Compare Forex Brokers!
Compare top Forex brokers side-by-side and find the best fit for your trading needs. Start your comparison now!
Alison Heyerdahl
Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content

Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.

Learn more about Alison Heyerdahl
Author
Author
Chris Cammack
Partner Manager and Financial Writer

Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

Learn more about Chris Cammack

Weltrade Broker Review

A company incorporated in Saint Vincent and the Grenadines, Weltrade is essentially unregulated. As such, any claims it makes regarding the safety of client funds cannot be verified. We suggest that you find an alternative regulated broker governed by processes designed to protect your funds.
2.67
/ 5
Min deposit
USD 25
Regulated By
FSA-St-Vincent
Trading Cost
USD 15
Leverage
1000:1
Copy Trading
Yes
Platforms
MT4, MT5
Instruments
Commodities, Stock CFDs, Forex, Indices, Metals
Visit Broker
Accepts Filipino Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. FxScouts does NOT recommend Weltrade due to insufficient regulation.

Our Verdict on Weltrade

For beginner traders who want low minimum deposits and prefer to trade in smaller trade sizes, Weltrade may be a tempting option. However, ongoing trading costs are higher than most other brokers, and Weltrade is not regulated, so trading security and safety cannot be verified.

An STP broker, Weltrade offers trading on a small range of tradable instruments, including 37 forex pairs, 2 commodities, 4 metals, and 15 cryptocurrencies, which is severely limited compared to other brokers.

Weltrade offers five live accounts and an unlimited demo account. Although the minimum deposit on its entry-level account is low at 25 USD, trading costs are high, with spreads averaging at 1.5 pips on the EUR/USD. Spreads tighten to 0.5 pips on the Pro Account, but this is in exchange for a minimum deposit requirement of 500 USD. Additionally, the trading costs on its Zulutrade Account are exorbitantly high. 

Weltrade offers full support for MetaTrader 4 and its successor, MetaTrader 5, but offers virtually no trading tools. It also lacks educational and market analysis materials, forcing traders to self-educate elsewhere.

Pros

  • Great platform choice

Cons

  • Wide spreads
  • Not properly regulated
  • Expensive withdrawals
  • Limited educational material

Weltrade Overall Summary

Trust Rating
1
Trading Conditions
3
Platforms
4.5
Education
1.5
Beginner Friendly
2
Assets Available
4
Analysis Research
1
Deposit & Withdrawal
1
Overall Rating
2.67
/ 5
Base Currencies
USD, EUR
Number of FX Pairs
37
Crypto Pairs
15
Copy Trading
Yes
Hedging Allowed
Yes
Scalping Allowed
Yes
Islamic Account
Yes
Account Name
Commission
1.5 pips / lot
EUR/USD
1.50
GBP/USD
1.60
USD/JPY
2.10
Negative Balance Protection
No
Company Name
Systemgates Ltd
Founded
2006
Website Language
English
Support Language
English
Office Locations
Saint Vincent
Support Email Address

Deposit & Withdrawal

bitcoin
ethereum
fasapay
litecoin
mastercard
neteller
perfectmoney
skrill
visa

Supported Platforms

Best MetaTrader 4 Forex Brokers
Best MetaTrader 5 Forex Brokers
Weltrade

Ready to trade with Weltrade?


Weltrade is essentially unregulated. As such, any claims it makes regarding the safety of client funds cannot be verified. 

Is Weltrade Safe?

Founded in 2006 and headquartered in St. Vincent and the Grenadines, Weltrade is an international broker that lacks regulatory oversight.

For all intents and purposes, the SVG FSA is not considered a forex broker regulator and applies no supervision of any CFD trading-related activities. Clients must rely solely on the reputation of Weltrade, as no additional measures exist to ensure client protection. However, in a show of good faith, Weltrade claims to segregate all client funds from the company’s operating capital at various top-tier banks, and it offers negative balance protection to all its clients.

However, as an unregulated broker, any statements it makes regarding its operations cannot be verified. 

Traders should also note that the SVG FSA will not provide any protection of client funds or compensation if the company becomes insolvent.

Overall, Filipino traders should be aware of trading with a broker that is essentially unregulated.

Opening an Account at Weltrade

The account opening process at Weltrade is user-friendly, fully digital and accounts are ready for trading immediately.

All Filipino residents are eligible to open an account at Weltrade but have to meet the following minimum deposit requirements:

  • Micro Account: 25 USD
  • Premium Account: 200 USD
  • Pro Account: 500 USD
  • Zulutrade Account: 200 USD
  • Digital Account: 50 USD

Creating an account is straightforward, the process is fully digital, and accounts are usually ready immediately. Weltrade offers individual and corporate accounts, but we will focus on opening an individual account:

  1. New traders will have to click on the “Registration” button at the top of the page where they will be directed to fill in their name, email address, and telephone number. A PIN confirmation will be sent to the registered email address.

  2. Traders will then have to fill in their personal details, including name, surname, and date of birth.

  3. Next traders will have to fill in their trading account settings, including preferred platform, account type, level of leverage.

  4. Traders will then have to upload the following documents:

    • Proof of Identification – Weltrade accepts all government-issued identification documents such as Passport, national ID card, driving license, or other government-issued ID. 

    • Proof of Address – Proof of residence/address document must be issued in the name of the account holder within the last 3 months and must contain a trader’s full name, current residential address, issue date, and issuing authority.

  5. Once this step is complete, traders can fund their accounts and begin trading.

Overall, Weltrade’s account-opening process is fully digital and hassle-free and accounts are generally ready for trading immediately.

Primary Image
Secondary Image

Weltrade’s Trading Instruments

Weltrade’s financial instruments are severely limited compared to other brokers. 

Available Assets and Leverage

Weltrade offers trading on a limited selection of Forex pairs, commodities, and metals.

Primary Image
Secondary Image

Weltrade Accounts and Trading Fees

Weltrade offers five live accounts, and trading fees are higher than those of other similar brokers.

Trading Fees

Like most other brokers, Weltrade offers a range of accounts with higher minimum deposits linked to tighter spreads. It also offers a Digital Account for trading cryptocurrencies and a Zulutrade Account with extremely wide spreads (up to 2.9 pips on the EUR/USD) and a commission per lot traded.

The trading costs on the Pro account are lower than those of the other account types. However, the Pro Account has a minimum deposit requirement of 500 USD.

The trading costs on the Micro and Premium accounts are 15 USD per lot of EUR/USD, which are higher than those on other brokers’ entry-level accounts. The Zulutrade account also charges a spread markup and trading commission, rendering it an expensive option.

Trading Accounts

We opened and tested Weltrade’s accounts:

Weltrade offers full support for both the MT4 and MT5 platforms on three live commission-free accounts, a commission-based copy trading account, and a digital currency account for trading cryptocurrencies. Higher minimum deposits are linked to tighter spreads and faster execution speeds.

Micro Account

Micro accounts are beginner-friendly training accounts with a minimum deposit of 25 USD, denominated in USD and EUR cents. Leverage is up to 1000:1, variable spreads start at 1.50 pips, and it is commission-free. Full support is offered for the MT4 and MT5 platforms, and trading is available on Forex and Metals. However, the maximum trading equity is 1000 USD. Additionally, the average execution speed is 0.9 seconds.

Premium Account

The minimum deposit on the Premium Account is 200 USD; accounts are commission-free and denominated in USD and EUR. Leverage is high, up to 1000:1, spreads start at 1.5 pips, and trading is available on Forex, Metals, and Commodities. There is no maximum trading volume and the average execution speed is 0.8 seconds.

Pro Account

The minimum deposit on the Pro account is 500 USD. Variable spreads start at 0.50 pips, leverage is up to 1000:1 and accounts are only denominated in USD. Pro accounts are commission-free and offer support for both the MT4 and MT5 platforms. The average execution speed on the account is 0.5 seconds.

ZuluTrade Account

The ZuluTrade account is an ECN account, popular for copy trading. The minimum deposit on this account is 200 USD, accounts are denominated in USD only, and variable spreads start at 2.90 pips, which is wider than other similar brokers. Leverage is slightly lower on this account – up to 500:1, while a commission of 1.5 pips/lot is charged. Trading is only available on the MT4 platform and offers trading on Forex, Metals, and Commodities. The average execution speed on this account is 0.7 seconds.

Digital Account

Digital accounts are commission-free accounts that only allow for trading on cryptocurrencies. The minimum deposit is 50 USD and spreads start at 0 pips. However, it should be noted that cryptocurrencies are highly volatile assets, and that spreads fluctuate depending on trading volume and market conditions. The maximum leverage on this account is 20:1, which is higher than the leverage at other brokers and full support for the MT4 and MT5 platforms is offered. The average execution speed on this account is 0.7 seconds.

Demo Account

Users can open a training account loaded with 100,000 USD in virtual cash to make real-time transactions and refine a strategy. Demo accounts at Weltrade don’t expire, and there’s no monetary risk involved, so users have peace of mind when browsing the platforms. The broker also regularly runs demo account contests, such as the Hot 100 and Hot 200, with prizes up for grabs.

Primary Image
Secondary Image

Weltrade Deposits and Withdrawals

Weltrade offers a range of payment methods, and while deposits are free, withdrawals are expensive. 

Account Currencies and Funding Options

Although Weltrade is unregulated, it claims that all Anti-Money Laundering rules and regulations are followed. Deposits can only be made using a bank account or card registered in the trader’s name, and no third-party deposits are allowed. Withdrawals must be made to the same account or method that the funds originated.

Weltrade does not charge deposit fees, but its withdrawal fees are high. Most deposits are instant, but Weltrade takes 30 minutes to process withdrawals.

Base Currencies

Weltrade offers a limited number of base (trading account) currencies compared to other similar brokers.

Weltrade only offers two base currencies, including EUR and USD, which is limited compared to other brokers. However, the base currencies vary depending on the trading account. For example, the Pro, Zulutrade, and Digital accounts only allow accounts to be denominated in USD. Additionally, Weltrade does not offer ZMW trading accounts, which is a disadvantage for s who will likely have bank accounts denominated in ZMW, and who will have to pay currency conversion fees on deposits and withdrawals..

Overall, Weltrade offers fewer trading account currencies than most other large international brokers and doesn’t offer accounts denominated in ZMW. 

Primary Image
Secondary Image

Weltrade's Trading Platforms

With MT4 and MT5, Weltrade’s platform support is average compared to other similar brokers.

Mobile Trading Platforms

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are available on iOS, Android, and Windows mobile phones and tablets. The app will connect to the same account as the desktop software, allowing a synchronised and mobile trading experience.

However, traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.

Trading Platforms Comparison

Broker
Platform Choice
Copy Trading
Platforms
Weltrade
4.5
/ 5
Yes
MT4, MT5
Trade.com
4
/ 5
Yes
MT4, MT5, Sirix
IC Markets
5
/ 5
Yes
MT4, MT5, cTrader, TradingView

Desktop Trading Platforms

Weltrade supports the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. As the most widely used platforms on the market, they are simple to navigate yet offer a powerful range of features, charts, and analysis tools.

MetaTrader 4

MetaTrader 4 is one of the world’s most popular and versatile platforms, offering powerful features to help you make educated trading decisions. Though it is now showing its age, MT4 is still popular for its auto-trading features that enable algorithmic trading and strategy backtesting with expert advisors (trading robots). 

Other features of the MT4 include:

  • A built-in library of more than 50 indicators and tools to streamline the analysis process.
  • An impressive array of analytical tools, available in nine timeframes for each financial instrument.
  • Live price streaming on live accounts and demo accounts 128-bits encryption for secure trading
  • Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
  • Customisable alerts
  • Access to MetaTrader market and MQL4 community

MetaTrader 5

MetaTrader 5 is the latest trading platform developed by MetaQuotes Software Corp. Set to replace MT4, MT5 is more intuitive and offers significant improvements in copy trading, mobile trading, and other innovative features that make trading account management more efficient. 

Other features of MT5 include:

  • 38+ preinstalled technical indicators
  • 44 analytical charting tools
  • 3 chart types
  • 21 timeframes
  • Additional pending order types
  • Detachable charts
  • Trailing stop
  • Depth of Market
  • An integrated Economic Calendar
Primary Image
Secondary Image

Weltrade’s Research and Trading Tools

Weltrade’s trading tools are limited compared to similar brokers, and Weltrade offers no market analysis.

Trading Tools

Weltrade’s trading tools are limited to a number of autotrading tools available on the MetaTrader platforms. 

MQL5 Signals

Traders can subscribe to the MQL5 Signals through the MT5 platform. Signals is a copy-trading service that automatically copies provider’s deals on your trading account. Weltrade also offers a range of tutorials so traders can familiarise themselves with activating the services.

Zulutrade Signals

Zulutrade is a third-party service provider that allows traders to copy the signals of more experienced traders and earn a profit. To make use of Weltrade’s Zulutrade copy trading service, traders must:

  • Open a Zulutrade Account and deposit at least 200 USD.
  • Connect to the system by entering the account number and trading password in the Settings section of the ZuluTrade personal area.
  • Connect to the best providers. Orders will be executed automatically.

Note that a spread markup of 2.9 pips (EUR/USD) and a trading commission of 1.5 pips will be applied to every trade. This is relatively expensive (around 45 USD per trade), so traders should know these costs before opening a Zulutrade Account. 

Weltrade also offers a host of robots and indicators through the MT4 and MT5 platforms, some of which are free and others available at an extra cost.

Trading Tools Comparison

Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
VPS services are usually offered free with a minimum trade volume, otherwise a monthly subscription fee will apply. VPS services are usually hosted by third-party companies.
Weltrade
Yes
No
No
No
No
Trade.com
No
No
Yes
Yes
No
IC Markets
Yes
Yes
Yes
Yes
Yes

Overall, Weltrade’s trading tools are somewhat limited compared to other brokers.

Primary Image
Secondary Image

Weltrade’s Educational Material

Weltrade’s educational materials are extremely limited compared to what’s available at other similar brokers.

Weltrade for Beginners

Weltrade does not offer any written educational materials; however, beginner traders can benefit from its seminars and webinars. One has to register an account to access this material.

Education Comparison

Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Weltrade
No
No
No
Low
No
Trade.com
No
No
No
Low
No
IC Markets
Yes
Yes
Yes
High
Yes
 
Primary Image
Secondary Image

Weltrade’s Customer Service

For the purposes of this review, we found the customer support responsive and polite, but uninformed.

24/7 Customer Support

Weltrade offers support in ten languages, and help is available 24/7 via telephone, email, and live chat. Weltrade also offers a call-back option. 

How Brokers Are Scored

FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. We ensure transparency by incorporating regulator data and user insights. Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score.

  • Trust Rating: Assessment of broker reliability and reputation
  • Trading Costs: Spreads and fees for clear comparisons
  • Platforms: User-friendliness and features 
  • Asset Selection: Forex, stocks, and other available instruments
  • Deposit and Withdrawal: Simple and free deposits & withdrawals
  • Education: Support for beginners and developing traders
  • Customer Support: Accessibility, responsiveness, and expertise

 

Learn how we set the standard for broker reviews. Explore our in-depth review process here.

Weltrade Risk Statement

Weltrade Risk Statement


Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Weltrade would like you to know that: The Client understands that the risk of suffering trading losses may be quite significant. The Client should analyze his financial capabilities before engaging in trading operations. The Client agrees that the Company cannot be held responsible for the Client’s losses caused, directly or indirectly, by the government restrictions, restrictions of foreign exchange or market rules, suspension of trading, military operations, or other conditions usually called the ‘force majeure circumstances’ which lie beyond the Company’s control. The Client bears full responsibility for the risks associated with the storage of trading account access data, and must ensure that third parties cannot access the trade terminals. The Client’s losses and risks associated with the restoration of access to the trading account place no obligations on the Company, other than to provide new access data to the Client upon sufficient and unambiguous identification of the Client as the holder of this account.

Meet the Experts Behind Our Unbiased Reviews

Chris Cammack

Partner Manager and Financial Writer

Chris Cammack
Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education. With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users. He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.

Alison Heyerdahl

Head of Content

Alison Heyerdahl
Alison Heyerdahl is the Head of Content at FxScouts and an experienced financial writer with extensive hands-on experience in the Forex trading industry. She specialises in Forex trading, broker analysis, and market research, with a focus on helping traders navigate the complex world of online trading safely and confidently. Alison has tested and reviewed more than 100 Forex brokers, assessing everything from regulatory status and trading conditions to platform features and customer support. Her goal is to provide honest, detailed, and practical insights that traders can rely on when choosing a broker. She’s also produced more than 100 educational videos for the FxScouts YouTube channel, where she explains trading concepts in a clear, accessible way. As the co-host of the “Let’s Talk Forex” podcast, Alison shares expert commentary on broker reliability, trading strategies, and market developments—always with a focus on transparency and trader protection.

Ida Hermansen

Financial Writer

Ida Hermansen
Ida is a financial writer with a passion for cryptocurrencies, blockchain networks, and Forex trading. A dedicated crypto trader, she developed a deep interest in Forex technical analysis and price action, continually expanding her expertise in market trends and trading strategies. With a background in digital marketing, SEO, and content strategy, Ida combines her analytical skills with clear, engaging writing to help traders navigate the ever-evolving financial markets. She stays up to date with the latest Forex and crypto developments, researching the best trading environments for new and experienced traders alike.

Stefan de Clerk

Financial Writer

Stefan de Clerk
Stefan is a financial writer and Forex trading enthusiast with over a decade of experience creating in-depth content on finance and technology. His deep interest in geopolitical events, big data, and market sentiment fuels his passion for analyzing how global factors shape financial markets. With a background in marketing and financial research, Stefan believes that Forex trading offers the best insight into the pulse of the world economy. Committed to delivering well-researched, unbiased, and objective information, he helps traders navigate the markets with clarity and confidence.
1.
Fusion Markets
Best for Low-Cost Trading
2.
Exness
Best Trading Account Conditions for Beginners
3.
Pepperstone
Lowest Cost ECN Account
4.
IC Markets
Best ECN Broker for Beginners
5.
NAGA
Best Copy trading Platform for Beginners
6.
AvaTrade
Best Broker for Beginners
7.
XM
Lowest Fees in the Philippines
8.
HFM
Best copy trading platform
9.
FBS
ECN Account with Negative Spreads
10.
Tickmill
Lowest Commission STP/ECN Broker

Others Also Viewed

Explore more resources that fellow traders find helpful! Check out these other guides to enhance your forex trading knowledge and skills. Whether you’re searching for the best brokers, educational material, or something more specific, we’ve got you covered.

Best Brokers in the Philippines

Discover the top Forex brokers in the Philippines. Compare top platforms, fees and features to make an informed trading choice.

How does Forex Trading Work?

What is Forex trading and how does it work? An easy-to-read guide including how to trade, and how to choose a reliable broker.

Forex Brokers for Beginners

Explore the best Forex brokers for beginners in the Philippines with user-friendly platforms, educational resources, and demo accounts.

Listen to our Podcast!

Let's Talk Forex

Listen to our Podcast!


Ready to have your forex knowledge amplified? Tune in to “Let’s Talk Forex,” a podcast designed for traders of all levels. From market analysis and trading strategies to interviews with industry experts, this podcast covers the breadth of the forex landscape. Join the conversation and discover insights that can help you navigate the exciting world of currency trading.

Polygon icon
Polygon icon