Is ClickTrades Regulated? Is it safe? - TU Expert review
License is the most important document you have to consider when choosing a broker. Many traders, who would like to start working with ClickTrades try to check whether it is regulated. Traders Union experts have already done that. In this article, you will learn whether ClickTrades is regulated, what regulatory authorities supervise the broker and whether it is safe to work with the company in general.
Short summary about the broker ClickTrades
The ClickTrades broker started operating in 2018 and is registered in Cyprus. It provides services throughout most of the world except Japan, Canada, and several other countries. Trading is available on Forex for stocks and bonds, commodities, indices, ETFs, and cryptocurrencies. Spreads are average for the segment, trading is available through the browser and the MT5 terminal. There are three types of accounts and all the main options for depositing and withdrawing funds. The broker also offers an advantageous referral program.
| 💰 Account currency: | USD and other popular currencies |
|---|---|
| 🚀 Minimum deposit: | 1,000 USD |
| ⚖️ Leverage: | up to 1:300 |
| 💱 Spread: | from 0.0001 (depends on the asset) |
| 🔧 Instruments: | Forex, stocks, bonds, commodities, indices, ETFs, and cryptocurrencies |
| 💹 Margin Call / Stop Out: | N/A |
Pros and cons of ClickTrades
👍 Advantages of trading with ClickTrades:
•7 categories and over 2,100 instruments, including hundreds of the most popular stocks, commodities, and cryptocurrencies.
•ClickTrades WebTrader trading terminal is available in the browser and as an application for mobile gadgets.
•The terminal displays up to 10 charts simultaneously, and there are stop loss and take profit functions.
•The Trade Center provides third-party tools for technical analysis that can be integrated into the terminal.
•ClickTrades is licensed by the FSA (SD020), the international financial regulator.
•The broker provides an economic calendar, news feed, and up-to-date analytics.
•Each client has a dedicated technical support specialist (availability depends on account type).
👎 Disadvantages of ClickTrades:
•Fairly high minimum deposit of $1,000.
•The broker has a demo account, but no cent (micro) accounts.
•At the start, the leverage is only 1:2, and it is difficult to get the declared 1:300.
Why is it important to work with a regulated broker?
License is a document that certifies that a broker operates legally and guarantees fulfillment of its obligations to the traders. A financial license is issued by a financial regulatory authority of a country (the National Bank) or a specialized authority (for example, Securities Commission, Futures Trading Commission, etc.). It is important to choose licensed brokers for the following reasons:
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A license guarantees that the broker operates in compliance with the rules of the financial regulator that issued the document.
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In order to obtain the license, a broker must comply with certain requirements, for example, the size of the authorized capital or personnel qualification. It is simply not lucrative for scammers to comply with such requirements.
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A broker’s license provides access to real markets, and you can be sure that the quotes are real and up-to-date.
The best option is to work with a broker that holds the license of the jurisdiction, where the trader resides. You can also choose a company with a financial license of another reliable jurisdiction, for example, the U.S. or the European Union.
Is ClickTrades Regulated? Broker’s license
Security (Protection for Investors)
The official website of the broker and its web terminal are owned by KW Investments Limited. The company is officially registered in Cyprus and authorized and regulated by the Seychelles Financial Services Authority (FSA), license number SD020. The business is operated by Key Way Solutions Ltd, located in Cyprus, and its license number is НЕ 388418. Thus, the broker has the right to officially provide targeted financial services to users from most countries of the world. At the moment, the company does not work with residents of Japan and Canada.
👍 Advantages
- Client funds are stored in specialized accounts and are protected by modern cryptographic methods
- There is negative balance protection, which greatly reduces the risk
- A trader can file a complaint with the regulator if the broker violates the terms of service
👎 Disadvantages
- To open an account and verify, you must provide personal information
- Access to the main functionality is impossible without full verification
- Limited choice of funding channels through electronic payment systems such as Skrill, Neteller, and a few others
Brokerage fees
Broker’s regulation is the most important choice criterion. However, before you start working with the broker, it is also important to analyze its commissions and fees. TU analysts have studied the commissions and fees charged by ClickTrades, which you can see below.
ClickTrades charges a spread for each trade, and there are commission fees for the exchange (buy/sell). Spreads and commissions differ for each group of instruments and for each specific instrument. Let’s say for Forex EUR/USD the minimum spread is 0.0001 pips and the commission is -0.0111% to buy and -0.0056% to sell. Commissions for all transactions are fixed, but the spread is floating and differs for each transaction. The broker has no commissions for depositing funds (they may be charged by third-party services, however), but there are commissions for withdrawing.
| Account type | Spread (minimum value) | Withdrawal commission |
| Essential | from $12 | Yes |
| Original | from $7 | Yes |
| Signature | from $4 | Yes |
Brokers that are similar to ClickTrades
Many brokers operate legally, obtaining relevant licenses and permissions. However, when choosing a broker, it is important to compare their trading conditions. TU experts have prepared a comparative analysis of ClickTrades conditions with its closest competitors.
Comparison of ClickTrades with other Brokers
| ClickTrades | RoboForex | Pocket Option | Exness | Octa | Forex4you | |
|---|---|---|---|---|---|---|
Trading platform |
ClickTrades WebTrader, MetaTrader5 |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MetaTrader4, MetaTrader5 |
MT4, MobileTrading, MT5 |
Min deposit |
$1000 |
$10 |
$5 |
$10 |
$25 |
No |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:10 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
From 1 point |
From 0 points |
From 1.2 point |
From 1 point |
From 0.6 points |
From 0.1 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
No |
Yes |
No |
No |
No |
Yes |
ClickTrades is a licensed broker that allows you to trade the most popular instruments on favorable terms.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
The Octa broker has tried to adapt its conditions as much as possible to the various trading strategies used by traders. However, at the moment the company is more focused on active market participants, rather than passive investors.
Forex4you is an all-in-one broker for active and passive trading, rates well for both novice traders and professional level traders.
Conclusions
ClickTrades cannot be considered absolutely reliable. The broker operates on a license of an offshore regulator. This creates certain risks regarding security of your funds. The broker has a good reputation. However, you can work with companies with an offshore regulation only at your own risk.
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FAQ
How difficult is it to obtain a brokerage license?
The procedure for obtaining a license differs depending on the jurisdiction, but it is very difficult and expensive to get the document in a reliable jurisdiction. This is why only reliable brokers obtain licenses.
Why is it not recommended to work with offshore brokers?
Offshore brokers have to meet minimum requirements for obtaining a license and reporting, which is why often scammers get such licenses.
Can an offshore broker be reliable?
Yes, although there are not many of such brokers. There are brokers with a good reputation, but with an offshore license. You still need to be very cautious when working with such companies.
How do I check a broker’s reputation?
In order to check a broker’s reputation, you need to read user reviews. However, it is recommended to only use independent websites for that.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.