Compare Weltrade vs LMFX
What is Weltrade? What is LMFX?
Weltrade is an international online broker that was founded in 2006 and has more than 16 years of experience in the forex market. Weltrade offers over 250 financial instruments, including forex, metals, indices, commodities, stocks, and cryptocurrencies. Weltrade is regulated by the Financial Services Authority of Saint Vincent and the Grenadines (FSA) .
LMFX is a global online broker that was established in 2015 and provides access to over 150 financial instruments, including forex, metals, indices, commodities, stocks, and cryptocurrencies. LMFX is not regulated by any official authority .
Weltrade vs LMFX Regulation Comparison
Weltrade is regulated by the FSA of Saint Vincent and the Grenadines, which is a reputable offshore regulator that oversees the activities of financial services providers in the country. Weltrade also claims to have a license from the Financial Sector Conduct Authority (FSCA) of South Africa , but this could not be verified on the FSCA website .
LMFX is not regulated by any official authority, which means that it operates without any oversight or supervision from a third-party entity. This poses a higher risk for traders, as there is no guarantee that LMFX will comply with fair and ethical business practices or protect client funds in case of insolvency or fraud.
Weltrade vs LMFX Trading Assets Comparison
Weltrade offers over 250 financial instruments, including 50 forex pairs, 4 metals, 11 indices, 4 commodities, 180 stocks, and 9 cryptocurrencies . Weltrade also offers digital accounts that allow traders to trade cryptocurrencies with leverage up to 1:25 .
LMFX offers over 150 financial instruments, including 48 forex pairs, 4 metals, 11 indices, 4 commodities, 81 stocks, and 5 cryptocurrencies . LMFX does not offer digital accounts or any special features for cryptocurrency trading.
Weltrade vs LMFX Trading Fees Comparison
Weltrade offers six account types: Micro ($10 minimum deposit), Premium ($200 minimum deposit), Pro ($500 minimum deposit), ZuluTrade ($200 minimum deposit), Crypto ($50 minimum deposit), and PAMM ($200 minimum deposit) . Weltrade does not charge any commissions on any account type, but spreads vary depending on the account type and market conditions. The average spread for EUR/USD is 0.5 pips on the Pro account . Weltrade also charges swap fees for holding positions overnight .
LMFX offers three account types: Premium ($50 minimum deposit), Fixed ($250 minimum deposit), and Zero ($100 minimum deposit) . LMFX does not charge any commissions on the Premium and Fixed accounts, but spreads are higher than on the Zero account. The average spread for EUR/USD is 1.2 pips on the Premium account . LMFX charges commissions of $8 per lot round turn on the Zero account , but spreads are lower than on the other account types. The average spread for EUR/USD is 0.2 pips on the Zero account . LMFX also charges swap fees for holding positions overnight .
Weltrade vs LMFX Account Types Comparison
Weltrade offers six account types: Micro ($10 minimum deposit), Premium ($200 minimum deposit), Pro ($500 minimum deposit), ZuluTrade ($200 minimum deposit), Crypto ($50 minimum deposit), and PAMM ($200 minimum deposit) . All account types offer leverage up to 1:1000, except for the Crypto account, which offers leverage up to 1:25 . All account types also offer access to the MetaTrader 4 and MetaTrader 5 trading platforms, as well as the web terminal and mobile apps . Weltrade also offers a 100% credit bonus on the first deposit and a 15% recovery bonus on subsequent deposits . Weltrade also has a partnership program that allows traders to earn commissions for referring new clients .
LMFX offers three account types: Premium ($50 minimum deposit), Fixed ($250 minimum deposit), and Zero ($100 minimum deposit). All account types offer leverage up to 1:1000 and access to the MetaTrader 4 trading platform, as well as the web terminal and mobile apps . LMFX also offers a 100% credit bonus on the first deposit and a 15% recovery bonus on subsequent deposits . LMFX also has a partnership program that allows traders to earn commissions for referring new clients .
Weltrade vs LMFX Deposit Options Comparison
- Weltrade offers more deposit and withdrawal methods than LMFX, including wire transfer, credit/debit cards, e-wallets, cryptocurrencies, and local payment systems .
- Weltrade does not charge any fees for deposits or withdrawals, except for wire transfer, which has a fee of $30 . Most deposits and withdrawals are processed within 30 minutes or less .
- The minimum deposit and withdrawal amount for Weltrade is $10 for most methods, except for wire transfer, which has a minimum of $100 . The maximum deposit and withdrawal amount for Weltrade varies depending on the method, but it is usually $10,000 or more .
- LMFX offers fewer deposit and withdrawal methods than Weltrade, including wire transfer, credit/debit cards, e-wallets, cryptocurrencies, and vouchers .
- LMFX does not charge any fees for deposits or withdrawals, but some payment providers may charge their own fees . Most deposits and withdrawals are processed within 24 hours or less .
- The minimum deposit and withdrawal amount for LMFX is $10 for most methods, except for wire transfer, which has a minimum of $250 . The maximum deposit and withdrawal amount for LMFX varies depending on the method, but it is usually $10,000 or more .
Weltrade vs LMFX Trading Platforms Comparison
- Weltrade offers two main trading platforms: MetaTrader 4 and MetaTrader 5. Both platforms are widely used and trusted by traders around the world. They offer advanced charting tools, technical indicators, trading robots, market news and analysis, and various order types. Weltrade also offers a web terminal and mobile apps for iOS and Android devices that enable traders to trade on the go from their smartphones or tablets.
- LMFX only offers one main trading platform: MetaTrader 4. This platform is also widely used and trusted by traders around the world. It offers similar features as Weltrade’s MetaTrader 4 platform. However, LMFX does not offer MetaTrader 5 or any other alternative trading platforms. This may limit the options and preferences of some traders who want to use the latest technology and innovations in the forex market. LMFX also offers a web terminal and mobile apps for iOS and Android devices, but they are not as advanced or user-friendly as Weltrade’s web terminal and mobile apps.
Weltrade vs LMFX Analytical Tools Comparison
- Weltrade offers a variety of analytical tools for traders, such as market news, economic calendar, trading signals, technical analysis, market sentiment, trading calculator, and trading contests. Weltrade also offers a social trading service called ZuluTrade, which allows traders to copy the trades of other successful traders or offer their own trades for others to follow. Weltrade also offers a PAMM service, which allows traders to invest in the accounts of professional managers or offer their own accounts for others to invest in.
- LMFX offers fewer analytical tools than Weltrade, such as market news, economic calendar, trading signals, technical analysis, and trading calculator. LMFX does not offer any social trading or PAMM services, which may limit the opportunities and benefits for some traders who want to learn from others or diversify their portfolio. LMFX also offers a few trading contests, such as the Crystal Ball Contest, the Phoenix Recovery Contest, and the Ultimate Traders Contest.
Weltrade vs LMFX. Which forex broker is better? Which forex broker should you choose?
The best forex broker for you depends on your personal preferences, trading style, goals and needs. You can do more research, read reviews, try a demo account or even open a live account with both brokers to see which broker meets your expectations and requirements.
