Weltrade foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://account.weltrade.com/auth/registration, about the company's legal and temporary regulatory information, the company's address unit Suite 305, Griffith Corporate Centre, PO BOX 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines.
Weltrade Forex Broker
Basic Information
Saint Vincent and the Grenadines
5-10 years Suspicious Regulatory License Regional Brokers High potential riskCompany profile
Is Weltrade safe or scam
Rating Index
Digital
ZuluTrade
Weltrade Forex Broker - Complete Information Guide
1. Broker Overview
Weltrade, established in 2006, is an international forex and CFD broker that has garnered a significant presence in the trading industry. The broker operates under the name of System Gates Ltd, with its headquarters located in Saint Vincent and the Grenadines. Over the years, Weltrade has expanded its operations, establishing offices in various countries, including Thailand, Ukraine, and Russia, serving a diverse clientele of over 600,000 traders across 180 countries.
The company has evolved through several significant milestones, including its rebranding in 2012 and the introduction of innovative trading services. Weltrade has received multiple awards, such as "Best Foreign Broker" at the 2019 Asia Forex Expo and "Best Client Support" in 2017. The broker primarily offers retail forex trading services, catering to both novice and experienced traders, with a focus on providing a user-friendly trading environment and competitive trading conditions.
Weltrade broker operates on a market maker model, providing access to a wide range of financial instruments, including forex pairs, commodities, indices, and cryptocurrencies. The broker's commitment to client satisfaction is evident in its continuous efforts to enhance trading conditions and services.
2. Regulation and Compliance Information
Weltrade is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, with the regulatory license number 50691. This oversight ensures that the broker adheres to specific industry standards and practices, providing a level of security for its clients. Additionally, Weltrade operates under the jurisdiction of Saint Vincent and the Grenadines, where it is registered as System Gates Ltd with company number 24513 IBC 2018.
The broker's regulatory framework includes measures for client fund protection, ensuring that traders' funds are kept in segregated accounts, separate from the broker's operational funds. This practice is essential for safeguarding clients' investments against potential financial difficulties faced by the broker.
Weltrade follows strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, requiring traders to verify their identities and provide relevant documentation before engaging in trading activities. This compliance helps maintain a secure trading environment and promotes transparency within the broker's operations.
3. Trading Products and Services
Weltrade offers a diverse array of trading products, catering to various trading preferences and strategies. Traders can access over 40 currency pairs, including major, minor, and exotic pairs, providing ample opportunities for forex trading. The broker also offers a range of CFD products, including:
- Indices: Access to major global stock indices, allowing traders to diversify their portfolios.
- Commodities: Trading options include precious metals like gold and silver, as well as energy products such as crude oil.
- Cryptocurrencies: Weltrade provides trading in popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, catering to the growing demand for digital assets.
The broker regularly updates its product offerings, ensuring that clients have access to the latest financial instruments and trading opportunities. Weltrade focuses on retail trading services, providing a user-friendly platform for individual traders. However, it does not currently offer institutional services or white-label solutions.
4. Trading Platforms and Technology
Weltrade supports the widely recognized MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, both of which are renowned for their advanced features and user-friendly interfaces. These platforms are accessible on desktop, mobile devices, and through a web-based terminal, allowing traders to engage in trading activities from virtually anywhere.
- MetaTrader 4: Known for its robust analytical tools and automated trading capabilities, MT4 supports a wide range of technical indicators and expert advisors (EAs), enabling traders to automate their strategies effectively.
- MetaTrader 5: This platform builds upon the strengths of MT4, offering additional features such as more timeframes, an economic calendar, and improved analytical tools, making it suitable for more advanced trading strategies.
Weltrade also provides a proprietary web-based trading platform, which offers a simplified trading experience with direct market access. The broker employs a market execution model, ensuring fast order processing and minimal slippage. Additionally, the broker's infrastructure includes secure servers, enhancing the overall trading experience.
5. Account Types and Trading Conditions
Weltrade offers several account types tailored to different trading needs and experience levels:
- Micro Account: Ideal for beginners, this account requires a minimum deposit of $1, with floating spreads starting from 1.5 pips. It allows for leverage up to 1:1000.
- Premium Account: Designed for intermediate traders, this account has a minimum deposit requirement of $25 and offers tighter spreads with similar leverage options.
- Pro Account: Best suited for experienced traders, this account requires a minimum deposit of $100 and provides the tightest spreads starting from 0.5 pips.
- Zulutrade Account: This account is specifically for social trading, allowing traders to copy the strategies of successful traders. A minimum deposit of $200 is required.
All accounts offer no commission on trades, making Weltrade an attractive choice for cost-conscious traders. The broker also provides a demo account option, allowing prospective clients to practice trading without risking real funds.
6. Funds Management
Weltrade supports a variety of deposit and withdrawal methods, ensuring convenience for its clients. Traders can deposit funds using:
- Bank Transfers
- Credit/Debit Cards (Visa, Mastercard)
- E-Wallets (Skrill, Neteller, Perfect Money)
- Cryptocurrencies (Bitcoin, Ethereum, Litecoin)
The minimum deposit requirement varies by account type, with the micro account starting at just $1. Deposits are typically processed instantly, while withdrawal requests are managed within 30 minutes, making Weltrade one of the faster brokers in the industry.
While there are no deposit fees, withdrawal fees may apply depending on the payment method chosen. For example, withdrawals via credit cards may incur a fee of 1.2% + $3 for USD transactions. It's essential for traders to review the fee structure associated with their chosen payment methods.
7. Customer Support and Educational Resources
Weltrade provides comprehensive customer support, available 24/7 through multiple channels, including:
- Live Chat
- Phone Support
The support team is multilingual, catering to clients from various regions. Additionally, Weltrade offers a range of educational resources, including webinars, tutorials, and market analysis, to help traders enhance their skills and knowledge.
However, some users have noted that the educational content is limited compared to other brokers, which may require traders to seek additional resources externally. The broker also provides trading tools such as calculators and economic calendars to assist traders in making informed decisions.
8. Regional Coverage and Restrictions
Weltrade primarily serves clients from various regions, with a strong presence in Asia and Latin America. However, the broker does not accept clients from the USA, Canada, Belarus, and Russia, among other countries. This limitation is crucial for potential clients to consider when evaluating whether Weltrade is a suitable choice for their trading needs.
The broker's offices in multiple countries enhance its ability to cater to a diverse clientele, but traders should always ensure that they comply with their local regulations when engaging with an offshore broker like Weltrade.
In conclusion, the Weltrade broker offers a comprehensive trading experience with a range of products, competitive trading conditions, and a user-friendly platform. While it has garnered a positive reputation among many traders, potential clients should carefully consider the regulatory aspects and customer feedback before making a decision.
Weltrade Similar Brokers
Latest Reviews
覃文杰【火雲】
Venezuela
So far my experience with weltrade has been good. I have access to multiple assets and platforms, as well as many educational resources. Their leverage is also high, 1:1000, but I am still a newbie as I never use such high leverage. I am still learning and the advisers at weltrade have helped me a lot. I hope you keep winning!
Positive
2022-11-21
talal baig
Pakistan
The Weltrade company had increased the spread for Gold, almost 1600 % from what it usually was and my account could not withstand. Moreover, Systemgates Ltd aka Weltrade is changing its registration every single year, from one offshore country to another. In 2016 it was Vanuatu, in 2017 it was Belize and in 2018 it is Saint Vincent and the Grenadines. I found out that Systemgates Ltd has no licence whatsoever to engage in forex trading since the Financial Services Authority does not issue.
Exposure
2021-09-15
Weltrade
News
News What is Weltrade? – The company presented
What is Weltrade? – The company presented
黎奕辰
Singapore
Weltrade claims to be a reliable and regulated broker, but this is not the case. Thanks to wikifx for letting me see through the scammers' lies!
37130
2023-02-24