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Do you want to know which is the better broker between WeTrade and LBLV ?
In the table below, you can compare the features of WeTrade , LBLV side by side to determine the best fit for your needs.
EURUSD:-0.3
EURUSD:0.7
EURUSD:20.89
XAUUSD:31.61
EURUSD: -8.4 ~ 0.67
XAUUSD: -34.97 ~ 16.65
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of wetrade, lblv lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | United Kingdom |
Regulated by | LFSA, FSA |
Year(s) of establishment | 5-10 years |
Trading instruments | Forex pairs, metals, energies, indices, stocks, cryptocurrencies… 90+ instruments |
Minimum Initial Deposit | $50 |
Maximum Leverage | 1:2000 |
Minimum spread | 0.0 pips onwards |
Trading platform | MT4 |
Deposit and withdrawal method | Bank wire transfer, USDT, local deposit, union pay |
Customer Service | 24/7 Email, live chat, YouTube, Facebook, line |
Fraud Complaints Exposure | No for now |
WeTrade is a UK registered forex broker that is regulated by the Financial Services Authority (FSA) and the Labuan Financial Services Authority (LFSA) in Malaysia. The FSA is one of the most reputable financial regulatory bodies in the world, and its oversight ensures that WeTrade operates according to strict standards of transparency and fairness. The LFSA is also a well-respected regulator and its oversight provides an additional layer of protection for traders. WeTrade's regulatory status is a significant advantage as it offers traders a level of protection and reassurance that their funds are safe and that the broker is operating within the law.
WeTrade is regulated by the Labuan Financial Services Authority (LFSA) in Malaysia under a Straight Through Processing (STP) model, ensuring adherence to local financial regulations. Additionally, it holds offshore regulatory status with the Financial Services Authority (FSA), which includes business registration for broader operational compliance. These regulatory frameworks ensure that WeTrade maintains high standards of transparency and security, providing a reliable trading environment for its clients.
Pros and Cons of WeTrade
Pros:
Regulated by FSA and LFSA, ensuring client fund safety
Wide range of instruments including forex pairs, metals, energies, indices, stocks, and cryptocurrencies
Multiple account types to suit different traders, including a demo account
Competitive spreads and high leverage of up to 1:2000
Educational resources available to traders, including an economic calendar and video tutorials
Cons:
Limited deposit and withdrawal options, with only USDT, bank wire, and local deposit accepted for deposit and union pay and bank wire for withdrawal
Customer support with only email and social media channels for communication
Limited information available about the company's background and history
No mobile trading platform available for traders on the go
ECN account requires a minimum deposit of $3000 and charges a commission of $7 per lot traded.
Pros | Cons |
Regulated by FSA and LFSA | Limited deposit/withdrawal options |
Wide range of instruments | Customer support limited to email and social media |
Multiple account types, including demo | Limited company background information |
Competitive spreads; high leverage up to 1:2000 | No mobile trading platform |
Educational resources available | ECN account: $3000 minimum deposit, $7/lot commission |
WeTrade offers its traders a wide range of 90+ instruments to choose from, including forex pairs, metals, energies, indices, stocks, and cryptocurrencies. This provides traders with a great opportunity to diversify their trading portfolio and access a variety of markets and assets. However, the broker does not provide specific information on spreads for each instrument, which can be a disadvantage for traders who are looking for greater transparency in terms of trading costs. Additionally, the selection of cryptocurrencies offered by WeTrade is somewhat limited compared to some other brokers in the market.
WeTrade offers multiple account types, including STP, VIP, ECN, and Affiliate accounts, each with different spreads and commissions. The STP account offers spreads of EURUSD from 1.8 pips, with zero commission, making it an ideal choice for beginner traders. The VIP account offers lower spreads of EURUSD from 1.0 pips, with zero commission, making it a suitable option for advanced traders. The ECN account offers zero spreads, but with a commission of $7 per lot traded, making it more suitable for high-volume traders. Lastly, the Affiliate account offers spreads of EURUSD from 2.3 pips, with zero commission, designed for traders who want to earn commission through referrals. Overall, WeTrade's spreads and commission rates are competitive and cater to different trading needs.
WeTrade offers traders a choice of four account types to suit their needs. The STP and VIP accounts have a minimum deposit of 50USD and 1000USD, respectively, and both offer commission-free trading. The ECN account requires a higher minimum deposit of 3000USD but offers spreads as low as 0.0 pips with a commission of 7USD per lot. The Affiliate account has the same minimum deposit as the STP account and offers commission-free trading, but with wider spreads. Additionally, a demo account is available for traders who want to practice their trading strategies without risking real money. The high leverage of 1:2000 is available across all account types, but some traders may prefer a lower leverage.
WeTrade offers its clients the MetaTrader 4 (MT4) platform, which is a well-known and widely used trading platform in the forex industry. The platform is known for its user-friendly interface and wide range of technical analysis tools and indicators, making it a popular choice among traders. Additionally, MT4 supports algorithmic trading through Expert Advisors (EAs), providing traders with automated trading capabilities. However, one of the main disadvantages of MT4 is its limited customization options, making it difficult for traders to create a personalized trading environment. Additionally, the platform lacks a built-in economic calendar and mobile push notifications, which can be a drawback for traders who rely on these features. Lastly, while MT4 supports multiple order types, it has limited timeframes for backtesting, which can be a disadvantage for traders who want to thoroughly test their strategies.
WeTrade offers a maximum leverage of up to 1:2000, which is relatively high compared to other forex brokers. This allows traders to potentially increase their profits with a smaller capital investment and have greater market exposure. However, high leverage also increases the risk of significant losses and margin calls, especially for inexperienced traders who may misuse it or engage in overtrading or emotional trading. Experienced traders with solid risk management strategies may find high leverage useful, but regulated brokers have limits on maximum leverage, which may restrict traders from taking advantage of higher leverage ratios.
WeTrade offers its clients multiple deposit options, including USDT, bank wire, and local deposits. Clients can withdraw funds via union pay and bank wire. WeTrade does not charge any extra fees for deposits or withdrawals. Additionally, there is no minimum account required, making it accessible for traders with different budgets. However, there is limited information provided about the deposit/withdrawal processing time. While WeTrade provides a safe and secure transaction environment, it offers limited withdrawal options compared to other brokers.
WeTrade offers various educational resources to its clients to enhance their trading skills and knowledge of the financial markets. The resources include an economic calendar, market reports, video tutorials, analyst views, indicators, and TV channels. The economic calendar keeps clients informed about important upcoming events that could affect the markets, while the market reports and analyst views provide up-to-date information on market trends. The video tutorials cover a range of topics from the basics of trading to advanced strategies, and clients can access a variety of indicators and TV channels for technical analysis. The educational resources are available in multiple languages to cater to clients from different parts of the world. However, there is no dedicated educational section on the website, and the educational resources may not be sufficient for advanced traders seeking more in-depth training.
WeTrade offers a comprehensive customer care service that is available 24/7 through various communication channels such as email, YouTube, Facebook, and line. This provides customers with multiple options to reach out to the support team and get their queries resolved in a timely manner. Additionally, the support team has a reputation for providing quick response times, which ensures that customers' issues are resolved efficiently. However, WeTrade does not offer phone support, which may be inconvenient for some customers who prefer to speak with a representative directly. Moreover, the response time may vary based on the communication channel used, and the nature of the query may also impact the response time.
In conclusion, WeTrade is a UK-based forex broker that is regulated by FSA and LFSA. The broker offers various account types, including STP, VIP, ECN, and affiliate, with competitive spreads and high leverage up to 1:2000. The broker supports various trading instruments, including forex pairs, metals, energies, indices, stocks, and cryptocurrencies. Moreover, WeTrade provides educational resources and customer support available 24/7 via email, YouTube, Facebook, and Line. Overall, WeTrade has some advantages such as competitive trading conditions, a wide range of tradable instruments, and excellent customer support, which make it an attractive option for traders. However, there are also some drawbacks such as limited deposit and withdrawal options, lack of a proprietary trading platform, and no negative balance protection. Therefore, traders should carefully consider their options and weigh the advantages and disadvantages before choosing WeTrade as their preferred forex broker.
What is the minimum deposit required to open an account with WeTrade?
The minimum deposit required to open an account with WeTrade varies depending on the account type chosen. For the STP or affiliate account, the minimum deposit is 50 USD, for the VIP account it is 1000 USD, and for the ECN account it is 3000 USD.
What trading platforms does WeTrade offer?
WeTrade offers the popular MetaTrader 4 (MT4) platform for desktop, web, and mobile devices. MT4 is well-known for its advanced charting features, customization options, and automated trading capabilities.
What are the maximum leverage levels offered by WeTrade?
WeTrade offers a maximum leverage of up to 1:2000 for all account types, which means that traders can open positions that are up to 2000 times the size of their account balance.
What instruments can I trade with WeTrade?
WeTrade offers a variety of financial instruments for trading, including forex pairs, metals, energies, indices, stocks, and cryptocurrencies. In total, there are over 90 instruments available for trading.
How can I contact WeTrade customer support?
WeTrade offers 24/7 customer support via email, YouTube, Facebook, and Line. Traders can reach out to the support team at any time for assistance with their account or trading-related questions.
LBLV Review Summary | |
Founded | 2017 |
Registered Country/Region | Seychelles |
Regulation | FSA (Revoked) |
Market Instruments | Currencies, Indices, Stocks, Metals, Commodities, Digital Currencies |
Leverage | Up to 1:400 |
Trading Platforms | LBLV Trader |
Minimum Deposit | $5000 (Rookie Account) |
Regional Restrictions | Not available to residents and citizens of certain regions, including the USA and North Korea |
Customer Support | Email: clientservices-th@lblv.com, clientservice-ru@lblv.com, clientservice-pt@lblv.com, clientservices@lblv.com |
Phone: +1 8447924568 | |
Live Chat | |
Facebook, Instagram |
LBLV, founded in 2017 and registered in Seychelles, is a financial brokerage offering a range of trading instruments, including currencies, indices, stocks, metals, commodities, and digital currencies. It provides six account types to suit different trading needs. The company previously operated under the regulation of the Financial Services Authority (FSA). But this regulation has been revoked.
Additionally, LBLV is not available to residents and citizens of certain regions, including the USA and North Korea, due to regulatory restrictions.
Pros | Cons |
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Wide Range of Instruments: LBLV offers trading in various markets, including forex, indices, stocks, metals, commodities, and even digital currencies, providing flexibility for investors seeking diversification.
Multiple Contact Channels: LBLV provides various customer support channels, including a phone number, email, live chat, and presence on social media platforms, which is beneficial for quick and convenient assistance.
Diverse Account Types: LBLV offers diverse account types to cater to the varying needs of traders, including Rookie, Basic, Premier, Elite, Elite Plus, and VIP.
Revoked Regulation: The most significant concern is the revoked regulation by the Seychelles FSA. This raises serious doubts about investor protection and the company's legitimacy.
High Minimum Deposit: The $5,000 minimum deposit is far above the industry average, making it a significant barrier to entry for many potential investors, especially beginners.
Regional Restrictions: LBLV restricts residents of certain regions, including the US, from trading on their platform, limiting their reach and accessibility.
Exposure of Inability to Withdraw: There are six pieces of exposure of inability to withdraw on WikiFX, which indicates risks to fund safety.
LBLV is highly likely to be unsafe for several reasons.
Their previously claimed regulation by the Seychelles FSA, which is already considered low-tier, has been revoked, leaving investors practically unprotected in case of disputes or fraudulent activity.
There are six pieces of exposure on WikiFX alleging difficulty withdrawing funds, which is a significant red flag, indicating risks about the company's financial stability and manipulation of funds.
Additionally, the $5,000 minimum deposit is far above the industry average, creating a significant barrier to entry and potentially making it difficult to recover even a portion of your investment if things go wrong.
LBLV offers over 1400 trading instruments across six different markets, providing traders with ample opportunities to diversify their portfolios and take advantage of various investment options.
Currencies: Take advantage of investment opportunities by engaging in the buying and selling of currencies through trading major or minor currency pairs like EURUSD, AUDGBP or USDJPY.
Indices: Trade on the performance of multiple stock companies as a whole and invest in global indices like S&P 500, Nasdaq, and FTSE by monitoring local economic conditions.
Stocks: Experience greater flexibility without buying the underlying assets by investing in big tech firms and other popular stock companies like Amazon, Microsoft and Apple.
Metals: Trade different spot metals where you can speculate Gold (XAU) or Silver (XAG) against major currencies. Invest in other precious metals like Aluminium and Platinum.
Commodities: Get more exposure to a wide variety of commodities and invest in agricultural and energy derivative contracts. Trade different commodities like Brent oil, coffee or gas.
Digital Currencies: With digital currencies, you can go long or short and trade Bitcoin, Ethereum, Ripple and Cardano. Make the most out of the volatile market with the right tools and platform.
LBLV offers 6 account types to suit different trading needs. The accounts offered by LBLV share several common features, such as Islamic Account options, mobile trading capabilities, 24-hour dedicated support, access to account managers, technical indicators, and technical analysis tools. Additionally, all account holders have the option to open an EU Private Bank Account and access the services of a personal banker for assistance.
The Rookie Account, with a minimum deposit of $5,000 USD, is ideal for beginner traders or those with limited investment capital.
Moving up the ladder, the Basic Account requires a minimum deposit of $25,000 USD and targets traders with some experience and a slightly larger investment capital.
The Premier Account, with a minimum deposit of $50,000 USD, targets more experienced traders with a larger investment capital.
For seasoned traders or high-net-worth individuals, the Elite Account requires a minimum deposit of $100,000 USD.
The Elite Plus Account, with a minimum deposit of $250,000 USD, targets high-net-worth individuals or institutional traders.
At the top tier, the VIP Account requires a minimum deposit of $1,000,000 USD and is targeted at high-net-worth individuals or institutional traders seeking the most exclusive benefits.
LBLV offers leverage of up to 1:400, enabling traders to amplify their trading positions significantly with a relatively small amount of capital. Leverage is a double-edged sword, as while it can magnify profits, it also increases the risk of substantial losses.
LBLV claims to offer low trading commissions, allowing traders to increase their market exposure to all accessible instruments without incurring high fees. Additionally, the platform promises zero hidden fees, ensuring transparency in trading costs. However, detailed information about spreads and commissions is not readily available on the LBLV website.
LBLV provides a flexible platform system suitable for all types of traders, offering a sophisticated toolkit accessible on any device.
The platform is cross-platform, meaning it can be accessed and used on various devices seamlessly. It offers various charts and timeframes, enabling traders to analyze market trends and make informed trading decisions. Traders can manage multiple trades simultaneously, enhancing their trading efficiency and flexibility.
LBLV's platform ensures security through SSL encryption, protecting traders' sensitive information and transactions. The platform also provides flexible layouts, allowing traders to customize their trading environment according to their preferences. Additionally, efficient indicators and tools are integrated into the platform to assist traders in conducting technical analysis and making informed trading decisions.
LBLV provides many trading tools to help you process your trades.
Contract Expiries: Check the expiration dates of the futures contract you are investing in.
Calendar: With the regular use of the economic calendar, you can follow the release schedule of numerous economic indicators and get ready for significant market movements. Economic indicators help you consider trades in the context of economic events and understand price actions during these events.
Trading Hours: Monitor the opening and closing hours of global market exchanges.
The deposit methods are funding via credit or debit cards (Visa and MasterCard), bank transfers, and digital-currency wallets. Available currency options include EUR, USD, GBP, JPY, and AUD. In order to avoid conversion fees, choose a currency for your account that is the same as the currency you use for deposits and withdrawals.
LBLV provides customer support through various channels to cater to the diverse needs of its clients.
Traders can reach out to the support team via email, with dedicated email addresses for different languages and regions, includingclientservices-th@lblv.com, clientservice-ru@lblv.com, clientservice-pt@lblv.com, and clientservices@lblv.com.
Additionally, traders can contact LBLV's customer support team by phone at +1 8447924568, providing a direct and immediate way to seek assistance.
LBLV also offers live chat support, allowing traders to engage with a support representative in real-time for quick assistance.
Moreover, LBLV maintains a presence on social media platforms such as Facebook and Instagram.
LBLV presents an array of trading instruments and diverse account options, which can be enticing for traders seeking flexibility. However, there are significant red flags that cast doubt on its safety and legitimacy. The most concerning aspect is the revoked regulation by the Seychelles FSA, leaving investors with minimal protection. This, coupled with reports of difficulty withdrawing funds and a high minimum deposit, makes LBLV a highly risky choice for most investors.
We strongly advise to avoid LBLV and prioritize platforms with robust regulatory oversight and a commitment to investor protection.
Q: Is LBLV regulated?
A: No, LBLV was previously regulated by FSA, but its regulation has been revoked.
Q: What trading instruments are available on LBLV?
A: LBLV offers a wide range of trading instruments, including currencies, indices, stocks, metals, commodities, and digital currencies.
Q: What is the minimum deposit required to open an account with LBLV?
A: $5,000.
Q: Are there any restrictions on who can trade with LBLV?
A: LBLV is not available to residents and citizens of certain regions, including the USA and North Korea.
Q: What leverage is available on LBLV?
A: LBLV offers leverage of up to 1:400.
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 provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive wetrade and lblv are, we first considered common fees for standard accounts. On wetrade, the average spread for the EUR/USD currency pair is EURUSD from 0 pips, while on lblv the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
wetrade is regulated by LFSA,FSA. lblv is regulated by FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
wetrade provides trading platform including ECN,VIP,STP and trading variety including --. lblv provides trading platform including VIP,Elite Plus,Elite,Premier,Rookie,Basic and trading variety including --.