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.
- Lesche Duvenage
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.6/5
Min Deposit
–
Regulators
–
Trading Desk
–
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Weltrade Review – 17 key points quick overview:
- AvaTrade Overview
- Regulation and Safety of Funds
- Account Types and Features
- Account Registration
- AvaTrade Vs Exness Vs JustMarkets – Broker Comparison
- AvaTrade Trading Platforms
- AvaTrade Range of Markets
- AvaTrade VS Exness VS JustMarkets Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- The process to Withdraw Funds from an AvaTrade Account
- AvaTrade Education and Research
- Bonuses and Promotions
- AvaTrade Affiliate Program
- Verdict on AvaTrade
- AvaTrade Pros and Cons
- Frequently Asked Questions
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 Ugandan 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 Ugandan 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.
👉 Durval – “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” (quoted verbatim – Forex Peace Army)
👉 Andrey Ducca – “spreads are pretty terrible, some being 4-5 times more than other brokers. also if you did decide to use them, be very careful of their so called “bonus” schemes, my account got emptied by one when I closed a trade because the “bonus” does not count towards your actual balance (total joke) its just like changing your leverage without you knowing.” (quoted verbatim – brokersview)
👉 Lemanad – “They offer quite favorable conditions… I’ve no idea about the way their platform works, but I’m gonna open an account.” (quoted verbatim – forex-up)
Latest Existing/Previous Customer Comments on Weltrade for 2023
👉 Murvig –” Different sources give different reviews about Forex and what I see here is that the majority of reviews are positive. Choosing my broker I would prefer Weltrade. I think it’s a well-trusted company with a good reputation.” (quoted verbatim – forex-up)
👉 Maiya – “I’m very pleased with cooperation with Weltrade. I started on the Micro account and now I’m on the Premium one. I didn’t have any problems or delays in trading on these accounts. Recommend!” (quoted verbatim – forex-up)
👉 Sindhu – “Hi sindhu here from Sri Lanka I joined weltrade in 2017 everything was good slowly I came to profits from losses no issue like other brokers best one.” (Quoted verbatim from Reviews-broker.com)
👉 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)
Detailed Summary of Weltrade
👉 Because there is a low required minimum deposit and a propensity for smaller trade amounts, Weltrade could be an appealing option for beginning traders.
👉 In addition, Weltrade is a licensed broker with a staff of 65 highly-trained professionals in innovative technologies. These specialists are accessible to serve Weltrade’s clientele around the clock, seven days a week.
👉 Additionally, Weltrade has a significant amount of experience in direct bargaining. The forex demo account is just one of many offered accounts; some other choices include Crypto, Universal, Pro, ZuluTrade, Micro, and Premium accounts.
Advantages that Weltrade has over competitors
➡️ One of the primary benefits of utilizing Weltrade is the round-the-clock customer service and research services.
➡️ Traditional brokerage businesses frequently charge higher transaction charges than Weltrade.
➡️ Time is of the essence in trading, and. In contrast, traditional brokers demand appointments merely to initiate a trade; trading with Weltrade makes the process far faster.
➡️ Users in Uganda can track their investments in real-time.
➡️ Weltrade provides stock quotations and trade data, enabling consumers to monitor the performance of their investments easily.
Who will Benefit from Trading with Weltrade?
👉 Weltrade is considered an ideal broker for both beginners and advanced traders. The trading solutions offered by Weltrade cater to the varying needs of all types of traders.
Trading with Weltrade Pros and Cons
| ✔️ Pros | ❌ Cons |
| A variety of assets that can be traded around the clock is one of Weltrade’s advantages. | Spreads in cryptocurrency trading are wide. |
| User-friendly website and mobile app. | No mutual funds are available for investment. |
| Training and chart-reading instruments to facilitate fundamental and technical analysis. | Due to the inherent high risk, this platform is typically unsuitable for novice traders. |
| Community-based functions that facilitate learning from and integrating with other platform users. |
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 has not yet extended its service area to include significant parts of the African continent. Nevertheless, Weltrade is one of the Top 150 brokers in Uganda because it is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.
Weltrade At a Glance
| 🏛 Headquartered | Saint Vincent and the Grenadines |
| 🏙 Local office in Kampala? | Saint Vincent and the Grenadines |
| ✅ Accepts Uganda traders? | Yes |
| 🗓 Year Founded | 2006 |
| 📞 Uganda Office Contact Number | None |
| 🤳 Social Media Platforms | |
| ⚖️ Regulation | SVG FSA, FSCA |
| 🪪 License Number | • United Kingdom – 525164 • Australia – ABN 93 158 065 635, AFSL 422661 • South Africa – 2018/418755/07, FSP 49846 • Bahamas – 203493 B, SIA-F216 |
| ⚖️ CMA Uganda Regulation | No |
| 🚫 Regional Restrictions | United States, Canada, Russia, Belarus |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 6 |
| 📊 PAMM Accounts | No |
| 🤝 Liquidity Providers | Barclays |
| 💸 Affiliate Program | Yes |
| 📲 Order Execution | Market |
| 📊 Average spread | 0.0 pips |
| 📞 Margin Call | 20% – 40% |
| 🛑 Stop-Out | 10% – 20% |
| ✅ Crypto trading offered? | Yes |
| 💰 Offers a UGX Account? | No |
| 👨💻 Dedicated Uganda Account Manager? | No |
| 📊 Maximum Leverage | 1:200 |
| 🚫 Leverage Restrictions for Uganda? | No |
| 💰 Minimum Deposit | 3,800 UGX / 1 USD |
| ✅ Uganda Shilling Deposits Allowed? | • Credit/Debit Card • Skrill • Neteller • Crypto • Perfect Money • Indonesian Local Bank • Fasapay |
| 📊 Active Uganda Trader Stats | 100,000+ |
| 👥 Active Uganda-based Weltrade customers | Unknown |
| 💳 Uganda Daily Forex Turnover | Unknown, overall Forex Daily Trading Volume is over $6.6 Trillion |
| 💵 Deposit and Withdrawal Options | • Credit Card • Debit Card • Bank Wire Transfer • Bank Transfers • Skrill |
| 🏦 Segregated Accounts with Uganda Banks? | No |
| 📊 Trading Platforms | • Weltrade terminal • MetaTrader 4 • MetaTrader 5 |
| ✔️ Tradable Assets | • Forex • Share CFDs • Indices • Cryptocurrency • Metals • Energies |
| 💸 Offers USD/UGX currency pair? | No |
| 📈 USD/UGX Average Spread | N/A |
| 📉 Offers Uganda Stocks and CFDs | None |
| 🗣 Languages supported on Website | Multilingual |
| 📞 Customer Support Languages | Multilingual |
| ⏰ Customer Service Hours | 24/5 |
| 👥 Customer Support Languages | No |
| ✅ Bonuses and Promotions for Uganda traders | No |
| 📚 Education for Uganda beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 💰 Most Successful Ugandan Trader | Unknown |
| ✅ Is Trade Nation a safe broker for Ugandan traders? | Yes |
| 📊 Rating for Weltrade Uganda | 8/10 |
| 🤝 Trust score for Weltrade Uganda | 89% |
| 👉 Open an account | 👉 Open Account |
Weltrade Regulation and Safety of Funds
Weltrade Regulation in Uganda
👉 The local market regulators in Uganda are as follows:
➡️ Capital Markets Authority (CMA) Uganda
👉 While Weltrade is regulated globally, the broker does not yet have local regulations or licenses in Uganda. However, Weltrade is a popular and trustworthy broker that accommodates Ugandan traders.
Weltrade Global Regulations
👉 Weltrade is a wholly owned subsidiary of Systemgates Ltd., a company based in Saint Vincent and the Grenadines that complies with all laws and regulations relevant to its operations.
👉 Considering this, the following guidelines apply not only to Systemgates but also to Weltrade:
➡️ Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) license #24513 for Systemgates Ltd.
➡️ Financial Sector Conduct Authority (FSCA) license #50691 for Weltrade SA (PTY) Ltd, a company incorporated in South Africa.
How Weltrade Protects Traders and Client Funds
👉 Weltrade’s stringent financial rules keep customers’ money safe. Regulations limit the risk a financial institution like Weltrade can take with their investors’ money and help prevent financial fraud.
👉 In the financial sector, regulators keep an eye on the banking industry, the financial markets, and the public. This is because the health of the economy, businesses, and consumers all hinge on a dependable financial system.
👉 Safety and security in the financial system and consumer protection are important goals of Weltrade financial regulation.
Security while Trading
👉 You can trade safely with Weltrade. With Weltrade, traders can feel safe knowing their information is encrypted and protected thanks to the platform’s 2FA and SSL encryption.
👉 Weltrade uses state-of-the-art encryption and masking technology to protect your personal and financial data when trading on the platform.
👉 Weltrade trading accounts include an additional layer of security in the form of rate limiting on suspicious account actions such as repeated failed login attempts.
👉 Weltrade employs a skilled staff to keep an eye on and protect its trading infrastructure around the clock. In addition, the Weltrade trading platform always uses transport layer security (TLS) and SSL encryption before sending sensitive data.
Weltrade Awards and Recognition
👉 Weltrade was recognized as one of Asia’s best dependable Forex brokers in 2021. The Competition Committee has also praised Weltrade for providing unmatched service in the Asian area.
👉 The capacity of Weltrade’s international team members to effectively interact with and comprehend the cultural customs and values of its Asian clientele is a key factor in the company’s success in the region. It is just one of several honours that Weltrade has received lately.
➡️ Weltrade received the Best Foreign Broker award at the Asia Forex Expo in 2019.
➡️ Forex Choice 2017’s Best Customer Service Award went to Weltrade.
➡️ Weltrade received recognition for “Best Trade Executions 2015” at the China FX Expo.
➡️ Weltrade won the best customer service award from the Global Financial Market Review in 2014.
Weltrade Account Types and Features
👉 Ugandans can choose from these Weltrade accounts:
➡️ Micro Account – ideal for beginners.
➡️ Universe Account – Comprehensive account ideal for most traders.
➡️ Premium Account – Ideal for more advanced traders who want competitive spreads.
➡️ Pro Account – Ideal for experienced traders who want the best trading conditions.
➡️ Digital Account – Ideal for cryptocurrency traders.
➡️ ZuluTrade Account – Ideal for copy and social traders.
| 💻 Live Account | 💵 Minimum Dep. | 📊 Average Spread | 💰 Commissions | 💸 Average Trading Cost |
| Micro | 3,800 UGX / 1 USD | 1.5 pips | None | 15 USD |
| Universe | 3,800 UGX / 1 USD | 0.5 pips | None | 5 USD |
| Premium | 95,500 UGX / 25 USD | 1.5 pips | None | 15 USD |
| Pro | 380,000 UGX / 100 USD | 0.5 pips | None | 5 USD |
| Digital | 190,000 UGX / 50 USD | 2 pips | None | 0.2 USD |
| ZuluTrade | 760,000 UGX / 200 USD | 2.9 pips | 1.5 pips | 44 USD |
Weltrade Live Trading Account Details
Micro Account
👉 Micro accounts, with a minimum deposit of just 13 UGX (or the equivalent in Euro/US cents), are an excellent way for new traders to get their feet wet without taking on too much risk.
👉 A Ugandan trader should register a micro account to understand the market and how orders are processed. Traders can expect the following benefits from this account:
| Account Feature | Information |
| 💵 Account Currency | USD or EUR cents |
| 💰 Average trade execution | 0.9 seconds |
| 💸 Minimum Deposit | 3,800 UGX ($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
👉 The Universe Account is, as the name implies, a versatile trading account that caters to a wide range of investors by offering them favourable trading conditions, access to various markets, and a suite of strong trading tools via the Weltrade interface.
👉 Ugandans using this account access the following special features:
| Account Feature | Information |
| 💵 Account Currency | USD or EUR cents |
| 💰 Average trade execution | 0.4 seconds |
| 💸 Minimum Deposit | 3,800 UGX ($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
👉 The Weltrade Premium Account is intended for more experienced traders who require tighter spreads and faster trade execution than the standard account. Ugandan traders who utilize this account can also expect to have access to the following features:
| Account Feature | Information |
| 💵 Account Currency | USD |
| 💰 Average trade execution | 0.8 seconds |
| 💸 Minimum Deposit | 95,500 UGX ($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 | 10% |
| 🛑 Stop-Out Level | 3.5% |
| 📱 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
👉 A Pro Account would benefit traders who are already well-versed in the market and know exactly what they want from a broker.
👉 This account has no commission fees and offers quick trade execution and minimal spreads. This account will be especially handy for traders who use MetaTrader 4 and MetaTrader 5.
| Account Feature | Information |
| 💵 Account Currency | USD |
| 💰 Average trade execution | From 0.5 seconds |
| 💸 Minimum Deposit | 380,000 UGX ($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 | 1:1 to 1:1000 |
| 📞 Margin Call Percentage | 10% |
| 🛑 Stop-Out Level | 3.5% |
| 📱 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
👉 Weltrade’s Digital Account enables the trading of Bitcoin, Ethereum, and other cryptocurrencies. Traders in Uganda can benefit from this account type’s features, which include the following:
| Account Feature | Information |
| 💵 Account Currency | USD |
| 💰 Average trade execution | From 0.7 seconds |
| 💸 Minimum Deposit | 190,000 UGX ($50) |
| 📊 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 | 1:3 – 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 | 39 Cryptocurrencies |
ZuluTrade Account
👉 The ZuluTrade Account is Weltrade’s social and copy trading account. Using this account, citizens of Uganda gain access to various markets where they can raise the value of their holdings by emulating the trading strategies of successful traders.
| Account Feature | Information |
| 💵 Account Currency | USD |
| 💰 Average trade execution | From 0.7 seconds |
| 💸 Minimum Deposit | 760,000 UGX ($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 | 1:33 to 1:1000 |
| 📞 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 |
Weltrade Demo Account
👉 Demo accounts are available on Weltrade, allowing users to practice trading with virtual Weltrade currency and real-time market data and circumstances.
👉 One of the numerous benefits of using a Weltrade demo account for practice is that it allows you to become familiar with the platform’s underlying infrastructure.
👉 You may test out and get comfortable with a wide range of market charts, Weltrade trading indicators, and trading methods with a Weltrade demo account.
Weltrade Islamic Account
👉 Traders in Uganda who are Muslims and follow the Sharia Law value Islamic Accounts because it exempts them from paying overnight fees, which the Sharia forbids.
👉 In addition, Weltrade makes available, for each of the given trading accounts, the option to convert into a Swap-Free Account.
👉 When Muslim traders convert a live trading account into an Islamic Account, they are not subject to additional costs or administrative fees.
Weltrade Professional Account
👉 Weltrade offers two types of accounts for seasoned investors: the Premium Account and the Pro Account. The following is a list of the perks that are available to Ugandans who have these accounts:
➡️ The average time to complete a trade is between 0.5 and 0.8 seconds, which is fast.
➡️ Spreads on major instruments start as low as 0.5 points (pips).
➡️ The zero trading commission charges cover the broker fee for facilitating the trade.
➡️ All transactions are conducted using the currently available market price.
➡️ Take advantage of a leverage ratio of up to 1:1000 on the most liquid currency pairs.
➡️ No upper limit is placed on the amount of money that can be held in the account.
➡️ A minimum required margin of 20%, with a stop-loss level of 10%
Weltrade Spread Betting Account
👉 Traders from the EU and the UK cannot open accounts offered by Weltrade.
Weltrade Base Account Currencies
👉 Your account’s base currency is the currency in which your balance is maintained. In other words, it is the medium of exchange.
👉 The term “base currency” is an accounting term for the currency in which a given investment keeps its books.
👉 The term “base currency” is used to describe the first currency in a currency pair in the foreign exchange market, whereas “quote currency” describes the second currency. For example, Weltrade accepts US Dollars (USD) and Euros (EUR) as account base currencies.
👉 When trading, it is important to use the same currency in your Weltrade trading account and the bank account from which you withdraw and deposit money to avoid incurring any unnecessary currency conversion fees.
👉 Weltrade cannot prevent your bank from charging you a fee when you make a withdrawal or exchange currency.
Weltrade Basic Order Types
👉 Weltrade guarantees that any trader based in Uganda who establishes an account with them will have their orders carried according to STP execution policies.
👉 Therefore, the following is a rundown of what traders can anticipate in terms of the typical execution times for trades:
➡️ 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 Uganda
👉 The account is instantly activated after the simple online registration process. The steps Ugandan citizens must take to register are as follows:
➡️ Suppose you are opening an account for the first time. In that case, you can fill out a form by selecting “Registration” at the top of the page and entering your name, email address, and phone number.
➡️ Weltrade will confirm your email address by sending a PIN that must be entered in the field provided. Afterward, traders will be prompted for additional personal information to complete the application.
➡️ By selecting a trading platform, an account type, and leverage, traders can customize their accounts to suit their interests.
➡️ Traders must upload the following documents as part of the KYC process:
➡️ A clear photo of your passport, national ID card, driver’s license, and other forms of government-issued identification.
➡️ Proof of address that is not older than three months. This document must show the trader’s name, their residential address, the date of issue and the issuing authority. This can be a utility bill, bank or credit card statement, rental contract, etc.
Weltrade MAM / PAMM Features
👉 Weltrade does not offer Percentage Allocation Money Management (PAMM) or Multi-Account Manager (MAM) Accounts.
Social Trading with Weltrade
👉 Weltrade social trading is a type of social trading in which users can imitate the actions of more successful users of the Weltrade platform. In addition, Weltrade’s social trading features enable you to interact with other traders in a Meta-like environment.
👉 The core idea is to network with other traders on the Weltrade platform to share and discuss future investment opportunities.
Broker Comparison
| 🥇 Weltrade | 🥈 JustMarkets | 🥉 ACY Securities | |
| ⚖️ Regulation | SVG FSA, FSCA | FSA | ASIC, VFSC |
| 📱 Trading Platform | • Weltrade Terminal • MetaTrader 4 • MetaTrader 5 | • MetaTrader 5 • MetaTrader 4 • JustMarkets App | • MetaTrader 4 • MetaTrader 5 |
| 💰 Withdrawal Fee | Yes | None | Yes |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 3,800 UGX ($1) | 3,800 UGX ($1) | 190,000 UGX ($50) |
| 📈 Leverage | 1:1000 | Up to 1:3000 | 1:500 |
| 📊 Spread | From 0.0 pips | From 0.0 pips | Variable, 0.0 pips |
| 💰 Commissions | 1.5 pips | $3 units per lot/side | From $5 |
| ✴️ Margin Call/Stop-Out | • 20% – 40% • 10% – 20% | 40%/20% | 100%/50% |
| ✴️ Order Execution | Market | Market | STP |
| 💳 No-Deposit Bonus | No | Yes | None |
| 📊 Cent Accounts | Yes, Micro | Yes | No |
| 📈 Account Types | • Micro Account • Universe Account • Premium Account • Pro Account • Digital Account • ZuluTrade Account | • MetaTrader 4 Standard Cent Account • MetaTrader 4 Standard Account • MetaTrader 4 Pro Account • MetaTrader 4 Raw Spread Account • MetaTrader 5 Standard Account • MetaTrader 5 Pro Account • MetaTrader 5 Raw Spread Account | • Standard Account • ProZero Account • Bespoke Account |
| ⚖️ CMA Regulation | No | No | No |
| 💳 UGX Deposits | No | Yes | Yes |
| 📊 UGX Account | No | No | No |
| 👥 Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 6 | 7 | 3 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📈 Maximum Trade Size | 150 lots | 100 lots | Depends on the region and trading instrument |
Weltrade Trading Platforms
👉 Weltrade offers Ugandan Traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ Weltrade Terminal
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4
👉 Foreign exchange brokers like Weltrade can license MT4 to offer it to their customers. It is a free foreign exchange trading platform that supports a variety of advanced trading strategies, including algorithmic trading on mobile devices and extensive trend analysis tools.
👉 MT4 is a great tool to use if you want to automate your trading. Ugandans can expect an easy-to-use interface with powerful technical analysis and customizable trading techniques.
MetaTrader 5
👉 Traders can conduct technical analysis and execute trades in the foreign exchange and currency markets with the help of MetaTrader 5, a free program. In addition to Forex and CFDs, MetaTrader 5 may be used to trade Stocks and Futures.
👉 It is a multi-asset platform with excellent tools for thorough price analysis. In addition, it supports trading in foreign exchange, equities, and futures.
👉 MT5 has a lot going for it because it is an all-in-one solution, has great analytical tools, a sleek design, and the ability to view hundreds of charts at once, as well as other capabilities that are truly at the level of sophistication found in large financial institutions.
WebTrader Platforms
➡️ MetaTrader 4 and 5
➡️ Weltrade Terminal
MetaTrader 4 and 5
👉 Those who opt not to download the trading platforms can still use MetaTrader 4 and MetaTrader 5 through the web.
👉 The speed and dependability of the web platform are on par with their desktop counterparts. It also offers all the additional features required by both inexperienced and seasoned traders.
Weltrade Terminal
👉 Weltrade is a web trading platform that may be used to make trades. In this case, Weltrade will serve as the financial go-between for opening and closing trades and managing open positions in the market.
👉 In the foreign exchange market, Weltrade is a web trading platform that allows traders to open and close positions without needing to install any additional software.
👉 Traders can monitor Bid-Ask spreads, set Stop Loss and Take Profit orders, and view the status of their open and closed positions from their web browser.
Trading App
👉 For usage on their iOS, Android, or Windows mobile device, Ugandans can download MetaTrader4 (MT4) or MetaTrader5 (MT5).
👉 No matter where customers are, they can take advantage of a fully synchronized trading experience by connecting the mobile app to the same account as the desktop software.
👉 Order changes, profit and loss calculations, and trading directly from the charts are still available to traders. Nevertheless, they should be informed that some features are lacking compared to PC trading platforms.
Weltrade Investment Programs
👉 Weltrade does not offer either PAMM or MAM solutions. However, the social and copy trading features offered by ZuluTrade are not the only ones offered by Weltrade.
👉 No prerequisite expertise or training is required to operate a ZuluTrade MQL5 platform. Furthermore, you will not have to enter duplicate deals utilizing the built-in duplication option manually.
👉 The premise of copying services is that potential investors choose a trader whose trades are automatically replicated. Furthermore, the investor will pay the broker a commission equivalent to a percentage of any gains realized because of the transaction.
Which Markets can You Trade with WELTRADE?
👉 Ugandan 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 | 🥈 JustMarkets | 🥉 ACY Securities | |
| ➡️️ 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 | No |
Weltrade Trading and Non-Trading Fees
Spreads
👉 Ugandans using Weltrade will encounter spreads that vary depending on a few criteria, including the type of trading account utilized, the financial instrument being traded, and the market state. The typical spreads for EUR/USD on each account type are as follows:
➡️ 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
👉 Ugandans might also expect the following common spreads based on their account type and financial instrument.
| 💻 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
Ugandans might also expect the following common spreads based on their account type and financial instrument.
Overnight Fees, Rollovers, or Swaps
👉 Ugandans can easily access Weltrade’s overnight rates by visiting the platform’s “Trading Instruments” section. Overnight commissions for EUR/USD and BTC/USD trading can look like this:
| 💻 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 fees when a customer from Uganda funds an account to begin trading. However, there are certain fees associated with making a withdrawal. These fees are as follows:
➡️ 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
👉 If a trader does not use their trading account for three months, they will be charged a USD 15 inactivity fee.
Currency Conversion Fees
👉 Ugandans who make deposits or withdrawals in a currency other than USD (or EUR on the Micro Account) will incur currency translation fees.
👉 These fees are calculated based on the deposit and withdrawal amounts and the exchange rate between the USD and the deposit/withdrawal currency.
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 | 🥈 JustMarkets | 🥉 ACY Securities | |
| Minimum Withdrawal Time | 30 Minutes | Instant | 24 to 48 hours |
| Maximum Estimated Withdrawal Time | Several Days | 10 bank days | 5 to 7 working days |
| Instant Deposits and Instant Withdrawals? | Yes, Deposits | Yes | 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, IDR | Instant | 30 minutes |
How to Deposit Funds with Weltrade
👉 To deposit funds to an account with Weltrade, Ugandan Traders can follow these steps:
➡️ Traders can fund their accounts by logging in to the client site and selecting “Deposit” from the options menu.
➡️ Traders can choose the most convenient deposit option and the account they want to fund.
➡️ Ugandans can then select a currency; enter the minimum amount of money they want to deposit and proceed with the transaction.
➡️ Traders can take whatever additional actions are required to validate and finalize their deposits.
Weltrade Fund Withdrawal Process
👉 To withdraw funds from an account with Weltrade, Ugandan Traders can follow these steps:
➡️ Traders can log into their personal area and account to withdraw funds.
➡️ Traders can navigate to the sections labelled “funds” or “accounts” and click on the option.
➡️ Click ‘withdraw funds’ to start moving money from your Weltrade account to your bank account.
➡️ Withdrawing funds from your Weltrade account is quick and easy; the company handles withdrawal requests within 30 minutes.
Weltrade Education and Research
Education
👉 Customers who want to improve their trading skills can take advantage of the educational information offered by an increasing number of brokers in the form of articles, videos, webinars, and courses.
👉 Weltrade, for example, provides registered account holders with access to live or on-demand courses that explain the complexity of various financial markets. These seminars are available to account holders at any time.
👉 Weltrade provides the following educational resources:
➡️ Training
➡️ Seminars
Research and Trading Tool Comparison
| 🥇 Weltrade | 🥈 JustMarkets | 🥉 ACY Securities | |
| Economic Calendar | Yes | Yes | Yes |
| VPS | No | Yes | No |
| AutoChartist | No | No | No |
| Trading View | No | No | No |
| Trading Central | No | No | No |
| Market Analysis | Yes | Yes | Yes |
| News Feed | Yes | Yes | Yes |
| Blog | Yes | Yes | Yes |
👉 Traders are continuously seeking ways to gain an advantage. Weltrade provides its clients with a few useful supplementary tools to assist them in predicting market moves more accurately.
👉 A trading calculator can help users receive a preview of margin size, spreads, and swap rates. In contrast, an economic calendar can help investors keep track of upcoming market happenings.
👉 Furthermore, unlike many competitors, Weltrade does not provide traders with a free virtual private server (VPS). Weltrade also provides the following extra Research and Trading Tools to Ugandan traders:
➡️ Economic Calendar
➡️ Trading Calculator
Weltrade Bonuses and Promotions
➡️ Demo Trading Contest where Ugandans can earn $20,000.
➡️ Introducing Brokers (IB) contest with prizes up to $25,000.
➡️ Trading Contest to win an iPhone 13 Pro Max.
➡️ Astro Cards and Spinner Games.
➡️ 100% credit bonus for MT5 accounts.
How to open an Affiliate Account with Weltrade
👉 To register an Affiliate Account, Ugandan Traders can follow these steps:
➡️ Go to the Weltrade website and select the “Partners” page.
➡️ The first step is to open an IB account with Weltrade and activate the affiliate program.
➡️ Inform contacts about your special affiliate link by sending it to them or posting it on social platforms.
➡️ Track the growth of your affiliates with Weltrade’s resources and new analytic tools.
➡️ Expect adequate remuneration.
Weltrade Affiliate Program Features
👉 Traders who participate in the affiliate program have a higher earning potential. A partner’s monthly take-home compensation is determined by the volume of business. The system monthly checks the partner’s sales results and updates their status accordingly.
👉 Affiliates in Uganda can profit from Weltrade’s three levels of commission sharing:
➡️ Standard – up to 65% of earnings per client.
➡️ Professional – up to 75% earnings per client.
➡️ Expert – 85% earnings per client.
Weltrade Customer Support
👉 After using the Weltrade service, consumers may contact the company’s customer support department for technical assistance.
👉 A customer service team’s accessibility, responsiveness, and availability are all crucial factors to consider because customers often need to reach out for assistance.
| 📞 Customer Support | ✔️ Weltrade Customer Support |
| Operating Hours | 24/7 |
| Support Languages | Multilingual |
| Live Chat | Yes |
| Email Address | Yes |
| Telephonic Support | Yes |
| Local Support in Uganda? | No |
| The overall quality of Weltrade Support | 3/5 |
Weltrade Corporate Social Responsibility
👉 Weltrade does not currently address its CSR on the official website.
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’s current CEO, Igor Galkin, the broker attempts to ensure that all clients may anticipate various trading options, transparent terms, and a safe trading environment.
Weltrade Risk Warning and Disclaimer for Ugandans
👉 Traders must know that the possibility of loss may be significant. Consequently, they must evaluate their financial resources before engaging in commercial activity.
👉 Weltrade is not responsible for the trader’s investment or trading-related losses. There are inherent dangers associated with foreign exchange and margin trading, including political and economic conditions, natural disasters, and more.
👉 Accordingly, traders must acknowledge, regardless of their education or experience, that speculative trading is challenging.
Our Final Verdict on Weltrade
👉 The company has been offering brokerage services for 16 years and has a large network of branches and representative offices. Furthermore, the broker prioritizes high-quality service, is constantly evolving, and operates transparently.
👉 There is some concern about the company’s offshore location. However, this issue becomes moot if Weltrade satisfies all the Forex market’s standards.
👉 Funding can be obtained through a variety of methods, including Bitcoin. Furthermore, withdrawals are processed within 30 minutes, 24 hours a day, seven days a week. On the negative, there are fees associated with each withdrawal choice.
Weltrade Alternatives
➡️ HFM – HFM is an excellent all-around broker. HFM offers over 1,000 CFDs that can be traded via MT4 and MT5. HFM charges zero-pip spreads and does not charge any deposit or withdrawal fees.
➡️ Exness – In Uganda, Exness offers novices the best cent trading account. The Exness Standard Cent Account requires a minimum deposit of merely 1 USD. In addition, it has significantly cheaper trading fees and spreads than other cent accounts, as low as 0.3 pips.
➡️ FBS – FBS’s strength is its variety of trading accounts, which accommodate all types of traders. Beginners will concentrate on the Cent Account with a minimum deposit of 1 USD or the Micro Account with a minimum deposit of 5 USD. Except for the ECN account, all accounts provide leverage of 3000:1 for experienced traders.
FAQ
Is Weltrade Safe or a Scam?
Based on its regulatory background and user reviews, Weltrade is a trustworthy broker.
Is Weltrade regulated?
Weltrade is administered by the SVG FSA in Saint Vincent, while the FSCA governs South Africa.
Which trading platforms can I use with Weltrade?
Depending on your account type, you can choose MetaTrader 4, MetaTrader 5, or the Weltrade terminal.
How long will my withdrawal from Weltrade take?
When you request a withdrawal, it will be processed within 30 minutes. After making a payment, the funds could show in your bank account between a few minutes and a few days, depending on the selected method.
What is the minimum deposit for Weltrade?
The minimum deposit for Weltrade is 1 USD or an equivalent of 3,800 UGX.
Does Weltrade have Volatility 75?
Volatility 75 is unavailable via Index CFDs at Weltrade.
Can I register a demo account with Weltrade?
You can register an unlimited demo account with Weltrade to receive 100,000 USD in virtual funds.
Does Weltrade have Nasdaq?
To trade the Nasdaq on Weltrade, go to the “NDXUSD” listing. Spreads on many accounts begin at 2 pip.
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