WELTRADE Review 2025: A Scam Forex Broker to Avoid?

Overview

WELTRADE is a forex and CFD broker established 19 years ago in Saint Vincent and the Grenadines, with operations primarily regulated in South Africa. It offers trading in forex, cryptocurrencies, commodities, indices, and metals through platforms like MetaTrader 4, MetaTrader 5, and a proprietary Weltrade App. With a minimum deposit of $25 and leverage up to 1:1000, it targets both beginners and experienced traders.

You can view more of WELTRADE trading information here.

https://www.wikifx.com/en/dealer/9161578493.html

WikiFX Ratings

WELTRADE has a WikiFX score of 2.50 out of 10, which is alarmingly low. The WikiFX page includes a warning: “Low score, please stay away!” This rating suggests potential risks in transparency, regulation, or user experience, which are critical factors for assessing a broker's reliability.

User Reviews and Reputation

User reviews on WikiFX are mixed, with 24 total reviews: 8 positive, 8 neutral, and 14 exposures (complaints). Positive reviews praise the broker's ease of use, quick deposits and withdrawals, and diverse trading instruments. For instance, a user (FX3208088853) highlighted WELTRADE's 19 years of experience and copy trading features. However, neutral and exposure reviews reveal serious concerns. Atik urhkr reported delayed withdrawals and unresponsive quotes, while InvestorFX claimed they were unable to withdraw $22,067 due to poor communication from WELTRADE. Another user (FX9560897322) noted pricing discrepancies on the Hang Seng Index, leading to unexpected losses. These issues indicate operational unreliability and harm the broker's reputation.

Check out more reviews from diverse traders around the globe.

https://www.wikifx.com/en/dealer/9161578493.html

Regulation and Trustworthiness

WELTRADE claims to be regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, a reputable regulator. However, WikiFX does not provide a license number or clear evidence to verify this claim, and the low score of 2.50 raises doubts. Additionally, being registered in Saint Vincent and the Grenadines—a jurisdiction known for lax oversight—further undermines its trustworthiness. The combination of unverified regulations and user complaints about withdrawals and pricing suggests that WELTRADE may be a potential scam broker.

Physical Offices

According to a WikiFX field survey conducted on October 18, 2023, in South Africa, the physical presence of WELTRADE at its regulatory address in Randburg, Johannesburg, was investigated. The survey team visited the specified location, which was listed as South Africa Avenue, but found no evidence of a business office. Instead, the address corresponded to a private residence. The owner of the residence had never heard of WELTRADE, and taking photos inside was not permitted due to privacy concerns. This on-site investigation confirmed that WELTRADE does not maintain a physical office at the stated address. This finding raises significant doubts about the broker's claimed operations in South Africa, despite earlier indications of physical offices in South Africa, Indonesia, Thailand, and Vietnam, as well as demo offices in Cambodia and Laos from the previous WikiFX data. The discrepancy between the claimed presence and the absence of a verifiable office suggests a lack of transparency, further supporting concerns about the broker's legitimacy.

You may check out whole page of survey.

https://www.wikifx.com/en/survey/97378304c7.html

Latest News on Social Media

Recent social media discussions about WELTRADE show mixed sentiment. Negative X posts highlight withdrawal delays and declining trust, aligning with BrokerChooser's (Nov 2024) warning of WELTRADE being unsafe due to weak regulation. ForexSuggest (Mar 2025) also questions its legitimacy despite FSCA and FSA claims, citing unusually high leverage. Conversely, Traders MBA (Aug 2024) and Bolsa24 (June 2024) praise its 19-year history, diverse instruments, and fast transactions, noting awards like the 2019 Best Foreign Broker. Medium (Apr 2024) highlights innovative features like SyntX and WebTrader. However, negative sentiment dominates, amplified by WikiFX's finding of no physical office in South Africa (Oct 2023), urging caution among traders.

Pros and Cons

Pros

1. Long operational history (19 years).
2. Low minimum deposit ($25), suitable for beginners.
3. Wide range of trading instruments (Forex, cryptocurrencies, commodities, indices, metals).
4. Supports MetaTrader 4, MetaTrader 5, and a proprietary app.

Cons

1. Low WikiFX score (2.50/10) with a warning to “stay away.”
2. Unverified regulatory status despite claiming FSCA regulation.
3. Significant user complaints about withdrawals, pricing discrepancies, and platform issues.
4. High spreads on some pairs (e.g., 43.0 pips for BTC/USD).
5. Registered in Saint Vincent and the Grenadines, a jurisdiction with lax oversight.

Conclusion

WELTRADE offers some appealing features, such as a low minimum deposit and a wide range of trading instruments, but its low WikiFX score, unverified regulatory status, and numerous user complaints raise serious concerns. The lack of clear regulation, combined with its registration in a jurisdiction with lax oversight, suggests that WELTRADE could be a potential scam broker. Traders should proceed with caution and consider more regulated alternatives like XM or VT Markets, which are also viewed by WELTRADE users on WikiFX.