HKJSSHENGFX Forex Broker

Clever Trade Forex Broker - Complete Information Guide

1. Broker Overview

　　Clever Trade, operating under the name Berlly World Ltd, was established approximately 2 to 5 years ago. The company claims to be headquartered in Bremen, Germany, while its official registration is in the Marshall Islands, a known offshore jurisdiction. This raises concerns regarding its legitimacy and operational transparency. Clever Trade is a privately held entity that primarily serves retail clients looking to engage in forex and CFD trading.

　　The broker claims to offer access to a wide variety of financial instruments, including currency pairs, indices, commodities, and cryptocurrencies. However, the lack of a functional website and limited available information makes it challenging to verify these claims. The company has not made significant milestones public, which further obscures its operational history. Given its offshore registration, the business model appears to align more with typical retail forex trading rather than institutional services.

　　As a Clever Trade broker, it operates in a high-risk environment due to its non-regulated status, which is a significant factor for potential clients considering their trading options.

2. Regulatory and Compliance Information

　　Clever Trade is notably unregulated, operating without oversight from any recognized financial authority. The regulatory landscape for this broker is concerning, as it does not provide valid regulatory information. Thus, it lacks the necessary licenses that would typically be issued by reputable regulatory bodies such as the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities and Exchange Commission (CySEC).

　　The absence of regulatory oversight means that there are no guarantees regarding client fund protection. Clever Trade does not offer a client fund segregation policy, meaning that investor funds may not be kept in separate accounts. Additionally, there is no participation in an investor compensation scheme, which would provide some level of security in case of broker insolvency.

　　Due to its offshore registration in the Marshall Islands, Clever Trade is not bound by stringent KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, which are standard in more regulated jurisdictions. This lack of compliance raises further red flags for potential investors considering the Clever Trade broker.

3. Trading Products and Services

　　Clever Trade claims to offer a diverse range of trading products, although specific details are sparse due to the limited information available. The broker reportedly provides access to numerous forex currency pairs, including major, minor, and exotic pairs. However, the exact number of available pairs is not disclosed.

　　In addition to forex trading, Clever Trade is said to offer CFDs on various asset classes, including indices, commodities, stocks, and cryptocurrencies. The broker's marketing materials suggest a broad range of instruments, but the lack of a functional website limits access to up-to-date product offerings and updates.

　　Retail trading services appear to be the primary focus, with no clear indication of institutional services or white-label solutions. The absence of detailed product information and updates could hinder traders' ability to make informed decisions when using the Clever Trade broker.

4. Trading Platforms and Technology

　　Clever Trade provides its clients with the widely recognized MetaTrader 4 (MT4) platform for trading. MT4 is known for its user-friendly interface, advanced charting capabilities, and a variety of automated trading tools. The platform supports algorithmic trading and provides a robust back-testing environment for traders to test their strategies.

　　However, there is no mention of support for MetaTrader 5 (MT5) or any proprietary trading platform, which may limit the trading options available to clients. The broker's service model appears to be market-making, which can introduce conflicts of interest between the broker and its clients.

　　Clever Trade does not provide specific information regarding its server locations or technological infrastructure, which raises concerns about the reliability and speed of trade execution. Furthermore, there is no indication of API access or support for automated trading, which could be a drawback for more advanced traders seeking to use algorithmic strategies with the Clever Trade broker.

5. Account Types and Trading Conditions

　　Clever Trade offers several account types, including:

• Silver Account: Requires a minimum deposit of $1,500, with leverage up to 1:200 for forex trading.
• Gold Account: Requires a minimum deposit of $5,000, offering leverage up to 1:300 for forex.
• Platinum Account: Requires a minimum deposit of $15,000, allowing leverage up to 1:400.

　　The minimum trading lot size and overnight fees are not clearly specified, which can create uncertainty for traders. Additionally, the broker's policy regarding demo accounts is also unclear, making it difficult for potential clients to practice trading before committing real funds.

　　The trading conditions, such as spreads and commissions, are not disclosed, which is crucial information for traders evaluating the cost of trading with the Clever Trade broker.

6. Fund Management

　　Clever Trade reportedly supports various deposit methods, including bank transfers, credit cards, and e-wallets. However, specific details regarding the processing times for deposits and any associated fees are not provided.

　　The minimum deposit requirement of $1,500 is significantly higher than the industry average, which typically ranges around $100. This high entry point may deter potential clients from engaging with the broker.

　　Withdrawal methods and limitations are also not clearly outlined, leading to concerns about the ease of accessing funds. Reports suggest that withdrawal requests may face delays or complications, a common issue with unregulated brokers. The processing time for withdrawals is said to be within three days, but this is subject to verification.

　　Overall, the lack of transparency regarding fees and withdrawal policies raises significant concerns about the safety and accessibility of funds with the Clever Trade broker.

7. Customer Support and Educational Resources

　　Clever Trade offers limited customer support options, primarily through email at support@clever-trade.com. There is no phone support or live chat available, which can hinder timely communication for clients needing assistance.

　　The broker does not provide clear information on service hours or the languages supported, which could limit accessibility for non-English speaking clients. Educational resources appear to be minimal, with no mention of webinars, tutorials, or market analysis services available to clients.

　　The absence of comprehensive educational materials and market analysis tools could leave traders without the necessary support to enhance their trading skills and knowledge when using the Clever Trade broker.

8. Regional Coverage and Restrictions

　　Clever Trade claims to serve a global market, but specific details regarding its operational regions are not well-defined. The broker does not provide information on regional offices or any particular geographic focus.

　　However, it is essential to note that Clever Trade is not authorized to operate in several jurisdictions, including the UK, where it has been blacklisted by the FCA for operating without authorization. Potential clients from restricted countries should exercise caution, as engaging with an unregulated broker poses significant risks.

　　In summary, while Clever Trade markets itself as a global trading platform, the lack of regulatory oversight, transparency, and customer support raises substantial concerns for potential investors considering the Clever Trade broker.