Is WELTRADE Regulated? Is it safe? - TU Expert review
License is the most important document you have to consider when choosing a broker. Many traders, who would like to start working with WELTRADE try to check whether it is regulated. Traders Union experts have already done that. In this article, you will learn whether WELTRADE is regulated, what regulatory authorities supervise the broker and whether it is safe to work with the company in general.
Short summary about the broker WELTRADE
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.
| 💰 Account currency: | USD — for Pro, ZuluTrade, Crypto; USD, EUR — for Micro and Premium |
|---|---|
| 🚀 Minimum deposit: | 25 USD (Micro), 200 USD (Premium, Pro), 50 USD (Crypto), 500 USD (Pro) |
| ⚖️ Leverage: | 1:33 — 1:1000 (Micro, Premium, ZuluTrade), 1:1 — 1:1000 (Pro), 1:3 — 1:20 (Crypto) |
| 💱 Spread: | Floating — from 0 to 2.9 pips |
| 🔧 Instruments: | Forex tools, metals, CFD shares, indices, goods, cryptocurrencies |
| 💹 Margin Call / Stop Out: | from 20% / from 10% |
Pros and cons of WELTRADE
👍 Advantages of trading with WELTRADE:
•beneficial trading conditions;
•a wide range of financial instruments for trading: currency pairs, indices, stocks, goods, cryptocurrencies;
•ability to open different types of accounts, depending on clients’ goals and expertise;
•individual account for cryptocurrency trading;
•several methods to deposit and withdraw funds from trading accounts;
•several services for successful traders’ transactions, such as copying; ZuluTrade & MQL5, as well as access to robots and ready indices;
•regular promotions and contests for traders.
👎 Disadvantages of WELTRADE:
•the minimum deposit is $25;
•no PAMM investments;
•withdrawals can take up to 30 minutes.
Why is it important to work with a regulated broker?
License is a document that certifies that a broker operates legally and guarantees fulfillment of its obligations to the traders. A financial license is issued by a financial regulatory authority of a country (the National Bank) or a specialized authority (for example, Securities Commission, Futures Trading Commission, etc.). It is important to choose licensed brokers for the following reasons:
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A license guarantees that the broker operates in compliance with the rules of the financial regulator that issued the document.
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In order to obtain the license, a broker must comply with certain requirements, for example, the size of the authorized capital or personnel qualification. It is simply not lucrative for scammers to comply with such requirements.
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A broker’s license provides access to real markets, and you can be sure that the quotes are real and up-to-date.
The best option is to work with a broker that holds the license of the jurisdiction, where the trader resides. You can also choose a company with a financial license of another reliable jurisdiction, for example, the U.S. or the European Union.
Is WELTRADE Regulated? Broker’s license
Security (Protection for Investors)
The activities of the Weltrade company are regulated by the International Financial Services Commission - FSC Belize (license FSC/60/350/TS/17).
FSC Belize is an international financial regulator. The commission sets strict requirements for its member companies. Only brokers meeting the standards of the regulator and fulfilling all its requirements are eligible to obtain a license from the organization.
Weltrade Company carries out financial activities following its internal regulations, as well as based on the regulator’s requirements. This ensures the safety and security of the monetary assets of Weltrade customers. The rights and obligations of both market participants are specified in the agreement published on the broker's website.
👍 Advantages
- Clients’ accounts are maintained pursuant to the requirements of the regulator
- The customer is protected from a negative balance
- An agreement regulating the relationship of the broker with the trader
- Risk Warning and Customer Support
👎 Disadvantages
- A lot of legal documents that must be studied before starting cooperation with Weltrade
Brokerage fees
Broker’s regulation is the most important choice criterion. However, before you start working with the broker, it is also important to analyze its commissions and fees. TU analysts have studied the commissions and fees charged by WELTRADE, which you can see below.
Weltrade was verified by the Traders Union specialists for trade and non-trade commissions. In the category of the trading commission, the broker spread was considered, and as a non-trading commission, an additional withdrawal fee was considered. The commission fee is from 0.5% to 2.5%, depending on the replenishment method.
| Account type | Spread (minimum value) | Withdrawal commission |
| Micro | From 1,9$ | Yes |
| Premium | From 19$ | Yes |
| Pro | From 5$ | Yes |
| ZuluTrade | From 29$ | Yes |
| Crypto | From 0 pips | Yes |
Brokers that are similar to WELTRADE
Many brokers operate legally, obtaining relevant licenses and permissions. However, when choosing a broker, it is important to compare their trading conditions. TU experts have prepared a comparative analysis of WELTRADE conditions with its closest competitors.
Comparison of WELTRADE with other Brokers
| WELTRADE | RoboForex | Pocket Option | Exness | Deriv | FxGlory | |
|---|---|---|---|---|---|---|
Trading platform |
MT4, MobileTrading |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
Deriv bot, Deriv MT5, Derivix, Deriv Trader, SmartTrader |
MT4, MobileTrading, MT5 |
Min deposit |
$25 |
$10 |
$5 |
$10 |
$5 |
$1 |
Leverage |
From 1:33 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
5.00%% |
No |
No |
No |
1.00%% |
8.00%% |
Spread |
From 0.5 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 2 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Instant Execution, Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
Yes |
Yes |
No |
No |
No |
No |
Weltrade is a broker with working conditions suitable for both novice and professionals traders. The Company specializes in active trading services. It offers copying and algorithmic trading services for passive earnings.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
Deriv is a broker for beginners and professional traders who prefer to make trades on their own, as well as use auxiliary programs for more efficient trading.
FxGlory is a universal broker for active trading that is likely to be interesting for European traders.
Conclusions
WELTRADE cannot be considered absolutely reliable. The broker operates on a license of an offshore regulator. This creates certain risks regarding security of your funds. The broker has a good reputation. However, you can work with companies with an offshore regulation only at your own risk.
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FAQ
How difficult is it to obtain a brokerage license?
The procedure for obtaining a license differs depending on the jurisdiction, but it is very difficult and expensive to get the document in a reliable jurisdiction. This is why only reliable brokers obtain licenses.
Why is it not recommended to work with offshore brokers?
Offshore brokers have to meet minimum requirements for obtaining a license and reporting, which is why often scammers get such licenses.
Can an offshore broker be reliable?
Yes, although there are not many of such brokers. There are brokers with a good reputation, but with an offshore license. You still need to be very cautious when working with such companies.
How do I check a broker’s reputation?
In order to check a broker’s reputation, you need to read user reviews. However, it is recommended to only use independent websites for that.
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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.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.