Is Trade.com a fraud or is it legit?
Things are changing fast at TRADE.com and seemingly for the best. This is one leading CFD brand that offers the earth and delivers the universe. Not only is this a highly regulated brand, operated by Livemarkets under FCA and TCM under CySEC and FSCA, but also, it’s now so much more than just a CFD provider. The firm has recently relaunched itself to offer over 2100+ CFDs on its proprietary platform or MT4, but now also offers a whole lot more. This multi asset brokerage firm gives access to IPO investing opportunities of some of the latest hot start ups before they go public, they also offer Thematic trading, which seems to be the new hot area of trading, and they give Direct Market Access to hundreds of thousands of assets through their joint venture with Interactive Broker. Other than this they also offer some amazing asset management services provided through their partnership with Argus FX.
The website was recently relaunched and is the kind of gateway to these incredible investing opportunities. Over the course of the review we will focus purely on the CFD side of the business.
Is Trade.com legit?
Absolutely. The brand under the umbrella of LiveMarkets and TCM is regulated by some of the key European regulators which include FCA in the UK, CySEC in Cyprus and they conform with MiFID directives. Plus they are regulated in South Africa by FSCA. The broker form part of an investor compensation scheme and they segregate client funds from their own. All in all, this a highly legit firm.
Trade.com review – The Website
The website as we mentioned has been redesigned and relaunched to display all of the new products. The main homepage links to a new sub website for each of the products. If we look at CFDs then clicking on the CFD section of the homepage directs to a separate website reserved for CFDs. This contains all the information you will need on available assets, account types, spreads and so on.
In terms of the structure of the company read the following: TRADE.COM is a trade name operated by Trade Capital Markets (TCM) Ltd (ex. Leadcapital Markets Limited) and Livemarkets Limited. Trade Capital Markets (TCM) Ltd is authorized and regulated in Cyprus by the Cyprus Securities and Exchange Commission (license number 227/14), and authorized in South Africa by the Financial Sector Conduct Authority (FSP number 47857). Livemarkets Limited is authorized and regulated in the United Kingdom by the Financial Conduct Authority (Firm Reference Number 738538).
Trading: Account types, spreads, leverage and platform
The broker offers a wide selection of 5 different account types, in addition to the demo trading account where they offer $10,000 in virtual funds. Each of these account types is suited to a different type of trader ranging from micro account, which best suits a hobbyist or beginner who is practicing. This goes up to the Exclusive account which is well-suited to the institutional or professional trader who will need to deposit a minimum of $100,000. The Gold account is seemingly the most popular. Each account comes with its own benefits and trading conditions which includes things like Daily Analysis, Premium customer account and analysis from Trading Central. If you have any questions about which account type might be best suited to you, you can speak to the customer support team 24 hours a day 5 days a week.
Spreads, leverage and the good stuff
Trade.com offers its clients 55 currency pairs that they can trade with, which is a good amount and a nice variety for beginner and professional traders alike. Beyond just Forex, the broker also offers their users a number of options trading other financial assets including ETFs, Stock, Commodities, Indices and now, Cryptocurrencies too. All of the assets are CFD trading exclusively. In total, traders will have access to around 2100 types of financial assets, which is a huge amount of trading options.
The spreads on the most popular currency pairs are rather standard. They are close enough to the average and seem to be rather manageable. The positive aspect of all this is that the spreads on the platform can be either fixed or variable, meaning that certain assets can be traded at different costs to what the traders actually expected they would be incurring.
The Trade.com FX brokerage also offers their customers some very solid leverage ranging, going up all the way to 1:300. This is for a trader who can prove himself to be a professional traders. Otherwise typical leverage is up to 1:30. Leverage which can be an excellent thing for a trader who knows how to use it, can also be pretty dangerous to beginners if they are not careful. Different levels of maximum leverage are available for different types of assets, with the highest leverage being available for Forex. To be able to access higher leverages, clients will have to be classified as professional traders.
Trade.com review of the platform
The broker also offers three types of platforms – WebTrader and MetaTrader 4. This type of variety allows for all traders to have a chance to pick their preferred platform and work with it. The MT4 is highly respected and a well loved platforms by most traders. The Webtrader which is a proprietary platform, built in house by TRADE.com allows users to do some browser trading, which can be very useful to those who do not have the ability or desire to download any software on their PCs or laptops. This platform contains some really amazing features, including a huge selection of indicators, some amazing asset insight and statistics and a really great user interface which makes it easy to use this platform.
In addition to the MT4 desktop and the Wen Trader you can also use the MT4 mobile too on your smartphone. The presence of so many trading platform options increases the Trade.com rating overall.
With all of these details, and many more, we can safely recommend TRADE.com as a leading broker. It is one of the better, if not the best, brokers to work with. These guys provide you with helpful customer service, good working options, and some nice platforms to work with. Their spreads are acceptable and the updated website is very functional and not too hard on the eyes.
Remember spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.84% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money