Trade.com Review 2020
Trade.com is an online brokerage and investment brand that offers thousands of tradable assets over the internet. A well regulated brand, the broker offers a proprietary WebTrader, MT4 and a mobile app for conducting your daily trading activities. In addition to these powerful and sophisticated platforms, the broker also provides trading central analysis, thematic portfolios and other useful tools. Despite this, they are lacking in educational materials and their spreads are high when compared to many other brokers.
Trade.com Review 2020, Pros & Cons
- Regulated by the FCA, CySEC & FSCA
- Expert analysis powered by Trading Central
- Trading on the popular MT4 & Trade.com proprietary WebTrader platforms
- Traders’ trend tool available on the WebTrader platform
- Managed investments via ‘Thematic Portfolios’
- Clients from USA, Canada, Japan, etc are not allowed
- The spreads are high on lower account types
- Generally, initial deposits are high for the various account types
- No comprehensive traders’ training academy
In this detailed Trade.com review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Trade.com is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Trade.com.
Trade.com Review: Summary
Trade.com is the trading name of Trade Capital Markets (TCM) Ltd and Livemarkets Ltd. It is a multi asset brokerage firm that offers forex and CFD trading, investment and asset management services. The brand was founded in 2013 with headquarters in Nicosia, Cyprus. The broker offers 2,100 assets for trading on its proprietary platform as well as the MT4. Trade.com boasts of over 100,000 active investors.
In its ‘Client agreement’ and ‘Best execution’ policy documents, the broker asserts that it is the sole execution venue of all client orders. The company acts as principal and not as an agent on the client’s behalf. It also reserves the right to change the opening and closing prices of an order and acts as the sole counterparty to clients’ orders. This means that Trade.com operates the market maker brokerage model.
Spread betting is provided on an execution only basis and it is available to UK residents. Clients bet on the direction of the price movement of an asset.
Trade.com Review: Regulation
Trade.com is a brand operated by both Trade Capital Markets (TCM) and Livemarkets Ltd. Both firms are part of the Trade Capital Holdings Ltd.
TCM Ltd, formerly Leadcapital Markets Limited, is registered in Cyprus. It is authorized and regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC). The license number is 227/14. It is also authorized in South Africa by the Financial Sector Conduct Authority (FSCA). The license number is FSP 4785.
Livemarkets Limited is registered in the UK. It is authorized and regulated by the Financial Conduct Authority (FCA). The license number is FRN: 738538.
TCM is a member of the Investor Compensation Fund (ICF). Traders’ deposits are further insured by this scheme. If TCM fails or becomes insolvent, eligible clients are entitled to compensations capped at €20,000 per client.
Clients from the UK are protected by the Financial Services Compensation Scheme (FSCS) which insures clients’ deposits in case the broker goes bankrupt. The FSCS can pay compensations to eligible clients of up to £85,000.
When clients make deposits, it is safely kept in special segregated accounts which are not mixed up with the broker’s funds. Periodically, Trade.com accounts are audited in order to ensure full compliancy. These segregated accounts are not used by the broker no matter its financial position, even if it becomes insolvent, the funds in segregated accounts should not be used for bailout, rather they should be returned to the original depositors.
Trade.com has also implemented the Secured Socket Layer (SSL) technology on its website, payment processing platforms as well as trading platforms. SSL ensures a safe communication channel between the servers and clients’ workstations.
Trade.com Review: Countries
Trade.com states that it does not establish trading account with residents of Japan, USA and Canada. Some Trade.com broker features and products mentioned within this Trade.com review may not be available to traders from specific countries due to legal restrictions. You may find that the products and services offered can vary from country to country.
Trade.com Review: Trading Platforms
This is a proprietary platform built by Trade.com for trading forex and CFDs. It is user friendly and suitable for beginners as well as expert traders. The platform runs on the web browser and can be accessed from any operating system and any device without needing to download or install any additional software. It is also available on mobile; via Android and iOS apps downloadable from their respective app stores.
Here are some of the features of the WebTrader platform:
- Supports multiple charts; even charts of different instruments can be displayed on the same window.
- Real-time asset quotes with price alerts.
- Easily switch between demo and real account.
- Full account management including account deposits, withdrawals and live balances.
- Access to the support team via multiple channels.
- Charting is done with 5 chart styles; Candles, Line, Bars, Area, Heikin-Ashi.
- Charts can be displayed over 10 timeframes from 1 minute to 1 month.
- Tools such as ‘Trading Central’ analysis, economic calendar, etc are available.
- Up to 90 technical indicators are available for analysis.
- Multiple orders and risk management tools like ‘stop loss’ and ‘take profit’.
This is one of the leading platforms for trading forex and CFDs all over the world. Thousands of plugin apps such as trading robots, tools, etc, have already been developed for MT4. This means that many traders continue to use the platform. Many brokers have also adopted MT4 as the industry standard. It is well know for its versatility, ubiquity and capabilities. Trade.com presents the MT4 platform as a downloadable desktop application for MAC and Windows computers. It is also available for mobile devices running on iOS and Android.
Here are some of the MT4 platforms main features:
- Intuitive and customizable interface, charts and windows.
- Ability to perform automated trading via Expert Advisors (EAs) which can be programmed using the MQL4.
- Technical analysis via multiple charts which can be opened over 9 timeframes.
- Up to 30 inbuilt technical indicators and 24 analytical tools.
- Order management, risk management and account monitoring in real time.
- Alert notifications can be set when a certain price is reached or event occurs.
Trade.com has partnered with another brokerage firm ‘Interactive Brokers’ (IBKR) in order to give Direct Market Access (DMA) to its clients. As a result, Trade.com clients will have access to trade over 100,000 assets via the IBKR powered platform which is the IBKR WebTrader. This platform gives clients access to over 125 markets worldwide to trade stocks, options, futures, funds, forex, warrants, etc.
Here are some of the features of the IBKR WebTrader:
- Available in 11 languages.
- Require no downloads and runs on all operating systems.
- Advanced order management.
- Fully customizable to display only favourable asset quotes.
- Market depth shows market liquidity and different prices.
- BookTrader gives access to order book data for selected assets.
- Ability to participate in premarket and post market auctions.
- News and data for each asset.
Trade.com Mobile App
This is the mobile version of the proprietary WebTrader platform. The app features a user friendly interface that enables traders to monitor the markets, open and close trade positions and manage their accounts while on the move. It is available as downloadable apps for iOS and Android and can be downloaded from the respective app stores.
Here are some of the mobile trading apps features:
- Switch between real account and demo account with a few taps on the screen.
- Account funding, withdrawal, identity verifications and live balances.
- Traders’ trends tool which shows what other traders are buying and selling.
- Customizable with price alerts.
- Displays the charts of all assets in real time over 10 timeframes from 1 min to 1month.
- Multiple order types including pending order and risk management tools.
Trade.com Review: Trading Tools
This calendar displays the time and dates of economic events and their estimated volatility and impact on the markets. It also shows the history and the currency affected. Clicking on the events displays further information like the charts, history and overview of the event. The economic calendar is customizable to display only the clients’ favourite event categories, importance, dates and event country.
Trade.com’s Gold, Platinum and Exclusive account holders are given access to ‘Trading Central’ analyses via an MT4 plugin app. ‘Trading Central’ is a leading financial research firm that provides in-depth analysis and fintech solutions on a wide variety of tradable assets. Clients receive automated trading ideas, alerts and expert fundamental and technical analyses on selected instruments.
This is a basket of related assets grouped and traded as a product. Several portfolios are already created by Trade.com experts and offered to investors. Investors can view the portfolio directory and customize it to suit their favourites or style before activating the order. Some of the portfolios are Water tech, Robotics & AI, Global bonds, clean energy, etc. Clicking on the portfolio shows their details like charts and performance analysis. Also, the minimum investment amount, tenure and other stats are displayed. Entry fee of 2% (minimum $250), annual maintenance fee of 1.5% and financial redemption fees are charged. It should be strongly emphasised that their are no guarantees on how these portfolios will perform and past results are by no means any guarantee of future performance.
Trade.com Review: Education
There is no training academy available to clients. The trading brokers review team would have liked to have seen some educational materials to help beginner traders such as tutorial videos, trading guides, webinars, etc.
Trade.com Review: Trading Instruments
The following instruments are available for trading online with this broker:
- 55 Forex currency pairs (minor, exotic & major FX crosses)
- 4 Bonds
- Commodities comprising of 7 metals, 4 energies and 8 agricultural products
- 23 Indices
- Over 2,000 stock CFDs
- 52 ETFs
- 11 Cryptocurrencies
Trade.com Review: Trading Accounts & Fees
Trade.com offers up to 5 account types which gives traders the flexibility to choose from multiple options. Here are the account types.
- Micro account: The minimum deposit required is $100 and the spread for the benchmark EURUSD is 3.0 pips.
- Silver account: The minimum opening balance is $1,000 and the EURUSD spread is 1.9 pips. Dedicated account managers are assigned from Silver account upwards.
- Gold account: The minimum opening balance is $10,000 while the EURUSD spread is 1.5 pips. Customers are provided with premium daily analysis and access to Trading Central services.
- Platinum account: The minimum deposit is $50,000 and the EURUSD spread starts from 1.2 pips. Premier customer support is provided to account holders in addition to other services.
- Exclusive account: The minimum deposit is $100,000 and the spread is 1.0 pip. This is the premium account with all the available services.
Risk free Demo accounts are available to all clients. It is preloaded with virtual funds up to $10,000. This can be a way to try out the different trading platforms and practice your trading strategies.
As broker fees can vary and change, there may be additional fees that are not listed in this Trade.com review. It is imperative to ensure that you check and understand all of the latest information before you open a Trade.com broker account for online trading.
Trade.com Review: Customer Service
The multilingual client support desk is always available 24/5 when the markets are open. They can be reached via instant web chat, email, telephone and on WhatsApp. An ‘enquiry’ form is also available for website visitors and prospective clients to fill the form in order to ask a quick question. The support team responds by email within 24 hours.
Trade.com Review: Deposit & Withdrawal
In line with its Anti Money Laundering policy, Trade.com does not accept cash or cheques. The name on trading account must match the name on the source of funds. Third party deposits are prohibited.
The following payment options are allowed:
- Bank wire transfer: This method is used for deposits and withdrawals. The minimum withdrawal amount is $100.
- Credit/Debit cards: All major cards are accepted such as Visa and MasterCard. The deposits are processed instantly.
- Online payments: The accepted options are SOFORT, Skrill, Neteller, EPS, Giropay, Multibanco, Przelewy24, iDEAL, Safetypay and Epay.bg. Deposits are processed within 24 hours. $20 is the minimum withdrawal amount.
Trade.com Review: Account Opening
To open an account, visit the brokers website and click on ‘Open account’. The form below will be displayed.
Enter your email, choose a password and click ‘Create account’. A welcome message is displayed and you are urged to complete your account. A four-page form displays asking for personal information, financial information and trading experience. A short quiz on trading knowledge is the last page of the form. After filling the form, you are logged onto the WebTrader demo account. You can make a deposit to commence live trading when you feel ready to do so.
Trade.com Review: Conclusion
Trade.com is a multi-regulated broker that is owned by companies belonging to Trade Capital Holdings Ltd; which is an international group in the business of financial investments and brokerage. The broker has put measures in place to help ensure the safety of clients’ fund and a safe trading environment.
Multiple account types are provided so that clients can make a choice based on services desired or trading capital. The proprietary WebTrader platform and the MT4 are suitable for all types of traders. Both platforms are available on mobile devices which is very convenient for those who need to trade whilst on the go. Over 2,100 assets can be traded on the platform and there are investment portfolios. Comprehensive analysis is provided by ‘Trading Central’ on both trading platforms.
Generally, the spreads on Trade.com are very high especially on the Micro and Silver accounts. Also, the account opening deposits are very high when compared to other brokers. It costs $100,000 to open the flagship account on this brokerage when other brokers require about $1,000 or less. There is no traders’ academy, no training resources or eBooks to assist beginners with trading knowledge. You may want to consider an alternative option from our list of best online brokers.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.84% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.