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<p>Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.</p>
In the fast-paced world of forex trading, choosing the right broker is crucial. FBS and Weltrade are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between FBS and Weltrade across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated FBS and Weltrade, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, FBS earned a higher trust rating than Weltrade.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that FBS has overall lower trading costs than Weltrade.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both FBS and Weltrade offer copy trading.
A broader range of CFD instruments provides more trading opportunities. FBS offers a greater variety of instruments compared to Weltrade:
For those interested in trading cryptocurrencies, Weltrade offers 15 cryptocurrencies, while FBS offers 5 cryptocurrencies. Therefore, Weltrade is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that Weltrade charges a withdrawal fee and FBS does not. Overall, FBS has better deposit and withdrawal processes than Weltrade.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
FBS has better educational support than Weltrade. Both FBS and Weltrade offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that FBS offers better research analysis than Weltrade and that both FBS and Weltrade offer frequent webinars.
FBS is an ASIC-regulated international broker offering a safe and transparent trading environment for Australian traders. With a choice of three live accounts—Cent, Standard, and Ultra—each with a low minimum deposit of just 50 AUD, FBS caters to both beginners and more experienced traders. All accounts are available on the advanced MetaTrader 5 platform or the user-friendly FBS Trader mobile app, with leverage capped at 1:30 in line with ASIC regulations.
While FBS offers competitive spreads and simple account options, its product range is more limited than some competitors. Nevertheless, the broker provides strong support for newer traders, with 24/7 customer service, clear educational materials, and regular market analysis to assist in trading decisions.
For beginner traders who want low minimum deposits and prefer to trade in smaller trade sizes, Weltrade may be a tempting option. However, ongoing trading costs are higher than most other brokers, and Weltrade is not regulated, so trading security and safety cannot be verified.
An STP broker, Weltrade offers trading on a small range of tradable instruments, including 37 forex pairs, 2 commodities, 4 metals, and 15 cryptocurrencies, which is severely limited compared to other brokers.
Weltrade offers five live accounts and an unlimited demo account. Although the minimum deposit on its entry-level account is low at 25 USD, trading costs are high, with spreads averaging at 1.5 pips on the EUR/USD. Spreads tighten to 0.5 pips on the Pro Account, but this is in exchange for a minimum deposit requirement of 500 USD. Additionally, the trading costs on its Zulutrade Account are exorbitantly high.
Weltrade offers full support for MetaTrader4 and its successor, MetaTrader 5, but offers virtually no trading tools. It also lacks educational and market analysis materials, forcing traders to self-educate elsewhere.
For more detailed reviews, please read our comprehensive assessments of FBS and Weltrade.
Select another broker to another broker to compare features, fees, and platforms side by side.
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
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