ClydeTrade has been fooling investors into depositing funds, trading, and finally blocking withdrawals. Finally, we have the truth regarding investing with Clyde Trade and the risks that come with it. Please find out more in our exclusive Clydetrade.co review.
There’s a warning out regarding trading with ClydeTrade. The platform faces severe allegations of fraud from Spanish investors and traders. Clyde Trade has been blocking withdrawal attempts from investors. And this is why we have to expose the platform’s dubious activities. Investing and trading with clydetrade.co will likely lead you to lose funds. Several investors have harrowing experiences with the platform. Learn more in our clear CLYDETRADE REVIEW.
A Brief Overview of ClydeTrade
The platform claims to provide brokerage services to clients globally. We fail to get from ClydeTrade why they would block members from withdrawing funds. We get why investors sign up with an appealing website design.
Navigation is straightforward, and everything lines up to a tee. However, we spot several false claims on their about us page. The platform claims to consist solely of professionals in the financial trade.
Clyde Trade claims that its main goal is to keep traders safe, especially in volatile conditions. Despite this promise, the platform will allow you to trade but fail to withdraw funds. Instead, we have an exit platform that will soon close shop.
We highly recommend investing in reliable forex robots with a proven reputation. These robots enjoy the backing of experts and the forex trading community. Traders use these robots thanks to advanced tools and high accuracy.
On the about us page, clydetrade.co tries to elevate their course. The platform claims to have over 25K active customers and over $5 million in traded value. We also get a platform that promises clarity and openness during trading.
It would be best if you were careful when investing with online platforms. We recommend doing due diligence first before committing any funds. You need to find out the reputation of a platform before signing up.
ClydeTrade offers three investment accounts on their platform. These include Advanced, Professional, and Simple. Each of these accounts comes with a different set of features. Let’s take a closer look at each account;
It’s the account slated for experienced traders. You need to invest a minimum of $2,000 to get started. Some features include leverage of 1:200 and stop-out level being 60 percent. All accounts come with floating spreads.
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As the name suggests, the platform is best for professionals. You have to make a minimum investment of $20,000 to get started. The leverage set for this platform is 1:300, with members getting 300 trading instruments.
The account offers fewer trading features for newbies, with beginners having to deposit $250. You won’t get an account manager with this account, and there are fewer trading instruments. The leverage for this account is 1:100.
We have to point the high leverage set for experienced and professional traders. It’s a tell-sign that the platform fails to follow industry guidelines. Regulators have set leverage maximum to protect investors for those new to trading.
In Europe, regulators agree to a maximum of 1:100. The United States caps leverage at 1:50 for retail traders. Any platform going above the recommended leverage takes advantage of investors. With a losing trade, the platform rips enormous rewards from it.
There are commissions and claims of offering risk management. However, despite this claim, the platform rarely releases commissions or adds them to your trading account. The risk management feature is entirely unavailable.
You would expect such a platform to offer account managers even to beginners. Professional platforms do so to improve the client’s trading skills. But, instead, what we get from ClydeTrade is an account manager that will try and rip you off.
We strongly believe the platform hires call agents to act as account managers. These managers call you and claim to have a lucrative position. All you have to do is invest with them and wait for your profits to soar.
These account managers promise an ROI within a week or two in most cases. After the trading or vesting period is over, you wait for your account balance to increase. And this is where the trouble starts.
Attempts to reach the account manager will fail. The platform will quickly try and cover up the mess. Clydetrade.co will replace the account manager and give you an excuse. In most cases, the platform claims the account manager is on leave.
Are funds safe with ClydeTrade?
Your funds are far from safe with a platform-facing warning from a renowned regulator. In addition, the platform fails to offer insurance cover for deposits made by clients. We also note there’s no segregation of accounts.
Clydetrade.co also fails to deposit the minimum required amount with regulators for such an undertaking. All trading service providers need to deposit funds to act as reserves. It helps protect investors in the event of bankruptcy or insolvency.
Assets and trading instruments
For professional traders, the platform claims to offer 300 trading instruments. We fail to see why the platform would fail to provide the same to other investors. Personalized services are only available for Professional traders.
The available trading assets categories include commodities, forex, indices, and stocks. You get to trade commodities such as coffee, gold, natural gas, oil, and more. Commodities play an integral part in diversifying your portfolio.
Forex trading happens to be at the core of the platform’s activities. The platform offers major and minor currency pairs. We also note that forex trading, for the most part, faces unfair trading conditions on the platform.
Indices found on the platform include DAX, NASDAQ, S&P 500, and more. In addition, you get to trade with what most refer to as benchmark indices. These are some of the indices you will face when investing with the platform.
Lastly, we have the stock market, which gives you a chance to own a piece of a company for a limited time. Some of the shares include tech giants such as Apple, Google, and Microsoft.
Tetris Group Ltd is the entity we are told owns the platform. However, the company has faced criticism from major regulators and even bans from a few. Spanish forex regulator, the CNMV, is one of them.
There are no details to go on when it comes to the CEO or founder of the company. It remains hidden from the public eye. There’s also no business registry of the company anywhere on the face of the planet.
ClydeTrade License and Registration
ClydeTrade is not a licensed platform. However, there’s a warning out from the Spanish regulator, CNMV. The notice is a clear indicator of what to expect with the platform. With harsh trading conditions, you will likely lose all your funds.
You need to invest with platforms regulated by reputable bodies. These include ASIC, BaFIN, CFTC, CNMV, CONSOB, CySEC, and more. Such regulators work to ensure there’s a fair trading ground for all parties.
Contact and support
Before signing up, you need to check how fast a platform responds to queries. Try and test the communication channels available on the platform. You will notice clydetrade.co fails to offer live chat.
Members can only communicate via email, which is a one-way communication avenue. The platform is free to ignore your emails or respond when necessary. It’s a way to ensure the platform controls the narrative.
We don’t recommend you fund your accounts with Clydetrade.co. The platform is far from secure. So please stay away from ClydeTrade.
The platform is a scam, and you will likely lose your investment with Clyde Trade.
Go for forex trading tools that over the years prove worthy. For example, experts recommend dependable trading bots.
If you have any queries, feel free to drop a comment or write to us.