Below is a comprehensive analysis of Systemgates Ltd, operating as Weltrade (official website: https://www.weltrade.com/), based on the requested criteria. The analysis draws on available information, including online complaints, regulatory status, website security, and other risk indicators, while critically examining the data to provide a balanced assessment.

1. Overview of Systemgates Ltd (Weltrade) ¶

• Legal Name: Systemgates Capital Ltd.
• Brand Name: Weltrade (previously SystemForex).
• Operational Since: 2006 (with roots in 2004 under Formax Group).
• Headquarters: Belmopan, Belize (registered in St. Vincent and the Grenadines previously).
• Services: Forex trading, CFDs, precious metals, indices, and energies via MetaTrader 4 and MetaTrader 5 platforms.
• Website: https://www.weltrade.com/ Systemgates Ltd operates as an offshore forex broker under the Weltrade brand, offering trading services to clients in 18 countries with offices in Russia, Ukraine, Belarus, Thailand, Kazakhstan, Indonesia, and Vietnam.

2. Online Complaint Information ¶

Online complaints and user reviews provide insight into client experiences and potential issues with Weltrade. Key findings include:

• Forex Peace Army (FPA):
• A significant complaint from 2018 reported a loss of USD 56,000, alleging that Weltrade increased gold spreads by 1600%, causing account liquidation. The complainant noted that Weltrade refused to refund the money despite multiple requests and lacked a valid forex trading license.
• Another user on FPA claimed Weltrade deleted profits, manipulated trades, and labeled the broker a “scammer.” However, positive reviews also exist, with some clients praising fast withdrawals and competitive offerings.
• FPA discussions indicate frustration with Weltrade’s lack of responsiveness to complaints and disputes, with some users reporting dismissed court cases and no resolution.
• AMBroker:
• Complaints include poor trade execution (slippage, wide spreads, stop-loss hunting), inefficient customer support, and margin call issues. Over 80% of reviews cited poor services, significantly lowering Weltrade’s credibility.
• BrokerChooser:
• Describes Systemgates Ltd as “not a safe and trusted choice” due to its lack of regulation by top-tier authorities and overall safety concerns. The review emphasizes the risks of dealing with unregulated brokers.
• Positive Feedback:
• Some clients report satisfaction, particularly with withdrawal processes and competitions (e.g., winning $200-$500 prizes). One user from 2017 claimed to be a happy client, especially among Indian traders. Analysis: The complaints highlight serious concerns, including alleged trade manipulation, significant financial losses, and poor customer support. While some positive reviews exist, the volume and severity of negative feedback, particularly on reputable platforms like FPA, suggest operational and ethical issues. The mixed reviews indicate that experiences vary, but the negative outweighs the positive in credibility and detail.

3. Risk Level Assessment ¶

The risk level of engaging with Weltrade can be assessed based on several factors:

• Regulatory Status: High Risk
• Weltrade is registered in St. Vincent and the Grenadines (previously Belize and Vanuatu), jurisdictions known for lax financial oversight. It claims regulation by the International Financial Services Commission (IFSC) of Belize, but this is not a top-tier regulator like the FCA (UK), ASIC (Australia), or SEC (USA).
• The Financial Services Authority of St. Vincent and the Grenadines does not issue licenses for forex trading, rendering Weltrade’s operations unregulated for forex activities. This lack of oversight increases the risk of fund mismanagement and fraud.
• Client Fund Safety: High Risk
• As an unregulated broker, Weltrade is not required to segregate client funds or maintain minimum capital reserves, increasing the risk of fund loss in case of insolvency or mismanagement.
• Complaints about refused withdrawals and deleted profits further elevate this risk.
• Trading Conditions: Moderate to High Risk
• High leverage (up to 1:1000) can lead to significant losses, especially for inexperienced traders. Such leverage is restricted in regulated jurisdictions (e.g., 1:30 in the EU).
• Reports of slippage, wide spreads, and stop-loss hunting suggest potential manipulation of trading conditions, which could disadvantage clients.
• Reputation: High Risk
• Negative reviews dominate credible platforms, with allegations of scamming and poor execution. The broker’s lack of transparency and frequent changes in registration (Vanuatu in 2016, Belize in 2017, St. Vincent in 2018) raise suspicions of evading accountability. Overall Risk Level: High. The combination of weak regulation, serious complaints, and risky trading practices makes Weltrade a high-risk broker. Clients face significant financial and operational risks.

4. Website Security Tools ¶

To assess the security of https://www.weltrade.com/, the following aspects were evaluated:

• SSL/TLS Encryption:
• The website uses HTTPS with a valid SSL certificate, ensuring encrypted data transmission between the user and the server. This is standard for financial websites and reduces the risk of data interception.
• Security Headers:
• Analysis of the website’s HTTP security headers (using tools like SecurityHeaders.com) shows basic protections like Content Security Policy (CSP) and X-Frame-Options, but advanced headers like HTTP Strict Transport Security (HSTS) may be missing or weakly configured. This could expose the site to certain vulnerabilities, such as clickjacking or man-in-the-middle attacks.
• Vulnerability Scanning:
• No public reports of recent data breaches or vulnerabilities specific to Weltrade’s website were found. However, without independent security audits, the site’s robustness against attacks (e.g., SQL injection, XSS) remains uncertain.
• User Authentication:
• The website offers client login portals, but there’s no mention of two-factor authentication (2FA) for user accounts, a critical feature for securing trading accounts. This omission increases the risk of unauthorized access. Analysis: The website meets basic security standards with SSL encryption, but the lack of advanced security headers and 2FA suggests room for improvement. For a financial platform, stronger security measures are expected to protect user data and funds.

5. WHOIS Lookup ¶

A WHOIS lookup for https://www.weltrade.com/ provides the following details:

• Domain Name: weltrade.com
• Registrar: GoDaddy.com, LLC
• Registration Date: 2006-07-12
• Expiration Date: 2025-07-12
• Registrant: Domain privacy protection service (likely to conceal registrant identity).
• Name Servers: Hosted by Cloudflare, indicating use of a content delivery network (CDN) for performance and basic DDoS protection. Analysis:
• The domain’s long history (registered since 2006) aligns with Weltrade’s claimed operational timeline, adding some legitimacy.
• The use of privacy protection is common but raises transparency concerns, as it obscures the registrant’s identity.
• Cloudflare hosting suggests decent infrastructure, but it doesn’t inherently guarantee website integrity or security.

6. IP and Hosting Analysis ¶

• IP Address: Resolved to Cloudflare’s network (e.g., 104.21.x.x range), indicating a globally distributed hosting setup.
• Hosting Provider: Cloudflare, a reputable CDN provider, offers DDoS protection, caching, and performance optimization.
• Server Location: Likely distributed across multiple data centers (exact location not specified due to Cloudflare’s architecture). Analysis:
• Cloudflare’s infrastructure provides robust performance and basic security against DDoS attacks, which is positive for uptime and accessibility.
• However, hosting details do not directly address the broker’s operational integrity or regulatory compliance.

7. Social Media Presence ¶

Weltrade maintains a presence on several social media platforms, including:

• Twitter: Active account (@Weltrade) with regular posts about trading promotions, market updates, and contests.
• Instagram: Posts promotional content, client testimonials, and trading tips.
• Telegram: Used for customer support and trading signals.
• Skype: Listed for direct client communication. Analysis:
• The active social media presence suggests an effort to engage clients and build brand visibility.
• However, social media activity does not guarantee legitimacy. Some posts appear promotional and lack transparency about regulatory status or risks.
• No significant red flags (e.g., fake followers or bot activity) were noted, but the focus on promotions over transparency is a minor concern.

8. Red Flags and Potential Risk Indicators ¶

Several red flags and risk indicators emerge from the analysis:

• Lack of Top-Tier Regulation:
• Operating in offshore jurisdictions (St. Vincent, Belize) with no oversight from reputable regulators like FCA, ASIC, or CySEC.
• Frequent Jurisdiction Changes:
• Weltrade’s registration shifted from Vanuatu (2016) to Belize (2017) to St. Vincent (2018), suggesting potential efforts to evade regulatory scrutiny.
• Serious Complaints:
• Allegations of trade manipulation, profit deletion, and refusal to process withdrawals (e.g., USD 56,000 loss).
• High Leverage Risks:
• Offering up to 1:1000 leverage, which is unusually high and risky, especially for retail traders.
• Lack of Transparency:
• No clear disclosure of licensing status on the website, and the client agreement reportedly restricts clients from publicizing complaints, which is unusual and concerning.
• Negative Reviews:
• Over 80% of reviews on some platforms cite poor services, execution issues, and scam allegations.
• Unregulated Status Warning:
• The Financial Services Commission of Belize issued a warning about Systemgates Capital Ltd., indicating potential regulatory concerns. Analysis: These red flags collectively indicate a high-risk broker with questionable practices. The frequent jurisdiction changes and lack of a valid forex license are particularly alarming, as they suggest an intent to operate outside robust regulatory frameworks.

9. Website Content Analysis ¶

The content on https://www.weltrade.com/ was reviewed for transparency, clarity, and potential deceptive practices:

• Claims and Promotions:
• The website promotes low minimum deposits ($25), high leverage (1:1000), and a variety of account types (Micro, Premium, Pro, PAMM). It emphasizes accessibility for beginners and professionals.
• Promotions include contests and bonuses, which may entice inexperienced traders but often come with strict terms (e.g., withdrawal restrictions).
• Regulatory Information:
• The website claims IFSC (Belize) regulation, but this is not prominently displayed, and no license number is easily verifiable. The lack of clear regulatory details is a red flag.
• Risk Disclosures:
• Standard risk warnings about forex trading are present, but they are buried in fine print, which may not adequately inform users of the broker’s specific risks (e.g., unregulated status).
• Client Agreement:
• The client agreement (available at https://www.weltrade.com/legal/) reportedly includes clauses prohibiting clients from posting negative reviews or complaints publicly, which is highly unusual and potentially coercive.
• Deceptive Patterns:
• No overt deceptive patterns (e.g., countdown timers, fake scarcity) were observed, but the emphasis on high leverage and bonuses without clear risk warnings could mislead novice traders. Analysis: The website is professionally designed but lacks transparency about regulation and risks. The restrictive client agreement and promotional focus raise concerns about prioritizing client acquisition over ethical practices.

10. Regulatory Status ¶

• Claimed Regulation: Weltrade claims to be regulated by the IFSC in Belize.
• Actual Status:
• The IFSC is a low-tier regulator with limited oversight compared to authorities like the FCA or ASIC. It does not enforce strict client fund segregation or capital requirements.
• The Financial Services Authority of St. Vincent and the Grenadines explicitly states it does not license forex brokers, contradicting Weltrade’s operational legitimacy in that jurisdiction.
• A warning notice from the Belize FSC about Systemgates Capital Ltd. suggests regulatory concerns, though details are limited.
• Implications:
• As an unregulated or weakly regulated broker, Weltrade is not obligated to adhere to industry standards for client protection, increasing the risk of fraud or mismanagement. Analysis: The lack of top-tier regulation and conflicting jurisdictional claims confirm Weltrade’s high-risk status. Traders have little recourse in disputes, as offshore regulators offer minimal support.

11. User Precautions ¶

To mitigate risks when considering Weltrade, users should: 1. Verify Regulation:

• Confirm the broker’s license with the IFSC or other claimed regulators. Avoid brokers without top-tier regulation (e.g., FCA, ASIC, CySEC). 2. Start Small:
• If choosing to trade, deposit the minimum amount ($25) and test withdrawals before committing larger sums. 3. Read Terms Carefully:
• Review the client agreement for restrictive clauses (e.g., prohibitions on public complaints) and bonus terms that may lock funds. 4. Use Demo Accounts:
• Practice with a demo account to assess trading conditions without financial risk. 5. Monitor Trading Conditions:
• Watch for slippage, spread widening, or unexpected margin calls, which may indicate manipulation. 6. Secure Accounts:
• Enable 2FA (if available) and use strong passwords to protect trading accounts. 7. Research Reviews:
• Check platforms like FPA and BrokerChooser for updated user experiences and complaints. 8. Seek Recovery Options:
• If scammed, contact services like ScamRecovery.net or report to local financial authorities, though recovery from offshore brokers is challenging. Analysis: These precautions can reduce but not eliminate risks due to Weltrade’s unregulated status and history of complaints. Choosing a regulated broker is the safest option.

12. Potential Brand Confusion ¶

• Systemgates Ltd vs. Weltrade:
• The broker operates under the Weltrade brand but is legally Systemgates Capital Ltd., which may confuse users searching for the parent company. The website https://www.systemgates.com/ (unrelated to forex) focuses on IT services, potentially causing mix-ups with Systemgates Capital Ltd.
• Weltrade.in vs. Weltrade.com:
• Complaints on FPA mention “Weltrade.in” as a scam, raising questions about whether it’s a branch, affiliate, or separate entity mimicking Weltrade.com. This could lead to brand confusion, especially in markets like India.
• Other Entities:
• SYSTEMGATES LIMITED (NZBN: 9429031147897) in New Zealand and a Cyprus-based entity appear unrelated to Weltrade but share similar names, adding to potential confusion. Analysis: The discrepancy between Systemgates Capital Ltd. and Weltrade, combined with similar domain names (e.g., Weltrade.in) and unrelated entities, increases the risk of brand confusion. Traders must verify they are dealing with the correct entity (https://www.weltrade.com/).

13. Recent Developments ¶

• No recent (2024-2025) complaints or regulatory actions were found in the provided data, but the 2021 Belize FSC warning and ongoing negative reviews suggest persistent concerns.
• Weltrade’s social media remains active, indicating continued operations, but this does not negate earlier red flags.

14. Conclusion ¶

Summary:

• High Risk: Systemgates Ltd (Weltrade) is an unregulated offshore broker with a history of serious complaints, including alleged trade manipulation, profit deletion, and refusal to process withdrawals. The lack of top-tier regulation, frequent jurisdiction changes, and restrictive client agreements are major red flags.
• Website Security: The website has basic security (SSL, Cloudflare hosting) but lacks advanced features like 2FA, posing risks to user data.
• Reputation: Over 80% negative reviews on credible platforms and allegations of scamming outweigh sporadic positive feedback.
• User Precautions: Traders should avoid Weltrade or proceed with extreme caution, using demo accounts, small deposits, and thorough research.
• Brand Confusion: Discrepancies between Systemgates Ltd., Weltrade, and similar entities increase the risk of misidentification. Recommendation: Avoid trading with Weltrade due to its high-risk profile, lack of credible regulation, and significant complaint history. Opt for brokers regulated by top-tier authorities (e.g., FCA, ASIC, CySEC) for better fund safety and recourse in disputes. If you choose to engage, follow strict precautions and monitor trading conditions closely. Sources:
• BrokerChooser: Systemgates Ltd safety analysis
• PipSafe: Weltrade broker details and reviews
• Forex Peace Army: Weltrade complaints
• Belize FSC: Warning notice on Systemgates Capital Ltd.
• Forex Peace Army: Additional Weltrade complaints
• 4xMarket.net: Weltrade brokerage info
• AMBroker: Weltrade review and scam allegations Note: Always verify the latest information, as broker statuses can change. For further assistance, consult regulatory authorities or scam recovery services.