Virtual Brokers
WellsTrade
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Overview
Virtual Brokers was founded in 2008 and is headquartered in Canada, while WellsTrade was established in 2008 and is based in United States. Virtual Brokers holds licences including The Investment Industry Regulatory Organization of Canada (IIROC), while WellsTrade is regulated by Unregulated among others. Virtual Brokers serves 10,000+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $1000 at Virtual Brokers and $30 at WellsTrade.
| Feature | Virtual Brokers | WellsTrade |
|---|---|---|
| Min. Deposit | $1000 | $30 |
| Regulation | The Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF) | Unregulated |
| Founded | 2008 | 2008 |
| Country | Canada | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Virtual Brokers and WellsTrade, directly affecting your bottom line as a trader. Virtual Brokers has a lower barrier to entry with a minimum deposit of $1000 (vs $30 at WellsTrade). Virtual Brokers charges withdrawal fees while WellsTrade does not, a notable advantage for frequent withdrawers. Virtual Brokers charges deposit fees; WellsTrade does not. Overall, WellsTrade scores higher on fees in our assessment.
| Feature | Virtual Brokers | WellsTrade |
|---|---|---|
| Min. Deposit | $1000 | $30 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Virtual Brokers offers MT4, MT5, cTrader, while WellsTrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Virtual Brokers supports social and copy trading features, which WellsTrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Virtual Brokers | 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,Desktop,iPhone/iOS | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Virtual Brokers and WellsTrade compare. Virtual Brokers runs regular live webinars; WellsTrade does not. Virtual Brokers has a video library; WellsTrade does not. Virtual Brokers publishes daily market commentary; WellsTrade does not. Virtual Brokers integrates third-party research tools (Trading Central, Autochartist); WellsTrade does not. Virtual Brokers maintains an archive of past webinars for on-demand viewing. Virtual Brokers scores higher overall in education and research.
| Feature | Virtual Brokers | 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. Virtual Brokers 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 | Virtual Brokers | 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 Virtual Brokers 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 | Virtual Brokers | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |