Website: https://clydetrade.co/
Address: Commonwealth of Dominica
Regulated By: None
Warned By: National Securities Market Commission (CNMV)
Introduction to Clyde Trade
The company offers brokerage services to its clients throughout the world. Their site claims that their team consists of only professionals with years of experience with alternative finance, brokerage, and banking solutions. On their website, they claim their aim is to keep traders safe when they are trading in volatile conditions. The customer should get the finest trading experience in the field.
The broker-owner is Tetris Group Ltd. Foundation year is 2021. It is headquartered in the Commonwealth of Dominica. Dominica is notorious for sheltering illicit trading companies. Checking the FSU, shows both the company and broker are not licensed or registered in Dominica.
Unauthorized
They are not authorized by ASIC, FCA, BaFin, or any other Tier1 regulators, this means the company operates illegally. Companies that want to provide financial services in the USA, the UK, Canada, Spain, or for that matter, any country should have a license. Having a license means that the company has compensation funds to use in case there is any problem in withdrawing funds.
Account types
Accounts types offered are simple plan (for beginners, USD 250), advance plan (for experienced, USD 2000), and professional plan (for professionals, USD 20,000).
Clyde Trade does not entertain investors from a highly developed country
A Clyde Trade Ltd does not accept investors from the USA, Japan, Canada, Israel, France, Ukraine, UAE, Iraq, Iran, and Afghanistan. Note that Clyde Trades scam does not allow investors from highly advanced financial markets because being a scam broker is worried about being caught/suspended. It also does not operate from war-torn zones, as it will not get sufficient funds and a number of investors.
Trading markets
Trading markets offered by the company website are indices, forex, stock, metals, and energies.
Indices
One can trade on various indices like US Wall St 30, US SPX 500, US Nas 100, UK 100, Europe 50, Germany 30, Hong Kong 33, Australia 200, France 40, Japan 225, Singapore 30, Swiss 20, Netherlands 25, and Russ 2000 on Clyde Trade website.
Forex
In forex markets, one can trade in currency pairs. Traded are major currencies, minor currencies, and exotics.
Stocks
For the stock market, Clyde Trade review claims to charge low commission or zero commission. One can trade stocks globally in 40+ market centers. It offers tools, order types, and a professional trading platform.
Metals
Clyde Trade offers trading in precious metals like Gold, Silver, and Platinum. One can also trade in precious metals options, spot prices, and futures.
Energies
It is virtually like trading in commodities. Most energy-traded commodities are gas, coal, power, crude oil, and its derivatives. Mostly used as a hedge. These commodities are speculative in nature. The contracts can be in the form of over-the-counter, options, and futures. Derivatives such as swaps, swap options, forwards, and options.
Deposits
The client can deposit money through a debit/credit card, wire transfer, or any crypto wallet.
Clyde Trade Scam
Several regulators have received complaints against the Clyde Trade scam. The regulators have added Clyde Trades to the blacklisted list. First, one to do was Spanish (Comision Nacional Del Mercado De Valores) regulatory body. Italian CONSOB followed the Spanish regulator. And was followed by FSMA, the Belgian regulator. Clyde Trade committed most of its scams in the UK, Italy, Bulgaria, and Romania.
Play safe
One should prefer a payment method by bank transfer. There is something to fall back on. One can contact the bank for help if brokers are being fraud. Immediately change your user name and password to limit your loss if you have been scammed. There is no guarantee that the banking channel will be able to help you much.
Never deposit money through a cryptocurrency wallet, as the transactions are undetectable and hence are non-refundable.
Go through our section “scam broker 2022” on our website. Do review the company’s list before investing.
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