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Trade360 Review – Is it scam or safe?
RECOMMENDED FOREX BROKERS
1.8 pips on EUR/USD
1.8 pips on EUR/USD
1.8 pips on EUR/USD
1.8 pips on EUR/USD
1.8 pips on EUR/USD
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.
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 2020, 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.
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.
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.
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.
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).
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.
Trade360 is a well-regulated innovative broker that offers unique online trading service, Crowd trading, on its proprietary platform. To sum up the above, here are the advantages and drawbacks with regards to this broker:
|Unique trading service offered: Crowd trading||No option to open multiple accounts|
|Competitive fixed spreads|
|Well-regulated||No account management services|
|No commission or withdrawal fees||Fixed spread only|
|High leverage levels|
|Attractive promotions available|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Trade360.com Review Visit site
Trade360 is a forex broker. Trade 360 offers the MT4 and Mobile trading currency platforms. Trade360.com,offers over 45 currency pairs, cryptocurrencies, stocks, indices, gold, silver, commodities and cfds for your personal investment and trading options.
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Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.
Pros and Cons
Trade360 CrowdTrading is a Cypriot broker domiciled in Cyprus and regulated by CySec (Cyprus Securities and Exchange Commission). Cyprus is a regulated and well known domicile for brokerages. They are also covered by MiFID regulation. Trade360 is under constant scrutiny and review.
Trade360 offers a demo account as well as a real money account.
The minimum deposit required to open an account is $250, which is quite low and accessible. Certain selected individual stocks are available to trade. Leverage offered ranges from maximums of 400:1 on commodities, 20:1 on stocks, 50:1 on indices and CFDs, and 400:1 on Forex currency pairs. This is a large amount of leverage to offer, and of course customers do not have to use it all as the minimum position sizes are reasonably small (microlots are offered on Forex pairs).
The wide range of assets offered for trading is without question beyond the offering of most comparable brokers, providing the trader with plenty of choice regarding what to trade. Even taking the Forex by itself, an extremely wide range of pairs are offered.
The spreads offered on most of the tradable instruments are not the highest out there, but they are certainly not the tightest. They are reasonably competitive for traders wanting very high leverage with low deposits.
Accounts may be set up very quickly by sending initial copies of required documentation by email, and can be funded by Credit or Debit Card, eWallet, or Bank Wire. Withdrawals take between 3 and 10 business days, and are paid out using the same method in which the original deposit was made.
Accounts may not be opened by U.S. citizens.
The most unique feature is the “crowd trading” style of the platform offered, which is available both as an easy-to-se intuitive web-based interface requiring no download or maintenance, and as a mobile / tablet application available from the Apple App Store and Google Play.
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Trade360 set out the logic of the Crowd Trading style by claiming that scientific research suggests that large samples of people faced with the same choice simultaneously tend to produce a statistically accurate average choice. The platform works as follows: “We monitor the trading positions and movements of different segments of Traders, and present them in an aggregated approach that’s easy to understand. By examining the crowd’s movements before opening a trading position, our Traders are able to make confident, well-informed trading decisions.”
This is expressed in the platform’s layout. You can select which assets to display as tickers. The layout is very clean and easy to read, you see the bid and offer prices for each that are currently in the market. At the bottom of each ticker, the percentage of traders positioned long or short of that asset is displayed in real time. This makes it easy to see at a single glance what the crowd is thinking about any instrument you are considering trading.
A quick glance at the default screen set-up by this reviewer indicated that the strongest crowd opinion was over the S&P 500 Index. 67% of traders with open positions are long, showing a clear crowd opinion. As it happens, this market is in a long-running bullish trend, which is in agreement with the crowd consensus.
This crowd sentiment feature is augmented by a ticker running down the right side of the default screen layout which highlights breaking news regarding sudden swings in crowd sentiment. This means that you do not have to keep scanning through all the instruments minute-by-minute to keep an eye on what the crowd is thinking. These “breaking news”-style sentiment shifts are also accompanied by a little commentary explaining how quickly the shifts are occurring. Examples are shown below:
Instrument “lookups” are available ranked by popularity, volatility, and % daily change.
When you select a particular instrument to trade, it opens up with a new view which shows the net amount of traders long and short from your country, as well as globally.
This new view also shows a technical chart which frankly is rather limited. Only a very few indicators and other technical studies are available, and time frames are limited to 5 minutes, 1 hour, daily and tick charts.
On the positive side, a choice of several languages is available.
Facebook and Google+ accounts may be linked in to the trading account, allowing an extra and external social dimension to the trading experience.
Trade360 CrowdTrading Bonus
A cash bonus of $50 is currently offered to new traders opening real accounts. There is also a $60 bonus for participating in their Practice Area, as well as a cashback per trade offering.
Customer Support Services
Trade360 offers a wide range of support services, with the exception of any kind of managed account or investment advice:
There is no live chat function at present. Support is given by telephone and email.
The key positives in Trade360’s offer are low minimum deposits, an extensive crowd sentiment feature, a very wide of assets and an easy-to-use, intuitive trading platform.
The feature which really stands out with this broker is the CrowdTrading™ feature. Through the trading platform and mobile application, you as a trader are continuously alerted to whenever the following occurs:
This is a rare feature, based upon scientific research which can give an intelligent trade a basis to build a market edge.
Proprietary Web Trader
Trade360 offers one single trading platform: an advanced web based proprietary trading platform. The platform is entirely web-based, requiring no download or software installation. The platform has a built-in, sophisticated charting package and includes one-click trading. It is certainly intuitive and easy to use, and very unlikely to cause any navigation problems for anyone.
The platform includes an innovative social trading element, where within the actual platform itself you can see what the crowd is doing, giving traders the chance to learn from other traders and exploit the wisdom of the crowd.
Trade360 offers its proprietary platform as a mobile application free of charge, 24 hours a day and is available wherever there is mobile coverage. It provides live prices and charts, up to the minute market news and analysis, the ability to trade on the go. All the same functionality as the web-based platform is offered.
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