Richard Montana | November 17, 2022
ClickTrades is an online trading broker with a vast range of 2,100+ Forex & CFD assets for you to trade online through their proprietary WebTrader platform and the powerful MetaTrader 5 platform for desktop, web and mobile devices. I found the broker to have very competitive trading conditions along with a good selection of trading tools to enhance your market analysis and trade preparation. I like how they also provide you with access to Trading Central which provides in-depth market analysis with actionable trading signals. This could prove to make them a popular choice amongst beginners.
Pros & Cons
- Powerful and user-friendly MetaTrader 5 platform
- WebTrader platform with variety of built in trading tools
- Great choice of 2,100+ trading instruments
- Commission free accounts and tight fixed spreads
- Rapid trade execution speeds
- Quick and secure payment methods
- Excellent Trading Central for technical analysis and signals
- Minimum $1,000 deposit quite high
- Clients from some countries are not accepted
- Inactivity fee after 3 months
- Does not offer the MT4 platform
Founded in 2018, ClickTrades is a broker that offers Forex and CFD trading online to traders all around the globe. The broker has everything that you would come to expect and need to trade along with some added benefits. You can get access to market analysis, news and trading tools, all which I find help support me with my trading strategies and making informed decisions. They also provide you with tight spreads, rapid trade execution speeds, high leverage and zero commissions on deposits and withdrawals.
ClickTrades is operated by KW Investments Limited, which is authorised and regulated by the Seychelles Financial Services Authority (FSA) with licence number SD020. Partner company Key Way Solutions Ltd provides content and operates the business from Nicosia in Cyprus. I don’t particularly like how they aren’t regulated by at least one tier-one regulatory body. I would recommend AvaTrade if safety is a great concern for you. They are one of the most well regulated brokers that you can choose from.
ClickTrades do not accept accounts for residents of certain jurisdictions including Japan, Canada and the USA. If your country is not supported by ClickTrades, you could check out our broker ratings for a broker that is accepted in your country.
ClickTrades provide you with full access to a high-tech and user-friendly platform, WebTrader, designed to allow trading sessions from a wide range of over 2,100+ assets, on both desktop and mobile devices via a simple trading app. They also offer the sophisticated MetaTrader 5 platform which is used by millions of professional traders around the globe. I don’t like how they don’t offer their services on the MetaTrader platform which is still one of the most widely used platform for trading. It is actually my platform of choice as I find it ideal for running expert advisors. You could consider Admirals instead if you prefer to trade on the MT4 platform.
ClickTrades has an intuitive and easy-to-use platform that has everything I expected from a platform built on the latest technologies and developed for reliable execution: a broad range of instruments, free analysis tools, Economic Calendar, Trading Central and features such as limit and stop orders which helped improve my overall trading experience.
With WebTrader I was able to stay connected to the markets on the go or from the comfort of my workspace, while accessing several world-class assets – Forex, Commodities, Indices, ETFs and Bonds.
WebTrader Platform Features
- Advanced chartist methodologies: Develop your trading strategies using charting methodologies and analytical tools that integrate 3 chart styles and several indicators.
- Complex risk management tools: Tailor the risk of trading by improving your techniques while using features such as Stop Loss or Take Profit.
- User-friendly trading system: Enjoy trading on a platform developed to cater to investors of all different experience levels.
- Enhanced trading sessions: Trade over 2,100+ instruments on WebTrader and use the customisable layouts to help streamline your trading experience.
- Trading Central: Use a technical analysis tools that provides complex indicators for a wide range of assets and which suits every trading style.
- Negative Balance Protection: Eligible clients can benefit from a feature that ensures you will never lose more than the funds you have in your account.
MetaTrader 5 (MT5) is one of the most well-known trading platforms that is used by Forex, Stock & CFD traders of all experience levels from all over the world. It was developed by trading software company MetaQuotes and is well know for having a user-friendly interface that is fully customizable to suit the individual needs of traders.
You can easily keep an eye on your entire portfolio in real-time, with multi-window views, navigator, and asset control panels.
I like how it lets you decide how your interface should look: chose your favourite chart types, colours, and technical elements for fast and easy access to what interests you most.
MT5 gives you access to over 30 in-built indicators, 2,000+ free custom indicators, and nine timeframes. You can enjoy instant execution of your positions, pick between multiple payment methods, and trade 400+ instruments grouped up in six asset classes.
If you are stock trading, then MT5 would probably work much better for you. It has all of the tools most traders would need and more. You can easily scan charts, place and manage your trades.
MetaTrader 5 Features
- Intuitive and easy to use trading platform
- Various execution modes and order types available
- Wide range of analytical tools and technical indicators for conducting market analysis
- Various price charts and multiple timeframes
- Equipped with powerful and flexible tools for a highly customizable trading experience
- Easy access to your favourite markets, 24/5
- Open and follow multiple charts at the same time
- Live market updates and price alerts
- Lightning-fast trade execution speed
- Freely available on both desktop & mobile devices
I found a vast amount of trading tools built into the provided trading platforms which were more than enough for my day trading needs. There are a few additional tools that some may also find useful. If you want lots of trading tools, Markets.com have an excellent selection.
Trading Central is an award-winning dynamic chart analysis tool specialising in market analytics and research. It helped me boost my trading strategies with interactive charts and built-in extensive analysis. Trading Central, is available for traders only under certain conditions and comes integrated into the WebTrader platform.
- Find potential trade opportunities using automated chart analysis.
- Track market movements based on multiple daily updates of Support & Resistance Levels.
- Alternative scenarios based on market movements allow you to have a clear perspective on the possible direction of the instrument.
- Take your strategies to the next level with rich analytics and multiple timeframes.
The broker has an economic calendar which gave me extended market coverage and allowed me to filter the markets I was interested in and keep track of events that influence them. This is useful as part of fundamental market analysis and can be used to help with trading decisions.
There is a news section on the ClickTrades website and a financial dictionary that covers some commonly used trading terms along with their explanations. It would be great if they could add some more educational resources such as trading guides and tutorial videos to help traders improve their knowledge and skills. If you would like access to a bigger educational library, you should probably check out Fortrade.
ClickTrades has an impressive 2,100+ CFDs (Contracts for Difference) available for trading. When trading CFDs, you do not actually purchase or own the underlying asset, you are speculating on the price movement, up or down. A CFD is a contract to between two parties to pay the difference between the value of the current price and future price.
With ClickTrades I was able to trade currencies on a global decentralised market with competitive spreads and high liquidity, choosing from three popular FX crosses: majors, minors and exotics.
Most of the industrialised countries as well as the developing ones, have at least one financial index. CFDs on Indices cover more than 26 global indices and if you choose to trade these instruments you also get competitive spreads and high leverage.
When trading CFDs on commodities I was able to choose from two main categories: soft commodities which include grown goods such as wheat or rice and hard commodities that comprise mined products such as gold, gas and oil.
ClickTrades gave me access to the most popular shares on the global financial markets (including the Australian, European, Asian and the U.S Market). TMGM also have a generous selection of more than 15,000 for you to trade, putting them amongst our best stock brokers.
Bonds are issued by banks or governments with the purpose of raising capital, therefore you should take into consideration that the bond market has several opportunities for every trader who decides to trade CFDs on bonds.
Exchange Traded Funds
Choosing to trade CFDs on ETFs (Exchange Traded Funds) can be attractive to a certain type of trader as they are characterised by a high daily liquidity and have competitive fees.
ClickTrades have a choice of 3 different account types. I like how every account type gets access to the WebTrader platform, daily market reviews and financial research, daily analyst recommendations (third party), full access to a video library and dedicated account representative (daily during weekdays).
Minimum $1,000 deposit, geared towards new traders. I’m not too keen on depositing $1000 for a regular account, especially if I were a new trader. I would suggest TD365 for a significantly lower deposit requirement.
Minimum $5,000 deposit, trader’s choice. The original account includes open access to research.
Minimum $25,000 deposit, for expert traders. I like how this signature account includes all of the key features and also special trading conditions, Trading Central and one-to-one meetings with account representative.
At ClickTrades you can open an Islamic Account (Swap-Free) which is only available for customers who cannot use Swap Accounts due to their religious beliefs. In order for you to become eligible for such an account the broker reserves the right to investigate your current situation.
Demo accounts are available if you would like to trial the brokers different trading platforms and practice your trading strategies with virtual funds before going live.
Flexible leverage of up to 1:300 is available. In order to be placed in a certain Leverage category, you must complete the appropriateness test which will show ClickTrades your knowledge related to CFD trading online. The broker must obtain, under the applicable regulation, information about its customers and their experience to assess whether the services they provide are appropriate for its clients. I found their leverage to be comparatively lower than LMFX who offer leverage up to 1:1000.
Spreads are fixed or variable depending on the instrument being traded. EURUSD spread is fixed starting from 2 pips. The broker marks up spreads to cover costs as they do not charge commission. The broker makes a profit from the difference between the BID and ASK prices, a difference that is called the bid-asked Spread.
You will also need to be aware of additional fees such as the overnight rollover (swap). If you leave a position open overnight, then ClickTrades adds or subtracts a “swap” fee to/from your account. This amount will vary as it is linked to interbank interest rates. You will see the charge at the end of the trading day.
An inactivity fee of $30 or its equivalent in the currency of the trading account will apply if there hasn’t been any trading activity during a period of three months or more.
Customer support is available Monday to Friday from 6am GMT to 1am GMT. They can be reached via telephone or email. I would’ve liked if they offered 24/7 customer service as you never know when you might need their help. If this is something that bothers you, you can check out Bold Prime for 24/7 support.
ClickTrades account funding options are limited to bank wire transfer and credit/debit cards and some online payment processors such as Trustly and Paysafecard. If you wish to trade with a broker that accepts crypto payments, you could check out Hankotrade.
ClickTrades don’t charge any deposit fees. If you have deposited in a different currency then the one that your investing account is denominated in, it might be the case that you are required to cover other commission or charges which have been applied for the currency conversion. Even more, you should know that all fees and taxes related to any transactions are strictly your liability.
If you wish to deposit funds in your ClickTrades account, the payment must originate from a payment account that is in your name. This is due to the brokers regulatory demands as they must abide by anti-money laundering laws, and are therefore obliged to verify that you are the legitimate owner of the funds that have been deposited into your account. If you have made a deposit by: Bank Transfer – you may be asked to provide a photo/scan of payment proof or a recent bank statement; Debit / Credit Card – you may be asked to provide a photo/scan of your card, recent credit card statement or a document issued by the bank.
You can withdraw your deposit provided you meet the brokers standard regulatory requirements. If you wish to open a withdrawal request, you must log into your account with your credentials. Then click on the “Withdraw funds” button and follow the indicated steps. Your funds will be released via the original method in which have deposited your money. In some cases, you might be required by ClickTrades to provide additional documents so that your withdrawal goes through.
Compare Broker Features
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, I think that ClickTrades is a decent trading broker with a good range of assets available for you to trade online with reasonable conditions. I like how they have a great choice of powerful and intuitive trading platforms along with a good selection of built in trading tools and Trading Central.
The broker does not charge a commission as they mark-up spreads which are still very reasonable, especially considering there is no commission fee. However, you can find cheaper brokers elsewhere, including IC Markets, who have spreads from zero pips and commission free account options.
Finally, I like how they provide a good variety of funding options and account types to accommodate different trader needs. This helps to make funding and trading an enjoyable hassle free for everyone.