Information
Trade Forex Review: ClickTrades – A Comprehensive Analysis
Introduction to ClickTrades
ClickTrades is a Forex broker that entered the market in 2018, with its headquarters based in Cyprus and an offshore branch in the Seychelles. This broker caters to traders worldwide, with the exception of Japan, Canada, the USA, and a few other restricted countries. In this review, we will delve into the key aspects of ClickTrades, including regulation, leverage, trading instruments, account types, deposit options, and overall pros and cons.
Regulatory Status of ClickTrades
ClickTrades operates under two separate entities:
-
Key Way Solutions Ltd: Located in Cyprus and regulated by the Securities and Exchange Commission (CySEC). This regulation is vital for traders from the European Union as it enforces a maximum leverage of 1:30 for them, adhering to ESMA rules.
-
KW Investments Limited: Situated in Seychelles and regulated by the Seychelles Financial Services Authority (SFSA). International traders who open accounts in this jurisdiction can enjoy a much higher leverage of up to 1:300 for major currency pairs.
Diverse Trading Instruments
One of the notable strengths of ClickTrades is its extensive range of trading instruments. Traders have access to:
- More than 50 currency pairs
- Approximately 2,000 stocks
- 50 ETFs (Exchange-Traded Funds)
- 18 stock indexes
- 20 commodities
- 18 popular cryptocurrencies
Furthermore, ClickTrades offers tools for IPO trading, making it stand out among Forex brokers with a comprehensive set of trading tools.
Available Trading Platforms
Traders at ClickTrades can utilize two trading platforms:
- MT5 (MetaTrader 5)
- WebTrader
These platforms are known for their user-friendly interfaces and powerful tools, suitable for both beginners and experienced traders.
Account Types at ClickTrades
ClickTrades offers three distinct types of trading accounts to cater to various trading experience levels:
- Essential Account: Designed for novice traders with a minimum deposit requirement of $1,000.
- Original Account: Tailored for advanced traders, requiring a minimum deposit of $5,000.
- Signature Account: Geared towards experienced traders, this account mandates a minimum deposit of $25,000 and offers VIP services.
All ClickTrades accounts are structured with both fixed and floating spreads and do not charge any fees. For reference, the average spread for the EURUSD currency pair is approximately 1.8 pips. Additionally, Islamic accounts without swaps are available for Muslim traders.
Minimum Deposit and Deposit Methods
The minimum deposit required to open an account with ClickTrades is $1,000. Traders have a variety of deposit methods to choose from, including:
- Bank transfer
- Visa/MasterCard credit and debit cards
- Skrill
- Neteller
- WebMoney
- Sofort
- Giropay e-wallets
- Bitcoin, Litecoin, and Ethereum cryptocurrencies via the Ecommpay service
It’s important to note that inactive accounts, i.e., those without any transactions for three months, are subject to a $30 monthly fee, provided there are funds available.
Pros and Cons of ClickTrades
Let’s summarize the advantages and disadvantages of trading with ClickTrades:
Advantages:
- Regulated by CySEC and SFSA, providing a level of security and transparency.
- A vast selection of trading instruments, including stocks, ETFs, and cryptocurrencies.
- Availability of cryptocurrency deposits, catering to modern traders.
- User-friendly trading platforms, MT5 and WebTrader.
Disadvantages:
- Relatively high minimum deposit requirements.
- Fixed and floating spreads may not be as competitive as some other brokers.
- Lack of ECN (Electronic Communication Network) accounts.
Conclusion
In conclusion, ClickTrades is an STP (Straight Through Processing) broker regulated by CySEC in Cyprus and SFSA in Seychelles. Its diverse range of trading instruments, including stocks and cryptocurrencies, sets it apart from many traditional Forex brokers. However, the broker may not be suitable for traders seeking low minimum deposits or the tightest spreads. Before making a decision, we recommend reading additional ClickTrades reviews and consulting our Forex broker rating for further guidance.
General Information on ClickTrades
- Broker Name: ClickTrades
- Year of Foundation: 2018
- Headquarters: Cyprus
- Regulation: CySEC, SFSA
- Trading Platforms: MT4, WebTrader
- EURUSD Spread: 1.8 pips
- Demo Account: Available
- Minimum Deposit: $250
- Base Currencies: USD, AED, COP, EUR, GBP, LKR, ZAR
- Maximum Leverage: 1:300
- Assets: Currency pairs, indices, stocks, ETFs, commodities, cryptocurrencies
- Deposit Methods: Bank Transfer, Visa/MasterCard, Skrill, Neteller, BTC, LTC, ETH
- Withdrawal Fee: Not specified
- Payment for Inaction: Applicable
- Islamic Accounts: Available
- Segregated Accounts: Yes
- PAMM Accounts: Not offered
- Partner Account: Available
- Scalping: Allowed
- Automatic Trading: Supported
- Mobile Trading: Yes
- Web Terminal: Available
- Social Trading: Not provided
- Trading Signals: Not offered
- VPS (Virtual Private Server): Not offered
- Deposit Bonuses: Not specified
- Contests: Not available
- Customer Support: 24/5
Remember, trading involves risk, and it’s essential to conduct thorough research and consider your individual trading goals and risk tolerance before choosing a broker like ClickTrades.
