WelTrade.com Review: Scam Asian Broker?

WelTrade is a corny website pretending to provide legitimate trading in financial instruments. The website Weltrade.com is a rebranded version of SystemForex.org, which was the name of this broker in 2006. Due to the high risk of losing money to this broker, we warn traders and investors not to create or deposit any money on this broker’s platform.

Obviously good trading must start somewhere. If you want to go the long way, you must put in the work and commit time. But if you want the easy way, you must invest in trading signals, systems or investment programs that help with making profits from the markets.

If you have lost money as a result of trusting Weltrade or using another investment platform that ended up stealing your funds and locking you from the website, kindly go to the live chat on this website and ask for a chargeback. Most people lose huge sums of money on the internet but because they don’t know about chargebacks, so they end up in financial depression.

WelTrade Review

Weltrade is a regular ‘Forex broker’ with MT4 and MT5 trading software integrated into the website appropriately.

Since they are a regular broker, you must expect them to try and persuade clients using fishy marketing strategies like telling them about awards that are actually fake and also lying to them that new Weltrade customers will receive gifts and bonuses.

In addition to this, Weltrade is also providing a platform that helps ‘traders’ build and test trading strategies.

But when you look at the account types offered by this broker, you will see that this is one hell of a joke as the minimum deposit is $1 and leverage is 1:1000.

A serious broker would need a significant minimum because under-funding is definitely one of the many reasons that traders wanting to earn a living fail instead of actually making money.

Who are the people behind Weltrade Forex broker?

Their website states that Weltrade is operated by a company called Systemgates Ltd. Systemgates Ltd is a St Vincent and the Grenadines company and does not regulate Forex brokers.

Unfortunately, Weltrade claims that apart from overseeing the activities of Weltrade as a whole, they also regulate the broker.

The word ‘regulate’ is actually used in the wrong context here since there can only be financial regulation in the Forex brokerage business.

Anyone using the word ‘regulate’ in this form is actually trying to evade the big question of whether or not a government is overseeing their financial services.

And you can also see that Weltrade is not offering its services to residents of the US and Canada simply because financial regulation in the country is very tight and scams don’t have a leeway.

How to recover your money from Weltrade

I have included a special chargeback form in this review so that you can use it to raise your case with agencies that can help you recover your lost funds.

If you are comfortable with live chat, then you can also use it to raise your case and by doing so you can actually qualify for chargeback and get your funds back from the scammers in no time.

The Conclusion

Weltrade is actually not different from established scams like Swissunions (which uses manipulative ways to silence victims).

If not careful, these kinds of websites can just take your money and disappear with it. Unless you know about the possibility of a chargeback, you may end up in financial depression.