Weltrade

Weltrade is an unregulated forex and CFD broker that operates from its registered office in Saint Vincent and the Grenadines. According to company records, the brokerage was founded on 12 December 2017, but its website claims a history dating back to 2006. It offers trading services to retail clients worldwide through the MetaTrader 4 and MetaTrader 5 platforms.

Despite the absence of regulation from a major financial authority, Weltrade has built a significant online presence and claims over 1,000,000 registered traders and 10,000 partners in more than 40 countries. The broker operates solely from the Caribbean jurisdiction, which does not mandate forex broker licensing or oversight.

As confirmed by our records, Weltrade holds no licence from any global financial regulator. The company is incorporated in Saint Vincent and the Grenadines, a jurisdiction that does not regulate financial services firms or require them to adhere to international standards. This lack of oversight means clients have no recourse to a compensation scheme or ombudsman in case of disputes.

The FXCanary Scam Risk Score of 75/100 (Severe) reflects the high risk associated with unregulated brokers. Traders should be aware that funds deposited with Weltrade are not protected by any investor compensation fund, and the broker is not subject to mandatory capital requirements or auditing by a recognised body.

Weltrade provides several account types to cater to different trading preferences. The account tiers include Micro, Digital, ZuluTrade, Pro, and Premium, with varying minimum deposits and leverage conditions. The Micro account requires a minimum deposit of 25 USD and offers leverage up to 1:1000.

The Digital account starts at 50 USD with a lower leverage cap of 1:20. ZuluTrade and Premium accounts both require 200 USD, with leverage up to 1:500 and 1:1000 respectively. The Pro account has a 500 USD minimum deposit and offers leverage up to 1:1000.

According to the broker's website, additional account types such as Universe, Raw Spread, and SyntX are also available, with floating leverage up to 1:2000 and spreads from 1.5 pips. These accounts support trading in forex, metals, commodities, indices, and digital currencies.

Weltrade offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely used platforms in the retail trading industry. MT4 is known for its user-friendly interface, automated trading capabilities through Expert Advisors, and extensive library of indicators. MT5 provides additional features such as advanced charting tools, market depth, and a built-in economic calendar.

The broker also provides proprietary trading tools and calculators on its website, as well as market signals and volatility indicators. These tools are aimed at helping traders analyse the markets and make informed decisions.

Weltrade advertises over 30 payment methods for deposits and withdrawals, with zero commission on deposits. The broker supports local payment preferences and claims quick processing times for withdrawals. According to its website, clients can use bank transfers, credit/debit cards, e-wallets, and other local payment systems.

No specific details about withdrawal fees or processing times are provided on the site, but the broker emphasises ease of funding and fund management. Clients are encouraged to contact support for any issues, which is available 24/7 in multiple languages.

The broker appears to target a broad audience, from beginners to experienced traders, by offering a range of account types with different features. The Micro account is designed for those with limited capital who want to start trading with a low minimum deposit. The higher-tier accounts like Pro and Premium are for more active traders seeking higher leverage and potentially lower spreads.

Weltrade also markets a loyalty programme and bonuses to attract and retain clients. However, due to its unregulated status, it is generally not suitable for risk-averse traders or those who require regulatory protection. Traders in jurisdictions with strict regulations may also find that Weltrade does not accept clients from their country.