ClickTrades Review: A scam Broker in Disguise of a Reliable Intermediary

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When first encountering ClickTrades, it becomes clear that the broker is an online trading platform. The company itself stresses that its services are client-oriented. For example, traders are provided with all the conditions, access to professional tools, extended resources, as well as support services. However, jumping ahead, we hasten to warn traders to be extremely careful not to contact this project - the company is suspected of fraud and deception of its customers. As noted by the former clients themselves in their reviews, as well as "say" the facts - this is a fraudulent company, which hides under the mask of a reliable broker. The conclusions were drawn from our objective review based on an in-depth inspection of this resource.

Read on, all the details and "discoveries" that we were able to make in the detailed study of the so-called broker, we set forth in our review to interrupt the series of frauds on investors if possible, and to reduce the risks of cooperation with scammers for online traders who make only their first steps in the field of exchange transactions.

Types of trading accounts offered by ClickTrades

ClickTrades offers several types of trading accounts, each with different packaged offerings.

ClickTrades Review: A scam Broker in Disguise of a Reliable Intermediary review

According to the official ClickTrades website, there are three packages available. This is the "Basic" trading account, which provides for a minimum deposit of $1,000. For those considering the "Standard" trading account, the minimum cost of "entry" for the client will cost from $5,000. As for the trading account called "Premium", the client must make a minimum deposit of $25,000. 

The site also gives customers the opportunity to open a demo account.

Compared to similar companies where the minimum deposit is $100-250, ClickTrades requires an excessively high minimum deposit of $1000. For example, reliable intermediaries with high reputation, like FBS and IG, invite traders to their ranks, providing the opportunity to open a trading account for just $5.

For example, for newbies in trading that have high chances to make a mistake and lose everything, $1000 is too high a level. Such an amount is alarming and suggests that this so-called broker is only interested in getting the initial deposit, not in allowing the clients to stay on the platform longer. 

Let's see what other trading conditions this brand has prepared on its platform. 

ClickTrades Trading conditions

To start working with the broker, the user must become an authorized client, i.e. fill out a registration form. It's easy: the button "register", enter your personal data in the fields of the registration form (email address, contact cell phone number, come up with a password to access your page). Additionally, you must choose the desired account currency.  

People from different countries can work with the platform (except Canada, Japan and USA), not only those who understand English.

ClickTrades Review: A scam Broker in Disguise of a Reliable Intermediary news

As stated on the website, trading on Webtrader is available to already authorized clients. To be more precise, clients are given an opportunity to execute trades using such trading platforms as Webtrader and MT5. 

As for MetaTrader4, this web-platform is not supported at this trading platform, which is strange, because it is the most popular trading platform in the market, which gives the opportunity to use a variety of market indicators, advanced tools for plotting charts, etc., with which the trader easily manages to run an automatic trading session. 

At the same time, even the web-trader that ClickTrades offers few people are able to try out on their own, because the demo account is probably not open to everyone or it just doesn't work.

In parallel, traders can get acquainted with daily market overviews. 

ClickTrades offers CFDs on a wide range of assets, including currency pairs, indices, bonds, exchange-traded funds, stocks, ETFs, the most popular precious metals (silver, gold), energy (oil, natural gas), and other commodities, including cryptocurrencies.

When it comes to currency pairs, the choice at this so-called broker is quite wide - more than 55 basic, additional and so-called exotic ones.

ClickTrades accepted payment methods in a variety of ways. (VISA, MasterCard, Neteller and Skrill), it is also possible to deposit via wire transfer. 

As for bitcoins, this platform does not accept cryptocurrencies.

Spreads on this platform are quite high, if you remember the standard account offered and the inflated requirements for the amount of the minimum deposit. Their level starts at 1.8 - 1.9 pips. This is much higher than what is customary in this field of trading.

Leverage is specified up to 1: 300. As a rule, the unlicensed companies or offshore brokers work at this ratio, such as the protagonist of our review.

Click Trades Licenses

In fact, the site has a section Legal Documents. But the section does not contain licenses or any certificates on financial activity which would interest us as potential clients. 

According to ClickTrades itself, the site belongs to KW Investments Limited. According to the data in the footer of the site, the jurisdiction of this company is the Seychelles with SFSA as the regulator. If the writing is to be believed, this parent company even has a license issued by the Seychelles Financial Services Authority.

As its registered address, the company provides the following details: Suite 3, Global Village, Jivan's Complex, Mont Fleuri, Mahe Seychelles.

The creators of this brokerage project do not indicate on their website the exact date of the start of the market or at least the moment of the company's foundation. 

Again we see in the footer of the site that the site was registered in 2021. 

Let's check what the history of the domain, which is located on the site slicktrades.com, will tell us. There is minimal information, but it was found out that the name was registered in October 2020.

ClickTrades is owned by Key Way Solutions Ltd, a company located in Cyprus, but managed by KW Investments Limited, which is registered in the Seychelles. Summarizing the information we get the following information: ClickTrades is an offshore Forex and CFD broker, managed by two related companies, one of which (again according to the broker itself) is located in the Seychelles and the other in Cyprus. However, neither company is licensed by Cyprus Securities and Exchange Commission (CySEC), including any other financial regulators in the EU.

The broker claims to be licensed by a regulator in the Seychelles, but not in Cyprus or anywhere else in the EU, as he also tells us. A check on the regulator's website confirms that the parent company is licensed, not the brokerage itself.

Nevertheless, the regulator in the Seychelles does not have a very high reputation, as do all the brokerage companies that have anything to do with it. 

In general, it can be noted that the company has not quite adequate regulation, which has been repeatedly noted by former clients of the company as well. 

This means that ClickTrades broker has no legal right to offer services to European citizens.

This is important because, as we have written above, ClickTrades says that the platform does not accept residents of Japan, Canada and the U.S., but not a word about the EU citizens, where the market is very strictly regulated and no offshore brokers can offer financial services without a license.

ClickTrades Reviews online

If you disregard custom articles and reviews paid for or written by the company itself, there are a lot of negative reviews online. 

People are outraged by their experience with this project and they say that they are typical fraudsters who are simply impossible to deal with.

There is no question of a refund, deceived customers are trying to somehow get their money back, but attempts stretch over weeks and months, and there is no chance that there will be a result.

The broker is not regulated, it is indicated that there is a license from the parent company, but it is authorized offshore. Moreover, there is no data that indicates a connection between ClickTrades and the so-called parent company - all this is an unsubstantiated word from the swindlers. 

That's why traders have no chance to get the truth and get their money back. 

In order not to join the ranks of defrauded investors, it is best to entrust their capital to proven brokers with a positive reputation.

Otherwise, the trader condemns himself to financial loss, and this requires a lot of money - only the minimum initial deposit of $ 1000.

Safety and security of funds with ClickTrades  

Acting as a market maker (as the so-called ClickTrades broker himself states in his pamphlet), the company explains its true motives: to profit from clients' losses.

When the broker is regulated, this practice is not krisis for the client. However in the case of unlicensed ClickTrades, clients' money is simply drained and there are almost no opportunities to withdraw.

Summary 

ClickTrades is a fraudulent project which operates without a license, provides false information on its website, has unacceptably high minimum deposit requirements, offers very high spreads and does not withdraw money for its traders.

It is financially dangerous to work with ClickTrades, and opening an account on their platform is highly and definitely not recommended at all. Offering cheating conditions and deliberate lies to their potential customers, this scam company, registered offshore, positioning itself as a world-renowned reliable financial company.  

Do not mess with scam artists if you want to save money!

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