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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

WeTrade

United Kingdom|5-10 years| Benchmark AA|
Regulated in Malaysia|Straight Through Processing(STP)|MT4/5 full license|United Kingdom Appointed Representative(AR) Revoked|High potential risk|Offshore Regulatory|

https://www.wetradefx.com

Website

Rating Index

Benchmark

Benchmark

AA

Average transaction speed (ms)

494.2

MT4/5

Full License

WeTrade-Live2

Hong Kong
MT4
29

Influence

B

Influence index NO.1

United States 8.05
The WikiFX Score of this broker is reduced because of too many complaints!

Benchmark

Speed:A

Slippage:AAA

Cost:A

Disconnected:AAA

Rollover:A

MT4/5 Identification

MT4/5 Identification

Full License

29
Server Name
WeTrade-Live2 MT4
Server Location Hong Kong

Influence

Influence

B

Influence index NO.1

United States 8.05

Surpassed 74.77% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

globalsupport@wetradefx.com
https://www.wetradefx.com
https://www.facebook.com/global.wetrade

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

More

Danger

MU FSC
2023-01-12

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
WeTrade
CCC
NSFX

Danger

MY SCM
2022-01-01

Broker Information

More

Company Name

WeTrade International Limited

Company Abbreviation

WeTrade

Platform registered country and region

United Kingdom

Company employee

1

Company website
Facebook
YouTube

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Risk Alerts 3
Previous Detection : 2024-03-29
  • The number of the complaints received by WikiFX have reached 9 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United KingdomFCA (license number: 780894) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

WeTrade · Benchmark
Average transaction speed(ms)
494.2
The highest transaction speed(ms)
297 Poor
The highest speed of opening positions(ms)
297
The highest speed of closing position(ms)
303
The lowest speed of opening positions(ms)
1652 Good
The lowest speed of closing position(ms)
1759
Ranking: 40 / 133
Test user 384
Orders 2,703
Ocuppied margin $649,394 USD
Data Source WikiFX Data provide
Updated: 2024-03-27 01:03:SS

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Expose

    Total Margin Trend

    • VPS Region
    • User
    • Products
    • Closing time
    • Hongkong
    • 139***
    • XAUUSDc
    • 03-28 14:05:05
    • HoChiMinh
    • 580***
    • XAUUSDc
    • 03-28 14:00:36
    • Frankfurt
    • 251***
    • XAUUSDc
    • 03-28 13:50:00

    Stop Out

    0.76%

    Stop Out Symbol Distribution

    6 months

    Sources

    WeTrade · Company Summary

    Company Summary

    Company profile

    Note: WeTrades official site - https://www.wetradefx.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

    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 & Regulation

    Feature Information
    Registered Country/Region United Kingdom
    Found 2015
    Regulation unregulated
    Market Instrument forex, indices, energies, precious metals
    Account Type STP, VIP, ECN and Affiliate
    Demo Account N/A
    Maximum Leverage 1:1000
    Spread Vary on the account type
    Commission Vary on the account type
    Trading Platform MT4
    Minimum Deposit $100
    Deposit & Withdrawal Method USDT, bank wire transfers

    WeTrade, a trading name of WeTrade International Limited, is a forex broker founded in 2015 and based in London, UK.

    As for regulation, WeTrade holds a revoked (United Kingdom) Financial Conduct Authority license and an offshore regulated (Saint Vincent and the Grenadines) Financial Services Authority license. That is why its regulatory status on WikiFX is listed as “Offshore Regulatory” and receives a relatively low score of 4.48/10. Please be aware of the risk.

    General Information & Regulation

    Note: The screenshot date is February 3, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

    Market Instruments

    The company offers a wide range of trading products, including forex, indices, energies, precious metals, four trading categories in total, and more than 60 kinds of trading products.

    Account Types

    WeTrade has set up four types of accounts for investors with various investment needs and strategies, including the STP (minimum deposit of $100), VIP (minimum deposit of $1000), ECN (minimum deposit of $3000), and Affiliate accounts (minimum deposit of $100).

    Leverage

    When it comes to trading leverage, the maximum leverage is up to 1:1000 for Forex trading, which sounds incredibly high. Inexperienced traders are advised not to use such high trading leverage in case of fund losses.

    Spreads

    Spreads vary depending on the different account types chosen. The minimum spread for the STP account is 1.8 pips for EUR/USD, with no trading commission. The minimum spread for the VIP account is 1.0 pips for EURUSD, with no trading commission. The minimum spread for the ECN account is 0, charging a commission of 7 USD per lot. The minimum spread for the Affiliate account is 2.3 pips for EURUSD, requiring no trading commission.

    Trading Platform

    WeTrade offers its clients the advanced and popular MT4 trading platform, MAM and Multi-Account Management Tool (MAM). MT4 comes with robust charting and data analysis functions, available for PC, iOS, and Android versions. The MAM and multi-account management tools are two types of multi-account management systems that allow traders to trade for multiple accounts simultaneously.

    Deposit & Withdrawal

    Deposit methods support USDT, wire transfer, no commission for USDT deposit, support any bank, and instant payment. For wire transfers, the bank will charge a fee, and the time of arrival is subject to the bank. Withdrawal methods are CUP and wire transfer. The bank will charge a fee for wire transfers, and the time of arrival will be determined by the bank.

    Customer Support

    The WeTrade customer support team can be contacted through email: globalsupport@wetradefx.com, chinasupport@wetrade.net, support@wetradefx.com. You can also follow this broker on social networks such as WeChat: wolovewetrade, Facebook, and YouTube.

    Pros & Cons

    Pros Cons
    • Wide range of trading assets and account types • No regulation
    • MT4 supported • Website inaccessible
    • Limited funding options

    Frequently Asked Questions (FAQs)

    Q 1: Is WeTrade regulated?
    A 1: No. WeTrade holds a revoked (United Kingdom) Financial Conduct Authority license and an offshore regulated (Saint Vincent and the Grenadines) Financial Services Authority license.
    Q 2: Does WeTrade offer the industry-standard MT4 & MT5?
    A 2: Yes. WeTrade supports MT4.
    Q 3: What is the minimum deposit for WeTrade
    A 3: The minimum initial deposit to open an account is $100.
    Q 4: Is WeTrade a good broker for beginners?
    A 4: No. WeTrade is not a good choice for beginners. Though it advertises very well, it lacks legitimate regulations.

    User Reviews

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    User comment

    8

    Comments

    Write a review

    s4916
    more than one year
    Deposits are quick and easy. If you want to trade with company funds, opening an account with a business license is the best option. Unfortunately, sometimes the spread on gold can be quite large until the pending orders are triggered. Stop-loss is also not tight, as it usually ends up a few more points than what I set. Haven't had the chance to try withdrawals yet because I've been losing consistently.
    2024-03-22 15:50
    Reply
    0
    0
    董98129
    more than one year
    I used to have my best trading experience with WeTrade for 5 years, but I cannot open its official website now. I tried to contact my previous account manager, but I failed…
    2023-02-24 15:07
    Reply
    0
    0
    Ricci Leonardo
    more than one year
    What's going on? Why can't the site get in?! Could it be that there is a problem with my network again, or has this broker run offshore? So confusing, oh my Gosh!
    2023-02-13 16:29
    Reply
    0
    0
    不负
    more than one year
    Zhonghui's fees are quite transparent, there are no hidden fees, and there are a lot of educational resources and related support, which is very friendly to novices. The trading environment is not bad, and the account manager is quite professional.
    2022-12-14 14:52
    1
    0
    0
    ヾ杨杨
    more than one year
    I really don't want to remember my miserable experience, but I hope more people can read my review and stay away from this scammer. Do not trade with WeTrade! They're rigging the system behind your back to steal investors' money, and then excuse themselves by saying that it's all because the forex market itself is extremely risky.
    2022-11-27 10:56
    Reply
    0
    0
    A. 安于此生
    more than one year
    This broker is currently not subject to any legal regulation and the website is inaccessible. The overwhelming amount of complaints online makes me feel that this broker is probably a scammer. Still, be careful and never put your money in the hands of an unregulated broker.
    2022-11-24 12:05
    Reply
    0
    0
    FX1029549370
    more than one year
    They are big frauds! I’ve deposited $2,000 till now was not credited, they are completely scams. Anybody who has such experience? Maybe we can work together to raise complaint on them.
    2022-11-23 18:14
    Reply
    0
    0
    9
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