WELTRADE, established in 2006, is a forex broker headquartered in Kingston. The platform offers a range of financial derivative trading options aimed at creating a transparent and efficient trading environment for clients worldwide. WELTRADE is dedicated to assisting investors in navigating and optimizing their investment portfolios in the global financial markets.
Corporate Background
As a forex broker, WELTRADE's domain was registered on May 5, 2004. WELTRADE is a registered trademark of Systemgates Ltd, a company established on February 6, 2018, with its registered address at unit Suite 305, Griffith Corporate Centre, PO BOX 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines.
Its subsidiary, Systemgates LTD, is based in Saint Lucia with registration number NO. 2023-00055; Sofiante LP is located in the Republic of Ireland, with registration number LP1881; Systemgates Limited is in the Maldives, with company registration number 111207; Weltrade SA (PTY) LTD is in the Republic of South Africa, with registration number 2019/334947/07.
Regulatory Information
WELTRADE is regulated by the South African Financial Sector Conduct Authority (FSCA), however, the South African FSCA license number (50691) it holds is not a forex license, indicating an operation beyond its regulated scope.
Trading Products
WELTRADE offers trading products such as forex, metals, indices, commodities, cryptocurrencies, and stocks.
- Forex: The forex market is the largest financial market globally, involving the trading of currency pairs, such as the US dollar against the euro (USD/EUR). This 24-hour market allows investors to profit from fluctuations in currency prices. Participants include central banks, financial institutions, and individual investors.
- Metals: Metal trading in the financial market includes precious metals (such as gold, silver) and base metals (such as copper, aluminum). These metals can be traded on the spot market or through futures contracts, often used as tools for inflation hedging or investment diversification.
- Indices: An index is a tool used to measure the performance of specific markets, industries, or asset classes. Common indices include stock market indices (such as the S&P 500), commodity market indices (such as the Dow Jones Commodity Index), and bond market indices (such as the US Treasury Index).
- Commodities: Commodities refer to tradeable physical goods, such as energy products (crude oil, natural gas), agricultural products (grains, cotton), metals (gold, copper), etc. The commodities market is often influenced by supply and demand relationships, geopolitical factors, and seasonality.
- Cryptocurrencies: Cryptocurrencies are digital or virtual currencies that use cryptography for security and currency issuance control. Examples include Bitcoin, Ethereum, and Litecoin. The cryptocurrency market is relatively new, with significant price volatility but has attracted a large number of investors.
- Stocks: Stocks represent ownership in a company, meaning that holding stocks is equivalent to owning a part of the company. The stock market is where company stocks are traded, allowing investors to share in the company's profits and growth.
Trading Software
WELTRADE primarily offers two trading software options to its users: MetaTrader4 and MetaTrader5.
MetaTrader 4 (MT4), launched in 2005, is the first forex trading platform and is popular among forex traders and investors. It offers powerful trading features and analytical tools, including chart analysis, technical indicators, drawing tools, and automated trading functions. MT4 has a simple and intuitive interface, suitable for traders of all levels, including beginners and experienced traders.
MetaTrader 5 (MT5), an upgraded version of MT4, was released in 2010. Compared to MT4, MT5 offers faster execution speed and better performance. MT5 supports not only forex trading but also stocks, futures, and options, making it more popular among diversified investors. Moreover, MT5 enhances charting and analytical tools, provides more technical indicators and graphical objects, and offers more flexible order types and execution modes.
Overall, MT4 and MT5 are popular forex trading platforms with slight differences in functionality and performance. Users can choose the platform that best fits their needs and preferences.
Account Registration
The WELTRADE official website provides a live account registration link, with the following registration method:
First, open the WELTRADE official website and click "REGISTRATION" at the top right corner of the homepage.
Then, follow the steps to fill in the information (such as email, password, etc.) to complete the account registration.
Account Types
WELTRADE offers four types of accounts: Micro, Pro, Premium, SyntX. Micro and SyntX require a minimum deposit of 1USD, while Pro and Premium require 100USD and 25USD, respectively; Micro and Premium start from a spread of 1.5, Pro from 0.5, and SyntX from 0.0. Moreover, the maximum leverage for Micro, Pro, and Premium is 1:1000, while for SyntX, it is 1:10000.
Deposit and Withdrawal Methods
WELTRADE offers clients various deposit and withdrawal methods, including Visa, Mastercard, Skrill, NETELLER, CRYPTO, Perfect Money, and FasaPay, to facilitate a seamless fund management experience through suitable payment options.
Customer Support
WELTRADE supports multiple contact methods, including phone support, email support, and online chat. Traders can contact the customer support team directly and immediately via the phone number +44-20-34116458. Investors can also send questions or requests to info@weltrade.com.
Summary
WELTRADE is a forex broker with insufficient regulatory supervision. Although it is regulated by the South African Financial Sector Conduct Authority (FSCA), its regulatory license does not cover the forex trading domain, meaning the forex and related services it offers are not adequately supervised. Additionally, the broker's maximum leverage reaches up to 1:10000, which significantly increases the riskiness of trading.
Currently, WELTRADE has been marked as "Suspected Fraud" on TraderKnows.
