Weastar Global Markets Ltd

Overview of Weastar Global Markets

Weastar Global Markets Ltd, established in 2023 and based in the United Kingdom, operates as an unregulated brokerage offering a diverse range of trading products, including Forex trading, cryptocurrencies, and CFDs on metals, stocks, commodities, and indices.

Satisfying various trading preferences, Weastar provides ECN and STP account types with leverage options ranging from 50 to 500. The spreads vary, starting from as low as 0.2 up to 28.5 pips, depending on the currency pair. The brokerage supports trading on the TW (trading web) APP, compatible with iOS, Android, and MAC, and offers a demo account for practice trading.

Despite a relatively high minimum deposit requirement of 500 USD, Weastar attempts to enrich its clients' trading experience by providing industry news as an educational resource, and customer support is accessible via email at info@weastartop.com.

Is Weastar Global Markets Legit or a Scam？

Weastar Global Markets Ltd is currently regulated by three different authorities, namely ASIC, VFSC, and NFA. However, it's important to note that all of these regulatory statuses are suspected to be clones.

The ASIC (Australian Securities and Investments Commission) license number is 269820, the VFSC (Vanuatu Financial Services Commission) license number is 700238, and the NFA (National Futures Association) license number is 0561011.

Pros and Cons

Pros of Weastar Global Markets Ltd:

1. Diverse Trading Instruments: Offers a wide range of trading options including Forex, cryptocurrencies, and various CFDs (metals, stocks, commodities, indices), meeting diverse trading interests and strategies.

2. Multiple Leverage Options: Provides a variety of leverage choices (50, 100, 200, 400, 500), allowing traders to select their preferred level of risk and potential return.

3. Competitive Spreads: Features competitive spreads starting from as low as 0.2 pips, which can be advantageous for traders looking to minimize trading costs.

4. Advanced Trading Platform: Supports the TW APP, which is compatible across multiple devices including iOS, Android, and MAC, offering flexibility and convenience for trading on the go.

5. Educational Resources: Although limited, the provision of industry news helps traders stay informed about market trends and economic events, aiding in better decision-making.

Cons of Weastar Global Markets Ltd:

1. Unregulated: The lack of regulation raises concerns about the security of funds, the credibility of brokerage, and the overall safety of trading activities.

2. High Minimum Deposit: A minimum deposit of 500 USD may be prohibitive for beginners or those with limited capital, restricting access to the brokerage's services.

3. Limited Educational Resources: Offering only industry news as an educational resource might not be sufficient for new traders who require comprehensive learning materials to understand trading fundamentals and strategies.

4. Limited Account Types: With only ECN and STP accounts available, there may be limited options for traders who seek more variety in account features and trading conditions.

5. Customer Support Limited to Email: The provision of customer support solely through email may not be adequate for urgent issues, lacking instant communication options like live chat or phone support.

Market Instruments

Weastar Global Markets Ltd offers a diverse array of trading products to meet various investor interests and strategies:

• Forex Trading (Currency Pairs): Traders have access to major, minor, and exotic currency pairs, enabling them to speculate on the value changes of different global currencies against each other.

• Cryptocurrency: Provides an opportunity to trade in popular digital currencies, allowing traders to engage in the dynamic and rapidly evolving crypto market.

• CFDs on Metals: Includes contracts for difference on precious metals such as gold and silver, offering a way to trade on the price movements of these commodities without owning the physical metal.

• CFDs on Stocks: Allows trading on the price movements of individual company stocks, enabling traders to speculate on the performance of leading companies without owning the actual shares.

• Commodities CFDs: Traders can speculate on the price changes of various commodities, such as oil, natural gas, and agricultural products, through contracts for difference.

• CFDs on Indices: Offers the ability to trade on the overall performance of stock market indices, such as the S&P 500, NASDAQ, and others, representing the collective value of selected stocks.

Account Types

Weastar Global Markets Ltd provides 2 kinds of accounts for its users.

ECN Accounts

ECN (Electronic Communication Network) accounts offered by Weastar Global Markets Ltd provide direct access to other market participants through an electronic trading network.

These accounts are characterized by very tight spreads starting from 0.0 pips, with a nominal commission of $3.0 on majors, reflecting the direct market prices available from over 50 banks and liquidity providers.

ECN accounts support a wide range of trading instruments, including currency pairs and index CFD trading, on the TRADINGWEB platform.

With leverage options extending up to 500, traders can amplify their trading capacity. The minimum trade volume is set at 0.01 lots with a maximum of 10,000 lots per ticket, and the stop-out level is 30%.

The ECN account is designed for experienced traders seeking a professional trading environment with high liquidity and instant execution, requiring a minimum deposit of 500 USD.

STP Accounts

STP (Straight Through Processing) accounts at Weastar Global Markets Ltd allow traders' orders to be sent directly to liquidity providers without the intervention of a dealing desk, ensuring no conflict of interest and faster execution.

These accounts feature spreads starting from 1.8 pips without additional commissions, making them suitable for traders who prefer trading with all costs included in the spread.

STP accounts are accessible on the TRADINGWEB platform and offer a broad selection of trading assets, including currency pairs and indices. Leverage up to 500 is available, providing flexibility in trading strategy and risk management.

The minimum trading volume is 0.01 lots, with a cap of 10,000 lots per ticket, and the stop-out level is also maintained at 30%. This account type is ideal for traders looking for straightforward pricing and reliable execution, with a minimum deposit requirement of 500 USD.

How to Open an Account？

Opening an account with Weastar Global Markets Ltd involves a straightforward process that can be completed in a few steps:

1. Visit the Official Website: Start by navigating to the Weastar Global Markets Ltd official website. Look for the “Open Account” or “Register” option, which is usually prominently displayed on the homepage.

2. Select Your Account Type: Choose between the ECN and STP account types offered by Weastar Global Markets Ltd. Consider the trading conditions of each account type, such as spreads, leverage, and minimum deposit requirements, to select the one that best fits your trading strategy and preferences.

3. Complete the Registration Form: Fill out the online registration form with your personal details, including your name, address, email, and phone number. You may also be required to provide identification documents, such as a valid photo ID or passport and a recent utility bill or bank statement for address verification, to comply with regulatory requirements.

4. Fund Your Account: Once your account is set up and verified, the next step is to deposit funds. Weastar Global Markets Ltd requires a minimum deposit of 500 USD to start trading. Choose your preferred funding method from the options provided and follow the instructions to make your deposit.

Leverage

Weastar Global Markets Ltd offers a variety of leverage options to suit different trading strategies and risk appetites, with levels available at 50, 100, 200, 400, and 500. This range allows traders to significantly amplify their trading positions, providing the potential for enhanced profit margins.

Spreads

Weastar Global Markets Ltd offers competitive spreads across its trading accounts, with variations depending on the account type and the traded financial instruments.

For ECN accounts, spreads start from as low as 0.0 pips, reflecting the direct market access and liquidity provided by over 50 banks, which is ideal for traders looking for tight spreads and fast execution. On the other hand, STP accounts feature spreads beginning from 1.8 pips, incorporating the brokerage costs into the spread without additional commissions.

Also, Weastar Global Markets Ltd offers competitive spreads for a wide range of currency pairs. Here are the spreads for three selected pairs:

Among the provided currency pairs by Weastar Global Markets Ltd, the pair with the lowest spread is EURUSD (Euro to US Dollar), with an exceptionally low average spread of 0.2 pips, indicative of the high liquidity and tight market pricing for this major currency pair.

On the other hand, the pair with the highest spread is USDZAR (US Dollar to South African Rand), which has a significantly wider average spread of 28.5 pips, reflecting the higher volatility and lower liquidity commonly associated with exotic currency pairs.

Trading Platform

Weastar Global Markets Ltd offers the “TRADINGWEB” platform, a web-based trading interface designed for simplicity and efficiency.

It features a user-friendly layout, real-time charting, and essential trading tools, enabling swift trade execution.

Accessible directly via web browsers, TRADINGWEB provides a convenient trading experience with the IOS,Android,and MAC versions, attracting people who value flexibility and ease of use.

Deposit & Withdrawal

Weastar Global Markets Ltd has set the minimum deposit threshold for opening a trading account at 500 USD. This initial deposit requirement is established to ensure that traders have sufficient capital to effectively engage in trading activities and manage their risk exposure.

The 500 USD minimum deposit applies to both the ECN and STP account types offered by the brokerage, providing traders with access to a wide range of financial instruments including forex, cryptocurrencies, and various CFDs.

Customer Support

Weastar Global Markets Ltd offers customer support through email, with the primary contact address being info@weastartop.com.

This support channel ensures that traders can reach out for assistance with any queries or issues they might encounter related to their trading accounts, platform usage, or other service-related concerns.

Educational Resources

Weastar Global Markets Ltd provides educational resources focused on industry news, offering traders insights and updates on market trends, economic events, and financial analysis.

By integrating industry news into their educational offerings, Weastar Global Markets Ltd supports its clients in staying abreast of the latest developments in the financial markets, which is crucial for both novice and experienced traders in navigating the complexities of trading.

Conclusion

Weastar Global Markets Ltd is a brokerage that offers a diverse range of trading products and services, including forex, cryptocurrencies, and CFDs across various asset classes.

With competitive spreads, a proprietary web-based trading platform (TRADINGWEB), and a minimum deposit requirement of 500 USD, it attracts both novice and experienced traders.

The brokerage emphasizes market liquidity and efficient trading execution, supported by customer service via email and educational resources centered around industry news.

FAQs

Q: What types of trading accounts does Weastar Global Markets Ltd offer？

A: Weastar offers ECN and STP accounts,meeting different trading strategies and preferences.

Q: What is the minimum deposit required at Weastar Global Markets Ltd？

A: The minimum deposit to open an account with Weastar is 500 USD.

Q: What trading platform does Weastar Global Markets Ltd use？

A: Weastar provides the TRADINGWEB platform, a web-based trading interface designed for ease of use and efficiency.

Q: What leverage options are available at Weastar Global Markets Ltd？

A: Weastar offers leverage options ranging from 50 to 500, allowing traders to choose their preferred risk level.

Q: What kind of spreads can I expect with Weastar Global Markets Ltd？

A: Spreads at Weastar start from as low as 0.2 pips for major currency pairs, varying by account type and market conditions.

Q: How can I contact Weastar Global Markets Ltd customer support？

A: Customer support can be reached via email at info@weastartop.com for any inquiries or support needs.

Q: Does Weastar Global Markets Ltd offer educational resources？

A: Yes, Weastar provides educational content focused on industry news to help traders stay informed about market trends.