Klips Review: In-Depth Assessment of the Broker’s Services

Not all brokers are like STB Markets and operate unregulated. However, many of them are, which is why research is important prior to committing. Our Klips review will uncover everything from regulation and reviews to features and pricing, to help you make well-informed decisions.

Klips is a brokerage company located in Cyprus and regulated by CySEC, however, the reliability of this company isn’t certain. Checking the website, we noticed they advertise free signals along with brokerage services, so we had to check them out.

Make sure to stay until the end to get your answer and determine if Klips is the right broker for you. If not, we have an amazing alternative so there is nothing you need to worry about. Let’s start.

About Klips

The broker claims to have offices in Cyprus, South Africa, and Israel, however, the address for each location is not provided. In terms of contact, only a web form is provided, indicating a huge lack of transparency. For someone who offers multiple offices, we expected at least a phone number to reach them.

Luckily, before committing, traders can test the service with a demo account. Opening an account is easy, traders are required to visit the Klips website and follow simple steps. Once the account is created, traders will be required to verify themselves, indicating the respect of KYC policy.

Klips Regulation

With license number 434/23, Klips CY Ltd. is a company that the Cyprus Securities and Exchange Commission (CySEC) has authorized and regulated as a Cyprus Investment Firm (“CIF”). It complies with the Markets in Financial Instruments Directive (MiFID) II of the European Union and is a member of the Investor Compensation Fund (ICF).

Having investor protection in terms of a compensation fund is a huge benefit because in case the broker goes out of business, there is nothing to be afraid of as traders are fully protected with ICF. 

While the broker is regulated, CySEC regulation isn’t as strict as ASIC, FCA, or the SEC, so keep that in mind when choosing a brokerage. Also, make sure to avoid suspicious ones like AllCryptoCapital.

Klips Features

Concerning trading instruments, the broker provides more than 600 options covering indices, equities, currencies, and commodities. Through the site, users may simply trade various assets, accessing significant currencies like EUR/USD and USD/JPY as well as well-known equities like Volkswagen, Adidas, and Deutsche Bank. 

Additionally, Klips gives users access to well-known indices like the German 40 and US 100. It prioritizes the user experience by providing a range of trading tools and resources to improve traders’ trading experience, including the ability to search for certain instruments.

The demo account is provided with $100k credits, allowing traders to discover endless possibilities. Additionally, there are also free signals and alerts provided, along with the Klips academy, increasing the pool of instruments this broker has. Klips provides a mobile app, available for both Android and iPhone users.

Klips Price

Unfortunately, the price of the Klips app is not disclosed on the website, indicating a huge lack of transparency. Traders are forced to register first and only then, they will be provided with pricing. Traders are encouraged to test the platform with the demo before leaving their funds.

Additionally, we can’t seem to find anything on the website about pricing and fees, which is a rather inconvenient thing. The minimum deposit is R200, however, traders need to waste time creating an account only to find out the minimum deposit is too high for their needs.

Klips Reviews

Klips is a 4-star rated company on Trustpilot, based on 6 comments. All reviews are 4- and 5-star comments, indicating that the reviews may be fabricated. However, considering the broker was established only recently, the lack of comments may come from there.

On Reviews.io, Klips has over 30 comments and a rating of 4.3. The majority of the comments are positive, however, one 1-star review highlighted a potential scam, as the trader was scammed for his funds. Overall, the reviews look great, and there are no Klips complaints.

Klips Withdrawal and Deposit Methods

You can deposit fiat funds to your account using a credit card. You may also choose another method of depositing from the available payment methods such as Visa, Mastercard, Maestro, SEPA, or wire transfer. There are no fees when depositing your funds, however, there are other unnecessary fees to worry about.

Regarding withdrawals, nothing is explained on the website, not even after registering. Traders are required to register, and deposit funds, and later once the withdrawal is required, reach out to customer support via email. The email is only available for withdrawal requests.

Final Words…

The Klips broker provides a vast array of instruments, along with an academy for education, free alerts and signals, and a trading platform to trade assets. However, the lack of transparency is concerning. The only form of contact is a web form and the information about spreads, pricing, or even leverage is hidden.

Additionally, the reviews about the broker seem to be only favorable, which could be another indication of the lack of transparency. Despite being regulated, Klips doesn’t seem like a reliable brokerage company.

Assets like Klips Forex, indices, commodities, the academy, and many other features keep this broker standing, however, there is something with this company that doesn’t provide any trust. Traders are required to conduct research and due diligence before committing, even after our review.

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