Commonwealth Securities
WellsTrade
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Overview
Commonwealth Securities was founded in 1999 and is headquartered in Australia, while WellsTrade was established in 2008 and is based in United States. Commonwealth Securities holds licences including Cyprus Securities and Exchange Commission (CySEC), while WellsTrade is regulated by Unregulated among others. Commonwealth Securities serves 10,000+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $5000 at Commonwealth Securities and $30 at WellsTrade.
| Feature | Commonwealth Securities | WellsTrade |
|---|---|---|
| Min. Deposit | $5000 | $30 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Unregulated |
| Founded | 1999 | 2008 |
| Country | Australia | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Commonwealth Securities and WellsTrade, directly affecting your bottom line as a trader. WellsTrade has a lower barrier to entry with a minimum deposit of $30 (vs $5000 at Commonwealth Securities). Neither broker charges withdrawal fees. Commonwealth Securities charges deposit fees; WellsTrade does not. Overall, WellsTrade scores higher on fees in our assessment.
| Feature | Commonwealth Securities | WellsTrade |
|---|---|---|
| Min. Deposit | $5000 | $30 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Commonwealth Securities offers MT4, MT5, cTrader, while WellsTrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Commonwealth Securities supports social and copy trading features, which WellsTrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Commonwealth Securities | WellsTrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Metatrader 4 - desktop, iOS and Android versions available. | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Commonwealth Securities and WellsTrade compare. Commonwealth Securities runs regular live webinars; WellsTrade does not. Commonwealth Securities has a video library; WellsTrade does not. Commonwealth Securities publishes daily market commentary; WellsTrade does not. Commonwealth Securities integrates third-party research tools (Trading Central); WellsTrade does not. Commonwealth Securities maintains an archive of past webinars for on-demand viewing. Commonwealth Securities scores higher overall in education and research.
| Feature | Commonwealth Securities | WellsTrade |
|---|---|---|
| Forex Education | No | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Commonwealth Securities 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 | Commonwealth Securities | 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 Commonwealth Securities 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 | Commonwealth Securities | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |