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Do you want to know which is the better broker between FP Markets and WeTrade ?
In the table below, you can compare the features of FP Markets , WeTrade side by side to determine the best fit for your needs.
EURUSD: -0.2
XAUUSD: 0.9
Long: -5.78
Short: 2.54
Long: -37.6
Short: 22.51
EURUSD: 0.1
XAUUSD: -3.3
Long: -7.68
Short: 0.38
Long: -35.58
Short: 18.34
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 fp-markets, wetrade 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:
FP Markets | Basic Information |
Registered Country | Sydney, Australia |
Founded in | 2005 |
Regulation | ASIC, CySEC |
Minimum Deposit | $100 |
Trading Instruments | Forex, Indices, Commodities, Shares, Cryptocurrencies, Metals, Bonds, and ETFs |
Trading Platforms | MetaTrader 4, MetaTrader 5, Iress |
Account Types | Standard, Raw, Islamic, Demo |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | $3.00 per side per 100k traded (Raw Account only) |
Deposit and Withdrawal Methods | Bank Wire Transfer, Credit/Debit Card, Skrill, Neteller, POLi, FasaPay, China Union Pay, BPay, PayPal |
Customer Support | 24/7 Live Chat, Email, Phone Support, Knowledge Base, Video Tutorials |
Educational Resources | Webinars, eBooks, Trading Videos, Trading Tools, Market Analysis, Economic Calendar |
FP Markets is an Australian-based online brokerage firm that offers various trading instruments including forex, shares, indices, metals, and cryptocurrencies. The company was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). FP Markets provides clients with access to multiple trading platforms including MetaTrader 4, MetaTrader 5, and IRESS. The broker also offers several account types to cater to the needs of different traders, including Standard andRaw, with the minimum deposit to open a standard account starting from $100 AUD or equivalent amount. The standard account is designed for novice traders, while the Raw account is intended for more experienced traders who require tighter spreads and faster execution speeds. In addition, the company offers Islamic accounts, as well as a free demo account for traders to test their strategies in a risk-free environment.
When it comes to trading conditions, FP Markets is known for its competitive spreads and low commissions. The broker also offers high leverage options of up to 500:1 for forex trading. Additionally, the broker offers various 24/7 customer support and rich educational resources such as webinars, trading guides, and video tutorials, which can help both novice and experienced traders to improve their trading skills.
Yes, FP Markets is a regulated broker. They are regulated by two reputable regulatory bodies: the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). ASIC is known for its strict regulations and is considered to be one of the most trusted regulators in the world. CySEC is also a reputable regulator and is responsible for regulating the financial markets in Cyprus, which is an important hub for forex and CFD trading. FP Markets' adherence to these regulatory bodies' rules and regulations ensures its transparency, and fairness in its operations.
FP Markets has several pros, including its strong regulatory framework, low trading fees, diverse range of financial instruments, and robust trading platforms. The broker also offers various account types to suit the needs of different traders and provides excellent customer support. However, some potential cons of FP Markets include limited live trading account types, high inactivity fees, and the fact that the broker is not available to clients from certain countries.
Pros | Cons |
Regulated by reputable authorities (ASIC, CySEC) | No support for U.S. clients |
Wide range of trading instruments | Limited live account types |
Website easy to navigate | Inactivity fee charged on dormant accounts |
Low spreads and competitive pricing | No social trading platform offered |
Generous leverage up to 1:500 | Minimum deposit not the friendiest compared to other brokers |
Rich educational resources available | |
Negative balance protection | |
Multiple trading platforms, MT4, MT5 and Iress | |
High-quality customer service and support |
FP Markets offers over 2250 market instruments for traders to choose from, including forex pair ( over 60) , indices, commodities (Coffee, natural gas, corn & more) , metals (Gold, oil, silver & more), cryptocurrencies, bonds (US10YR & UK Long Gilt Futures GILT), shares ( more than 10,000) and more. With Forex, traders can access major currency pairs, as well as minor and exotic currency pairs. For indices, FP Markets offers a selection of popular indices from around the world, including the S&P 500, NASDAQ, FTSE 100, DAX 30, and more. In the commodities market, traders can trade precious metals like gold and silver, as well as oil, natural gas, and other commodities. FP Markets also offers trading in cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, as well as shares from various exchanges, including the NYSE and NASDAQ. Overall, FP Markets provides a diverse range of market instruments for traders to choose from.
Behold, a comparison table of the vast array of market instruments offered by reputable brokers FP Markets, IC Markets, FXTM, and Exness:
Market Instruments | FP Markets | IC Markets | FXTM | Exness |
Forex | 60+ | 65+ | 60+ | 120+ |
Commodities | 15+ | 19+ | 3+ | 10+ |
Indices | 20+ | 18+ | 11+ | 10+ |
Stocks | 10,000+ | 120+ | 180+ | 0 |
Cryptocurrencies | 5+ | 10+ | 5+ | 5+ |
When it comes to FP Markets' account types, there are a few important things to consider. Firstly, it is worth noting that the available account types depend on which trading platform you choose to use. The MT4 and MT5 platforms offer Standard and Raw account types, while the iRESS trading platform offers both Retail and Wholesale/Professional account types.
Let's take a closer look at each account type. The Standard account offers commission-free trading with spreads starting from 1.0 pip, while the Raw account offers commission-based trading with spreads starting from 0.0 pips. The Raw account is designed for traders who require lower spreads and are willing to pay a commission for the privilege.
On the other hand, the iRESS trading platform offers both Retail and Wholesale/Professional account types. The Retail account offers commission-free trading with spreads starting from 0.0 pips, while the Wholesale/Professional account offers commission-based trading with spreads starting from 0.0 pips. The Wholesale/Professional account is designed for traders who require lower spreads and have higher trading volumes, and are therefore able to access deeper liquidity pools.
Each account type has its own minimum deposit requirement, which varies depending on the platform and account type you choose, with Standard and Raw (MT4 & MT5)starting from $100 AUD or equivalent, retail and wholesale account from $1,000. In addition, each account type offers different leverage options, depending on the financial instrument being traded.
Pros | Cons |
Multiple account types to choose from | Limited leverage options for certain account types |
Low minimum depoist for Standard and Raw account | Minimum deposit requirements can be high for some retail and professional account |
Ability to trade multiple markets with IRESS platform | Some account types may have higher commission fees |
Access to multiple trading platforms | Limited cryptocurrency trading options |
Professional account options for experienced traders | Demo accounts only available for a limited time period |
High-speed order execution with ECN trading technology | Swap-free account options may not be available for all account types |
FP Markets offers free demo accounts for both the MT4 and MT5 platforms, allowing traders to practice their strategies and familiarize themselves with the platforms before opening a live trading account. The demo accounts provide access to real-time market data, competitive spreads, and a range of trading tools, making it an ideal option for traders of all levels to test their trading skills without risking their capital.
One of the key advantages of FP Markets' demo accounts is that they allow traders to experience the same trading conditions as their live accounts, giving them a realistic view of the market environment. In addition, the demo accounts are unlimited, meaning that traders can practice for as long as they want without any time restrictions.
FP Markets' demo accounts are valid for 30 days. However, if you require an extension, you can contact their customer support team to request it. They may extend the demo account for an additional 30 days.
FP Markets offers Islamic or swap-free accounts to clients who follow the Muslim faith and cannot receive or pay interest due to religious reasons. These accounts comply with Sharia law and allow traders to hold positions overnight without incurring any rollover fees or interest charges.
FP Markets' Islamic accounts are available for all account types, including the Standard and Raw accounts for MT4 and MT5, as well as the iRESS Trading platform. Traders can open an Islamic account by submitting a request to the FP Markets support team, which will review and approve the application.
Here is some more detailed information about how to open an account with FP Markets:
To begin the account opening process, prospective clients can go to the FP Markets website and click on the “Open Live” button. They will then be directed to a page where they can choose between opening a live or a demo account.
After selecting the account type, clients will need to fill out an application form that requires personal and financial information. This includes details such as their full name, email address, phone number, country of residence, and employment status.
Clients will also need to provide some identification documents, such as a passport or national ID card, as well as proof of address, which could be in the form of a utility bill or bank statement. FP Markets takes security seriously and has a strict verification process to ensure the safety of client funds and information.
Once the application has been submitted and the client's identity and address have been verified, they will receive an email with their login credentials and instructions on how to fund their account. FP Markets offers a variety of payment options, including credit/debit cards, bank transfers, and various e-wallets.
The leverage offered by FP Markets for other instruments varies based on the type of instrument and the entity under which it operates. For example, the Australian entity of FP Markets offers a maximum trading leverage of up to 1:500 for major forex trading, while the CySEC entity offers a maximum trading leverage of up to 1:30 for forex trading. Besides, for commodities and indices, the maximum leverage available is usually lower than for forex trading.
Please bear in mind that trading with leverage involves a higher degree of risk, and traders should use it wisely and with caution. It is always advisable to understand the risks involved and have a sound risk management plan in place before using leverage in trading.
FP Markets offers competitive spreads and commissions for its traders. The spreads for forex trading start from as low as 0.0 pips, depending on the type of account and trading platform. The Raw account, which is available on both the MT4 and MT5 trading platforms, charges a commission of $3 per side per lot traded, while the Standard account has no commission but slightly wider spreads.
For trading CFDs on indices, FP Markets charges a commission starting from $10 per lot, while the spreads start from 0.5 points. The commission and spreads for other instruments, such as commodities, shares, and cryptocurrencies, vary depending on the specific instrument and trading platform.
FP Markets offers an Active Traders program that provides discounted trading fees for high-volume traders. Traders who meet certain trading volume requirements can receive rebates on their commissions and reduced spreads.
We've gathered data on EUR/USD, XAU/USD, Brent Crude Oil, and Bitcoin (BTC/USD) from top-notch brokers, including FP Markets, IC Markets, FXTM, and Exness, so you can make an informed decision on where to place your trades.
Broker | EUR/USD Spreads (pips) | XAU/USD Spreads(pips) | Brent Crude Oil Spreads(pips) | Bitcoin Spreads(pips) |
FP Markets | 0 | 15 | 3 | 18.66 |
IC Markets | 0 | 20 | 3 | 60 |
FXTM | 1.3 | 20 | 3 | 130 |
Exness | 0.9 | 17 | 2 | 80 |
In addition to trading fees, FP Markets also charges non-trading fees that traders should be aware of before opening an account. The broker charges an inactivity fee of AUD 10 per month on accounts that have been inactive for more than six consecutive months. FP Markets also charges a withdrawal fee of AUD 20 for withdrawals made via bank transfer, while withdrawals made via credit/debit card or e-wallets are free of charge.
Moreover, FP Markets offers a VPS service to its clients, allowing them to access their trading accounts from anywhere in the world. However, the VPS service is not free and is available at an additional cost of AUD 30 per month. The broker also offers a copy trading service called “MAM/PAMM,” which allows traders to copy the trades of professional traders. This service is also available at an additional cost of 10% performance fee.
Besides, FP Markets also charges swap interest for holding positions overnight. The swap rates can be either positive or negative depending on the currency pair and the direction of trade.
Pros | Cons |
No deposit or withdrawal fees for most methods. | Inactivity fee charged after 6 months of inactivity. |
No account administration fees. | Some payment methods may incur fees charged by third-party providers. |
No fees charged for Islamic accounts. | Overnight financing fees (swaps) are charged on positions held overnight. |
Low conversion fees for deposits and withdrawals in different currencies. |
FP Markets offers its clients a variety of trading platforms to choose from, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as the IRESS platform for advanced traders.
The MT4 platform is well-known for its user-friendly interface and extensive range of analytical tools, making it a popular choice among traders of all levels. The MT5 platform is an upgraded version of MT4, offering additional features such as more timeframes, additional order types, and advanced technical analysis tools.
The IRESS platform is designed for more advanced traders who require direct market access (DMA) and the ability to trade a variety of financial instruments, including stocks, futures, and options, as well as forex and CFDs.
Please note that FP Markets charges fees for using the MT4 and MT5 trading platforms. The fees depend on the account type and trading platform being used. For example, Standard account holders using the MT4 platform are charged zero commissions for various tarding assets, while Raw account holders are charged a commission of $3.5 AUD per lot for forex trades on the same platform. On the MT5 platform, both Standard and Raw account holders are charged a commission of $6 per lot for forex trades. It's important to note that these fees are subject to change and may vary depending on the instrument being traded.
Here is the comprehensive table comparing the top trading platforms offered by FP Markets and other reputable brokers such as IC Markets, Exness, and Avatrade:
Broker | Trading Platform | Desktop/Mobile/Web | Number of Instruments | Minimum Deposit |
FP Markets | MT4, MT5, IRESS | Desktop, Mobile | 10,000+ | $100 |
IC Markets | MT4, MT5, cTrader | Desktop, Mobile, Web | 300+ | $200 |
Exness | MT4, MT5 | Desktop, Mobile, Web | 150+ | $1 |
Avatrade | MT4, MT5, AvaOptions | Desktop, Mobile, Web | 1000+ | $100 |
FP Markets presents comprehensive copy trading services. The options include an embedded MT4 service from a leading algorithmic broker, an embedded MT5 service ideal for equity CFD copy trading, and an embedded cTrader service as a reasonable MT4 alternative. Additionally, traders can leverage the well-trusted third-party service Myfxbook AutoTrade or explore the fee-based emerging alternative Signal Start. Furthermore, FP Markets provides an in-house maintained copy trading service, FP Markets Social Trading, catering to traders seeking a proprietary solution.
FP Markets requires a minimum deposit of $100. This means that you can not open an account with FP Markets unless you deposit at least $100. However, it is important to note that some payment methods may require a higher minimum deposit. For example, if you are using a bank wire transfer, the minimum deposit may be higher than $100 due to processing fees.
The following is a table showing the comparison of the minimum deosit required by FP Markets and other brokers, avatrade, exness, and ic markets:
Broker | Minimum Deposit |
FP Markets | $100 |
Avatrade | $100 |
Exness | $1 |
IC Markets | $200 |
FP Markets offers a variety of convenient deposit and withdrawal methods to ensure that clients can easily fund and withdraw their accounts. Clients can deposit funds using credit/debit cards, bank wire transfers, electronic wallets such as Neteller, Skrill, POLi, and FasaPay. FP Markets does not charge any deposit fees, and the processing time for deposits is usually instant or up to 1 business day, depending on the deposit method.
For withdrawals, clients can use the same methods they used for depositing, and FP Markets does not charge any fees for most withdrawal methods. Withdrawal processing times vary depending on the method used, with electronic wallets usually taking up to 24 hours, while bank transfers can take 3-5 business days. Clients are advised to verify their accounts before making a withdrawal to avoid any delays or complications in the withdrawal process. Additionally, FP Markets offers free internal transfers between accounts, making it easy for clients to manage their funds across multiple trading accounts.
Pros | Cons |
Fast processing times for deposits and withdrawals | Limited payment options compared to other brokers |
No fees for most deposit and withdrawal methods | High withdrawal fees for bank transfers |
Multiple currency options for account funding | No support for some popular payment methods |
Availability of convenient payment methods |
FP Markets offers a range of customer support options to its clients, including email, phone, live chat, and an online contact form. The broker also provides access to a range of educational resources and tools, including a knowledge base, video tutorials, webinars, and trading guides. Additionally, FP Markets offers multilingual support in several languages, including English, Chinese, Spanish, and Portuguese.
In addition, FP Markets has an extensive FAQ section on their website that covers a wide range of topics and can help clients find answers to their questions quickly. 24/7 customer support is a significant advantage for clients who may need assistance outside of regular business hours.
Pros | Cons |
24/7 customer support availability | Limited language support for customer service |
Multiple customer support channels (phone, email, live chat) | No dedicated account manager for clients |
Fast response times to customer inquiries and requests | No in-person support or local offices in some countries |
Extensive knowledge base and educational resources | Limited social media presence for customer support |
FP Markets offers a wide range of educational resources to help traders improve their knowledge and skills in trading. These resources include video tutorials, webinars, trading guides, and market analysis. The broker also provides a demo account for traders to practice their trading strategies without risking real money. Additionally, FP Markets has a blog section on its website, which covers various trading topics and market updates.
Overall, the educational resources provided by FP Markets are comprehensive and easily accessible to traders. The broker's commitment to educating its clients is commendable, and it shows that it values the success of its clients. However, some traders may find that resources are not sufficient for their needs, and may require more personalized educational support.
Pros | Cons |
Comprehensive educational resources | Some traders may require more personalized support |
Demo account available for practice | |
Regular webinars and market analysis | |
Blog section with trading insights |
To sum up, FP Markets is a reputable and well-regulated broker that offers a wide range of instruments for traders to choose from, including forex, stocks, commodities, cryptocurrencies, and more. The broker offers multiple account types, including demo, Islamic, and standard accounts, as well as various trading platforms such as MT4, MT5, and iRESS. FP Markets also provides 24/7 customer support and a comprehensive range of educational resources for traders of all levels. While there are some potential drawbacks such as non-trading fees and limited leverage for certain instruments, the overall trading experience with FP Markets is generally positive.
Question: Does FP Markets offer demo accounts?
Answer: Yes, FP Markets offers demo accounts which can be used for practicing trading strategies and familiarizing oneself with the trading platforms.
Question: What is the minimum deposit requirement at FP Markets?
Answer: The minimum deposit requirement at FP Markets is $100.
Question: What instruments can be traded at FP Markets?
Answer: FP Markets offers a wide range of instruments including forex, shares, indices, commodities, cryptocurrencies, and more.
Question: Does FP Markets offer Islamic accounts?
Answer: Yes, FP Markets offers Islamic accounts for clients who require them.
Question: What is the maximum leverage available at FP Markets?
Answer: The maximum leverage available at FP Markets varies depending on the regulatory jurisdiction. The Australian entity offers up to 1:500 leverage for forex trading, while the CySEC entity offers up to 1:30.
Question: What are the trading fees at FP Markets?
Answer: FP Markets charges spreads and commissions on trades, with the specific fees varying depending on the trading instrument and account type.
Question: What are the deposit and withdrawal options at FP Markets?
Answer: FP Markets offers a range of deposit and withdrawal options including bank transfers, credit/debit cards, e-wallets, and more.
Question: What kind of customer support is available at FP Markets?
Answer: FP Markets offers 24/7 customer support through various channels including live chat, email, and phone.
Registered in | United Kingdom |
Regulated by | LFSA, FSA |
Year(s) of establishment | 5-10 years |
Trading instruments | Forex pairs, metals, energies, indices, stocks, cryptocurrencies… 90+ instruments |
Minimum Initial Deposit | $50 |
Maximum Leverage | 1:2000 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4 |
Deposit and withdrawal method | Bank wire transfer, USDT, local deposit, union pay |
Customer Service | 24/7 Email, live chat, YouTube, Facebook, line |
Fraud Complaints Exposure | No for now |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros and cons of WeTrade
Pros:
Regulated by FSA and LFSA, ensuring client fund safety
Wide range of instruments including forex pairs, metals, energies, indices, stocks, and cryptocurrencies
Multiple account types to suit different traders, including a demo account
Competitive spreads and high leverage of up to 1:2000
Educational resources available to traders, including an economic calendar and video tutorials
Cons:
Limited deposit and withdrawal options, with only USDT, bank wire, and local deposit accepted for deposit and union pay and bank wire for withdrawal
Customer support with only email and social media channels for communication
Limited information available about the company's background and history
No mobile trading platform available for traders on the go
ECN account requires a minimum deposit of $3000 and charges a commission of $7 per lot traded.
What type of broker is WeTrade?
Advantages | Disadvantages |
No conflict of interest | Higher spreads than market makers |
Straightforward pricing | No fixed spreads |
Lower trading costs | Possible requotes during volatile markets |
No trading restrictions | Slower order execution than market makers |
WeTrade is an STP (Straight Through Processing) broker that enables its clients to have direct access to interbank markets. This type of broker passes on their client's orders directly to liquidity providers, which are typically banks, without the need for a dealing desk. As a result, STP brokers are typically known for their transparency and faster order execution. WeTrade's STP model allows clients to experience pricing that reflects current market conditions, which can result in lower trading costs. However, since WeTrade does not have fixed spreads, clients may experience wider spreads during volatile markets. Additionally, requotes may occur due to the time it takes to process orders.
WeTrade is a UK registered forex broker that is regulated by the Financial Services Authority (FSA) and the Labuan Financial Services Authority (LFSA) in Malaysia. The FSA is one of the most reputable financial regulatory bodies in the world, and its oversight ensures that WeTrade operates according to strict standards of transparency and fairness. The LFSA is also a well-respected regulator and its oversight provides an additional layer of protection for traders. WeTrade's regulatory status is a significant advantage as it offers traders a level of protection and reassurance that their funds are safe and that the broker is operating within the law.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Advantages | Disadvantages |
Wide range of 90+ instruments including forex pairs, metals, energies, indices, stocks, and cryptocurrencies | No information provided on specific spreads for each instrument |
Ability to diversify trading portfolio | Limited selection of cryptocurrencies compared to some other brokers |
Access to a variety of markets and assets |
WeTrade offers its traders a wide range of 90+ instruments to choose from, including forex pairs, metals, energies, indices, stocks, and cryptocurrencies. This provides traders with a great opportunity to diversify their trading portfolio and access a variety of markets and assets. However, the broker does not provide specific information on spreads for each instrument, which can be a disadvantage for traders who are looking for greater transparency in terms of trading costs. Additionally, the selection of cryptocurrencies offered by WeTrade is somewhat limited compared to some other brokers in the market.
Advantages | Disadvantages |
Low spreads for all account types | Commission charged for ECN account |
Zero commission for STP, VIP, and Affiliate accounts | Higher spreads for Affiliate account |
ECN account offers zero spreads | Commission charged for ECN account |
WeTrade offers multiple account types, including STP, VIP, ECN, and Affiliate accounts, each with different spreads and commissions. The STP account offers spreads of EURUSD from 1.8 pips, with zero commission, making it an ideal choice for beginner traders. The VIP account offers lower spreads of EURUSD from 1.0 pips, with zero commission, making it a suitable option for advanced traders. The ECN account offers zero spreads, but with a commission of $7 per lot traded, making it more suitable for high-volume traders. Lastly, the Affiliate account offers spreads of EURUSD from 2.3 pips, with zero commission, designed for traders who want to earn commission through referrals. Overall, WeTrade's spreads and commission rates are competitive and cater to different trading needs.
Advantages | Disadvantages |
Multiple account types to choose from | Higher minimum deposit for ECN account |
High leverage of 1:2000 | Lower leverage may be preferred by some traders |
Commission-free trading on STP and VIP accounts | Commission charged on ECN account |
Demo account available for risk-free trading | Limited information on specific account features |
WeTrade offers traders a choice of four account types to suit their needs. The STP and VIP accounts have a minimum deposit of 50USD and 1000USD, respectively, and both offer commission-free trading. The ECN account requires a higher minimum deposit of 3000USD but offers spreads as low as 0.0 pips with a commission of 7USD per lot. The Affiliate account has the same minimum deposit as the STP account and offers commission-free trading, but with wider spreads. Additionally, a demo account is available for traders who want to practice their trading strategies without risking real money. The high leverage of 1:2000 is available across all account types, but some traders may prefer a lower leverage.
Advantages | Disadvantages |
Well-known and widely used platform | Limited customization options |
User-friendly interface | No built-in economic calendar |
Supports algorithmic trading through Expert Advisors (EAs) | Limited charting capabilities |
Wide range of technical analysis tools and indicators | No mobile push notifications |
Supports multiple order types | Limited timeframes for backtesting |
WeTrade offers its clients the MetaTrader 4 (MT4) platform, which is a well-known and widely used trading platform in the forex industry. The platform is known for its user-friendly interface and wide range of technical analysis tools and indicators, making it a popular choice among traders. Additionally, MT4 supports algorithmic trading through Expert Advisors (EAs), providing traders with automated trading capabilities. However, one of the main disadvantages of MT4 is its limited customization options, making it difficult for traders to create a personalized trading environment. Additionally, the platform lacks a built-in economic calendar and mobile push notifications, which can be a drawback for traders who rely on these features. Lastly, while MT4 supports multiple order types, it has limited timeframes for backtesting, which can be a disadvantage for traders who want to thoroughly test their strategies.
Advantages | Disadvantages |
Allows for potential higher profits with smaller capital | Increases risk of significant losses and margin calls |
Opportunity for greater market exposure and trading opportunities | Inexperienced traders may misuse high leverage, leading to significant losses |
Can be useful for experienced traders with solid risk management strategies | May lead to overtrading or emotional trading due to increased potential gains or losses |
May attract more traders due to the appeal of high leverage | Regulated brokers have limits on maximum leverage, which may restrict traders from taking advantage of higher leverage ratios |
WeTrade offers a maximum leverage of up to 1:2000, which is relatively high compared to other forex brokers. This allows traders to potentially increase their profits with a smaller capital investment and have greater market exposure. However, high leverage also increases the risk of significant losses and margin calls, especially for inexperienced traders who may misuse it or engage in overtrading or emotional trading. Experienced traders with solid risk management strategies may find high leverage useful, but regulated brokers have limits on maximum leverage, which may restrict traders from taking advantage of higher leverage ratios.
Advantages | Disadvantages |
Multiple deposit options | Limited withdrawal options |
No extra fees charged | No information provided on deposit/withdrawal processing time |
No minimum account required | Limited deposit options |
Safe and secure transactions |
WeTrade offers its clients multiple deposit options, including USDT, bank wire, and local deposits. Clients can withdraw funds via union pay and bank wire. WeTrade does not charge any extra fees for deposits or withdrawals. Additionally, there is no minimum account required, making it accessible for traders with different budgets. However, there is limited information provided about the deposit/withdrawal processing time. While WeTrade provides a safe and secure transaction environment, it offers limited withdrawal options compared to other brokers.
Advantages | Disadvantages |
Multiple educational resources available | No dedicated educational section on website |
Economic calendar available for keeping track of important events | Limited customization options for video tutorials |
Market reports and analyst views provide up-to-date information on market trends | No interactive webinars or live training sessions |
Access to a variety of indicators and TV channels for technical analysis | Limited educational resources for advanced traders |
Resources available in multiple languages for wider accessibility | No in-person training or seminars provided by WeTrade |
WeTrade offers various educational resources to its clients to enhance their trading skills and knowledge of the financial markets. The resources include an economic calendar, market reports, video tutorials, analyst views, indicators, and TV channels. The economic calendar keeps clients informed about important upcoming events that could affect the markets, while the market reports and analyst views provide up-to-date information on market trends. The video tutorials cover a range of topics from the basics of trading to advanced strategies, and clients can access a variety of indicators and TV channels for technical analysis. The educational resources are available in multiple languages to cater to clients from different parts of the world. However, there is no dedicated educational section on the website, and the educational resources may not be sufficient for advanced traders seeking more in-depth training.
Advantages | Disadvantages |
24/7 availability | No phone support |
Multiple channels of communication | Response time may vary |
Quick response times |
WeTrade offers a comprehensive customer care service that is available 24/7 through various communication channels such as email, YouTube, Facebook, and line. This provides customers with multiple options to reach out to the support team and get their queries resolved in a timely manner. Additionally, the support team has a reputation for providing quick response times, which ensures that customers' issues are resolved efficiently. However, WeTrade does not offer phone support, which may be inconvenient for some customers who prefer to speak with a representative directly. Moreover, the response time may vary based on the communication channel used, and the nature of the query may also impact the response time.
In conclusion, WeTrade is a UK-based forex broker that is regulated by FSA and LFSA. The broker offers various account types, including STP, VIP, ECN, and affiliate, with competitive spreads and high leverage up to 1:2000. The broker supports various trading instruments, including forex pairs, metals, energies, indices, stocks, and cryptocurrencies. Moreover, WeTrade provides educational resources and customer support available 24/7 via email, YouTube, Facebook, and Line. Overall, WeTrade has some advantages such as competitive trading conditions, a wide range of tradable instruments, and excellent customer support, which make it an attractive option for traders. However, there are also some drawbacks such as limited deposit and withdrawal options, lack of a proprietary trading platform, and no negative balance protection. Therefore, traders should carefully consider their options and weigh the advantages and disadvantages before choosing WeTrade as their preferred forex broker.
What is the minimum deposit required to open an account with WeTrade?
Answer: The minimum deposit required to open an account with WeTrade varies depending on the account type chosen. For the STP or affiliate account, the minimum deposit is 50 USD, for the VIP account it is 1000 USD, and for the ECN account it is 3000 USD.
What trading platforms does WeTrade offer?
Answer: WeTrade offers the popular MetaTrader 4 (MT4) platform for desktop, web, and mobile devices. MT4 is well-known for its advanced charting features, customization options, and automated trading capabilities.
What are the maximum leverage levels offered by WeTrade?
Answer: WeTrade offers a maximum leverage of up to 1:2000 for all account types, which means that traders can open positions that are up to 2000 times the size of their account balance.
What instruments can I trade with WeTrade?
Answer: WeTrade offers a variety of financial instruments for trading, including forex pairs, metals, energies, indices, stocks, and cryptocurrencies. In total, there are over 90 instruments available for trading.
How can I contact WeTrade customer support?
Answer: WeTrade offers 24/7 customer support via email, YouTube, Facebook, and Line. Traders can reach out to the support team at any time for assistance with their account or trading-related questions.
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 fp-markets and wetrade are, we first considered common fees for standard accounts. On fp-markets, the average spread for the EUR/USD currency pair is From 0.0 pips, while on wetrade the spread is EURUSD from 0.
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.
fp-markets is regulated by ASIC,CYSEC. wetrade is regulated by LFSA,FCA,FSA.
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.
fp-markets provides trading platform including Raw,Standard and trading variety including 70+ FX pairs, metals, indices, commodities. wetrade provides trading platform including ECN,VIP,STP and trading variety including --.