Information
Trade360: An In-Depth Review by Trade Forex
Introduction to Trade360
Trade360 is a globally recognized brokerage firm that initially established itself in 2013 in an offshore jurisdiction, the Marshall Islands. Over the years, it has expanded its presence and currently maintains offices in Cyprus and Australia. This strategic expansion has opened up doors for European and Australian traders, ensuring a secure trading environment for Forex and CFD trading, as these entities are duly regulated and overseen by local authorities.
Regulation and Jurisdictions
Trade360 operates under the regulation of three distinct jurisdictions:
- Cyprus (CySEC Regulation) – Serving European traders.
- Australia (ASIC Regulation) – Catering to Australian traders.
- The Marshall Islands – For international traders.
It is important to note that not all jurisdictions provide the same level of security for your funds. While registering with an offshore company in the Marshall Islands is an option, it does not offer the same guarantees in the event of the broker’s bankruptcy. Therefore, it is advisable to consider opening accounts with regulated entities within Trade360, where trading conditions align with the regulations set forth by local authorities concerning investor protection.
Leverage Levels at Trade360
The maximum leverage offered by Trade360 varies depending on the legal entity and regulatory obligations in specific jurisdictions. Here’s a breakdown:
- European retail traders registered through CySEC can access leverage of up to 1:30.
- Traders registered through the Australian entity regulated by ASIC and international jurisdiction in the Marshall Islands can enjoy leverage ratios of up to 1:500.
These leverage levels cater to the needs of both retail traders and professionals, adhering to the respective regulatory frameworks.
Account Types Offered
Trade360 provides a range of six account types, each defined by the size of the initial deposit. The account types include:
- Mini Account (Minimum Deposit: $250)
- Standard Account
- Gold Account
- Platinum Account
- Diamond Account
- VIP Account (Maximum Deposit: $100,000)
Additionally, Trade360 offers an Islamic account upon request for traders who require it.
Commissions and Fees
Trade360 employs floating spreads based on prevailing market conditions. Notably, spreads tend to narrow as you ascend to higher-level accounts. However, it’s worth mentioning that Trade360’s spreads are relatively higher when compared to some of its competitors, even with the highest account type offering spreads higher than those found in standard competitor accounts.
Here’s a comparison of Trade360’s commissions with two similar brokers, JP Markets and FXTM.
| Broker | Commission Structure | Spread Levels |
|---|---|---|
| Trade360 | Floating Spreads | Relatively Higher |
| JP Markets | Competitive Spreads | Competitive |
| FXTM | Variable Spreads | Competitive |
Trade360 Trading Platforms
Trade360, a FINTECH-driven company, has developed an online CrowdTrading platform boasting an intuitive interface, a wide array of tradable assets, and robust trading tools. This platform is definitely worth exploring for traders of all levels.
However, if you prefer the widely acclaimed MT5, you can still use it, with the exception of Mini account holders, as this account type does not support MT5. In addition to manual or automated trading, Trade360 offers social trading through CopyTrader and CopyMaster accounts, accessible via the desktop platform. This means you can replicate the trades of successful traders and profit without extensive market knowledge.
Trading Instruments
Trade360’s technology solutions support CFD trading across various asset classes, including:
- Currency Pairs
- Commodities
- Stocks
- Indices
Minimum Deposit Requirement
The minimum deposit to open a Trade360 Mini account is $250. Other account types require specific deposit amounts, as listed on the broker’s website.
Conclusion
In conclusion, Trade360 is an appealing option for traders who prefer CFD instruments and want to engage in social trading through their proprietary platform or the popular MT5. However, it is worth noting that there have been negative reviews, particularly in dealings with the international organization. Therefore, we strongly advise traders to consider opening accounts only with regulated Trade360 entities in Cyprus and Australia or exploring other reliable brokers featured in our Forex broker rating. Trading can be a thrilling adventure, but it’s essential to choose a secure vessel for your journey. Happy trading!
