Bitfinex
WellsTrade
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Overview
Bitfinex was founded in 2015 and is headquartered in New Zealand, while WellsTrade was established in 2008 and is based in United States. Bitfinex holds licences including Financial Services Provider (FSP), while WellsTrade is regulated by Unregulated among others. Bitfinex serves 10,000+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $100 at Bitfinex and $30 at WellsTrade.
| Feature | Bitfinex | WellsTrade |
|---|---|---|
| Min. Deposit | $100 | $30 |
| Regulation | Financial Services Provider (FSP) | Unregulated |
| Founded | 2015 | 2008 |
| Country | New Zealand | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Bitfinex and WellsTrade, directly affecting your bottom line as a trader. Bitfinex has a lower barrier to entry with a minimum deposit of $100 (vs $30 at WellsTrade). Bitfinex charges withdrawal fees while WellsTrade does not, a notable advantage for frequent withdrawers. Overall, WellsTrade scores higher on fees in our assessment.
| Feature | Bitfinex | WellsTrade |
|---|---|---|
| Min. Deposit | $100 | $30 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Bitfinex offers MT5, cTrader, while WellsTrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Bitfinex supports social and copy trading features, which WellsTrade does not offer. WellsTrade edges ahead on platform breadth and functionality in our scoring.
| Feature | Bitfinex | WellsTrade |
|---|---|---|
| MT4 | No | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Android Apps,iPhone/iPad,Desktop | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Bitfinex and WellsTrade compare. Bitfinex runs regular live webinars; WellsTrade does not. Bitfinex has a video library; WellsTrade does not. Bitfinex publishes daily market commentary; WellsTrade does not. Bitfinex integrates third-party research tools (Trading Central, Autochartist); WellsTrade does not. Bitfinex maintains an archive of past webinars for on-demand viewing. Bitfinex scores higher overall in education and research.
| Feature | Bitfinex | WellsTrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Bitfinex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while WellsTrade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Bitfinex | WellsTrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Bitfinex and WellsTrade offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Bitfinex | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |