WeTrade FX Forex broker review

Written by:
Written on:
23 February 2024
Last edit:
29 March 2024
Our rating:


WeTrade FX Forex broker review

Written by:
Written on:
23 February 2024
Last edit:
29 March 2024
Our rating


Trading is risky
See how WeTrade FX compares to it's closest alternatives.

Main summary

WeTrade International LLC is a Forex and CFDs broker that is registered in several countries and has a license to offer CFDs to its clients. Despite being registered in numerous offshore jurisdictions, the broker has only one license. The broker is a relatively young entity and offers up to sixty various trading instruments in Forex, commodities, indices, stocks, and cryptos.

Let’s research WeTrade FX to find out if it is a legit broker. 

Pros & cons of WeTrade FX broker

  • Ability to deposit and withdraw with $0 fees
  • Offers access to MetaTrader 4 for all devices
  • Fast and digital account opening/verification
  • Offers access to 30+ Forex pairs
  • There is a low minimum deposit requirement of just 10 USD
  • There is an account offering zero spreads for major pairs
  • Most payment options are free and withdrawals are fast
  • Very high spreads from 1.8 pips on major pairs
  • Very high leverage limits of up to 1:2000 increasing risks
  • Registered and regulated in the offshore economy

WeTrade FX Fact sheet

Main features
Regulations Unregulated
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 0 USD
Minimum deposit 10 USD
Minimum account activation 10 USD
Number of available assets 90
Leverage up to 1:-
Available trading markets Forex, Indices, Commodities, Stocks, Cryptocurrencies
Account currencies USD
Demo account Yes
Live account types Cent, STP, ECN, VIP
Islamic account Yes
Negative balance protection Yes
Part of compensation fund Yes
Keeps funds on segregated bank account Yes
Total -
Fees & spread
Forex From 1.8 pips
Shares -
Cryptocurrencies -
Indices -
Commodities -
Platforms -
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods -
Minimum deposit -
Minimum withdrawal -
Withdrawal processing time -
Time to open an account -
Show all

Safety & Security of WeTrade FX

WeTrade FX is a regulated broker. It is overseen by the Financial Services Authority of Saint Vincent and the Grenadines. However, this regulator is an offshore authority known for its less restrictive regulations and since the broker only holds a license from them, it reduces its reliability. Still, one license is much better than being unregulated, and we can assume the broker is not a scam. 

All trading accounts are protected by negative balance protection and client funds are kept in segregated bank accounts. 

Additionally, the broker is a member of an investor compensation fund to provide compensation to eligible investors in case of insolvency. 

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Account types available for traders on WeTrade FX

There are several trading accounts catering to traders with diverse trading strategies and methods. Cent accounts, STP, VIP, and ECN offer different trading conditions.

Cent account is for traders who want to trade with the smallest possible volumes and comes with a high initial deposit requirement of 100 USD. Usually, brokers offer 5-10 USD minimum deposits or even 1 USD when offering cent accounts. In WeTrade FX’s case this is not the case and the Cent account is not attractive. Spreads also start from 1.8 pips, which is higher than the industry standard of 1 pip. Leverage is at 1:500 and the order execution model is STP.

STP account comes with a higher leverage of 1:2000, a minimum deposit of 10 USD, and zero trading commissions. The spread for major Forex pairs is also lower on the STP account from 1.8 pip. 

The VIP account offers similar specs as the STP account but requires more trading capital from 1000 USD, and spreads are lower from 1 pip.

ECN account requires a higher minimum deposit of 3,000 USD, has a trading commission of 7 USD per lot round-turn, spreads start from 0 pips, and has a maximum leverage of 1:2000. 

An affiliate account can also be opened with just 10 USD and offers spreads from 2.3 pips and a maximum leverage limit of 1:2000 similar to previous accounts. 

Pros & cons of WeTrade FX account types

There is a very low minimum deposit of $10Zero spread accounts require a high initial deposit of 3,000 USD
Enables traders to use Demo and Islamic account typesCent account has a higher minimum deposit requirement
There is an account with zero spreads to appeal to scalpersAll spreads are expensive except zero-spread accounts

Fees & commissions review of WeTrade FX

Comparing WeTrade FX fees with other brokers

WeTrade FX fees compared to Interactive Brokers fees

Type of FeeWeTrade FXInteractive Brokers
EUR/USD SpreadFrom 1.8 pipsFrom 0.6
Fees on Deposits0 USD1%
Inactivity fee0 USDNo*

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

WeTrade FX fees compared to CM Trading fees

Type of FeeWeTrade FXCM Trading
EUR/USD SpreadFrom 1.8 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 15 EUR/USD per month after 60 days of inactivity

WeTrade FX fees compared to plus500 fees

Type of FeeWeTrade FXplus500
EUR/USD SpreadFrom 1.8 pipsFrom 0.8 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 10 USD per month after 3 months of inactivity

WeTrade FX fees compared to XM fees

Type of FeeWeTrade FXXM
EUR/USD SpreadFrom 1.8 pipsFrom 0.6
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 15 USD after 12 months, +5 USD/m

WeTrade FX fees compared to AvaTrade fees

Type of FeeWeTrade FXAvaTrade
EUR/USD SpreadFrom 1.8 pipsFrom 0.9
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 50 USD after 3 months, 100 USD administration fee after a year

WeTrade FX fees compared to Capital.com fees

Type of FeeWeTrade FXCapital.com
EUR/USD SpreadFrom 1.8 pipsFrom 0.9
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 50 USD after 3 months, 100 USD administration fee after a year

Trading platforms and mobile trading reviewed at WeTrade FX

All trading accounts come with the advanced MetaTrader 4 platform which can be used on all devices including Desktop, mobile, and web. With WeTrade MT4, traders can travel at any time from anywhere in the world, which is the main advantage of advanced platforms like MT4. 

Another essential feature of WeTrade is that it allows multi-terminal functionality for their MT4. Traders can manage several trading accounts simultaneously using one trading platform. 

Education and research tools offered by WeTrade FX

In the educational department, everything seems fine at WeTrade FX, as the broker offers multiple resources to appeal to both beginners and experienced traders. Traders can use WeTrade’s Forex terminologies and candlestick patterns. While these resources are nowhere near giving beginners enough understanding of financial markets, there are other forms of education offered such as Web V, and Market Commentary. 

From the technical side, there are many useful tools provided to WeTrade FX clients including Economic calendar, trading central, Analyst views, and TC MT4 indicators. The indicators package for MT4 should make it easier for traders to analyze markets and monitor their trading activities more efficiently. 

Customer support of WeTrade FX

When it comes to support, multiple channels provide it. What's most important there is a live chat available enabling users to connect with the broker representatives at a moment's notice. Both the website and the live chat are available in several languages, offering assistance to all clients in their native languages. 

There is also an email support and extensive FAQ section available, but no phone support. Generally, when a broker does not offer phone support it immediately alarms us about possible fraudulent activity as hiding a phone number indicates the company tries not to expose itself to clients. 


WeTrade FX is an offshore-regulated Forex and CFDs broker offering trading instruments in diverse asset classes. Spreads are high, and the minimum deposit starts from 10 USD. Spreads from 1.8 pips are well above the industry-accepted standard of 1 pip. Leverage limits are also very high at 1:2000 making it highly risky to trade with WeTrade. The broker offers MetaTrader 4 as a trading platform accessible on multiple platforms. 

WeTrade offers educational and research tools like the economic calendar and MT4 indicators. Customer support is available via live chat and email support, but there is no phone support option. 

Overall, WeTrade FX offers low minimum deposits and access to MT4 but has high spreads and offshore regulation. Traders should exercise extra caution when dealing with this broker. 

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FAQs about WeTrade FX

Is WeTrade FX a regulated broker?

Yes, WeTrade FX is regulated by the Financial Services Authority of Saint Vincent and the Grenadines, an offshore regulatory authority.

What are the fees for trading with WeTrade FX?

WeTrade FX charges fees starting from 1.8 pips for Forex trading but does not impose fees on deposits or withdrawals.

What trading platform does WeTrade FX offer?

WeTrade FX offers the MetaTrader 4 platform, which is accessible on desktop, mobile, and web, with multi-terminal functionality.