WELTEX-Overview of Minimum Deposit, Leverage, Spreads

General Information

Founded in 2021, WELTEX is a Poland-based forex broker, allegedly offering its clients access to more than 100 trading instruments, such as commodities, indices, forex and shares, with spreads as low as 0.1 pips, leverage up to 1:400.

When it comes to regulatory information, WELTEX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.20/10. Please be aware of the risk.

Market Instruments

WELTEX offers its clients access to a bulk of more than 100 trading instruments across five classes, including Foreign Exchange, Indices, Commodities, Shares.

Account Types

WELTEX offers a total of five tiered trading accounts to suit different traders trading needs, namely Standard, Bronze, Silver, Gold, VIP and Pro. These six trading accounts are categorized by the minimum deposit requirements, which are absurdly high compared with many other forex brokers, ranging from $10,000 to $1,000,000.

Some account services offered include Daily News, Trading Academy, Weekly Market News, Account Manager, Weekly Portfolio Progress Report and more.

Leverage

With WELTEX, traders can get access to a high leverage amount of 1:400, which is not necessarily a good thing. Leverage may increase your profits on one hand, but it can also cause severe fund losses.

Inexperienced traders are not advised to use excessive trading platform, thats why many regulatory authorities lower the maximum leverage for forex trading to 1:30 in European and other countries.

Spreads Offered

WELTEX says it offers competitive spreads as low as 0.1 pips, but it does not specify spreads on any particular instrument.

Trading Platform

What WELTEX offers is not the industry-leading MT4 or MT5 trading platform, a Webtrader instead.

Deposit & Withdrawal

WELTEX is vague on how deposits and withdrawals work. Wire transfer, MasterCard, VISA, Maestro, and a slew of e-wallet processors like Skrill, Neteller, PayPal, and others are some of the most prevalent and popular payment alternatives handled by most forex brokers. The speed at which funds can be taken from a forex broker is one of the most crucial factors in establishing the broker's credibility.

Customer Support

WELTEXs email and phone support service are available to traders with inquiries or problems related to trading. Contact details are listed below:

Telephone:

+4851 801 83 73

+48576571248

Email: support@weltex.co

A Contact Form

Company Address: UL Wal Miedzeszynski nr 551A, Warszawa, Poland

Risk Warning

Online trading in leveraged Forex and CFD instruments contains a high level of risk and may not be suitable for all investors.

Please note that the information contained in this article is for general information purposes only.