Heard of WellsTrader.com trading platform? Really want to find more details before choosing this broker? You can carefully read the WellsTrader reviews to know about this forex broker whether to use or not.
This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About WellsTrader
WellsTrader otherwise known as WellsTrader.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Additionally, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
WellsTrader Regulation
First of, WellsTrader presents its address in Switzerland and claims to be a reputable Swiss broker. A check on the Swiss Financial Market Supervisory Authority (FINMA) database confirms that there is no licensed broker using the WellsTrader trade name and domain.
Another leading financial regulator, the Comisión Nacional del Mercado de Valores (CNMV) in Spain, explicitly warns that WellsTrader is a scam.
It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
WellsTrader Minimum Deposit
As for WellsTrader minimum deposit, enforces a minimum deposit of $500. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
WellsTrader accepts various deposit methods, including Credit cards/Debit cards, Bank transfers, and e-wallets.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
WellsTrader Trading Software
WellsTrader offers access to a fairly basic web-based trading platform. The broker’s web trader comes with some basic tools and custom indicators but nothing more advanced.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
WellsTrader Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that WellsTrader.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Conclusion:
WellsTrader.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Please share with us your experience in the comment section below. Thank you!
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