ForexTB
WellsTrade
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Overview
ForexTB was founded in 2015 and is headquartered in Cyprus, while WellsTrade was established in 2008 and is based in United States. ForexTB holds licences including Cyprus Securities and Exchange Commission (CySEC), while WellsTrade is regulated by Unregulated among others. ForexTB serves 5,000+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $250 at ForexTB and $30 at WellsTrade.
| Feature | ForexTB | WellsTrade |
|---|---|---|
| Min. Deposit | $250 | $30 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC), CIF license number 272/15 | Unregulated |
| Founded | 2015 | 2008 |
| Country | Cyprus | United States |
| Clients | 5,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between ForexTB and WellsTrade, directly affecting your bottom line as a trader. ForexTB has a lower barrier to entry with a minimum deposit of $250 (vs $30 at WellsTrade). Neither broker charges withdrawal fees. Overall, WellsTrade scores higher on fees in our assessment.
| Feature | ForexTB | WellsTrade |
|---|---|---|
| Min. Deposit | $250 | $30 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
ForexTB offers MT4, MT5, cTrader, while WellsTrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | ForexTB | 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, Web Trader, Tablet & Mobile apps | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how ForexTB and WellsTrade compare. ForexTB runs regular live webinars; WellsTrade does not. ForexTB has a video library; WellsTrade does not. ForexTB publishes daily market commentary; WellsTrade does not. ForexTB integrates third-party research tools (Trading Central); WellsTrade does not. ForexTB maintains an archive of past webinars for on-demand viewing. ForexTB scores higher overall in education and research.
| Feature | ForexTB | 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. ForexTB 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 | ForexTB | 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 ForexTB 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 | ForexTB | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |