ClickTrades is an offshore regulated broker that offers more than 2,100 trading instruments on its proprietary WebTrader as well as MT5 trading platforms. Multiple payment options and Trading Central analysis are some of the strengths of the brokerage.
ClickTrades was founded in 2018 with a goal of giving its clients the best trading experience in the financial markets. It is located in Seychelles where its operations are authorized and supervised by the FSA. The broker has deployed cutting edge technology which has ensured speedy execution of client trades and a digitally secured trading environment.
In a bid to assist its traders, the broker has partnered with the renowned fintech firm ‘Trading Central’ to provide quality analysis and trading ideas to its teeming clientele. The support desk is multilingual and easily accessible every week day.
With two powerful trading platforms, multiple payment options and expert analysis powered by Trading Central; ClickTrades is a good broker especially for experienced traders.
ClickTrades is a broker with a huge assets index; this includes bonds and ETFs which are not very common with most brokers. A choice of two powerful platforms is available: MT5 and ClickTrades WebTrader; both platforms are rich with trading and analysis tools. Clients from different places are offered a variety of payment options which includes crypto coins and several ePayment wallets and gateways.
- Regulated by FSA Seychelles
- Over 2,100 trading instruments can be traded on its platforms
- Expert analysis is provided by Trading Central
- Multiple payment options including ePayments and cryptos
- Multilingual support team
- Clients from USA, Japan, Canada and some other regions are not allowed to register
- Inactivity fees of $30 every month are charged from dormant accounts
- No training articles, videos or academy
In the area of trading instruments, ClickTrades did well by providing access to trade more than 2,100 trading instruments grouped under several assets classes. There are about 54 currency pairs, 10 stock indices, 6 commodities, 4 bonds, 22 cryptocurrencies and over 50 exchange traded funds (ETFs). The broker also offers thousands of stocks CFDs drawn from stocks exchanges in USA, UK, Germany, France, Spain, South Africa, etc.
ClickTrades Instruments Summary
Commission and Spread Fees
ClickTrades does not charge any commissions on trades, rather its trading fees are embedded into the bid-ask spreads. The broker charges both fixed and variable spreads depending on the platform and trading instrument. The ClicksTrade WebTrader has lower spreads when compared to the MT5 platform. On the MT5, the benchmark EURUSD starts from 3 pips while on the WebTrader, EURUSD is from 1.8 pips.
If you trade a currency that is not the same as your account currency, conversion fees of 0.5% will be applied each time money is converted into your account currency. ClickTrades allow its clients to maintain accounts in up to 7 currencies; USD, AED, COP, EUR, GBP, LKR and ZAR.
Clients can choose from 3 account types: Essential account is designed for newbies; the recommended deposit is $1,000. Original account is the trader’s choice and can be opened with a deposit of $5,000. Signature account is reserved for experts. It comes with special trading conditions, access to Trading Central analysis and physical meetings with ClickTrades account representatives. The balance required to open a Signature account is $25,000.
Swap free accounts will not incur swap fees within its assigned grace period after which swap fees will apply. Major currencies are assigned a grace period of 5 nights, minor currencies is 3 nights, exotic currencies is 2 nights. Grace period of 4 nights apply to commodities, ETFs and shares CFDs, indices is 2 nights while crypto CFDs is 3 nights.
Demo accounts come automatically with registration; it is created at the same time with the real account. It comes with $50,000 virtual funds to be used in trading practice.
|Commission (per standard lot per side)||$0||$0||$0|
Deposit and Withdrawal Fees
There are no deposit fees but withdrawal fees depend on the withdrawal method used.
If there is no trading activity in an account for a period of 90 days, $30 is charged monthly as inactivity fees.
ClickTrades gives its traders access to choose from two trading platforms as follows:
This is a proprietary trading platform that runs on web browsers across all operating systems the platform is user friendly and meets the requirements of both new and experienced traders. Below are some of its features:
- Assets list are neatly arranged for easy navigation. Favourite assets can be grouped to appear in the Watchlist.
- The workspace, charts and colours are customizable.
- Easily switch between live and demo accounts.
- Multiple order types including limit and pending orders.
- Charts can be viewed in 6 styles and on 10 timeframes.
- It comes with up to 90 technical indicators.
- Features trading tools like daily analyst ratings, bloggers opinions, news sentiment and hedge funds activity.
This is an advanced trading platform built by MetaQuotes Software Corp in 2010 to replace the popular MT4 platform. It is powerful, versatile, sophisticated but simple enough to satisfy the needs of newbies as well as professional traders. Here are some of its features:
- User friendly platform with fast execution speed.
- Tradable assets can be displayed in 3 chart types and up to 21 timeframes.
- Platform features and tools can be expanded via plugin tools developed from the MQL5 programming language.
- Supports automated trading through Expert Advisors (EAs) which are trading robots developed with MQL5 and installed on the MT5 platform.
- From the market tab, you can access the MQL5 market where trading tools, EAs, indicators, etc can be bought and installed on the platform.
- It comes with 38 technical indicators; but it can be extended to thousands of indicators via plugin apps.
- It s versatile; comes as WebTrader, windows desktop application, android and iOS mobile apps
ClickTrades Platforms Summary
|MetaTrader 4 (MT4)||x|
|MetaTrader 5 (MT5)||✓|
This feature helps trader to make informed decisions by presenting in-depth research and analysis. It is integrated into the WebTrader but powered by ‘Trading Central’; which is a leading fintech firm that is into financial research and provides updated expert analysis on a wide range of financial securities.
This section periodically posts articles drawn from the current market news. The articles are short and focus on selected assets. It is usually updated weekly.
This comprises of financial markets terms and their meanings. It is arranged alphabetically making it easy for a trader to easily access a specific term and its definition. The dictionary has about 230 terms.
This is an indispensable tool used in fundamental analysis. It shows the time and dates of important events that are known to impact the financial markets. For each event, its overview, chart, impact history and forecast can be viewed when you click on the event. The calendar can be customized to display only the trader’s choice of events, countries, dates, time zone and event’s importance level.
ClickTrades Research and Education Summary
ClickTrades does not charge extra fees for deposits and withdrawals. In compliance with the regulatory provisions, third party deposits are not allowed. The minimum deposit is $250 and the payment options available to you depend on your country of residence. Generally, trading accounts can be funded via bank wire transfers, credit/debit cards and e-payment gateways like Skrill, Neteller, YuuPay, Fast bank transfer and SafeCharge.
The broker accepts crypto payments in Bitcoin, Ethereum, Litecoin, etc. It is powered by Ecommpay. Card payments are instant as well as ePayments though some may delay up to 24 hours. Bank transfers take 2-7 business days before the payment is completely processed.
ClickTrades Funding Summary
The trading brand ‘ClickTrades’ is owned and operated by ‘KW Investments Limited’, which is a company that is authorized and regulated by the Seychelles Financial Services Authority, (FSA). The license number is SD020.
ClickTrades Regulation Summary
|SFC (Hong Kong)||x|
|Other (FSA Seychelles)||✓|
ClickTrades states those clients’ funds are protected according to the regulatory provisions. Adequate digital security has been implemented to protect clients’ data and funds.
The Frequently asked questions (FAQs) page is the first point of call to prospective clients who may have questions. But, if you still want to reach the support team, ClickTrades client support desk is available every weekday from Monday to Friday. You can reach them by sending an email or by calling the support phone numbers. Also, on the website, there is a web chat support channel which can be used to reach the support team. You can follow ClickTrades on social media; Twitter, Facebook and LinkedIn.
ClickTrades is a broker with a determination to lead other brokerages. Regulated by FSA Seychelles, it has implemented the necessary standards on security, transparency and honesty. Its choice of platforms gives traders the best options in the business. The huge assets index is also commendable.
But, in comparison with other brokers, ClickTrades spreads are not tight. Also the minimum account opening balance is high. Perhaps, the greatest weakness is the offshore regulation which many experts frown at. Furthermore, there are no educational resources, social trading or managed accounts. But, generally it is a broker that has started well and may get better and possibly reach its goal of leading other brokerages.