As a stuff or owner of company you have support good image of Company, I and other understand you.
This company HAVE NOT ANY BROKERAGE LICENSE TODAY and is not regulated. After my investigation I made, COMPANY IS DEALING DESK and not send any funds to interbank Forex market, only wait when traders will lose their deposits.
Their advertisement specially created to ATTRACT NOT EXPERIENCED traders, who probably quick lose their deposits.
They have very high EURUSD spread - 2 pips, you can easy find today company with spread below 1 pips.
They claim that they try obtain License in BVI. Only question is why they so hurry to work without license ??? Answer is simple - money...
They can tell nothing about their datafeeds. Because for Dealing Desk Company any datafeed is acceptable "for sell quotes" business and because 95% trade will lose money during 90 days in accordance with their business plan - only attract clients and wait is their goal. No sense send money outside office that is why they cannot confirm that they have any agreement with real interbank liquidity provider.
I'm trader with 18 years experience. Winning trader
That is why I see such "brokers" as using X-rays.
wow, what a lovely conversation we got here, sir! Will gladly spend my time of answering to your questions which obviously have appeared due to your broken x-ray scanner!
But before I do so - let me remind you second time about address of the company and licence nummber - that its right there on the website downstairs. Do you use internet, too? Or just saying everything without looking?
And now lets start:
1) I am just an IB of this company. Not employee as well as in other companies as a proof of it I can send you my IB links to it.
2) weltrade has a brokerage licence in Ukraine: its nummber is also writen in the most visible place on the website on EVERY PAGE of it.
3) Companies main benefits in comparing to other companies are: Direct rebate Service, Withdrawal of the funds in 30 minutes, ECN accounts and automated trading - ZuluTrade - are not pushing or advertising anyhow new costumers. This company even dont have their own school which means THEY ARE NOT ATTRACTING new costumers only how you say and unexperienced. Unexperienced forex traders don't even know what is rebate service and are going directly to the broker who is offering school and educational programs.
4) 2 pips of eur/usd spread is absoultely normal commision in the market. If it's less then even I get suspicious.. List the companies which have less I will list you 5 times more and better companies who have the same. So its a very bad argument and actually it does not play big role at all. And by the way - weltrade offers also ECN accounts, as many others players in the market, where spread is floating starting even from 0 pips!
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thats so far... im just starting.. just want you to read again the website, double check what you are talking about, then write it. And now I'm continuing:
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BVI licence - a)I do not see any place in the website where they claim to obtain this licence. b) even if they claim so - I do not see any point of it. All those brokers with the BVI licence - whats the point of having it? Do you, khm, 18
years old experienced trader
(or 18 month maybe?) have any idea of what this means? BVI - British Virgin Islands - is a place where any company can open their offshore accounts and most of companies are doing it because it costs much cheaper than other. BVI, Cyprus or whatever.. it DOES NOT MATTER FOR TRADER WHO TRADES!!! What matters is that their servers are based in Norway to guarantee superfast executions without slippages and delays! What matters is their costumer support! And As I wrote you allready now 3rd time: check out their licence yourself. Just open it: weltrade.com or weltrade.in or whatever other website they have and see it yourself downstairs of the page. Ok, let me copy it for you: © 2006-2012 Systemgates Ltd. All rights reserved. Terms of UsePrivacy PolicyRisk Disclosure Systemgates Ltd is authorized and regulated by the NSSMC (National Securities and Stock Market Commission) 2012 License#: 36405537Systemgates Ltd
10-12A, Zolotoustivska str., #84 Kyiv, 01135, Ukraine
And here you can see that this company is in the market already almost 7 years. Proven data. Not 2 or 3 but almost 7. And they have supports in many languages which also plays a role of their credibility!
Again - licence in BVI - I can't find it writen on their website, if you can - send the link, I would like to check it myself. The thing what matters is the quality of execution speed. I do not wish to talk here about other forex brokerages, but it's really fast on this. And support is good, too.
Datafeeds and dealing desk: Where is your problem man!? If you don't like the dealing desk they offer ECN accounts! And if you have been traiding for 128 years, even before computer was invented, ask their support this question yourself and copy/paste the answer. As far as I know - every forex company has a dealing desk which is functioning in order to cover outside of the company opened position as its the rules of liquidity providers to do so in EVERY FOREX BROKERAGE who is offering shoulders like 1:200 or 1:500 or 1:1000 or 1:2000. That's how the business is! Forex business is supported by liquidity providers. And it's a must to do so!
And if you are really 18 years
experienced trader, then I'm sure you would not bother yourself with such questions.. You would know them. Or you are just leaving an impression that you just felt from the moon and wondering why world is round.. Just check something before you write something. Weltrade is actually really good company with one of the fastest execution speeds in the market what matters for me and my costumers I'm recommending this to.
