Trade360 Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
Cyprus-based Trade360 operates as a foreign exchange broker. Finding a
trustworthy Trade360 review, either locally or globally, may be a challenging
procedure, particularly when it comes to locating a comprehensive list from a
reliable and trustworthy source. The following is a comprehensive analysis of
Trade360 designed to assist you in making an educated choice prior to creating
an account with the company or trading on their platform.
Visit Trade360 website.
According to findings from recent research, a foreign exchange (Forex) broker is a corporation that gives traders access to platforms that enable them to buy and sell various currencies from across the world.
Retail forex brokers and currency trading brokers are both names that refer to the same type of business. In turn, retail currency traders employ these brokers in order to acquire access to the 24-hour currency market for the sake of speculating.
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Institutional clients and huge corporations such as investment banks can also take use of the forex broker services that are available.
Trade360 is an online forex broker firm that was established in 2013 in Limassol, Cyprus, and is owned and operated by Cypriots. MPF Global Markets Ltd. goes under the moniker Trade360 as its registered business name.
CrowdTrading, one of Trade360's most notable innovations, is based on research indicating that patterns of group activity can disclose market trends prior to their manifestation as changes in exchange rates or prices in the market. This study was conducted by Trade360.
Traders are able to trade a broad variety of assets using this CrowdTrading platform. The one-of-a-kind interface provides current data streams of activity from the crowd, which traders may use as a foundation for making trading choices.
A foreign exchange account, often known as a forex account, is a trading account that is held by a trader with a business like Trade360 and is primarily issued for the purpose of trading currencies.
Typically, the number of accounts and types of accounts that a trader is permitted to open with a broker firm will vary depending on the country in which the brokerage is based, the trader's country of residence, and the regulatory authorities under whose jurisdiction the firm is authorized to conduct business.
When it comes to Trade360, there are a total of six distinct trading accounts to choose from. These accounts do not charge any commissions but need a certain amount of money up front and provide a variety of various services and features.
Mini, Standard 360, Gold, Platinum, VIP, and Islamic360 are the many categories of accounts available. Each and every account grants users access to the broker's very own live CrowdTrading stream, which allows them to monitor the activities of other traders.
Citizens of the United States are not permitted to establish new accounts.
Trade360 demands a minimum deposit of $250.
Trade360 allows customers to make deposits using the following credit card brands: Visa, MasterCard, Maestro, JCB, Diners Club, and American Express. When it comes to funding their trading accounts, investors also have the option of using bank wire transfers, Skrill, and Neteller. Deposits made are not subject to any fees of any kind.
The number of business days required for a withdrawal from a Trade360 account might range anywhere from three to ten, depending on the withdrawal method that was chosen.
In order to withdraw funds from their Trade360 account, the user must first pick the "withdraw funds" option from the dropdown menu on their account, and then provide the information that is needed.
Traders who wish to withdraw funds from their accounts are required to provide proof of identity in the form of a copy of their current identification document (such as a driver's license, passport, or other government-issued identification card) and a utility bill that is no more than three months old and includes the client's full name and residential address.
The following methods can be used to withdraw funds: Credit Card, Neteller, Skrill, and Wire Transfer. Withdrawals can only be processed via the same form of payment that was utilized when making the initial deposit.
The amount of money spent on trading is determined by a number of variables including fees, spread, and margins.
The difference between the bid rate and the asking rate for a currency pair is known as the spread for that pair. A point of interest (pip) is the smallest possible change that can occur in a currency exchange rate. For currency pairs in which the Japanese yen serves as the term currency, one pip is equal to 0.01, but for all other pairs, one pip equals 0.0001.
Margin refers to the minimum quantity of funds that must be present in an account before a position may be opened. The current price of the base currency in relation to USD, the size (volume) of the position, and the leverage that has been applied to your trading account are all factors that go into the calculation of margin.
Commissions are the fees that a trader must pay to an investment broker in exchange for the broker's assistance in conducting transactions on the trader's behalf. The amount of commissions charged will fluctuate from one broker to the next, as well as depending on the asset that is being traded and the kind of service that is being provided by the broker.
Traders often pay lesser commissions when they work with execution-only brokers, which are defined as brokers that do not offer any kind of personalized financial advice and who grant traders full authority over the manner in which they trade the markets.
Contract for differences (CFDs) trading is a type of derivative trading that gives traders the ability to bet on the increasing or falling prices of rapidly changing global financial markets. However, CFDs trading on shares will result in the payment of fee.
Trades in contracts for difference (CFDs) made on other markets don't incur commission fees, but they do add a spread on top of the price of the underlying asset.
Trade360 does not charge any fees associated with deposits, commissions, or fees associated with trading because all expenses are included into the spread. Traders need to keep in mind that the spread itself is an indirect cost that must be paid in order to participate in the market.
The particular spread that applies will be determined by the item being traded by the speculator. Customers will also be subject to a cost if they use leverage in their trades, as well as 'rollover charges' for each night that they have an open trading position. Both of these fees are in addition to the initial transaction price.
Leverage refers to the facility that enables a trader to create a position with a considerably bigger exposure to the market in comparison to the amount of money that they first placed in order to do so. Leveraged products like this amplify a trader's potential profit, but they also raise the trader's potential loss, which is to be expected.
The level of leverage is typically stated as a ratio, such as 50:1, 100:1, or 500:1. If a trader has a trading account balance of $1,000 and is trading ticket sizes of 500,000 USD/JPY, then that trader's leverage is equivalent to 500:1.
Trade360's maximum leverage on commodities is 400:1, while its maximum leverage on stocks is 20:1, its highest leverage on indices and CFDs is 50:1, and its maximum leverage on forex currency pairs is 400:1.
Customers are not required to employ all of the available leverage since the minimum position sizes are on the lower end of the spectrum. Customers have access to a substantial amount of leverage. A trader who uses a larger leverage might potentially earn more earnings, but this comes with a greater danger of losing their investment.
Customers who are located in the European Union will be required to adhere to the restrictions that were only recently established by the European Securities and Markets Authority (ESMA). These restrictions limit the leverage on major and minor forex pairs to 30:1 and 20:1, respectively.
While the maximum leverage for gold and major indices is regulated at 20:1, the maximum leverage for other commodities and non-major stocks is capped at 10:1.
It is common practice for forex brokers to entice new traders with promises of enticing deposit incentives. This could be helpful, but it is very necessary to determine what a legitimate bonus is.
A bonus of this kind is just a method of compensating traders for selecting a
certain broker, given that once the account is established, the trader will be
subject to the same fees as any other participant in the market.
Once the trader has demonstrated that he is an active trader, he will be eligible to get the bonus, which is just a reward for the trader's decision that will reimburse part of the trader's costs.
Customers should be aware that no deposit bonuses are an excellent way to get started trading, but they frequently come with ridiculous terms that require you to trade a certain volume of currency before you can make any kind of withdrawal, even if you do make a profit from trading with the bonus money. This is true even if you do make a profit.
In addition, the European Securities and Markets Authority (ESMA) has imposed investor protection requirements on the promotion, distribution, or sale of CFDs to retail clients as of August 1, 2018. These regulations have been in effect since that day.
These ban brokers from providing the retail customer with any payment, monetary or excluding non-monetary advantage regarding the promotion, distribution, or sale of a CFD, other than the realized profits on any CFD that is offered. This can happen either directly or indirectly.
Trade360 does, in fact, provide a money-back guarantee on each and every transaction that a novice makes using the practice trading account that requires an initial payment of $100. Cashback from Trade360 increases in proportion to the size of the user's first deposit.
Platforms for Financial Trading, Software, and the Features It Offers
The platform is the name given to the forex trading software that is made available to the customers of a broker firm and is utilized by those customers in the execution of their transactions.
When referring to a platform, the term "multi-asset" refers to the fact that it enables customers to trade not only foreign exchange but also other asset classes, such as contracts for difference (CFDs) on stocks, stock indices, precious metals, and cryptocurrencies. A platform may also be multi-lingual.
What a customer wants to trade will play a significant role in determining which trading platform they should go with; thus, this factor will also be one of the factors they use to select a broker.
Trade360 makes available to its customers an innovative and proprietary crowd trading platform known as CrowdTrader.
Traders may log in to this platform using any web browser and operating system of their choosing, which allows customers access to a wide variety of tools that were developed specifically for the platform. There is a practical mobile application accessible for mobile devices running either Android or iOS.
A trader may stay one step ahead of any potential changes in the market trend by receiving fast notifications from CrowdTrader, which also identifies timely trend reversals whenever there is a shift in the attitude of the crowd.
The trader is able to conduct trades, check the positions in hundreds of various trading instruments, and watch the market through a live feed that displays market patterns that are taking place and changing in real-time. These capabilities are made possible by CrowdTrader.
Traders that use Trade360 also have the option to do their business on MetaTrader 5, should they so want.
A possible trader needs to determine, as one of the very first things they
do, whether or not a broker like Trade360 is secure to conduct business with. To
determine which regulatory agencies are acting as watchdogs over the activities
of a brokerage is one of the most reliable benchmarks for measuring the safety
of a brokerage.
Trade360 holds a license issued by the Cyprus Securities Exchange Commission (CySEC) bearing the number 202/13, which enables it to act as an authorized and regulated broker.
Trade360 is compliant with the requirements of the Markets in Financial Instruments Directive (commonly known as MiFID) as a result of the CySEC authorisation that it holds.
This piece of law passed by the European Union imposes restrictions and requirements for safe practices on financial investment enterprises operating inside the European Economic Area, which includes the United Kingdom.
Because of these requirements, Trade360 stores personal information by encrypting it using SSL technology and uses separate accounts for customer payments that are kept entirely separate from corporate funds.
Trade360 employs not one but two separate levels of firewall security to guarantee that no unwanted access can ever be gained. One is located at the application level, while the other is at the server level.
Trade360 has two different server farms, each of which is guarded around the clock by armed security personnel in a separate location. These server farms need to be synced with one another, which makes it impossible for anybody to alter any of the broker's information.
Potential traders need to be able to have confidence that the broker firm they choose will be able to provide them with the essential assistance and aid anytime they may want it.
In the case of Trade360, the customer care staff is available around the clock during the week that the financial markets are open for business but is closed on the weekends. Email, a live chat option, an online contact form, and phone calls are all acceptable methods for getting in touch with the customer care staff.
The client desk for Trade360 provides help in many languages, including English, French, Arabic, Polish, Dutch, German, Spanish, Italian, and Turkish. Other languages supported include Polish, Dutch, German, and Spanish. Customers who need assistance can also visit the website's comprehensive Frequently Asked Questions section.
Before beginning to engage in speculative trading, prospective traders should always undertake as much study on the topic as they possibly can.
Because trading with self-assurance and achieving financial success is highly dependent on having knowledge and an understanding of the markets, the research options provided by brokers are an essential component of the features that should be considered when selecting the right company to trade with.
Trade360 provides a platform that is capable of generating trading signals, which may be used to identify emerging market trends. Traders that are familiar with the strategies of crowd trading will subsequently be able to incorporate those strategies into their trading strategy. In addition, the only feature that can be seen on the homepage of Trade360 is an economic calendar.
The CrowdTrading Feed that Trade360 provides, on the other hand, does perform its own sort of research due to the fact that its algorithm attempts to recognize crowd-generated trade events. Trading signals from Trading Central are also shown on its feed for customers who have an account balance of at least one thousand dollars.
Before beginning to trade, prospective customers of Trade360 should ensure that they have amassed all of the knowledge and experience in the financial markets that they will require in order to be successful in the world of FX and commodity trading.
A trader should look into other information sources and methods to acquire the necessary skills and expertise if the Trade360 website does not supply enough of the necessary resources on its own.
Clients of Trade360 get access to e-books on crowd trading as well as a frequently asked questions area that contains information on the fundamentals of trading.
Trade360 is a novel kind of licensed broker that offers a helpful social trading service in addition to trading in a diverse range of financial instruments. It can be said that Trade360 is a pioneer in the industry.
Their patented online CrowdTrading platform is user-friendly and provides traders with useful and up-to-date market information that is derived from the actions of huge groups of market participants. Traders may utilize this information to make more informed trading decisions.
Trade360 is a trading broker that was established in 2013 and is well-liked by its customer base as well as regarded by its competitors in the sector. This is demonstrated by the numerous accolades that the company has received, such as the titles of "Best Trading Broker" and "Most Innovative Social Trading Technology," both of which were presented at the European Global Business Awards.
Trade360 gives customers access to all of the major and minor currency pairings that are traditionally traded. Although there are no costs associated with initiating or closing positions, there is a considerable possibility that the spread will be somewhat restrictive. At the time this article was written, the spread between USD/GBP was nearly five pips for traders working with an account at the entry level.
There is not the most extensive variety of Forex alternatives accessible, with just 48 pairs supplied; this is far fewer what some of their competing brokers give their customers.
At Trade360, customers may choose from more than 200 tradable assets and CFDs, which are spread out over the company's standard product range.
There is a reasonable amount of coverage in terms of the overall quantity; nevertheless, before Trade360 could be called a market leader in this segment, some of the individual categories of CFDs might need a more thorough offering from Trade360.
You'll discover more than 450 stocks to choose from when you use Trade360, including well-known companies such as Apple, Amazon, and Netflix in addition to new and developing firms.
The ratio of leverage that is made available to you ranges anywhere from 1:5 to 1:20, depending on the type of account that you have. You are able to open and close positions over the complete range of trading hours that are specific to each foreign market by using MT5 as well as the broker's proprietary software.
With Trade360, you won't have to pay any commissions when you buy or sell stocks, and both short and long traders are encouraged to use the platform.
Trade360 may be the only broker that provides a social trading platform that is as comprehensive as the one described here.
The company has developed what it refers to as its own trading "environment," which goes by the name CrowdTrading. It brings together CrowdFeed, a real-time live feed of the markets and asset price fluctuations, and the CrowdTrading Sentiment Indicator, which offers up data on both the market's buy and sell-side to see where the community is investing their money. Together, these two features provide a comprehensive picture of where the community is placing their financial investments.
The fundamental idea behind this theory is that the collective intelligence of a group of people may provide a better and more precise interpretation of the market than a single person can. Therefore, you will have access to critical market information and be able to forecast the possible direction that prices will take in the future with Trade360.
In order to attempt to keep one step ahead of the competition, a number of different tools, such as Trend Spotter, may detect patterns that are appropriate for your trading behavior while also allowing you to take advantage of Surge In Position and Trend Reversal.
There aren't many brokers that provide a'social' trading platform that can compare to Trade360's.
When it comes to trading brokers, Trade 360 is similar to many others in that the costs you will pay are in some ways determined by the sort of account you create with them.
When trading several of this broker's products, your spreads will be smaller the "higher" your account type is, such as VIP rather than standard. This is the primary sort of "fee" that is applied on a daily basis. It does feel like a tax on those who are new to trading or who are operating on a tighter budget, but as always, liquidity reigns. Those who are new to trading or who are working on a tighter budget.
When you continue an open position into the next trading day, you are responsible for paying a variety of fees and swap rates, some of which are exclusive to the Forex market and others to the stock market.
Hedged transactions will result in additional fees from Trade360. On the other hand, there are no fees associated with making deposits or withdrawals.
At Trade360, you may select an account type from one of the six available
options. As in the past, they are distinguished from one another by the minimum
deposit amount. The larger the first deposit that you make, the more
"prestigious" your account will be perceived to be, and the more perks you will
have access to using that account.
The Mini account is the starting point for new customers, and it requires a minimum deposit of $250. You will get access to the specialized CrowdTrading platform provided by the broker, as well as trading signals and customer assistance, twenty-four hours a day, five days a week. Traders with Mini accounts, on the other hand, do NOT have access to MT5 for their trading activities. This point cannot be emphasized enough.
All of these capabilities are available on the Standard account, which requires a minimum deposit of $1,000 and does contain MT5, but the Gold account, which requires a deposit of $5,000, also includes access to unique market updates and individualized notifications.
The only difference between Platinum, Diamond, and VIP status is the required minimum deposit amount, which increases to $10,000, $50,000, and $100,000, respectively, from Gold status. On the other hand, spreads are becoming tighter on many trades, and this will have some impact on the profitability of your transactions.
As a side point, there are Islamic accounts that you may open.
Trade360's goal is to bring in as many high rollers as possible, which is logical considering that this is where the majority of their profits come from; nonetheless, this goes against the principles of social trading. After all, the majority of VIP traders will have their own independent sources of knowledge in addition to the collective intelligence of the market.
These social traders ought to be given the opportunity to use all of the platform choices; it is unacceptable that they do not provide their Mini customers with access to the MT5 platform.
The broker provides access to not one, not two, but four distinct trading platforms, in addition to the possibility of mobile trading.
WebTrader is the most fundamental platform since it provides all of the most elementary operations that a trader would be required to carry out. There are over 500 different assets available for trading, in addition to a large number of technical indicators.
After upgrading from the Mini account level, Trade360 customers get access to MT5, which is widely regarded as the gold standard for trading software among industry pros.
Keep in mind that this particular broker provides the one-of-a-kind CrowdTrading platform as well, which means that you may learn from the experiences of other traders and potentially benefit from favorable shifts in market conditions.
Trading Central is a provider of individualized trading signals for numerous asset classes, and all traders have access to it through Trading Central.
And there's an opportunity for traders who are always on the move to make use of a powerful mobile trading program that's available to them. It provides all of the features and functions that one would anticipate from a conventional desktop trading platform.
The variety of platforms offered by Trade360 is impressive, but the company loses points for the fact that it does not provide its Mini account customers with access to MT5. They are not even given the option to use MT4 as a sort of consolation, despite the fact that the company deserves recognition for the development of their own proprietary CrowdTrading platform.
There are no significant limitations on the ways in which any of Trade360's assets can be utilized. A respectable broker should conduct the standard verification steps, but other than that, the onboarding process for new traders should be swift and straightforward. Anyone who has ever engaged in trading before will find that gaining access to customer assistance is simple, and the various account features will be second nature to them.
he usefulness of the broker's software speaks for itself - some traders prefer WebTrader, while others prefer MT5 – while the operation of the CrowdTrading platform is straightforward and uncomplicated (in a good manner).
Finally, mobile traders will find the app to be very straightforward when it comes to opening and closing positions while they are on the go. Taking everything into consideration, we can come to the conclusion that Trade360 is a broker that is simple to use regardless of which platform you decide to work with.
On the other hand, we feel as though there should be a far greater emphasis placed on instructional material. A helpful dictionary of popular trading terms can be found on the website of the broker. In addition, there is a section that provides more in-depth information on each tradeable asset and instrument that the broker has available.
A report on the market that is updated every day is also a great addition. Nevertheless, we would like it if the company's lead traders or other specifically invited industry experts provided additional content in the form of blogs, interviews, and video lessons.
If you have a query regarding trading in general or your account specifically, you may check out the support center that Trade360 provides to see if the answer can be found there. It is a condensed version of the Frequently Asked Questions and includes information on various payment options, paperwork, and more.
In the event that this does not resolve your issue, you may reach out to their customer care team through the standard trio of channels. There is a telephone line, a messaging service (which may be accessed through their website or by regular email), and a live chat feature, the latter of which is staffed twenty-four hours a day, five days a week.
Trade360's customer service goes a step further than that of most other brokers in that it offers remote assistance in the event that you have a technical problem with one of the company's products. You may offer a support engineer access to your screen through the use of the platform TeamViewer, and they will work with you there to discover solutions to any issues that you are having.
This is an outstanding assistance option, which is made even better by the fact that the support crew for Trade360 appeared to be educated about their firm and the items they provide. The speed and thoroughness with which written messages were responded to was impressive.
Trade360 provides a trustworthy and safe platform for online payments to its customers. The only thing you need to do is decide the payment method you want to use, make the deposit through your account, and within a few short hours, your money will be available for trading. Keep in mind that this broker does not charge any fees for making deposits of any kind.
Deposits and withdrawals made using credit and debit cards are both allowed by Trade360, and the company cooperates with all of the main financial institutions, including Visa, MasterCard, Maestro, and others.
Through the use of the Trade360 website, you are able to conduct a bank transfer, and the website will walk you through each step of the process. When it comes to processing time, both deposits and withdrawals made by bank transfer might take anything from a few hours to several working days. The processing time for deposits can take as little as 12 hours.
Skrill and Neteller, along with the majority of the other main e-wallet options, are accepted for use for making deposits and withdrawing funds.
The 'know your customer' verification criteria have to be met before you may make a withdrawal from your Trade360 account. If you want to make a withdrawal, go here for more information. Only the same mode of payment that was used for deposits can be utilized for withdrawals.
Requests to withdraw funds are completed within three days, which is pretty much the industry standard and something you will find with most brokers. However, depending on the financial institution in issue, it may take anywhere from three to fourteen days for the cash to reach your account.
To our great relief, there are no costs associated with withdrawals.
Trade360 is unable to provide prospective customers with any bonuses or other
inducements in the hope that they would open an account with the company. This
is because the regulations imposed by CySEC are quite rigorous. As a consequence
of this, Trade360 does not currently have any offers on the table (albeit
through no fault of their own).
Aside from a welcome incentive of some type, the broker does allow you to establish up a demo account. This means that you may test out trading tactics without putting any of your own money at danger.
Trade360, in its capacity as a broker that works inside many countries all over the world, has obtained the appropriate licensing from a number of important regulatory agencies.
The Cyprus Securities and Exchange Commission (also known as CySEC) and the Australian Securities and Investments Commission are both examples of these organizations. In addition to providing the traders of the company with the assurance that they are in good hands, compliance with the requirements defined in the Markets in Financial Instruments Directive (MiFID) gives them peace of mind.
In addition to this, Trade360 is operational in a number of nations that are part of the European Economic Area. As a result, they have registrations with the Financial Conduct Authority in the United Kingdom, the Federal Financial Supervisory Authority in Germany, the Banque de France, and a great number of other foreign bodies.
All of this leads us to assume that Trade360 has done all possible to prove its credentials as a top trading broker, leaving no stone unturned in the process. Traders can have full faith that this is a company that is functioning in accordance with all of the rules and regulations because of the vast regulatory power that is watching their every move.
Trade360 is a member of the Investor Compensation Fund, which means that your deposits are protected in the event of a dispute. Because of this, customers in European nations have the peace of mind of knowing that they will have their money returned to them in the event that it is determined that the broker acted in an incompetent or unlawful manner.
If you are seeking for more evidence that Trade360 is the right choice for you, you could find it among the sparkling array of medals and honors that they have earned at various industry events.
With the help of the CrowdTrading platform, the company was able to bring home the prize for Best Gold Trading Broker at the European Global Business Awards in the year 2020. In addition, the company received a special recognition for'revolutionizing the notion' of online trading.
And that's not the end of it. They won the award for Most Innovative Social Trading Technology for many of the reasons that we discussed in this Trade360 review, which was given out at the same occasion as the other award.
The organization has been awarded the honor of Forex Innovator three times during the course of its history at the AtoZ Forex.com Broker Awards. Trade360 has unquestionably achieved success, as evidenced by the acclaim it has received from its contemporaries.
This Trade360 review was carried out by the knowledgeable traders here at ForexSQ so that you could learn everything there is to know about the Trade360 broker before opening a trading account with this broker or agency. An online forex and Contracts for Difference (CFDs) trading platform that goes by the name trade360 (trade360.com) that was established in 2013, so-called MFP Global Markets Ltd is the Cyprus Investment Firm (CIF) that trade360 is associated with. This trading platform has garnered a reputation as a genuinely original broker due to the fact that it has introduced an innovative facet to the realm of online trading. Trade360's trading platform utilizes a notion that is commonly referred to as the "Wisdom of the Crowd," in contrast to the conventional method of online trading, which places a significant amount of importance on the individual's capacity to select the transactions that would result in a profit.
Trade360, on the other hand, utilizes a specialized trading platform that makes use of a social phenomena known as the community wisdom, in contrast to the majority of brokers in the business. The service is known as "Crowd Trading," and it is provided by Trade360. Crowd Trading makes use of the insights acquired by observing the trading behavior of a large group of traders. This is a novel approach of trading that is based on scientific study. It is based on the observation that when a group of people are presented with the same alternatives, on average they prefer to select the same one.
The trading community is comprised of many various types of traders, and the platform monitors price changes and trading positions across all of these traders. The platform then provides the data in a format that is easy to understand. When this occurs, the traders at Trade360 are able to determine the behavior of the trading crowd in advance of making their own particular trading choice.
Traders that sign up for an account with Trade360.com will only have access to the default trading account type. They have made it possible for everyone to create an account by requiring a minimum deposit of one hundred dollars. This makes it quite inexpensive for anyone to do so. There are many other methods, such as credit or debit cards, wire transfers, or electronic wallets, that may be used to fund the trading account. When it comes to withdrawals, the processing period is anywhere from three to ten business days. It is also important to point out that Trade360.com has a Cashback Rewards program. This is a program through which the firm gives its traders cashback on each deal that the trader prepares, regardless of whether the trader is selling or buying. Take notice, Trade360 does not welcome U.S citizens as customers.
Alongside an actual money account, the broker offers a simulated version of trade360 called a demo account.
Users are eligible to receive a bonus of sixty dollars when they sign up for a new trade360 demo account. The following is a list of the first spreads that the business offers on trading instruments: 0.8 pip movement on market indexes, 5.0 pip movement on commodity prices, and 1.8 pip movement on currency pair prices.
The broker provides access to the web-based platform ParagonEX software, which is recognized as one of the most trustworthy and extensive networks in the world. The fundamental component is the one-of-a-kind Live Feed, which acts as the Trader's continually updated guide to crowd momentum and developments in the market. When a Trader clicks on a Crowd Event box, they are given access to a variety of information, including charts and historical context, pertaining to the movement or event in question. The mobile trading platform for Android and iOS gives a user experience that is comparable to that of a desktop computer as well as increased information streaming. The customizable dashboard is widely considered as one of the most attractive and intuitive in the industry.
The crowd trading app has just been removed. When you download the Trade360 App, you will have the ability to take the cutting-edge Crowd Trading technology with you everywhere you go. The markets are at your fingertips whenever you need them thanks to the Trade360 app. Trade on the go using our mobile app for iPad, iPhone, and Android, and take advantage of all that Trade360 broker has to offer its customers who trade from their desktop computers.
And the answer is, it really is that simple. You may sign up using either
Google+ or Facebook, and doing so will get you a bonus of fifty bucks. In the
event that you feel the need to take it one step further and sign up for a live
account, there is a real money bonus of sixty dollars available to you if you
submit your cellphone number. In addition to this, in order to be eligible for
this peculiar bonus, it is not necessary for you to make a deposit. The minimum
amount required in order for you to begin trading is only $25. The spread that
is offered varies depending on the asset that is being traded; however, to give
you an example, the spread that is offered for forex pairs begins at a minimum
of 1.8 pips. Trading equities and commodities comes with a wider spread, which
at the moment begins at 5 pip increments. The spread on market indices is the
narrowest of any asset class and starts at 0.8 pip.
Users receive a bonus of sixty dollars if they create a new demo account on the platform. The following is a list of Trade360's original spreads on the various trading instruments: 0.8 pip movement on market indexes, 5.0 pip movement on equities and commodities, and 1.8 pip movement on currency pairings.
With the 50 USD Bonus from Trade360, you may get started trading foreign currency, stocks, and commodities. the brokerage powers to securely store all funds in top-tier banks in the United Kingdom. In addition, it is well knowledge that CySEC is the regulatory body for Trade360.
You essential to register at Trade360, a real account
After that, you will provide your actual mobile phone number.
After that, a verification code consisting of four digits will be sent to you.
At long last, you have received your Trade360 No Deposit Bonus, and you are able to begin trading.
Well, as of right now, you can, since Trade360 has developed a bonus feature that enables you to trade even before you put any money into your account. They are giving out a 650 $ trade360 bonus to every user that verifies their account, whether it is a current account or a new account.
At this time, new traders who create actual accounts are eligible to get a cash incentive in the amount of fifty dollars. Only until the trader has confirmed his phone number will the bonus be distributed to him. When traders sign up for a demo account with Trade360, they are eligible to get a bonus worth up to sixty dollars.
After viewing the terms and conditions, bonus funds are available for withdrawal.
After a later time, after you have received the fifty dollars without charge, the bonus account will be available to you. However, if you would like to withdraw the gains or cash created by the bonus fund, there are restrictions that must be met first.
Traders need to make a minimum deposit of one hundred dollars in order to create an account with trade360.com. This broker offers sophisticated services, but the minimum initial amount required is still quite inexpensive. This is especially true when one takes into account the broker's other offerings.
The spreads that are offered by trade360.com are not as competitively priced as those offered by ECN brokers, but neither are they the highest in the business. For example, the spread for the currency pair with the most usual trading activity, EUR/USD, starts at 1.8 pips.
The levels of spreads and leverage might vary depending on the asset chosen. For example, the maximum leverage that may be used to currency pairings, crude oil, silver, and gold is 400:1, but the maximum leverage that may be applied to indices and stocks is just 20:1. Spreads may vary and may not appear to be the narrowest available, but the additional overhead to manage and generate the important Crowd Trading protocols comes from spread income, which is the only cost reviewed for the firm's services.
The minimum deposit required is $25, and it may be done using major debit or credit cards, wire transfers from your bank, e-wallet services, or any of the other standard payment methods. Requests to withdraw funds are processed promptly as long as the necessary anti-money-laundering documentation is kept on file and is kept current. Because the equivalent service must be utilized in reverse, the amount of time required may change based on the method that you select to make your new deposit.
The Trade360 system is a refreshing departure for inexperienced traders, which is surely something they will like. Now, inexperienced traders may have more confidence in their trading selections by relying on the collective expertise of the trading community. This information can help rookie traders steer their trading decisions in the right direction.
Trade360 is subject to the laws and regulations of a number of different countries. In the Marshall Islands, they are known as ST Services Ltd and their registration number is 83416. In Cyprus, they are known as Crowd Tech Ltd and their CySec license number is 202/13. Additionally, the Financial Conduct Authority has granted Crowd Tech Ltd (FCA / EEA Authorised 622532) permission to sell specific goods and services within the United Kingdom.
The jurisdiction from where your regulation originates will determine the amount of protection afforded to your cash. It is not feasible to determine what your regulation is at this time due to the fact that there are many different permutations that go into defining your regulation. You will need to verify with the manager of your account to see which regulatory body you fall under.
It is not possible to participate in a financial compensation program if you are subject to the laws of the Marshall Islands.
If you are subject to the regulations of CySec, there is a possibility that you will have access to money protection. In the event that a firm goes out of business, all brokers that are authorized by CySec are required to become members of "The Investor Compensation Fund," which provides a guarantee of money equal to 90 percent of the customer's remaining deposit, up to a maximum of €20,000. On the other hand, according to CySec, this sum may be as little as €3,417 depending on the organizational structure of your broker. Because the answer is dependent on both your nation and its regulations, you will need to check with the manager of your account to see which solution is appropriate for you.
Keep in mind, too, that if you trade cryptocurrencies using CFDs (contracts for difference; trading the prices of cryptocurrencies without actually holding the cryptos), you will not be protected by the Cyprus Investor Compensation Fund. Because cryptocurrencies are not considered to be 'financial instruments,' the MIFID II law does not recognize them. If, on the other hand, you had created your account with a broker that was regulated by the FCA, both you and your assets would have been safeguarded by the FSCS.
It is strongly suggested that you select a broker who is regulated by the Financial Conduct Authority (FCA) in the United Kingdom or the Financial Market Supervisory Authority (FINMA) in Switzerland and who offers government-backed client funds protection (one hundred percent of the remaining deposit) up to GBP 85,000 (FSCS) or CHF 100,000 (Esisuisse), whichever is greater. In the event that there is a disagreement, these restrictions are more stringent, the regulations themselves are more clear, and they are more focused on the customers.
Before getting involved in a financial market of any kind, whether it be the foreign exchange market (Forex), the stock market, or just about anything else, prospective traders need to be aware of the fact that they require a reliable broker, someone in whom they can place their faith. Brokers, as you may already be aware, serve as your partners in the trading process. Not only do they establish connections between you and the liquidity providers who, in essence, provide the trading assets, but they also provide a variety of tools, features, and indicators that assist you in maximizing the amount of money you make.
Sadly, there are a lot of dishonest brokers operating on the internet, and their sole objective is to lure unsuspecting customers into their Ponzi schemes so they may steal their money. Additionally, in today's world, it is not as simple to differentiate con artists from genuine brokers. By providing extremely high leverage ratios, extremely narrow spreads, and other characteristics similar to these, con artists have learnt how to make a poor trading platform appear to be more appealing than it actually is.
In spite of everything said above, locating a trustworthy brokerage is not an insurmountable task. To do this, all that is required is some time and effort. For our part, we would want to assist you in the decision-making process, and that is why we are providing you with this Trade360 review. In this evaluation, we will take a look at the broker's website, licensing, trading terms and conditions, as well as other significant factors.
In recent years, a large number of platforms have been available; nevertheless, the Trade360 Forex broker appears to be providing its customers with something novel. The broker appears to be giving a completely novel and forward-thinking approach, which centers mostly on the idea that is referred to as the "wisdom of the crowd." This theory provides consumers with the option to examine how the market is feeling before they start a position. The claims that this firm makes are really impressive. After all, having an awareness of how the market is feeling before to making this deal enables you to execute a transaction that genuinely maximizes the rewards to which you are entitled.
How exactly does the organization accomplish this goal? Although we do not
know everything for certain, there is one thing that we are certain of: this
characteristic is not one that is exclusive to the website, since there are
indicators that give the same service across all brokers and platforms. On the
other hand, this by no means justifies criticizing the broker for repeating an
action that has already been taken. Instead, we must applaud them for adopting
an existing service and introducing its own unique take on it in the market.
Once we actually see the license, there's not much more to dispute here: the broker states that it is licensed and regulated, which would set it apart from a great number of other organizations. A license issued by CySEC to the Trade360 Forex broker ensures that it does not engage in any unethical or illegal activity. Regrettably, it would appear that the internet is not yet convinced of the legitimacy of Trade360. There are a lot of reviews available for Trade360, and the vast majority of them center on one particular point: that the broker is not everything that it claims to be.
However, after reading those evaluations in person, we were unable to determine just which aspect of the broker appears to be false or less than satisfactory. We have reason to believe that such evaluations are what are known as "anti-promotional" pieces, which are written with the goal of smearing the broker's reputation.
Let's begin by discussing the website, namely its layout and the information that it provides. The user interface appears to have been given a rather contemporary and clean design. Even if there are some aesthetic effects and decorations that would be better off if they were totally excluded, the website is not, by any stretch of the imagination, rendered unusable as a result of their presence.
When it comes to the informational capabilities of the platform, nearly any and every information that a trader would be interested in learning about the broker is made available there. There are a total of thirteen distinct themed parts, each of which includes information regarding crowdtrading, trading platforms, terms and conditions, and a great deal more besides. So, if you want to find out what the leverage ratios or spread levels are, or if you want to discover which instruments you may use in trading, all you have to do is navigate to the drop-down menu and locate the area that is relevant to your inquiry.
The Trade360 FX brokerage is able to provide the trader with precise signals by basing them on the consensus of the thinking of a number of different trading groups. The procedure is not difficult to grasp in any way. The site shows tickers for each asset, which include the bid and ask prices as well as the proportion of traders who have started either a long or a short position at the same moment on the particular instrument. For instance, the proportion of traders who have started long bets on the S&P 500 at a certain time is 67 percent, and the percentage of traders who have short positions is 23 percent.
The ability of traders to monitor the emotion of the crowd prior to placing a deal provides them with a significant competitive edge over those who use other trading platforms. Traders are able to gain an understanding of the subsequent stage in their trading that will be best suitable for them. Despite the fact that this appears to be a rather unproductive choice when it comes to trading. People will strive to either follow the market sentiment or go against it if it is continually displayed, which will lead the market sentiment to become more volatile. If the market sentiment is constantly displayed. In point of fact, if all users see the same data, they will respond in the same manner to it. This will reinforce a trend that might have gone in a different direction, which will cause many traders to suffer financial losses when the rest of the market decides to stop following the trend.
Because of this, the broker recommends to his clients that they approach this characteristic with extreme caution. They might be under the impression that the tool provides them with an accurate projection of the future price movement, but before they realize it, the whole trading community will have taken the exact same action. Again, the fact that the broker is cautioning its customers about this potential risk raises the credibility of our assessment of Trade360 to a whole new level.
In addition to this function, which gives users the ability to investigate how different market players feel about a certain instrument, the platform provides users with one more essential feature. An indication that is presented on the right side of the screen, it depicts unexpected fluctuations in audience emotion as well as the pace at which these swings occur for all of the instruments. Traders that use this strategy may stay one step ahead of the competition and always be prepared to seize an opportunity the moment it presents itself.
As was just indicated, a feature such as this one makes it easier to collaborate with the broker, provided, of course, that the broker can be relied upon to deliver reliable services. In essence, having such an indication makes the trading process more comfortable since it eliminates the need for the trader to look up each instrument in order to remain informed about the emotion of the public. But when it is exploited for nefarious purposes, it gives the broker the ability to more or less control the expectations of the trader and to use these expectations in order to benefit themselves by trading against the traders. This results in the broker being able to control the expectations of the trader.
In addition to the "crowd trading" function, members of the Trade360 broker have access to a user-friendly web-based trading platform that does not require a download. Simply based on this characteristic alone, there is reason to be cautious simply because it indicates that the broker is reluctant to invest in their products. In addition, fraudulent financial schemes are far more likely to occur on a WebTrader platform as opposed to others that are more general, such as MT4, MT5, and cTrader.
To our great fortune, the Trade360 MT5 may also be accessed through the internet. Along with it comes a plethora of other trading tools and indicators, economic calendars, and many other features, all of which work together to ensure that the experience on Trade360 is as high-quality as it possibly can be.
There are additional applications for mobile devices running the iOS and Android operating systems. Users are able to quickly set up their accounts thanks to the straightforward process that is required to create an account with this broker. You have the option of utilizing a credit card, debit card, electronic wallet, or direct bank wire to fund or withdraw money from your account; the processing period for any of these options is typically approximately three business days. When taking into account the many financial platforms that are accessible through the platform, it is possible for us to state with absolute certainty that Trade360 utilizes the most reliable and dependable platforms that are now present in the global financial market. And despite the fact that we'd be overjoyed to see other platforms similar to PayPal and Bitcoin, we're nonetheless pleased by the range of platforms that are now available.
Traders have the opportunity to open demo accounts as well as real money
accounts, with a reasonable minimum deposit requirement of $500 and high
leverage, such as 200:1 on commodities, 20:1 on stocks, 50:1 on indices and
CFDs, and 400:1 on forex. The minimum deposit required to open a demo account is
$100. In addition, investors who have confirmed their phone numbers are eligible
to get a cash incentive of fifty dollars when they register a genuine trading
Users are eligible to receive a bonus of $60 just by creating a new demo account. The beginning spreads for the following trading instruments may be found on Trade360: 0.8 pip spread on market indexes, 1.8 pip spread on currency pairings, and 5 pip spread on commodities and equities.
Let's speak about trading terms and conditions one more time before we wrap up, because this topic is by no means the least important. Let's compare our terms and conditions to the market average. Let's begin with the use of leverage. As was said earlier, Trade360 provides its users with a maximum leverage ratio of 400:1, which is quite beneficial for a great number of traders of various experience levels.
Consider that you are interested in commencing a deal for one lot (100,000 currency units). In most cases, you will be required to make the entire deposit out of your own personal funds, which is an evident significant financial burden for anyone. And that's not even ignoring the fact that there are far more opportunities for that money to be wasted than there are for it to bring in even more money.
However, you may avoid spending your own money and instead make advantage of the leverage available to you. Because of this functionality, a trader is able to borrow money from their broker and invest it in a real-world transaction. You may create the identical position for one lot but deposit merely a portion of it from your own pocket thanks to the leverage of 400:1 that is provided by the Trade 360 FX brokerage. The calculation is as follows: 100,000 divided by 400 equals 250 currency units. In addition to this, you may anticipate gains that are four hundred times more than those you would obtain with the current sum of $250 in your account.
When it comes to spreads, the broker understands the need of maintaining a consistent revenue stream in order to support its platform and hence does not go overboard with the implementation of this feature. At the moment, the Trade360 Diamond account package offers the lowest spreads for forex pairings such as EUR/USD, GBP/USD, USD/JPY, and so on. If you want to take advantage of these low spreads, you will need to sign up for this account. However, what exactly does it imply when it says that the broker must a source of income?
Commissions and spreads are the two primary sources of revenue that the vast majority of brokers rely on to make their living. Since there are no commissions on transactions or trades when using the Trade360 Forex broker, the only real revenue that can be generated is through the use of spreads. And here is how they function: when a trader purchases an asset, such as the EUR/USD pair at an exchange rate of 1.2345, they are unable to sell it at the same price. If they wish to sell the pair at precisely the same moment without the price changing, the broker will give them a lower price, which will be somewhere around 1.2343. When done in this manner, a trader will receive a lower amount of dollars in exchange for the sale of their euros. Spreads are defined as the difference between the price at which an item is being offered for sale and the price at which it is being asked for.
Let's now give a speedy rundown of what the broker has to offer in its entirety. The broker requires a minimal initial deposit and provides a large leverage for trading. In addition, the spreads on trade instruments are extremely fair and, although they are not the narrowest on the market, they are still pretty acceptable. It is not possible for nationals of the United States to open accounts. If the broker did not have access to any regulatory material that placed constraints on its behavior, none of this would have any significance.
Despite this, we were successful in acquiring a CySEC license that is not only valid throughout the European Union but also ranks among the highest-quality financial resources available on the market today. Because of this license, all concerns regarding the legitimacy of Trade360 have been reduced to the level of mere speculation.
What has the potential to terrify us the most is the one-of-a-kind characteristic known as "crowd sentiment," which may be utilized by the broker in order to manipulate the traders into trading in the manner in which the broker wants them to trade and in which the broker stands to benefit the most from such trading. However, Trade360 itself cautions its potential and present customers that trading with this tool is rather risky and that they should exercise caution if they want to use it in the future.
The combination of all of these previously stated services and trading circumstances results in a trading service that is, at the the least, respectable and, without exaggerating the situation, outstanding.
CrowdTrading, an innovative and ground-breaking approach to online trading, is one of the services that Trade360 provides to its customers. Trading based on the "Wisdom of the Crowd" is a common phrase used to describe this strategy. Traders use a strategy called crowdtrading, which allows them to monitor both the majority and minority trading choices made by the crowd.
After conducting a thorough analysis, we have determined that the firm in question is legitimate and worthy of recommendation. All traders are afforded the most possible leeway regarding the minimum deposit requirements by this broker. At AtoZMarkets.com, we put the needs of our users first in everything we do. As a result, the well-being of our customers and clients is the single most important aspect of our field of work. However, we will never be content with the public knowledge that Brokers provides, so we must delve further. Quite frequently, we will also test brokers directly while simultaneously opening live and demo accounts.
In light of the information presented above, we make it a point to investigate thoroughly the background, services, and reputation of any potential brokers. In regard to this Trade360 broker evaluation, the exact same criteria should be adhered to. Please take the time to read this article, which explains how we perform our broker reviews.
Trade360 is a Forex and CFD broker that was founded by seasoned industry professionals with expertise in technology. Trade360 is owned by Crowd Tech Ltd., which is licensed and regulated by the Cyprus Securities and Exchange Commission under the license number 202/13. Crowd Tech Ltd.'s registered office is located at 116 Gladstonos, M. Kyprianou House, 3rd & 4th Floors, 3032, Limassol, Cyprus. Trade360 was founded in 2013 and quickly rose to prominence due to the cutting-edge technology and trading platform that it provided. Through its user-friendly web portal as well as the robust MT5 platform, this broker makes trading options available for in excess of 400 different financial products.
The firm identifies "PX Exchange" as its exclusive liquidity provider and the single execution venue for all client orders in the document titled "Best execution policy." This information may be found in the company's website. Trade360 operates as clients' agents throughout the entirety of their transactions. On a few separate occasions, a number of prizes of various kinds have been bestowed to the organization.
The awards were given primarily as a form of acknowledgment for the outstanding work performed in the area of innovation. The title of "Forex Innovator" was bestowed upon Trade360 by AtoZforex.com in the year 2016. In addition, The European Global Banking & Finance awards 2017 presented Trade360 with the honor for "Most Innovative Social Trading Technology." Trade360 earned this award.
Trade360 employs a dual-firewall defense strategy, with one located at the
application level and the other located at the server level. This choice is made
to guarantee that no unauthorized access attempts will be tolerated at any point
in the future.
Users and data transfers are both authenticated with the use of a sophisticated Verisign SSL. The information pertaining to transactions is kept on a different data server from the one that manages the online activity of traders, which is a separate entity from the server that handles traders' online activity.
In addition to this, it utilizes two distinct server farms that are located in two separate areas. Because the data should be synced to both places, it is impossible to change it, and encryption ensures that every piece of data stored on servers is safe from prying eyes.
At all times, armed guards are stationed to defend the server farms. It is strictly prohibited for any unauthorized worker to step foot on the premises of the server farms.
Trade360's online trading platform, which is also the company's proprietary platform, is available to customers. This cutting-edge system, which goes by the name CrowdTradingTM, makes use of it. The reasoning behind this trading platform is that traders have a better chance of success if they are aware of the precise actions that other traders are taking in relation to the markets in real time. It is a platform that is based on the web and may be used with any operating system.
In addition to this, it provides access to the MT5 trading platform, which is a cutting-edge trading environment designed specifically for the expert trading of CFDs and FX. It is a highly developed, lightning-fast, and packed platform that provides a large number of vital tools for trading and analytics.
The trade330 platform may be accessed via mobile applications and is accessible in eleven different languages. It is the default platform that is offered to all customers once they have registered for the service.
The following is a list of some of the features that this platform offers:
The "buy" and "sell" prices are updated in real time and are shown.
Deposits may be made, requests for withdrawals can be made, and verification papers can be uploaded using the Account Management options.
Traders are able to examine the percentage of buy and sell orders for each instrument, which allows them to better understand market sentiment.
The advanced charting method utilized six different chart types across 10 different periods.
The live stream displays events that were created by the crowd, such as trend spotting and trend reversal, among other things.
Within the realm of technical analysis, one can choose from more than 115 technical indicators and 20 different analytical instruments.
Trading Central has provided an exclusive insight.
The sorts of accounts available to traders are determined by the types of investments they make and the platforms they choose to utilize. Every account type has the opportunity to participate in trades using the CrowdTrading platform. Every account type, with the exception of the Mini account, has access to the MT5 platform.
According to the regulations of CySEC, Professional clients and Eligible clients can be kept apart from one another. Only seasoned traders who have a large amount of assets in their portfolios worth at least $500,000 are eligible to be considered professional customers. This status cannot be changed. Due to the fact that professional clients appear to have extensive trading expertise, it is important to note that these clients do not qualify for the same protections as non-professional clients.
There are a variety of account kinds available, including the following:
Mini account: The minimum contribution of $500 is required to open one of these accounts. Trading signals as well as a live stream from CrowdTrading may be accessed using this account. Client service is available around the clock for traders.
The Standard360 account requires a minimum deposit of $1,000 in order to open an account with them. The spread for EUR/USD typically begins at 3 pips on average. The MT5 trading platform will be available for use by speculators and investors.
Gold account: A minimum deposit of $5,000 is required to open this type of account. Push notifications and text message alerts will be sent to account holders with unique market updates. Traders have the option of using MT5, in addition to live chat assistance.
The minimum deposit required to open a platinum account is ten thousand dollars. Clients who have accounts receive the same services as those who have Gold accounts. The spread for EUR/USD begins at 2 pips as well.
The Islamic account has a minimum deposit requirement of $10,000, according to Islamic360. Because of this, the account in question is exempt from any fees associated with rollovers. Islamic360 accounts are accessible on request.
The minimum deposit required for a VIP account is a whopping fifty thousand dollars. The spread on the EUR/USD pair for this account begins at 2 pips.
In the EURUSD market, the spread that trading accounts charge ranges from 2 pips to 4 pips. In addition, trading positions that are maintained open overnight incur a commission, which may be charged to the customer or paid out to the customer depending on the outcome of the position. This takes place at 00:00 local time (GMT). Commission rates are variable depending on the current market circumstances and liquidity levels.
Trade360, on the other hand, does not impose any fees on either the deposits nor the withdrawals.
You are only permitted to trade Bitcoin/US Dollar CFDs with a fixed leverage of x4 while using Trade360.
In the EURUSD market, the spread that trading accounts charge ranges from 2 pips to 4 pips. In addition, trading positions that are maintained open overnight incur a commission, which may be charged to the customer or paid out to the customer depending on the outcome of the position. This takes place at 00:00 local time (GMT). Commission rates are variable depending on the current market circumstances and liquidity levels.
Trade360, on the other hand, does not impose any fees on either the deposits nor the withdrawals.
Traders can browse the area labeled "Often Asked Queries" to read through answers to the majority of the questions that are asked frequently. In addition, the many ways to get in touch with Trade360 include live web chat, fax, email, and phone request.
The company known as ST Services Ltd. trades under the name Trade360. The European division of Trade360 is managed by Crowd Tech Ltd. It is a publicly traded corporation that has its headquarters in Cyprus and is governed by the Securities and Exchange Commission of Cyprus (CySEC). This company's license number is 202/13, if you're interested.
Through each of its trading accounts, Trade360 makes it possible to engage in financial transactions using a diverse range of trading instruments, such as forex, indices, stocks, commodities, and exchange-traded funds (ETFs), amongst others. Because of the exclusive option to trade in the cloud, the firm is both original and forward-thinking within the sector.
In addition to this, you are able to readily observe the market mood of all of the traders who are a part of Trade360's community, which makes it simpler for you to make judgments regarding your trades.
The trading community is comprised of a wide variety of traders, and the platform monitors the trading positions and price movements of all of these traders. Additionally, the platform provides the data in a style that is simple to comprehend. Before they make their own choices on how to trade, traders on Trade360 have the ability to study the behavior of the trading public and learn from it.
Trade360 offers traders not one, but two distinct kinds of incentives: deposit bonuses and no-deposit bonuses. Please visit the Terms and Conditions page for more information on the specials that are now running on Trade360.
Traders receive a reward for each and every transaction they complete while using Trade360. Trade and get paid. Find the icon labeled "Cashback" in the asset box to view the percentage of Cashback you are eligible to receive. The larger the transaction, the more you will be rewarded.
When you make a trade, you will get cashback benefits for each transaction. This one-of-a-kind platform offers individualized atomized trading aims as well as cashback on each and every trade that is initiated. The amount of cashback received is proportional to the size and type of the account.
Trade360 was the very first platform in the world to be used for CrowdTrading
when it was launched in 2013. The so-called 'wisdom of crowds' theory underpins
its operation. Before opening their own positions on a diverse range of assets,
such as currency pairs, commodities, indices, stocks, and exchange-traded funds
(ETFs), traders are able to monitor the major market-moving events as well as
the movement of large groups of traders thanks to the Live Feed feature offered
by the company.
Trade360 is an online platform for trading currencies and contracts for difference (CFDs) that was launched in 2013. MFP Global Markets Ltd. operates under the brand name of Cyprus Investment Firm (CIF), which is a registered trademark. The Trade360 trading platform has been recognized as an innovative broker since it has introduced a new facet to the realm of online trading. This is the primary reason for this recognition. The trading platform offered by Trade360 makes use of a notion known as the "Wisdom of the Crowd." This is a novel approach to online trading, which traditionally has relied primarily on the individual's capacity to select profitable deals as the primary factor in determining whether or not they would be successful.
Trade360's invention of a novel and forward-thinking strategy known as Crowd trading has caused a change in the financial markets, and this revolution has been brought about by the world of internet trading.
The CrowdTrading Algorithm is built of a number of different technologies in their entirety. These programs recognize trends in the behavior of traders and indicate sudden shifts in certain assets. All of this information then assists traders in making trading decisions that are successful and well informed.
CrowdTrading is not the same thing as Signals trading, despite the fact that there are some parallels between the two. You don't imitate the trades of a particular signals source; rather, you follow an entire market trend. This trend is produced by a group of traders at a given period, and you follow the crowd.
Crowd trading is predicated on the idea that the knowledge held by a big group of average people is frequently more reliable than the information held by a single knowledgeable individual.
You are able to link social media profiles such as Facebook and Google+ to the trading account. This enables an additional and distinct external social component to be added to your experience of trading.
One and only one type of regular trading account is provided to traders by Trade360. Anyone may start an account, even if there is a required minimum deposit of $100, and doing so is reasonably inexpensive. You have a number of options available to you for funding your trading account, including credit and debit cards, electronic wallets, and wire transfers. The time it takes to process withdrawal requests ranges anywhere from three to ten business days. Cashback Rewards is a program that Trade360 gives to its traders. Through this program, Trade360 offers cash back to its traders on each deal that the trader does, whether the trader is selling or buying. Trade360 does not accept U.S citizens as clients.
Trade360, in contrast to the vast majority of brokers operating within the trading business, makes use of a proprietary trading platform that takes use of a social phenomena known as the collective wisdom. The company Trade360 refers to this service as "CrowdTrading." It makes advantage of the insights obtained from watching the trading behavior of a large number of traders simultaneously. It is a new method of trading that is based on findings from scientific study that shows that when a group of people are presented with the same alternatives, on average, they prefer to select the same one.
Trade360 broker is the property of the firm Trade360 Ltd, which has its headquarters in Limassol, Cyprus. Development of Trade360 broker began in 2013. Additionally, it has a location in the United Kingdom, which lends even more credibility to this broker. It is a licensed broker with the Cyprus Securities and Exchange Commission (CySEC), and its license number is 202/13.
The CrowdTrading function is used by this foreign exchange broker, Trade360, in an effort to broaden your trading opportunities, as was previously noted in the evaluation of Trade360.
This style of trading is one of the distinguishing characteristics of Trade360. It gives traders the opportunity to base their trading decisions not only on technical analysis and news but also on a few other aspects of the market as well.
The results of CrowdTrading reveal how actual traders selected whether or not to trade a certain instrument. It represents the proportion of all traders who opted to purchase as well as the number of traders who decided to sell. In addition to this, it displays the percentage of different types of traders operating in your nation as well as the highest-performing traders who are registered with Trade360.
In addition, this function gives you the ability to view projections of how the market will respond to upcoming events. In addition, if the event has already taken place, CrowdTrading will show you whether or not the forecast was accurate. This allows you to choose whether or not you should rely on traders or if you should trade on your own. This function will be helpful to both types of traders, those who trade with an existing trend and those who trade on the market's turning points.
Because they are dedicated on CrowdTrading, this broker does not have a diverse selection of accounts to present to you as an option. In point of fact, when doing our Trade360 evaluation, we discovered only actual and demo accounts. The fact that you will be able to sign up for your Trade360 Real Account using either your Facebook or Google+ account is easily the finest feature of this account. Because of this, you won't have to bother with verification emails or extra passwords; instead, you'll simply have to click one button to log in, and then you'll be ready to start trading in real time. The genuine account has a minimum deposit requirement of just 25 dollars, which is another one of its fantastic features. Therefore, in order to get started with CrowdTrading through this Forex broker, you do not require a large sum of money for your initial investment.
The ability to test out the many possibilities offered by CrowdTrading is the most valuable aspect of the sample account. You may test out CrowdTrading with a demo account if you are unsure whether or not it would be beneficial for you to use the platform.
When implementing new features, Forex traders frequently need to construct new trading platforms or add-ons to their existing ones in order to accommodate the new functionality. According to the findings of the Trade360 study, this broker provides traders with access to their own own trading platform. Because the platform can be accessed directly through your web browser, there is no need to download anything onto your personal computer.
Overall, platform is comfy and does not require any tweaking. You are able to observe a number of instruments at once in the form of little icons, or you may open a complete view on the particular instrument. In addition to this, it provides a wide variety of indications that may be used to do technical analysis. The CrowdTrading field is displayed on every screen of the Trade360 trading platform, which ensures that you are constantly aware of other traders' projections regarding price fluctuations. This is the finest feature of the Trade360 trading platform.
Trade360 has further ensured that the crowd trading will also be accessible via your mobile devices. Therefore, if you want to trade on your mobile device based on the forecasts of other traders, all you have to do is download the Trade360 app from Google Play or the App Store, and you can get started trading!
Trade360 makes it rather simple to make deposits, especially considering the variety of different financing ways that are at your disposal. You will be able to utilize electronic wallet payments through a variety of platforms, including Skrill, Neteller, Sofort, and others in addition to the industry-standard wire transfers and credit card payments used in the foreign exchange market.
At Trade360, you are able to use the same method that you used to make a
deposit in order to withdraw any earnings. Therefore, if you have used Skrill to
make a deposit, you will be required to use the same method of payment in order
to make a withdrawal. Be informed that any withdrawals with a total amount that
is more than the amount that you deposited will only be processed through a bank
transfer. In most cases, the withdrawal process takes between 7 and 10 days.
It is essential for a reputable foreign exchange broker to constantly be reachable by the customers that use their services. When something is not functioning as it should, having access to reliable customer service may make a world of difference.
When you join up to use Trade360 as your forex broker, you will be provided with a number of different channels via which you may communicate with the company. To begin, this particular broker offers a live chat support service that is available seven days a week, twenty-four hours a day.
In addition, the Trade360 study discovered that it is possible to communicate with this broker by e-mail. The support staff is trilingual, speaking English, Dutch, and German.
It has previously been mentioned that this broker's CrowdTrading method is the primary distinctive quality that sets it apart from other brokers. Traders who have little expertise in the market are able to find backing for their trading judgments in the predictions made by pros. In addition to that, this method integrates flawlessly with the trading platform offered by the broker. The fact that this broker just requires a little investment to get you started in the market is yet another one of its many impressive features. This foreign exchange broker receives 3.5 stars out of a possible 5 from the Trade360 review due to the numerous advantages and developments it offers.
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Because it provides traders with access to a more advanced trading platform, I like that Trade360 provides MT5 in addition to the ParagonEX trading platform. Additionally, algorithmic trading is supported, and the incorporated copy trading platform continues to be better than the Trade360 CrowdTrading feed, which is a modified mood indicator.
Trading with a broker who is subject to regulation will reduce the risk of being a victim of fraud or malpractice. Traders should always check for regulation and verify it with the regulator by confirming the given license with their database. This may be done by providing the license number. Trade360 offers its customers the choice between two different regulated companies.
For social traders who are ready to endure a higher overall cost of trading and maintain passive equities portfolios, the trading environment at Trade360 is one that I find to be particularly favorable. It is an effort to capitalize on cognitive research that investigates the idea that the decisions made by a crowd would be superior to those made by individual experts. This hypothesis is not supported by the loss rate of 68.01 percent that was recorded by Trade360 in the EU. This rate ranks on par with that of well-established brokerages that provide outstanding in-house research conducted by seasoned experts.
Although the total trading charges are fairly expensive, Trade360 now offers a commission-based MT5 trading account. Despite the fact that it does not now publish specifics for this on its website, it is still available to users.
Trade360's cutting-edge software for mobile devices and the web has more than a thousand different symbols. Additionally, it is compatible with MetaTrader 5, giving it a flexible platform that can be used for trading CFDs and FX. In spite of this, Trade360's market research and instructional content are severely lacking, and the spreads are far higher than those offered by competitors.
The CrowdTrading program provides trading signals that are directed by customer sentiment data that is crowd-sourced.
Provides six distinct account options, with deposit requirements ranging from $250 to $100,000.
It does this by offering helpful topic indices through its Industry Stock and Smart Collections.
Traders have the ability to tailor their leverage on a per-transaction basis through the use of the Self-Select tool.
The event information on an economic calendar is helpful since it indicates affected symbols.
Experience on the Trade360 mobile app is quite similar to that on the online platform.
ASIC in Australia and CySEC in Cyprus are the two organizations responsible for regulation.
A minimum investment of one thousand euros is required in order to use the Trading Central tools.
Spreads are pricey, ranging from 1.8 to 4 pips on the EUR/USD pair depending on the kind of account used.
Videos reporting on the financial markets have become obsolete.
The Daily Market Report focuses solely on providing technical analysis for two important symbols.
A very limited amount of instructional information is available, consisting of only a few articles and videos.
There are maybe ten articles that may be considered instructional.
PX Exchange in Belize, an IFSC-regulated organization, is the destination for trade executions.
The Australian Securities and Investment Commission is one of the tier-1 agencies that has granted Trade360 permission to operate (ASIC).
Sites like Trade360 in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.