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ClickTrades Review 2024: Is it Reliable or Scam?

Is ClickTrades Legit or Scam?

ClickTrades raises several red flags that make it a risky proposition for forex and CFD traders. While they offer a wide variety of assets and high leverage, the lack of proper regulation and concerning practices like bonus structures suggest you should look elsewhere.

Company Overview



Registered Country/Region



FSA (offshore regulatory)

Market Instruments

Forex, shares, commodities, bonds, ETFs, indices, and cryptocurrencies

Demo Account




EUR/USD Spread

Floating around 2 pips

Trading Platforms

WebTrader, MT5

Minimum deposit


Customer Support

Live chat, phone, email

Services or Products

ClickTrades offers Contracts for Difference (CFDs) on a wide range of assets, including:

  • Forex Pairs (Major, Minor, and Exotic)
  • Stocks
  • ETFs
  • Indices
  • Commodities (Precious Metals, Oil, Natural Gas)
  • Cryptocurrencies (Limited Selection)

If you have lost money to companies like Winsorfx, or Coinbasemu; please report it to us on our Report a Scam form.

Trading Platform & Leverages

ClickTrades offers a proprietary web-based trading platform, which lacks the industry-standard MetaTrader4 platform. They advertise leverage as high as 1:300, but keep in mind higher leverage significantly increases risk.

Spreads and Cost of Trading

ClickTrades’ spreads are reportedly high, starting at 1.8 pips – 1.9 pips on their standard account. This, combined with a high minimum deposit of $1,000, makes it a costly platform to trade on.

License and Regulations

Legal Warning Against ClickTrades

ClickTrades operates under KW Investments Limited, which is licensed by the Seychelles Financial Services Authority (SFSA). However, the SFSA offers considerably less protection compared to regulators in established financial markets like the European Union (EU) or Australia.

Here’s why the lack of proper regulation is a major concern:

  • Limited Financial Requirements: The SFSA has much lower capital requirements for brokers compared to EU regulators. This raises questions about ClickTrades’ financial stability.
  • Client Compensation Funds: EU-regulated brokers participate in client compensation funds that reimburse traders in case the broker goes bankrupt. No such protection exists with ClickTrades.
  • Targeting Restrictions: ClickTrades claims they don’t accept residents from certain countries, yet they don’t explicitly exclude the EU, where offshore brokers are not allowed to operate without proper licensing.

Deposit and Withdrawal Methods

ClickTrades accepts deposits through various methods including bank wire, VISA, MasterCard, Neteller, and Skrill. However, information regarding withdrawal processing times and fees is unclear.

ClickTrades Pros and Cons



Wide variety of assets

Unacceptably high minimum deposit

High leverage (but risky)

Lack of reputable regulation (SFSA)


No MetaTrader4 platform

Why Dealing With An Unlicensed Broker Is Risky

Unlicensed brokers like ClickTrades pose significant risks to traders:

  • Limited Dispute Resolution: In case of a dispute, resolving it becomes difficult without the oversight of a reputable financial authority.
  • Potential for Fraud: Unregulated brokers may engage in manipulative practices or even disappear with your funds.
  • No Client Protection: You lose access to the safety nets provided by client compensation funds in regulated markets.

Client Feedback

Reviews for ClickTrades are mixed, with some users reporting withdrawal difficulties. It’s important to be cautious of overly positive reviews, as they may be fabricated.

How Can “Reviewsadvice” Help You If You Get Scammed?

Unfortunately, recovering funds lost to a scam broker is very difficult. However, “Reviewsadvice” can help you by:

  • Educating you about red flags to identify risky brokers.
  • Providing resources to compare and choose reputable, licensed brokers.
  • Highlighting the importance of responsible trading practices.

You Can report to us today by the below form.

File A Complaint Against Scammers

Final Thought

ClickTrades’ lack of proper regulation and concerning practices like high minimum deposit and bonus structures make it a risky choice for forex and CFD traders. Consider reputable, licensed brokers with transparent fees and a proven track record to safeguard your investment. Remember, if something seems too good to be true, it probably is.

Picture of  William Pewitt

William Pewitt

William Pewitt is an experienced forex broker reviewer, dedicated to helping traders navigate the complex world of currency exchange. With a sharp eye for detail and years of experience, I try to provide concise and insightful assessments of various forex brokers. My reviews offer valuable guidance, helping traders make informed decisions about their investments.

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