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CliqFX Review - Is it scam or safe?

CliqFX Review - is cliqfx.com scam or good forex broker?

RATING: 1.9 / 1 REVIEWS CliqFX
CliqFX is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit  Minimum trade size Maximum leverage Spreads (& Commission)
Mini $100 0.01 1:500 From 1 pips   
Mini $500 0.01 1:200 From 1.5 pips
Mini $2 000 0.1 1:200 From 0.4 pips + $10 /lot
Mini $25 000 0.1 1:100 Raw spread + $8 /lot

 

CliqFX offers several forex trading account types, in order to suit traders of all skill levels and preferences.  Their clients can choose between commission-free accounts and tighter spreads with commission fees, different maximum leverage levels and minimum trade sizes. In addition, there is a special re Islamic (swap-free) account intended for Muslim traders that does not involve any interest/swap charges on overnight positions. Micro lots are available for trade on mini & Islamic account types.

 

Overall, CliqFX’ trading conditions are typical for an offshore broker – you can start with $100, use high leverage levels, reaching 1:500, and average variable spreads, falling within the range of 1.0 – 1.5 pips on EUR/USD. Yet, we cannot find a reason why one would choose CliqFX over other brokers, licensed FCA or ASIC.

 

Keep in mind that this broker does not accept clients from the U.S. and Japan.

 

The Company. Security of Funds

 

Company

Country

Regulation

CLIQ FX LIMITED

Vanuatu

VFSC

 

A newly-launched broker, cliqFX offers trading in forex and CFDs on the good old MetaTrader 4 (MT4) platform. The broker’s main office is In Dubai (United Arab Emirates), but it is officially incorporated offshore, in Vanuatu.

 

The company behind the brand, CLIQ FX LIMITED., is present in the list of dealers in securities authorized by the Vanuatu Financial Services Commission (VFSC). This, however, hardly means that cliqFX is subject to regulatory supervision and oversight.

 

As most of you probably know, little focus is placed on compliance checking and consumer protection in such offshore zones and therefore, doing business with offshore brokers is very risky.

 

Trading Platforms

 

Like most brokers, this one also supports MetaTrader 4 (MT4), available in all forms and shapes – desktop, web, as well as mobile apps.

 

The MT4 is easy to use and offers a number of technical indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to fully automate their trades.

 

We’ve tried out a Standard demo account and everything seems ok:

 

 

CliqFX’ desktop MT4 platform. Click to enlarge.

 

Methods of Payment

 

cliqFX offers its clients the following payment modes: credit/debit card (Visa, MasterCard, Maestro), bank wire transfer, and e-wallets Skrill, Neteller, Perfect Money, WebMoney and Bitcoin.

 

Conclusion

 

cliqFX is a young offshore broker that provides online trading services in forex and various CFDs on the popular MT4 under reasonable trading conditions. There is not much to be said about the broker, as it is newly established and there is no feedback or user reviews. Here are, in a nutshell, the pros and cons of CLIQFX:

                                                                              

Pros

Cons

MT4 available

Regulated offshore

Competitive spreads

No choice of platforms

Choice of trading accounts

 

 

Latest news about CliqFX
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Traders` reviews for CliqFX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

My opinion

I registered with the company in August 2017 and became IB. I have a website on Forex. I made banner advertising. There are few active customers. There are no problems with payment of commission. I'll order a withdrawal in a week.

Kumar 10/10/2017
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