As a trader, you can’t survive in your career for a long time if the firm you have signed up with is not working for your prosperity. Just having hundreds and thousands of online companies with trading platforms is not enough. What really makes a difference is the number of companies that really care about what you want as a trader. I think if you make a list of such companies, you will have a small list. In this Weltex review, I will explain to you why on such a list, I will surely have this company toward the top.
Throwing in features after features should not be the focus of any online trading services provider. It’s not the number of features that matter, it’s the number of trader-friendly features that counts. I always try to explain this concept to the new traders, and that’s what I am doing right now. When you look at the account type comparisons, you will notice lots of features, stretching to the bottom of the page as you move on to the advanced trading accounts. However, you have to ignore all of that and focus on what really makes a difference.
I think this firm does a great job of contributing to a great trading experience by focusing on the right features. It does not do that for the sake of it, but for making trading easy and profitable for you. Discover more as you read this review.
|Trading Products||Stocks, Cryptos, Commodities, Forex, Indices|
|Leverages||1:100 to 1:400|
|Account Types||5 (Solo Standard, Solo Gold, Solo Diamond, Solo VIP, Weltex)|
|Commissions Discounts||Up to 75%|
|Trading Platform||Web Trader|
|Customer Support||Web Form, Live Chat, Call Back|
Safe, Easy, and Quick Deposits
To be concerned about the money that you will use for trading is natural. There is nothing wrong with being concerned what will happen to your money. I can tell you that if you have chosen the right team for being your trading partner, this worry will be the last on your list. When you sign up with Weltex, you will have plenty of security at the time of banking. You can deposit money using the safest methods, such as your credit card, debit card, bank transfer, and internet payments. How much time it requires for your money to reach your trading account depends on the method you choose.
The company has allowed you to use any of those methods without any issues. You will even like the fact that depositing funds in your account will not attract any commissions. You can also withdraw money from your trading account without paying any commissions. Credit and debit card transfers are the fastest along with internet payments. Bank wire transfers take time but can offer you the most peace of mind in terms of security. Do make sure that you are aware of the charges from your bank when transferring money into or out of your trading account.
Sometimes, it may seem that the broker has charged a commission on your withdrawal or deposit, but that’s not the case. It is just your bank taking the service charges from you when you make the transfer. So, when you notice one, it is best to get in touch with your bank first.
Segregated Bank Funds and Encrypted Information
Once you have opened your trading account and made the initial deposit, you can rest assured that your money has gone in the right place. It is not easy to have this feeling because people know about a lot of different scams these days. However, you can have peace of mind when you are with the right company because they always have the right measures in place to ensure your security. With Weltex, the money you deposit moves instantly to regulated banks. These banks are audited frequently and are known for their safe services.
The more noteworthy piece of information here is that your money goes into the account that the broker has opened for its traders specifically. Weltex has made sure that it follows all the standards of the industry to make trading great for you. For this reason, the money you deposit goes into this bank account that’s in the name of the traders’ funds. The money that belongs to the company never mixes with the money that’s in your trading account. In addition to segregated funds, the company has some great encryption in place as well.
Firstly, notice the website address that starts with HTTPS. This means the company has proper SSL certificates to ensure the safety of the website. Furthermore, the information that you have to enter while signing is protected through encryption. Encryption is like encoding your information in such a way that only the company has a way to decode that information for you. Any other third parties that are trying to access the information illegally or without authorization cannot even get through the encryption codes.
KYC, AML, and 2FA Authentication
You can experience trading with a new level of security because your company complies with AML and KYC policies. AML, which stands for anti-money laundering, is the policy that regulates the dissemination of the banking information on the system of the broker. When you provide your banking details, the company has to match those details with your personal details. There are certain restrictions and rules that you have to follow while giving out your banking info. For example, the name on your bank account should be the same as the name on your identification card.
If there is any difference, the company will not let you sign up due to the fear of money laundering. As for KYC, which stands for Know Your Customer, this particular policy is supposed to help online brokers collect ample information about you to know you as a unique person. When you sign up with Weltex, you will have to give out your identification number, card details, physical address information, and more. The information will also have to be submitted in the form of pictures to ensure you are the owner of the information. You might want to check the laws within your country about providing your personal details on the internet before you conduct any financial activities.
In addition to these two layers of security, you also have the 2FA authentication with this trading platform. This means every time you sign into your account, you will be required to go through 2 security barriers. For example, it might require you to enter a password and then confirm a code that is sent on your mobile phone. You can’t just sign in with your password because that’s weak security. Last but not least, the company monitors your trading account at all times and alerts you as soon as it detects anything unusual.
Trader-friendly Spreads and Leverages
Your trading experience is greatly defined by the type of leverages and spreads that you have to deal with. It is important for me to mention here that no matter which online platform you join, you will have to familiarize yourself with these concepts. The spread is the way for a broker to charge you for its services. It is charged in the form of a small amount that is taken from you on the price of the asset. You should be happy for the fact that this firm will only charge you spreads on your trades, and even these spreads are quite tight. Let me tell you, the spreads start from 0.1 pips.
It will be tough for you to find a company that offers you spreads that are lower than that. In fact, they can’t be lower than that. However, keep in mind that this the starting point of the spreads. So, with different assets, they can be different as well. In addition to that, you have some great leverages from the broker that you can use when you trade. Leverages are written in ratio formats. If you look at the features of the trading accounts from the company, you will notice that the leverage for the first three accounts is set at 1:200. Spend a dollar on a trade and your trading firm will bring in $200 for that one dollar from you.
This is how leverages work but you have to be careful with them because they can increase your profits and losses just the same. Furthermore, you will notice that with the Solo VIP trading account, your leverage can be even higher at 1:300. The biggest leverages are available to traders who pick the Weltex account. The leverages for these traders are as high as 1:400.
Convenient Account Types and Signup Requirements
Can you start your trading account with Weltex with convenience? Does the company make any effort to make the process easy for you so you can start right away? Yes, I can say yes easily because the process is pretty clear. If you want me to explain the process to you then you just have to pick an account, make a deposit, learn trading, and enter the trades. Of course, each account has a minimal deposit amount associated with it, which is the amount you must deposit to activate that account. So, if you look at the basic account, the Solo Standard account on the list, your initial deposit is $10,000.
The initial deposit amount increases as you go higher on the list of trading account types. However, that’s all you have to have in order to start a trading account. There is no other security deposit or money that you have to spend to start your trading career. If you look closely, these accounts have been created for different types of traders. The Solo Standard is for you if you are just starting out. The Solo Gold and Solo Diamond accounts are for those who have been trading for a couple of years or more. For professionals who are at the peak of their trading careers, they can go with either Solo VIP or Weltex account.
Portable, Compatible, and Easy Trading Platform
These are three of the most important qualities that you should be looking for in a trading platform. I am glad to inform you that the trading platform rom Weltex meets all of these requirements. Firstly, you have this platform in the form of a web-based application. This means you will not be downloading it on your computer, tablets, or smartphones. You will access the platform from your browser, which is easily available on any device and operating system. This allows you to use the platform and trade from any corner of the world at any time of the day or night you want.
In terms of compatibility, I am sure you have encountered the many operating systems that we use these days. You have Windows, Android, iOS, Macintosh, etc. All of these operating systems are working on different devices. The best thing is that you can use the platform from the firm on any of these operating systems. Lastly, the platform is known for being easy and having a very trader-friendly and intuitive interface. As a result, you should be able to know your way around on this platform within the first few minutes.
You have to pay many different types of commissions when you trade with any online company. Weltex is no exception and there are going to be some commissions for you to pay. What I like about this company is that its commissions are very clearly mentioned. You can get in touch with the company by sending an email to know the commissions. Now, the type of account you pick can get you a discount on the commissions. The Solo Gold account offers you a discount of 25% on your commissions. Go with the Weltex account and you will have 75% discount on all your commissions.
Online trading platforms should not be some basic software tools for trading. They should be the ones that define your trading experience and I think Weltex understands that concept really well. Its trading platform is a complete experience etched with great trading features, small commissions, tight spreads, big leverages, and some security features that its competitors still don’t offer.