Cheated by a financial organization, does not withdraw money? Do you want to check the financial company?
Weltrade – reviews of the project, conditions for earning and withdrawing money
To form an objective opinion about a company, you need to study all the information about it that you can find. If you examine the Weltrade investment website, you will find out that it belongs to the company Systemgates Capital Ltd, which is engaged in cryptocurrency trading. The company was founded in Russia in 2006. Then it was called SystemForex. After rebranding, the company was renamed.
The reason for changing the name and rebranding was the merger of several companies at once. After this, the company began to provide services not only to residents of the CIS, but also to residents of Asia and Europe. US residents are not allowed to trade. Currently, more than 100,000 traders from 18 countries are registered on the site. On the website they are promised trading without slippages or requotes.
Money is withdrawn within 30 minutes from the moment the application is submitted. Account replenishment and withdrawal are possible through all popular systems: VISA, MasterCard, W1 – Wallet, Skrill (Moneybookers), Liberty Reserve, FASAPAY, Webmoney, CashU and others. The resource provides technical support 24/7.
The marketplace says it is regulated. The footer even shows the license number and regulator. But upon checking it turned out that the number was fake. The regulator does not have such a company listed. The company is lying when it says its activities are legal.
The legal address indicated on the site actually exists. But it is indicated on the websites of many fake brokers and investment companies. The fact that it is used by scammers is further proof of the dishonesty of this company.
|Features of the company
Weltrade is a broker created by a group of professional traders. The site provides several trading terminals and a lot of educational materials.
|Official website of the company
Suite 305, Griffith Corporate Centre, PO BOX 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines
- Many years of experience
- A large number of trading instruments
- Low threshold for entry
- Low spreads and commissions
- Welcome Bonuses
- Possibility of passive income
- No demo account
- Trade ban for US and Russian citizens
- No license
- Frequent account blocking
MetaTrader 4, MetaTrader 5, Webtrader, ZuluTrade
Micro, Premium, Pro, ZuluTrade
VISA, Mastercard, Skrill, Neteller, PayPal
|Minimum deposit amount
From 1:20 to 1:1000
Currency pairs, CFDs, stocks, indices, crypto commodities, metals
|Margin Call/Stop out
Weltrade – the broker promises high-quality trading, low commissions, fast withdrawal of money using all popular methods.
Reviews from clients
If a broker has been working for a long time, customer comments about him are sure to appear. There are different reviews about Weltrade, but there is too much negativity online, which indicates the broker’s illegal actions.
One of the traders working on the trading platform says that he lost $46,000 there. The man asked company employees to provide him with a license, but they refused, saying that the document was being updated. And the proof of their good work is a large number of clients. He believes that the company is acting outside the law and manipulating the trading process. The user’s account was then blocked.
Another investor wrote a complaint against the broker. It says that they have been trading on the site for several years, but recently the company has been refusing to pay money. The broker has closed all financial transactions. Technical support responds that payments in the region where the client is registered are closed and it is unknown when they will resume. He has $10,000 frozen in his account.
The trader says that it is difficult to trade with Weltrade. He says the company closed his account and did not allow him to withdraw his money. They explained to him that this was due to sanctions. He will be able to return his capital only after the sanctions are lifted.
Refusal to withdraw money does not look good on the company. This is how kitchen brokers operate, to which this trading platform belongs.
Terms of cooperation
To start working, the client needs to register. Personal information, contact phone number, email are entered into the form, and a strong password is created. After creating your Weltrade personal account, you need to upload scanned documents to undergo verification. Without this step, it is impossible to withdraw earnings from the platform.
After these procedures, the trader needs to decide on a trading platform. There are several on their website: MetaTrader 4, MetaTrader 5, Webtrader, ZuluTrade, applications for iPhone and Android. To improve the quality of trading, you can use advisors. Separately, it should be said that ZuluTrade is designed for automated trading. It is used by beginners and those who do not have enough time to trade.
The site gives bonuses and also provides free services such as eToken Pass. For those who want to earn passively, there is a program that allows you to earn 5% per year on investments from the invested amount. The company regularly holds competitions and tournaments with prizes up to $20,000. The broker has a three-level affiliate program, with generous cash prizes for invited participants.
The broker promises reliable protection for client accounts. Due to the fact that the company monitors security, customers’ money and their personal information are completely safe. Trading instruments on the site include Forex, metals, indices, CFDs, energies, stocks, and currency pairs. PAMM accounts used to be available, but then they were closed. There are 4 types of accounts on the site: Micro, Premium, Pro, ZuluTrade. Deposit: $25, $200, $1000.
On the site you can withdraw money to debit and credit cards, electronic wallets, and bank accounts. The broker promises quick withdrawal of money. But the website does not indicate what commission is charged for withdrawal. However, there is a commission for transactions, although it is low when compared with other brokers. Active traders can expect a return of 2% spread.
The broker offers new traders to undergo training using the materials provided on the website. There are a lot of videos and printed information there. The company regularly conducts webinars and seminars. The site has a section with analytics and news that are updated daily. Those beginners who doubt their abilities can copy the transactions of successful traders.
The first impression of the broker is positive – a decent website, a low deposit, the platform has been operating for about 19 years. But the Weltrade company cannot boast of permits from either the Central Bank of Russia or European countries. She only has a license from Belize – an offshore zone. And this can hardly add trust to the company. Offshore regulators are loyal to firms and do not protect the interests of their clients. In case of loss of money, the trader will have nowhere to complain.
A thorough check of the license on the regulator’s website showed that the document was issued in 2015, and before that the broker worked without any permits at all. One should be wary of such a platform, which is also confirmed by multiple complaints from users who collaborated with it.
Conclusions about cooperation
The official Weltrade website cannot be trusted. Despite almost two decades of work, the broker did not take care of the license. Although her number is listed on the website, it is fake. The broker’s actions are not controlled by regulators, and he can deceive clients without consequences because they have nothing to prove. The address they provide is used by many scammers posing as brokers.
The broker promises clients decent earnings from trading, receiving cash rewards for winning competitions, attracting new participants to the project, and even passive income. But all these are just words to lure more users to the site, and then steal their money.
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The company’s rating and reputation largely depend on whether its clients are satisfied. The reviews about Weltrade are not the most flattering, and therefore you should take a close look at them before deciding to cooperate with this platform.
To add a review of this company on the resource, you do not need to spend a lot of time. The whole procedure takes no more than 5 minutes, and this is already with registration. A letter with a link to confirm registration will be sent to your e-mail, and it will also contain detailed instructions on how to add a review to the site.
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