If you’re currently in the lookout for an online trading platform, have you considered the merits of Trade360? The CySEC regulated broker allows you to buy, sell, and trade heaps of asset classes. This includes the likes of stocks, currencies, indices, ETFs, and commodities.
You can view what your fellow Trade360 members are buying and selling, and subsequently decide whether you want to trade with or against the general consensus.
Fancy finding out whether or not the broker is right for your personal trading needs? If so, be sure to read our in-depth Trade360 Review. We cover the ins and outs of how the platform works, who it is suitable for, what fees you need to be made aware of, and more.
What is Trade360?
- 1 What is Trade360?
- 2 Am I Eligible at Trade360?
- 3 Trading Platforms
- 4 Deposits and Withdrawals at Trade360
- 5 Does Trade360 Offer Leverage?
- 6 Trading Fees, Commissions and Slippage at Trade360
- 7 Is Scalping Allowed?
- 8 Trade360 Demo Account
- 9 Is Trade360 Safe?
- 10 Contact Trade360
- 11 How to get Started With Trade360 in 5 Minutes
- 12 Trade360 Review: The Verdict?
Trade360 is an online platform that allows you to trade a range of financial instruments. This includes a plethora of CFDs in the form of stocks, gold, and oil – as well as ETFs and indices. The platform also comes with a fully-fledged forex department, which is great for those of you that wish to buy and sell currencies on a 24/5 basis.
At the forefront of what Trade360 offers is its innovative CrowdTrading feature. In a nutshell, the feature takes a social-approach to online trading, insofar that you can see what assets are in hot demand.
For example, if waves of investors are going long on EUR/GBP – and trading volumes are significantly higher than usual, you’ll be able to view this information at Trade360. This then allows you to determine whether or not you want to “join the crowd”, or go against the money.
Am I Eligible at Trade360?
Trade360 accepts account applications from anyone in the EEA. Therefore, those of you based in the US will not be able to open an account. Take note, in order to comply with anti-money laundering laws – as well as the regulations set out by CySEC, Trade360 will be required to identify all traders that use its services.
This means you will need to upload a clear copy of your government-issued ID before your first withdrawal is authorized.
When it comes to the trading platform itself, you’ll be offered a number of options to suit your personal investment needs. Most traders at the site will use the native Trade360 online trading platform. This allows you to access the trading arena through your desktop browser, so there’s no need to download or install any software.
As is often a minimum requirement in the digital age of trading, the online platform allows you to customize your trading interface, and it’s operational on a 24/5 basis.
You can also access the native Trade360 trading platform via your mobile device. This is facilitated by a dedicated mobile app that’s available on both Android and iOS devices. Crucially, this allows you to buy and sell assets while on the move, and ensure that you never miss a trade.
Alternatively, Trade360 also allows you to trade via globally recognized platform MetaTrader5 (MT5). This is more suited for those of you that are looking for a more advanced trading arena and thus – comes jam-packed with heaps of trading features, charting tools, and technical indicators.
The MT5 integration also allows you to benefit from fundamental analysis, and set up multiple charts on a single screen.
Deposits and Withdrawals at Trade360
As an online broker that seeks to cater to both newbie traders and seasoned investors, Trade360 offers a highly extensive payments department. First and foremost, you will be required to meet a minimum deposit amount of $250.
When it comes to funding your account, you’ll be able to deposit via a debit/credit card – which includes Visa, MasterCard, and Maestro. On top of Trustly and Paysafecard, Trade360 also accepts Skrill and Neteller. Unfortunately, PayPal isn’t supported.
Does Trade360 Offer Leverage?
On the one hand, Trade360 advertises leverage facilities of up to 400:1 for clients with a “Pro” Account, which is huge. This means that a $300 deposit would effectively allow you to execute a trade worth $120,000. However, retail clients will be restricted in the amount of leverage that can be applied.
For example, if you’re based in the European Union, you will be bound by the restrictions imposed by ESMA. This limits leverage on major and minor forex pairs to 30:1 and 20:1, respectively. Gold and major indices are also capped at 20:1, while other commodities and non-major equities are limited to 10:1.
Trading Fees, Commissions and Slippage at Trade360
As is the case with any new broker that you are considering joining, you need to have a firm grasp of how much you are going to be charged to trade. Firstly, the platform does not charge any trading commissions or fees per-say, as everything is built into the spread. However, the spread in itself is an indirect fee, so do bear this in mind.
The specific spread will ultimately depend on the type of asset that you are trading. At the lower end, major currency pairs like EUR/USD come with a spread of 3 pips, while GBP/USD and EUR/GBP sits at 5 pips. You’ll need to trade during Sunday (22:00) and Friday (21:00) to get these spreads.
In the commodity department, you’ll pay 7 pips and 65 pips on oil and gold, respectively.
When it comes to stocks and shares, the specific spread will depend on the equity. For example, while Facebook and Apple stocks have a spread of 128 pips, Tesla is slightly higher at 160 pips.
You will also pay a fee if you apply leverage to your trades – as is industry standard. Known as ‘rollover charges’, you’ll pay a fee for every night that you keep a trading position open.
Once again, the specific fee will depend on the financial instrument that you are trading. Finally, Trade360 notes that although slippage is rare at the platform, it can occur during times of extreme market volatility.
Is Scalping Allowed?
Trade360 is very clear on its policy regarding scalping. For those unaware, this is where you open and close a position for a matter of seconds, with the view of ‘scalping’ ultra-small profits.
Trade360 notes that you will need to wait at least one minute before an open trade can be closed.
Trade360 Demo Account
It is also notable that the team at Trade360 has installed a proprietary demo account. This allows you to get a firm grasp of how the platform works before risking your own money. The fundamentals of the demo platform operates the same as the real-money account, albeit, you’ll be trading with paper funds.
Is Trade360 Safe?
Trade360 is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). Cyprus is a member of the European Union. As such, your funds are protected by a range of consumer safeguards.
If you need to speak with a member of the Trade360 customer support team, the easiest way to do this is via live chat. You can also call the team directly at +357-25-030-622, or send an email at email@example.com.
How to get Started With Trade360 in 5 Minutes
Like the sound of what Trade360 offers and want to get started today? If so, follow the quickfire step-by-step guidelines listed below.
- Step 1: Open an Account First and foremost, you’ll need to open an account with Trade360. You’ll need to enter some personal information so that the broker knows who you are.
- Step 2: Verify Your Identity You will be required to verify your identity through supporting documentation. Simply upload a copy of your government-issued ID.
- Step 3: Deposit Funds You will now need to fund your newly created Trade360 account. You can choose from a debit/credit card, Skrill, Neteller, Trustly, and more.
- Step 4: Trade As soon as your deposit is credited, you can start trading straightaway.
Trade360 Review: The Verdict?
In summary, there’s much to like about the Trade360 platform. On top of listing heaps of financial instruments across most asset classes, account minimums are low at just $250. The broker does not charge any trading fees or commissions other than the spread, and you won’t be charged to deposit funds.
However, the standout selling point to Trade360 is its innovative CrowdTrading feature. This allows you to view what your fellow traders are buying and selling. This includes a breakdown of where the money is going, and what assets are experiencing enhanced trading volumes.
We also like the fact that Trade360 gives you a number of options when it comes to choosing your preferred platform. This includes the broker’s proprietary online trading platform, an iOS/Android mobile app, and even MetaTrader5 compatibility.
All in all, Trade360 ticks most boxes.