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Weltrade Weltrade Review

Weltrade Review: forex spread, slippage, leverage and trading platforms information

RATING: 1.8 / 1 REVIEWS ForexBrokerz Weltrade
Weltrade is an offshore broker. Your money is not safe.

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Weltrade execution and slippage

0.69 pips

Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be. 

 
Our slippage data about Weltrade is sampled by 10 of the most popular forex trading strategies in Zulutrade.com.
1.85 pips

Weltrade slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Average profit:                14.0 pips
Average trade lifespan:  19 hours
Most traded pairs:               EUR/USD, GBP/USD and USD/CHF

 

0.06 pips

Weltrade slippage with Saved FX trading strategy

Average profit:                  16.0 pips

Average trade lifespan:    1 day

Most traded pairs:                 EUR/USD, GBP/USD, USD/CHF
0.62 pips

Weltrade slippage with Qurenix trading strategy

Average profit:                  9.0 pips

Average trade lifespan:  5 hours

Most traded pairs:             EUR/USD
1.31 pips

Weltrade slippage with Forex Cruise Control trading strategy

Average pips/trade:           5.0

Average trade lifespan:   18 hours

Most traded pairs:              GBP/USD
0.72 pips

Weltrade slippage with For333 trading strategy

Average pips/trade:           12.0

Average trade lifespan:   15 hours

Most traded pairs:              GBP/USD, EUR/USD, AUD/USD
0.03 pips

Weltrade slippage with Azar Consulting trading strategy

Average profit:                   28.0 pips

Average trade lifespan:   3 days

Most traded pairs:               EUR/USD
1.01 pips

Weltrade slippage with The Best Player trading strategy

Average profit:                  22.0 pips

Average trade lifespan:   13 hours

Most traded pairs:               EUR/USD
0.19 pips

Weltrade slippage with Xiaolidao trading strategy

Average pips/trade:           9.0 pips

Average trade lifespan:   1 day

Most traded pairs:               EUR/USD
0.41 pips

Weltrade slippage with Youron trading strategy

Average profit:                  9.0 pips

Average trade lifespan:   11 hours

Most traded pairs:               EUR/USD, GBP/USD
0.65 pips

Weltrade slippage with Duanxian(GBP\USD) trading strategy

Average profit:                      10.0 pips

Average trade lifespan:      1 days
 
Most traded pairs:                   EUR/USD, NZD/USD, GBP/USD

Trading Accounts

 

Account type  Minimum deposit  Minimum trade size Maximum leverage   Average Spread
Micro $25  0.01  1:1000 Fixed, 2 pips / Floating from 1.9 pips 
Promium $200 0.01 1:1000  Fixed, 2 pips / Floating from 1.9 pips 
Pro $1000 0.01 1:1000  Floating, from 0.5 pips 
ZuluTrade $500 0.01 1:1000  Fixed, 2.9 pips + 1.5 points /lot
PAMM  $200 0.01 1:1000  Fixed, 2 pips 


Weltrade offers three basic account types: Micro, Premium and Pro. All of them are commission-free and offer leverage up to 1:500, as well as micro lots for trade.


What is more, Weltrader has partnered with Zulutrade – one of the oldest and most popular social trading platforms - in order to provide its clients with the option to follow signals of professional traders for automatic control of their accounts.

 

The Company. Security of Funds


Operating since 2006, Weltrade (formerly, SystemForex) is an offshore broker offering trading in currency pairs, various CFDs, as well as precious metals through the popular MetaTrader 4. Currently the broker provides its services to customers from 18 countries, operating offices in Russia, Ukraine, Belarus and Thailand.


Systemgates Capital Ltd., which owns the brand Weltrade is registered on the St. Vincent and the Grenadines, but does not hold any license and don’t have to comply with any requirements as regards minimum capital or segregation of client’s’ funds, for instance.


If you intend to invest a large amount of money, we would advise you to select a forex broker licensed in UK, Cyprus, US for instance, where regulation is strict and there are compensation schemes, which will protect your money if your broker becomes insolvent.


Trading Conditions


Minimum Initial Deposit

The minimal sum required to open an account with Weltrade is $25, a low initial amount, which is reasonable, considering the liberal regulation. In comparison, ForexBrokerInc, formerly registered in Belize, requires $100 from its customers as a start, and LiteForex - just $10.


Average Spreads & Commissions
This broker offers both fixed and variable spreads and all account types, except the ZuluTrade one, are commission-free. Fixed spreads amount to 2 pips on EUR/USD, which is average, and floating ones are tight, start from 0.5 pips on EUR/USD. Such fixed spread is considered average for the forex market. In comparison, ForexBrokerInc provides spreads averaged 0,7 pips on EUR/USD + 1 pip commission.


You may look up real-time spreads of 15 leading brokers here.


Maximum Leverage

The maximum leverage rates at Weltrade are high, reaching 1:1000. In comparison, ForexBrokerInc offers leverage up to 1:500. Here you may look up more forex brokers offering leverage equal to or exceeding 1:500


However, many jurisdictions set limitations on leverage, which are considerably lower, for instance 1:50 in USA and 1:25 in Japan. The reason for this is that trading on margin involves a risk of heavy losses, exceeding the initial investments and that is why traders should exercise caution when operating with high leverage levels.


Trading Platforms


Weltrade offers both MetaQuotes' platforms - MetaTrader 4 and MetaTrader 5.

 

MetaTrader 4 (MT4) is still the preferred choice of most experienced traders. The platform offers all a trader needs: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive EA back-testing options. Traders can download ready-made or create their own automated trading strategies and simply let the program do all the work. VPS service is also available, allowing clients to trade 24 hours a day 5 days a week even if their computers are off.

 

MetaTrader 5 also offers innovative functionality: multicurrency strategy tester, "market depth" function, built-in MQL5 store, new types of pending orders, and also higher execution speed.

 

Clients of WelTrade who would like to make use of auto trading, but shun ZuluTrade, can check out Metatrader trading signals – another possibility to copy the signals of successful traders.


What is more, this broker offers MetaTrader 4 MultiTerminal, which is mostly helpful for those who manage investors’ accounts and for traders working with many accounts simultaneously.


Bonuses & Promotions
At the time of writing of this review, this broker runs the following promotions:


- 100% Welcome Bonus on first deposit over 200 USD/EUR;
- Free iPhone 6S for clients with deposits of a minimum of $5000 and 450 lot trading volume.


Methods of Payment


Clients of Weltrade are offered a variety of payment modes: Credit/debit cards (Visa, MasterCard), bank wire transfer, and the following e-wallets: Skrill, Neteller, QIWI, Yandex, CashU, FasaPay, Perfect Money, Деньги, OKPAY, EasyPay, liqpay.com, QIWI, monetaRU.

All deposit methods are free of charge with this broker.


Conclusion


Weltrade is an unregulated, offshore broker and that significantly lowers its credibility. To sum up the above, here are the advantages and drawbacks with regard to this broker:

 

Pros  Cons
Low initial deposit required No regulation
MT4 and MT5 available  
High leverage levels offered   
Bonuses offered  

 

Latest news about Weltrade
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Traders` reviews for Weltrade

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

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