Weltrade Broker Review

Author By Jeffrey Cammack
Updated: November 22, 2021
Overall Rating
2.67 2.67 / 5
Rated #68 of 68 Recommended Brokers
🏦  Min. DepositUSD 25
🛡️  Regulated By
💵  Trading Cost 
USD 15
⚖️  Max. Leverage1000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertAccepts South African Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT5 platform supported.TradeForexSA does NOT recommend Weltrade due to insufficient regulation. We suggest you continue your search using our approved brokers list.
Last updated on 22 Nov 2021
by Editorial Director Jeffrey Cammack
Jeffrey Cammack

TradeForexSA has been South Africa’s most trusted Forex broker review site since 2012. Our team has written 100+ broker reviews and we constantly test to maintain accuracy. This is how we review brokers.

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Our verdict on Weltrade

For beginner traders who do not want to risk trading large sums of money and prefer to trade in smaller trade sizes, Weltrade may be a tempting option.  However, traders should be aware that because Weltrade is based in Saint Vincent and the Grenadines, it lacks regulatory oversight.  

An STP broker, Weltrade offers trading on a small range of tradable instruments, including 37 forex pairs, 2 commodities, 4 metals, and 15 cryptocurrencies, which is severely limited compared to other brokers.  

Weltrade offers five live accounts and an unlimited demo account.  Although the minimum deposit is low on its entry-level account, at 25 USD, and it offers trading in micro-lots, spreads are wide, averaging at 1.50 pips on the EUR/USD. Spreads tighten to 0.5 pips (EUR/USD) on its Pro Account, but this is in exchange for a minimum deposit requirement of 500 USD.  Additionally, the trading costs on its Zulutrade Account are exorbitantly high.  

Weltrade offers full support for the standard MetaTrader4 and its innovative successor, MetaTrader 5, but offers virtually no trading tools.  It also lacks educational and market analysis materials, forcing traders to self-educate elsewhere.  

🏦  Min. DepositUSD 25
🛡️  Regulated By
💵  Trading Cost 
USD USD 15
⚖️  Max. Leverage1000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Overall Summary

Regulation
100001/ 5
Trading Conditions
111003/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
100001/ 5
Education & Research
10.50001.5/ 5
Assets Available
111104/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Standard
Welcome Bonus

Account Information

Base Currencies
USD, EUR
Number of FX Pairs
37
Crypto Pairs
15
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Trading Desk
Commission
1.5 pips / lot
EUR/USD
1.50 pips
GBP/USD
1.60 pips
USD/JPY
2.10 pips
Negative Balance Protection

Company Details

Company Name
Systemgates Ltd
Founded
2006
Website Language
English
Support Language
English
Office Locations
Saint Vincent

Pros

  • Great platform choice

Cons

  • Wide spreads
  • Not properly regulated
  • Expensive withdrawals
  • Limited educational material

Is Weltrade Safe?

A company incorporated in Saint Vincent and the Grenadines, Weltrade is essentially unregulated.  As such, any claims it makes regarding the safety of client funds cannot be verified. We suggest that you find an alternative regulated broker governed by processes designed to protect your funds.

Founded in 2006 and headquartered in St. Vincent and the Grenadines, Weltrade is an international broker that lacks regulatory oversight.  See below for registration details: 

  • Systemgates Ltd, a company incorporated at Saint Vincent and the Grenadines with company number 24513 IBC, 2018 with a registered address at unit Suite 305, Griffith Corporate Centre, PO BOX 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines.

For all intents and purposes, the SVG FSA is not considered a forex broker regulator and applies no supervision of any CFD trading-related activities.  Clients must rely solely on the reputation of Weltrade, as no additional measures exist to ensure client protection. However, in a show of good faith, Weltrade claims to segregate all client funds from the company’s operating capital at various top-tier banks, and it offers negative balance protection to all its clients.  

However, as an unregulated broker, any statements it makes regarding its operations cannot be verified. 

Traders should also note that the SVG FSA will not provide any protection of client funds or compensation if the company becomes insolvent.  

Overall, South African traders should be aware of trading with a broker that is essentially unregulated.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Additional Fees
FSA-St-Vincent
STP
2006
Saint Vincent
Withdrawal fees

Trading Fees

Weltrade’s trading fees are higher than other similar brokers.  

Like most other brokers, Weltrade offers a range of accounts with higher minimum deposits linked to tighter spreads. It also offers a Digital Account for trading cryptocurrencies and a Zulutrade Account with extremely wide spreads (up to 2.9 pips on the EUR/USD) and a commission per lot traded.  

Weltrade’s accounts were assessed to compare the costs to those of other brokers. When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread.    

The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spread and commission:

Trading Cost Formula: Spread x Trade Size + Commission = Cost in Secondary Currency (USD):

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Trading account
Min. Deposit
Min. Spread EUR/USD
Commission
Trading Cost (USD)
Digital
USD 50
0.0
Spread Only
N/A
Micro
USD 25
1.50
Spread Only
15.0
Premium
USD 200
1.50
Spread Only
15.0
Pro
USD 500
0.50
Spread Only
5.0
ZuluTrade
USD 200
2.90
1.5 pips
44.0

As you can see from the table above, the trading costs on the Pro account are lower than those of the other account types and lower than those of other brokers.  Most other brokers have a trading cost of 9 USD per lot of EUR/USD traded. However, the Pro Account has a minimum deposit requirement of 500 USD.  

The trading costs on the Micro and Premium accounts are 15 USD, which are higher than the costs on other brokers’ entry-level accounts.  The Zulutrade account also charges a spread mark-up and trading commission, rendering it an expensive option.  

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Weltrade
111003/ 5
USD, EUR
1.50 pips
USD 15
1.50 pips
1.60 pips
2.10 pips
USD 0
FXTM
11110.54.5/ 5
USD, EUR, GBP, NGN
1.50 pips
USD 15
0.00 pips
0.20 pips
0.00 pips
USD 0
BDSwiss
11110.54.5/ 5
EUR, USD, GBP, PLN, DKK, SEK, NOK, CHF
1.50 pips
USD 15
0.30 pips
0.60 pips
0.30 pips
USD 0

Swap Fees

Another important cost to consider is the swap rate charged on positions held overnight.   Interest is paid (or received) for each night a position is held. When trading a currency, you are borrowing one currency to purchase another. The swap interest fee is calculated based on the difference between the two interest rates of the traded currencies.

The swap fees are published alongside each instrument for both the long and short positions.  For example, the swap rate for holding a long position of EUR/USD open for one night is -0.75 USD, and a short position is +0.10 USD.

Overall, Weltrade’s trading fees are higher than other brokers on most of its account types, but lower than average on its Pro Account, although this requires a minimum deposit of 500 USD.

Weltrade’s Non-trading Fees

Weltrade’s non-trading fees are average compared to other brokers.

Some of the most overlooked trading costs are the non-trading fees that are charged by brokers.  These fees can significantly affect your profitability and so should be carefully scrutinised.

Multibank does not charge any deposit or account fees.  However, it charges withdrawal fees on most methods – for example, a fee of 1.2% + 3USD is charged for withdrawing USD via debit or credit cards (click here for more on Weltrade’s deposits and withdrawals).  

Additionally, while no inactivity fees are charged, an account with no activity for one month, with an account balance of less than 1 USD will be archived.  

Opening an Account at Weltrade

The account opening process at Weltrade is user-friendly, fully digital and accounts are ready for trading immediately.

All South African residents are eligible to open an account at Weltrade but have to meet the following minimum deposit requirements:

  • Micro Account: 25 USD
  • Premium Account: 200 USD
  • Pro Account: 500 USD
  • Zulutrade Account: 200 USD
  • Digital Account: 50 USD

Creating an account is straightforward, the process is fully digital, and accounts are usually ready immediately. Weltrade offers individual and corporate accounts, but we will focus on opening an individual account:

  1. New traders will have to click on the “Registration” button at the top of the page where they will be directed to fill in their name, email address, and telephone number. A PIN confirmation will be sent to the registered email address.

  2. Traders will then have to fill in their personal details, including name, surname, and date of birth.

  3. Next traders will have to fill in their trading account settings, including preferred platform, account type, level of leverage.

  4. Traders will then have to upload the following documents:

    • Proof of Identification – Weltrade accepts all government-issued identification documents such as Passport, national ID card, driving license, or other government-issued ID. 

    • Proof of Address – Proof of residence/address document must be issued in the name of the account holder within the last 3 months and must contain a trader’s full name, current residential address, issue date, and issuing authority.

  5. Once this step is complete, traders can fund their accounts and begin trading.    

Overall, Weltrade’s account-opening process is fully digital and hassle-free and accounts are generally ready for trading immediately.  

Weltrade’s Trading Accounts

Weltrade offers five live accounts, which are suitable for both beginners and more experienced traders.

AN STP broker, Weltrade offers trading on multiple financial assets, including Forex, metals, commodities, and cryptocurrencies (for more on Weltrade’s tradable assets, click here). 

Weltrade offers full support for both the MT4 and MT5 platforms on three live commission-free accounts, a commission-based copy trading account, and a digital currency account for trading cryptocurrencies.  Higher minimum deposits are linked to tighter spreads and faster execution speeds.  

Weltrade’s entry-level account requires a minimum deposit of 25 USD and offers trading in micro-lots, making it suitable for beginner traders.  We define beginner traders as inexperienced traders who have never traded before or have been trading for less than a year. Beginners often do not want to risk trading large sums of money, and will generally not be able to trade full-time during the workweek.  Weltrade also offers a beginner-friendly copy trading account – the Zulutrade Account with a minimum deposit of 200 USD.  However, spreads are wide – up to 2.9 pips on the EUR/USD, and a commission of 1.5 points is charged. 

Experienced traders often prefer paying a higher minimum deposit for tighter spreads. Weltrade’s Pro Account requires a minimum starting deposit of 500 USD, but offers tighter spreads than on the Micro, Premium, and Zulutrade Accounts.  

The Micro, Premium, and Pro accounts feature maximum leverage of up to 1000:1, while the Zulutrade account features leverage of up to 500:1, and the Digital account, up to 20:1.  Weltrade allows hedging, scalping, and copy trading, and offers Islamic accounts on request.

See below for details:

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Account Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Digital
USD 50
20:1
0.0
Spread Only
Account Details
Micro
USD 25
1000:1
1.50
Spread Only
Account Details
Premium
USD 200
1000:1
1.50
Spread Only
Account Details
Pro
USD 500
1000:1
0.50
Spread Only
Account Details
ZuluTrade
USD 200
500:1
2.90
1.5 pips
Account Details

Micro Account

Micro accounts are beginner-friendly training accounts with a minimum deposit of 25 USD, denominated in USD and EUR cents.   Leverage is up to 1000:1, variable spreads start at 1.50 pips, and it is commission-free.  Full support is offered for the MT4 and MT5 platforms, and trading is available on Forex and Metals.  However, the maximum trading equity is 1000 USD.  Additionally, the average execution speed is 0.9 seconds.  

Premium Account

The minimum deposit on the Premium Account is 200 USD; accounts are commission-free and denominated in USD and EUR.  Leverage is high, up to 1000:1, spreads start at 1.5 pips, and trading is available on Forex, Metals, and Commodities.  There is no maximum trading volume and the average execution speed is 0.8 seconds.

Pro Account

The minimum deposit on the Pro account is 500 USD.  Variable spreads start at 0.50 pips, leverage is up to 1000:1 and accounts are only denominated in USD.  Pro accounts are commission-free and offer support for both the MT4 and MT5 platforms.  The average execution speed on the account is 0.5 seconds.

ZuluTrade Account

The ZuluTrade account is an ECN account, popular for copy trading.  The minimum deposit on this account is 200 USD, accounts are denominated in USD only, and variable spreads start at 2.90 pips, which is wider than other similar brokers.  Leverage is slightly lower on this account – up to 500:1, while a commission of 1.5 pips/lot is charged.  Trading is only available on the MT4 platform and offers trading on Forex, Metals, and Commodities.  The average execution speed on this account is 0.7 seconds.    

Digital Accounts

Digital accounts are commission-free accounts that only allow for trading on cryptocurrencies.  The minimum deposit is 50 USD and spreads start at 0 pips, although it should be noted that cryptocurrencies are highly volatile assets, and that spreads fluctuate depending on trading volume and market conditions.  The maximum leverage on this account is 20:1, which is higher than the leverage at other brokers and full support for the MT4 and MT5 platforms is offered.  The average execution speed on this account is 0.7 seconds.

Weltrade Accounts

Demo Accounts

Users can open a training account loaded with 100,000 USD  in virtual cash to make real-time transactions and refine a strategy. Demo accounts at Weltrade don’t expire, and there’s no monetary risk involved, so users have peace of mind when browsing the platforms. The broker also regularly runs demo account contests, such as the Hot 100 and Hot 200, with prizes up for grabs.

Deposits and Withdrawals

Weltrade offers a range of payment methods, and while deposits are free, withdrawals are expensive. 

Although Weltrade is unregulated, it claims that all Anti-Money Laundering rules and regulations are followed.  Deposits can only be made using a bank account or card registered in the trader’s name, and no third-party deposits are allowed.  Withdrawals must be made to the same account or method that the funds originated.  

Weltrade does not charge deposit fees, but its withdrawal fees are high.  Most deposits are instant, but Weltrade takes 30 minutes to process withdrawals.  Weltrade offers the following methods for deposits and withdrawals:

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Funding Method
Base Currency
Deposit Fees
Withdrawal Fees
Processing Time
Bank Transfer
IDR
According to tariff's of the sender's bank
None
Deposits are processed within 24 hours, withdrawals are processed within 30 minutes.
Bitcoin
BTC
According to the network tariff
BTC 1% (min 0.0003 BTC)
Deposits are processed instantly, withdrawals are processed within 30 minutes.
Ethereum
ETH
According to the network tariff
ETH 1% (min 0.01 ETH)
Deposits are processed instantly, withdrawals are processed within 30 minutes.
Fasapay
USD, IDR
None
0.5% (min 0.01 USD, max 5 USD)
Deposits are processed instantly, withdrawals are processed within 30 minutes.
Mastercard
USD, EUR, RUB
None
1.2% + 3 USD/1.2% +2.7 EUR/1.9% (min 50 RUB)
Deposits are processed instantly, withdrawals are processed within 30 minutes.
Neteller
USD, EUR, RUB
None
2% (min 1 USD)
Deposits are processed instantly, withdrawals are processed within 30 minutes.
PerfectMoney
USD, EUR
None
0.5%
Deposits are processed instantly, withdrawals are processed within 30 minutes.
Skrill
USD
None
1%
Deposits are processed instantly, withdrawals are processed within 30 minutes.
Visa
USD, EUR, RUB
None
1.2% + 3 USD/1.2% +2.7 EUR/1.9% (min 50 RUB)
Deposits are processed instantly, withdrawals are processed within 30 minutes.
  • Visa/Mastercard – Deposits are instant and free. Weltrade charges a service fee of 1.2% + 3 USD per transaction for withdrawals. 
  • Local Bank Transfers (Indonesia only) – Deposits are instant, and only bank charges apply. Withdrawals are free but may 30 minutes to be processed.
  • Skrill – Deposits are instant and free. Weltrade charges a withdrawal fee of 1% per transaction.
  • Neteller – Deposits are instant and free.  Weltrade charges a withdrawal fee of 2% per transaction.
  • Perfect Money – Deposits are instant and free. Weltrade charges a withdrawal fee of 0.5% per transaction.
  • Cryptocurrencies (BTC, ETH, LTC, XRP, EOS) – Deposits are instant but are charged according to the network tariff.  A withdrawal fee of 1% is charged per transaction. 
  • Local Wallets (Fasapay, Wallet One, Web Money, Qiwi Wallet) – Deposits are free and instant.  Withdrawals are charged at between 0.5% and 1% depending on the method.

Bonus Structure

Weltrade has a diverse range of active deals and promotions, including prize draws for cash rewards, MT5 100% on-deposit bonuses, demo contests, spinners, and puzzle games. Always check a promotion’s terms and conditions before participating.

Weltrade Bonuses

Base Currencies

Weltrade offers a limited number of base (trading account) currencies compared to other similar brokers.

Weltrade only offers two base currencies, including EUR and USD, which is limited compared to other brokers.  However, the base currencies vary depending on the trading account.  For example, the Pro, Zulutrade, and Digital accounts only allow accounts to be denominated in USD. Additionally, Weltrade does not offer ZAR trading accounts, which is a disadvantage for South Africans who will likely have bank accounts denominated in ZAR, and who will have to pay currency conversion fees on deposits and withdrawals.

For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with a ZAR account, there will be a small conversion fee for every trade made.

Overall, Weltrade offers fewer trading account currencies than most other large international brokers and doesn’t offer accounts denominated in ZAR. 

Trading Platforms

Weltrade’s platform support is average compared to other similar brokers.

Weltrade offers support for the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.  As the most widely used platforms on the market, they are simple to navigate yet offer a powerful range of features, charts, and analysis tools.

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Broker
Platform Choice
Copy Trading
Platforms
Weltrade
11110.54.5/ 5
FXTM
11110.54.5/ 5
BDSwiss
11110.54.5/ 5

MetaTrader 4

MetaTrader 4 is one of the world’s most popular and versatile platforms, offering powerful features to help you make educated trading decisions. Though it is now showing its age, MT4 is still popular for its auto trading features that enable algorithmic trading and strategy backtesting with expert advisors (trading robots). 

Other features of the MT4 include:

  • A built-in library of more than 50 indicators and tools to streamline the analysis process.
  • An impressive array of analytical tools, available in nine timeframes for each financial instrument.
  • Live price streaming on live accounts and demo accounts 128-bits encryption for secure trading
  • Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
  • Customisable alerts
  • Access to MetaTrader market and MQL4 community

NAGA MT4

MetaTrader 5

MetaTrader 5 is the latest trading platform developed by MetaQuotes Software Corp. Set to replace MT4, MT5 is more intuitive and offers significant improvements in copy trading, mobile trading, and other innovative features that make trading account management more efficient. 

Other features of MT5 include:

  • 38+ preinstalled technical indicators
  • 44 analytical charting tools
  • 3 chart types
  • 21 timeframes
  • Additional pending order types
  • Detachable charts
  • Trailing stop
  • Depth of Market
  • An integrated Economic Calendar

JustForex MT5

Overall, although Weltrade only offers the Metatrader suite of platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, MT4 and MT5 are considered some of the best third-party platforms in the industry.

Weltrade’s Mobile Apps

Weltrade’s mobile trading platforms are average compared to other similar brokers.

MetaTrader4 (MT4) and Metatrader 5 (MT5) are available on IOS, Android, and Windows mobile phones and tablets. The app will connect to the same account as the desktop software, allowing a synchronised and mobile trading experience.

However, traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.  

Weltrade’s Trading Tools

Weltrade’s trading tools are limited compared to other similar brokers.

Weltrade’s trading tools are limited to a number of autotrading tools available on the Metatrader platforms. 

MQL5 Signals

Traders can subscribe to the MQL5 Signals through the MT5 platform.  Signals is a copy-trading service allowing you to automatically copy provider’s deals on your trading account. Weltrade also offers a range of tutorials so that traders can familiarise themselves with how to activate the services.

Zulutrade Signals

Zulutrade is a third-party service provider that allows traders to copy the signals of more experienced traders and earn a profit.  In order to make use of Weltrade’s Zulutrade copy trading service, traders must:

  • Open a Zulutrade Account and make a deposit of at least 200 USD.
  • Connect to the system by entering the account number and trading password in the Settings section of the ZuluTrade personal area.
  • Connect to the best providers. Orders will be executed automatically.

Note that a spread mark-up of 2.9 pips (EUR/USD) in addition to a trading commission of 1.5 pips will be applied to every trade.  This is relatively expensive (and amounts to around 45 USD per trade), so traders should be aware of these costs before opening a Zulutrade Account.   

Weltrade also offers a host of robots and indicators through the MT4 and MT5 platforms, some of which are free, and others that are available at an extra cost.  

Overall, Weltrade’s trading tools are somewhat limited compared to other brokers, and it would do well to add more technical and fundamental analysis tools to its offering.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Weltrade
FXTM
BDSwiss

Weltrade’s Financial Instruments

Weltrade’s financial instruments are severely limited compared to other brokers. 

Weltrade offers trading on Forex, commodities, and metals (click here for more on CFD trading).

  • Forex: Weltrade has only 37 currency pairs available for trading, a limited range compared to other brokers.  These include majors (EUR/USD, GBP/USD, and NZD/USD), minors (EUR/AUD, CAD/CHF, and CAD/JPY), and exotics.

  • Commodities: Weltrade offers trading on two commodities, which is less than what is available at other brokers.  Most brokers offer between 5 and 10 commodities. Commodities include energies such as oil and natural gas.  

  • Metals: Weltrade offers trading on 4 metal crosses, which is around the average offered at other brokers.  These include silver, gold, palladium, and platinum.  

  • Cryptocurrencies: Weltrade offers trading on 15 crypto pairs, a larger range than is typically available at other brokers.  These include Bitcoin, Ethereum, Litecoin, and Ripple, among others.  Cryptocurrencies are extremely volatile instruments, so traders should be aware when trading with leverage. 

Overall, the financial assets on offer at Weltrade are the bare minimum and may leave more professional traders dissatisfied.  

Weltrade for Beginners

Weltrade has a minimal selection of educational materials and offers virtually no market analysis. Still, it offers unlimited demo accounts, and customer service support is available 24/7 for all client-related and technical queries. 

Educational Materials

Weltrade’s educational materials are extremely limited compared to what’s available at other similar brokers.  

Weltrade does not offer any written educational materials; however, beginner traders can benefit from its seminars and webinars. One has to register an account to access this material.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Weltrade
Low
FXTM
High
BDSwiss
High

 

Market Analysis Material

Weltrade offers no market analysis materials, forcing traders to seek other thrid-party sources.  

Weltrade has virtually no market analysis materials, except for a basic Economic Calendar.

Customer Support

Weltrade offers support in ten different languages, and help is available 24/7 via telephone, email, and live chat.  Weltrade also offers a call-back option. 

For the purposes of this review, we found the customer support responsive and polite, but uninformed.

Weltrade Customer support

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of how we review Weltrade’s product offering. Central to that process is the evaluation of the broker’s reliability, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Weltrade would like you to know that: The Client understands that the risk of suffering trading losses may be quite significant. The Client should analyze his financial capabilities before engaging in trading operations. The Client agrees that the Company cannot be held responsible for the Client’s losses caused, directly or indirectly, by the government restrictions, restrictions of foreign exchange or market rules, suspension of trading, military operations, or other conditions usually called the ‘force majeure circumstances’ which lie beyond the Company’s control. The Client bears full responsibility for the risks associated with the storage of trading account access data, and must ensure that third parties cannot access the trade terminals. The Client’s losses and risks associated with the restoration of access to the trading account place no obligations on the Company, other than to provide new access data to the Client upon sufficient and unambiguous identification of the Client as the holder of this account.

Overview

An STP broker, Weltrade offers a range of accounts with higher minimum deposits linked to tighter spreads and better trading conditions. However, trading conditions are generally poor compared to other brokers, with spreads of 1.50 pips on its entry-level accounts.  Trading conditions improve on the Pro account, with spreads of 0.5 pips (EUR/USD), but this is in exchange for a minimum deposit requirement of 500 USD.  Support is offered for the MT4 and MT5 platforms, but the range of financial instruments available is severely limited compared to other brokers.  Another major drawback for traders considering Weltrade is that it is essentially unregulated.

AlertAccepts South African Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT5 platform supported.TradeForexSA does NOT recommend Weltrade due to insufficient regulation. We suggest you continue your search using our approved brokers list.
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