Weltrade

Weltrade operates under several entities across different jurisdictions. Below is a breakdown of the key oversight arrangements and what they mean for traders.

• Weltrade Ltd – Company incorporated in Saint Lucia (IBC No. 2023‑00055) and governed under Saint Lucia laws (not a Tier‑1 financial regulator).
• Systemgates Ltd – Registered via the Financial Services Authority (St. Vincent & the Grenadines) (FSVGSA) – a jurisdiction seen as offshore with lower regulatory safeguards.

While Weltrade holds registration in St Lucia and St Vincent, the absence of oversight by top‑tier authorities (such as the UK’s Financial Conduct Authority (FCA) or Australia’s Australian Securities & Investments Commission) means that the level of investor protection is comparatively lower.

The account opening process at Weltrade is user-friendly, fully digital and accounts are ready for trading immediately. Be aware that clients residing in the UK, EU or India are not eligible to open accounts with Weltrade.

New clients have to meet the following minimum deposit requirements:

• Micro Account: 25 USD
• Pro Account: 100 USD
• SyntX Account: 1 USD

WELTRADE offers a wide range of trading instruments with leverage options tailored by account type, instrument class, and trading volume. Here’s an overview:

• Forex (major & minor pairs): Standard accounts offer leverage up to 1:1000, which decreases with higher position sizes.
• Indices: Leverage up to 1:500, with tiered reductions for larger trades.
• Commodities: Includes gold, silver, oil and others – leverage up to 1:500, scaled down at higher volumes.
• Cryptocurrencies (CFDs): Leverage up to 1:100, tapering to 1:50, 1:25 or 1:10 as exposure increases.
• Equities (CFDs on global shares): Leverage generally capped at 1:100, depending on stock and regulation.
• SyntX Account (Forex only): Offers extreme leverage up to 1:10,000 on synthetic indices – a high-risk trading account.

Note: The SyntX account is intended for experienced traders and carries significantly higher risk. Always evaluate leverage settings based on your strategy and risk tolerance. Standard leverage levels vary by instrument, client region, and regulatory jurisdiction.

The trading costs on the Pro account are lower than those of the other account types and lower than those of other brokers.  Most other brokers have a trading cost of 9 USD per lot of EUR/USD traded. However, the Pro Account has a minimum deposit requirement of 500 USD.  

The trading costs on the Micro and Premium accounts are 15 USD, which are higher than the costs on other brokers’ entry-level accounts.  The Zulutrade account also charges a spread mark-up and trading commission, rendering it an expensive option.  

Swap Fees

Another important cost to consider is the swap rate charged on positions held overnight.   Interest is paid (or received) for each night a position is held. When trading a currency, you are borrowing one currency to purchase another. The swap interest fee is calculated based on the difference between the two interest rates of the traded currencies.

The swap fees are published alongside each instrument for both the long and short positions.  For example, the swap rate for holding a long position of EUR/USD open for one night is -0.75 USD, and a short position is +0.10 USD.

MetaTrader4 (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.  

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

Overall, although Weltrade only offers the Metatrader suite of platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, MT4 and MT5 are considered some of the best third-party platforms in the industry.

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.

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. 

For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with a GBP account, there will be a small conversion fee for every trade made.

MQL5 Signals

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

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.

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