FXTM vs WelTrade - Fees Review included
Which broker is better FXTM or WelTrade? Our expert assessment conducted according to TU’s own methodology showed that FXTM is one of the top brokers in the financial market with the TU Overall Score of 5.9 out of 10. WelTrade is one of the top brokers in the financial market with the TU Overall Score of 6.63 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | WelTrade |
|---|---|---|
Overall |
4.5 |
4.2 |
4.9 |
3.5 |
|
4.7 |
4.1 |
|
4.5 |
3.8 |
|
Investment Instruments |
4.2 |
4.4 |
Platforms and Charting Tools |
4.3 |
4.5 |
Deposit and Withdrawal |
4.6 |
5 |
Research |
4.5 |
4 |
Education |
4.6 |
3.8 |
Support |
4.4 |
4.6 |
Bonuses |
2.9 |
4.3 |
|
|
|
FXTM vs WelTrade: Pros and Cons
Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC (Mauritius Financial Supervisory Commission). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).
Weltrade is an international broker. It has been in operation since 2006 and has offices in 18 countries that serve over 100,000 traders worldwide. The Company provides a full range of active trading services and also supports auto-trading. Weltrade has repeatedly proven its responsibility and professionalism. According to the 2019 Asia Forex Expo, the company received the “Best Foreign Broker” award; and in 2017, it was awarded the “Broker with the Best Client Support” title. In 2015, the Weltrade broker won the "Best Affiliate Program” nomination.
| FXTM | WelTrade | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | beneficial trading conditions |
| Stock baskets | a wide range of financial instruments for trading: currency pairs, indices, stocks, goods, cryptocurrencies | |
| 3 types of ECN accounts | ability to open different types of accounts, depending on clients’ goals and expertise | |
| Low fees and near zero spreads | individual account for cryptocurrency trading | |
| Well regulated forex broker | several services for successful traders’ transactions, such as copying; ZuluTrade & MQL5, as well as access to robots and ready indices | |
| FXTM invest copy trading platform | regular promotions and contests for traders | |
| Trading signals and trading calculators tools | ||
| Overall Cons | Lack of cryptocurrency | no PAMM investments |
| withdrawals can take up to 30 minutes |
FXTM vs WelTrade: Safety and Regulation
| Regulated By: | FXTM | WelTrade |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ForexTime is registered with the UK Financial Conduct Authority (FCA) under the number 600475 and is regulated by the CySEC of Cyprus (under number 185/12) and the South African FSCA (number 46614). The broker is also regulated by the Financial Services Commission of the Republic of Mauritius, FSC (number C113012295). |
Commission on International Financial Services (jurisdiction - Belize) |
FXTM vs WelTrade: Trading Conditions
| Trading Conditions | FXTM | WelTrade |
|---|---|---|
Minimum Deposit |
$50 |
$25 |
Trading Platforms |
MT4, MT5 |
MetaTrader 4, MetaTrader 5, MetaTrader 4 MultiTerminal, WebTrader |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1-1000 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, metals, CFD shares, indices, goods, cryptocurrencies |
Trading assets |
1000+ |
200+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Demo, Micro, Premium, Pro, ZuluTrade, and Crypto |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD, EUR |
FXTM vs WelTrade: Fees
Forex Trading Fees
| Fee | FXTM | WelTrade |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
1.4 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$2 per lot |
Not supported |
ECN Account EUR Average Spread |
0.1 pips |
Not supported |
CFD Trading Fees
| Fee | FXTM | WelTrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FXTM | WelTrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
Debit/Credit Card – 1.2% + 3 USD for withdrawals in USD and 1.2% + 2.7 EUR for withdrawals in EUR. Skrill and Qiwi – 1% Neteller – 2% |
Inactivity Fee |
$5 per month after 6 months of inactivity |
$15 per month after 3 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FXTM vs WelTrade: Trading Assets
| Asset Name | FXTM | WelTrade |
|---|---|---|
Overall |
1000+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
FXTM or WelTrade: Investment Programs
| Asset Name | FXTM | WelTrade |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: WelTrade or FXTM
| FXTM | WelTrade | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
No |
Others |
No |
Webtrader |
|
|
|
FXTM vs WelTrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTM | WelTrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
FXTM vs WelTrade: Research
| Research Type | FXTM | WelTrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
FXTM vs WelTrade: Education
| Education Type | FXTM | WelTrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
WelTrade vs FXTM: Support
| Support Features | FXTM | WelTrade |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
No |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
No |
FXTM vs WelTrade: Forex Bonuses and Promo
| Promo | FXTM | WelTrade |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
No |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
For each invited trader, the client can receive $10 |
Other Promos |
Bonus of 100% with each replenishment of the trade account with the amount of USD/EUR 200. |
|
|
|
|
Top 5 Reviews on WelTrade
-
Comment
I started collaborating with the broker Weltrade when I became interested in cryptocurrency. Here, speculative trading was offered on the MT4 platform. Of course, with such trading, there was no actual purchase of cryptocurrency, but speculations, especially with margin trading, attracted me. Later on, I started trading with regular currency pairs as well. I consider Weltrade to be a decent company.
-
Comment
Weltrade cannot be trusted. They tell beautiful stories and offer favorable conditions. But in fact, weltrade does everything to ensure that your money stays with them forever. I traded here for four months and lost my entire deposit due to technical glitches. Nobody returned my money.
-
Comment
Tried trading with Weltrade, and honestly, I didn't like it. I'm not going to stay on a platform where the order execution speed is very slow. Even two seconds for order processing is too much, and with Weltrade, orders are processed in 30 seconds or more. This is crucial for me. I don't see the point. Besides, I can't say I'm thrilled with the conditions. This broker is not my choice!
-
Comment
Weltrade has good conditions only in words. But in fact, they are ordinary scammers who register accounts in a company with offshore jurisdiction. And then they don’t even hide their mockery when you try to threaten them with claims to regulators. The Weltrade platform may not start for several hours during the day. And then there are huge gaps. And that's okay for them.
-
Comment
Initially, Weltrade was a fraudulent structure. Maybe they withdrew money for someone so that they would have something to refer to. But for the most part, these scammers deceived those who wanted to earn and simply took their money. Experienced traders did not trade with Weltrade, but novice traders fell into the trap of scammers.
Top 5 Reviews on FXTM
-
Comment
I noticed a great difference between trading on a demo account and a live one with FXTM. There were no requotes or significant slippages on the demo account, which created the illusion of simple trading. However, when switching to a live account on the FXTM platform, some technical problems arose that made successful trading difficult. Apparently, real conditions require a more attentive and cautious approach to trading.
-
Comment
One day I decided to try my hand at trading with FXTM. However, they don't seem to be very interested in new traders. Managers from FXTM did not even want to help me complete the verification procedure to withdraw funds. In the end, I earned some money, provided them with the necessary documents, but they still blocked my user account when I submitted a withdrawal request. They refused to even discuss it and treated me rudely. FXTM managers are simply disrespectful.
-
Comment
I decided not to trade with FXTM. I won’t deny it, I limited myself to only testing a demo account with this company. It turned out that the order execution speed is very low, so orders are opened at unprofitable prices, and it is impossible to conduct a normal market analysis. I think I'm not the only one who encountered such problems at FXTM.
-
Comment
FXTM is creating problems when traders execute successful trades. At first glance, they give traders the opportunity to work and even withdraw small amounts of profit. However, as soon as profitable operations begin, difficulties occur. Withdrawing funds becomes problematic as support begins to suspect its clients of “dubious trades”. I don't recommend FXTM.
-
Comment
FXTM is a dishonest broker! I don’t even want to recall how I was deceived here! The support assured that everything was transparent and there was no manipulation. Then why does the price always, before closing an order, suddenly go against me? And it would be okay if it were on several trades! But this happens all the time! FXTM just completely took my deposit!
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!