Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information ClickTrades Review Summary in 10 Points Founded 2018 Registered Country/Region Cyprus Regulation FSA (offshore regulatory) Market Instruments Forex, shares, commodities, bonds, ETFs, indices and cryptocurrencies Demo Account Available Leverage 1:300 EUR/USD Spread Floating around 2 pips Trading Platforms WebTrader, MT5 Minimum deposit $1,000 Customer Support Live chat, phone, email What is ClickTrades？ ClickTrades is an online trading broker that offers access to a wide range of financial instruments, including Forex, shares, commodities, indices, bonds, ETFs, and cryptocurrencies through WebTrader and MT5 trading platforms. However, it's important to note that ClickTrades is an unregulated broker, which means it does not have oversight from a recognized financial regulatory authority. In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance. Pros & Cons When considering ClickTrades, it's essential to weigh the pros and cons. On the positive side, ClickTrades offers a wide range of financial instruments, a user-friendly platform, educational resources, and multiple payment options. However, there are significant drawbacks to consider, such as the lack of regulation, reports of withdrawal issues, and limited information on deposit/withdrawal. These concerns can impact investor confidence and raise questions about the platform's trustworthiness. Traders should carefully evaluate these factors and conduct thorough research before deciding to trade with ClickTrades. Pros Cons • Wide range of trading instruments • Offshore regulatory license • Demo accounts available • Complaints of unable to withdraw and scams • MT5 supported • Residents of Japan, Canada and the USA are excluded • Multiple payment options • Limited info on deposit/withdrawal details • Rich educational resources • Multi-channel and multilingual support ClickTrades Alternative Brokers There are many alternative brokers to ClickTrades depending on the specific needs and preferences of the trader. Some popular options include: OANDA - A reputable broker with a strong reputation, offering a wide range of trading instruments and advanced trading platforms. City Index - A well-established broker known for its comprehensive market coverage and user-friendly trading platforms. Axi - A reliable broker offering competitive trading conditions, diverse markets, and access to cutting-edge trading technology. Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs. Is ClickTrades Safe or Scam？ ClickTrades holding an offshore Seychelles Financial Services Authority (FSA, License No. SD020) license raises concerns about its safety and legitimacy as a brokerage. Offshore regulatory authorities generally have less stringent requirements compared to reputable financial regulators. Traders should exercise caution when dealing with unregulated brokers as there may be increased risks involved, including potential scams and fraudulent activities. It is recommended to consider regulated brokers that operate under reputable financial authorities for better investor protection and security of funds. Market Instruments ClickTrades provides a diverse range of trading instruments to cater to the needs of different investors. Traders can access various markets through ClickTrades, including Forex, where they can trade major, minor, and exotic currency pairs. Additionally, ClickTrades offers shares, allowing investors to participate in the stock market by trading popular company stocks. The platform also supports trading in commodities, such as gold, silver, oil, and other precious metals and energy resources. Furthermore, ClickTrades provides access to trading bonds, ETFs (Exchange-Traded Funds), indices, and cryptocurrencies, allowing traders to diversify their portfolios and explore different investment opportunities within a single platform. This wide selection of trading instruments provides flexibility and potential for profit in different market conditions. Accounts ClickTrades offers both demo and live accounts to cater to different trading needs and experience levels. Demo Account: ClickTrades provides a demo account that allows you to try out the financial markets without the risk of losing money. This is particularly beneficial for beginners who are still learning and developing their trading strategies. Live Account: ClickTrades offers a total of 3 account types: Essential, Original, and Signature, with minimum deposit requirement of $1,000, $5,000 and $25,000 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, a essential account will be the most suitable option for you. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions. Leverage ClickTrades offers leverage of up to 1:300, allowing traders to amplify their trading positions and potentially increase their profit potential. Leverage is a common feature in Forex and CFD trading that enables traders to trade larger positions with a smaller amount of capital. With a leverage ratio of 1:300, traders can control a position that is 300 times larger than their actual invested capital. While leverage can enhance potential profits, it's important to note that it also increases the level of risk. Higher leverage means that even small price movements can have a significant impact on the trading account. Traders should exercise caution and implement appropriate risk management strategies when using leverage to ensure that potential losses are controlled. Spreads & Commissions ClickTrades offers competitive spreads on various trading instruments, including a floating spread of around 2.0 pips for the popular EUR/USD currency pair. Spreads refer to the difference between the buying and selling price of an instrument, and they represent the cost of trading. Lower spreads generally indicate better trading conditions and can lead to lower trading costs for traders. ClickTrades does not charge any commissions on trades, which means that traders only need to consider the spreads when calculating their trading costs. This can be advantageous for traders, as it eliminates additional fees that can impact profitability. It's worth noting that spreads may vary across different trading instruments and market conditions. Traders are advised to refer to the provided screenshot or consult ClickTrades' official website for detailed information on spreads for specific instruments. Below is a comparison table about spreads and commissions charged by different brokers: Broker EUR/USD Spread Commission ClickTrades 2.0 pips No commission OANDA 0.9 pips No commission City Index 0.5 pips No commission Axi 0.2 pips Commission-based model Please note that the spread and commission values provided here are for reference purposes only and may vary depending on market conditions and account types. It's always recommended to check the latest information directly from the broker's website or contact their customer support for accurate and up-to-date details. Trading Platforms The trading platforms provided by ClickTrades are WebTrader and MT5. The WebTrader platform is a browser-based platform that allows traders to access their accounts and trade directly from their web browsers without the need to download or install any software. It offers a wide range of features and tools for effective trading, including real-time price charts, advanced order types, technical analysis indicators, and risk management tools. With WebTrader, traders can access their accounts and trade from any device with an internet connection. In addition to WebTrader, ClickTrades also supports the popular MT5 platform. MetaTrader 5 is a widely used trading platform known for its extensive functionality and versatility. It offers a comprehensive set of features, including advanced charting capabilities, automated trading through Expert Advisors (EAs), a wide range of technical indicators, and a user-friendly interface. MT5 is highly customizable, allowing traders to personalize their trading experience according to their preferences. By offering both WebTrader and MT5, ClickTrades caters to the diverse needs of traders, whether they prefer a web-based platform or a feature-rich desktop application. Both platforms provide reliable and efficient trading environments, enabling traders to analyze markets, execute trades, and manage their portfolios effectively. See the trading platform comparison table below: Broker Trading Platforms ClickTrades WebTrader, MT5 OANDA OANDA Trade, MT4, MT5 City Index Advantage Web, AT Pro Axi MetaTrader 4, MetaTrader 5, AxiOne Deposits & Withdrawals ClickTrades offers a variety of payment methods for both deposits and withdrawals. Traders can choose from options such as bank transfers, credit/debit cards (Visa, MasterCard, Maestro), e-wallets like Neteller and Skrill, as well as some other local payment methods that may vary depending on the trader's country of residence. ClickTrades minimum deposit vs other brokers ClickTrades Most other Minimum Deposit $1,000 $100 However, ClickTrades only provides information about the available payment methods, specific details such as additional fees, minimum deposit/withdrawal amounts, and processing times are not readily provided on their website. Therefore, it is advisable for traders to contact ClickTrades directly or refer to their terms and conditions to obtain accurate and up-to-date information regarding the deposit and withdrawal procedures. Customer Service Below are the details about ClickTrades customer service. Languages: English, Spanish, Arabic, Bahasa Indonesia, Vietnamese, Russian, Indian Live chat Phone: +507 838 8578, +965 22 06 89 97 Email: support@clicktrades.com Address: Suite 3, Global Village, Jivans Complex, Mont Fleuri, Mahe Seychelles Partner company is Key Way Solutions Ltd, Head Office Address: 1st Floor, Hadjikyriakeion Bld. 1121 Prodromou Avenue, Strovol, Nicosia, 2064, Cyprus FAQ section is also available. You can also follow this broker on some social networks including Twitter, Facebook and Instagram. Overall, ClickTrades aims to provide responsive and accessible customer service to assist traders throughout their trading journey. Pros Cons • Multi-channel and multilingual support • No 24/7 customer support Live chat support • FAQ section for quick answers to common queries • Dedicated social media presence • Company address openly disclosed Note: These pros and cons are subjective and may vary depending on the individual's experience with ClickTrades' customer service. User Exposure on WikiFX On our website, you can see that some reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you. Education A series of educational resources is available at ClickTrades, such as news updates, an economic calendar, and a financial dictionary. The news section provides timely market updates and analysis, helping traders stay informed about the latest developments that may impact their trading decisions. The economic calendar highlights key economic events and their expected impact on the markets, allowing traders to plan their strategies accordingly. Additionally, ClickTrades' financial dictionary serves as a valuable tool for traders to familiarize themselves with essential financial terms and concepts. These educational resources can be beneficial for both novice and experienced traders, providing them with the necessary information to make informed trading decisions. Conclusion In conclusion, ClickTrades is an online trading platform that offers a variety of financial instruments and features. While the platform provides access to diverse markets and offers competitive leverage, there are notable concerns that must be considered. The lack of regulation and reports of withdrawal difficulties raise doubts about the safety and reliability of ClickTrades. Traders are advised to exercise caution and conduct thorough research before engaging with this platform. It is crucial to carefully evaluate the risks and potential drawbacks associated with trading on an unregulated platform. Frequently Asked Questions (FAQs) Q 1: Is ClickTrades regulated？ A 1: No. ClickTrades Seychelles Financial Services Authority (FSA, License No. SD020) is offshore regulatory. Q 2: At ClickTrades, are there any regional restrictions for traders？ A 2: Yes. ClickTrades does not establish accounts to residents of certain jurisdictions including Japan, Canada and the USA. Q 3: Does ClickTrades offer demo accounts？ A 3: Yes. Q 4: Does ClickTrades offer the industry leading MT4 & MT5？ A 4: Yes. It supports WebTrader and MT5. Q 5: What is the minimum deposit for ClickTrades？ A 5: The minimum initial deposit to open an account is $1,000. Q 6: Is ClickTrades a good broker for beginners？ A 6: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its negative reviews and high minimum deposit requirement.