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Weltex

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Operating status: SCAM

Website: https://www.weltex.co

Broker violations and abnormal records
  • 2022-06-17 The Austria FMA Added Weltex into Its Warnings

    On 18 June 2022, the Austrian Financial Market Authority (FMA) issued a warning that Weltex is not authorised to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others. You may visit: https://www.fma.gv.at/en/weltex/


    On 18 June 2022, the Austrian Financial Market Authority (FMA) issued a warning that Weltex is not authorised to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others. You may visit: https://www.fma.gv.at/en/weltex/
  • 2022-07-25 BrokersView has Reviewed that Weltex is an Unregulated Forex Broker

    Weltex claims to be a powerful broker without presenting important information such as regulation, address, phone number, etc. The lack of such information makes it hard to verify its legitimacy or get in touch with it. This may be a distinct signal of an unlicensed broker, as regulated brokers always present the information in a prominent position. It is a red flag. 

    Moreover, the Austrian Financial Market Authority (FMA) issued a warning that Weltex is not authorised to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others.

    The truth is that Weltex is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.

    Weltex claims to be a powerful broker without presenting important information such as regulation, address, phone number, etc. The lack of such information makes it hard to verify its legitimacy or get in touch with it. This may be a distinct signal of an unlicensed broker, as regulated brokers always present the information in a prominent position. It is a red flag. Moreover, the Austrian Financial Market Authority (FMA) issued a warning that Weltex is not authorised to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others.The truth is that Weltex is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.
  • 2022-11-23 BrokersView has found that Weltex is not working

    BrokersView found the domain "https://www.weltex.co" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

    BrokersView found the domain "https://www.weltex.co" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

Related Complaints

Q&A

Do they charge swap fees? If they do, how many?

Simba
New Caledonia
2022-10-11
ANSWER Weltex is not a licensed or regulated broker even though it states offers that look good to be true. Weltex claims to be a powerful broker without presenting important information such as regulation, address, phone number, etc. Lacking such important information makes it hard to verify its legitimacy or get in touch with it. This may be a distinct signal of an unlicensed broker, as regulated brokers always present the information in a prominent position. It is a red flag. Moreover, the Austrian Financial Market Authority (FMA) issued a warning that Weltex is not authorised to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others. You can check the full warning from here.The truth is, Weltex is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Weltex and trade with licensed brokers.
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