Trade.com Review – Is Trade.com a multi-asset broker?
| broker | TRADE.com |
|---|---|
| Website URL | https://www.trade.com |
| Founded | 2014 |
| Headquarters | Strovolos, 128–130 Limassol Avenue, Office 301, 3rd floor, CY 2015, Nicosia, Cyprus |
| Support Number | +44 203 150 0204 , +44 203 150 0456 |
| Support Types | Email, Chat, Phone |
| languages | 20+ languages supported |
| Trading Platform | WebTrader (Web, Mobile and Tablet), MetaTrader4 (MT4), MetaTrader5 (MT5) |
| Minimum 1st Deposit | 100 |
| Minimum Account Size | 100 |
| Maximum Trade Amount | No limit |
| Bonus | No deposit bonus |
| Leverage | Up to 1:300 for Forex, Up to 1:200 for Commodities, Up to 1:200 for Indices, Up to 1:100 for ETFs, Up to 1:100 for Bonds, Up to 1:10 for Shares |
| Spread | Fixed and variable |
| Free Demo Account | Yes |
| Regulated | Authorized and regulated by the Cyprus Securities and Exchange Commission, license number 227/14 and authorized by the FSCA, South Africa (FSP No. 47857). |
| Account Types | Micro , Silver , Gold , Platinum , Exclusive |
| Deposit Methods | Skrill (Moneybookers), Neteller, Wire Transfer, Credit Cards |
| Withdrawal Methods | Skrill (Moneybookers), Neteller, Wire Transfer, Credit Cards |
| Number of Assets | 2100+ |
| Types of Assets | Bonds , Commodities , Forex , Crypto , Indices , Stocks , Live Stocks , ETFs |
| US Traders Allowed | No |
| Mobile Trading | Yes |
| Tablet Trading | Yes |
| Overall Score | 91 |
Introduction
TRADE.com is a multi-asset online brokerage firm that was established back in 2013, with its headquarters in Cyprus. Since then, it has emerged as one of the leaders in the online brokerage space. It offers thousands of different financial assets and instruments for you to invest in across a variety of trading vehicles. These include DMA (Direct Market Access, SpreadBetting for the UK and Ireland, Asset Management services, Thematic tradinng and Pre-IPOs.
The brand falls under the umbrella of companies that are regulated by authorities in Cyprus, the United Kingdom and South Africa, catering to a truly global audience. This TRADE.com review looks at the pros and cons of this brokerage solution, giving you a fair idea as to whether or not TRADE.com will be a good fit for your investing needs.
Pros
- Massive selection of different assets and investing types
- Products are suitable for a wide selection of investor profiles and types
- An excellent dedicated support service available in languages
- Some advanced trading platforms with excellent features
- A multi regulated firm which is safe and secure
Cons
- Massive selection of different assets and investing types
Products
TRADE.com is a multi-asset brokerage firm, allowing you to access and trade the likes of Forex, commodities, bonds, indices, stocks and ETFs through CFDs.
There is massive depth in each of these asset classes when it comes to trading. There are more than 2,100 different assets across these categories that you are able to trade. You will have a max leverage in place of 1:300 when trading Forex. Currently, there is no cryptocurrency trading offering, which may be a negative for some people. However, you have plenty of other options to diversify otherwise.
To break down the asset classes a bit more, there are more than 55 currency pairs, over 25 index CFDs, a solid selection of soft and hard commodities, over 2,000 equity CFDs and a great selection of ETFs. Overall, it will be tough finding a more comprehensive investment offering than you will find with TRADE.com.
In terms of DMA, the firm has given clients access to literally hundreds of thousands assets through global exchanges. This service plugs investors into the markets directly via the sophisticated platform. DMA means lower fees and instant execution.
The Spread Betting offering is available to residents of the UK and Ireland. It brings many benefits like Tax Free Gains and is available through the TRADE.com WebTrader platform.
IPO is a servce offered by the brokerage firm which gives investors the ability to receive allocation to some of the leading startups before they go public. This is an amazing product and it lists some really proven firms.
Thematic trading is where investors can invest in a portfolio of different assets all grouped together by theme or trend. Current portfolios include Clean Water, Cybersecurity and AI. This product is particularly well-loved as it gives investors the chance to invest in their firm beliefs and ethics.
The firm offers asset management services too through model portfolios and customised portfolios which are built to outperform the leading benchmarks like the S&P 500.
Fees and Charges
In terms of the CFDs, the main way in which TRADE.com makes its money is through the spreads that it marks up. Naturally, these spreads are going to be different depending on what assets you are looking to trade, as well as the trading platform you are using. Taking the example of trading Forex markets through MetaTrader 4, the spread is 3 pips for EUR/USD. This is a pretty wide spread for an online broker, but there are no commissions charged by TRADE.com on trades either.
There are some other fees to consider also with the TRADE.com platform, such as overnight charges. swap fees for orders that remain open overnight, conversion fees for exchanging currencies, an inactivity fee if there has not been a trade made in 90 days.
This will be a monthly inactivity fee, rising to an annual fee as well if there has been no activity for 12 months. There are no fees charged by TRADE.com for making a deposit or a withdrawal, but do be careful as the third-party payment processor you are using may charge you fees.
For the other products fees vary, and it is worth speaking to the firm directly in order to understand minimum investment amounts and fees.
Trading Platforms
There are two main trading platforms that you can use on TRADE.com for CFD trading. Each of them supports mobile trading, with solid mobile offerings for iOS and Android devices.
The first is WebTrader, which is ideal if you want to trade through a browser. The interface is crystal clear and minimalistic. Having said that, there is also a great selection of different features and functions that you can use to help you with your trading. One of the highlights of this trading platform is its risk management system that gives you a great helping hand in volatile markets.
You also can use the industry-standard MetaTrader 4 platform. This has been around for many years and a lot of traders will have used this platform at one time or another. This platform can be downloaded as a desktop client for Windows and Mac computers. It is a very convenient platform to use and there is an impressive selection of professional tools to use, which is why it has stood the test of time as a platform.
For DMA, you will trade on a sophisticated platform which comes through a joint venture with Interactive Brokers. The platform is called IBKR.
All other products are managed through your dashboard.
Security and Reliability
TRADE.com is regulated by a number of leading oversight bodies for the online brokerage space. It has a license with the Cyprus Securities and Exchange Commissions (CySEC), as well as the Financial Conduct Authority (FCA) in the UK and the Financial Sector Conduct Authority in South Africa. Therefore, you know that these respected regulators are keeping an eye on TRADE.com to ensure that all of its operations are compliant.
As there are a lot of CFD instruments that you can trade on TRADE.com, you do need to be aware that there are risks attached with trading these products. On TRADE.com, 75.40% of all retail investor accounts end up losing money through trading CFDs.
In terms of the protection of investor accounts, TRADE.com takes this matter very seriously. It deploys the best in encryption technology. This means that the personal and financial data of investors will be kept safe and sound when it is being transferred and stored.
The TRADE.com platform is also covered for deposits of up to €20,000 thanks to the Investor Compensation Fund (CIF). There is also protection for traders through the Financial Service Compensation Scheme for up to £85,000. All client funds will be segregated from the operational funds of TRADE.com with Tier 1 banks for extra protection.
Customer Support
The TRADE.com website is comprehensive in terms of the information that it provides you with. You can use the easy navigation system to find out a lot of information about any issues or queries you may have. Otherwise, you can contact the TRADE.com customer support team and deal with an issue directly.
For simple questions, the live chat option is probably your best bet due to the quick response times. For more detailed issues, you can send the team an email. This inbox is monitored from Sunday at 22:00 GMT until Friday at 22:00 GMT.
You can also send the support team a message or ring them through Whatsapp for free. This is ideal if you want to talk with a person on the phone to walk you through your issue. Overall, the quality of the TRADE.com customer support is very good.
Deposits and Withdrawals
You do not have to deal with any fees from TRADE.com in order to add or withdraw funds from your account. The main banking options open to you to use are credit cards, debit cards, fast bank transfers, Skrill and Neteller.
There are a lot of localized payment options also that are dependent on what region you are based in. Each of these options will see your deposited funds hit your account almost instantly, which is ideal. Withdrawals will usually take a few working days, depending on which option you choose.
Conclusion
TRADE.com is one of the best multi asset brokerage firms that exists in today’s retail market. They have offices around the globe in capital cities and welcome their clients to visit. if you are looking to trade a lot of different types of assets and want access to some really- forward-thinking investment types then this is the brokerage firm for you. You can get great diversification for your portfolio through this online broker thanks to an amazing selection of assets and products.
It is a reputable brokerage firm regulated by numerous leading authorities and there is a great customer support team in place that offers a dedicated service. You have two solid trading platforms to choose from for CFDs alone. All in all, TRADE.com is an ideal fit for traders looking for access to a wide selection of different assets.