ForexCleaTrade has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Tried to withdraw my funds from ForexCleaTrade and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Blocked my account|No legitimate license|Fake returns
I looked into ForexCleaTrade and found they appear in the regulatory warnings database. Financial Markets Authority has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Flagged by international regulators|Due diligence required
Several red flags with ForexCleaTrade: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I wanted to transfer my portfolio from another broker to ForexCleaTrade. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Tax reports included|Full transparency|Quick verification
Cons: Live chat only during business hours
After using ForexCleaTrade for nearly two years, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Social trading features|Good mobile app
Cons: Wish they had more educational resources|Could offer more webinars
The onboarding at ForexCleaTrade was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: API access|Reliable uptime
Cons: Search feature is basic
After doing some research AFTER the fact (I know, I should have done this first), I discovered that ForexCleaTrade is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
After since last summer with ForexCleaTrade, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Multiple order types|Market news feed|Risk management tools|Excellent charting
Cons: Wish they had more educational resources
The only good thing about ForexCleaTrade is that they remind you why regulation matters. I found them after a family member had a good experience. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Intuitive for beginners|Instant funding
Cons: Some tools only available on higher tiers|No phone support on weekends