High Leverage
Fast Withdrawals

Limited Information on “Safe Box” Feature
Potential Risk with High Leverage

What trading platforms are available at Weltrade?

Weltrade offers MetaTrader 4, MetaTrader 5, and its WebTrader platform for various kinds of trading.

What is the minimum deposit to open an account with Weltrade?

The minimum deposit at Weltrade is $1 for a Micro account.

Does Weltrade support cryptocurrency trading?

Yes, it does. Over 15 cryptocurrencies, including Bitcoin and Ethereum, are traded by the customers of Weltrade.

What is the maximum leverage given by Weltrade?

Weltrade provides an opportunity to trade with the leverage up to 1:1000 on some accounts and trading instruments.

How does Weltrade process withdrawal and deposit requests?

It accepts many different methods, including credit cards, cryptocurrencies, or e-wallets; the processing time of a withdrawal request on average will not be more than 30 minutes.

Is Weltrade a good broker for beginners?

Weltrade is suitable for beginners with its low minimum deposit, user-friendly platforms, and various educational resources.

Can I practice scalping and auto trading with Weltrade?

Yes. Weltrade allows both scalping and trading with the help of Expert Advisors.

What are the conditions for customer support with Weltrade?

Weltrade offers 24/7 customer support that is available via live chat, email, and several telephone numbers.

What are the special conditions of trading with Weltrade?

The “Safe Box” feature in Weltrade allows earning interest on deposits along with processing transactions quickly.

How does Weltrade secure trader funds?

Weltrade provides negative balance protection; however, traders should check further security measures since it has offshore registration.

Trusted Score

4.3/5

Score

4.3/5

Trusted Score

4.1/5

Score

4.1/5

Trusted Score

4.2/5

Score

4.2/5

Trusted Score

4/5

Score

4/5

Trusted Score

4.5/5

Score

4.5/5

Trusted Score

4.8/5

Score

4.8/5