ClickTrades Broker Review 2022: Scam Or Safe? Pros & Cons

ClickTrades

$20

Min Deposit

0.0

Min Spread

2021

Foundation

+2

Broker Trusted Points

ClickTrades is an online forex broker that offers a diverse selection of 2,100+ Forex and CFD products for trading using their proprietary WebTrader platform and the sophisticated MetaTrader 5 platform for desktop, web, and mobile devices. In addition, the broker offers very favorable trading circumstances as well as a wide range of trading tools. 

ClickTrades is an online broker that offers Forex and CFD trading to clients all over the world. Market news, tools, and analysis are available from the broker to assist traders with their trading strategies and judgments. They also offer narrow spreads, quick trade execution, large leverage, and no deposit or withdrawal commissions.

Clients also get access to Trading Central, which offers deep market information as well as practical trading suggestions along with analytical tools for technical analysis. We are going to provide you with all insights and features of the brokerage firm in this detailed review of ClickTrades.

ClickTrades Review 2022: Pros and Cons

Pros

  • Over 2100 CFDs on various asset classes
  • MetaTrader 5 (MT5)
  • Fast execution
  • No commission
  • Trading central
  • Fast and safe payment methods
  • Weekly CFD expiration rollover

Cons

  • Not available for residents in U.S., Canada, and Japan
  • No educational resources except a financial dictionary
  • Overnight charges and inactivity fee 
  • Minimum initial deposit $1000
  • No MetaTrader 4 (MT4)
  • Low leverage

Is ClickTrades a Scam: Regulations

KW Investments Limited, the financial service provider, authorized and regulated by the Seychelles Financial Services Authority (FSA) under license number SD020, operates ClickTrades. Key Way Solutions Ltd, a partner firm, supplies content and manages the business from Nicosia, Cyprus.

ClickTrades Review 2022: Trading account types

There are three main account kinds available at ClickTrades. The three categories are essential to account, original account, and signature account. ClickTrades suggests that the essential account type is suitable for novice traders or beginners, traders can pick the original account type if they want to, and signature account type is ideal for seasoned traders.  

Essential account

  • Minimum deposit $1000
  • Demo account
  • Access to the video library
  • Third-party analyst recommendations daily
  • 2 days/week dedicated account support
  • Daily news updates and research 

Original account

  • Minimum deposit $5000
  • Demo account
  • Access to the video library
  • Third-party analyst recommendations daily
  • 3 days/week dedicated account support
  • Daily news updates and research 
  • Open access to research

Signature account

  • Minimum deposit $25000
  • Demo account
  • Access to the video library
  • Third-party analyst recommendations daily
  • 5 days/week dedicated account support
  • Daily news updates and research 
  • Open access to research
  • Trading central
  • Special trading environment
  • Access to one-to-one meetings with the account representative

ClickTrades Review 2022: Account opening

ClickTrades makes it simple to open a trading account

You must fill out a brief online application form provided by the broker. As part of knowing customers’ procedures, you will be required to give some personal information as well as documentation. 

You can fund your account and start trading online utilizing the provided platforms once validated.

ClickTrades Review 2022: Trading platform

On both desktop and mobile devices, ClickTrades provides complete access to WebTrader, a high-tech and user-friendly platform that allows trading sessions from a wide selection of over 2,100+ assets. They also provide the advanced MetaTrader 5 trading platform, which is utilised by millions of traders all around the world.

WebTrader 

ClickTrades offers an intuitive and simple-to-use platform with all of the features you’d expect from a platform based on cutting-edge technology and designed for dependable execution.

WebTrader allows you to stay connected to the markets either on the road or at your desk, with access to a variety of world-class assets such as Forex, commodities, indices, ETFs, and bonds. Here are salient features of WebTrader.

  • Several analytical tools
  • Trading central
  • Stop and limit orders
  • Wide range of instruments
  • Economic calendar
  • Negative balance protection
  • Advanced charts

MetaTrader 5 (MT5)

MetaTrader 5 (MT5) is a well-known trading platform used by Forex, stock, and CFD traders of different levels of experience from across the world. It was created by MetaQuotes, a Russian software company, and is known for having a user-friendly interface that can be entirely customised to meet the demands of individual traders.

You can easily monitor your whole portfolio in real-time with the help of navigators and asset control services. In addition, over 30 built-in indicators, 2,000+ free custom indicators, and nine timeframes are available in MT5.

You get to design your own interface, so pick your favourite chart kinds, colours, and technical components for quick and easy access to the information that matters most to you. Here are the salient features of the MetaTrader 5 trading platform. 

  • A large number of technical indicators and analytical tools
  • 24/5 market access
  • Intuitive and easy trading platform
  • Multiple timeframes
  • Live market updates
  • Quick trade execution
  • Compatible with all devices

ClickTrades Review 2022: Trading instruments

ClickTrades offers a whopping 2,100+ CFDs (Contracts for Difference) to trade. When you trade CFDs, you are betting on the price movement, up or down, rather than purchasing or owning the underlying asset. A contract for difference (CFD) is a contract between two parties to pay the difference between the current and future prices.

Forex currency pairs

Choose from three popular FX pairs: majors, minors, exotics, and trade currencies on a worldwide, decentralised market with competitive spreads and significant liquidity with ClickTrades.

Stocks

ClickTrades allows you to trade the most popular stocks on the international stock exchanges (across Europe, Asia, Australia, and the U.S Market).

Indices

At least one financial index exists in the majority of developed and developing countries. Moreover, CFDs on Indices cover over 26 worldwide indices, with attractive spreads and substantial leverage if you prefer to trade these instruments.

Bonds

Bonds are issued by banks or governments to raise cash; consequently, every trader who chooses to trade CFDs on bonds should be aware that the bond market offers a variety of chances.

Commodities 

When trading CFDs on commodities, you have two options: soft commodities, which include grown goods like wheat or rice, and hard commodities, which include mined products like gold, gas, and oil.

Exchange-Traded Funds (ETFs)

Trading CFDs on ETFs (Exchange Traded Funds) can be appealing to certain traders because they have high daily liquidity and low fees.

Cryptocurrencies

Clicktrades offers trading opportunities only in six cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, and Ripple.

ClickTrades Review 2022: Commission and spreads

Although various factors may determine the size of the spread, ClickTrades has tight spreads. This is because there are no transaction fees or commissions at ClickTrades. In addition, there are no deposit fees charged by the broker.

When the currency of your account differs from the currency of the traded instruments, ClickTrades will charge a conversion fee. The conversion fee is a fixed fee of 0.5 percent that applies to Webtrader users.

If you keep a position open overnight, ClickTrades will charge you a swap fee, which will be added to or deducted from your account. In addition, if a customer account has been inactive for three months or more due to a lack of order execution, you will be charged for an inactive account a maintenance fee.

ClickTrades Review 2022: Leverage 

There is flexible leverage of up to 1:300. To be assigned to a specific Leverage category, you must pass the suitability test, which will demonstrate to ClickTrades your expertise of CFD trading online. In addition, according to the applicable rule, the broker must acquire information about its customers and their experience in order to determine whether the services they provide are appropriate for their clients.

ClickTrades Review 2022: Deposit and withdrawals

The broker has a much smaller selection of alternatives. Bank wire transfers, credit/debit cards, and online payment processors, such as Trustly and Paysafecard, are the only options.

There are no deposit fees at ClickTrades. If you want to deposit money into your ClickTrades account, you must use a payment account that is registered in your name. You can withdraw your money as long as you meet the broker’s regulatory standards. Your profits will be released using the same method that you used to deposit them.

ClickTrades Review 2022: Educational and research support

On the websites of brokers, there are no educational resources. It can be a significant disadvantage for new clients who are unable to obtain assistance with trade knowledge. Every trader should have access to educational resources. Trading in the financial markets will be difficult without it since every trader must understand the dynamics of the market and the various trading techniques.

The broker provides only the most basic research tools. It just serves an economic calendar for the traders. However, it might be a significant setback because a thorough analysis is essential for successful trading. Without analysis, it is impossible to establish the entry and departure points, as well as the price movement of the assets. 

Other top brokers provide a variety of research tools to aid traders in comprehending market activity and successfully executing trading methods.

ClickTrades Review 2022: Customer support

ClickTrades customer support is available five days a week. In addition, you can get in touch with the support team via phone, live chat, and email.

ClickTrades Review 2022: Verdict

ClickTrades is an online forex broker that provides a diverse choice of assets to clients all over the world. They offer several user-friendly and robust trading platforms to choose from, as well as a number of built-in trading tools, including Trading Central.

The broker does not charge a commission since the mark-up spreads are fair given the lack of a commission cost. In addition, the broker offers a wide range of funding choices and account kinds to meet the demands of different traders.

In my opinion, you can easily trade with the most popular and common trading platform MetaTrader 4 (MT4) which is offered by a reputed brokerage firm Investby.

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