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Influence index NO.1
Influence index NO.1
WeTrade International Limited
Pyramid scheme complaint
It’s normal on other platforms.
If the account is frozen, do I need to deposit funds to unfreeze it? After all the money has been deposited, they all ran away and can’t be contacted. These are the chat records of the platform.
I met a man on the Internet who encouraged me to change platform. I deposited 5,000 US dollars, and after operation reached 8,000 yuan, I lost 6,000 yuan. When I reached 6,000 yuan, I lost 700 yuan a day. When I got back, I lost more than 700 yuan. Before saying that the agent helped me pay 4280 yuan. After that, I couldn’t contact anyone and they didn’t reply. Finally, I left a message in chat group, and he replied. Told me where the money came from and block me. My account number in Zhonghui is 7210919.
When you make a deposit, the platform will tell you that you need to upgrade to a Gold VIP, and you can withdraw normally. When you have paid, you can withdraw it again. The platform will tell you that you need to activate and then say that you need to pay taxes where you are. If you don’t pay, you can’t withdraw the money and you will keep saying a word to you. Please pay within a fixed time, otherwise the account will become unmanaged. At that time, you need to pay a deposit to reflect it! When I finished paying everything, I estimated that there were 50,000 Canadian dollars, and I thought I could finally withdraw cash. The platform gave me another reason to say that my account has been identified by Asia Pacific Anti-Money Laundering and I am a suspect of money laundering. I have to pay a 30% deposit of the principal to confirm that I have no relationship with the money. No matter what you do, this money has never been paid out. This money comes and goes. I invested about 200,000 Canadian dollars!
I have deposited 250 dollars on 8-september 2022 but not credited yet to my trading account. Zero support from customer care.. seems it's a fraud broker.
When you open an account from the fraudulent platform Poipex, the account opening platform of WeTrade pops out. When you look at the license application of the two companies, you will understand.
I CANNOT WITHDRAW MY MONEY I FOUND IN A VIDEO PUBLISHED IN MICROSOFT NEWS A FAMOUS MAN EARNING A LOT OF MONEY AND I DECIDE TO REGISTER AT THE BEGINNING I INCOME ABOUT 250 EUROS AND LATER ABOUT 1000 MORE ALWAYS HARASSING ME IN CALLS SO THAT I ENTER MORE MONEY I DECIDE TO WITHDRAW AND IT IS IMPOSSIBLE TELLS ME IF I WANT TO WITHDRAW I HAVE TO MAKE A TRANSFER TO THEM IN THE CONCEPT OF INTEREST AND COMMISSIONS OF ABOUT 3,500 EUROS. DOING A LITTLE RESEARCH THERE ARE MORE PEOPLE THE SAME AND IT IS A SCAM AND I DON'T DO IT AND ON SOME OCCASIONS THEY MAKE WITHDRAWAL OF MY BANK CARDS. I DECIDE TO REPORT THE CASE. AND MY BANK CANNOT GIVE ME A REFUND OF MY TRANSFERS BECAUSE ACCORDING TO THEM I DID IT ON MY OWN ACCOUNT AND NOBODY FORCED ME TO DO IT
Stop Out Symbol Distribution
Note: WeTrades official site - https://www.wetradefx.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
|Registered Country/Region||United Kingdom|
|Market Instrument||forex, indices, energies, precious metals|
|Account Type||STP, VIP, ECN and Affiliate|
|Spread||Vary on the account type|
|Commission||Vary on the account type|
|Deposit & Withdrawal Method||USDT, bank wire transfers|
WeTrade, a trading name of WeTrade International Limited, is a forex broker founded in 2015 and based in London, UK.
As for regulation, WeTrade holds a revoked (United Kingdom) Financial Conduct Authority license and an offshore regulated (Saint Vincent and the Grenadines) Financial Services Authority license. That is why its regulatory status on WikiFX is listed as “Offshore Regulatory” and receives a relatively low score of 4.48/10. Please be aware of the risk.
Note: The screenshot date is February 3, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
The company offers a wide range of trading products, including forex, indices, energies, precious metals, four trading categories in total, and more than 60 kinds of trading products.
WeTrade has set up four types of accounts for investors with various investment needs and strategies, including the STP (minimum deposit of $100), VIP (minimum deposit of $1000), ECN (minimum deposit of $3000), and Affiliate accounts (minimum deposit of $100).
When it comes to trading leverage, the maximum leverage is up to 1:1000 for Forex trading, which sounds incredibly high. Inexperienced traders are advised not to use such high trading leverage in case of fund losses.
Spreads vary depending on the different account types chosen. The minimum spread for the STP account is 1.8 pips for EUR/USD, with no trading commission. The minimum spread for the VIP account is 1.0 pips for EURUSD, with no trading commission. The minimum spread for the ECN account is 0, charging a commission of 7 USD per lot. The minimum spread for the Affiliate account is 2.3 pips for EURUSD, requiring no trading commission.
WeTrade offers its clients the advanced and popular MT4 trading platform, MAM and Multi-Account Management Tool (MAM). MT4 comes with robust charting and data analysis functions, available for PC, iOS, and Android versions. The MAM and multi-account management tools are two types of multi-account management systems that allow traders to trade for multiple accounts simultaneously.
Deposit & Withdrawal
Deposit methods support USDT, wire transfer, no commission for USDT deposit, support any bank, and instant payment. For wire transfers, the bank will charge a fee, and the time of arrival is subject to the bank. Withdrawal methods are CUP and wire transfer. The bank will charge a fee for wire transfers, and the time of arrival will be determined by the bank.
The WeTrade customer support team can be contacted through email: email@example.com, firstname.lastname@example.org, email@example.com. You can also follow this broker on social networks such as WeChat: wolovewetrade, Facebook, and YouTube.
Pros & Cons
|• Wide range of trading assets and account types||• No regulation|
|• MT4 supported||• Website inaccessible|
|• Limited funding options|
Frequently Asked Questions (FAQs)
|Q 1:||Is WeTrade regulated？|
|A 1:||No. WeTrade holds a revoked (United Kingdom) Financial Conduct Authority license and an offshore regulated (Saint Vincent and the Grenadines) Financial Services Authority license.|
|Q 2:||Does WeTrade offer the industry-standard MT4 & MT5？|
|A 2:||Yes. WeTrade supports MT4.|
|Q 3:||What is the minimum deposit for WeTrade？|
|A 3:||The minimum initial deposit to open an account is $100.|
|Q 4:||Is WeTrade a good broker for beginners？|
|A 4:||No. WeTrade is not a good choice for beginners. Though it advertises very well, it lacks legitimate regulations.|
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