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Weltrade Review

Overall, Weltrade is very competitive regarding its trading fees and spreads. Weltrade is a multi-regulated forex broker headquartered in South Africa. SVG FSA and the FSCA regulate Weltrade. Weltrade has a Trust Score of 89% out of 100.

Updated : November 8, 2022

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Overall Rating

Min Deposit

–

Regulators

–

Trading Desk

–

Crypto

Yes

Total Pairs

–

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on Weltrade’s website

Weltrade Review – 17 key points quick overview:

Summary

👉 Overall, Weltrade is considered low risk, with an overall Trust Score of 89 out of 100. Weltrade is licensed by zero Tier-1 Regulator (high trust), one Tier-2 Regulator (average trust), and one Tier-3 Regulator (low trust). Weltrade offers six retail trading accounts: a Micro Account, Universe Account, Premium Account, Pro Account, Digital Account, and ZuluTrade Account.

👉 Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all Namibian investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital that you cannot afford to lose because you could incur a loss of part or your entire original investment.

Overall

👉 Weltrade accepts Namibian clients and has an average spread from 0.0 pips with commissions of 1.5 points on the ZuluTrade CopyTrading Account. In addition, Weltrade has a maximum leverage ratio of up to 1:1000, and a demo and Islamic account are available.

👉 Weltrade Terminal, MetaTrader 4, and MetaTrader 5 platforms are supported. Weltrade is headquartered in Saint Vincent and the Grenadines and regulated by SVG FSA and FSCA.

Analysis of Weltrade’s Main Features

➡️ Order Execution	4/5
➡️ Commissions and Fees	4/5
➡️ Range of Markets	4/5
➡️ Variety of Markets	3/5
➡️ Withdrawal Speed	4/5
➡️ Customer Support	5/5
➡️ Trading Platform	4/5
➡️ Education	1/5
➡️ Research	2/5
➡️ Regulation	3/5
➡️ Mobile Trading	4/5
➡️ Trust Score	89%

Top 3 Weltrade User Reviews

➡️ On Forex Peace Army, Weltrade has 11 reviews with an overall rating of 1.5/5.

➡️ On Myfxbook, Weltrade has 70 votes and an overall rating of 3.7/5.

➡️ On Trustpilot, Weltrade has 21 reviews and an overall rating of 3.8/5.

👉 “Weltrade is a partner with HitBTC so I open an Crypto account with them. So far, I like how their Price Quote feeds. It seems it’s an ECN or bots quotes and re quoting which is great for advance market players!” – risingzombi – Orjansted, Aruba (quoted verbatim – Forex Peace Army)

👉 “I participated in the trading competition and i won one of the positions, and I found that they excluded me for no reason, and when I found out with technical support, they finished the conversation and sent them a lot of messages, but they never answered me.” – Ahmed1119 – February 2021 (quoted verbatim from Forex Peace Army)

👉 “I have been using Weltrade for a few months now and have been doing well with this broker. I made some deposits and withdrawals in XRP for cryptocurrency exchanges, and I had no problems. I think that to get better, it would be interesting to have stocks and indexes. Support responds fast. It’s good for now” Durval – Alagoas Brazil (quoted verbatim – Forex Peace Army)

Latest Existing/Previous Customer Comments on Weltrade for 2024

👉 Michel – “Best execution for BTCUSD only 15$-25$ spreads no commission high leverage quick gains. Weekly 2 lot trading trade2win competition cash prize” – March 2024 (quoted verbatim – Trust Pilot)

👉 Benlamin Rakov – “Bonuses are written off when you make an internal transfer.” (Quoted verbatim from Trustpilot)

👉 Armanavatar – “Weltrade manipulates the spread so as accounts could not withstand. In my case it was 1600 percent increase equaling to 2.42 USD spread. Insane” (Quoted verbatim from Forex Peace Army)

👉 Trader_winner – “I love this broker! Great offers, perfect support team. I am happy that 1 year ago I choose Weltrade broker. And I am still with it.” – October 2021 (quoted verbatim – Trust Pilot)

👉 Sharre O – “1:1000 leverage no commission deposit 30 minutes withdrawal what more required to join I have been their client from 2018 always best 24/7 support immediately solution for issues” – March 2024 (quoted verbatim – Trust Pilot)

Detailed Summary of Weltrade

👉 Weltrade has been operating since 2006 and was previously known as SystemForex. The organization is an offshore broker that also offers trading in precious metals and numerous currency pairs and CFDs.

👉 Traders can conduct transactions using the MetaTrader 4 platform. Weltrade has offices in Thailand, Vietnam, and Ukraine, as well as in more than 18 countries worldwide.

👉 Weltrade is a trademark that belongs to Systemgates Capital Ltd. The company holds licenses for financial trading, commodity derivatives, and FSCA and SVG FSA-issued securities.

Advantages that Weltrade has over competitors

➡️ There are variable spreads that start from zero pips.

➡️ Namibians can access powerful trading software through mobile devices, web browsers, and desktop computers.

➡️ Using robots and indices, Namibians can participate in algorithmic trading.

➡️ The website provides free statistics and the latest market and currency news.

➡️ Traders can earn interest on specific accounts.

➡️ Namibian clients are frequently rewarded with contests and promotions.

Who will Benefit from Trading with Weltrade?

👉 Despite Weltrade’s newcomer-friendly solutions, its lack of documentation may put off certain users. In addition, since Weltrade’s spreads are so low compared to those of other brokers, it is best suited to traders that employ high-frequency trading tactics.

Trading with Weltrade Pros and Cons

✔️ Pros	❌ Cons
Support for cryptocurrencies is provided, and withdrawals are completed in around 30 minutes.	A scarcity of educational resources.
Generous bonuses are offered as rewards for active traders.	No individual shares or indexes are available.
New traders can start with cheap initial deposits and high leverage with a Micro Account.	There is no NAD-based account.
Commission-free and with minimal trading costs.	There are costs for inactivity, currency exchange, and withdrawal.

Weltrade Geographic Reach and Limitations

👉 Weltrade currently has the largest market share in these countries:

➡️ Thailand – 37.8%

➡️ United Arab Emirates – 21.4%

➡️ Russian Federation – 7.1%

➡️ Ukraine – 5.5%

➡️ Malaysia – 4.2%

Weltrade Current Expansion Focus

➡️ Europe

➡️ Asia

Countries not accepted by Weltrade

➡️ United States

➡️ Canada

➡️ Belarus

➡️ Russia

Popularity among traders who choose Weltrade

👉 Weltrade does not occupy a large portion of the Namibian forex and CFD market. However, despite its lack of presence in the country, Weltrade is one of the top 200 brokers for Namibian traders.

Weltrade Geographic Reach and Limitations

👉 Weltrade currently has the largest market share in these countries:

➡️ Thailand – 37.8%

➡️ United Arab Emirates – 21.4%

➡️ Russian Federation – 7.1%

➡️ Ukraine – 5.5%

➡️ Malaysia – 4.2%

Weltrade Current Expansion Focus

➡️ Europe

➡️ Asia

Countries not accepted by Weltrade

➡️ United States

➡️ Canada

➡️ Belarus

➡️ Russia

Popularity among traders who choose Weltrade

👉 Weltrade does not occupy a large portion of the Namibian forex and CFD market. However, despite its lack of presence in the country, Weltrade is one of the top 200 brokers for Namibian traders.

Weltrade At a Glance

🏛 Headquartered	Saint Vincent and the Grenadines
🏙 Local office in Windhoek?	Saint Vincent and the Grenadines
✅ Accepts Namibian Traders?	Yes
🗓 Year Founded	2006
📞 Namibian Office Contact Number	None
🤳 Social Media Platforms	• Facebook
⚖️ Regulation	SVG FSA, FSCA
🪪 Regulatory Licenses	• South Africa – FSP 46632 • Cyprus – 183/12 • Dubai – F004885 • Seychelles – SD015 • United Kingdom – 801701 • Mauritius – 094286/GBL • Kenya – CMA license 155
Registrations	• France ACPR – 53684 • Germany BaFin – 132342 • Hungary MNB – K8761153 • Italy CONSOB– 3673 • Norway – FT00080085 • Spain CNMV – 3427 • Sweden FI – 31987 • Austria FMA • Bulgaria FSC • Croatia HANFA • Czech Republic CNB • Denmark • Finanstilsynet • Estonia FSA • Finland FSA • Greece HCMC • Iceland FME • Central Bank of • Ireland • Latvia FKTK • Liechtenstein FMA • Lithuania Lietuvos • Bankas • Luxembourg CSSF • Malta MFSA • Poland KNF • Portugal CMVM • Romania ASF • Slovakia NBS • Slovenia ATVP
⚖️ BoN Regulation	No
🚫 Regional Restrictions	United States, Canada, Russia, Belarus
☪️ Islamic Account	Yes
💻 Demo Account	Yes
🛍 Retail Investor Accounts	6
📊 PAMM Accounts	No
🤝 Liquidity Providers	Unknown
💸 Affiliate Program	Yes
📲 Order Execution	Market
📊 Average spread	0.0 pips
📞 Margin Call	20% – 40%
🛑 Stop-Out	10% – 20%
✅ Crypto trading offered?	0.01 lots
💰 Offers a NAD Account?	150 lots
👨‍💻 Dedicated Namibian Account Manager?	No
📊 Maximum Leverage	1:1000
🚫 Leverage Restrictions for Namibia?	None
💰 Minimum Deposit	18 NAD ($1)
✅ Namibian Dollar Deposits Allowed?	Yes
📊 Active Namibian Trader Stats	150,000+
👥 Active Namibian-based Weltrade customers	Unknown
💳 Namibia Daily Forex Turnover	Unknown, overall Forex Daily Trading Volume is over $6.6 Trillion
💵 Deposit and Withdrawal Options	• Credit/Debit Card • Skrill • Neteller • Crypto • Perfect Money • Indonesian Local Bank • Fasapay
🏦 Segregated Accounts with Namibian Banks?	No
📊 Trading Platforms	• Weltrade terminal • MetaTrader 4 • MetaTrader 5
✔️ Tradable Assets	• Forex • Share CFDs • Indices • Cryptocurrency • Metals • Energies
💸 Offers USD/NAD currency pair?	No
📈 USD/NAD Average Spread	N/A
📉 Offers Namibian Stocks and CFDs	None
🗣 Languages supported on Website	Multilingual
📞 Customer Support Languages	Multilingual
⏰ Customer Service Hours	24/7
👥 Namibian-based customer support?	No
✅ Bonuses and Promotions for Namibians	Yes
📚 Education for Namibian beginners	Yes
📱 Proprietary trading software	No
💰 Most Successful Namibian Trader	Michael Amushelelo (Net Worth Unknown)
✅ Is Weltrade a safe broker for Namibians?	Yes
📊 Rating for Weltrade Namibia	8/10
🤝 Trust score for Weltrade Namibia	89%
👉 Open an account	👉 Open Account

Weltrade Regulation and Safety of Funds

Weltrade Regulation in Namibia

👉 The local market regulators in Namibia are as follows:

➡️ The Bank of Namibia (BoN)

👉 While Weltrade is regulated globally, the broker does not yet have local regulations or licenses in Namibia. However, Weltrade is a popular and trustworthy broker that accommodates Namibian traders.

Weltrade Global Regulations

👉 Weltrade is well-regulated in both South Africa and Saint Vincent and the Grenadines as follows:

➡️ Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) has issued the business Systemgates Ltd. with a license. The company’s registration number is 24513.

➡️ The Financial Sector Conduct Authority (FSCA) of South Africa has issued license number 50691 to Weltrade SA (PTY) Ltd., allowing it to function as a regulated Financial Service Provider in that country. The number 2019/33494/07 was assigned to this registration when it was completed.

How Weltrade Protects Traders and Client Funds

👉 It is safe to say that Weltrade is an honest and dependable broker. SSL technology is implemented in MT4 and MT5 to provide full encryption of user data. During the process of logging in, users also have the option to verify their identities via email or phone.

👉 This adds another layer of defence against potential threats. In addition, transactions can be done in the Cashier portion of the personal area of the website.

Security while Trading

➡️ Weltrade maintains the segregation of client funds and secures client information by encrypting it using software and requiring a second authentication factor. This protects both the client’s privacy and the client’s assets.

➡️ Retail accounts automatically have protection against having a negative balance as a standard feature.

➡️ The Margin Call and Stop-out policy are implemented when a client’s account balance falls below a specified threshold.

➡️ Weltrade does not indicate that Investor Protection is provided if the broker falls into financial hardship, goes bankrupt, or is otherwise unable to meet its financial obligation.

Weltrade Awards and Recognition

👉 According to Weltrade’s website, the company has been recognized for the following honours in recent years as a broker:

➡️ Most Dependable Forex Broker in Asia (2021)

➡️ Best Foreign Broker (2019)

➡️ Best Customer Service (2017)

➡️ Best Affiliate Program (2015)

➡️ Best Trade Execution (2015)

Weltrade Account Types and Features

👉 Six distinct account options are available on Weltrade, each catering to a different trading requirement. These accounts are:

➡️ Micro Account

➡️ Universe Account

➡️ Premium Account

➡️ Pro Account

➡️ Digital Account

➡️ ZuluTrade Account

👉 Except for the ZuluTrade copy trade account, the firm does not provide a super-low spread ECN account or any other type of account that incurs a commission.

💻 Live Account	💵 Minimum Dep.	💰 Average Spread	💸 Commissions	📊 Average Trading Cost
Micro	18 NAD / 1 USD	1.5 pips	None	15 USD
Universe	18 NAD / 1 USD	0.5 pips	None	5 USD
Premium	450 NAD / 25 USD	1.5 pips	None	15 USD
Pro	1,800 NAD / 100 USD	0.5 pips	None	5 USD
Digital	900 NAD / 50 USD	2 pips	None	0.2 USD
ZuluTrade	3,600 NAD / 200 USD	2.9 pips	1.5 pips	44 USD

👉 The minimum leverage available for Pro account holders is 1:1. Clients can begin with leverage of 1:3 on their crypto accounts. To clarify, if one selects leverage of 1:1, they will be trading with the same amount of money as they have in their account.

👉 Because the Crypto account is designed for trading cryptocurrency, it is expected that the maximum leverage available is 1:20. The ZuluTrade account provides leverage of 1:500, which is sufficient for many traders.

👉 Micro, Premium, and Pro accounts can then leverage up to 1:1000. There is no need to rethink depending on the availability of leverage possibilities because all these choices are suitable.

👉 However, new traders should be aware that increased leverage options include the risk of substantial losses. If you are unsure which leverage option is ideal; you should start trading with a demo account first.

Weltrade Live Trading Account Details

Micro Account

👉 Weltrade’s entry-level offering is a Micro Account, allowing micro lot trades. Micro accounts are available for a minimum deposit of 18 NAD and allow traders to take advantage of commission-free trading and flexible spreads starting at 1.5 pips.

👉 The Micro account enables trading on the currency and metals markets via the MetaTrader 4 and 5 platforms. This account’s salient features are summed up as follows:

💻 Account Feature	Information
💰 Account Currency	USD or EUR cents
💸 Average trade execution	0.9 seconds
💵 Minimum Deposit	18 NAD ($1)
📊 Average Spread	Variable, from 1.5 pips
💰 Trade Execution Type	Market Execution
💵 Commissions charged	No, only the spread
📈 Quote	5th decimal pricing
💻 Maximum lots per order	1,000 cent lots
📱 Maximum open orders	100 lots
📉 Maximum pending orders	100 lots
📊 Maximum Leverage Ratio	1:33 to 1:1000
📞 Margin Call Percentage	20%
🛑 Stop-Out Level	10%
💻 Trading Platform Available	MetaTrader 4 and MetaTrader 5
✔️ Access to Auto Trading?	Yes
✅ Swap-Free Available?	Yes
🔧 Instruments Available on this Account	• Forex • Metals

Universe Account

👉 Through the Weltrade interface, customers with a Universe account can access the foreign exchange (FX), commodities, metals, and cryptocurrency markets. Your opening deposit must be at least 18 NAD to open this account.

👉 Spreads on floating orders start at 0 pips for crypto assets and 0.5 pips for currency pairs, and leverage can be anywhere from 1:1 up to 1:1000. This account’s highlights are summed up as follows:

💻 Account Feature	Information
💰 Account Currency	USD
💸 Average trade execution	0.4 seconds
💵 Minimum Deposit	18 NAD ($1)
📊 Average Spread	Variable, from 0.0 pips
💰 Trade Execution Type	Market Execution
💵 Commissions charged	No, only the spread
📈 Quote	5th decimal pricing
💻 Maximum lots per order	100 lots
📱 Maximum open orders	100 lots
📉 Maximum pending orders	100 lots
📊 Maximum Leverage Ratio	1:1 to 1:1000
📞 Margin Call Percentage	20%
🛑 Stop-Out Level	10%
💻 Trading Platform Available	Weltrade Terminal
✔️ Access to Auto Trading?	No
✅ Swap-Free Available?	Yes
🔧 Instruments Available on this Account	• Forex • Metals • Commodities • Cryptocurrencies

Premium Account

👉 Customers who wish to open a Premium account compatible with MT4 and MT5 must make a slightly larger initial payment of 450 NAD.

👉 The minimum floating spread is 1.5 pips, and it is available across all markets apart from bitcoin CFDs. The Micro account’s requirements of minimum leverage of 1:33 and maximum margin of 1:1,000 also apply here. This account’s salient features are summed up as follows:

💻 Account Feature	Information
💰 Account Currency	USD
💸 Average trade execution	From 0.8 seconds
💵 Minimum Deposit	450 NAD ($25)
📊 Average Spread	Variable, from 1.5 pips
💰 Trade Execution Type	Market Execution
💵 Commissions charged	No, only the spread
📈 Quote	5th decimal pricing
💻 Maximum lots per order	100 lots
📱 Maximum open orders	150 lots
📉 Maximum pending orders	100 lots
📊 Maximum Leverage Ratio	1:33 to 1:1000
📞 Margin Call Percentage	20%
🛑 Stop-Out Level	10%
💻 Trading Platform Available	MetaTrader 4 and MetaTrader 5
✔️ Access to Auto Trading?	Yes
✅ Swap-Free Available?	Yes
🔧 Instruments Available on this Account	• Forex • Metals • Commodities • Stock CFDs • Index CFDs

Pro Account

👉 The Pro account on Weltrade provides the most favourable terms for trading. This MetaTrader-focused variant, compatible with all assets other than cryptocurrencies, offers floating spreads starting at 0.5 pips.

👉 This account requires a USD base currency and a minimum starting deposit of 1,800 NAD. This account’s salient features are summed up as follows:

💻 Account Feature	Information
💰 Account Currency	USD
💸 Average trade execution	From 0.5 seconds
💵 Minimum Deposit	1,800 NAD ($100)
📊 Average Spread	Variable, from 0.5 pips
💰 Trade Execution Type	Market Execution
💵 Commissions charged	No, only the spread
📈 Quote	5th decimal pricing
💻 Maximum lots per order	100 lots
📱 Maximum open orders	150 lots
📉 Maximum pending orders	100 lots
📊 Maximum Leverage Ratio	1:33 to 1:1000
📞 Margin Call Percentage	20%
🛑 Stop-Out Level	10%
💻 Trading Platform Available	MetaTrader 4 and MetaTrader 5
✔️ Access to Auto Trading?	Yes
✅ Swap-Free Available?	Yes
🔧 Instruments Available on this Account	• Forex • Metals • Commodities • Stock CFDs • Index CFDs

Digital Account

👉 The broker’s final account type offered by the broker is called “Digital,” It is cryptocurrency-only and features floating spreads that start at zero pip spreads.

👉 There is a 40% margin call limit and a 20% stop-out restriction, double the limitations on standard accounts. In addition, you will need to deposit at least 900 NAD to open an account.

👉 Leverage of up to 1:100 is allowed, and margin trading is permitted through MT4 and MT4 terminals. This account’s salient features are summed up as follows:

💻 Account Feature	Information
💰 Account Currency	USD
💸 Average trade execution	From 0.7 seconds
💵 Minimum Deposit	900 NAD ($50)
📊 Average Spread	Variable, from 0.5 pips
💰 Trade Execution Type	Market Execution
💵 Commissions charged	No, only the spread
📈 Quote	5th decimal pricing
💻 Maximum lots per order	100 lots
📱 Maximum open orders	100 lots
📉 Maximum pending orders	100 lots
📊 Maximum Leverage Ratio	1:3 – 1:100
📞 Margin Call Percentage	40%
🛑 Stop-Out Level	20%
💻 Trading Platform Available	MetaTrader 4 and MetaTrader 5
✔️ Access to Auto Trading?	Yes
✅ Swap-Free Available?	Yes
🔧 Instruments Available on this Account	• Forex • Metals • Commodities • Stock CFDs • Index CFDs

ZuluTrade Account

👉 The final option is a ZuluTrade account, which lets you copy the trades of successful traders. Only this option includes the market price and a commission of 1.5 pips.

👉 Leverage of between 1:33 and 1:500 is available for accounts with a minimum deposit of 3,600 NAD. This account’s salient features are summed up as follows:

💻 Account Feature	Information
💰 Account Currency	USD
💸 Average trade execution	From 0.7 seconds
💵 Minimum Deposit	3,600 ($200)
📊 Average Spread	Variable, from 2.9 pips
💰 Trade Execution Type	Market Execution
💵 Commissions charged	1.5 pips
📈 Quote	5th decimal pricing
💻 Maximum lots per order	100 lots
📱 Maximum open orders	100 lots
📉 Maximum pending orders	100 lots
📊 Maximum Leverage Ratio	1:3 – 1:100
📞 Margin Call Percentage	40%
🛑 Stop-Out Level	20%
💻 Trading Platform Available	MetaTrader 4
✔️ Access to Auto Trading?	Yes
✅ Swap-Free Available?	Yes
🔧 Instruments Available on this Account	• Forex • Metals • Commodities • Stock CFDs • Index CFDs

Weltrade Demo Account

👉 Weltrade offers demo accounts, and as there is currently no indication of a time limit, they are available indefinitely. This makes them a great tool for algorithmic traders to test new strategies and troubleshoot existing ones.

👉 Additionally, newcomers can quickly become accustomed to the trading interface by utilizing this account. The trading platforms MT4 and MT5 provide a demo register.

👉 Namibian traders are advised to use the trial account with similar deposit amounts and leverage levels as they would for their primary account.

👉 Beginners can test account features and research copy trading signal sources or EAs with a sample account. However, they should exercise caution while attempting to imitate a live trading environment with a demo account.

👉 It produces irrational trade expectations, and in most circumstances, the simulation’s usefulness is reduced by the absence of trading psychology. However, demo accounts are great for getting a feel for a broker’s platform and user interface and learning the essentials.

Weltrade Islamic Account

👉 For Muslims, Weltrade offers an Islamic account or free swap; to activate the free swap function, write an email to Weltrade support.

Weltrade Professional Account

👉 Namibian traders with experience can register for a Premium or Pro Account on Weltrade. Namibians who use these accounts can take advantage of many of the following features:

➡️ Trades can be made in as little as 0.5 seconds or as much as 0.8 seconds, depending on the market conditions.

➡️ Spreads begin at 0.5 pips for many of the most widely traded instruments.

➡️ There are no commissions or other costs.

➡️ Transactions are carried out at the current market price.

➡️ Maximum leverage of 1:1000 across the board for key currency pairs.

➡️ The amount of money that can be kept in your account is not subject to any restrictions.

➡️ You should anticipate receiving a notification of a margin call if the required margin is twenty percent and the stop loss is ten percent.

Weltrade Spread Betting Account

👉 Weltrade does not provide a spread betting account to EU/UK traders.

Weltrade Base Account Currencies

👉 Various trading accounts utilize their own respective currencies. For the Pro, Zulutrade, and Digital accounts, the only currency that can be used for payments is the United States dollar. In contrast, the Micro account is denominated in USD or EUR.

👉 Additionally, Namibian traders who use Weltrade will be at a disadvantage because using Weltrade would result in currency conversion fees for both deposits and withdrawals.

Weltrade Basic Order Types

👉 Weltrade always uses market execution for traders, regardless of the type of account that Namibian customers with the platform opt to use. The following is a rundown of the standard trade execution times that Namibians can expect:

➡️ Micro Account – from 0.9 seconds

➡️ Universe Account – from 0.4 seconds

➡️ Premium Account – from 0.8 seconds

➡️ Pro Account – from 0.5 seconds

➡️ Digital Account – from 0.7 seconds

➡️ ZuluTrade Account – from 0.7 seconds

How to open an Account with Weltrade in Namibia

➡️ Traders can sign up for Weltrade in just 20 seconds by inputting their name, email address, and phone number into the web app.

➡️ Traders can also open an account by logging in using their Google, Facebook, or Line IDs.

➡️ Weltrade ensures an efficient onboarding process by not requiring users to fill out unnecessary forms.

➡️ Nonetheless, you will need to verify your account. Many traders can get by with just an ID copy and a single piece of residency proof.

➡️ When registering a live account, Weltrade may ask for additional information from traders on a case-by-case basis.

Weltrade MAM / PAMM Features

👉 Traders can have their money managed across multiple accounts by one professional by using a PAMM trading arrangement. Conversely, a Managed Assets Manager (MAM) account is a one-of-a-kind expert trading account with flexible sub-allocation choices.

👉 Investors using a “Multi-Account Manager,” or MAM, have greater freedom to allocate trades among many accounts. For the benefit of portfolio managers, MAM has also introduced fixed-lot allocations.

👉 Weltrade does not presently provide the option for PAMM or MAM accounts.

Social Trading with Weltrade

👉 Brokerage firm Weltrade operates as a social trading platform. Known copy trading service providers like ZuluTrade and MQL5 are Weltrade’s partners. To begin using the social trading platform ZuluTrade via the Weltrade broker, you need to do five simple actions:

➡️ Traders in Namibia can open an account on the Weltrade website in a matter of minutes.

➡️ Weltrade ZuluTrade Account: Traders can open an account with a minimum deposit of $200 (or 3,600 NAD).

➡️ Traders will receive an email with their login details for the web portal after completing the registration and initial funding.

➡️ Traders could link their accounts by going to the “Settings” area of their ZuluTrade Control Panel and entering their account number and password.

➡️ When a Namibian begins following a supplier on this platform, they gain instant access to various services. In addition, they can expect prompt completion of their requests.

Broker Comparison

	🥇 Weltrade	🥈 XM	🥉 eToro
⚖️ Regulation	SVG FSA, FSCA	FSCA, IFSC, ASIC, CySEC, DFSA	CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC,
📱 Trading Platform	• Weltrade Terminal • MetaTrader 4 • MetaTrader 5	• MetaTrader 4 • MetaTrader 5 • XM Mobile App	• eToro proprietary platform
💰 Withdrawal Fee	Yes	No	Yes
📊 Demo Account	Yes	Yes	Yes
📈 Minimum Deposit	18 NAD ($1)	90 NAD ($5)	3,600 NAD ($200)
📈 Leverage	1:1000	1:888	• 1:30 (Retail) • 1:400 (Pro)
📊 Spread	From 0.0 pips	0.0 pips	From 1 pip
💰 Commissions	$1 to $9	$1 to $9	None
✴️ Margin Call/Stop-Out	• 20% – 40% • 10% – 20%	• 50%/20%, • 100%/50% (EU)	None indicated
✴️ Order Execution	Market	Market, Instant	Market, Instant
💳 No-Deposit Bonus	No	No	No
📊 Cent Accounts	Yes, Micro	No	No
📈 Account Types	• Micro Account • Universe Account • Premium Account • Pro Account • Digital Account • ZuluTrade Account	• Micro Account • Standard Account • XM Ultra-Low Account • Shares Account	• Standard Account
⚖️ BoN Regulation	No	No	No
💳 NAD Deposits	No	Yes	No
📊 NAD Account	No	No	No
👥 Customer Service Hours	24/7	24/5	24/6
📊 Retail Investor Accounts	6	4	1
☪️ Islamic Account	Yes	Yes	Yes
💵 Minimum Trade Size	0.01 lots	0.01 lots	0.01 lots
📈 Maximum Trade Size	150 lots	100 lots	Depends on the instrument and account balance

Weltrade Trading Platforms

👉 Weltrade offers Namibian Traders a choice between these trading platforms:

➡️ Weltrade Terminal

➡️ MetaTrader 4

➡️ MetaTrader 5

Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

MetaTrader 4 and 5

👉 It is possible to trade a wide variety of assets on the MT4 platform, including but not limited to foreign currency, stocks, CFDs, and cryptocurrencies.

👉 As a result, the MT4 platform is the only choice if you want a serious trading and analysis environment.

👉 MT4 has more than 50 built-in tools and indicators for performing advanced analysis. MT4 is the best choice for traders who prefer to maintain a unified interface for all their accounts and terminals. The MT5 platform offers unrivalled technical analysis tools and trading possibilities.

👉 Better charts, technical indicators, and other trading resources are now available to investors. In addition, the MT5 trading platform gives users entry to both automatic trading robots and in-depth market data.

WebTrader Platforms

➡️ Weltrade Terminal

➡️ MetaTrader 4

➡️ MetaTrader 5

Weltrade Terminal

👉 Customers can trade foreign exchange, indices, commodities, and crypto items on the Weltrade terminal thanks to the easy browser-based interface available to them through their Universe account.

👉 More than 50 drawing tools and 100 indicators are available in the software, allowing users to make precise price predictions for a wide range of assets.

👉 Unlike the MetaTrader platforms, the Weltrade terminal allows investors to make deposits and withdrawals without leaving the interface.

👉 This service has no mobile app, which is a major drawback. Mobile users, however, can access the terminal via a web browser.

MetaTrader 4 and 5

👉 For those who would rather not switch web browsers or download additional software, the online terminal offers both MetaTrader 4 and MetaTrader 5.

👉 The online platform is just as safe and quick as the desktop counterparts, and it has all the bells and whistles that novice and expert traders might want.

Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5

MetaTrader 4 and 5

👉 MetaTrader4 (MT4) and MetaTrader5 (MT5) are mobile trading systems available to Namibians on iOS, Android, and Windows mobile devices.

👉 Users can have a seamless trading experience regardless of where or what device they use if their desktop software and mobile app are linked.

👉 Traders can still cancel or amend orders, figure out their profit and loss levels, and use charting tools. However, they should be aware that these features are significantly limited compared to those of PC trading platforms.

👉 However, Namibian traders must note that this feature entails fewer chart types and shorter time durations.

Weltrade Investment Programs

👉 Weltrade does not offer any investment plans and does not provide any services related to PAMM or MAM solutions. Weltrade, on the other hand, offers social and copy trading opportunities through ZuluTrade and an affiliate program.

👉 Both the ZuluTrade and MQL5 platforms can be utilized without the requirement of any prior expertise or training. In addition, repeating deals automatically will not require downloading any additional software.

👉 Copying services are based on the core premise that prospective investors select a trader whose trades are then mechanically copied by the copying service. If the transaction is successful, the investor will make a commission payment to the broker as a percentage of the profit.

👉 When you use the automatic trading options offered by Weltrade, you will have access to all the following benefits:

➡️ Determine the magnitude of the transaction or the position they are most at ease.

➡️ They will no longer need to constantly monitor the market because the indications generated by their preferred trading techniques will be carried out automatically.

➡️ Take control of your risk exposure using the Margin “Call-O-Meter,” which allows you to establish limits and stops.

Which Markets can You Trade with Weltrade?

👉 Namibian Traders can expect the following range of markets from Weltrade:

➡️ Forex

➡️ Share CFDs

➡️ Indices

➡️ Cryptocurrency

➡️ Metals

➡️ Energies

Financial Instruments and Leverage offered by Weltrade

🔧 Instrument	💻 Number of Assets Offered	💰 Max Leverage Offered
Forex	37	1:1000
Share CFDs	214	1:33
Indices	14	1:100
Cryptocurrency	39	1:2
Metals	4	1:100
Energies	2	1:100

Broker Comparison for a Range of Markets

	🥇 Weltrade	🥈 XM	🥉 eToro
➡️️ Forex	Yes	Yes	Yes
➡️️ Precious Metals	Yes	Yes	Yes
➡️️ ETFs	No	No	Yes
➡️️ CFDs	Yes	Yes	Yes
➡️️ Indices	Yes	Yes	Yes
➡️️ Stocks	Yes	Yes	Yes
➡️️ Cryptocurrency	Yes	Yes	Yes
➡️️ Options	No	No	No
➡️️ Energies	Yes	Yes	Yes
➡️️ Bonds	No	No	Yes

Weltrade Trading and Non-Trading Fees

Spreads

👉 Namibian clients trading on Weltrade should note that the spreads they pay will change depending on the trading account, the financial instrument, and the market’s general condition. The following is a list of the typical spreads, broken down according to the kind of account:

➡️ Micro Account – from 1.5 pips

➡️ Universe Account – from 0.0 pips

➡️ Premium Account – from 1.5 pips

➡️ Pro Account – from 0.5 pips

➡️ Digital Account – from 0.0 pips

➡️ ZuluTrade Account –from 2.9 pips

👉 The following is a list of standard spreads that Namibians might anticipate, depending on the type of account they use and the financial instrument they trade.

	💻 Micro	💰 Universe	💵 Premium	💸 Pro	📱 Digital	📈 ZuluTrade
EUR/USD	1.5 pips	0.5 pips	1.5 pips	0.5 pips	–	2.9 pips
XAG/USD	3 pips	1.4 pips	3 pips	1.4 pips	–	4 pips
XAU/USD	41 pips	9 pips	41 pips	9 pips	–	50 pips
NDXUSD	–	2 pips	2 pips	2 pips	–	8 pips
XBR/USD	–	6.7 pips	10.7 pips	6.7 pips	–	–
Apple, Inc.	–	–	11 pips	11 pips	–	–
BTC/USD	–	150 pips	–	–	150 pips	–

Commissions

👉 Weltrade allows customers to open one of five commission-free accounts, with the only fee being the spread. Therefore, Namibians can assume that the commission costs on their ZuluTrade account would begin at 1.5 pips.

Overnight Fees, Rollovers, or Swaps

👉 Weltrade assesses overnight fees to Namibian traders who maintain open positions for more than twenty-four hours.

👉 However, Muslim traders at Weltrade can convert their live trading accounts to a Swap-Free option, which exempts them from paying interest.

👉 Since Weltrade is transparent and straightforward about their overnight fees, Namibians can view them on the “Trading Instruments” area of their website. The following are some examples of typical overnight prices that traders on the EUR/USD and BTC/USD currency pairs could expect to see:

💻 Account Type	🔧 Instrument	📈 Swap Long (Buy)	📉 Swap Short (Sell)
Micro Account	EUR/USD	-0.75 pips	0.10 pips
Universe Account	EUR/USD	-0.006%	0.00084%
Premium Account	EUR/USD	-0.75 pips	0.10 pips
Pro Account	EUR/USD	-0.75 pips	0.10 pips
ZuluTrade Account	EUR/USD	-0.75 pips	0.10 pips
Digital Account	BTC/USD	-20%	-20%

Deposit and Withdrawal Fees

👉 Weltrade does not charge deposit fees but applies the following withdrawal fees/commissions:

➡️ Debit/Credit Card

➡️ 2% plus 3 USD

➡️ 2% plus 3 EUR

➡️ 9% and a minimum of 50 RUB

➡️ Skrill – 1%

➡️ Neteller – 2% with a minimum of 1 USD

➡️ Crypto

➡️ BTC – 1%, minimum 0.0003 BTC

➡️ ETH – 1%, minimum 0.01 ETH

➡️ LTC – 1%, minimum 0.01 LTC

➡️ USDT (TRC-20) – 1%, minimum 0.01 USDT

➡️ Perfect Money – 0.5%

➡️ Fasapay – 0.5%, minimum 0.01 USD and maximum 5 USD

Inactivity Fees

👉 Traders who allow their trading account to stay inactive for more than three months will be charged an inactivity fee of $15.

Currency Conversion Fees

👉 There will be a fee for currency conversion incurred whenever a Namibian customer makes a deposit or withdrawal in a currency other than the US dollar (or EUR on the Micro Account).

Weltrade Deposits and Withdrawals

👉 Weltrade offers the following deposit and withdrawal methods:

➡️ Credit/Debit Card

➡️ Skrill

➡️ Neteller

➡️ Crypto

➡️ Perfect Money

➡️ Indonesian Local Bank

➡️ Fasapay

Broker Comparison: Deposit and Withdrawals

	🥇 Weltrade	🥈 XM	🥉 eToro
Minimum Withdrawal Time	30 Minutes	1 working day	Instant
Maximum Estimated Withdrawal Time	Several Days	5 working days	Up to 10 Working Days
Instant Deposits and Instant Withdrawals?	Yes, Deposits	Yes, deposits	Yes

Weltrade Deposit Currencies, Deposit and Withdrawal Processing Times

💻 Payment Method	💰 Deposit Currencies	💸 Deposit Processing	💵 Withdrawal Processing
Credit/Debit Card	USD, RUB, EUR	Instant	30 minutes
Skrill	USD	Instant	30 minutes
Neteller	USD, RUB, EUR	Instant	30 minutes
Crypto	BTC, ETH, LTC, USDT TRC-20	Instant	30 minutes
Perfect Money	USD, EUR	Instant	30 minutes
Indonesian Local Bank	IDR	24 hours	30 min to a few days
Fasapay	USD, EUR	Instant	30 minutes

How to Deposit Funds with Weltrade

👉 To deposit funds to an account with Weltrade, Namibian Traders can follow these steps:

➡️ After logging into the client site, traders can deposit money into their accounts by choosing “Deposit” from the options menu.

➡️ Traders can select the deposit method and target account that is most practical for them.

➡️ Traders from Namibia can then select a currency, enter the minimum amount they wish to deposit and carry on with the process.

➡️ Traders can take any additional steps to verify and finalize their deposits.

Weltrade Fund Withdrawal Process

👉 To withdraw funds from an account with Weltrade, Namibian Traders can follow these steps:

➡️ By logging in with their credentials, traders can access their Client Portal on the Weltrade website.

➡️ Traders had the option to “Withdraw” and may choose the same payment method they had used to make their most recent deposit.

➡️ By inputting their withdrawal amounts and adhering to any additional instructions displayed, traders can confirm and execute their withdrawal requests.

Weltrade Education and Research

Education

👉 Weltrade offers the following Educational Materials:

➡️ Training

➡️ Seminars

Research and Trading Tool Comparison

	🥇 Weltrade	🥈 XM	🥉 eToro
Economic Calendar	Yes	Yes	No
VPS	No	Yes	No
AutoChartist	No	No	No
Trading View	No	No	Yes
Trading Central	No	No	No
Market Analysis	Yes	Yes	Yes
News Feed	Yes	Yes	Yes
Blog	Yes	Yes	Yes

👉 Weltrade also offers Namibian traders the following additional Research and Trading Tools:

➡️ Economic Calendar

➡️ Trading Calculator

Weltrade Bonuses and Promotions

➡️ Demo account holders of Weltrade’s Terminal are eligible to enter a drawing for a prize package of $20,000 in cash and goods.

➡️ Introducing Brokers could participate in the World Partner Contest 2024 for a chance to earn up to $25,000 when they refer new clients to the Weltrade platform.

➡️ Successful traders who accumulate 300 lots are eligible to win a free iPhone 13 Pro Max in a raffle.

➡️ Traders can receive a free round of Astro Cards with a minimum deposit of 50 USD to their MT5 account.

➡️ The MT5 spinner offers bonuses and cash prizes that traders can win in proportion to their initial deposits.

➡️ A 100% credit incentive for MT5 accounts allows Namibians to open larger positions.

➡️ There are no deposit fees for traders when they fill their accounts on Weltrade.

How to open an Affiliate Account with Weltrade

👉 To register an Affiliate Account, Namibian Traders can follow these steps:

➡️ Visit the Weltrade website and click the “Partners” link on the homepage.

➡️ You must open an IB account with Weltrade to participate in the affiliate program.

➡️ Once joined, you might inform your loved ones and share your special referral link on various social media networks.

➡️ Use the resources and innovative analytical tools offered by Weltrade to monitor the progress of your affiliates.

➡️ As more individuals sign up with Weltrade and actively trade using your affiliate link, you will frequently receive pay-outs.

Weltrade Affiliate Program Features

👉 Traders that take part in affiliate programs may be able to increase their income. This is because a partner’s monthly income is closely correlated to the amount of business they conduct.

👉 The system evaluates the partner’s monthly sales data and modifies the partner’s status as necessary.

👉 Namibian affiliates can engage in any of the three tiers of the Weltrade affiliate program to improve their potential earnings.

➡️ Standard – up to 65% of earnings per client.

➡️ Professional – up to 75% earnings per client.

➡️ Expert – 85% earnings per client.

Weltrade Customer Support

👉 Since its inception, Weltrade has won two “Best Customer Award” honours. In addition, in 2014, the prestigious Global Financial Market Review awarded Weltrade the Best Customer Service award in Russia.

👉 In 2017, Weltrade received the prestigious Best Customer Service title from the Forex Choice Awards. Given that direct client connection is Weltrade’s primary focus, it is expected that the company’s customer service has acquired international renown.

👉 Weltrade ensures that it applies an individualized strategy to each client to achieve the most promising results. Weltrade offers client service around-the-clock, seven days a week. In addition, live chat and email allow clients to contact the customer service team swiftly.

👉 Weltrade gives country-specific and issue-specific email addresses so that they can respond swiftly to your inquiries. Contact their team immediately for assistance with general inquiries, financial concerns, technical support, and partnerships.

👉 Additionally, clients can schedule a call with Weltrade by submitting a request form. The team is multilingual, and their website provides 15 international phone numbers.

🤝 Customer Support	📞 Weltrade Customer Support
Operating Hours	24/7
Support Languages	Multilingual
Live Chat	Yes
Email Address	Yes
Telephonic Support	Yes
Local Support in Namibia?	No
The overall quality of Weltrade Support	3/5

Weltrade Corporate Social Responsibility

👉 Weltrade’s official website does not currently detail any CSR initiatives or projects.

Additional Features of Weltrade

👉 Weltrade does not offer any additional features that have not been covered in this comprehensive broker review.

Financial Reports

👉 Financial Reports for Weltrade are not publically available on the official website.

Weltrade Future Vision

👉 According to Weltrade CEO Igor Galkin, the company’s objective is to provide foreign exchange trading opportunities to traders worldwide, and the broker works diligently to ensure transparency and safety.

Weltrade Risk Warning and Disclaimer for Namibians

👉 Traders have a responsibility to know there is a significant possibility of loss. As a result, before partaking in any trading activity, every trader should assess their current financial situation.

👉 Weltrade shall not be liable for any losses sustained by the trader because they decided on trading and investments.

👉 Trading foreign currencies on the foreign exchange market and trading on margin each come with their own inherent risks, which can take the form of political situations, economic considerations, acts of nature, and other things.

👉 In addition, these risks can significantly impact a trader’s ability to make a profit. It does not matter how much experience or knowledge a trader has; speculative trading is challenging for everyone, and traders need to be aware of this reality.

Our Final Verdict on Weltrade

👉 Weltrade is an online brokerage firm that provides its customers with various services. Its Pro account is one of the most popular, providing traders with the industry’s quickest trading environment.

👉 The interface is intuitive and well-designed. In addition, the company provides a wide range of educational tools that both novice traders and seasoned professionals can utilize.

👉 Weltrade is a fantastic alternative for novice and seasoned traders because the company provides customer service around the clock. Weltrade is recognized as one of the most successful online brokerage firms.

👉 Weltrade is an excellent option if you are looking for a trustworthy brokerage. Their web-based trading platform is intuitively designed, and the quality of their customer care is unmatched.

Weltrade Alternatives

➡️ FP Markets – It would not be an overstatement to call FP Markets one of Australia’s most successful brokerage companies. They have been in business for decades, during which time they have offered their customers superior brokerage services, which have helped them earn widespread acclaim within their field and several honours.

➡️ XM – Since XM’s founding in 2009, the company has rapidly risen to become one of the most successful brokerages in the world, to the point that it is now practically associated with foreign exchange trading. To this day, the business has provided customers from over 190 nations with access to more than five million different accounts.

➡️ FXTM – Not only has FXTM garnered worldwide recognition from its clientele, but the industry has also noticed the company. It has won a myriad of important awards. In addition, it boasts having more than three million customers across all its many versions of the broker.

FAQ

Does Weltrade have Nasdaq 100?

Weltrade offers CFDs on Indices and gives Namibians access to Nasdaq 100 stocks.

Is Weltrade Safe or a Scam?

Weltrade’s years in operation and FSCA regulation qualify it as a dependable broker, not a scam.

Is Weltrade regulated?

Weltrade is regulated in Saint Vincent by the SVG FSA and in South Africa by the FSCA.

Which trading accounts can I register with Weltrade?

You can register any of the following trading accounts:

Micro Account
Universe Account
Premium Account
Pro Account
Digital Account
ZuluTrade Account

How long does it take to withdraw from Weltrade?

Withdrawals are normally processed around the clock and can take up to 30 minutes to clear. In addition, each payment option has a unique processing time, so it may take longer to receive this cash into your bank account.

Is Weltrade compliant with Sharia law?

Weltrade offers halal trading conditions and a Swap-Free Islamic Account conversion to cater to Muslim traders who follow the Sharia law.

Does Weltrade have VIX 75?

Weltrade does not provide the Volatility 75 index as a traded instrument.

10/10 - (1 vote)

Table of Contents

Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. It is really important that you do not trade any money that you can’t afford to lose because regardless of how much research you have done, or how confident you are in your trade, there will always be a time that you lose.

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