Trade360 Review

Trade360 is a slightly different online broker. Although the usual financial products can also be traded here, the provider, founded in 2013, has many innovations. With this broker, the traders not only rely on their analyzes but also on the “wisdom of the crowd,” a scientifically proven concept which states that while individuals can often be wrong, the crowd as a whole is very often correct. Therefore, in addition to the trading prices, Trade360 displays percentages from which you can quickly see how many traders buy at this currency pair and sell how many. The so-called “crowd” decisions play just as much a role in the search for profitable trades as the classic price analysis.

The broker is monitored and regulated by the Cypriot CySec and thus works according to the European Union’s strict MiFID criteria. The minimum deposit for the entry-level account is $ 100, and a free training version is also offered. The broker acts as an STP broker, which especially convinces the professionals because the customer’s order is always executed under the best market conditions, and a Trade360 fraud is extremely unlikely.

The spreads are somewhat slightly below the industry average, but a very attractive bonus program is offered.

ADVANTAGES AND DISADVANTAGES OF TRADE360 EVALUATION

• Minimum deposit $100
• Regulation by CySec
• 24-hour customer service
• STP broker
• Trading via MT4 possible
• Crowd trading as an innovative trading concept
• Top bonus program
• Support in English only
• No extensive training offer
• Spreads just about average

Conditions in trading: STP broker with no hidden fees

Many experienced traders consider it a significant advantage that Trade360 is an STP broker that forwards its clients’ orders directly to a large pool of participants, where they are executed within fractions of a second at the best possible market conditions. In contrast to the frequently criticized market makers, Trade360 does not set the prices themselves, but instead, they result solely from supply and demand. It means that there are no conflicts of interest between traders and brokers because the broker’s earnings are independent of the price. On the contrary: Since traders who make a profit usually trade more, Trade360 should have a genuine interest in its customers’ success.

At Trade360, the fees are charged exclusively via fixed spreads; there are no additional costs. Compared to other brokers, the Trade360 spreads are more in the middle. The less than optimal trading fees are offset by the bonus program, one of the best in the broker industry. Customers can receive cashback for active trading, and there is also a bonus for deposits. Although it is not quite optimal that the exact costs or profit margins are difficult to calculate through the combination of cashback, deposit bonuses, and spreads, it can still be said that trading at Trade360 is relatively cheap. The spread for EUR / USD is 1.8 pips. All spreads can be found in a clear table on the broker’s website. The spreads for the more exotic currency pairs are significantly higher than for the majors. In this regard, Trade360 is no different from other brokers.

The maximum leverage is 1: 400. It applies to almost all currency pairs. Only lower leverage is available for a few exotic species.

The offer of underlying: 47 currency pairs can be traded

Forex traders can choose from a total of 47 currency pairs at Trade360. Here you will find all the incredibly popular combinations and also some really exotic ones. For all currency pairs offered, the rates and the trading behavior of the other users can be seen in the trading software. The traders, therefore, know at all times which pair is being traded particularly intensely and whether the majority of traders are betting on a rising or falling price.

The basic value catalog of Trade360 includes not only the currency pairs but also numerous CFDs. These can be traded on conditions that are as good as the currencies.

Order functions of the trading platform: act quickly and precisely with one-click trading

The number and type of order functions available also play a significant role in inconvenient trading. The practical processes such as stop-loss orders, take-profit orders, and trailing stops ensure that the planned trading strategy can be implemented optimally and in part automatically. In this way, operating errors are largely avoided, and there is no stress when the optimal time for opening or closing a position has to be determined manually.

A variety of different order functions are available to customers at Trade360. Both the popular MetaTrader 4 and the web-based in-house platform can be used for trading. So-called “one-click trading” is possible on both trading platforms. With one click, traders can place their orders directly from the charts. It enables ideal timing.

Trade360 trading platform

The stop-loss function, in particular, is one of the most widely used order types at Trade360. Here, traders can determine the maximum amount of loss they can tolerate before the position is automatically closed. In this way, good risk management can be carried out, because the high leverage of 1: 400 enables particularly fast and high profits, but losses can also rise quickly if the price moves in the wrong direction. With the stop-loss function, these losses are limited, and the traders do not put their entire credit at risk.

The take-profit order is also very popular and helps not to overshoot the mark. The currency rates move in a constant up and down. Grade beginners tend to hold a position too long and thus miss the right time to exit. With the take profit order, the position is automatically closed if a profit has been determined in advance.

Regulation, deposit insurance, and risk limitation

Trade360 is based on the island of Cyprus. Since Cyprus is one of the European Union members, regulation is also carried out according to the strict EU guidelines. It offers particularly good protection for customers. As with all EU brokers, customers’ funds are managed separately from company assets and with reliable banks. It ensures that the company cannot misuse them and that they are used exclusively to finance trade. The deposits are secured by the Cypriot security fund, even in the event of Trade360 or the account-holding banks going bust, secure payment of funds to customers. The excellent regulatory environment and the strict regulations speak clearly in favor of the broker, whom the experts also trust.

Account opening and minimum deposit: Six account models from 100 USD

Trade360 offers a wide range of account models. Customers can choose from a total of 6 different account types so that the right account is offered for every trader. The mini account is intended for newcomers, as it offers access to forex trading for a small investment thanks to a low minimum deposit of only 100 USD. Advanced traders and professionals choose one of the higher account models, depending on the desired deposit amount and trading volume.

The deposit can be made through the usual payment service providers. In addition to bank transfers and various credit cards, you can also choose from e-wallets such as Neteller and Skrill. No fees are charged for deposits or withdrawals.

Additional bonus credit can be obtained with the first deposit. The broker also gives the new customers up to 40% of the amount deposited. In the end, there is significantly more usable credit on the trading account than the customer originally deposited. Existing customers also receive a bonus on deposits. However, at up to 20%, this is lower than the Trade360 new customer bonus.

By participating in the cashback program, customers secure additional credit credited to the trading account after specific trading goals have been met. It means that Trade360 customers regularly receive additional money, which, of course, ultimately increases their profit.

Customer service and website: competent service around the clock

Trade360 offers its users a 24-hour service on trading days. Only at the weekend does not only pause currency trading but also support.

The broker can be reached via live chat, email, phone, and Whatsapp. Unfortunately, the offer is limited to English-speaking customer service; German-speaking employees can only be found in exceptional cases. The support team members have a high level of competence, and our Trade360 test always seemed particularly committed and concerned about the well-being of the customers.

The broker’s website is very successful. In contrast to many international competitors, there are no translation errors on the website. It is well structured so that all the information you need is easy to find. The exact trading conditions for the individual currency pairs can also be looked up here in a table. The extensive FAQ area ensures that the most frequently asked questions are already answered on the German website, and it is no longer necessary to contact English-speaking support.

CONCLUSION

Conclusion in the Trade360 experience report: The young crowd trading broker can convince in many areas. The new and very promising concept of the “wisdom of the masses” makes Trade360 a special online broker. Other providers also do not offer the option of registering quickly and easily via Facebook.