Trade360 Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Trade360 Review.
Trade360 Review
Trade360 offers 5 account types, based on the client’s initial deposit.
All account holders receive live crowdtrading feed on the CrowdTrader platform and are able to trade with leverage up to 1:400 (for currencies) and relatively low fixed spreads with no commission fees. Besides, all of them are entitled to cashback rewards.
Gold, Platinum and VIP account holders get some extra services such as SMS notifications and signals, as well as increased cashback rewards.
What is more, Islamic (swap-free) accounts are available at Trade360 upon request.
Crowd Trading
Trade360 has revolutionized the markets by establishing a unique innovative method in the world of online trading, called Crowd trading.
The CrowdTrading Algorithm comprises a number of tools that identify patterns in traders’ activity and displays sharp changes on specific assets, thus helping traders make profitable informed trading decisions.
Though it shares some common features with Signals trading, Crowd trading actually is a different thing. You don’t copy the trades of a particular signals provider, but instead follow a whole market trend, formed by a group (crowd) of traders at a certain time.
Crowd trading is based on the concept of the Wisdom of the Crowd – a belief that collective knowledge of a large group of individuals tends to be more accurate than that of a single expert.
The Company. Security of Funds
Trade360 offers trading in wide range of financial instruments: more than 40 currency pairs (bitcoin included), CFDs on commodities, indices, stocks, and ETFs. They are all available for trade on the company’s in-house trading platform.
Founded in 2013, Trade360 is the brand name of MPF Global Markets Limited, a Cyprus Investment Firm (CIF) – which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
The Cypriot financial watchdog applies certain requirements to license holders and sees to compliance with the rules set. For instance, the Commission requires forex brokers to hold at least €730,000 as a proof of financial stability. Besides, customer funds must be held in segregated accounts, separate from the company’s operational ones.
As a further guarantee to clients’ funds, all CySEC-regulated brokers are members of the Investor Compensation Fund, which is able to pay compensation to its covered clients up to 20,000 EUR, in the event of broker insolvency.
Moreover, every CySEC-regulated investment company is also MiFID compliant and therefore entitled to provide cross-border services within the EU under the MiFID Passporting Regime.
Trading Conditions
Minimum Initial Deposit
In order to open an account with Trade360, traders have to invest a minimum of $100. Such minimum initial amount is relatively low, especially taking into account the innovative services, offered by this broker.
Spreads & Commissions
Trade360 offers fixed spreads, which amounts to 1.8 pips for the EUR/USD pair, which is a low value, as most fixed-spread brokers offer spreads of 2 pips (or higher) for this currency pair.
What is more, Trade360 charges no commissions, as is usually the case with most fixed-spread brokers, who get remuneration for their services through the spread.
Leverage
The maximum leverage level offered by Trade360 is 1:400, which is considered a comparatively high ratio. However, many Cyprus-based brokers offer even higher levels – for example, XM provides leverage up to 1:888 and FXTM – up to 1:1000. Check out a list of brokers, providing leverage equal to or exceeding 1:500 here.
Nonetheless, we advise traders to exercise caution when trading on margin, as higher leverage involves greater risk of losses, which may even exceed the initial investments.
Trading Platform
Unlike most brokers, supporting the common MetaTrader 4 platform, Trade360 offers its in-house platform, called CrowdTrader. As it is entirely web-based, you can trade from wherever they happen to be in the world, and what is more, you can log with your Facebook or google account. Of course there are mobile apps for iPhone, iPad, and Android.
CrowdTrader is in fact one of the simplest trading platforms that we have come across. The trading screen is presented as a large viewing window where the assets are displayed. Each of the instruments is equipped with a chart (with numerous tools and indicators), which pops out with a single click. One of the advantages of the platform is the Wisdom of the Crowd feature – it simply says “55% say sell – 55% say buy” for a given currency pair (in real time).
The essence of Trade360’s crowdtrading platform is the live feed of trading ideas for various instruments, which is on the right side of the trading screen.. It displays the type of asset, market conditions, such as “Growth in trading”, “Surge in Openings”, “moving fast”, etc., as well as the recommended actions (simply SELL or BUY).
Promotions
Practice account holders may earn up to $60 in real money. After switching over to Real Mode and registering, the bonus earnings will be added to the live account.
There is also a $50 welcome bonus, available to clients who register their correct telephone number and trade a minimum of $1,000,000.
Besides, the broker provides Cashback rebate program up to $360.
Methods of Payment
The following payment methods are available to Trade360 clients: Debit/Credit Card, Online & Local Bank Transfer, as well as popular e- wallets Skrill & Neteller.
This broker charges no deposit/withdrawal fees.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Trade360 Review Conclusion
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