Minimum Deposit: $500
Maximum Leverage: 1:500
Welkron is a newly established broker that headquartered in Saint Vincent and Grenadines. They owned by a company named WBB CONSULTANCY SA but there is not much information about the company. I wanted to ask some questions about the company but I couldn’t because live chat option is not available on their web site. I can say that their web site is too amateur and basic and not looking very professional.
In this Welkron review, you will find all the information about them. Is Welkron good or a scam broker? What are their advantages and disadvantages? Are they regulated or unregulated broker? What account types, spread and deposit/withdrawal methods they are offering?
Leverage ratios are 1:100, 1:200 and 1:500, depending on your account type at Welkron. More than 150 currency pairs, stocks, commodities and indices are available at Welkron’s platform but cryptocurrencies are missing. And demo account is not supported.
My personal favorite platform, MetaTrader4 is supported by Welkron and I can say that MT4 and high leverage may be their only advantages.
While I reviewing a broker I always look their regulator and licenses first. And after did my research about Welkron’s regulation, I found nothing. I can say that Welkron is a clearly unregulated and unlicensed broker.
That means your money may not be safe while working with this broker. I personally choose to work brokers that are regulated by FCA (Financial Conduct Authority) in UK (Financial Conduct Authority), CySEC (Cyprus Securities and Exchange Commision) in Cyprus or ASIC (Australian Securities and Investment Commission) in Australia.
After ESMA measures, some brokers in Europe are choosing to get licenses from VFSC (Vanuatu Financial Services Commission) or IFSC (International Financial Services Commission of Belize) in order to avoid losing clients. This situation is also acceptable for me, but having no license is not acceptable.
Account Types and Spreads
Minimum deposit limit is $500 at Welkron and they offer 4 different account types. Mini Account ($500 – $10.000), Standart Account (>$10.000), Pro Account (>$25.000) and VIP Account (>$50.000).
$500 minimum deposit limit is very high and spreads starting from 2.0 pips(also higher than many brokers). And only currency pairs available if you choose mini account type. Also, you can’t get phone support. That means you have to deposit at least $10.000 in order to trade with all products and get phone support. These are ridiculous terms for me to work with an unregulated broker.
Deposit/Withdrawal Methods at Welkron
Very limited deposit and withdraw methods are available at Welkron: Credit card, InterKassa and Lion Payment.