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WeTrade group includes 2 related companies.
WeTrade MY - located in Malaysia, regulated by the Labuan Financial Services Authority (LFSA).
WeTrade SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
WeTrade group accepts clients from all over the world, excluding USA, Canada, Haiti, Iran, Suriname, North Korea, Puerto Rico, Syria, Cuba.
Forex broker offers the following underlying assets for trading.
| 35+ Currency Pairs | Based on major and minor world currencies. |
| 10 Crypto Pairs | Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, Ripple, Cardano, Binance Coin, Dogecoin, Solana. |
| 10 Indice CFDs | Based on baskets of different blue-chip stocks. |
| 2 Metal CFDs | Based on Gold and Silver. |
| 3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 50+ Stock CFDs | Based on shares of US and HK companies. |
WeTrade is a forex broker registered offshore in Saint Vincent and the Grenadines and in the Malaysian offshore jurisdiction known as Labuan. The broker offers ultra-high trading leverage of up to 1:2,000, and trading on the classic MetaTrader 4 (MT4) platform. WeTrade was founded in the UK in 2015, entered the Chinese market in 2016, and today has a strong presence in Asia in general, including in Japan and South East Asia.
One aspect that stands out about WeTrade is its focus on trader education. The broker's website includes an extensive “learn to trade” section with articles covering candlestick patterns, video tutorials covering topics like leverage & margin and stop-loss & take profit orders, as well as a useful dictionary of trading terminology.
Another thing to note about WeTrade is that this broker mainly relies on crypto in the form of Tether (USDT) for deposits and withdrawals. It makes clear on its website that Tether is its preferred payment method, with no handling fees and near-instant processing of payments. For those who don't wish to use crypto, however, international and local bank transfers are also accepted.
The trading instruments that WeTrade offers include a selection of around 50 stocks listed in the US and Hong Kong, major stock indices, more than 35 forex pairs, 10 large-cap cryptocurrencies, as well as the most commonly traded commodities. All of these assets are offered as contracts-for-difference (CFD), which is a common type of derivative that makes both long and short trading with high leverage extremely easy.
The instruments are all traded on MetaTrader 4 (MT4), a popular trading platform first released to the public in 2005. Today, the platform exists in downloadable versions for Mac and Windows computers, as well as in a web-based version, and as mobile apps for Apple and Android phones.
At the time of this review, WeTrade offers three different account types, each with its own pros and cons depending on a trader's needs:
– STP Account, with a minimum deposit of $100, spreads from 1.8 pips and no commissions
– Standard Account, with a minimum deposit of $100, spreads from 1 pip and no commissions
– ECN Account, with a minimum deposit of $1,000, spreads from 0 pips and commissions of $7 per lot
All accounts are denominated in USD and offer access to the full range of tradable assets.
For any issues that require assistance from customer support, WeTrade clients can reach out via live chat or email. Unfortunately, the broker has not provided any phone number that its clients can use. There is also no information about the support team's working hours, which usually means that 24 hour support is not available.
In conclusion, we believe WeTrade has what it takes to be a broker that at least should be considered among traders in China, Japan and South East Asia. With its good selection of tradable assets, high trading leverage, and easy deposit and withdrawals via crypto, WeTrade is a forex broker that offers most of the things the average trader is looking for. For the broker to improve even more, however, more options for reaching customer service, as well as support for multiple trading platforms would be needed.
