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Introduction to ClydeTrade Review:
ClydeTrade is yet another shady broker that we came across after many of our readers complained about the brokerage firm. Scam brokers are plentiful in the market and one small mistake may be enough for them to trap you into their scams. With unbelievable high leverage and a minimum deposit that is asked by many, ClydeTrade has many red flags for us to disclose. If you are here with the intention of knowing whether ClydeTrade is a scam or not, read ClydeTrade review till the end and you will get your answer. To read more of such scam brokers’ reviews, visit our website.
Founder: Not Disclosed
Minimum Deposit: $250
Demo Account: Not Available
In this section of the clydetrade.co review, we will be discussing all the red flags hidden by ClydeTrade.
Is ClydeTrade regulated by any of the regulations?
In the financial market, no brokerage firm can legally function without regulation. If a company does not have a license, it does not fall under the supervision of any of the regulations and therefore is not safe to trade with. In our case, ClydeTrade does not reveal anything at all about its regulation or licensing. However, the fact that ClydeTrade is based in Dominica raised our suspicions about the legitimacy of the brokerage firm. A little investigation into the matter made everything clear. ClydeTrade is UNREGULATED. The company does not have a license and has been lying blatantly to the customers.
What is the leverage offered by ClydeTrade?
Leverage is yet another important factor used to determine whether a company is legit or not. All the regulated brokerage firms provide leverage under 1:50 or 1:30 as per the limits set by regulations and the countries. However, the unregulated brokerage firms follow no such rules and intentionally offer high leverages to lure in customers. In our case, ClydeTrade offers leverage of 1:300 which is unbelievably high as compared to the normal limits set by the regulations. This is yet another red flag revealed in this clydetrade.co review.
Is ClydeTrade blacklisted?
ClydeTrade has recently been blacklisted by the CNMV. In their warning, CNMV stated that ClydeTrade is a potential scam and everyone should stay away from this unregulated brokerage firm.
What is the minimum deposit demanded by ClydeTrade?
The minimum deposit demanded by ClydeTrade is the one common amount that is demanded by all the scam brokers. ClydeTrade demands a minimum deposit of $250 from their customers. This is a very high amount to be demanded by a brokerage firm and therefore reveals yet another red flag in this ClydeTrade review.
Conclusion: Is ClydeTrade a scam or legit?
To sum up, all that has been stated above, we leave it upon you to decide whether ClydeTrade is a scam or not. As it is already blacklisted and unregulated, we advise you to steer clear of ClydeTrade. If you have been scammed by ClydeTrade, file a complaint with us and we will help you.
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