Trade360 Review 2024
Website: www.trade360.com
Min. Deposit: US$ 100
Leverage: 1;30 | 1:500
Trading Platforms: MT4 and CrowdTrader
Regulation: CySEC
Headquarters: Cyprus
Founded: 2013
Regulatory Licenses:
- Crowd Tech Ltd - authorized by CySEC (Cyprus) registration no. 202/13 - not active
Updated on February 1, 2024
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At Broker Insight, our review methodology for evaluating brokers is comprehensive and multi-faceted, ensuring a well-rounded analysis. We start by examining the broker's regulatory compliance and background, assessing the security and reliability of their operations. This is followed by a thorough evaluation of the range and diversity of trading instruments and markets offered, as well as the variety and suitability of account types available for different trader profiles. We delve into the trading platforms and tools provided, focusing on user experience, functionality, and technological robustness. Fees, spreads, and overall cost structure are scrutinized for transparency and competitiveness. A key component of our review involves testing the effectiveness and responsiveness of customer support. Additionally, we consider the ease and efficiency of the deposit and withdrawal processes. Finally, we incorporate real user feedback and the broker’s community reputation into our assessment to present a holistic and unbiased review that serves as a valuable resource for traders seeking reliable and insightful broker evaluations.
Trade360 stands as a renowned international brokerage firm, initially founded in 2013 on the offshore Marshall Islands. Its creation was driven by a group of trading entrepreneurs and technology experts with a vision to democratize the trading environment, making trading accessible globally. In response to growing demand for regulated trading platforms, Trade360 expanded its operations, establishing branches in Cyprus and Australia. This strategic move enabled European and Australian traders to participate in secure trading activities under the regulation and oversight of local authorities, thus offering safe investment opportunities. The acquisition of previously established financial brokers in Cyprus and Australia marked a significant step towards this goal. Our Trade360 review delves deeper into trading details, emphasizing the importance of engaging with entities under stringent regulations.
Pros
Regulated by CySEC and ASIC, ensuring high levels of security and compliance
Offers a broad range of trading instruments
Accessible to European and Australian traders under regulated entities
Cons
One entity still based in the less regulated offshore Marshall Islands
Complex fee structure and trading conditions may be challenging for beginners
Trade360 has established itself as a legitimate trading platform with a long history of operations. Initially an offshore firm, it has since acquired licenses from CySEC and ASIC, significantly reducing forex trading risks. The presence of regulated entities in Cyprus and Australia, adhering to ESMA rules and customer protection, enhances its legitimacy. However, it maintains an entity in the Marshall Islands, where regulatory oversight is minimal. Traders are advised to open accounts with the regulated entities of Trade360 to benefit from stringent customer protection rules and safety layers.
Leverage levels at Trade360 vary according to the entity and the regulatory obligations imposed by authorities in different jurisdictions. European traders face lower leverage due to restrictions, while Australian traders can access higher leverage ratios, beneficial for both retail traders and professionals. The international proposal also permits high leverage, but traders are cautioned to use it wisely to prevent potential losses from multiplying significantly. Leverage options include:
1:500 for professionals,
Up to 1:30 for retail traders through the Cyprus entity,
A maximum of 1:500 for Australian trader entities.
There are five distinct account types offered, starting with a minimum deposit of $250 for the Mini account and escalating up to $50,000 for the premium Diamond account. Additionally, an Islamic account is available upon request, which requires a minimum deposit of $10,000. However, it's worth noting that the Mini account does not support the MT5 trading platform. As clients upgrade their accounts, they gain access to a choice of platforms and receive added benefits such as push notifications and exclusive market updates directly from the broker.
Trade350's trading costs are primarily incorporated into a variable spread across all account types. Those with higher-tier accounts benefit from lower spreads, and there's the possibility of negotiating a tailored solution to fit specific trading needs. Besides the spread, traders should also be mindful of other potential fees such as funding and inactivity charges. For a detailed breakdown of Trade350's fee structure, it's advisable to consult their fee table.
Spreads at Trade350 are variable, reflecting market conditions, and tend to decrease as one moves up to higher-grade account types. However, it has been observed that even for the highest-tier accounts, Trade350's spreads are generally higher compared to standard accounts at other competing brokers. Detailed information on spread conditions is not readily available on the website, making it hard to find precise statistics on spreads. Prospective clients might find it beneficial to explore the broker's offerings through a Demo account for a more accurate assessment of spread conditions.
Trade360 specializes in technology-driven solutions, offering Contracts for Difference (CFDs) on a wide range of assets including Currency Pairs, Commodities, Stocks, and Indices. While CFD trading simplifies access to various markets, it's crucial for traders to thoroughly understand how these instruments work, particularly when leverage is employed.
In the final analysis of our Trade360 review, we delve into the funding methods that enable you to deposit funds into your trading account.
Deposit Options
There are several deposit options at your disposal for funding your account, with the most common methods being supported. However, it's important to check the specific conditions and legal requirements within your jurisdiction, as available methods and minimum deposit requirements may vary according to the entity's regulations.
Bank wire transfers
Credit and Debit Cards
Skrill and eWallets
Minimum deposit
The minimum deposit requirement at Trade360 is $100 for a Standard account, while the international offering sets the minimum at $250 for a Mini account, indicating variability in conditions. Furthermore, each account type comes with its own specified minimum threshold, which determines the account size.
Comparing Trade360's minimum deposit with other brokers reveals a more accessible threshold:
Trade360 - $100
Most Other Brokers - $500
Withdrawals
Trade360 does not specify any charges for deposits or withdrawals. However, your bank or payment provider may impose fees due to international banking policies, so it's advisable to consult with your provider regarding potential fees. Withdrawal options include bank transfers, e-wallets, and credit/debit cards.
Web Trading
Trade360, operating as a fintech company, has also developed CrowdTrader, an intuitive web-based platform. The platform offers a vast array of assets for trading, along with robust customization tools, making the software highly commendable.
However, traders looking to utilize the popular MetaTrader5 platform can do so, except for those holding Mini accounts, as MT5 is not supported for these accounts.
Mobile Platform
To ensure traders can manage their portfolios on the move, Trade360 has introduced its Trade360 app, compatible with iPhone, iPad, and Android devices. This app provides a highly convenient way for traders to stay in control of their investments at any time.
Desktop Platform
Trade360 allows for both manual and automatic market trading, as well as engagement in Social Trading through Copy Trader or Copy Master accounts, accessible via Desktop Platform. This feature enables you to profit from trading by simply copying orders from master accounts, without needing any trading knowledge. The MT5 platform, in particular, offers an advanced trading experience, including innovative features, virtual servers, and professional-level analysis.
Trade360 has established a customer support service that is accessible in every region it operates. Its objective is to provide traders with relevant and high-quality answers. The support team can be contacted during working hours through Live Chat, Emails, or phone lines.
Trade360 currently does not offer educational courses or materials, which are crucial for beginners. There are no online trading courses or webinars with educational content. The only resources available to traders are research tools included within the platforms and the Daily Market report accessible online. However, a social trading option is available, through which trading ideas can be shared.
Our review of Trade360 has led us to understand that the broker's trading conditions are favorable for traders interested in trading CFD instruments and engaging in social trading via the proprietary platform or MT5. There are options to trade manually or copy trades from Copy Accounts, enhancing investment opportunities. However, those in need of educational resources are advised to seek out another regulated broker.
Despite this, there have been some negative reports and experiences associated with the broker, particularly with the international entity. Therefore, we strongly advise investors to conduct thorough research before opening an account with Trade360 and to only sign up with Trade360's regulated entities in Cyprus or Australia.
Trade360 Update
Following our extensive research among 1000 brokers, we found that Crowd Tech Ltd has currently halted the opening of new trading accounts. However, existing account holders will continue to receive services. We recommend existing clients consider closing their accounts as well, given the uncertainty surrounding the broker's future operations.
Based on our over a decade of trading experience and expertise, prioritizing the safety of your funds is paramount. We suggest opting for reliable brokers with top-tier regulation and favorable conditions, such as FXTM, HFM, or FP Markets.
