Updated on January 15, 2024
Quick Links
In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding TD365 due to the issues we've identified.
Is TD365 Scam or Legit Broker? ▲
Unfortunately, TD365 cannot be considered a fully secure brokerage choice due to its lack of a reliable license from an esteemed regulatory body. The firm is regulated only by the Securities Commission of The Bahamas under the license SIA-F216, which does not provide the level of trust and security offered by top-tier licenses from the FCA in the UK, ASIC in Australia, or CySEC in Cyprus.
Our investigation reveals that TD365 collaborates with Trade Nation through the Bahamian entity. Although Trade Nation is a well-regarded brokerage holding several high-grade licenses and boasting a strong market reputation, this association is not enough to mitigate the risks associated with TD365's offshore regulation.
The importance of regulatory oversight cannot be overstated as it ensures broker compliance with stringent industry norms and financial practices, safeguarding your investments.
TD365 proffers an array of trading opportunities via its website, highlighting the ability to trade popular markets with low spreads on its proprietary CloudTrade platform. The broker promises negative balance protection, high leverage up to 200:1, a single currency trading account, among other perks.
However, a closer examination reveals critical factors warranting caution before engaging with this broker. Notably, TD365's license from the Securities Commission of The Bahamas categorizes it as an offshore broker, albeit with some level of cooperation with regulated broker Trade Nation under the same entity, somewhat bolstering its reputation.
Despite some seemingly favorable offerings, TD365's lack of comprehensive educational materials necessitates that traders seek knowledge elsewhere. The broker's sole support mechanisms are a demo account and a platform tutorial video.
Authentic client feedback is invaluable in evaluating a broker. Our findings show mixed reviews for TD365, with a tilt towards positive feedback. Nonetheless, the risks associated with unregulated or offshore brokers cannot be ignored, especially with numerous tightly regulated alternatives available.
With over a decade of expertise in the Forex industry, our analysis has unearthed significant concerns about TD365's dedication to regulatory compliance and overall reliability. Thus, TD365 receives a low overall ranking of 1.5 out of 5 in our evaluation, significantly trailing behind other brokers in the industry.
Funding your TD365 account is designed to be a simple process, requiring traders to log in, access the Payments section, and select "Deposit Funds." Available deposit methods include bank transfers, credit cards, and debit cards, with no minimum deposit requirement. This flexibility allows traders to invest an amount they are comfortable with.
However, caution is advised with offshore brokers like TD365, as withdrawal challenges are common and may lead to significant financial losses.
TD365's CloudTrade Platform is touted for offering fixed bid-ask spreads, some of the lowest in the industry, and ensuring instant execution. Traders can choose their stake size in either their local currency or the selected base currency. Additionally, TD365 provides access to the renowned MT4 platform, known for its tight, variable spreads, catering to a wide range of trading preferences.
After thorough investigation and analysis, concerns about TD365’s reliability and the inherent risks of its offshore registration cannot be overlooked. Despite its attractive features, the risks associated with its lack of robust regulation make it an unadvisable choice for traders seeking security and peace of mind.
We strongly advise opting for brokers regulated by respected authorities such as the FCA, ASIC, or CySEC.
Our overall experience and rating for TD365 is decidedly negative, emphasizing the importance of choosing a broker with strong regulatory backing and a transparent operational framework.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
TD365 Review 2024
