WELTRADE

WELTRADE was founded in Belarus in 2006 as Systemforex, the company achieved a series of milestones and rebranded to WELTRADE in 2012. Today, it has offices in Ukraine, Thailand, Indonesia, Vietnam, Kazakhstan, Laos, Malaysia, Russia, Colombia, Chile, Peru, Mexico, Argentina, China, Cambodia, and St. Vincent, and the Grenadines.

WELTRADE offers its clients access to trade multiple forex and CFD instruments via the powerful MetaTrader platforms. Social trading, trading tools as well as several promotions are available to support the trader. The broker was honored with the award of ‘one of the most trusted forex brokers in Asia’. This is in addition to other awards received over the years.

WELTRADE is proud to announce that as of December 2020, it has over 500,000 satisfied clients resident in over 180 countries around the world.

Regulation and Security

The trading name; WELTRADE is owned and operated by ‘Systemgates Ltd’ which is a company incorporated and registered in St. Vincent and the Grenadines.

WELTRADE did not provide any regulatory or client security information on its website. However, Secured Socket Layer (SSL) technology is used to protect clients’ data on the website and platforms.

Trading Instruments

The assets index of WELTRADE consists of the following instruments:

• 47 currency pairs
• 4 Metals
• 2 Metals

Account opening

Opening a new account with WELTRADE is fast and easy. On the website, click on ‘Registration’ and fill out the form that will be displayed. You may click on ‘Registration via Google’ or ‘Registration via Facebook’ to import your profile from any of these websites if you already have accounts with them. Else, complete the registration form by entering your name, email, and phone number. Then, click on ‘Sign up.

A 4-digit confirmation code will be sent to your email, enter it into the space provided to confirm your email. Upon successful confirmation, you will be required to provide more information like date of birth, etc. Your account will be opened and you are logged into the WELTRADE cabinet. Next, you can make a deposit, download a MetaTrader platform and it is time to begin your trading journey with WELTRADE.

Fees and account types

WELTRADE offers several account types in an attempt to satisfy the need of all traders bearing in mind that choices, trading styles, and trading experiences vary. All spreads are floating and market execution applies. Clients can trade on either the MT4 or MT5 platforms except for the ZuluTrade account which is exclusive to the MT4 platform. Below are the available account types:

Micro account

Designed for beginners, the minimum deposit is $25 while the maximum equity is $1,000. This account is denominated in USD or EUR cents. Leverage ranges from 1:33 to 1:1000 while spreads start from 1.5 pips; no commissions are charged. Only forex and metals can be traded from this account.

Premium account

This account is for traders who have passed the testing stage and wish to commence real trading. The floating spreads start from 1.5 pips with no commissions. Leverage is 1:33 – 1:1000 and there are no commissions.

Pro account

WELTRADE states that this account is the best choice for most traders. The minimum balance is $500 and the leverage range is 1:1 – 1:1000. The spreads start from 0.5 pips and there are no commissions.

ZuluTrade account

At least $200 is required to open a ZuluTrade account. The spreads start from 2.9 pips and the leverage range is 1:33 – 1:500. The commission is about 1.5 points.

Digital account

The minimum deposit is $50. Leverage is from 1:3 to 1:20 and there are no commissions. The floating spreads start from 0.0 pips.

Islamic account

On request, swap free account is available for only the Muslim faithful.

Demo account

WELTRADE offers a practice account that is not only useful for practicing and strategy testing but also needed in demo contests where demo traders win real money. You can create a demo account in your personal area with virtual funds up to $5,000,000 and leverage up to 1:1000.

WELTRADE Trading platforms

MetaTrader (MT4)

This is a third-party platform developed in 2005 by MetaQuotes Software Corporation. The fintech firm is based in Cyprus. In 2010, they released the MT5 possibly to replace the MT4 but both platforms are not compatible, hence WELTRADE offers both of them to its clients.

MT4 has 3 execution modes, 3 chart styles, and 9 timeframes. Though it is preloaded with 30 inbuilt technical indicators, there are over 2,000 indicators that can be added to it through plugin apps. Also, more than 1,700 expert advisors (EAs) or trading robots are already available for the MT4. It can be downloaded as a windows desktop application and also mobile apps for iOS and Android devices. It is also available as WebTrader.

MT5

Just like MT4, the MT5 platform comes with tools for technical analysis, order management, and automated trading. There are over 2,500 existing plugin applications that can be used to expand its capabilities and features. Also, a trader can easily automate his own strategies and build his own trading robot via the MQL5 programming code. The MT5 comes with all the features available in the MT4 and even more. For example, it has 5 execution modes, 38 inbuilt technical indicators, 44 drawing tools, 6 pending orders, and 3 chart styles which can be viewed in 21-time frames. Furthermore, just like the MT4 trading platform, the MT5 is available on windows desktops, online WebTrader, and on android and iOS devices.

Deposit and Withdrawals

WELTRADE affirms that it accepts deposits through over 30 different methods. Typically, the broker charges no fees except when the fee from the payment processor is transferred to the client. Below are the acceptable payment options:

Bank transfer

Local bank transfer is available for Indonesian clients. WELTRADE will not charge any commissions but the client’s bank may. Local transfers are processed within 24 hours. Wire transfers are done to and from any bank in the world. It takes 3-5 days to process an international bank wire transfer.

Online payments

The accepted options are Skrill, Neteller, WebMoney, Wallet one, Perfect Money, and FasaPay. Deposit is free but withdrawals are charged as follows: Skrill is 1%; Neteller is 2% with a minimum of $1, 0.8% for WebMoney, 0.5% for Perfect Money, and FasaPay. Most deposits and withdrawals are processed before 24 hours.

Cryptocurrencies

Bitcoin, Ethereum, and Litecoin can be used to fund WELTRADE accounts and also used for withdrawals. Network transfer fees apply; 1% is charged for withdrawals with a minimum of 0.0003 for BTC, 0.01 for ETH, and 0.01 for LTC.

Credit and debit cards

Visa and MasterCard are the listed cards for deposits and withdrawals. Card payments are accepted in USD, EUR, and RUB. Deposits made with cards are processed immediately without charges but withdrawals are charged according to currencies; 1.2% + $3, 1.2% + €2.7, and 1.9% (minimum of 50 RUB) for USD, EUR and RUB respectively.

Research and tools

ZuluTrade

This is one of the world’s most renowned social trading platforms where millions of investors automatically copy the trades of expert traders who register as signal providers. WELTRADE specifically designed the ‘ZuluTrade account’ for its clients who wish to partake in ZuluTrade social trading. So, after creating the account, log in to ‘weltrade.zulutrade.com’, find the best signal providers, and copy their trades automatically. You can monitor your account performance and make adjustments if you wish.

Forex Calculator

This is a tool that the trader uses to estimate his trading costs, profits or losses before opening a position. It calculates the contract size, swap fees, margin, etc.

Economic Calendar

This calendar can be customized to display the dates, region, time zone, etc that is preferable by the trader. The economic calendar is a fundamental analysis tool that shows the time when important events will occur. These events are historically tracked and are known to affect the financial markets. So, the calendar shows the date and time of an event as well as its historical and forecasted impacts on a currency or asset, as well as its impact level.

Education

MetaTrader Guide

This is an interactive pictorial guide on ’10 simple steps to start trading. Just move the mouse button over the labeled picture to read the instructions on how to use the MetaTrader interface.

Training and seminars

Interested clients can fill out the short form to subscribe and learn about upcoming seminars when they are scheduled.

Bonus and Promotions

WTCoin

This is a digital currency that is earned by completing tasks and can be exchanged for tradable cash bonuses. For this promo, a participant is expected to complete some tasks and get rewarded with WTCoins. The exchange rate of the coins depends on the number of completed tasks. If the participant completes all 15 tasks, the prize will be the 225 WTCoins which can be exchanged for bonuses worth $3,375. But, the participant may choose to exchange the WTCoins anytime before completing the tasks and the exchange will be done at lower rates.

Trade2win draws

To participate in this promo, a trader is expected to trade 15 standard lots within the promo period which is usually monthly. 50 winners are selected at random to share in the pool of $50,000. The first prize wins $15,000; the second prize is $10,000; the third prize is $7,000, the 4th – 5th positions get $1,000; the 6^th to 20^th positions get $500, 21^st to 30^th positions get $350 while 31^st to 50^th positions get $250.

15-year demo contest

To commemorate its 15^th anniversary, WELTRADE has packaged a contest to run for 15 weeks from 2^nd August to 14^th November 2021. The contest is open to demo account holders and it has 15 stages lasting one week per stage. Every Sunday, the contestants with the highest account balances will win prizes. A total of $150,000 will be shared between 1,500 participants with the highest account balances. Trading is done every day on the demo account including weekends.

World Partner contest 2021

This is a contest for partners all over the world. When partners bring in new clients that will register, make deposits, and trade; they stand a chance of winning the prize money of $50,000. This is to be won by 40 partners; the contest lasts a period of 3 months.

iPhone 12 Prom Max

If you can trade 300 lots from 8^th march to 31^st Dec. 2021 you may stand a chance of winning the 128GB iPhone or cash equivalent of $1,400 in your trading account.

Astrocards

This promo is only for MT5 account holders. The trader gets an ASTROCARDS round when a deposit of $50 to $1,000 is made to his trading account. When a round starts $50 is deducted and the trader is presented with 5 cards to select 3. The face values of the cards are added and the total is credited to the trader’s account as a bonus. Traders stand a chance of winning a $1,000 bonus for each round.

Spinner

Make a deposit into your MT5 account and get spins at $30 per spin. For example; you will get 10 spins if you make a deposit of $300. From the spinner, you can win from $5 to $1,000 in bonus credits when you click on ‘spin’ at the center of the online Spinner.

100% Bonus

MT5 account holders can deposit at least $200 and get a 100% deposit bonus capped at $10,000. With this bonus, the trader can open more positions and possibly make more profits.

Cash Puzzle

Every day on the website, traders stand a chance of winning up to $15,000 by completing 5 tasks presented as a puzzle.

Summary

WELTRADE is a broker that offers forex and CFDs to traders from all over the world. It is registered in St. Vincent and the Grenadines but has offices in 15 locations across the world. The MT4 and MT5 are the platforms available for all trading activities. Several account types are provided for all traders including micro accounts for beginners and demo accounts for practice purposes. Investors can take advantage of ZuluTrade social trading. Traders are rewarded with multiple bonuses and promotions.

But, one of the greatest problems with WELTRADE services is its regulatory status. Most professional traders and analysts advise against trading with offshore traders because most of them are scammers. Also, there are no training resources, market news, analysis, or trading insights.  

Conclusively, since its 15 years of operation, WELTRADE has been expanding its services and maintaining an army of satisfied clients. We just hope that it will become tier1 regulated, improve its assets index and employ an expert team to provide training resources and daily analysis to its global clientele.