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.

Updated : November 4, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets


Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons


Overall Rating

Min Deposit


Trading Desk



Total Pairs

Islamic Account


Trading Fees


Account Activation Time

24 Hours


👉 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 Tanzanian 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.



👉 Weltrade accepts Tanzanian 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 Execution4/5
➡️ Commissions and Fees4/5
➡️ Range of Markets4/5
➡️ Variety of Markets3/5
➡️ Withdrawal Speed4/5
➡️ Customer Support5/5
➡️ Trading Platform4/5
➡️ Education1/5
➡️ Research2/5
➡️ Regulation3/5
➡️ Mobile Trading4/5
➡️ Trust Score89%

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.

➡️ Sharre O – “1:1000 leverage no commission deposit 30 minutes withdrawal what more required to join I have been their client from 2018 always best 24/7 support immediately solution for issues” – March 2023 (quoted verbatim – Trust Pilot)

➡️ “I participated in the trading competition and i won one of the positions, and I found that they excluded me for no reason, and when I found out with technical support, they finished the conversation and sent them a lot of messages, but they never answered me.” – Ahmed1119 – February 2021 (quoted verbatim from Forex Peace Army)

➡️ “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” Durval – Alagoas Brazil (quoted verbatim – Forex Peace Army)

➡️ Latest Existing/Previous Customer Comments on Weltrade for 2023

➡️ “Weltrade is a partner with HitBTC so I open an Crypto account with them. So far, I like how their Price Quote feeds. It seems it’s an ECN or bots quotes and re quoting which is great for advance market players!” – risingzombi – Orjansted, Aruba (quoted verbatim – Forex Peace Army)

➡️ 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)

➡️ 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)


Detailed Summary of Weltrade

👉 Weltrade, based in Saint Vincent and the Grenadines, is supervised by the SVG Financial Services Authority (FSA). At the same time, its subsidiary in South Africa, Weltrade SA (PTY) Ltd, is overseen by the Financial Sector Conduct Authority (FSCA).

👉 Weltrade is like other brokers because it has multiple account tiers. The higher tiers require larger deposits in exchange for lower spreads.

👉 There is also a Digital Account for digital trading currencies and a Zulutrade Account with commission per traded lot and huge spreads (up to 2.9 pips on the EUR/USD).

👉 Six live accounts are available on Weltrade, each of which can accommodate novice and expert traders. Weltrade is an STP broker that facilitates foreign trading exchange, metals, cryptocurrencies, and digital currencies.

👉 Prize drawings for cash awards, 100% deposit bonuses for MT5, demo contests, spinners, and puzzle games are just a few examples of the wide variety of active specials and promotions available at Weltrade.

Advantages that Weltrade has over competitors

➡️ Tanzanians have access to powerful trading software through mobile devices, online browsers, and desktop computers; spreads can be changeable and begin at zero pips.

➡️ Tanzania’s individuals could participate in algorithmic trading by utilizing robots and indexes.

➡️ The website offers up-to-date market and currency news and free statistical information.

➡️ Traders can earn interest on certain accounts, and Tanzanian customers are regularly given rewards through contests and promotions.


Who will Benefit from Trading with Weltrade?

👉 Despite Weltrade’s user-friendly solutions, some users might be put off by the absence of documentation. Furthermore, because Weltrade’s spreads are so minimal compared to those of other brokers, it is ideally suited to traders using high-frequency trading strategies.


Trading with Weltrade Pros and Cons

✔️ Pros❌ Cons
Weltrade offers a choice between account types.There are no comprehensive educational resources, tools, or materials.
Weltrade offers a choice between powerful trading platforms.There is a lack of trading tools.
Traders can start trading on a Micro Account.Several non-trading fees are applied.
Low Deposit Minimums.There is no dedicated TZS account.
Competitive spreads and zero commissions on most accounts.
24/7 customer support and withdrawals.

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 does not hold a significant share of the Tanzanian FX and CFD market. However, despite its lack of presence in Tanzania, Weltrade is ranked among the top 120 brokers for Tanzanian traders.

Weltrade At a Glance

🌃 HeadquarteredSaint Vincent and the Grenadines
🌇 Global OfficesSaint Vincent and the Grenadines
⚖️ Local Market Regulator in TanzaniaBank of Tanzania (BoT)
💸 Foreign Direct Investment in Tanzania$0.99B in 2019
💰 Foreign Exchange Reserves in Tanzania6.714 billion US dollars in 2021
🏙 Local office in Dodoma?No
👥 Governor of SEC in TanzaniaNone, Benno Ndulu is the Central Bank Governor in Tanzania
✔️ Accepts Tanzanian Traders?Yes
💡 Year Founded2006
☎️ Tanzanian Office Contact NumberNone
📱 Social Media Platforms• Facebook
⚖️ RegulationSVG FSA, FSCA
1️⃣ Tier-1 LicensesNone
2️⃣ Tier-2 Licenses• Financial Sector Conduct Authority (FSCA)
3️⃣ Tier-3 Licenses• Saint Vincent and the Grenadines Financial Services Authority (SVG FSA)
🪪 License Number• Saint Vincent – 24513
• South Africa – 50691
⚖️ BoT RegulationNo
📉 Regional RestrictionsUnited States, Canada, Russia, Belarus
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts6
✔️ PAMM AccountsNone
📱 Liquidity ProvidersUnknown
✔️ Affiliate ProgramYes
📈 Order ExecutionMarket
📊 Starting spread0.0 pips
💵 Minimum Commission per Trade1.5 points
💳 Decimal Pricing5th decimal pricing
📞 Margin Call20% – 40%
🛑 Stop-Out10% – 20%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size150 lots
💻 Crypto trading offered?Yes
✅ Offers a TZS Account?No
👤 Dedicated Tanzanian Account Manager?No
📈 Maximum Leverage1:1000
📊 Leverage Restrictions for Tanzania?No
💵 Minimum Deposit (TZS)2,300 TZS ($1)
✅ Tanzanian Shilling Deposits Allowed?Yes
✔️ Active Tanzanian Trader Stats50,000+
👥 Active Tanzanian-based Weltrade customersUnknown
🔁 Tanzania Daily Forex TurnoverUnknown, Forex overall is $6.6 Trillion
💵 Deposit and Withdrawal Options• Credit/Debit Card
• Skrill
• Neteller
• Crypto
• Perfect Money
• Indonesian Local Bank
• Fasapay
⏱ Minimum Withdrawal Time30 minutes
⏰ Maximum Estimated Withdrawal TimeSeveral days
💰 Instant Deposits and Instant Withdrawals?Yes, Deposits
✅ Segregated Accounts with Tanzanian Banks?No
💻 Trading Platforms• Weltrade terminal
• MetaTrader 4
• MetaTrader 5
💵 Tradable Assets• Forex
• Share CFDs
• Indices
• Cryptocurrency
• Metals
• Energies
💳 Offers USD/TZS currency pair?None
💰 USD/TZS Average SpreadNone
✅ Offers Tanzanian Stocks and CFDsNone
📱 Languages supported on the WebsiteMultilingual
📞 Customer Support LanguagesMultilingual
✔️ Copy Trading SupportYes
⏰ Customer Service Hours24/7
👥 Tanzanian-based customer support?No
✔️ Bonuses and Promotions for TanzaniansYes
📚 Education for Tanzania beginner tradersYes
📱 Proprietary trading softwareYes
👤 Most Successful Tanzanian TraderUnknown
💻 Is Weltrade a safe broker for Tanzanians?Yes
✅ Rating for Weltrade Tanzania8/10
✔️ Trust score for Weltrade Tanzania89%
👉 Open Account👉 Open Account

Weltrade Regulation and Safety of Funds

Weltrade Regulation in Tanzania

👉 The local market regulators in Tanzania are as follows:

➡️ Bank of Tanzania (BoT)


👉 While Weltrade is regulated globally, the broker does not yet have local regulations or licenses in Tanzania. However, Weltrade is a popular and trustworthy broker that accommodates Tanzanian traders.


Weltrade Global Regulations

👉 Weltrade is well-regulated in both South Africa and Saint Vincent and the Grenadines, as follows:

➡️ Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) has granted the company Systemgates Ltd a license. The registration number of the corporation is 24513.

➡️ The Financial Sector Conduct Authority (FSCA) of South Africa has granted Weltrade SA (PTY) Ltd. license number 50691, allowing it to operate as a regulated Financial Service Provider in that nation. When this registration was finished, the number 2019/33494/07 was assigned.


How Weltrade Protects Traders and Client Funds

👉 It is reasonable to assume that Weltrade is a trustworthy and forthright broker. MT4 and MT5 use SSL technology to encrypt all user information securely. Authentication steps can include requesting a verification code by email or phone call.

👉 A further safeguard against dangers, indeed. In addition, the Cashier section of your account page is where you will conduct business with the website.


Security while Trading

➡️ Weltrade ensures that customer monies are always kept in a separate account from company funds.

➡️ In addition, it protects customer data by encrypting it with software and requiring a second identification element. This safeguards the client’s assets and privacy throughout the process.

➡️ As a standard feature, retail accounts are provided with an automated safeguard against the possibility of having a negative balance.

➡️ Weltrade does not indicate that Investor Protection is provided if the broker experiences financial hardship, declares bankruptcy, or is otherwise unable to meet its financial obligation. 

➡️ Weltrade does not suggest that Investor Protection is offered if the broker experiences severe financial difficulties, declares bankruptcy, or is otherwise unable to satisfy its financial responsibility.

➡️ The Margin Call and Stop-out policy are enforced when a client’s account balance falls below a predetermined threshold.


Pros and Cons Regulation and Safety of Funds

✔️ Pros❌ Cons
Both the SVG FSA (Tier-3) and the FSCA (Tier-2) have authority over Weltrade in terms of their oversight responsibilities There are no records of any audits on Weltrade
The financial obligations of Weltrade are satisfied without turning to monies provided by customersThere is a lack of Tier-1 regulation from entities such as the FCA, ASIC, and others
Weltrade offers several security featuresThere is no indication of whether investor protection is given if the broker goes bankrupt
Client funds are kept in segregated accounts

Weltrade Account Types and Features

👉 Six distinct account options are available on Weltrade, each catering to a different trading requirement. These accounts are:

➡️ Micro Account

➡️ Universe Account

➡️ Premium Account

➡️ Pro Account

➡️ Digital Account

➡️ ZuluTrade Account

💻 Live Account💰 Minimum Dep.📊 Average Spread💵 Commissions💸 Average Trading Cost
Micro2,300 TZS / 1 USD1.5 pipsNone15 USD
Universe2,300 TZS / 1 USD0.5 pipsNone5 USD
Premium58,300 TZS / 25 USD1.5 pipsNone15 USD
Pro230,000 TZS / 100 USD0.5 pipsNone5 USD
Digital110,000 TZS / 50 USD2 pipsNone0.2 USD
ZuluTrade460,000 TZS / 200 USD2.9 pips1.5 pips44 USD


Weltrade Live Trading Account Details

Micro Account

👉 The final option is a ZuluTrade account, which lets you copy the trades of successful traders. Only this option includes the market price and a commission of 1.5 pips.


👉 Leverage of between 1:33 and 1:500 is available for accounts with a minimum deposit of 2,300 TZS. This account’s features are summed up as follows:

Account FeatureInformation
💵 Account CurrencyUSD or EUR cents
💸 Average trade execution 0.9 seconds
💰 Minimum Deposit2,300 TZS ($1)
📈 Average SpreadVariable, from 1.5 pips
📊 Trade Execution TypeMarket Execution
💸 Commissions chargedNo, only the spread
💰 Quote5th decimal pricing
💵 Maximum lots per order1,000 cent lots
📊 Maximum open orders100 lots
📉 Maximum pending orders100 lots
📈 Maximum Leverage Ratio1:33 to 1:1000
🔧 Margin Call Percentage20%
🛑 Stop-Out Level10%
📱 Trading Platform AvailableMetaTrader 4 and MetaTrader 5
💻 Access to Auto Trading?Yes
✔️ Swap-Free Available?Yes
🔧 Instruments Available on this Account• Forex
• Metals


Universe Account

👉 Customers with Universe accounts have access to the commodities, metals, foreign exchange (FX), and cryptocurrency markets via the Weltrade interface. To start this account, you must make an initial deposit of at least 2,300 TZS.


👉 Leverage on floating orders ranges from 1:1 to 1:1000, with spreads on crypto assets starting at 0 pip and currency pairings at 0.5 pip. The following summarizes the main points in this account:

Account FeatureInformation
💵 Account CurrencyUSD
💸 Average trade execution 0.4 seconds
💰 Minimum Deposit2,300 TZS ($1)
📈 Average SpreadVariable, from 0.0 pips
📊 Trade Execution TypeMarket Execution
💸 Commissions chargedNo, only the spread
💰 Quote5th decimal pricing
💵 Maximum lots per order100 lots
📊 Maximum open orders100 lots
📉 Maximum pending orders100 lots
📈 Maximum Leverage Ratio1:1 to 1:1000
🔧 Margin Call Percentage20%
🛑 Stop-Out Level10%
📱 Trading Platform AvailableWeltrade Terminal
💻 Access to Auto Trading?No
✔️ Swap-Free Available?Yes
🔧 Instruments Available on this Account• Forex
• Metals
• Commodities
• Cryptocurrencies


Premium Account

👉 A higher initial deposit of 58,300 TZS is required from customers who want to register a Premium account compatible with MT4 and MT5.


👉 Except for bitcoin CFDs, all markets have a minimum floating spread of 1.5 pips. Here, the minimum leverage and maximum margin criteria for the Micro account of 1:33 and 1:1,000 apply. The following summarizes the key aspects of this account:

Account FeatureInformation
💵 Account CurrencyUSD
💸 Average trade execution From 0.8 seconds
💰 Minimum Deposit58,300 TZS ($25)
📈 Average SpreadVariable, from 1.5 pips
📊 Trade Execution TypeMarket Execution
💸 Commissions chargedNo, only the spread
💰 Quote5th decimal pricing
💵 Maximum lots per order100 lots
📊 Maximum open orders100 lots
📉 Maximum pending orders100 lots
📈 Maximum Leverage Ratio1:33 to 1:1000
🔧 Margin Call Percentage20%
🛑 Stop-Out Level10%
📱 Trading Platform AvailableMetaTrader 4 and MetaTrader 5
💻 Access to Auto Trading?Yes
✔️ Swap-Free Available?Yes
🔧 Instruments Available on this Account• Forex
• Metals
• Commodities
• Cryptocurrencies


Pro Account

👉 The best trading conditions are offered with the Weltrade Pro account. This MetaTrader-focused edition is compatible with all assets except for cryptocurrencies and provides floating spreads beginning at 0.5 pip.


👉 The minimum opening deposit for this account is 230,000 TZS, and the base currency must be USD. The following summarizes the key aspects of this account:

Account FeatureInformation
💵 Account CurrencyUSD
💸 Average trade execution From 0.5 seconds
💰 Minimum Deposit230,000 TZS ($100)
📈 Average SpreadVariable, from 1.5 pips
📊 Trade Execution TypeMarket Execution
💸 Commissions chargedNo, only the spread
💰 Quote5th decimal pricing
💵 Maximum lots per order100 lots
📊 Maximum open orders150 lots
📉 Maximum pending orders100 lots
📈 Maximum Leverage Ratio1:1 to 1:1000
🔧 Margin Call Percentage20%
🛑 Stop-Out Level10%
📱 Trading Platform AvailableMetaTrader 4 and MetaTrader 5
💻 Access to Auto Trading?Yes
✔️ Swap-Free Available?Yes
🔧 Instruments Available on this Account• Forex
• Metals
• Commodities
• Cryptocurrencies


Digital Account

👉 The floating spreads start at 0 pip spreads and exclusively support cryptocurrencies. The margin call cap is 40%, and the stop-out cap is 20%, double what normal accounts allow. To create an account, you must deposit 110,000 TZS or more.


👉 Margin trading is authorized using MT4 and MT4 terminals, and leverage of up to 1:100 is allowed. The following summarizes the key aspects of this account:

Account FeatureInformation
💵 Account CurrencyUSD
💸 Average trade execution From 0.7 seconds
💰 Minimum Deposit110,000 TZS ($50)
📈 Average SpreadVariable, from 1.5 pips
📊 Trade Execution TypeMarket Execution
💸 Commissions chargedNo, only the spread
💰 Quote5th decimal pricing
💵 Maximum lots per order100 lots
📊 Maximum open orders100 lots
📉 Maximum pending orders100 lots
📈 Maximum Leverage Ratio1:3 – 1:100
🔧 Margin Call Percentage20%
🛑 Stop-Out Level10%
📱 Trading Platform AvailableMetaTrader 4 and MetaTrader 5
💻 Access to Auto Trading?Yes
✔️ Swap-Free Available?Yes
🔧 Instruments Available on this Account39 Cryptocurrencies


ZuluTrade Account

👉 A ZuluTrade account is the ultimate choice, enabling you to mimic winning traders’ moves. The market price and a 1.5 pip commission are only included in this choice.


👉 For accounts with a minimum deposit of 460,000 TZS, leverage in the range of 1:33 and 1:500 is possible. The following summarizes the key aspects of this account:

Account FeatureInformation
💵 Account CurrencyUSD
💸 Average trade execution From 0.7 seconds
💰 Minimum Deposit460,000 TZS ($200)
📈 Average SpreadVariable, from 2.9 pips
📊 Trade Execution TypeMarket Execution
💸 Commissions chargedNo, only the spread
💰 Quote5th decimal pricing
💵 Maximum lots per order100 lots
📊 Maximum open orders100 lots
📉 Maximum pending orders100 lots
📈 Maximum Leverage Ratio1:33 to 1:1000
🔧 Margin Call Percentage20%
🛑 Stop-Out Level10%
📱 Trading Platform AvailableMetaTrader 4
💻 Access to Auto Trading?Yes
✔️ Swap-Free Available?Yes
🔧 Instruments Available on this Account39 Cryptocurrencies


Weltrade Demo Account

👉 Since there is no mention of a time restriction, the demo accounts offered by Weltrade appear to be permanent. Due to this, they are useful for algorithmic traders in developing and troubleshooting strategies.


👉 This account is ideal for beginners since it lets them immediately become familiar with the trading interface. Demo accounts are available on both the MT4 and MT5 trading platforms.


👉 Traders in Tanzania are encouraged to utilize the demo account the same way they would their live account, with a deposit and leverage levels representative of their normal trading.


👉 With a demo account, newbies may try out the platform’s tools and investigate different providers of copy trading signals or automated trading bots. But they should be careful when simulating real-world trading conditions in a practice account.


👉 In most cases, the lack of trading psychology reduces the simulation’s efficacy and leads to unrealistic trade expectations. However, by opening a sample account, you may study the basics and get comfortable with a broker’s platform and user interface.


Weltrade Islamic Account

👉 Muslim traders who want to be exempted from overnight fees that Sharia prohibits can email Weltrade’s customer support once their live account has been approved. In this email, traders can request an account conversion to an Islamic or Swap-Free Account.


Weltrade Professional Account

👉 Weltrade’s Premium and Pro Accounts are available to experienced traders in Tanzania. When traders sign up for these accounts, they can access various benefits.

➡️ Depending on the market conditions, trades can be executed in as little as 0.5 seconds and as much as 0.8 seconds.

➡️ For many liquid instruments, spreads may start as little as 0.5 pips.

➡️ No hidden fees or commissions.

➡️ Deals are made at the prevailing market rate.

➡️ For major currency pairings, maximum leverage of 1:1000 is available.

➡️ There are no limits on how much money may be in your account at any time.

➡️ If your stop loss is 10% and your margin need is 20%, you should expect a margin call notification.


Weltrade Spread Betting Account

👉 Weltrade does not provide a spread betting account to EU/UK traders.


Weltrade Base Account Currencies

👉 In the world of trading, different accounts use different currencies. For example, you may only use USD to fund your Pro, Zulutrade, or Digital account. Micro accounts, however, can be opened in either the US dollar or the Euro.


👉 Because of the added cost of foreign exchange on both deposits and withdrawals, Weltrade is not a good option for traders in Tanzania.


Weltrade Basic Order Types

👉 Regardless of the account type Weltrade’s Tanzanian users selected, all traders are executed on the market. This is a breakdown of the typical trade execution times Tanzanians should anticipate encountering:

➡️ 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


Pros and Cons Weltrade Account Types and Features

✔️ Pros❌ Cons
The accounts offered by Weltrade are flexible and feature competitive pricingTanzanians are not given a TZS-denominated account
The fee schedule is transparent and easy to understandThe trading fees with Weltrade are higher than that of competitors
Traders can expect tight spreads and competitive commissions
The demo account never expires
There is an Islamic account for Muslim traders

How to open an Account with Weltrade in Tanzania

➡️ Signing up for Weltrade is as simple as entering your name, email address, and phone number into the online app and takes less than 20 seconds.

➡️ Investors may sign up for an account using their existing Google, Facebook, or Line credentials.

➡️ Weltrade’s streamlined onboarding procedure is made possible by a minimum of form filling on the part of new users.

➡️ However, your account must be verified before you can use it. In addition, traders in many countries need a copy of their ID and a form of residence evidence to operate.

➡️ Weltrade traders may be asked to provide more information while opening a live account.

Weltrade MAM / PAMM Features

👉 Using a PAMM trading setup, traders can have one expert handle their money across many accounts. On the other hand, a Managed Assets Manager (MAM) account is a unique expert trading account that offers variable sub-allocation options.


👉 A “Multi-Account Manager,” or MAM, gives investors more latitude to divide trades among many accounts. In addition, the introduction of fixed-lot allocations by MAM is also for the advantage of portfolio managers.


👉 Currently, Weltrade does not provide the option for PAMM or MAM accounts.

Social Trading with Weltrade

👉 Social trading platform Weltrade is a brokerage company. Weltrade has partnered with well-known companies like ZuluTrade and MQL5. You must carry out five easy steps before accessing the social trading platform ZuluTrade through the Weltrade broker:

➡️ Tanzanian traders may create an account on the Weltrade website.

➡️ Traders can open a Weltrade ZuluTrade account with a minimum deposit of $200 (or 460,000 TZS).

➡️ Following the completion of registration and initial investment, traders will get an email containing their login information for the online site.

➡️ The “Settings” section of the ZuluTrade Control Panel is where traders may link their accounts by providing their account number and password.

➡️ A Tanzanian who starts following a supplier on this network has immediate access to several services. Additionally, they may anticipate having their wishes fulfilled quickly.

Broker Comparison

📱 Trading Platform• Weltrade Terminal
• MetaTrader 4
• MetaTrader 5
• MetaTrader 4
• MetaTrader 5
OANDA Platform
• TradingView
• MetaTrader 4
• MetaTrader 5
• FOREX.com Platform
💰 Withdrawal FeeYesYes, bank wireNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit2,300 TZS ($1)0 TZS230,000 TZS
📈 Leverage1:10001:2001:400
📊 SpreadFrom 0.0 pipsVariable, from 0.1 pipsFrom 0.2 EUR/USD
💰 Commissions1.5 pips$40$10 per round turn
✴️ Margin Call/Stop-Out• 20% – 40%
• 10% – 20%
100%/ 50%100%/50%
✴️ Order ExecutionMarketMarketMarket
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsYes, MicroNoNo
📈 Account Types• Micro Account
• Universe Account
• Premium Account
• Pro Account
• Digital Account
• ZuluTrade Account
• Standard Account
• Core Account
• Swap-Free Account
• Standard Account
• Commission Account
• DMA Account
⚖️ CBN RegulationNoNoNo
💳 NGN DepositsNoYesNo
📊 Tanzanian Naira AccountNoNoNo
👥 Customer Service Hours24/724/524/5
📊 Retail Investor Accounts633
☪️ Islamic AccountYesYesYes

Weltrade Trading Platforms

👉 Weltrade offers Tanzanian Traders a choice between these trading platforms:

➡️ Weltrade Terminal

➡️ MetaTrader 4

➡️ MetaTrader 5


Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5


MetaTrader 4 and 5

👉 MT4 has more than fifty tools and indicators for sophisticated analysis. Traders that desire a uniform interface across all their accounts and terminals should go for MT4. The MT5 platform provides unparalleled trading and technical analysis features.


👉 Investors may now access better charts, technical indicators, and other trading materials. Moreover, the MT5 trading platform provides users access to automated trading robots and extensive market data.


WebTrader Platforms

➡️ Weltrade Terminal

➡️ MetaTrader 4

➡️ MetaTrader 5


Weltrade Terminal

👉 Customers with a Universe account may trade foreign currency, indices, commodities, and cryptocurrencies on the Weltrade terminal using an intuitive browser-based interface.


👉 The software offers more than 50 drawing tools and 100 indicators, allowing users to create accurate price forecasts for various assets.


👉 The Weltrade terminal has an advantage over the MetaTrader platforms because it does not need the user to leave the interface to make a deposit or withdrawal.


👉 This service lacks a mobile app, which is a significant shortcoming. However, mobile users can access the terminal using a web browser.


MetaTrader 4 and 5

👉 MetaTrader 4 and MetaTrader 5 are available on the online terminal for users who prefer not to switch web browsers or download extra software.


👉 The online platform is equally as secure and speedy as its desktop versions. Moreover, it includes all the features newcomers and professional traders might need.


Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5


MetaTrader 4 and 5

👉 MetaTrader4 (MT4) and MetaTrader5 (MT5) are mobile trading platforms accessible on iOS, Android, and Windows mobile devices in Tanzania.


👉 If a user’s desktop software and mobile application are synchronized, they may trade seamlessly regardless of location or device.


👉 Traders can continue to cancel or modify orders, calculate profit and loss levels, and use charting tools. However, consumers should be aware that these functions are severely constrained compared to PC trading platforms.


👉 Nonetheless, Tanzanian traders should know that this tool offers fewer chart kinds and shorter timeframes.


Pros and Cons Weltrade Trading Platforms

✔️ Pros❌ Cons
Tanzanians can choose between MT4 and MT5 depending on their trading accountThere is no native mobile app
There is a proprietary terminal offered

Weltrade Investment Programs

👉 Weltrade does not provide any services associated with PAMM or MAM systems, nor do they provide any investment plans. In contrast, ZuluTrade and Weltrade’s affiliate scheme make it possible to engage in social and copy trading.


👉 You do not need special knowledge or training to use the ZuluTrade or MQL5 systems. Further, you will not have to install any extra software to have repeated discounts occur automatically.


👉 Investors use copying services on the assumption that the service would automatically replicate the transactions of a chosen trader on their behalf. The investor will pay the broker a commission equal to some fraction of the gain made on the deal.


👉 All the following are available to you when you utilize Weltrade’s automated trading features:

➡️ Figure out the scope of the deal or where they feel most comfortable.

➡️ They will not have to keep an eye on the market all the time because their favourite trading strategies’ signals will be implemented mechanically.

➡️ The Margin “Call-O-Meter” enables you to set limits and stops, allowing you to exercise control over your risk exposure.

Which Markets can You Trade with WELTRADE?

👉 Tanzanian 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
Share CFDs2141:33


Pros and Cons Weltrade Range of Markets

✔️ Pros❌ Cons
Leverage from 1:1 up to 1:3000 can be used depending on the account type and financial instrumentsLeverage restrictions will apply
Tanzanians can trade several CFDs on indices, shares, crypto, and commoditiesShares can only be traded as CFD instruments
There are 37 forex pairs spread across major, minor, and exotic pairs

Broker Comparison for a Range of Markets

Precious MetalsYesYesYes

Weltrade Trading and Non-Trading Fees


👉 Tanzanian traders can expect floating spreads according to the account type they use. Floating spreads will also depend on the instrument being traded and the market conditions when trades are made. Below are some average spreads on EUR/USD:

➡️ Micro Account – from 1.5 pips

➡️ Universe Account – from 0.0 or 0.5 pips

➡️ Premium Account – from 1.5 pips

➡️ Pro Account – from 0.5 pips

➡️ Digital Account – from 0.0 or 0.5 pips

➡️ ZuluTrade Account – from 2.9 pips


👉 The following is a list of standard spreads that Tanzanians might anticipate, depending on the type of account they use and the financial instrument they trade.

💻 Micro📱 Universe💵 Premium💸 Pro💰 Digital💸 ZuluTrade
EUR/USD1.5 pips0.5 pips1.5 pips0.5 pips2.9 pips
XAG/USD3 pips1.4 pips3 pips1.4 pips4 pips
XAU/USD41 pips9 pips41 pips9 pips50 pips
NDXUSD2 pips2 pips2 pips8 pips
XBR/USD6.7 pips10.7 pips6.7 pips
Apple, Inc.11 pips11 pips
BTC/USD150 pips150 pips



Weltrade only charges commissions of 1.5 points on the ZuluTrade Account, and all other accounts are commission-free, with marked-up spreads.


Overnight Fees, Rollovers, or Swaps

👉 Traders can expect to receive/pay overnight fees depending on their position (Buy or Sell), the financial instrument, and position size. The following are some examples of typical overnight prices that traders on the EUR/USD and BTC/USD currency pairs could expect to see:

💻 Account Type🔧 Instrument📈 Swap Long (Buy)📉 Swap Short (Sell)
Micro AccountEUR/USD-0.75 pips0.10 pips
Universe AccountEUR/USD-0.006%0.00084%
Premium AccountEUR/USD-0.75 pips0.10 pips
Pro AccountEUR/USD-0.75 pips0.10 pips
ZuluTrade AccountEUR/USD-0.75 pips0.10 pips
Digital AccountBTC/USD-20%-20%


Deposit and Withdrawal Fees

👉 Weltrade does not charge deposit fees but applies the following withdrawal fees/commissions:

➡️ 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

👉 A $15 inactivity fee will be assessed to traders whose accounts have been dormant for over three months.


Currency Conversion Fees

👉 Tanzanian traders who deposit or withdraw in currencies other than USD (and EUR on the Micro Account) can expect currency conversion fees. These fees will depend on the exchange rate between the base currency of the account and the currency in which deposits/withdrawals are made.


Pros and Cons Weltrade Trading and Non-Trading Fees

✔️ Pros❌ Cons
Weltrade has a transparent fee scheduleNon-trading fees apply
There are low commissions and competitive spreads
There are 5 commission-free accounts

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🥈 OANDA🥉 FOREX.com
Minimum Withdrawal Time30 Minutes1 business dayInstant
Maximum Estimated Withdrawal TimeSeveral Days7 to 10 business daysBetween 1 to 2 working days
Instant Deposits and Instant Withdrawals?YesNoYes


Weltrade Deposit Currencies, Deposit and Withdrawal Processing Times

💸 Payment Method💵 Deposit Currencies💰 Deposit Processing💳 Withdrawal Processing
Credit/Debit CardUSD, RUB, EURInstant30 minutes
SkrillUSDInstant30 minutes
NetellerUSD, EUR, RUBInstant30 minutes
CryptoBTC, ETH, LTC, USDT TRC-20Instant30 minutes
Perfect MoneyUSD, EURInstant30 minutes
Indonesian Local BankIDR24 hours30 minutes
FasapayUSD, IDRInstant30 minutes

How to Deposit Funds with Weltrade

👉 To deposit funds to an account with Weltrade, Tanzanian Traders can follow these steps:

➡️ Traders can deposit money into their accounts by selecting “Deposit” from the options menu after login into the client site.

➡️ Traders can choose the target account and the most convenient deposit method.

➡️ Tanzanian traders can then choose a currency, input the minimum deposit amount, and complete the procedure.

➡️ Traders are free to take any further actions necessary to confirm and complete their deposits.

Weltrade Fund Withdrawal Process

👉 To withdraw funds from an account with Weltrade, Tanzanian Traders can follow these steps:

➡️ Traders can access their Client Portal on the Weltrade website by signing in using their credentials.

➡️ Traders had the choice to “Withdraw” and may do so using the same payment method as their most recent deposit.

➡️ Traders can confirm and carry out their withdrawal requests by entering the requested withdrawal amounts and following any additional instructions that may be provided.

Weltrade Education and Research


👉 Weltrade offers the following Educational Materials:

➡️ Training

➡️ Seminars


Research and Trading Tool Comparison

🥇 Weltrade🥈 OANDA🥉 FOREX.com
Economic CalendarYesYesYes
AutoChartist NoYesYes
Trading ViewNoYesYes
Trading CentralNoNoYes
Market AnalysisYesYesYes
News FeedYesYesYes


👉 Weltrade also offers Tanzanian traders the following additional Research and Trading Tools:

➡️ Economic Calendar

➡️ Trading Calculator

Weltrade Bonuses and Promotions

➡️ Demo account users of Weltrade’s Terminal are eligible to enter a drawing for a $20,000 cash and goods prize package.

➡️ Introducing Brokers might win up to $25,000 in the World Partner Contest 2023 by referring new clients to the Weltrade platform.

➡️ Successful traders who amass 300 lots are eligible to win a free iPhone 13 Pro Max in a raffle. In addition, traders who deposit at least USD 50 into their MT5 account will receive a free round of Astro Cards.

➡️ The MT5 spinner gives traders incentives and cash awards based on their first deposits.

➡️ A credit bonus of 100% for MT5 accounts enables Tanzanians to create greater investments.

➡️ When traders fund their accounts on Weltrade, there are no deposit fees.

How to open an Affiliate Account with Weltrade

👉 To register an Affiliate Account, Tanzanian Traders can follow these steps:

➡️ Go to the Weltrade website and scroll down to the “Partners” section.

➡️ To join the affiliate program, you must first register an IB account with Weltrade.

➡️ Once you have signed up, you may notify your friends and family and share your unique referral link on various social networking platforms.

➡️ Use Weltrade’s resources and new analytical tools to track the growth of your affiliates.

➡️ As more people join Weltrade and actively trade using your affiliate link, you will regularly get payments.


Weltrade Affiliate Program Features

👉 Traders that participate in affiliate programs may be able to boost their earnings. This is because a partner’s monthly compensation is directly proportional to the quantity of business they execute.


👉 The system assesses the partner’s monthly sales statistics and, if required, updates the partner’s position.


👉 Tanzanian affiliates can participate in any of the Weltrade affiliate programs in three tiers to increase their potential profits.

➡️ Standard – up to 65% of earnings per client.

➡️ Professional – up to 75% earnings per client.

➡️ Expert – 85% earnings per client.

Weltrade Customer Support

👉 Given that Weltrade’s major focus is direct client contact, the company’s customer service is expected to have an international reputation.


👉 Weltrade assures that it employs a customized approach to get the most promising outcomes for each customer.


👉 Weltrade provides customer assistance 24 hours a day, seven days a week. In addition, consumers may contact the customer support staff quickly via live chat and email.


👉 Weltrade provides country- and topic-specific email addresses so that they can promptly react to your inquiries. In addition, Tanzanians can contact Weltrade’s staff immediately for assistance with general enquiries, financial issues, technical support, and collaborations.


👉 In addition, clients can schedule a call with Weltrade by filling out a request form. The crew is bilingual, and their website lists fifteen foreign phone lines.

📱 Customer Support💻 Weltrade Customer Support
Operating Hours24/7
Support LanguagesMultilingual
Live ChatYes
Email AddressYes
Telephonic SupportYes
Local Support in Tanzania?No
The overall quality of Weltrade Support3/5



Weltrade Corporate Social Responsibility

👉 Weltrade’s official website does not currently detail any CSR initiatives or projects.

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 CEO Igor Galkin, the company’s mission is to offer foreign currency trading possibilities to traders worldwide, and the broker works carefully to assure safety and transparency.


Weltrade Risk Warning and Disclaimer for Tanzanians

👉 Traders are obligated to be aware of the potential for a big loss. Therefore, before engaging in any trading activity, each trader must evaluate their current financial status.


👉 Weltrade is not accountable for any losses incurred by the trader because they decided to engage in trading and investing.


👉 The inherent hazards of trading foreign currencies on the foreign exchange market and trading on margin can take the shape of political conditions, economic concerns, acts of nature, and other factors.


👉 Moreover, these risks might substantially influence a trader’s capacity to generate a profit. As a result, speculative trading is tough for everyone, regardless of a trader’s expertise or understanding.

Our Final Verdict on Weltrade

👉 Weltrade is a Saint Vincent and the Grenadines-based offshore broker. Since the company’s inception in 2006, this online broker has earned the confidence of more than three hundred thousand traders, primarily from Asia.


👉 Weltrade is an online brokerage organization that offers various services to its consumers. Its Pro account is one of the most popular, offering traders the fastest trading environment in the business.


👉 The UI is well-designed and intuitive. In addition, the organization offers a variety of teaching materials that both beginner traders and seasoned pros could use and benefit from.

Weltrade Alternatives

➡️ Pepperstone – Pepperstone’s low-cost ECN trading service, rapid trade execution, and various third-party trading platforms have made it a favourite amongst seasoned traders and serious novices worldwide. The Standard Account at Pepperstone offers no commission and average spread costs of 0.69 pips on the EUR/USD, making it one of the least expensive trading accounts accessible.

➡️ XM – The Ultra-Low Account, which boasts some of the lowest trading costs in the world, is the major attraction at XM. The Ultra-Low Account is a USD trading account with EUR/USD spreads beginning at 0.6 pips and no fee.

➡️ AvaTradeAvaTrade’s most attractive features are its intelligent risk management tools and direct connectivity to AvaSocial, its popular social trading platform. AvaTrade’s well-designed mobile app, AvaTradeGO, will appeal to mobile traders.


How long does it take to withdraw from Weltrade?

Withdrawals are processed within 30 minutes upon receipt but can take up to a few days to reflect in your trading account.


Does Weltrade have Nasdaq 100?

Weltrade offers Tanzanians the chance to trade Nasdaq 100 as a CFD on Indices.


Does Weltrade have VIX 75?

Weltrade does not have VIX 75 as part of its financial instrument portfolio.


Is Weltrade Safe or a Scam?

Weltrade is regulated by a Tier-1 and Tier-2 entity, ensures client fund security, and has a decent trust score, making it a safe broker.


What commissions does Weltrade charge?

Weltrade charges commissions from 1.5 pips on the ZuluTrade account.


Is Weltrade regulated?

Weltrade is regulated in South Africa by the FSCA (50691) and SVG FSA in Saint Vincent (24513).


For how long can I use the Weltrade demo account?

You can use the Weltrade demo account indefinitely.


Our Review Methodology

👉 For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.


👉 This evaluation comprises positives, disadvantages, and an overall score based on our findings. We want to assist you in locating the ideal broker for your requirements.


👉 Our broker review should not be considered financial advice. However, Tanzanian traders are urged to seek professional financial advice before making any investment or trading decisions.


👉 Now it is your turn to participate:

➡️ Do you have any prior experience with Weltrade?

➡️ What was the determining factor in your decision to engage with Weltrade?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?

➡️ Have you experienced issues with Weltrade, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?


👉 Regardless, please share your thoughts in the comments below.

Rate this article.

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