WELTRADE is a company comprised of a relatively small team of 65 professionals who, with their international experience in internet technologies and finance, provide customers with forex market services. The company prides itself on communication and quality services tailored for individuals across the globe. They have been operational since 2006 where they started out with the name SystemForex.
Systemgates Capital Ltd owns the company which holds a license to undertake financial trading, commodity, securities among others under the International Financial Services Commission (IFSC) organization based in Belize. It is worth noting that Belize is a common haven for brokers due to its lax regulations with regards to brokerage licensing and ease of doing business. Unlike the UK, US or Cyprus regulatory bodies, self-regulation is encouraged.
WELTRADE works with about 100 000 traders across 18 countries that include Belarus, Colombia, Malaysia, Russia, Thailand and Ukraine where they have representative offices of the ten they have. The regions represented are Africa, Asia, Europe and Latin America. It is in these regions that the company also has 354 partners. They have also won awards such as the 2017 Chine Forex Choice award for Best Customer Service and a similar prize for the Global Market Review award in 2014.
Operating as an offshore, WELTRADE offers trading options that include CFDs, various currencies, and precious metals. Transactions take place through their MetaTrader 4 platform, one commonly used by other brokers in the industry. There are 16 different ways to transact with WELTRADE. There is Visa, MasterCard, Perfect Money, Skrill, Yandex and Neteller with all deposit methods being free of charge. Depending on the platform, there is a withdrawal fee of between 0.5 and 3 percent with an average withdrawal term of 30 minutes.
There are six different accounts that a person can open to begin transacting with different minimum deposits. They are Micro ($25), Premium ($200), Pro ($500), Zulu Trade ($100), Crypto ($15) and Crypto Wars ($400). They all have varying leverage and stop out levels. For the first three accounts, there is the option of using the MetaTrader 5 platform which does not have multi-terminal programming but offers Windows, iOS, Android, and web platform systems.
There are also items people, depending on their account cannot trade on. With the crypto accounts, one cannot trade on Forex, metals, commodities, and CFDs on the index but only on CFDs on crypto instruments. The Pro account is the one that offers more trading options than other accounts. It also has the leverage of 1:11 1:1000 and is commission-free.
Before committing to open a trading account with the company, one can use the Demo account that starts you off with $100, 000. With it, you don’t have to deposit to transact but can test out and optimize various trading strategies with a leverage of up to 1:1000. Once a person is confident about their trading capabilities, they can settle for an account.
There are also various offerings, the first to become a partner and the other is to participate in trader contests. For the partnership program, there are several opportunities in play. One gains transparent performance results, statistics and analytics, a referral link, an economic calendar, rebate service and flash and GIF banners. Partners fall under various categories, including those running rebate services, business person, advisers, bloggers, webmasters, and analysts. The trader contest requires one to open the Crypto Wars account to participate.
Overall, the website is friendly and easy to use and comes with an option of downloading the app for added trading convenience. There are various resources pertinent to trading also offered for the user’s convenience and additional industry knowledge. There are equally seven languages with which one can view the site.
- WELTRADE is an established company with 11 years of operations
- Withdrawal terms are short
- One can trade in cryptocurrency
- The company offers various trading accounts to choose from
- Holds trader contests for their users
- Offer notable customer service
- The IFSC do not provide stringent enough regulations
- Is an offshore broker
While it appears that the company has in the past decade established a name for themselves in the industry, there are still questions about their legitimacy. The website, overall, shows the marks of a seasoned trader offering aspects that new or scam brokers sites are not likely to offer. They also provide extensive services, meaning that you can engage with them on more than one level of trading.
It is the number of countries they operate in that could perhaps give a trader the confidence to want to open a trading account with WELTRADE. Despite their lack of regulation by elite regulatory groups, their partnerships with various entities in the 18 countries show that they have an aspect of self-regulation that serves both the company and the users.