Forex Financial Services
WellsTrade
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Overview
Forex Financial Services was founded in 2008 and is headquartered in Australia, while WellsTrade was established in 2008 and is based in United States. Forex Financial Services holds licences including Australian Securities and investment Commission (ASIC), while WellsTrade is regulated by Unregulated among others. Forex Financial Services serves 10,000+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $2500 at Forex Financial Services and $30 at WellsTrade.
| Feature | Forex Financial Services | WellsTrade |
|---|---|---|
| Min. Deposit | $2500 | $30 |
| Regulation | Australian Securities and investment Commission (ASIC) | Unregulated |
| Founded | 2008 | 2008 |
| Country | Australia | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Forex Financial Services and WellsTrade, directly affecting your bottom line as a trader. Forex Financial Services has a lower barrier to entry with a minimum deposit of $2500 (vs $30 at WellsTrade). Neither broker charges withdrawal fees. Forex Financial Services charges deposit fees; WellsTrade does not. Overall, WellsTrade scores higher on fees in our assessment.
| Feature | Forex Financial Services | WellsTrade |
|---|---|---|
| Min. Deposit | $2500 | $30 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Forex Financial Services offers MT4, MT5, cTrader, while WellsTrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Forex Financial Services supports social and copy trading features, which WellsTrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Forex Financial Services | WellsTrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4 | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Forex Financial Services and WellsTrade compare. The two brokers are evenly matched on educational content.
| Feature | Forex Financial Services | WellsTrade |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Forex Financial Services 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 | Forex Financial Services | 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 Forex Financial Services 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 | Forex Financial Services | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |