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Weltrade Broker Review
Published: Apr 20, 2020
Updated: May 10, 2023
Last Updated On May 10, 2023
2.67
/ 5
FX Scouts does NOT recommend Weltrade due to insufficient regulation. We suggest you continue your search using our approved brokers list.Last Updated On May 10, 2023
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website you agree to our Terms of Service.
Our verdict on Weltrade
We consider that Weltrade has insufficient regulation and oversight to be considered a trusted broker. With offices only on the island of St. Vincent and the Grenadines, where rules are known for being weak and ineffective, it is better to look for a broker which is regulated by more responsible entities like the FCA, the FSCA, ASIC or CySEC.
As an MT4 broker, Weltrade is guaranteed to give you a connection to the market, but with a lack of education and withdrawal processing times and fees beyond what should be considered acceptable, it is best to find a different broker.
| 🏦 Min. Deposit | USD 25 |
| 🛡️ Regulated By | FSA-St-Vincent |
| 💵 Trading Cost | USD 15 |
| ⚖️ Max. Leverage | 1000:1 |
| 💹 Copy Trading | Yes |
| 🖥️ Platforms | MT4, MT5 |
| 💱 Instruments | Commodities, Forex, Stock CFDs, Indices, Metals |
Overall Summary
Deposit & Withdrawal Methods
Supported Platforms for Weltrade
Account Information
Trading Conditions
Company Details
Deposit & Withdrawal Methods
Supported Platforms for Weltrade
Pros
- Great platform choice
Cons
- Wide spreads
- Not properly regulated
- Expensive withdrawals
- Limited educational material
Editorial Team
Chris Cammack
Head of Content
Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.
Alison Heyerdahl
Senior Financial Writer
Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.
Ida Hermansen
Financial Writer
Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.
Compare Brokers
Find out how Weltrade stacks up against other brokers.
We suggest that you find an alternative regulated broker governed by processes designed to protect your funds.
FX Scouts does NOT recommend Weltrade due to insufficient regulation. We suggest you continue your search using our approved brokers list.
2.67
/ 5
Data provided by FX Scouts Tanzania
Weltrade Trading Cost Comparison
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