ClickTrades Review: Regulations, Trading Platforms, Instruments, and Pros & Cons

Introduction Established in 2018, ClickTrades is a brokerage firm that facilitates online Forex and CFD trading for traders worldwide. The broker offers a comprehensive range of services and features to meet the needs of traders, though there are some aspects worth noting. This review will cover ClickTrades' regulatory status, available trading platforms, offered instruments, and an assessment of the broker's strengths and weaknesses.

Regulation

ClickTrades operates under the authority of KW Investments Limited and is regulated by the Seychelles Financial Services Authority (FSA), holding license number SD020. However, it's important to note that ClickTrades lacks regulation by a tier-one regulatory body. For those who prioritize safety and stringent oversight, alternative brokers like AvaTrade, which is known for its robust regulatory compliance, may be a more suitable choice.

Trading Platforms

ClickTrades provides access to two primary trading platforms:

1. WebTrader Platform: This user-friendly platform allows traders to engage in trading activities on desktop and mobile devices through a dedicated app. It offers access to a vast selection of over 2,100 assets, including Forex, Commodities, Indices, ETFs, and Bonds. Key features of the WebTrader platform include:

• Advanced charting tools with three chart styles and numerous indicators.
• Risk management tools, such as Stop Loss and Take Profit orders.
• A user-friendly interface suitable for traders of all experience levels.
• Customizable layouts for a personalized trading experience.
• Integration of Trading Central, a technical analysis tool.
• Negative Balance Protection for eligible clients.

1. MetaTrader 5 (MT5): A widely recognized trading platform used by traders globally. MT5 offers real-time portfolio monitoring, customizable interfaces, and access to over 30 built-in indicators, 2,000+ custom indicators, and nine timeframes. MT5 supports instant execution, multiple payment methods, and trading across 400+ instruments in six asset classes. It's particularly well-suited for stock trading and provides advanced charting and management tools.

Trading Tools

ClickTrades offers an array of trading tools within its platforms, catering to various trading needs. Notable tools include:

• Trading Central: An award-winning dynamic chart analysis tool that enhances trading strategies with interactive charts and extensive analysis.
• Economic Calendar: Provides extended market coverage and enables traders to track events influencing their chosen markets, aiding in fundamental market analysis.

Education

ClickTrades offers limited educational resources, including a news section and a financial dictionary with explanations of common trading terms. However, it falls short in terms of comprehensive educational materials like trading guides and tutorial videos. Traders seeking a more extensive educational library may explore alternatives like Fortrade.

Available Markets

ClickTrades impressively offers over 2,100 CFDs for trading across a variety of asset classes:

• Forex: Access to global currency markets, with competitive spreads and high liquidity, covering major, minor, and exotic currency pairs.
• Indices: CFDs on more than 26 global indices, featuring competitive spreads and high leverage.
• Commodities: Options for trading CFDs on both soft and hard commodities.
• Shares: Access to popular shares from global financial markets.
• Bonds: Opportunities to trade CFDs on bonds issued by banks or governments.
• Exchange Traded Funds (ETFs): Attractive options for trading CFDs on ETFs, known for their high liquidity and competitive fees.

Account Types

ClickTrades offers three account types, each with its own minimum deposit and features:

1. Essential Account: Geared towards new traders with a minimum deposit requirement of $1,000.
2. Original Account: A more flexible option for traders with a minimum deposit of $5,000, providing open access to research.
3. Signature Account: Designed for expert traders with a minimum deposit of $25,000, offering special trading conditions, Trading Central, and one-to-one meetings with an account representative.

Additionally, ClickTrades offers Islamic accounts (Swap-Free) for traders who cannot use Swap Accounts due to religious beliefs. Eligibility may be subject to investigation by the broker. Demo accounts are available for traders to practice with virtual funds before live trading.

Leverage

ClickTrades offers flexible leverage of up to 1:300. However, to determine the appropriate leverage category, traders must complete an appropriateness test to demonstrate their knowledge of online CFD trading. Notably, ClickTrades' leverage is comparatively lower than brokers like LMFX, which provide leverage up to 1:1000.

Trading Fees

The broker's spreads vary between fixed and variable, depending on the instrument being traded. For instance, the EURUSD spread starts from 2 pips. ClickTrades covers its costs through spreads and does not charge commissions. Additionally, traders should be aware of overnight rollover fees (swap), which are applied if positions are held open overnight. The amount is linked to interbank interest rates and is reflected at the end of the trading day.

Inactivity Fee

ClickTrades imposes an inactivity fee of $30 (or equivalent in account currency) if there is no trading activity for three months or more.

Customer Support Customer support is available Monday to Friday from 6 am GMT to 1 am GMT, accessible via telephone or email. It's worth noting that ClickTrades does not provide 24/7 customer service, which may be a concern for traders who require round-the-clock assistance.

Advantages of Trading with ClickTrades

• Extensive range of over 2,100 instruments across various categories.
• User-friendly WebTrader platform available on both desktop and mobile devices.
• Robust charting tools and risk management features.
• Regulatory oversight by the FSA.
• Access to an economic calendar, news feed, and analytics.
• Dedicated account representatives for certain account types.

Disadvantages of ClickTrades

• High minimum deposit requirement of $1,000 for the Essential Account.
• Limited educational resources compared to some competitors.
• Lack of cent (micro) accounts.
• Initial leverage of 1:2, with challenges in attaining the advertised 1:300 leverage.

ClickTrades offers a diverse range of trading opportunities but has certain limitations, especially in terms of educational resources and initial leverage. Traders should carefully consider their specific requirements and risk tolerance before choosing ClickTrades as their brokerage partner.

Broker Details

Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.