Thinking of getting into business with Weltex? Here is what you must know about this broker. Carefully read this review to find out if weltex.co is the trading platform you will want to trade with.
Table of Contents
About Weltex Broker
Weltex is an offshore brokerage company with a lot of promises for traders. The broker operates from Poland with a company detail showing —
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Also, the broker claims to offer 24/7 account monitoring by top analyst group, daily market review, monthly session with certified accountant and margin loan.
There are different account types Weltex offers. See below.
In spite the trading instruments Weltex claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
weltex.co: Reasons to Avoid This Broker
Firstly, weltex.co is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because no financial authority monitors its financial activity.
Secondly, we noticed weltex.co has no demo account for traders. Since traders can’t test Weltex on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk.
These are cons for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Weltex provides us with the following information. See below.
Minimum Deposit
Weltex minimum deposit is said to be $10,000 from the account type.
As for the payment methods, Weltex does not indicate clearly its various payment methods. However, you should not consider making any payment with this broker because it is a risk. So beware!
Weltex Platform
Weltex offers web based trading software and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, it can get up to 1:400. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Weltex Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its license and regulation claims are truly a red flag and must be avoided.
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Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
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Conclusion: Is weltex.co a Reliable Broker?
weltex.co does not seem like a reliable broker for traders even though it promises offers that look good to be true.
More so, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we will not recommend this broker for trading. Paragraph
Kindly share your comment about this broker in the comment section.
