Note: TradeClan official site - https://tradeclan.by/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is TradeClan？
TradeClan, is a Belarus-based broker offering a diverse range of financial instruments, including forex currency pairs, stock, indices, futures contracts, commodities, bonds and securities of popular brands. Moreover, the broker is currently under NBRB regulation with license no.193618546, which lends some credibility of its regulatory compliance. However, the non-functional website poses reliability and credibility issues, increasing investment risks.
In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. At the end of the article, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding.
Pros & Cons
TradeClan boasts several advantages for traders, including being regulated by NBRB, ensuring compliance and trustworthiness. The availability of the MT5 trading platform enhances user experience with its advanced features and versatility. The provision of a demo account allows traders to practice and familiarize themselves with the platform before committing real funds. Additionally, the 24/7 service ensures that traders have access to support and assistance whenever needed. Moreover, TradeClan offers a wide range of market instruments, catering to diverse investment preferences.
However, the platform faces notable drawbacks. The unavailability of the website raises concerns about accessibility and reliability. There's also a perceived lack of transparency, undermining trust among users. Additionally, the high minimum deposit requirement of $300 deter some traders from opening accounts with TradeClan, limiting accessibility to those without substantial capital.
Is TradeClan Safe or Scam？
When considering the safety of a brokerage like TradeClan or any other platform, it's important to conduct thorough research and consider various factors.
Regulatory sight: The broker operates under NBRB (National Bank of the Republic of Belarus) regulation with license number 193618546, which adds a level of credibility. Nonetheless, the website's inaccessibility raises concerns about reliability and poses risks for investors.
User feedback: To get a deeper understanding of the brokerage, it is suggested that traders explore reviews and feedback from existing clients. These shared insights and experiences from users can be accessed on reputable websites and discussion platforms.
Security measures: So far we have not found any security measures over internet for this broker.
In the end, choosing whether or not to engage in trading with TradeClan is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.
Market Instruments
TradeClan offers an extensive range of financial instruments, catering to diverse investment preferences.
Forex Currency Pairs: Traders can engage in the dynamic world of foreign exchange trading, with access to major, minor, and exotic currency pairs. Whether trading EUR/USD, GBP/JPY, or AUD/CAD, investors can capitalize on fluctuations in exchange rates to profit from market movements.
Stocks: TradeClan provides access to a wide array of stocks from global markets, enabling investors to trade shares of renowned companies such as Apple, Google, and Tesla.
Indices: Investors can trade on the performance of entire markets through indices such as the S&P 500, NASDAQ, and FTSE 100. These instruments allow traders to speculate on the overall direction of major stock exchanges, providing opportunities for portfolio diversification and risk management.
Futures Contracts: TradeClan offers futures contracts on various assets, including commodities, indices, and currencies. Futures trading enables investors to hedge against price fluctuations and speculate on future market trends, leveraging margin to amplify potential returns.
Commodities: Traders can access a wide range of commodities, including precious metals like gold and silver, energy products such as crude oil and natural gas, and agricultural products like wheat and corn. Commodities trading provides diversification benefits and allows investors to participate in global supply and demand dynamics.
Bonds: TradeClan facilitates trading in bonds, offering fixed-income securities issued by governments, corporations, and municipalities. Bonds provide investors with regular interest payments and serve as a valuable component of a balanced investment portfolio.
Securities of Popular Brands: Investors can trade securities of well-known brands, including stocks and bonds issued by leading companies across various sectors. This category encompasses a diverse range of assets, providing opportunities for capital appreciation and income generation.
Account Types
TradeClan offers a variety of account types to cater to different trading needs and budgets.
Firstly, the broker provides a demo account for both novice and experienced traders to practice their trading strategies without risking real capital.
For those seeking a premium trading experience, the Premium account requires a minimum deposit of $10,000, offering maximum leverage of 1:100.
Traders with a more moderate budget can opt for the Gold account, which requires a minimum deposit of $500.
For beginners or those looking for a lower entry point, the Standard account requires a minimum deposit of $300.
Leverage
In terms of leverage, TradeClan offers a maximum leverage of 1:100 across all account types. This allows traders to amplify their trading positions, increasing both profits and risks. However, it's important for traders to understand the implications of using leverage and to employ proper risk management strategies to mitigate potential losses.
Spread & Commission
When it comes to spreads and commissions, TradeClan offers competitive pricing across its account types. While the minimum spreads vary between accounts, with the Premium account offering the tightest spread at 0.5 pips, the Gold account at 0.7 pips, and the Standard account at 1.2 pips, the commission structure is not disclosed. Traders should seek clarification from the broker regarding any commission fees associated with their chosen account type and trading activities.
Trading Platofrms
TradeClan provides its traders with access to the widely acclaimed MetaTrader 5 (MT5) trading platform, renowned for its advanced features and user-friendly interface.
MT5 offers a comprehensive suite of tools for analyzing financial markets, executing trades, and managing positions with efficiency and precision. Traders can access a vast array of technical indicators, charting tools, and customizable trading strategies to suit their individual preferences and trading styles.
With support for multiple asset classes and order types, including Forex, stocks, commodities, and indices, MT5 empowers traders to diversify their portfolios and capitalize on opportunities in global markets.
Additionally, the platform's mobile compatibility ensures traders can stay connected and manage their accounts on the go, providing flexibility and convenience in their trading endeavors.
Deposit & Withdrawal
TradeClan offers its traders a variety of convenient payment methods for both account replenishment and withdrawal of funds.
Traders can choose from options such as bank payment cards via WebPay, direct bank transfers, and ERIP for cardholders of Belarusian issuing banks. The company reimburses the deposit fee, making it cost-effective for traders to fund their accounts.
Deposits made through these methods are typically credited the next day, although bank transfers take 1-5 days for funds to reflect in the account. Additionally, deposits can be made in different currencies, depending on the chosen payment method, providing flexibility for traders worldwide.
Withdrawals are processed using the same methods as deposits, except for ERIP, and typically take up to 5 days to complete. Each payment method has its own minimum withdrawal amount and commission fee, ensuring transparency and flexibility for traders when managing their funds, traders should seek for direct clarification from the broker before tapping into actual trading.
Customer Service
TradeClan provides comprehensive customer service, including email, phone and address.. With round-the-clockavailability, traders can access assistance anytime, ensuring prompt resolution of inquiries and support for optimal trading experiences.
Address: Prospekt Dzerzhinskogo 104a Minsk, Belarus.
Email: info@tradeclan.by.
Tel: +375 29 199 88 99.
Conclusion
TradeClan, headquartered in Belarus, offers a comprehensive range of online trading services, including Forex currency pairs, stocks, indices, futures contracts, commodities, bonds, and securities of popular brands. The broker's NBRB regulation status adds credibility to its operations. However, concerns arise due to the inaccessible website, raising questions about its operational status.
In light of these issues, we recommend exploring alternative brokers that prioritize transparency, regulatory compliance, and exemplary customer service, despite TradeClan's regulatory oversight.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-01-16 12:17
2023-12-25 19:43
