Trade.com Broker Review 92

 

Trade.com is a global online broker based out of Cyprus. They offer trading in a wide range of trading assets, ranging from bonds to various CFD’s and Forex. The website is offered in 24 different languages, serving clients in all parts of the world.

Furthermore, Trade.com is regulated by Cyprus Securities and Exchange Commission, which falls under the umbrella of standard EU regulation. They also offer commission-free trading with tight spreads.

The broker offers three different account types based on the size of your initial deposit, with the minimum deposit requirement to get started being $100. All account types offer 24-hour customer service, a dedicated account manager, video tutorials, and a daily analysis.

Anyone can open a practice/demo account for free, with the account interface being exactly the same as the live accounts. With a practice account, traders also get access to both trading platforms offered by Trade.com, in addition to free educational resources and a free news feed.

The company’s greatest asset in attracting new traders and building credibility is perhaps its affiliation with longtime Bloomberg TV host and media personality Bill Hubard. Hubard now holds the position as Chief Economist and brand ambassador for Trade.com. Hubard also works one-on-one with some of Trade.com’s VIP clients, and appears in seminars, training videos, and weekly analysis videos for the broker.

Regulation

Strong regulation is one of the most important factors to consider when choosing a broker. Trade.com is operated by the company Leadcapital Markets Ltd., which is fully regulated by the Cyprus Securities and Exchange Commission under license number 227/14. The strong regulatory environment in the EU should ease potential customers’ minds regarding things like segregation of funds and easy withdrawals.

 

The benefit of being regulated by such strong regulatory bodies can be summarized in three key points:

– Client funds must be held in tier 1 banks and kept completely segregated from the company’s own funds.
– An investor compensation scheme must be in place to cover investor’s losses in the event the company is liquidated. In the case of Trade.com, the compensation scheme covers up to $20,000 worth of deposits for each account holder.
– The broker must look after their clients and ensure that they are offered relevant training necessary for making good decisions in the financial markets.

Assets

In terms of assets available for trading, Trade.com is mainly a Forex and CFD broker. They offer many different trading assets such as Stock CFD’s, Forex, Commodity CFD’s, Index CFD’s, and ETF’s.

Trading Platforms

Trade.com offers two trading platforms, both accessible from desktop and mobile devices.

WebTrader

Their WebTrader solution is probably the best place to start for most people who are just getting started with trading. The interface is intuitive and easy to understand, while at the same time it is a fully functional trading platform offering access to over 2,000 instruments. WebTrader is accessed through your web browser, meaning there is no need to download any software onto your computer.

MetaTrader 4

The other platform offered is MetaTrader 4 (MT4). This is a platform most experienced traders are already familiar with, especially those trading mainly in the Forex markets. The MT4 user interface has a more advanced feel to it than the WebTrader, but if you can learn to fully master this trading platform, it will surely pay off.

The MT4 platform is used by millions of traders worldwide and offers free live data feeds and all historical data, all kinds of technical indicators and charting tools, as well as the ability to program your own trading strategies and run backtests on them. There are also lots of so-called Expert Advisors, or trading robots, available that you can choose to follow.

Deposits and Withdrawals

Deposits into your trading account can be made with most major credit cards, including Visa, MasterCard, and Diners Club. The minimum deposit to start trading with Trade.com is $100, but in order to qualify for their more premium “Classic” account type you need to deposit at least $1,000.

Withdrawals are handled quickly by the company and will in most cases be processed on the same day as the request is made. For requests made outside of normal trading hours, the withdrawal will be processed the next day. Note that some withdrawal methods will be subject to third party charges. Withdrawals will by default be deposited back to the credit card or bank account the deposit was originally made from.

Account Types

Trade.com offers its clients three different account types to choose from; Classic, Gold, and Platinum, with minimum deposit requirements of $1,000, $5,000, and $25,000, respectively.

The offerings that come with your account are mostly the same across the three account types, with the addition of a Premium Daily Analysis and access to Trading Central for Gold accounts, and additional Premium Customer Support available to Platinum account holders.

Trader Education

In terms of trader education, Trade.com offers a solid lineup of courses and tutorials that will help you make the most of your trading. They have an entire education center only open to their account holders.

Additionally, Trade.com offers beginner trading courses, MetaTrader 4 tutorials, trading tools courses, trading strategies courses, and ebooks on Forex trading free to download.

The Beginners Guide in particular is a very useful tool for traders just getting started. The biggest issue for these traders is often that there is too much information available online, making it hard to know where to start. It is therefore recommended to find a single reliable resource and stay with it as you continue your trading journey. Trade.com’s education center would surely be a good choice in that regard.

Customer Support

Support is available from Sunday 22:00 GMT till Friday 22:00 GMT at their Cyprus headquarters. Additionally, Trade.com offers local support phone numbers in 26 countries worldwide. Account holders may also contact their dealing desk in Cyprus directly on phone number +44 20 3769 6848.

Conclusion

After closely examining Trade.com’s offers and policies, we can conclude that this is a safe choice for traders. The broker also offers a competitive pricing structure and tight buy/sell spreads.

Trade.com is also well regulated by a trusted EU jurisdiction, standing in stark contrast to many other online Forex brokers. Finally, the educational content offered by the broker is among the most comprehensive we have seen offered by any broker online.