This Trade.com review is based on a research of the many aspects, offers, advantages and disadvantages of the Trade.com broker company that’s been swiftly overtaking the Forex market by providing a transparent business policy.
Background and Regulation
Trade.com was established in 2009 under the LeadCapital Markets company, and it is located in Cyprus. It is regulated by CySEC. CySEC counts to one of the most prominent names in the regulatory sphere. It is harmonized with EU directives referring to the Capital market and consumer protection. It ensures the integrity of the market and fair trading conditions. The broker companies under its supervision are required to respect the relevant laws, to submit all relevant data regarding business conduct, and to protect their clients. This means that if you register with Trade.com, you automatically enjoy the rights of legal protection.
Trade.com Software & Trading Platforms
As a renowned European broker company, Trade.com keeps up with the trends in the Forex market and offers the classic and the best-rated platform – the MetaTrader 4. The platform can be simply downloaded to your desktop or phone, and the trading can begin. MT4 is used by millions of clients and is offered by the majority of broker companies.
- MetaTrader 4 trading platform made available
- Web-based Trade.com proprietary platform can be used as well
- Trade.com mobile apps for various mobile devices
Yet, Trade.com provides an in-house trading platform as well to widen their range of variety. Lately, many brokers develop their own platforms specifically designed to match the clients’ needs. It is an online web-browser platform and requires no download. They provide a Trade.com mobile interface as well, giving you the option to trade directly from your phone wherever you might be. Mobile trading has become extremely popular since the right timing plays a crucial role in the business and many customers want to stay informed at every step so they don’t miss out on anything.
Like the majority of European-based brokerage companies, Trade.com also offers a Demo account for the inexperienced and newcomers. The Demo account is an imitation of the real Live Account where you can trade with virtual money to practice. Try it out for free. Regarding Live Accounts, there are three options: the standard, gold and platinum account.
- Standard Account: requires a minimum deposit of $100 and is suitable for casual traders, although it can be used by experienced ones as well
- Gold Account: $5,000 minimum deposit, suitable for more experienced players in the Forex market
- Premium Account: comes with a minimum deposit of $10,000 and is best suited for really big trading professionals and investors
All accounts provide tutorials (video), webinars and seminars, customer support, desktop and mobile trading.
Currency Pairs, Spreads, and Commissions
Trade.com offers more than 50 currency pairs, which include major, minor, and exotic pairs. Spreads (at least for major pairs) are very low. They offer fixed as well as floating spreads. For major currency pairs spreads are usually 3-4 pips (fixed spreads), while floating spreads vary from approximately 2.2 to 3.9. Those who like to play safe usually choose the less risky fixed spread variant, while the gamblers and risk takers prefer floating spreads. Leverage is 1:200 and fixed for all types of accounts. The advantage of a lower leverage is that it protects clients from themselves. Namely, leverage can be risky, and people often reach out for the leverage amount just to lose that money too and end up indebted.
Available Banking Methods With Trade.com
When making your first minimum $100 deposit, no fee is charged by Trade.com. Payment methods accepted by Trade.com include Wire Transfer, Credit Cards (Visa, Visa Electron, MasterCard, and Maestro), and electronic system payments like WebMoney, Skrill, Neteller and Cashu. The speed of the execution depends on the method you use, for example, for Wire Transfers; transactions can take up to several days (usually 3-7 business days). Withdrawals work the same way, which means that all the above payment methods are accepted.
Bonuses and Promotions
Trade.com offers several bonuses that might come in handy in your trading career. First of all, there is the 10% welcome bonus, as well as the refer-a-friend bonus that is popular with many companies. You refer a friend by promoting the company’s link and if the friend joins Trade.com, you and your friend both get rewarded. The amount of the reward depends on the deposit amount your friend makes but can reach up to the amount of $2,000 (if your friend deposits $20,000). When it comes to withdrawal of bonuses, a 10,000 minimum trading volume execution order must be made for every $1 of the bonus. The bonus policy might not be their strongest asset, but on the other hand, your funds are safe, and you can withdraw your profits with no complications regardless of the bonus.
Trade.com Customer Support
The Customer Support is a very important aspect of every brokerage company. Trade.com maintains a Customer Support that is available in 25 countries like Germany, Russia, Bahrain, China, Romania, Bulgaria, Slovakia, Mexico, Austria, Netherlands, Chile, Italy, Spain, Switzerland, etc. You can contact the support via e-mail, live chat or phone. Trade.com knows that a high-quality customer support service is imperative for clients, and hence, for the company as well. The customer support staff will gladly help you out with any problem or concern you might have. They are well-trained, competent, and polite.