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WELTRADE makes impression of ideal broker. Is it true?

WELTRADE has been operating in the market for 15 years. It works with traders from 180 countries. Judging by reviews, the broker is widely popular with investors from the CIS countries. The WELTRADE website is well-developed and contains useful information. The broker offers favorable trading conditions, bonuses, and campaigns as well as promises the fastest withdrawal of funds. Savvy traders are well aware that brokers are quite good at advertising themselves and making luring offers. However, let us check whether this information contains at least an ounce of truth.

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Offshore company

WELTRADE is another offshore company registered in Saint Vincent and the Grenadines. It is regulated by local legislation. It means that traders will also have to solve disputes there. The broker does not specify the license number and we were unable to confirm its availability.

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Identifying the registration address of WELTRADE can hardly be called an easy task. An Internet search for Suite 305, Griffith Corporate Center, PO BOX 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines leads to an office center. At this address, only in Apartment No. 305, based on the data of Digital Cash Palace, 8 brokerage companies are located. WELTRADE is one of them.

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A notice has been posted on the Griffith Corporate Center website stating that the company has negative ratings on the Internet due to the numerous complaints. The center provides contacts that people can use in order to inform about fraud or dubious actions of brokers, located in that apartment.

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Apparently, many brokers are currently residing in apartment No. 305. Google users constantly bombard the owner of the building with requests about the presence of a particular broker. There are more than 70 such questions that often remain unanswered.

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If an offshore registration does not scare you off, then the trading conditions seem pretty decent.

WELTRADE offers:

  • 5 accounts types
  • initial deposit: $25
  • spreads: from 0.5 pips
  • MetaTrader 4, MetaTrader 5
  • affiliate programs, training, 24/7 customer support
  • funds withdrawal within 30 min

The last sentence is the most interesting one. The broker states that clients can withdraw their money within 30 minutes while in the public offer, the broker indicates that it may take 5 banking days. Notably, if the security service requests additional documents, customers have to wait for 10 days.

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Feedback

WELTRADE claims it works with clients from 180 countries. However, there are few English-language reviews about this broker. The company almost does not get into the ratings and foreign traders avoid WELTRADE.

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The lion’s share of its clients are investors from the CIS countries. They leave positive reviews about the broker describing it as stable, reliable, and decent. Nevertheless, even when being showered with praise, negative reviews prevail. Traders complain about complex and long verification procedure, slow execution of orders, rude support service, and refusal to withdraw funds or delays. Clients also stress that the broker often blocks accounts.

Conclusion

As an offshore company, WELTRADE looks quite alright. A well-developed website, favorable trading conditions, long operating history. Yet, the lack of news about the company's activities over the past year and a large number of negative reviews for 2019-2020 make this company rather dubious. WELTRADE can hardly be called a scammer but the offshore regulation and registration in the odd and shady place raise suspicion.

The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
Author: Alice | Date 2021-10-21
I wouldn't be trading with a broker that has significant number of negative feedback. Even when there are some positive reviews, I still will not take the odds because the negative feedback won't emerge if the users were really satisfied with the broker.
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Author: Gilvert | Date 2021-10-11
I invested a thousand dollars at Weltrade believing that my account manager can magnify its amount. I was promised that my account manager will help me to grow my investment thus, no need to worry about my lack of experience. But then after depositing the money, there was no account manager and after a few days, my account was blocked.
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Author: Rocio | Date 2021-10-08
The reason I opened an account at Weltrade is their supposed fast withdrawal transaction. But then when I tried to withdraw my profits, the broker only blocked my account and I never received my money. I also never got to access my account again after that.
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Author: Quigel | Date 2021-10-01
Weltrade should not be trusted. I am not sure if the broker has really stopped their operations but if you ever get contacted by them, do not entertain their offers at all. This broker will only steal your money and will threaten you to give them more.
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Author: Harsh | Date 2021-09-22
Everything that Weltrade said on their website was a lie. They claimed to process withdrawals in as fast as 30 minutes when in reality, there is no way to get your money back. Once you invest in them, there is no way to take your funds back anymore. The broker's intention is only to rob their clients.
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Author: Eslera | Date 2021-09-17
Supposedly, the initial capital at Weltrade is low. In fact, I was told that I only needed $25. I registered just to try it out since the deposit was affordable. However, they told me that I am required to add another $500 if I wanted to start my trades. Basically, the broker tricked me. They do not have a low initial deposit requirement because you won't be able to start trading unless you deposit what they ask from you.
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Author: Patrice | Date 2021-09-09
I had an account at Weltrade and I thought everything was going well. I was earning quite fast and this made me want to invest more. In total, I deposited $1500 to my account. But then when it was time for me to withdraw the profits, the broker delayed my request for two weeks only to be rejected. When I made another request, they banned my account.
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