TradeDirect365 is a brokerage company that was set up to provide an affordable and easy way to trade forex and CFDs on cutting edge platforms suitable for different experience levels and trading styles. The broker offers only fixed spreads on its proprietary CloudTrade platform and the popular MetaTrader 4 (MT4) platforms.
TradeDirect365 Review, Pros & Cons
- Regulated brokerage firm
- MetaTrader 4 & CloudTrade trading platforms
- Generous selection of stock trading instruments
- Lack of stand-alone news or market analysis
- Limited instruments outside stocks
- Withdrawals only through bank wire
- Not the lowest spreads
In this detailed TradeDirect365 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.
TradeDirect365 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 TradeDirect365.
TradeDirect365 Review: Summary
TradeDirect365 is the trading name of Finsa Pty Limited. The broker was founded in 2014 by a professional trader in Australia with offices in Sydney and London. The brokers main selling point is its fixed spreads and trading fees since it was set up in the light of the founder’s personal trading experience where he was charged excessive trading fees in the past.
TradeDirect365 offers two trading platforms with the popular MetaTrader 4 platform and its own proprietary web trading platform. Both platforms are easy to use and have an abundance of features. The broker also offers a variety of learning tools including trading articles and videos on its website.
TradeDirect365 has more than 800 stock CFDs with underlying assets drawn from the world’s top stock exchanges. It is also possible to trade all these stock CFDs in the base currency of one’s choice no matter the country of origin of the stock exchange. TradeDirect365 was the first broker to offer this service known as ‘single currency trading’.
TradeDirect365 Review: Regulation
TradeDirect365 is a brand operated by Finsa Pty Ltd which is authorized and regulated by the Australian Securities and Investment Commission (ASIC). It has the license number AFSL No. 422661.
The broker is also regulated in the UK by the Financial Conduct Authority (FCA). This is through its European arm, Finsa Europe Limited. It has the reference number 525164.
TradeDirect365 provides security for its client’s funds by banking them in segregated accounts separate from the company’s own funds. The funds are maintained with a top tier 1 bank, Westpac bank. These funds should never be used for hedging purposes or by the broker for the running of its internal operations. The brand also offers negative balance protection which helps to ensure that clients do not lose more than the deposits in their account.
TradeDirect365 Review: Countries
TradeDirect365 primary market is Australia but accepts clients from all over the world excluding residents of the United States, China or Japan and some other countries where restrictions apply.
Some TradeDirect365 broker features and products mentioned within this TradeDirect365 review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
TradeDirect365 Review: Trading Platforms
MetaTrader 4 Platform
TradeDirect365 offers its clients the option to trade via the popular MetaTrader 4 (MT4), one of the world’s leading forex and CFD trading platforms. MT4 offers traders flexibility, scalability, advanced technical and analytical tools along with automated trading capabilities. Clients can trade forex, commodities and indices on the platform.
MT4 is available for both desktop and mobile devices. The TradeDirect365 MT4 desktop platform can be downloaded for Windows, Mac and Linux operating systems whilst the MT4 mobile trading app can be downloaded from the Apple store for iOS devices and the Google play store for Android devices.
CloudTrade CFD Platform
The CloudTrade CFD platform is the proprietary forex/CFD trading platform developed by TradeDirect365. It comes in two versions; web trader and the mobile version. The web trader version runs on the web browser and requires no downloads or installations. It is always updated and does not depend on operating system. The mobile version is apt for trading on the go. It is designed for iOS/Android devices and can be downloaded from the respective app store. Clients can trade forex, commodities, indices, stocks and cryptocurrencies on this platform.
The CloudTrade platform has a very simple interface that is easy to use. Clients can customize it according to their individual trading preferences. In addition to pending orders, the platform features guaranteed stop losses and automated trailing stop orders. The charting package is powered by ChartIQ; an American based fintech firm that specializes in html charting solutions and general financial software solutions. Over 15 chart styles can be displayed on up to 12 timeframes from 1 minute to 1 month. It comes with over 90 technical indicators and over 30 drawing tools.
The web trader version of the platform can be used on multiple web browsers while the mobile app is available on both the Apple store and Google Playstore for mobile phones and tablet devices.
TradeDirect365 Review: Trading Tools
MetaTrader 4 Trading Tools
All the features on the MetaTrader 4 platform are available to clients of TradeDirect365. These include the charting programs and its built-in trading tools such as technical indicators, expert advisors (EAs) and scripts.
Traders can also create their own customised trading tools using the MQL programming language and MetaEditor interface that is built-in the MT4 platform.
There is also the MetaTrader market where clients get the opportunity to download free and paid external trading tools which they can use on the platform including trading signals, technical indicators and expert advisors.
TradeDirect365 Review: Education
TradeDirect365 has a number of trading video guides on its website that provides detailed information on how to use the CloudTrade CFD platform. The videos teach some important lessons like ‘how to place a trade’, customizing charts, using stop loss, etc.
This page on the TradeDirect365 website is dedicated to the listing of CFD terms and phrases as well as their explanations. This is particularly useful for beginner traders. There are over 60 trading terms included within the brokers trading glossary.
CFD Trading Tips
This section offers more detailed articles on various aspects of trading online. It has around 12 articles which are more of tips on how to become an expert in trading cryptos, how to trade online, CFDs, indices, etc
This is a compilation of commonly asked questions about trading on TradeDirect365. It also includes questions on trading in general so traders can learn from the answers given.
TradeDirect365 Review: Trading Instruments
TradeDirect365 offers the following instruments for trading.
- 34 forex currency pairs
- 14 indices
- 12 commodities
- 3 bonds (Only on the CloudTrade platform)
- 11 cryptocurrencies (Only on the CloudTrade platform)
- 900+ stocks (Only on the CloudTrade platform)
TradeDirect365 Review: Trading Accounts & Fees
TradeDirect365 offers a standard account for client’s personal use. This account was designed for individual traders. It is required that the minimum account balance cannot be less than AUD$100 at any time.
This account was designed by TradeDirect365 for corporate entities and institutional traders. These classes of traders deal with large amounts of money which require a robust platform offering that this account supports.
TradeDirect365 created this account for trust funds and pension funds which handle money on behalf of employees for their future retirement through their self-managed super funds (SMSF).
There is a demo account that clients can use to learn practical trading, test strategies and get a feel of the TradeDirect365 trading environment. On the CloudTrade CFD platform, demo accounts can be accessed with one click. The demo account is preloaded with $10,000 virtual funds.
TradeDirect365 offers competitive trading fees and fixed spreads which start from 0.6 pips and 0.8 pips on EURUSD and GBPUSD respectively. The trading brokers review team did not find these to be the lowest spread when compared with some ECN brokers who offer spreads starting from 0 pips on major currency pairs.
The only trading commission TradeDirect365 charges is on stock trading which is $5 or 0.07% on stocks valued above $7,150. There is no commission on the other trading instruments.
As broker fees can vary and change, there may be additional fees that are not listed in this TradeDirect365 review. It is imperative to ensure that you check and understand all of the latest information before you open a TradeDirect365 broker account for online trading.
TradeDirect365 Review: Customer Service
The customer service department of TradeDirect365 is available between the hours of 9am-5pm on weekdays from Monday to Friday, Australian time. They can be contacted through phone, email, fax, instant web chat or through the ‘get in touch with us’ form on the brokers website.
TradeDirect365 Review: Deposit & Withdrawal
Clients can deposit and withdraw funds from TradeDirect365 through bank transfer. This is the only method that TradeDirect365 allows for withdrawals presently. The process takes 3-5 business days for non-Australians while it takes a day for Australian residents. Only Australian dollars can be paid in or withdrawn through this method. There is a charge on international bank transfers up to a maximum of AUD 20. The broker can process withdrawals within a business day using this method but an additional AUD 15 is charged for this option.
TradeDirect365 accepts credit/debit cards for only deposits. Only cards issued by Visa and MasterCard are allowed. Card deposits are processed instantly. Australian dollars, US dollars, British pounds and Euros can be used for payments. TradeDirect365 does not charge any fees for credit/debit card transactions but the underlying charges from the card companies will be passed on to the clients.
POLi Internet Banking
Clients can make only their deposits using POLi internet banking which offers online payments. Deposits are usually instant. It is however restricted to Australian residents and the Australian Dollar is the only currency that can be used.
Clients can make use of the online money transfer service from Transferwise to make deposits on TradeDirect365. But clients can only send the money in Australian Dollars.
Verification of the client’s bank account that is used for payment is needed in order to comply with anti-laundering regulations. Third party payments are not allowed as payments are only accepted from accounts under the same name as the trading account holder.
TradeDirect365: Account Opening
To start trading online with TradeDirect365, you can go to the brokers website and click on the ‘open account’ button. You will be taken to the live trading account page where the links to the account opening forms for the three different accounts namely: personal account, corporate account and Trust/SMSF account. There are links to important documents on the page you can view at your perusal such as ‘client agreement form,’ product disclosure statement, etc.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Clicking on the ‘create your account’ tab for the personal account gets you to a page where you will have to fill an online application form with your personal and contact details, then, click ‘next’. Input your details on the next page which includes source of funds, employment status and tick the various agreements’ checkboxes. Click ‘finish’ to create your new trading account. You will be automatically logged into the clients’ area of the TradeDirect365 website. From there, you can verify your account, deposit funds and commence live trading only once you feel ready to do so.
TradeDirect365 Review: Conclusion
TradeDirect365 is an Australian broker that is regulated, offering clients around the globe competitive trading conditions and fees. The broker has a low minimum deposit requirement along with a large number of stock CFDs from top global exchanges available to trade.
Clients have the ability to choose between the MetaTrader 4 platform and its proprietary CloudTrade CFD web trading platform. Both platforms support mobile trading via apps for iOS and Android devices.
However, TradeDirect365 do not offer many instruments outside of stock CFDs. The fact that one can only withdraw through bank transfer could deter some traders. There is no support for the modern and versatile online payment options such as Skrill, Neteller, PayPal, etc.
Furthermore, the broker has no in-house experts that could present comprehensive market analysis, daily insights and market reviews to support traders. There is no comprehensive trading academy with lots of training articles, videos and eBooks to assist beginner traders with informed trading. We also did not find the broker to have the tightest spreads when compared to some of the best trading brokers.
CFD trading is not suitable for all investors. CFDs are leveraged products and carry a high level of risk which means you do not own or have any interest in the underlying asset. TD365 is a trading name of Finsa Pty Limited and does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. TD365 is not a financial adviser and all services are provided on an execution only basis.