WikiFX Scam Alert: Plz Stay Away From ClydeTrade!!!

Investors who are still trading forex at ClydeTrade had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

First of all, let us start with the most important - the Italian financial regulator CONSOB has issued a warning on October 10th against ClydeTrade.com, which is run by Tetris Group LTD, and has blacklisted this specific website. You may check the screenshot below:

It states that the firm has been offering its services on the markets of Italy without the necessary authorization by the regulator, which has then blacklisted it. Such a warning is a definite proof that we are dealing with a scam!

What's more, WikiFX found that previously ClydeTrade (another website clydetrade.co/es/ run by the same company, Tetris Group LTD) was also blacklisted by the Spanish financial watchdog, the CNMV. If two respected financial regulatory bodies have considered the broker dangerous enough to issue a warning on it, you should definitely think twice before investing any sort of money!

WikiFX also paid a visit to the broker's official website to learn more. ClydeTrade is based in the Commonwealth of Dominica. The laws of this country do not recognize forex trading as a separate industry. Because of that, there are no specific rules in the sphere – locally registered brokers are not obligated to meet any requirements or answer to strict authorities. As you can probably guess, the country has become particularly attractive to scammers for that reason.

Furthermore, ClydeTrade claims to offer a web-based trading platform. Nevertheless, when WikiFX tried to access the brokers Webtrader, WikiFX got a 404 missing page message. Because of this malfunction, WikiFX could not actually try out the platform ourselves.

ClydeTrade also offers some sort of bonus – but if you take one look at the brokers Terms and Conditions, you will find out that those bonuses come with many strings attached.

If your account has been credited with a bonus, you would have to reach an enormous turnover – 25 times the bonus amount plus your deposit – in order to withdraw funds from it. This includes not only the bonus but also your own profits and deposits. Needless to say, no legitimate broker would ever try to prevent you from withdrawing your own money – but this is something scammers would often try to do. By creating turnover thresholds that would be impossible to reach even for the most experienced of traders, they try to delay the moment when you place a withdrawal request – only to find out that your money has already been stolen!

Now let's search “ClydeTrade” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX, ClydeTrade currently has no valid regulatory license and the score is rather negative - only 0.99/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in ClydeTrade. The so-called brokerage is actually a scam website, which has drawn the ire of the Italian authorities, who warn against using its services.

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.