Compare Weltrade vs SimpleFX
What is Weltrade? What is SimpleFX?
Weltrade is an international company that has 16 years of experience in the FX market and online trading. It offers various trading instruments, such as forex, metals, indices, stocks, and cryptocurrencies. It also provides innovative tools for traders, such as bonuses, affiliate programs, and gold rewards.
SimpleFX is a free trading and investing app that allows users to trade and stake with no fees and no minimum deposits. It supports a wide range of assets, such as cryptocurrencies, forex, stocks, gold, and oil. It also features a social trading platform where users can share their trading ideas and earn revenue share.
Weltrade vs SimpleFX Regulation Comparison
Weltrade is regulated by the Financial Services Commission Authority (FSCA) of South Africa. It claims to prioritize the safety and security of its clients’ funds and to provide transparent and honest services.
SimpleFX is not regulated by any official authority. It operates under the jurisdiction of Saint Vincent and the Grenadines, a Caribbean island nation that does not have strict financial regulations. It states that it uses advanced encryption and security protocols to protect its users’ data and funds.
Weltrade vs SimpleFX Trading Assets Comparison
Weltrade offers over 50 currency pairs, 6 metals, 11 indices, 34 stocks, and 10 cryptocurrencies for trading. It also allows users to trade CFDs (contracts for difference) on these assets.
SimpleFX offers over 60 currency pairs, 4 metals, 15 indices, 50 stocks, and 15 cryptocurrencies for trading. It also supports CFDs trading on these assets.
Weltrade vs SimpleFX Trading Fees Comparison
Weltrade charges different types of fees depending on the account type and the trading instrument. It has variable spreads, commissions, swaps, and overnight fees. It also has a dormant account fee of $10 per month after six months of inactivity.
SimpleFX does not charge any fees for trading or staking. It has fixed spreads and no commissions or swaps. It also does not have a dormant account fee or any other hidden charges.
Weltrade vs SimpleFX Account Types Comparison
Weltrade offers six types of accounts: Micro, Premium, Pro, ZuluTrade, Crypto, and PAMM. Each account has different features, such as minimum deposit, leverage, lot size, execution type, and margin call level. Users can also open a demo account to practice trading with virtual money.
SimpleFX offers only one type of account: Standard. It has no minimum deposit requirement, up to 500x leverage, variable lot size, market execution type, and 30% margin call level. Users can also open a demo account to practice trading with virtual money.
Weltrade vs SimpleFX Deposit Options Comparison
Weltrade supports more than 30 deposit and withdrawal methods, such as wire transfer, credit card, e-wallets, cryptocurrencies, and local payment systems. It does not charge any fees for deposits or withdrawals. However, it may take up to three business days for the funds to be processed.
SimpleFX supports over 20 deposit and withdrawal methods, such as wire transfer, credit card, e-wallets, cryptocurrencies, and local payment systems. It does not charge any fees for deposits or withdrawals. Moreover, it claims to offer instant withdrawals for most of the methods.
Weltrade vs SimpleFX Trading Platforms Comparison
Weltrade offers two trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These are popular and powerful platforms that provide various tools and features for traders, such as charts, indicators, robots, signals, orders, news feed, etc. . Users can access these platforms via desktop, web browser, or mobile app.
SimpleFX offers its own proprietary platform: SimpleFX WebTrader. This is a user-friendly and intuitive platform that allows users to trade and stake easily from anywhere. It also has some tools and features for traders, such as charts, indicators, orders, news feed, etc. Users can access this platform via web browser or mobile app.
Weltrade vs SimpleFX Analytical Tools Comparison
Weltrade provides some analytical tools for traders on its website, such as economic calendar, market news, trading signals, trading calculator, and trading contests. It also has a blog where it posts market analysis, tutorials, and tips.
SimpleFX provides some analytical tools for traders on its social trading platform, such as trading ideas, news TV, live view, and leaderboards. It also has a blog where it posts market news, analysis, and tutorials.
Weltrade vs SimpleFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading preferences, goals, and risk appetite. There is no definitive answer to which forex broker is better, as each one has its own advantages and disadvantages. Ultimately, the best way to decide which broker is more suitable for you is to test them out by opening a demo account or a real account with a small deposit and testing their service and performance. You can also read online reviews and feedback from other traders who have used these brokers before.
