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eToro , WELTRADE Broker Comparison

Do you want to know which is the better broker between eToro and WELTRADE ?

In the table below, you can compare the features of eToro , WELTRADE side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
eToro
7.53
Regulated
Under guarantee
10-15 years
ASIC,CYSEC,FCA,FSC
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
WELTRADE
5.74
Regulated
Under guarantee
15-20 years
NBRB,FSC,FSCA
Skrill,VISA/MASTERCARD,Neteller,IDLB,FASAPAY,DIGITAL,PerfectMoney
C
D
837.2
531
531
578
1906
1891
1906
A

EURUSD: 0.1

XAUUSD: 0.2

29
-5
29
A
18.51 USD/Lot
--
D

Long: -7.5

Short: 1

Long: -44

Short: -30

AA
0.3
40.4
Pro,Premium,Micro
--
100 USD
1:1000
from 0.5
10.00
Floating
0.01
--

eToro 、 WELTRADE BrokersRelevant information

eToro 、 WELTRADE BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of etoro, weltrade lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

etoro
eToro Basic Information
Founded in 2007
Headquarters United Kingdom
Regulations CySEC, FCA, ASIC
Tradable Assets Stocks, Cryptocurrencies, Currencies, Commodities, ETFs
Minimum Deposit $10
Trading Fees Commission-free trading, Spreads from 0.75 pips on EUR/USD
Non-Trading Fees Withdrawal fee of $5, Inactivity fee of $10/month after 12 months of inactivity
Leverage Up to 1:30 for retail clients, up to 1:400 for professional clients
Trading Platforms eToro proprietary platform, MetaTrader 4
Mobile Trading Yes, available on iOS and Android
Customer Support 24/5 live chat, email support
Educational Resources Social trading, educational videos, blog articles, eToro Academy
Demo Account Yes, unlimited time
Other Features CopyTrader, Popular Investor Program, eToro Wallet

Overview of eToro

eToro is a multi-asset social trading platform that has gained widespread popularity among investors, traders, and social media enthusiasts since its inception in 2007. It offers users access to a wide range of financial instruments, including stocks, cryptocurrencies, forex, indices, and commodities, among others. The platform provides a user-friendly interface that caters to both novice and experienced traders alike, making it one of the most popular trading platforms on the market.

One of eToro's standout features is its social trading capabilities, which allow users to copy the trades of successful traders and build their investment portfolios. The platform has a large community of traders who share insights, strategies, and knowledge, making it an excellent learning resource for traders looking to improve their skills.

overview

Is eToro legit or a scam?

eToro is a legitimate and regulated online brokerage firm that has been operating since 2007. It is licensed and regulated by several reputable financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). The company is also a member of the Investor Compensation Fund, which provides additional protection for traders' funds. However, as with any investment platform, there are risks involved in trading, and traders should always be aware of the potential risks and take steps to protect their investments.

license
license
license

Pros & Cons

eToro's user-friendly interface, range of trading assets, and social trading features have made it popular among both beginner and experienced traders. However, as with any trading platform, eToro has its pros and cons, which potential users should consider before signing up. In this section, we will discuss the advantages and disadvantages of using eToro as a trading platform.

Pros Cons
User-friendly and easy-to-use platform Higher spreads compared to some other brokers
Regulated by reputable financial authorities Limited range of tradable assets
Copy trading and social trading features Limited research and analysis tools
Wide range of payment methods Inactivity fee charged after 12 months of inactivity
Commission-free trading on stocks and ETFs Withdrawal fee of $5
Demo account available for practice Limited customer support options

Market Instruments

eToro offers a wide range of financial instruments for traders to choose from, covering various markets globally. Traders can access more than 2,400 assets, including popular currencies, commodities, indices, and stocks from exchanges around the world. Furthermore, eToro enables traders to trade cryptocurrency, such as Bitcoin and Ethereum, which has become a popular asset class in recent years due to its high volatility and potential for substantial profits. With this wide range of instruments available, traders can diversify their portfolios and explore various markets to find the best investment opportunities.

market-instruments
Pros Cons
Wide variety of assets including stocks, cryptocurrencies, commodities, forex, and more Limited selection of options and futures contracts
Commission-free trading on most instruments Limited research tools for fundamental analysis
Availability of social trading, allowing for copy trading and following other traders' strategies Limited access to less popular or niche assets
Option to trade fractional shares for stocks, making it accessible to investors with small capital Limited trading hours on certain assets, such as cryptocurrencies
Lack of transparency in pricing structure for some assets

Account Types

eToro provides traders with two primary types of accounts to choose from, namely the Retail and Professional accounts. These account types differ in various aspects, such as trading features, account requirements, leverage limits, and the level of regulatory protection they offer.

eToro's Retail account is suitable for most traders and investors. This account type requires a minimum deposit of $500 and provides access to all eToro's trading instruments, including cryptocurrencies, stocks, ETFs, commodities, and more. Retail account holders can also benefit from eToro's social trading features, which allow users to follow and copy other successful traders on the platform. However, retail account holders are limited to a maximum leverage of 1:30, as per regulatory requirements.

eToro's Professional account is designed for experienced traders who meet certain criteria, such as having a minimum of two years of trading experience and meeting certain financial thresholds. This account type provides access to higher leverage of up to 1:400, and allows users to benefit from reduced margin requirements and negative balance protection. However, professional account holders are not eligible for certain investor protection rights, such as compensation schemes, as they are deemed to have a higher level of trading knowledge and experience.

account-types
Aspects Pros Cons
Account Types Offers both retail and professional accounts Professional accounts require certain qualifications
Minimum Deposit Low minimum deposit requirement for retail account High minimum deposit requirement for professional account
Commission No commission on trades for most assets Higher spreads compared to other brokers
Leverage Up to 1:30 for major currency pairs Limited leverage options for professional accounts
Platform User-friendly platform with social trading features Limited customization options
Customer Support 24/7 customer support in multiple languages Phone support only available during market hours

How to open an account with eToro?

To open an account with eToro, you need to follow these steps:

  • Go to the eToro website and click on the “Join Now” button.

open-account
  • Enter your personal information, including your name, email address, and phone number.

open-account
  • Verify your email address by clicking on the verification link sent to your email. Provide additional information, including your date of birth, address, and tax ID number. Agree to the terms and conditions and submit your application.

  • Wait for eToro to review and approve your account, which usually takes a few minutes to a few business days.

  • After approval, you can fund your account with preferable payment methods and then start your real trading with this broker.

open-account

Demo Account

eToro offers a demo account for traders who want to practice trading strategies without risking real money. The eToro demo account provides $100,000 in virtual money and is valid for an unlimited amount of time, allowing traders to familiarize themselves with the platform and practice their trading skills.

To open a demo account, traders can simply sign up for an eToro account and select the option to use the demo account. It's important to note that the eToro demo account does not require any deposit or funding, making it a risk-free way to test out the platform.

When using the demo account, traders should keep in mind that the virtual money provided is not real, and any profits or losses made are also not real. It's also important to note that while the demo account provides a good introduction to the platform, it may not accurately reflect the actual market conditions and trading experience.

demo-account
demo-account

Leverage

eToro offers leverage for trading various financial instruments. The maximum leverage provided by eToro varies depending on the instrument and the jurisdiction of the client. For example, for major forex pairs, eToro offers leverage up to 1:30 for retail clients and up to 1:400 for professional clients. For commodities such as gold and silver, leverage can be up to 1:20 for retail clients and up to 1:100 for professional clients. For stocks, eToro offers leverage up to 1:5 for both retail and professional clients. It is noted that high leverage can amplify your potential returns, but more importantly, it can increase your risks.

Spreads & Commissions (Trading Fees)

eToro's spreads vary depending on the asset being traded. The platform charges variable spreads, which means that the spread can widen or narrow depending on market conditions. The typical spread for major currency pairs such as EUR/USD and GBP/USD is around 3 pips during normal market conditions. However, this can vary depending on market volatility and liquidity.

For other assets, such as cryptocurrencies and commodities, eToro's spreads are generally higher. For example, the spread for Bitcoin can range from 0.75% to 5% depending on market conditions.

spreads-commissions
Pros Cons
Zero commission on stock and ETF trading Wider spreads compared to other brokers
Competitive spreads on major forex pairs Overnight fees charged on leveraged positions
No hidden fees or surprises Limited selection of exotic currency pairs
Transparent pricing Higher spreads on cryptocurrencies
Tight spreads on commodities and indices Spreads can widen during volatile market conditions

Non Trading Fees

In addition to spreads and commissions, eToro also imposes a few non-trading fees that traders should take into consideration before trading on this platform. These fees include:

  • Withdrawal fee: eToro charges a withdrawal fee of $5 per withdrawal. This fee is relatively low compared to other brokers.

  • Inactivity fee: If you don't log in to your eToro account for 12 months, an inactivity fee of $10 per month will be charged to your account. This fee is charged until you log in again or until your account balance reaches zero.

  • Overnight fees: eToro charges overnight fees or rollover fees for positions held open overnight. The amount of the fee depends on the instrument traded, the direction of the position, and the size of the position.

  • Currency conversion fee: If you deposit funds in a currency different from the base currency of your account, eToro charges a currency conversion fee. The fee is 0.5% of the deposited amount, and it's calculated based on the exchange rate at the time of the conversion.

non-trading-fees
non-trading-fees
non-trading-fees
non-trading-fees
Pros Cons
No commissions on stock and ETF trading Higher spreads compared to other brokers
No deposit fees High withdrawal fees
No account maintenance fees Inactivity fee after 12 months of inactivity
No fees for using the CopyTrader feature Limited payment methods
No fees for currency conversion Overnight fees for positions held overnight
High fees for using PayPal as a payment method

Trading Platform

eToro offers its proprietary trading platform, which is designed to be user-friendly and intuitive, particularly for novice traders. The platform provides a variety of tools and features, including real-time market data, advanced charting tools, and an easy-to-use order entry system.

One of the most notable features of the eToro platform is its social trading functionality, which allows users to follow and copy the trades of successful traders. This feature is particularly appealing to new traders who may lack the knowledge or experience to make their own trades.

In addition to its proprietary platform, eToro also supports the popular MetaTrader 4 (MT4) platform, which is widely used by traders around the world. MT4 is known for its advanced charting capabilities, extensive library of technical indicators, and the ability to automate trading strategies through the use of Expert Advisors (EAs).

trading-platform
trading-platform

Here is a comparison table of the trading platform offered by eToro, FP Markets and Exness:

Broker Trading Platform Desktop Web-based Mobile
eToro eToro Platform ✔️ ✔️ ✔️
FP Markets MetaTrader 4 (MT4) ✔️ ✔️ ✔️
Exness MetaTrader 4 (MT4) ✔️ ✔️ ✔️

Deposits & Withdrawals

eToro accepts multiple payment methods, including credit/debit cards, bank transfers, and e-wallets such as PayPal, Neteller, and Skrill. The minimum deposit amount is $10, which is relatively low compared to other brokers in the industry. Deposits are usually processed instantly or within one business day, depending on the payment method. eToro does not charge any deposit fees, but some payment providers may have their own fees.

eToro allows you to withdraw funds using the same payment methods as deposits.The minimum withdrawal amount is $30, and there is a withdrawal fee of $5.Withdrawals are usually processed within one business day, but it may take longer for bank transfers.Before making a withdrawal, you need to verify your identity and complete the necessary KYC (Know Your Customer) procedures. eToro also has a policy of returning funds to the original payment method used for deposits, whenever possible.

deposits-withdrawals
deposits-withdrawals
deposits-withdrawals
deposits-withdrawals
Pros Cons
Wide range of payment methods available including credit/debit cards, PayPal, and bank transfer Withdrawal fee of $5 per transaction
Quick and easy deposit process with most methods being processed instantly Minimum withdrawal amount of $30
No deposit fees charged by eToro Limited number of currencies available for deposits and withdrawals
Supports deposits and withdrawals in multiple currencies Withdrawal processing time can take up to 7 business days
Allows users to set up multiple payment methods for convenience Third-party fees may be charged by payment processors
Negative balance protection ensures that users cannot lose more than they have deposited Users may need to provide additional verification documents for withdrawals

Customer Support

Customer support is an important aspect of any online brokerage firm, and eToro is no exception. eToro offers various channels for customers to get in touch with its support team. These channels include:

  • Live chat: This is available 24/5, Monday to Friday. It is the fastest and most efficient way to get support.

  • Email: Customers can send an email to the eToro support team. The response time is usually within 24 hours.

  • Phone: Customers can also call the support team during office hours. eToro provides local phone numbers for various countries.

  • Social media: eToro has a presence on various social media platforms, including Twitter and Facebook. Customers can use these platforms to get in touch with the support team.

  • FAQ section: eToro offers a comprehensive FAQ section on their website that covers a wide range of topics related to their services, trading, account management, and more. The FAQ section is organized into categories, making it easy for users to find answers to their questions quickly.

Educational Resources

When it comes to educational resources, Toro offers a variety of educational content to help traders improve their skills and knowledge of the financial markets.

These resources include:

  • eToro Academy: This is an online education portal that provides traders with a wide range of educational materials, including articles, videos, webinars, and courses on various topics such as trading strategies, market analysis, risk management, and more.

educational-resources
  • Trading Guides: eToro also offers a series of trading guides that provide in-depth information on various trading topics, including stocks, commodities, currencies, and indices.

  • Market News and Analysis: eToro provides traders with up-to-date news and analysis on the financial markets. This includes daily market updates, weekly market analysis, and other educational content.

educational-resources
  • Blog: eToro has a blog that provides traders with the latest news, market analysis, and trading tips.

  • Virtual Portfolio: eToro offers a virtual portfolio feature that allows traders to practice trading without risking real money. This is a great way for beginners to gain experience and test out their trading strategies before trading with real money. Here is an instructional video for users to know clearly what Virtual Portfolio is:https://www.youtube.com/watch?v=GWK7uQ98KpM.

Conclusion

Overall, eToro is a reputable and user-friendly online trading platform that offers a wide range of financial instruments and trading options to its clients. Its innovative social trading features, intuitive platform, and excellent customer service make it an attractive choice for both beginner and experienced traders. However, it does have some drawbacks, such as relatively high fees, limited research tools, and a lack of advanced charting capabilities.

FAQs

  • Q: Is eToro a regulated broker?

  • A: Yes, eToro is a regulated broker. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) in Europe, the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC) in Australia.

  • Q: What trading instruments are available on eToro?

  • A: eToro offers a wide range of trading instruments, including stocks, ETFs, cryptocurrencies, forex, commodities, and indices.

  • Q: What is the minimum deposit required to open an account on eToro?

  • A: The minimum deposit required to open an account on eToro varies depending on your location and the type of account you choose. For most countries, the minimum deposit is $500.

  • Q: Does eToro offer a demo account?

  • A: Yes, eToro offers a demo account that allows you to practice trading with virtual funds. The demo account is free and can be used for an unlimited period of time.

  • Q: What is eToro's customer support like?

  • A: eToro's customer support is available 24/5 and can be reached through email, live chat, and phone. They also have a comprehensive help center and a community forum where you can get answers to common questions and connect with other traders.

weltrade

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

WELTRADE Review Summary in 10 Points
Founded 2006
Registered Country/Region Saint Vincent and the Grenadines
Regulation FSCA (exceeded)
Market Instruments forex, Index CFDs, commodities, stock CFDs, metals and digital currencies
Demo Account Available
Leverage 1:1000
EUR/USD Spread Floating from 0.5 pips
Trading Platforms MT4, MT5
Minimum deposit $1
Customer Support 24/7 live chat, phone, email

What is WELTRADE?

Established in 2006, WELTRADE, a trading name of Systemgates Capital Ltd, is allegedly an online CFDs broker incorporated in Saint Vincent and the Grenadines and regulated in Belarus that provides its clients with the worlds most widely-used MetaTrader4 and MetaTrader5 trading platforms, flexible leverage up to 1:1000, floating spreads on various tradable assets, a choice of four different live account types, as well as auto-trading service and 24/7 customer support service. As for regulation, WELTRADE holds an exceeded Financial Sector Conduct Authority (FSCA) license.

WELTRADE's home page

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

WELTRADE has several advantages, such as a variety of trading instruments, flexible leverage options, and a range of account types suitable for traders at different levels. The broker also provides a range of trading platforms and tools, as well as 24/7 customer support.

However, the negative reviews from some customers regarding withdrawal issues and scams are concerning. Additionally, the lack of valid regulatory license may be a cause for caution. Traders should always exercise caution when selecting a broker and conduct thorough research before investing.

Pros Cons
• Negative balance protection • Exceeded FSCA license
• Multiple account types to choose from • Negative reviews and reports of scams
• Flexible leverage options • Clients from the USA, Canada, EU, Belarus and Russia are not accepted
• Low spreads with no commissions
• MT4 and MT5 supported
• Low minimum deposit ($1)
• Multiple deposit and withdrawal methods
• 24/7 customer support

WELTRADE Alternative Brokers

    There are many alternative brokers to WELTRADE depending on the specific needs and preferences of the trader. Some popular options include:

    • CMC Markets - A reliable broker with a long history and competitive pricing.

    • FOREX TB - A broker with a wide range of trading instruments and a user-friendly platform.

    • GMO - A well-known Japanese broker with with a strong focus on technology and innovation.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is WELTRADE Safe or Scam?

The fact that WELTRADE is regulated by Financial Sector Conduct Authority (FSCA) in South Africa is a positive point, but the negative reviews from clients are concerning. The negative reviews, including clients saying they are unable to withdraw and accusing WELTRADE of being a scam, cannot be ignored.

The fact that WELTRADE offers negative balance protection is a good thing, but it does not necessarily guarantee the safety of the investment. It is important to exercise caution when investing with any broker, and it is recommended to thoroughly research and gather information before making any investment decisions.

Market Instruments

WELTRADE offers a diverse range of market instruments to trade including Forex, metals, commodities, index CFDs, and CFDs for digital instruments such as Bitcoin, Litecoin, and Ethereum. The Forex instruments include a variety of major, minor, and exotic currency pairs, with competitive spreads and high leverage options available. The commodity markets available to trade include precious metals like gold and silver, as well as energy products such as oil and gas.

Furthermore, traders can also access a variety of CFDs on popular stock indices from around the world. WELTRADE's offering of digital instrument CFDs allows traders to participate in the growing cryptocurrency market with competitive conditions.

Accounts

WELTRADE's account types cater to traders of all levels, with the Micro account being suitable for beginners and the Premium account for advanced traders.

The Micro account has a minimum deposit requirement of $1, making it accessible for those who want to start with a small investment. The Pro account requires a minimum deposit of $100, and it is considered the best choice according to the broker's website. The Premium account requires a minimum deposit of $25,000 and offers additional features and benefits for advanced traders.

It is worth noting that traders should carefully consider their level of experience and investment goals when choosing an account type.

Account type Micro Pro Premium
Minimum deposit $1 $100 $25
Average speed of deal execution from 0.9 second from 0.5 second from 0.8 second
Account currency cents USD / cents EUR USD USD / EUR
Spread Floatingfrom 1.5 pips Floatingfrom 0.5 pips Floatingfrom 1.5 pips
Minimum volume of one order 0.01 lots
Maximum volume of one order 1000 lots 100 lots 100 lots
Leverage 1:33 - 1:1000 1:1-1:1000 1:33 - 1:1000
Margin Call Level 100%
Stop Out Level 10%, 20% for digital instruments
Interest rate / 5% 3.5%
Interest rate No
Trading platform MetaTrader 4 / MetaTrader 5
Automatic trading Yes
Swap

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Micro or Premium account can enjoy flexible leverage ranging from 1:33 to 1:1000, while the Pro account with the leverage of 1:1-1:1000. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads are influenced by what type of accounts traders are holding. WELTRADE reveals that the spread on the Micro and Premium accounts is floating from 1.5 pips, while the clients on the Pro account can experience floating spreads from 0.5 pips. All charging no commissions. It is important for traders to understand the different spread and commission structures before opening an account with WELTRADE.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread Commissions
WELTRADE From 0.5 pips None
CMC Markets From 0.7 pips None
FOREX TB From 0.5 pips None
GMO From 0.8 pips None

Note: Spreads can vary depending on market conditions and volatility.

Trading Platforms

When it comes to trading platforms available, WELTRADE gives a variety of trading platforms to suit different traders' needs. The popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are available for download on iOS and Android devices, as well as on desktop and Mac OS. These platforms are well-known in the industry for their user-friendly interface, advanced charting tools, and the ability to support automated trading through the use of Expert Advisors.

In addition, WELTRADE also offers the Web Terminal platform, which is accessible through a web browser, allowing traders to trade from any device with an internet connection.

MT4 and MT5

Overall, WELTRADE's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Broker Trading Platforms
WELTRADE MT4, MT5
CMC Markets CMC Next Generation, MT4, MT5, Stockbroking platform
FOREX TB MT4, MT5, WebTrader, MobileTrader
GMO Z.com Trader, MT4, FXBook Mobile, Z.com Trader Mobile, FXBook Web

Note: This table is subject to change as brokers may add or remove trading platforms over time.

Trading Tools

In addition to its trading platforms, WELTRADE provides traders with some trading tools to assist with their trading decisions. One of these tools is the Trading Calculator, which enables traders to estimate their potential profits or losses on a trade before executing it.

The Economic Calendar is also available to traders, which shows upcoming economic events and releases and their expected impact on the markets. These tools can be useful for traders who want to keep up with the latest market news and make informed trading decisions.

Trading Tools

Deposits & Withdrawals

WELTRADE accepts deposits and withdrawals with credit/debit cards, like Visa and MasterCard Skrill, Neteller, digital currencies, Perfect Money, Indonesia Local Bank, and Fasapay,making it convenient for traders from different countries. The minimum deposit amount depends on the terms of the payment system.

WELTRADE minimum deposit vs other brokers

WELTRADE Most other
Minimum Deposit $1 $100

Deposits via Indonesia Local Bank can be processed in 24 hours, while other deposits are instant. All withdrawal requests are said to be processed within 30 minutes and the broker supports 24/7 withdrawals. More details can be found in the below screenshots.

However, it is important for traders to carefully review the terms and conditions of each payment method, as well as any potential fees or limitations that may apply. More details can be found in the below screenshots.

Deposits
Withdrawals

Customer Service

It is a good sign that WELTRADE offers multiple ways to get in touch with their customer support team, including 24/7 Live chat, phone, email, online messaging, or request a callback. The broker also has a presence on popular social media platforms, including Twitter, Facebook, Instagram and Line, which may be convenient for some traders. It should be noted that the broker is registered in Saint Vincent and the Grenadines, which is not a heavily regulated jurisdiction, so traders should exercise caution and do their due diligence before investing.

Customer Service
Customer Service

Overall, WELTRADE's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Pros Cons
• 24/7 multi-channel support available • Registered address is shady
• Active presence on social media platforms for easy communication
• Support for multiple languages

Note: These pros and cons are subjective and may vary depending on the individual's experience with WELTRADE's customer service.

Education

WELTRADE offers a range of educational resources to help traders improve their knowledge and skills. The broker provides market news and analytics to keep clients updated on the latest market trends and developments. In addition, WELTRADE offers training and seminars to help traders learn the basics of trading, as well as more advanced strategies. The MetaTrader guide is also available for traders to learn how to use the trading platform effectively. These educational resources can help traders make better-informed trading decisions and improve their overall trading performance.

User Exposure on WikiFX

It is important to exercise caution when investing with any broker, and this includes WELTRADE. It is concerning to see reports of scams and issues with withdrawals from some users. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure on WikiFX

Conclusion

Based on the information available, WELTRADE is a Forex and CFD broker offering a range of trading instruments, account types, and platforms. It has some attractive features such as competitive spreads, a wide range of payment methods, and negative balance protection.

However, there are also some concerns raised by clients regarding withdrawal issues and scams. Additionally, the broker is registered in Saint Vincent and the Grenadines, which is a less regulated jurisdiction compared to major financial centers. Traders should exercise caution and conduct their own research before investing with WELTRADE or any other broker.

Frequently Asked Questions (FAQs)

Q 1: Is WELTRADE regulated?
A 1: No. WELTRADE holds an exceeded Financial Sector Conduct Authority (FSCA) license.
Q 2: At WELTRADE, are there any regional restrictions for traders?
A 2: Yes. Not for residents of the USA, Canada, EU, Belarus and Russia and other not-supported (restricted) countries.
Q 3: Does WELTRADE offer demo accounts?
A 3: Yes.
Q 4: Does WELTRADE offer the industry-standard MT4 & MT5?
A 4: Yes. Both MT4 and MT5 are supportable.
Q 5: What is the minimum deposit for WELTRADE?
A 5: The minimum initial deposit to open an account is only $1.
Q 6: Is WELTRADE a good broker for beginners?
A 6: No. WELTRADE is not a good choice for beginners. Though it seems to offer competitive trading conditions, it lacks legitimate regulation.

Are the transaction costs and expenses of etoro, weltrade lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive etoro and weltrade are, we first considered common fees for standard accounts. On etoro, the average spread for the EUR/USD currency pair is -- pips, while on weltrade the spread is from 0.5.

Which broker between etoro, weltrade is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

etoro is regulated by ASIC,CYSEC,FCA,FSC. weltrade is regulated by NBRB,FSC,FSCA.

Which broker between etoro, weltrade provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

etoro provides trading platform including -- and trading variety including --. weltrade provides trading platform including Pro,Premium,Micro and trading variety including --.

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