1. What is WelTrade?
  2. WelTrade Pros and Cons
  3. Is WelTrade Safe or a Scam?
  4. Leverage
  5. Accounts
  6. Instruments
  7. Fees
  8. Spreads
  9. Deposits and Withdrawals
  10. Trading Platform
  11. Customer Support
  12. Education
  13. Conclusion

Our Review Method

  • 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, regulations and licenses, fees, spreads, platforms, customer service, and placed traders to see trading conditions and give expert opinions about WelTrade.

What is WelTrade?

WelTrade is an online Forex trading broker that provides a range of popular trading instruments across various asset classes such as Forex, metals, commodities, index CFDs, and CFD for digital instruments.

Established in 2006, the company operates under the authorization and regulation of the reputable South African Financial Sector Conduct Authority (FSCA), which ensures compliance with regulatory standards. Besides, the broker is registered and manages subsidiary enterprises in both Saint Lucia and Saint Vincent and the Grenadines, so offers its service Internationally and across the African region, catering to a wider geographical area, as well as about 60,000 traders around the world in more than 20 regions.

Based on our research, Weltrade is a suitable option for traders at all skill levels as it offers competitive trading conditions, advanced trading platforms, and a variety of funding methods.

WelTrade Pros and Cons

Per our findings, the company has several pros and cons for traders to consider. As an advantage, it provides popular MetaTrader trading platforms, competitive trading services, and a low minimum deposit requirement. Additionally, being a South African broker, it is available to traders from the African region, including countries like Namibia and Tanzania.  Additionally, Weltrade offers 24/7 customer support and an extensive selection of educational resources, seminars, and the Weltrade Academy.

For the cons, Weltrade does not hold any top-tier license and is regulated by only one regulatory body, which could be a drawback for some traders with the inability to open an account with multiple regulatory authorities, yet trading under South African entity is still considered safe enough. Also, the broker has a limited variety of trading instruments and markets for traders.

FSCA regulation and overseeLimited trading products
Low minimum depositNo additional and top-tier license
MT4 and MT5 trading platforms
Variety of funding methods
Forex education
24/7 customer support

WelTrade Review Official Website

WelTrade Review Summary in 10 Points
🏢 HeadquartersRepublic of Ireland, Latvia
🗺️ RegulationFSCA
🖥 PlatformsMT4, MT5
📉 InstrumentsForex, metals, commodities, index CFDs, and CFDs for digital instruments (Bitcoin, Litecoin, and Ethereum)
💰 EUR/USD Spread1.05 pips
🎮 Demo AccountAvailable
💳 Minimum deposit$1
💰 Base currenciesUSD, EUR, GBP
📚 EducationProvided
☎ Customer Support24/7

Overall WelTrade Ranking

According to our analysis, the broker offers competitive trading solutions that cater to traders of all skill levels. Additionally, clients of Weltrade have the chance to engage in the trading of widely recognized financial assets through advanced trading platforms, and they can take advantage of the broker’s convenient and streamlined deposit and withdrawal procedures along with well-established trading conditions.

  • WelTrade Overall Ranking is 7.9 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
Our Ranking ⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantagesTrading PlatformsTrading FeesTrading Conditions

WelTrade Alternative Brokers

In your search for alternative brokers to Weltrade, take into account multiple factors including trading features, regulatory compliance, fees, available markets, and user reviews. Based on our analysis, we have compiled a list of potential brokers that you can consider as alternatives.


Per our findings, Weltrade has been recognized and awarded over time. We have included a screenshot of some of these awards below.

WelTrade Review Awards

Is WelTrade Safe or Scam?

No, Weltrade is not a scam. It operates as a regulated brokerage company under the oversight of the South African FSCA. This regulatory authorization suggests that the company operates within the legal framework and is subject to certain industry standards.

Is WelTrade Legit?

Yes, WelTrade is a legit and regulated broker.  

The broker’s legitimacy can be supported by several factors. Firstly, the company is authorized and regulated by the FSCA, which is considered a good regulatory body in the financial industry even though is not top-tier like FCA or ASIC.

Additionally, the broker has been in operation since 2006, which demonstrates a certain level of establishment and continuity in the industry. However, the broker does not possess additional licenses, so assess your individual needs, preferences, and risk tolerance to determine if the broker is the right fit for you.

See our conclusion on WelTrade Reliability:

  • Our Ranked WelTrade Trust Score is 7.9 out of 10 for the good reputation and services provided. We recommended conducting your research, reviewing customer feedback, and considering personal factors before deciding to engage with the brokerage company.
WelTrade Strong PointsWelTrade Weak Points
Client funds securityNo top-tier license
Professional trading
Negative balance protection

Trading Protection

Based on our research, FSCA plays an important role in ensuring regulatory compliance in the financial services industry. As part of its oversight, the regulatory body requires brokers to keep client funds separate from their own accounts, providing protection for clients, as their funds cannot be used for the broker’s operational purposes. Additionally, Weltrade provides negative balance protection, which ensures that clients do not incur losses exceeding their account balance.

Yet, the firm is not authorized by a top-tier regulatory body, so the protection is lower than compared to top-tier authorities even though still considered a safe option for South African trading. 

WelTrade Review License

WelTrade Leverage

Trading with leverage can be advantageous as it allows traders to access the market with a smaller initial investment. However, you should have a thorough understanding of how leverage works and the potential risks involved before engaging in leveraged trading.

WelTrade leverage is offered according to the FSCA regulation:

  • Trades from South Africa are eligible to use low leverage up to 1:30 for major currency pairs. However, the website states the potential for higher leverage of up to 1:1000, so understanding the implications and risks associated with leverage is crucial before making decisions about its use in trading.

Account Types

We found that traders can choose among Micro, Pro, and Premium Account types while trading at Weltrade. The initial deposit required for Micro Account is $1. Additionally, swap-free trading is also available to the broker’s clients.

Fast and easy account openingNone
Swap-free and Demo accounts
Initial deposit amount is $1

Opening WelTrade Trading Account

Opening an account with a broker is considered quite an easy process, as you can log in and register with WelTrade within minutes. Just follow the opening account or sign-in page and proceed with the guided steps:

  • Select and Click on the “Open an Account” page
  • Enter the required personal data (Name, email, phone number, etc.)
  • Verify your personal data by uploading documentation (residential proof, ID, etc.)
  • Complete the electronic quiz confirming your trading experience
  • Once your account is activated and proven, follow with the money deposit.

WelTrade Review Account Types

Trading Instruments

The broker provides access to popular trading instruments, including Forex, metals, commodities, index CFDs, and CFDs for digital instruments such as Bitcoin, Litecoin, and Ethereum. Also, traders have a wide range of options to participate in different markets based on their preferences and strategies.

  • WelTrade Markets Range Score is 6.9 out of 10 for famous trading product selection. On the other hand, we found that many popular asset classes such as stocks, futures, bonds, and ETFs are not available to trade.

WelTrade Fees

According to our findings of the broker’s fee structure, Weltrade offers competitive pricing for most trading services. The broker does not charge fees for deposits, however, there might be some charges for withdrawals, depending on the chosen funding method. Therefore, we advise you to thoroughly review the broker’s fee structure and terms and conditions to gain a complete understanding of the applicable charges and their potential impact on trading activities.

  • WelTrade Fees are ranked average with an overall rating of 7.8 out of 10 based on our testing and compared to over 500 other brokers.
FeesWelTrade FeesCapTrader FeesAximTrade Fees
Deposit feeNoNoNo
Withdrawal feeYesYesNo
Inactivity feeYesYesNo
Fee rankingAverageLow/AverageLow/Average


Based on our test trade, the broker offers competitive variable spreads, with an average spread of 1.05 pips for the EUR/USD currency pair in the Forex market. However, spreads can vary based on market conditions, volatility, and liquidity, so consult the broker’s website or contact their customer support for detailed information on the spreads they offer for specific instruments and account types.

  • WelTrade Spreads are ranked average with an overall rating of 7.5 out of 10 based on our testing comparison to other brokers. We found forex spreads are nearly in line with the industry standard which is 1.2 pips. Other spreads are favorable too, see below the table of spreads offered by the broker.
Asset/ PairWelTrade SpreadCapTrader SpreadAximTrade Spread
EUR USD Spread1.05 pips0.1 pips1.1 pips
Crude Oil WTI Spread9.80315
Gold Spread20.8514

WelTrade Review Spreads

Deposits and Withdrawals

There are a variety of funding methods available for traders allowing them to deposit funds into trading accounts, which is definitely a benefit. These include Bank Wire, Credit/Debit cards, Skrill, Neteller, and Crypro. However, some payment methods may have specific requirements or restrictions depending on the client’s bank or other financial institutions involved.

  • WelTrade Funding Methods we ranked good with an overall rating of 8 out of 10. Fees are low, and also you can benefit from various account-based currencies.

Here are some good and negative points for WelTrade funding methods found:

Fast digital depositsWithdrawal fees
No deposit fees
Multiple account base currencies

WelTrade Minimum Deposit

To open a live trading account with the broker, clients need to deposit $1 as an initial deposit amount for Micro accounts, which is considered a very good offering, yet is good to check margins for instruments you wish to trade. For Pro account, the minimum deposit amount is $100, and for Premium account is $25.

WelTrade minimum deposit vs other brokers

WelTrade Most Other Brokers
Minimum Deposit $1 $500

WelTrade Withdrawals

As we found withdrawing funds from your account is easy and fast. Typically, your withdrawal request will be processed within 30 minutes, 24/7.

Withdraw Money from WelTrade Step by Step:

To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:

  1. Login to your account
  2. Select Withdraw Funds’ in the menu tab
  3. Enter the withdrawn amount
  4. Choose the withdrawal method
  5. Complete the electronic request with necessary requirements
  6. Confirm withdrawal information and Submit
  7. Check the current status of withdrawal through your Dashboard

WelTrade Review Payment Methods

Trading Platforms

At Weltrade, you can trade through the widely popular MT4 and MT5 trading platforms, known for their strong features, intuitive interface, advanced charting tools, and extensive trading capabilities. The platforms are accessible on desktop, web, and mobile devices, allowing traders to select the option that suits their individual trading preferences and strategies.

  • WelTrade Platform is ranked good with an overall rating of 8.5 out of 10 compared to over 500 other brokers. We mark it as good since it offers popular MT4 and MT5 trading platforms, yet does not have any other alternative.
PlatformsWelTrade PlatformsCapTrader PlatformsAximTrade Platforms
Own PlatformsNoYesNo
Mobile AppsYesYesYes

Trading Tools

These platforms provide a variety of advanced charting tools, analytical technologies, trading signals, technical indicators, and other tools which is definitely an advantage to any trader. Additionally, MT4 and MT5 offer automated trading capabilities, empowering traders to detect market movements and improve their market entry and stop-loss strategies.WelTrade Review Trading Platforms

Customer Support

The broker offers 24/7 customer support via a phone line, live chat, and email ensuring assistance is available at any time. The support team is capable of helping with technical inquiries, analysis recommendations, general questions, and operational matters.

  • Customer Support in WelTrade is ranked good with an overall rating of 8 out of 10 based on our testing. The support team is responsive during working days and weekends, ensuring efficient assistance.

See our find and ranking on Customer Service Quality:

24/7 customer supportNone
Email, phone, live chat
Relevant answers

WelTrade Review Customer Support

WelTrade Education

Finally, traders have the advantage of accessing a diverse selection of educational materials, including webinars and seminars, market news and analysis, economic calendar, and Weltrade Academy. The academy provides courses for beginners and advanced traders, as well as news and Ebooks.

  • WelTrade Education ranked with an overall rating of 8.9 out of 10 based on our research. We found that the broker offers good-quality educational materials, research, and analysis suitable for both beginners and professional traders to enhance their trading strategies knowledge.

WelTrade Review Education

WelTrade Review Conclusion

In conclusion, Weltrade is a quite good online Forex trading broker that offers competitive trading solutions, advanced trading platforms, and low fees and spreads. Additionally, the broker offers a wide range of educational materials and research resources to support traders in expanding their knowledge and staying informed about the market, as well as 24/7 customer support. Another advantage is the low minimum deposit requirement and the availability of different payment methods.

While the broker provides a good trading environment, we recommend carefully reviewing the broker’s offerings, terms, and conditions and evaluating whether the broker’s offerings suit your specific trading requirements.

Based on Our findings and Financial Expert Opinions WelTrade is Good for:

  • Traders from South Africa and African Region
  • Traders who prefer the MT4 and MT5 trading platforms
  • Currency trading
  • Beginners
  • Advanced traders
  • Islamic traders
  • International trading
  • Swap-free trading
  • Low fees
  • STP execution
  • Good trading tools
  • 24/7 customer support

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