Richard Montana | November 17, 2022
Trading.com is a UK based online brokerage firm offering you plenty of Forex and CFD trading instruments via the sophisticated and powerful MetaTrader 5 platform. I found them to have competitive spreads and quick execution speeds whilst it is great there are no commission fees. I also like that we can trade with them in a regulated environment where there is protection in place should something go wrong. However, despite the many positive aspects of the broker, there is room for improvement. I think it would be better if they provided some educational materials to help beginner traders and some daily market analysis to keep us up to date with the latest market moves. You also cannot trade or fund your account with cryptos which may deter some traders.
Pros & Cons
- 1,250+ trading instruments across global markets
- Commission free trading
- Minimum $5 deposit
- Convenient funding options
- VPS service
- Islamic swap-free accounts
- Free demo accounts
- Excellent support 24/5
- Not the lowest spreads
- No cryptocurrency trading or funding
- No MetaTrader 4 platforms
- No daily market analysis
- Lack of educational resources
Trading.com gives you access to a great selection of 1,250+ global markets all from one place with simple and straight forward online trading. One account gains access to flexible and user-friendly platforms so that you can trade with competitive spreads, no commissions, no re-quotes and no rejection of orders. The broker has invested heavily in technology and innovation to meet the needs of the modern trader. They state that they execute over 99% of orders in less than 1 second. A 24/5 customer support team is on hand to assist you as and when necessary. I found them to be very helpful and would not have a problem using them for my day trading routine.
- Simple and straightforward trading
- Competitive spreads and no commissions
- Trade 1,250+ global markets from a single account
- No hidden fees or conditions
- Dedicated support 24/5
Trading.com is a brand name of Trading Point of Financial Instruments. They also offer the brand XM Group. You can read our XM Group review for more details. Trading Point of Financial Instruments UK Limited is authorised and regulated by the Financial Conduct Authority (FRN: 705428). As a licensed and regulated financial institution, the broker safeguards their business by adopting various procedures including:
- Strict regulation
- Member of the Financial Services Compensation Scheme
- Implements an automated system for monitoring funds transactions and risk management
- Ensure safety and security with Secure Socket Layer (SSL) technology
- Following the Markets in Financial Instruments Directive (MiFID)
- Best execution policy for executing trading orders on terms most favourable to clients
I like the fact that the broker is regulated as it gives me confidence my funds will be safe and secure. This way, I can go about my trading without worry. I would always want to trade with a regulated broker although they cannot offer the same products and services as an unregulated broker, the peace of mind is mort important from my point of view. If you are the same, you might want to look at AvaTrade who are one of the most well-regulated brokers that you can find.
Trading Point of Financial Instruments UK Limited provides services only to residents of the European Economic Area (EEA). If you are not based here, you might want to take a look at our broker ratings for other options.
The Trading.com MT5 platform gives you instant access to 1,250+ markets that you can trade anywhere, any time, on mobile, desktop and tablet devices. The desktop version has the most functionality whereas the web-based platform runs directly in the browser without needing to download or install any additional software. The mobile trading platform runs on iOS & Android and is useful for those who need to access their account and trade whilst on the go. From the platforms you can conduct chart analysis, place and manage orders. The order types supported are Market Orders, Stop Orders, Stop Limit Order and Limit Orders.
I feel that this platform should be more than enough for most traders. Unless you require FIX API connectivity, then it can do everything from conducting complex market analysis to placing and managing trades with relative ease. You can customise the platform to be as simplistic or complicated as you need it to be. For FIX API, you could look at Darwinex and Valutrades as possible options.
One of my favourite features is that it can run automated trading strategies (expert advisors) which could be useful to you if you don’t have the time to trade manually. You will find plenty of expert advisors both free and paid within the MQL marketplace that you can access directly from the platform.
Despite MT5 being released after MT4, the older platform remains the most widely available today. You will find that most brokers have MT4, but not all have MT5. However, if you do switch brokers at a later date, the platforms are so similar it should be a seamless switchover. Alternatively, you could consider trading with Pepperstone as they have the MT4 and MT5 platforms.
Some of the platforms key features include:
- Trade 1,250+ markets
- Spreads from 0.6 pips
- Integrated EA functionality
- Customisable user interface
- Support for multiple order types
- Multiple chart timeframes & chart styles
- 80+ technical analysis tools
- 1-click trading
- No re-quotes or rejections
- Price alert notifications
- Economic Calendar
There are a few additional tools to choose from but nothing spectacular. That being said, the MT5 platform should have more than enough tools to do everything you need it to. If you are a professional trader and want access to the best trading tools, then I recommend looking at what Markets.com have available.
Trading.com have a selection of useful forex calculators that can help you plan for your trading decisions. They can do the work for you by automatically calculating important values such as required margin, swaps, stop loss and take profit levels, and much more.
Virtual Private Server (VPS)
A virtual private server (VPS) allows you to run your trading platform remotely on a server 24/7 without needing your computer switched on. These are frequently used by traders who need to run automated trading systems around the clock.
Clients who maintain a minimum amount of (Equity-Balance) $5,000 or equivalent in other currency are eligible to request a free VPS from the Members Area at any given time on the condition they trade at least 5 round turn lots per month.
Clients who do not meet the above criteria can still request a VPS from the Members Area for a monthly fee of $28, which will be automatically deducted from their account on the first day of each calendar month.
I think it is great they offer a VPS although a lot of broker do this nowadays, including Blueberry Markets. I have a VPS from a third-party provider myself that I use to run multiple instances of the MetaTrader platform. This means I can test my expert advisors on different brokers to see which performs best. It is also more convenient as I don’t need my laptop running 24/7.
At the time of writing this review there were no additional educational materials available on the Trading.com website although they do state that there are some planned in the near future. I would certainly like to see some trading guides and tutorial videos to support those of you who are new traders. From my experience, these can be very useful to help improve your trading knowledge and skills. If you are a beginner, FXTM have a good amount of educational content to get you started.
You can keep your eyes peeled for upcoming events that could have an impact on the various markets around the globe with the Trading.com Economic Calendar. This can be used to filter out the noise and focus on the most important economic events that can directly impact your trading. It allows you to discover which events are coming up and how impactful they may be. You can also see previous results and the expectations for upcoming data releases. I think an economic calendar is a vital tool for market analysis but it is something nearly all brokers have.
You can trade 1,250+ markets from a single account. This is great as it means everything is easily accessible from one place. You will find all of the popular markets such as Forex, CFDs on Stocks, Equity Indices, Commodities, Metals & Energies.
I found them to have a good variety of instruments. There should be something for everyone to trade from major currency pairs to stocks of large companies. However, if you want an even larger selection, then Swissquote have a lot more to choose from. You will also need to look elsewhere for crypto trading, Vantage being an option.
You can trade forex with over 50+ currency pairs including EURUSD, USDJPY and GBPUSD with low spreads direct from the interbank market.
You get access to trade stock CFDs on of 1,000+ global companies including tech giants Apple, Amazon, Facebook and Google.
You can trade commodity CFDs on Agricultural Commodities including popular markets like Coffee and Sugar.
Take a position on popular stock markets by trading Indices including the Dax, Dow, FTSE and Nasdaq.
Trade Gold, Silver and a range of other Metals while benefiting from competitive execution and spreads.
You can take a position on popular Energies like Oil and Gas by trading active markets including WTI, Brent and Natural Gas.
The brokers trading hours are between Sunday 22:05 GMT and Friday 21:50 GMT. When their dealing desk is closed, the trading platform does not execute trades and its features are only available for viewing. Therefore, you should make sure you have the correct money management in place according to your strategy before the close.
Trading.com have simplified the trading experience by enabling you to access all markets from a single account, on any device, from anywhere in the world. They aim to give you the best available price every time by keeping spreads low and not charging any commission. You can choose between the ultra-low standard account or the ultra-low micro account.
Ultra-Low Standard: 1 standard lot is 100,000 units of the base currency
Ultra-Low Micro: 1 micro lot is 1,000 units of the base currency
Spreads are variable and on majors start from 0.6 pips. This is higher than some other online brokerages who use raw spreads direct from liquidity providers but who will also charge a commission on top. If a spread mark-up would be suitable for you can depend on the trading strategy that you are using. For instance, some scalping strategies may require tighter spreads.
The minimum deposit required is $5 and leverage from 1:1 up to 1:30 is available. Unlike the usual standard practice of a two-day rollover, Trading.com applies a 3-day rollover strategy for positions held open over the weekend or overnight.
In general, I found the trading conditions to be reasonable and in line with what I would expect from most competitors. However, if you want spreads from 0.0 pips and ECN execution speeds, then you can checkout IC Markets instead.
The broker provides free demo trading accounts if you would like to try out the platforms and practice your trading strategies with $100,000 in virtual funds. You can open a total of 5 demo accounts. Demo accounts do not have an expiry date, and so you can use them as long as you want. Demo accounts that have been inactive for longer than 90 days from the last login will be closed. However, you can open a new demo account at any time.
While all features and functions of a real account are also available for a demo account, you should keep in mind that simulation cannot replicate real trading market conditions. One relevant difference is that the volume executed through the simulation does not affect the market; while in real trading volumes have effect on the market, especially when the deal size is large. The psychological difference between demo and real trading is also worth considering as factors such as fear, anger and greed may have an impact.
Trading.com are a Muslim friendly broker that supports swap-free accounts that comply with Sharia law. You can request a swap-free Islamic account if required. I like that they welcome clients of different religious beliefs although most brokers have a swap-free account option these days.
To open a real live trading account with Trading.com, there is a 3-step online registration form to complete on the brokers website. It will take around 5 minutes to fill out the form where you will need to provide some basic personal information and choose your account type. In order to fund your account, you will need to provide some forms of identification to get it verified, this can be a passport and utility bill. Once your account has been verified by the accounts team, you will be able to fund it and start trading online.
The support team are always there when you need them, offering dedicated support 24 hours a day, 5 days a week. You can contact support via live chat, telephone and email. They are happy to answer all types of questions in a prompt and friendly manner, including any general, account or technical questions. They could improve by providing weekend support but the markets are closed then so perhaps it is not that much of a deal breaker for most of you.
Trading.com support deposit and withdraw of funds via bank transfer, credit/debit card and multiple electronic payment methods. These are the standard forms of payments you can get with most brokers. Just be aware that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.
They do not charge any fees for their deposit/withdrawal options. However, some additional fees may be charged when using certain payment methods. All deposits are instant, except for the bank wire transfer. I like the digital payment options as I find this to be the quickest way to get access to my funds. This is important when there is a market move that I may need to react quickly to.
All withdrawals are processed by the brokers back office in 24 hours on business days. The withdrawal time can vary depending on the country, payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. Trading.com strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your Trading.com account.
Accounts can be opened EUR, USD, GBP, CHF, AUD, PLN, HUF. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. You can deposit money in any currency and it will be automatically converted into the base currency of your account, by Trading.com prevailing inter-bank price.
They don’t support crypto funding so you will need to look elsewhere if that is how you plan to fund your account. Brokers who do accept cryptos include Hugo’s Way and KOT4X. Don’t forget that crypto transfers can incur a hefty blockchain fee.
Compare Broker Features
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, I think that Trading.com offer simple and transparent trading services with a generous selection of trading instruments across multiple asset classes and competitive trading conditions. The MT5 platform is packed with useful features and suitable for all experience levels. The minimum deposit required to open a trading account is just $5 and leverage is limited to 1:30.
Whilst being a regulated brokerage, they do not have the lowest spreads but in turn do not charge a commission fee. I would like to see them provide some educational materials, daily market analysis and social trading features in the future. They could also improve by introducing cryptocurrencies. That being said, if you just want to trade online with minimal fuss, they should suffice. However, feel free to look at our broker reviews for alternative options.