Compare NordFX vs Weltrade
What is NordFX? What is Weltrade?
NordFX is an offshore CFD broker established in 2008. It offers trading on forex, stocks, commodities, indices and cryptocurrencies with leverage up to 1:1000. It uses the MetaTrader 4 platform and provides extra features such as copy trading, market analysis and educational resources.
Weltrade is an online forex and CFD broker founded in 2006. It provides trading on over 50 currency pairs, metals, oil, indices and cryptocurrencies with leverage up to 1:1000. It supports the MetaTrader 4 and 5 platforms and offers additional services such as social trading, VPS hosting and market news
NordFX vs Weltrade Regulation Comparison
| Broker | Regulator | License Number | Client Protection |
|---|---|---|---|
| NordFX | VFSC | 15008 | No compensation scheme |
| Weltrade | IFSC | IFSC/60/350/TS/19-20 | No compensation scheme |
NordFX vs Weltrade Trading Assets Comparison
| Broker | Forex Pairs | Stocks | Indices | Cryptocurrencies |
|---|---|---|---|---|
| NordFX | 33 | 68 | 4 | 13 |
| Weltrade | Over 50 | Over 100 | Over 10 | Over 40 |
NordFX vs Weltrade Trading Fees Comparison
| Broker | Account Type | Spreads | Commissions |
|---|---|---|---|
| NordFX | Fix | From 2 pips (fixed) | None |
| NordFX | Pro | From 0.9 pips (variable) | None |
| NordFX | Zero | From zero pips (variable) | $3.5 per lot per side |
| Weltrade | Micro | From 3 pips (fixed) | None |
| Weltrade | Premium | From 1 pip (variable) | None |
| Weltrade | Pro | From zero pips (variable) | $8 per lot round turn |
| Weltrade | ZuluTrade | From zero pips (variable) | $10 per lot round turn |
| Weltrade | Crypto | From zero pips (variable) | $15 per lot round turn |
NordFX vs Weltrade Account Types Comparison
NordFX has a minimum deposit requirement of $10 for the Fix account, $250 for the Pro account and $500 for the Zero account. Weltrade has a minimum deposit requirement of $25 for the Micro account, $200 for the Premium account, $500 for the Pro account, $100 for the ZuluTrade account and $50 for the Crypto account.
Both brokers offer demo accounts for practice trading and Islamic accounts for swap-free trading. NordFX also offers a copy trading account that allows traders to follow the signals of experienced investors for a fee starting from 10% of the profits. Weltrade also offers a social trading account that enables traders to copy the trades of other users for free.
NordFX vs Weltrade Deposit Options Comparison
NordFX and Weltrade both support a variety of payment methods for depositing and withdrawing funds. These include credit/debit cards, bank wire transfers, e-wallets and cryptocurrencies. Both brokers do not charge any fees for deposits or withdrawals, except for bank wire transfers which may incur fees from the banks involved.
NordFX vs Weltrade Trading Platforms Comparison
NordFX and Weltrade both use the MetaTrader 4 platform as their main trading platform. MT4 is a popular and user-friendly platform that offers advanced charting tools, technical indicators, automated trading with Expert Advisors (EAs), market news and signals service. MT4 is available as a desktop application, a web-based platform and a mobile app for iOS and Android devices .
Weltrade also offers the MetaTrader 5 platform as an alternative option. MT5 is an upgraded version of MT4 that has more features such as more timeframes, more order types, more technical indicators, an economic calendar and a built-in market of trading robots and indicators. MT5 is also available as a desktop application, a web-based platform and a mobile app for iOS and Android devices.
NordFX vs Weltrade Analytical Tools Comparison
NordFX and Weltrade both provide some analytical tools to help traders with their market research and decision making. These include:
- Market analysis: Both brokers offer regular market analysis reports on their websites and blogs, covering the latest trends and developments in the forex and CFD markets. The reports include technical and fundamental analysis, forecasts and trading ideas .
- Economic calendar: Both brokers offer an economic calendar on their websites and platforms, showing the upcoming economic events and indicators that may affect the market movements. The calendar includes the date, time, country, currency, impact level and expected value of each event .
- Trading calculator: Both brokers offer a trading calculator on their websites, allowing traders to calculate the margin, profit/loss, swap and pip value of their trades based on their account type, instrument, lot size and leverage .
- VPS service: Both brokers offer a virtual private server (VPS) service for traders who want to run their EAs or copy trading signals without interruptions from power outages or internet connection issues. The VPS service is free for traders who meet certain trading volume requirements or pay a monthly fee otherwise .
NordFX vs Weltrade. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer as to which forex broker is better or which one you should choose, as different brokers may suit different traders depending on preference, their goals and strategies. However, here are some probable factors that you can consider when making your decision:
- Regulation: Both brokers are regulated by offshore authorities that offer low levels of protection and oversight. If you are looking for a more secure and reputable broker, you may want to look for one that is regulated by a well-known regulator such as the FCA, ASIC or CySEC.
- Trading assets: Weltrade offers a wider range of trading assets than NordFX, especially in terms of stocks and cryptocurrencies. If you are interested in trading a variety of markets, you may prefer Weltrade over NordFX.
- Trading fees: NordFX and Weltrade have different fee structures depending on the account type. NordFX has lower spreads and commissions on its Zero account, which requires a minimum deposit of $500. Weltrade has higher spreads and commissions on its Pro and ZuluTrade accounts, which require a minimum deposit of $500 and $100 respectively. If you are looking for low-cost trading, you may prefer NordFX over Weltrade, especially if you can afford the higher minimum deposit.
- Trading platforms: Both brokers use the MetaTrader 4 platform, which is a popular and user-friendly platform that offers many features and tools. Weltrade also offers the MetaTrader 5 platform, which is an upgraded version of MT4 that has more features and capabilities. If you are looking for a more advanced and versatile platform, you may prefer Weltrade over NordFX.
- Analytical tools: Both brokers provide some analytical tools such as market analysis, economic calendar, trading calculator and VPS service. These tools can help you with your market research and decision making. There is not much difference between the brokers in this aspect, so you may choose either one based on your personal preference.
Ultimately, the choice of broker depends on your individual needs and preferences. You may want to test both brokers with their demo accounts before opening a live account with real money. You may also want to compare other brokers that offer similar or better services and features.
