ClydeTrade: reviews and recommendations in expert review
Review of the company ClydeTrade
The company ClydeTrade is one of the most successful brokers today, at least according to their official website. However, before entrusting them with your investments, it is worth carefully studying the information about this intermediary.
Information about the company from the website
Basic data about the company is available on clydetrade.co, but this information does not distinguish them from other similar projects. Although the site supports five languages, including Russian, all legal materials are presented only in English in PDF format. Translating them using an online translator may be laborious and ineffective as the texts may be standard and lack specific information, including ClydeTrade’s details and location.
Information about the company’s registration is located at the bottom of the website, stating that Tetris Group LTD, registered in Dominica, is the owner of ClydeTrade. Checking the state registry reveals that the company was established only in March of the current year, despite the site’s claims of over 10 years of experience for the ClydeTrade team.
Activities and regulation
The broker’s registration in Dominica exempts them from the obligation to obtain a forex broker license, meaning a lack of control and regulation, ideal conditions for scammers. ClydeTrade does not have licenses from international financial regulators, leaving potential clients unprotected in case of the broker’s dishonest activities.
Trading conditions and accounts
After registration, traders are offered to choose one of three accounts and fund it with the corresponding amount without disclosing the size of commissions, spreads, and other important details. Despite the use of the MetaTrader platform, well-known in the industry, the risk of deceiving clients remains.
Reviews about ClydeTrade
The company is hardly mentioned on the internet despite the claimed number of clients. The absence of real reviews and feedback are alarming signals that may indicate suspicious activities of the broker.
Typical fraudulent schemes
Individuals behind companies like ClydeTrade often use schemes of quick enrichment at the expense of clients. Such fraudsters create a series of shady operations, closing them as negative reviews surface, and resort to manipulations and psychological tricks to attract investors.
Conclusion
Despite ambitious statements, the company ClydeTrade is a typical fraudulent project with unresolved issues and an ambiguous reputation. We recommend approaching such organizations with caution and avoiding investing in them.