ClickTrades review – 5 things you should know about

ClickTrades review – 5 things you should know about

Rating: 1.2

Beware! ClickTrades is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


ClickTrades is Forex brokerage registered in Seychelles. It provides a web-based trading platform, not the popular the MetaTrader5 platform and an extremely generous leverage. Traders are extended a leverage of up to 1:300. Furthermore, there is a wide range of trading products from which to choose and a spread of 2 pips on EUR/USD which, however, is above the industry average and too high in our view. The required minimum deposit is the staggering $1000 which we view as a big disadvantage for traders who will have to risk lots of money to get a taste of trading with ClickTrades.

ClickTrades regulation & safety of funds

The company behind ClickTrades is registered in the Republic of Seychelles with the name KW Investments Limited. Here is a screenshot:

We learn through the website that the brokerage is authorized and regulated by the Financial Services Authority of Seychelles with a license number SDO20. Here we remind readers that the financial watchdog in Seychelles – the FSA – cannot compare with prestigious regulatory agencies in Europe, most importantly because it does not offer participation in a compensatory scheme by which client’s losses may be recovered in case of bankruptcy or fraud. There is also no assurance for the segregation of accounts which exposes the clients to the possibility of commingling – combining the broker’s finances with that of the client. Furthermore, the agency requires a starting capital of the meager $50 000 while CySEC requires at least €730 000.

After checking with the online registry of the Financial Services Authority we may conclude that the brokerage is in fact licensed by the authorities in Seychelles

The brokerage does provide a web-based trading platform which, however, cannot compare to the MetaTrader 5 trading platform. Nonetheless the broker offers a test-drive as well, which isn’t something common with scammers. On it we could see that clients are extended a leverage of up to 1:300 which isn’t surprising having in mind the offshore location of the brokerage. Furthermore, we could see a spread of 2 pips on EUR/USD which is half a pip above the industry average and quite excessive in our view. Furthermore, on the website we read that the brokerage acts as a market-maker which means that the brokerage makes money through the losses of its clients. Usually, this isn’t a big deal, however, having in mind the lack of regulation – we would advise traders to tread carefully. Putting all that aside, the lack of credible regulation inclines us to suspect that potential clients of the brokerage may be open to substantial risk.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 50 000 pounds, where as with CySEC it is up to 20 000 EUR per person.

ClickTrades deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via the standard Visa and MasterCard, as well as popular e-wallets such as Skrill, Neteller and Trustly.

In the brokers terms and conditions we did find some disturbing provisions. Here is a screenshot:

To put it bluntly – the brokerage leaves for itself a “carta blanca” which may used in order to incur any fee it wishes.  We did not find any mention of withdrawal fees and we even chatted with a representative of the company who also assured us that there are no charges for withdrawal. Here is a screenshot:

We always remind readers of all the ways a trader may test the brokerage’s intentions. Firstly, traders are advised to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Besides judging the brokerage beforehand through the info given on its website, a valuable piece of information in the trading world would be precisely how a scam would go about. Here is a description of the typical three steps:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Crypto Cash where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The motive here is quite straightforward – traders have a limited time window for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing this crucial period and, along the way, losing any chance you might have of getting the money back.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. The growth of scammers that are spawning everyday in forex trading has forced both financial services giants Visa and Mastercard to step up and take action. MasterCard has already increased the previous time period of six months for filing a chargeback to a year and a half, effectively bypassing the “recovery department” part of the scam.

If, however, you have provided the broker with your credit card number and CVV code, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
USA5/5$250 Click for a special offerWebsite
US4.99/5$50 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia, Cyprus4.93/5$100 Click for a special offerWebsite
UK, Australia4.85/5$50 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite


  1. It was all a scam,Thinking about it now the fact that they are regulated by the Saychelles should have been a red flag from the start.I lost over 40 k. The high leaverage came to bite me in the end.
    DO NOT TRADE WITH THIS COMPANY. now they are not responding to my calls or anything,

  2. No.1 cheaters, never open account. my hard earned profits of USD 105,000 they stole it and refused to deposit it back to my account stating that i have done scalping which is no condition to the account. I am wondering how to get this money back. can anybody help to bring them to knees. it is a big money. they reset my account to zero and not responding to my mails or calls.

  3. I was about to fall for the scam myself. It started when I saw an ad. of (click trades) and I filled my personal information with the intention to trade using their trading platform. The next thing, I received a call from a UK number and the caller walked me through their website, and as a beginner, I must say that I was impressed with his skills. After that, he told me that he will call the next day, which he did, and then asked me to make a deposit of min. 1k. I told him that I need more time to research, he finally accepted with resentment. when I did the research I found the above sad comments from those genuine people who have worked hard for their money. The guy is gonna call me tomorrow expecting me to transfer the funds to the account but instead, I am gonna fu.. the hell out of him.

    1. yes he is correct, you did the right think..

  4. exactly the same thing happened with me…. a call from the UK no., telling me that time is money and usual pitch..

  5. Just received a call from one of their agents, when I told him I’m not interested, he was extremely aggressive, and then he hung up in my face. they might be scammers or not, but they definitely need to train their agents on business manners and communications politeness

  6. is all scam! They are regulated by the Seychelles an small island near africa -Nigeria & Kenya. #clicktrades will NEVER return your money! Not even USD1.00
    People are loosing money in Thousands! I Lost over US$30 K.
    DO NOT START WITH THIS COMPANY. IF You DO then Be Ready to face a BIG Loss
    In Dubai they are registered as Simba Commodities Brokers they lure people!
    In Dubai Indian Mr. Riayz / Raj will call and bring indians to his trap
    In Dubai Philippino Mr. Noel will call philippinas to his trap
    In Dubai Bangali Mr. Alam will bring Bangladeshi’s to his trap
    In Dubai Pakistani Razak will bring Pakistani’s to his trap
    all these traped people will lead to Mr. Nasir a Nigerian and gring to by forcing them to deposit money.
    In Dubai they are registered as Simba Commodities DMCC Address: Dubai Zip Code: 44179 City of Dubai Phone number: +971 4 3592001, +971 4 3590686 Categories: Stock & Bond Brokers, Companies & Businesses SPAM! Fraud Brokers! Calling from following Numbers 043742500 0521206982 048727699 #clicktrade Spammer #onlinetrading #fraudonlinebroker #Clicktrade never return money #clicktrade cheeting people #clicktrade Cheeting people in Dubai #Clicktrade a fraud company #clicktrade #naser in Dubai is a cheet #clicktrade is cheeting people #SimbaCommodityBrokerageLLC cheeting people in Dubai #SimbaCommodityBrokerageLLC cheeting people in Dubai #clicktrade a Nigerian fraud company.

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