Trade Review
Why Does Trade.com Suck In 50 Words
Unless you try to Login, you will not be able to get enough information about this broker, in order to make an informed decision. They do not offer a basic FAQ or information related to deposits and withdrawals, processing times, spreads, etc. It’s a bit lacklustre in this regard.
Why Trade.com Doesn’t Suck In 50 Words
Regulation and a well-established brand. This means your money will be safe and the broker will not interfere with your trading. Just remember that almost nothing is 100% safe but if a problem arises, you can ask for CySEC, FCA or FSCA assistance. The choice of platforms is also a plus, offering Meta Trader 4, and a WebTrader.
Is Trade.com A Scam?
Trade.com is not a scam. Trade Capital Markets Ltd is a well-known firm regulated in Cyprus since 2014 and their UK branch is authorized by the British FCA. Trade Capital Markets operates several brands, not just Trade.com and enjoys a rather positive online reputation. Contact information is provided in a transparent and easy to find manner and so far there are no major red flags.
Should I Open An Account With Trade.com?
Trade.com is a well-respected CFD broker, owned and operated by Trade Capital Markets (TCM) Ltd (previous name: Leadcapital Markets Ltd) and by Livemarkets Limited. Trade Capital Markets (TCM) Ltd is regulated by the Cyprus Securities and Exchange Commission, since 2014 under license number 227/14 and authorized in South Africa by the Financial Sector Conduct Authority (FSP number 47857). Livemarkets Limited is authorised by the British Financial Conduct Authority (FCA) under Reference number 738538.
This is a fully regulated CFD broker offering hundreds of assets to trade, including the now popular Cryptocurrencies. They have a web trader but you can also use Meta Trader 4, which means you can use all your favorite EAs.
The site has several subsections and some of them offer access to the live stock market, IPOs, DMA (direct market access), as well as asset management. All this on top of their CFD offering, which is huge, with an impressive asset list that includes all the major forex pairs, a few cryptocurrencies, and some commodities but by far, the largest offering they have is the stocks and ETFs.
Accounts start at $100 (Micro), which is a comfortable minimum deposit but from there the requirements are much higher: $1,000 for a Silver Account, $10,000 for a Gold Account, $50,000 for the Platinum Account and $100,000 for the Exclusive Account. One of the main advantages of a higher-tier account is the lower spread they offer but you also get other things like a dedicated account manager and premium daily analysis.
Banking is safe with this broker. In order to comply with CySEC, there are numerous regulations which include segregated funds and third-party oversight.
Other resources are market updates, an economic calendar, education center and technical analysis provided by Trading Central. Overall it’s a good offering from Trade.com but the accounts are a bit pricey (except for the Micro) and spreads are high if you have a low tier account.
The broker’s address is 148 Strovolos Avenue, 1st floor, CY 2048, Nicosia, Cyprus and they can be contacted at phone number +357 22 030 446 and email [email protected].
Trade.com Complaints
Trade.com doesn’t really get many complaints. The broker is clean, offers no incentives to trade, allows quick and easy withdrawals, and rarely ruffles any feathers. This is not to say there are no complaints, just not very many and the ones I have seen are not very alarming. Please note that ForexPeaceArmy recommends “extreme caution” when dealing with this broker; however, the overall user rating is 3.3 out of 5 stars.
Trade.com Regulatory Warnings
No warnings against Trade Capital Markets were found at this time. It is worth noting that Trade.com was previously owned by Safecap Investments Ltd, a company which was fined 168,000 EUR by CySEC back in 2015. See CySEC Board Decision here. However, no fines or warnings were issued since Trade.com became owned by Trade Capital Markets.
Trade.com Withdrawal
The methods are the usual (cards, wires, and e-wallets) but the time to process is not specified. The minimum amounts are low: $20 for all methods excluding wire transfers. Wires come with a minimum of $100. Withdrawing lower than this is possible but it will come with a costly fee: $10 for all methods excluding wires and $50 for wires.
Trade.com Extras
This broker offers a huge selection of assets and technical analysis from Trading Central, which is one of the better figures in the business. Other than this, the features are not over the top.
Trade.com Overall Ratings
User Friendliness 16/20
Meta Trader 4 is an excellent platform but it can get a bit hairy for new traders. That being said, the WebTrader is much more user-friendly but also comes with limited features. Regarding information, the website could use a friendlier layout but at least it’s translated in 7 languages. Demo accounts and mobile apps are available. US traders are not accepted.
Range Of Markets, Spreads And Leverage 15/20
They have a wide range of assets so they score good points here but their cryptocurrency offering is limited (Bitcoin, Bitcoin Cash, Dash, Ethereum, Litecoin and Ripple. Spreads are very high for the Micro account (3 pips form EUR/USD) but get lower if you open a higher-tier account. Leverage goes up to 1:30 for currencies, lower for the other asset types and the lowest for crypto (1:2).
Fees And Support 14/20
There are no fees to open an account (which is normal for most brokers) but counting the spreads as a fee, I can say they are pretty steep (remember that a 3 pip spread for EUR/USD is very wide). The broker charges a monthly inactivity fee of $25 for accounts with no trading activity for 90 days or more. Support is present and it is not pushy and doesn’t want to trade your money for you.
Deposits And Withdrawals 15/20
Deposits and withdrawals can be made via the usual methods: credit cards, wire transfers and a few e-wallets including Skrill and Neteller. The minimum withdrawal is $20 for cards and e-wallets while wire transfers come with a minimum of $100. Any amounts below the ones specified will come with an extra fee of $50 for wire transfers and $10 for the other methods.
Website Extra’s 14/20
Nothing is extra really, we’ve seen all this before, but this one is in a nice, regulated package and they have tons of assets to trade, plus a good platform offering (MT4 and MT5).