Many traders can now access global financial markets through legitimate and reliable brokerage platforms. As technology advances, brokers can offer advanced tools, multiple access channels, and most importantly, a variety of tradable assets. However, one challenge for beginners who want to open new accounts and start trading is, how can they avoid scams?
One legit broker you can check today is Weltrade. It is a global broker that offers many tradable assets, such as forex, cryptocurrencies, commodities, synthetic indices, stocks, CFDs, and ETFs.
The big question still remains: is Weltrade legit or a scam? Before opening a new account, you need to dig deep and understand how the broker operates. This invaluable review will help you make wise decisions.
Evolution of Weltrade
Weltrade was started in 2006 as a traditional forex broker. Today, it is a dynamic multi-asset online trading platform. It is registered and incorporated in Saint Lucia and has a physical address in the same country.
Today, the broker boasts several awards, such as best forex broker in 2023, best foreign broker in 2019, and best customer service award in 2017, among others.
That’s not all: the broker also has over a million registered traders in more than 40 countries worldwide. This is an indication that it has evolved into a reliable international trading broker. So, you can open an account on Weltrade without the fear of being scammed.
How to Open an Account on Weltrade
Opening an account on Weltrade is very easy. It is a straightforward process that anyone can do on their computer or smartphone. You will need a stable internet to do it.
Register a personal profile
You need to provide an email address, country of residence, and create a password on Weltrade’s sign-up page. As mentioned, you can do this on your computer or smartphone. You can also register using Google, Facebook, or LINE accounts. The last step here is to verify your email through a link sent to your inbox.
Complete the KYC
The broker requires you to verify your details in line with various regulations they adhere to. A few things are needed: your national ID, passport, or driver’s license, proof of address, and a selfie.
Open a trade account
Registration does not automatically mean you have an account. Weltrade offers several types of trading accounts, such as pro, micro, and swap-free accounts. So, you need to choose one that works for you. For a beginner, you’ll definitely want a demo account and one type of live trading account. Click on the appropriate account and follow the simple prompts to set it up.
Choosing MT4 or MT5
While still opening your live trading account, you need to select the platform to trade on between MT4 and MT5. Weltrade has integrated both of these powerful platforms to give traders more tools and a strong trading environment.
Voila! You are all set with a trading account on the Weltrade platform. All that’s left to do is to practice trading, set strategies, and gain confidence before you move to live trading. However, you need to deposit funds before live trading.
Weltrade Deposit Methods
As an international broker, Weltrade offers numerous deposit methods. Some Weltrade deposit methods apply globally while others are regional. It is important to go through them and pick one that works best for you. The most common international options include:
- Visa
- Mastercard
- UnionPay
- Skrill
- Neteller
The broker has no records of fraud, but it is best to take precautions when making deposits. You must do it on the official website through the account you just opened. Please note that the demo account does not use real money, but virtual money for the purpose of practice.
How to Make a Deposit
Once you choose the preferred Weltrade deposit method, go to your account, then to the finance section, and select the deposit option. Enter the deposit amount and follow the payment options.
They are pretty simple options, but you need to keep an eye on these steps just in case there is something that looks off.
The funds should be credited to your account instantly, unless there is a delay caused by technical issues, internet problems, or a slow device. However, this is very rare.
How to Close a Weltrade Account
If the time comes to close a Weltrade account, then you need to know the steps. You may need to close the account urgently after suspected fraud, a technical hitch, or you just don’t need the account anymore. Here are the steps to follow:
- Withdraw all funds. Never close a Weltrade account with funds as you will lose every bit of it. Withdraw all of it using the easy withdrawal steps.
- Close open positions in MT4 or MT5. Likewise, close all pending orders, subscriptions, and bonuses.
- Lastly, send an email to Weltrade requesting them to close your account. You will need to give a few details, such as your name and the email address associated with your account.
Please note that if you want to close just one account, you can do it by yourself. Just find the trading account, click the three dots menu, and click close account. You will still need to close active trades and withdraw from the account before closing it.
Is It Safe to Open a Weltrade Account Today?
From the insights above, you can tell Weltrade has proven to be a legit broker platform. It has been in operation for over two decades, won several awards, and remains registered in Saint Lucia. It has no records of fraud and can be said to be legit.
It also offers multiset trading, which you can access from literally anywhere in the world. Whether you are a beginner in trading or a seasoned trader who wants to experience a different broker, Weltrade is a great option for you.
Conclusion
Weltrade has established itself as a reputable brand you can trust. It offers superior trading accounts and access to MT4 and MT5 with all their tools. Notably, it has a low minimum deposit, making entry easy.
However, you need to carefully assess your goals, risk tolerance, and expectations before opening an account on Weltrade. Start with a demo account and only move to live trading once you have gained confidence.
