Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighClient accounts sit with Weltrade Ltd, an unlicensed Saint Lucia IBC, and regulators in Italy, Spain, Malaysia and India have named Weltrade sites; credited for the group's genuine but intermediary-only FSCA licence.
Identity & transparency
4/10 · ModerateEntities, numbers and addresses are published and the South African and Cypriot companies match official records, but the Saint Lucia company has no public registry entry, owners are not named and the counterparty moved from Saint Vincent to Saint Lucia in 2023.
Withdrawals & conduct
6/10 · HighA cross-platform pattern of withdrawals held for repeated address checks and profits cancelled for alleged bad-faith trading, with account numbers, offset by many fast-payout reports and replies to nearly all complaints.
Reputation
6/10 · HighMixed: about 1,700 Trustpilot reviews averaging 3.8 with a thin middle and some generic five-star posts, against 1.78 out of 5 on Forex Peace Army and repeated regulator warnings.
Website claims
7/10 · HighThe help centre calls Weltrade a regulated broker with an official Saint Lucia licence, which its own risk disclosure contradicts; the founding-year claim is supported by archived copies.
Operational history
6/10 · HighVerified trading since at least 2009 as SystemForex and since 2012 as Weltrade, though the company holding client money dates from 2023 and the payment agent from 2026.
Who they are
A quick desk file on the company behind the brand.
- Brand: Weltrade, launched as SystemForex and renamed Weltrade in March 2012.
- Legal entity: Weltrade Ltd, an International Business Company in Saint Lucia, No. 2023-00055, incorporated on 27 February 2023 according to its client agreement. It is the counterparty to every client account.
- Registered: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia; correspondence at Suite No. 2, Place Creole Building, Rodney Bay.
- Group companies: Weltrade SA (Pty) Ltd, South Africa (2019/334947/07), an introducing intermediary; Danoa Enterprises Ltd, Cyprus (HE 489250, registered 9 March 2026), the payment agent. Until 2023 the counterparty was Systemgates Ltd, Saint Vincent and the Grenadines (24513 IBC 2018).
- Website: weltrade.com, with regional sites including weltrade.name (Indonesian), weltrade.space (Chinese), weltrade.ph (Philippines) and weltrade.trade (Urdu).
- Only licence: an FSCA Category I intermediary authorisation, FSP 50691, held by Weltrade SA (Pty) Ltd. It does not cover Weltrade Ltd.
- Offers: CFDs on forex, stocks, indices, commodities and crypto, plus its own SyntX synthetic indices, on MT4 and MT5 from a 1 USD minimum deposit, with deposit bonuses.
- Not accepted: residents of the US, Canada, the UK, the EU, Russia, Belarus, India, Iran and North Korea. Malaysia is not excluded.
- Age claim: since 2006. Archived copies confirm the SystemForex business by 2009 and Weltrade on weltrade.com from 2012.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Saint Lucia (official licence from the relevant regulatory authority, as claimed on Weltrade's help centre)
Why we reached this verdict
How the evidence adds up.
We rate Weltrade a likely scam because regulators have repeatedly named its websites, the company that holds client money has no licence, and Weltrade tells clients the opposite. It is not a fake or cloned broker, which is why our confidence is medium.
- Regulator actions. Italy's CONSOB ordered internet providers to block www.weltrade.com in December 2020, naming its then operator Systemgates Ltd. Spain's CNMV warned against es.weltrade.com in December 2019. The Securities Commission Malaysia lists my.weltrade.com for unlicensed dealing in securities and derivatives, and the Reserve Bank of India's Alert List names www.weltrade.com.
- No licence where the money is. Your counterparty, Weltrade Ltd, is a Saint Lucia International Business Company. That is a company registration, not a licence, and Weltrade's risk disclosure admits clients get no regulatory protection or compensation scheme. The group's FSCA licence belongs to a South African introducer and does not reach Weltrade Ltd.
- A false regulatory claim. Weltrade's help centre answers yes to the question of whether it is a regulated broker and describes an official licence from a Saint Lucia authority. Its own legal documents contradict this.
- Selling where it has been warned. The Malay-language site at weltrade.com/my, with its own Malaysian Facebook page, still serves Malaysia, which is absent from Weltrade's restricted-countries list.
- A complaint pattern. Since July 2026 Trustpilot reviewers have described withdrawals cancelled while address checks are repeated and profits withheld after accusations of bad-faith trading, many with account and order numbers. Older Forex Peace Army reviews describe unpaid profits. Weltrade replies to almost every negative review, and many clients report fast payouts.
- How the figure is set. Our six scores average about 57%. We publish 70% because an official order blocking a broker's own website sets a floor of 70% under our method, and the 2019 and 2020 actions against weltrade.com carry over to the company that runs it today.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The CONSOB press release of 4 December 2020 lists Systemgates Ltd (website www.weltrade.com) among five sites it ordered Italian internet providers to block for offering financial services without authorisation.
E2The CNMV warnings search lists HTTPS://ES.WELTRADE.COM, WELTRADE, as an unauthorised entity, dated 2 December 2019.
E3The Securities Commission Malaysia Investor Alert List includes Weltrade, website https://my.weltrade.com, year 2022, for carrying out unlicensed capital market activities of dealing in securities and derivatives.
E4The Reserve Bank of India Alert List (edition updated 19 November 2025) includes entry 84, Weltrade, https://www.weltrade.com, among entities not authorised to deal in forex or run forex trading platforms for Indian residents. The same list also names several large brokers regulated elsewhere.
E5Weltrade's help centre says Weltrade operates under an official licence issued by the relevant regulatory authority in Saint Lucia, answers yes to whether it is a regulated broker, and calls it a licensed broker. Weltrade Ltd is an International Business Company, and its own risk disclosure says clients do not benefit from regulatory protections.
StrongWeltrade Help CenterE6The client agreement and risk disclosure name Weltrade Ltd, an International Business Company incorporated in Saint Lucia on 27 February 2023 (No. 2023-00055), as the counterparty, state that clients do not get the protections of a regulatory framework or compensation schemes, and warn that services may require licensing the company does not possess.
StrongWeltrade legal documentsE7The FSCA FAIS register lists FSP 50691 as WELTRADE SA (PTY) LTD, a private company with registration number 2019/334947/07 at 46 Fairmount Avenue, Johannesburg, approved in Category I for Intermediary Other services in shares and derivative instruments. Name and address match Weltrade's South African pages; the authorisation does not extend to Weltrade Ltd.
StrongFSCA FAIS registerE8Weltrade's South African pages say Weltrade SA (Pty) Ltd only introduces clients for a referral fee and does not act as counterparty, that the product supplier Weltrade Ltd is not regulated by the FSCA, and that the FAIS Ombud covers the intermediary only.
ModerateWeltrade South Africa siteE9The Malay-language site at weltrade.com/my uses the ms-MY locale and links a Malaysian Facebook page, and its restricted-countries list does not include Malaysia, despite the Securities Commission Malaysia alert.
ModerateWeltrade Malaysia siteE10Trustpilot's weltrade.com page shows 1,690 reviews scoring 3.8 (76% five-star, 9% one-star). One-star reviews from July to November 2026 describe withdrawals cancelled while address checks stall, profits withheld after accusations of bad-faith trading under clauses 10.6.4(d) and 17.1(c), a profit deduction after a refused withdrawal and a 2,500 USD withdrawal unpaid for three months, often with account and order numbers.
StrongTrustpilotE11On Trustpilot Weltrade replies to 97% of negative reviews, usually within 24 hours, and many reviewers report fast deposits and withdrawals.
ModerateTrustpilotE12An archived Forex Peace Army page (12 December 2024) shows 13 reviews averaging 1.78 out of 5, including 2021 reports from Indonesia of profits not paid and a 2023 report of a 1,100 USD withdrawal left pending for a client of weltrade.in, alongside positive reports of fast withdrawals.
ModerateForex Peace Army (archived copy)E13BrokersView records the same 1,100 USD pending-withdrawal complaint (23 October 2023), so it is counted once.
WeakBrokersViewE14The client agreement lets Weltrade reject complaints that threaten negative reviews or regulatory complaints, end accounts for excessive complaints, refuse withdrawals pending investigation where it alleges a breach, and limit withdrawals to deposits until bonus turnover is met. SyntX synthetic indices are priced by algorithms the company sets without regulatory review.
ModerateWeltrade client agreementE15Archived copies show the SystemForex dealing centre at systemforex.ru in June 2009 (copyright 2006-2009 SystemGates Ltd, news items from December 2008) and the Weltrade broker on weltrade.com in March 2012 with footer copyright 2006-2012 SystemGates Ltd and links to the SystemForex sites. Weltrade's milestones page says SystemForex was renamed Weltrade in March 2012.
StrongInternet ArchiveE16RDAP shows weltrade.com registered on 5 May 2004 and systemforex.com on 5 January 2004. weltrade.com showed only a placeholder in August 2010 before carrying the broker in 2012.
E17Archived weltrade.com (28 January 2023) names the then counterparty Systemgates Ltd, Saint Vincent and the Grenadines, company number 24513 IBC 2018, described as regulated by the laws of Saint Vincent, plus Sofiante LP (Ireland) and Systemgates Limited (Marshall Islands). The UK and India were not yet on its restricted list.
ModerateInternet ArchiveE18The Cyprus Registrar of Companies lists DANOA ENTERPRISES LTD, HE 489250, a private company registered on 9 March 2026, the payment agent named in Weltrade's client agreement.
E19Trade press reported on 13 June 2016 that Belarus's National Bank and Ministry of Trade blocked by.weltrade.com because Weltrade had not applied for a Belarus forex licence.
ModerateSMN WeeklyE20A separate site, cryptoweltrade.com, appears on the CNMV warnings search dated 9 June 2025. It is not tied to weltrade.com and is not counted against Weltrade.
The other side
The strongest case in this broker’s favour.
The strongest case for Weltrade is that it is an established offshore broker rather than a fake one.
- Archived copies show the business trading as SystemForex by 2009 and as Weltrade on weltrade.com since 2012. Operations that take deposits and vanish rarely last that long.
- On its South African pages Weltrade states plainly that the trading company is not regulated by the FSCA.
- Its legal documents disclose the Saint Lucia counterparty, the payment agent and the lack of compensation schemes, and they offer negative balance protection.
- Trustpilot shows about 1,700 reviews averaging 3.8, many praising fast withdrawals, and Weltrade replies to nearly every negative review.
- The regulator actions concern operating without local authorisation. None of them finds that Weltrade misused client money.
What would change this
What we would need to see to revise the verdict.
The rating would fall if Weltrade fixed the problems below, and rise if new evidence of harm appeared.
- Weltrade Ltd, or whichever group company holds client money, obtaining a dealing licence from a recognised regulator and appearing on that regulator's public register.
- Weltrade withdrawing the help-centre claim that it is a regulated broker with an official Saint Lucia licence.
- Weltrade ceasing to serve countries whose regulators have warned against it, starting with Malaysia, or those regulators removing their entries.
- A clear fall in complaints about cancelled profits and verification-blocked withdrawals, with documented resolutions.
- In the other direction, any regulator action over client money, or credible reports of fees demanded before a withdrawal is released, would push the rating up.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
FSCA register: FSP 50691 (Weltrade SA (Pty) Ltd)
Official record of the South African intermediary licence and its scope
Reserve Bank of India Alert List
Lists Weltrade (www.weltrade.com) among unauthorised forex platforms
Securities Commission Malaysia Investor Alert List
Search the page for Weltrade (my.weltrade.com)
CONSOB press release, 4 December 2020
Italian order blocking www.weltrade.com
CNMV warnings search: Weltrade
Spanish warning on es.weltrade.com
Weltrade legal documents
Client agreement naming Weltrade Ltd (Saint Lucia) as your counterparty
Trustpilot reviews of weltrade.com
Client reviews, including withdrawal complaints
Frequently asked questions
Quick answers about this broker’s safety.
Is Weltrade a scam?
We rate Weltrade a likely scam, with medium confidence. It is a real broker that has traded since at least 2009, but the company holding client money has no licence, regulators in Spain, Italy, Malaysia and India have named its websites, and its help centre claims a licence that does not exist. Recent reviews also describe cancelled profits and withdrawals held for verification.
Is Weltrade a fraud?
No regulator we checked has charged Weltrade with fraud, and we do not call it one. The regulator actions we found concern operating without authorisation in their countries. We assess the risk to depositors as high because of the missing licence, the false regulatory claim on its help centre and the complaints about withheld profits.
Is Weltrade regulated?
Not where your money is. Accounts are held by Weltrade Ltd, a Saint Lucia International Business Company, which is a company registration and not a financial licence. The group's only licence is an FSCA intermediary authorisation, FSP 50691, held by Weltrade SA (Pty) Ltd in South Africa, and it does not cover Weltrade Ltd.
Does the South African FSCA licence protect me?
Only in a narrow way. FSP 50691 lets Weltrade SA (Pty) Ltd introduce clients for a referral fee; that company does not issue products or act as counterparty. Weltrade's own South African pages say Weltrade Ltd is not regulated by the FSCA and that the FAIS Ombud can only hear complaints about the intermediary.
Why have regulators warned about Weltrade?
Spain's CNMV warned against es.weltrade.com in December 2019, and Italy's CONSOB ordered access to www.weltrade.com blocked in December 2020, naming its then operator Systemgates Ltd. The Securities Commission Malaysia lists my.weltrade.com for unlicensed dealing in securities and derivatives, and the Reserve Bank of India's Alert List names www.weltrade.com. Trade press also reported that Belarus blocked Weltrade's local site in 2016.
Can I withdraw my money from Weltrade?
Many clients report fast withdrawals, often within minutes. Others report withdrawals cancelled until address documents are checked again, and profits cancelled after the company alleged bad-faith or abusive trading. The client agreement lets Weltrade refuse withdrawals pending investigation where it alleges a breach, and limits bonus-account withdrawals to deposits until turnover targets are met.
Is my money safe with Weltrade?
It is not protected by any regulator or compensation scheme, as Weltrade Ltd's own risk disclosure states. Disputes are governed by Saint Lucia law, and deposits may be processed by Danoa Enterprises Ltd, a Cypriot company registered in March 2026. No regulator checks Weltrade's statement that client funds are kept separate.
Who owns and runs Weltrade?
The contracting company is Weltrade Ltd (Saint Lucia, No. 2023-00055). The group also uses Weltrade SA (Pty) Ltd in South Africa and the Cypriot payment agent Danoa Enterprises Ltd; until 2023 the counterparty was Systemgates Ltd of Saint Vincent and the Grenadines. The website does not name the people who own the group.
How long has Weltrade been operating?
Weltrade says since 2006. Archived copies show the business trading as SystemForex by 2009, with phone lines in Russia, Ukraine and Belarus, and as Weltrade on weltrade.com from 2012. The company that holds client money today was incorporated in February 2023, according to its client agreement.
Is Weltrade a clone of another broker?
No. weltrade.com is the brand's original site. Lookalike sites exist, for example cryptoweltrade.com, which Spain's CNMV warned about in 2025, and they are separate operations. Use only weltrade.com and secure.weltrade.com, and treat other domains with caution.
What are Weltrade's SyntX synthetic indices?
They are Weltrade's own instruments, traded around the clock including weekends. The client agreement says their design and algorithms are set solely by the company without regulatory review, so you trade against Weltrade on prices it generates.
What should I check before depositing with Weltrade?
Check whether your own regulator has warned about Weltrade, and read the client agreement to see that Weltrade Ltd in Saint Lucia is your counterparty. Skip deposit bonuses, finish address verification before trading, and make a small test withdrawal first. Keep every order number and support ticket.
What can I do if Weltrade will not pay me?
Complain in writing and keep copies, even though the client agreement lets the company reject complaints that mention reviews or regulators. Ask your bank or card issuer about a chargeback and report the matter to your national regulator. Ignore anyone offering to recover your money for an upfront fee.
What we recommend
The practical takeaway from everything above.
Treat Weltrade as an unregulated offshore broker and do not rely on its claims of regulation.
- Know who holds your money: Weltrade Ltd in Saint Lucia, with no licence, no compensation scheme and Saint Lucia law governing any dispute.
- Check your own regulator's warning list before depositing. Residents of Malaysia and India should note the SC Malaysia and RBI entries.
- In South Africa, the FSCA licence covers only the introducer, Weltrade SA (Pty) Ltd. Weltrade links only to its own copy of the certificate, so look up FSP 50691 on the FSCA's FAIS search yourself.
- Avoid deposit bonuses: profits can be forfeited until spread or turnover targets are met.
- Finish identity and address checks before trading, make a small test withdrawal first, and keep every order number, ticket and document.
- If a withdrawal is refused, complain in writing, ask your bank or card issuer about a chargeback, report it to your regulator, and ignore anyone who offers recovery for an upfront fee.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed November 10, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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