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.

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.

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.

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.

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.

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.

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.

FXCM Review Summary in 10 Points
Founded	1999
Headquarters	London, UK
Regulation	FCA, ASIC, CYSEC, FSCA
Market Instruments	currency pairs, precious metals, commodities, global stock indices, treasury bonds
Demo Account	Available
Leverage	1:30-1:400
EUR/USD Spread	1.3 pips
Trading Platforms	Trading Station, TradingView Pro, MetaTrader 4, ZuluTrade, Capitalise AI
Minimum deposit	$50
Customer Support	24/5 phone, email, and live chat
Promotions	Yes

What is FXCM？

FXCM is a retail forex broker that was founded in 1999. The company is headquartered in London, UK, but has offices and affiliates in a number of other countries, including Australia, Germany, France, Italy, Greece, Hong Kong, Japan, South Africa, and the United States.

The company provides online trading services in forex, contracts for difference (CFDs), and other financial instruments. FXCM offers various trading platforms including the popular MetaTrader 4 (MT4), Trading Station, TradingView Pro, ZuluTrade, Capitalise AI. The broker provides customer support in multiple languages and offers educational resources and market analysis tools to help traders make informed trading decisions.

What Type of Broker FXCM is？

FXCM is a retail forex and CFD broker that operates as a No Dealing Desk (NDD) broker. This means that FXCM does not take the opposite side of clients' trades and instead uses Straight Through Processing (STP) to send client orders to liquidity providers in the interbank market. This model is designed to provide traders with faster execution and more transparent pricing. FXCM also offers commission-based pricing, as opposed to spreads, which may appeal to traders who prefer a more transparent fee structure.

Pros & Cons

FXCM is a well-established and reputable forex broker with over two decades of experience in the industry. Its strengths include its comprehensive educational resources, a wide range of trading instruments and platforms, and a global presence. FXCM also offers competitive pricing and flexible account options, making it accessible to traders of all levels.

However, FXCM's weaknesses include limited deposit and withdrawal options, high fees for certain services, and the potential for slippage during periods of high volatility. Some traders have also reported issues with customer support, particularly in non-English speaking regions.

Pros	Cons
• Regulated by FCA and ASIC	• US clients are unaccepted
• Commission-free trading available on Standard accounts	• Limited product offerings beyond forex and CFDs
• Multiple trading platforms to choose from, including MetaTrader 4 and Trading Station	• Limited educational resources compared to some other brokers
• Competitive spreads on forex pairs	• Limited research and analysis tools
• No deposit or withdrawal fees	• Limited customer support availability on weekends
• Low minimum deposit requirement	• Limited payment options

It's worth noting that the pros and cons listed above are not exhaustive and may not necessarily apply to every trader's individual experience with FXCM.

Overall, FXCM can be a good choice for traders who prioritize education and a diverse range of trading options, but it may not be the best fit for those who require a specific deposit or withdrawal method, or who prioritize low fees above all else.

Is FXCM Safe or Scam？

FXCM is a legitimate broker with a long-standing reputation in the industry. The company is regulated by top-tier financial authorities, such as the FCA in the UK, the ASIC in Australia, CYSEC in Cyprus and FSCA in South Africa, which ensures that it operates under strict financial and ethical guidelines. FXCM also has a solid track record of handling client funds in a secure and responsible manner.

However, like any broker, there are potential risks involved in trading, such as market volatility and the possibility of losses. It's important to carefully evaluate the risks and benefits before deciding to trade with any broker.

How are you protected？

FXCM provides negative balance protection and offers its clients access to segregated accounts, providing additional security measures. More details can be found in the table below:

Protection Measure	Detail
Regulation	FCA, ASIC
Segregated Funds	Yes
Investor Protection	Up to £85,000
Negative Balance	Yes
Financial Audit	Yes
Insurance	No

Note: The table only includes a few of the many safety measures that FXCM employs to protect its clients.

Our Conclusion on FXCM Reliability:

FXCM is a well-regulated and reputable broker with a long-standing history in the industry. The company is regulated by top-tier financial authorities and has multiple licenses, demonstrating a commitment to client protection.

However, FXCM has faced regulatory penalties in the past and the company's reputation was negatively impacted. Overall, while FXCM has had some past issues, the broker has taken steps to address them and appears to be a reliable choice for traders.

Market Instruments

FXCM offers investors a diverse range of tradable instruments, including currency pairs, precious metals, commodities, global stock indices, treasury bonds, as well as a forex basket, a stock basket, CNH, and other popular products.

Account Types

There are two types of accounts: Regular Accounts and Premier Accounts. Regular accounts have a minimum deposit of $50 and allow investors to trade up to 39 popular currency pairs and the entire CFD range.

The Premier Account is designed for high-volume investors and requires, firstly, an FXCM account or a new account, a total USD notional trading volume of $10 million per natural month. The account offers investors a range of benefits: exclusive support, premium services, and tailor-made trading solutions.

Leverage

FXCM offers different leverage levels based on the jurisdiction of the client and the type of trading account. In general, FXCM offers leverage up to 1:400 for forex trading, and up to 1:200 for CFD trading on certain instruments. It's important to note that high leverage increases the potential for both profits and losses, so traders should use it with caution and have a good risk management strategy in place.

It's also worth noting that different regulatory bodies have different restrictions on leverage. For example, in the United States, the maximum leverage for forex trading is limited to 1:50, while in Europe, it's limited to 1:30 for retail clients. Traders should always check the specific leverage restrictions for their jurisdiction and account type before trading.

Spreads & Commissions

The spreads are 1.3 pips for EUR/USD, 2.3 pips for EUR/GBP, and 1.8 pips for AUD/USD. The Premier account offers investors a cashback offers. If a client trades EUR/USD pair and reaches $300 million in notional volume for the month (for the fifth step), then the cashback amount is $25/million, for a total cashback amount of $7,500. The cashback for equity index CFD products ranges from $1 to $3 per million USD.

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

Broker	EUR/USD Spread	Commission
FXCM	1.3 pips	$25/1M traded
IG	0.6 pips	No
Oanda	0.9 pips	No
Pepperstone	0.0 pips	AUD $3.5 / side / 100k traded
XM	0.6 pips	No
Plus500	0.6 pips	No

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

Promotions

FXCM provides rebates through three channels: Rebate Program, Friends and Family, Accounts Promotions. Account promotions, particularly, gives traders most benefits. To benefit from these promotions, traders simply need to open an account and register for the promotion by filling out the designated form. Upon account activation, making a deposit within 24 hours qualifies traders for the highest bonus of 5%, while those depositing within one month of activation can enjoy a 2-3% bonus. The bonus amount is then credited to the trader's account within 14 business days of the deposit, enabling them to boost their trading capital right from the start.

Trading Platforms

FXCM offers a comprehensive platform suite designed ffor various trading needs:

Trading Station: Proprietary advanced platform

TradingView Pro: Powerful charting and analysis

MetaTrader 4: Industry-standard user-friendly platform

ZuluTrade: Social trading, copy successful strategies

Capitalise AI: AI-powered automated trading and portfolio management

Overall, FXCM's trading platforms offer a range of advanced features and tools that can appeal to traders of all levels and styles.

Broker	Trading Platform
FXCM	Trading Station, TradingView Pro, MetaTrader 4, ZuluTrade, Capitalise AI
IG	IG Trading, MetaTrader4
Oanda	Oanda Trade, MetaTrader4, Oanda Web Trading
Pepperstone	MetaTrader4, MetaTrader5, cTrader, Pepperstone Webtrader
XM	MetaTrader4, MetaTrader5
Plus500	Plus500 WebTrader, Plus500 Windows Trader

Deposits & Withdrawals

FXCM welcomes several payment methods, including online banking payments, bank transfers, and other payments. The minimum single deposit for CUP is $100, and the minimum deposit for a credit card or wire transfer is $50. Besides, traders can withdraw funds once a month for free.

Minimum deposit requirement

The minimum deposit requirement for FXCM varies depending on the account type and the region of the client. For example, in the UK and some other regions, the minimum deposit for a Standard account is £300 or equivalent in another currency, while for the Mini account, it is £50 or equivalent.

However, in some other regions, such as the US, the minimum deposit for a Standard account is $5,000, while for the Mini account, it is $50. It is important to check the minimum deposit requirement for the specific account type and region before opening an account with FXCM.

FXCM minimum deposit vs other brokers

	FXCM	Most other
Minimum Deposit	$50	$100

FXCM Money Withdrawal

To withdraw funds from your FXCM account, you need to follow these steps:

Step 1: Log in to your FXCM account on the FXCM website.

Step 2: Click on the “MyFXCM” menu and select “Withdraw.”

Step 3: Select the account you wish to withdraw from and choose your withdrawal method.

Step 4: Enter the amount you wish to withdraw and provide any additional information that may be required for your chosen withdrawal method.

Step 5: Review and confirm your withdrawal request.

Step 6: Once your withdrawal request has been processed, you will receive an email confirmation with details of the transaction.

It's important to note that the time it takes for your funds to be withdrawn will depend on the withdrawal method you choose and the processing times of your bank or payment provider.

Fees

Apart from spreads and commissions, FXCM also charges overnight fees. Overnight fees, also known as swap fees, are charged for positions that are held overnight.

FXCM does not charge any deposit fees, but there are withdrawal fees depending on the withdrawal method used. For example, bank wire withdrawals are subject to a $40 fee, while credit card withdrawals are subject to a 1.8% fee.

Inactivity fees may also be charged if an account is inactive for a certain period. For example, FXCM charges an inactivity fee of $50 per year if there are no trades or open positions for 12 months.

It is important to review the fee schedule on FXCM's website before opening an account to ensure a full understanding of the fees associated with trading.

See the fee comparison table below:

Broker	Deposit Fee	Withdrawal Fee	Inactivity Fee
FXCM	Free for most methods	Free for most methods	$50/year
IG	Free	Free	$18/month
Oanda	Free	Free	$10/month
Pepperstone	Free	Free for Australian bank transfer, $20 for international wire transfer	$0
XM	Free	Free	$5/month after 90 days of inactivity
Plus500	Free	$10	$10/quarter

Please note that these fees may be subject to change and may vary depending on your location and account type. It's always a good idea to check with the broker directly for the most up-to-date information.

Customer Service

FXCM offers customer support via phone, email, and live chat 24/5 during market hours. They also have a FAQ section on their website to provide answers to common questions. FXCM provides localized support in various languages and countries, and they have a team dedicated to handling account-related inquiries.

In addition, they offer remote assistance through TeamViewer to assist clients with any technical issues they may encounter. Overall, FXCM is known for their responsive and helpful customer support.

Pros	Cons
• 24/5 customer support through phone and chat	• No 24/7 customer support
• Multilingual support	• No local office in some countries
• Comprehensive FAQ section on the website	• No dedicated account manager
• Personalized support for VIP clients	• Some clients report slow response times for inquiries

Note: The above information is based on general feedback from clients and may not be applicable to every individual experience.

Education

FXCM offers a range of educational resources to help traders improve their knowledge and skills. Some of the educational resources available on the FXCM website include:

• Webinars: Live and recorded webinars covering a variety of trading topics, including market analysis, technical analysis, and trading strategies.

• Video library: A collection of videos covering various trading topics, including trading psychology, chart patterns, and trading platforms.

• Trading guides: In-depth guides on various trading topics, including Forex trading, stock trading, and trading psychology.

• Forex news: Daily updates on market news and analysis from FXCM's team of experts.

• Trading signals: Trading signals based on technical analysis and market trends.

Conclusion

In conclusion, FXCM is a well-established and reputable broker that offers a range of trading instruments and account types with competitive spreads and commissions. The broker's trading platforms are user-friendly and offer advanced features for traders of all levels. Additionally, FXCM provides educational resources and excellent customer support, including 24/5 support in multiple languages.

However, FXCM does have some drawbacks, including the lack of negative balance protection and the high inactivity fee. The broker is also not available in all countries, which may limit accessibility for some traders. Overall, FXCM is a reliable and trustworthy broker that can meet the needs of both beginner and experienced traders.

Frequently Asked Questions (FAQs)

Q 1:	Is FXCM regulated？
A 1:	Yes. It is regulated by FCA and ASIC.

Q 2:	Does FXCM offer demo accounts？
A 2:	Yes.

Q 3:	Does FXCM offer industry-standard MT4 & MT5？
A 3:	Yes. It offers MT4 and Trading Station.

Q 4:	What is the minimum deposit for FXCM？
A 4:	The minimum initial deposit to open an account is $50.

Q 5:	Is FXCM a good broker for beginners？
A 5:	Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money.