The online forex broker Weltrade announced on Thursday that it is reducing the minimum required deposit for professional trading accounts to $1000. The reduction is the result of agreements with the broker’s liquidity providers.
The other types of accounts, offered by Weltrade – micro, premium, ZuluTrade and PAMM – retain the current minimum deposits: $25, $200, $500 and $200, respectively. The broker notes that the Micro account is mostly for training purposes and it keeps the right to limit trading activity on this account type and propose the transfer of the activity to the other types of accounts. The funds transfer between accounts is free of charge.
The broker offers trading in forex, precious metals and contracts for difference (CFDs). The professional account provides trade in 35 currency pairs, gold, silver, platinum, palladium, two grades of oil, CFDs on stock indices, like for example S&P 500, Dow Jones, etc. and +5% annual interest on free margin. Trade can be carried out on the MetaTrader 4 platform.
Welltrade has been operating on the forex market for nine years. It has four representative offices – in Russia, Ukraine, Belarus and Tahiland and 126 regional partners. It is based in Belize and is regulated by the country’s International Financial Services Commission (IFSC).