Is Weltrade Regulated?

By JForex78, from United States, September 28, 2019 at 03:06 PM

Can you submit your research on weltrade broker ? Thanks.

Answer: Hi JForex78,

Weltrade is an offshore Forex broker. It is owned and operated by Systemgates Ltd., registered and based in Saint Vincent and the Grenadines. Offshore-based unregulated brokers are not obliged to follow any rules and most often they are involved in a scam.

In addition, Weltrade claims to have offices in 9 different countries and provides a British contact phone number. However, we haven’t found any information about broker’s licenses in the UK or any other country.

It is NOT safe to deal with this unregulated offshore broker. We recommend you to stay away from Weltrade and if you look for a regulated firm to invest with, you can check the list of the reputable brokers.

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