Trade360 Review 2020
Trade360 is an innovative broker that offers CFDs and forex for trading over the internet via its online platform and MetaTrader 5 (MT5). The brokers proprietary online trading platform features its CrowdTradingTM technology which supports traders by giving insights and data on how other traders approach the markets. Other trading tools such as ‘Trading Central’ analysis and an economic calendar are also provided.
Trade360 Review 2020, Pros & Cons
- Regulated by CySEC
- Trading on robust platforms; MT5 & the brokers proprietary online trading platform
- CrowdTradingTM technology which gives the trader useful information on other traders sentiments
- Multiple account types & deposit options
- Dedicated customer service team
- No services to clients from Iran, Canada, USA, etc.
- No training academy or academic resources.
- Very high spreads when compared to other brokers
- The minimum deposit required to open the basic account type is $250
In this detailed Trade360 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.
Trade360 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 Trade360.
Trade360 Review: Summary
Trade360 is an online forex and CFD broker that was founded by experienced technology experts. Established in 2013, the broker has gained popularity with its innovative technology and proprietary trading platform. It offers over 400 trading instruments on its online platform as well as the advanced and powerful MT5 platform. It is a regulated brand located and lists its addresses in Cyprus, UK and the Marshall Islands.
In its ‘Best execution policy’ document, Trade360 states that its liquidity provider is ‘PX Exchange’ and it is the sole execution venue for all client orders. Trade360 only acts as agents to all clients’ transactions.
Trade360 has been honoured with awards on a few occasions. The awards were in recognition of its excellent services in the area of innovation. In 2016, Trade360 was awarded the “Forex Innovator” award by AtoZforex.com. Again in 2017, Trade360 won the “Most innovative Social Trading Technology” award given at The European Global Banking & Finance awards.
Trade360 Review: Regulation
Trade360 is the trading name of ‘ST Services Ltd’ which is registered in the Marshall Islands. This company operates the global website.
The European arm of Trade360 is operated by Crowd Tech Ltd, which is a company registered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). The license number is 202/13. This license permits it to offer its services to other clients within the EU zone in line with the provisions of the MiFID II directive.
Clients’ deposits should be maintained in segregated bank accounts as directed by the regulator. These funds cannot used by the broker for its day to day operations; rather they can only be used to fund traders’ positions. They must not be used by the broker irrespective of its financial position.
The European clients are protected by the Investors Compensation Fund (ICF) which is like an insurance scheme for Cypriot investment firms. If for any reason, Trade360 becomes insolvent, the ICF pays eligble investors some compensation of up to €20,000 per client.
In strict compliance with its Anti-Money Laundry policy, all clients must be verified before their withdrawal requests can be approved. ‘Know Your Customer’ procedures are used for this verification exercise. It entails providing a ‘proof of address’ and a ‘proof of identity’.
Secured Socket Layer (SSL) encryption technology has been implemented by Trade360 to provide digital security to its platforms, website and payment processing portals. This is to deter hackers and cyber identity thieves who might want to steal clients’ login details, credit card info, or other sensitive information.
Trade360 Review: Countries
Trade360 does not offer its services to residents of Australia, New Zealand, Canada, Iran, North Korea, Belgium, Cyprus and the USA. Some Trade360 broker features and products mentioned within this Trade360 review may not be available to traders from certain countries because of legal restrictions.
Trade360 Review: Trading Platforms
Trade360 Online Trading Platform
This is the proprietary platform that uses an innovative technology known as ‘CrowdTradingTM’. This technology is based on wisdom of the crowd and data analysis from traders. It believes that traders can excel when they know exactly how other traders are approaching the markets in real time. This platform is web based and can run on any operating system that has a web browser. It also has mobile apps and it is available in 10 languages. It is the default platform available to all clients upon registration.
Here are some of the features of the Trade360 platform:
- The ‘buy’ and ‘sell’ prices of all the instruments are displayed in real time.
- Account management options including deposits, withdrawal requests and account verification documents upload.
- Traders’ trends are displayed for every instrument showing percentage of ‘buy’ and ‘sell’ orders, known as the sentiment.
- Advanced charting using 6 chart styles on 10 timeframes from 1 minute to 1 month.
- The live ‘feed’ section shows the crowd generated events such as trend spotting, trend reversal, surge in opening, growth in trading, going up, etc.
- About 115 technical indicators and over 20 analytical tools are available.
- Trading Central analysis is available from the platform.
This is an advanced trading platform built for professional trading of forex and CFDs. The platform is sophisticated, fast and loaded with essential tools for trading and analytics. It is also user friendly which makes it a popular choice for traders of all experience levels. Its capabilities can be extended through the use of plugin apps developed with the MQL5 programming language which is based on C++. Trade360 provides MT5 as a downloadable windows desktop application.
Here are some of the key features of the MT5 platform:
- The market watch window displays the fluctuating values of the ‘bid’ and ‘ask’ prices of all the instruments in real time. This market watch is customizable.
- Advanced charting using multiple chart windows; up to 100 at the same time.
- 3 chart styles display each asset price on up to 21 time frames.
- It has 38 inbuilt technical indicators which can be extended with plugin apps.
- It has the ‘Auto Trading’ feature which activates Expert advisors (EAs); trading robots scripted with the MQL5.
- The ‘Market’ tab gives access to the MQL5 market where traders can buy EAs, indicators, etc.
- The calendar tab displays the economic calendar.
Trade360 Mobile App
This is the mobile version of the Trade360 proprietary platform. It is developed for iOS and Android devices. The app is user friendly and very convenient for monitoring the markets and trading on the go.
The following are some of the features of the app:
- Live quotes of all tradable assets.
- Trade360 innovative CrowdTradingTM technology is fully featured.
- Switch between practice and real accounts with one tap.
- Deposit funds, request withdrawal and view account history.
- Place orders using multiple orders, modify or close orders.
- Set price alerts for favourite instruments.
- Up to 8 chart styles displayable on 10 timeframes.
- Over 115 technical indicators.
Trade360 Review: Trading Tools
This calendar is an important tool in fundamental analysis. It is available on the website and also on the two trading platforms. The economic calendar shows the dates and times of important economic events and their forecasted effects on the financial markets. Traders speculate a lot before and after these events. The calendar also shows the history of past events and their impacts.
This feature is found on the right hand side of the proprietary online trading platform. It keeps updating the trader with market data in real time. Here are its data types:
- Trend Spotting: Shows the percentage of clients buying or selling a particular asset.
- Trend Reversal: displays when there is a sudden change in trend direction of an asset.
- Moving Fast: shows the rapid buy or sell of an asset within a short time interval.
- Surge in Openings: shows when an asset experience more than the normal number of open positions within a time interval.
- Growth in trading: Shows the percentage trading volume of an asset.
- Going Down: Shows the downtrend percentage of an asset
- Going Up: represents an uptrend.
Expert technical analysis powered by ‘Trading Central’ is available at no cost to traders who deposit at least $1,000. Trading Central is a certified financial research firm that provides trading tools and incisive technical and fundamental analysis on a wide variety of trading instruments.
Trade360 Review: Education
There are no educational resources on the Trade360 website. We would have liked to have seen some trading guides, video tutorials, webinars, etc. These could be useful resources to help those who are new to trading online.
Trade360 Review: Trading Instruments
Trade360 offers multiple instruments for trading online. They are as follows:
- 48 Forex Pairs
- 7 Indices
- 39 ETFs
- Over 420 Stock CFDs
- 5 Commodities
Trade360 Review: Trading Accounts & Fees
Trade360 account types depend on the trader’s capital and platforms they wish to use. All accounts have access to trade on the online platform incorporating CrowdTradingTM technology. The MT5 trading platform is also available for all accounts except the Mini account.
The following account types are available:
- Mini account: The minimum balance is $500. Trading signals and live CrowdTrading feed are available. The benchmark EURUSD spread starts from 4 pips.
- Standard360 account: The minimum deposit is $1,000 for the online platform but the minimum deposit for a StandardMT5 account is $500. The EURUSD spread starts from 3 pips.
- Gold account: The minimum deposit is $5,000. Account holders get exclusive market updates, push and sms notifications. The EURUSD spread is from 2 pips.
- Platinum account: The minimum deposit is $10,000. Account holders get the same services as Gold account clients. The EURUSD spread is also from 2 pips.
- Islamic360: The minimum deposit is $10,000. Rollover charges do not apply to this account.
- VIP account: The minimum deposit is $50,000. The EURUSD spread is from 2 pips.
Eligible clients can be classified as Professional clients according to CySEC rules. This comes with increased leverage up to 1:400 and no ICF compensation entitlements. Professional clients’ status is reserved for experienced traders who have huge assets portfolio of $500,000 and above, trade frequently or have professional financial knowledge. It should be noted that professional clients to not get the same protection as non-professional clients as they are deemed to have significant trading knowledge.
Islamic360 accounts are available on request. Practice accounts are available at no risk to the traders and come preloaded with $10,000 virtual currency. These can be a good way to familiarise yourself with the 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 Trade360 review. It is imperative to ensure that you check and understand all of the latest information before you open a Trade360 broker account for online trading.
Trade360 Review: Customer Service
Trade360 customer service department is always available 24/5, when the markets are open. They can be reached on phone, email, fax and through the online web chat facility on the website. A ‘Contact us’ form is also available on the support page of the website. This form can be used by enquirers to ask questions. The support team usually reply via email within 24 hours.
A FAQ page is provided with answers to about 70 questions likely asked by prospective clients. Trade360 is on Facebook, Twitter, and YouTube.
Trade360 Review: Deposit & Withdrawal
Trade360 offers several payment options. The payment options available to you depend on your country of residence. But card payment and Skrill are available to all clients.
Here are the payment options:
- Bank Wire Transfer: This method take 2-7 days depending on the banks involved. The minimum withdrawal amount is $100.
- Debit/Credit Cards: The cards accepted are Visa, MasterCard, Maestro, American express, VisaElectron and LiveKash card. The minimum deposit is $250 and card deposits are processed instantly.
- Online payments: The payments accepted are Skrill, Neteller, Trustly and Paysafecard. Internet deposits are processed instantly.
Trade360 Review: Account Opening
It is very easy to open a Trade360 account. Visit the website and click on ‘Join Us’ to display the form below.
Fill in your name, email, country, phone number, choose a password and click on ‘continue’. You will be automatically logged into the Trade360 online trading platform. Both real and practice accounts are created automatically. You can upload account verification documents, make deposits and start trading online.
Trade360 Review: Conclusion
Trade360 is a broker that focuses it services on the clients. Its award winning innovative CrowdTradingTM technology is designed to help the traders succeed. The brand is regulated by CySEC meaning that it must follow the stringent rules that are implemented to protect investors, which includes client fund segregation, AML, etc.
Over 400 instruments can be traded on its platforms which include the powerful MT5 as well as its proprietary online trading technology with incorporates the CrowdTradingTM technology tools. These tools give clients the necessary trading trends and information on how the crowd (other traders) are trading – known as the market sentiment. The partnership with ‘Trading Central’ is very beneficial as the analysis from the research firm are comprehensive and frequently updated.
Trade360 does not have a free trading academy on its website. The spreads are generally high; up to 2 pips for EURUSD pair when other trading brokers offers spreads from just 0 pips. Most brokers give access to live trading with a capital of $20 or less but Trade360 requires up to $250 before a client can open a live account.
In summary, Trade360 is a brand with a good offering and innovative technology, but the broker could review its charges in order to become more competitive with some of the best online brokers.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63.04% of retail investor accounts lose money when trading CFDs with Trade360. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.