WELTRADE Forex Broker

WELTRADE Review SummaryFounded2006Registered Country/RegionSaint Vincent and the GrenadinesRegulationNBRB/FSC (Revoked), FSCA (Exceeded)Market InstrumentsForex, metals, index CFDs, commodities, stock CFDsDemo Account✅SpreadFloating from 1.5 pips (Micro account)LeverageUp to 10000xTrading PlatformMT4, MT5, Weltrade AppMinimum DepositUSD 1Customer SupportLive chat, FAQSocial platforms: Facebook, LinkedIn, InstagramEmail: info@weltrade.comRegistered Address: Unit Suite 305, Griffith Corporate Centre, PO BOX 1510, Beachmont, Kingstown, Saint Vincent and the GrenadinesEmail and registered offices in other countries: https://www.weltrade.com/customersupport/Restricted RegionsUSA, Canada, EU, Belarus and RussiaWELTRADE Information WELTRADE was initially registered in Saint Vincent and the Grenadines and also now operates in dozens of countries worldwide. The broker offers a wide range of trading services in forex, metals, index CFDs, commodities, stock CFDs. It offers a demo account for you to get familiar with the platform and your trading strategy. Besides, four tiered live accounts are available to suit different levels of investors. Traders can excute trades on the well-acclaimed MetaTrader 4 and 5 platforms, as well as the broker's self-developed Weltrade App. Trading tools such as trading/pip/profit/Fibonacci calculators, tradingview charts and economic calenders are available to enhance trading efficiencies. Moreover, the broker offers a series of educational resources including webinars and seminars, MetaTrader guides, indicators, etc to help traders better understand the financial world and trading. However, one fact that cannot be neglected is that although the broker claims to be regulated by the NBRB, FSC, and FSCA, none of them is normal.Pros and ConsProsConsDemo accountsRevoked NBRB and FSC licenseMT4 and MT5 platformsExceeded FSCA licenseMultiple trading toolsAbnormal high leverage levelsAffordable minimum depositPromotion programsNo trading commissionsRich educational resourcesIs WELTRADE Legit? No. WELTRADE currently has no valid regulations. It only holds revoked NBRB and FSC licenses, and an exceeded FSCA license. Please be aware of the risk!Regulated CountryRegulatorCurrent StatusRegulated EntityLicense TypeLicense No.National Bank of the Republic of Belarus (NBRB)RevokedLLC SystemGates LimitedRetail Forex License192727233Financial Services Commission (FSC)RevokedSystemgates Capital Ltd.Retail Forex LicenseIFSC/60/350/TS/17Financial Sector Conduct Authority (FSCA)ExceededWELTRADE SA (PTY) LTDFinancial Service Corporate50691 What Can I Trade on WELTRADE?Trading InstrumentsSupportedForex✔Metals✔Index CFDs✔Commodities✔Stock CFDs✔Cryptocurrencies❌Bonds❌Options❌ETFs❌Account Type WELTRADE not only offers a demo account for you to simulating real trading with virtual funds before tapping into real trading, but also four tiered live accounts with different traidng conditions to suite various levels of investors and different products:Account TypeMinimum DepositAccepted CurrenciesSpreadCommissionMicroUSD 1Cents USD, cents EURFloating from 1.5 pips❌ProUSD 100USDFloating from 0.5 pipsPremiumUSD 25USD, EURFloating from 1.5 pipsSyntXUSD 1USDFloatingLeverage WELTRADE offers leverage up to 10000x, which is not normal among most brokerage companies. Usually leverage not only signifies profits, but also losses, thus it's strongly recommended that you should deal with leverage with this broker in extreme caution.Account TypeMaximum LeverageMicro1:1000ProPremiumSyntX1:10000Trading Platform WELTRADE claims to use the world renowned MetaTrader 4 and 5 platforms, which are well-recognized by its advanced charting tools and robust functionalities. You can reach the platforms on web, or download app from Windows, mobiles phones and Mac. Besides, the company also developed its own trading platform WELTRADE App, downloadble from both iOS and Android devices.Trading PlatformSupportedAvailable DevicesSuitable forMT4✔iOS, Android, Windows, MacOS, WebBeginnersMT5✔iOS, Android, Huawei, Windows, MacOS, WebExperienced tradersWeltrade App✔iOS, Android/Deposit and Withdrawal WELTRADE supports several funding methods:Payment MethodAccepted CurrenciesDeposit FeeWithdrawal FeeDeposit TimeWithdrawal TimeVISA/MASTERCARD/UNIONPAYUSD❌4% + 2 USDInstantaneous30 min, 24/7Skrill1%NetellerUSD, EUR2% (min. $1.00)IDLBIDRSender's bank tariff❌Within 24 hoursFasaPayUSD, IDR❌0.5% (min. $0.01, max. $5.00)Instantaneous