Trade.com Review 2024
Website: www.trade.com
Min. Deposit: US$ 100
Leverage: 1:30 | 1:300
Trading Platforms: Trade.com WebTrader, MT4, MT5
Regulation: FCA, CySEC, FSCA, FSCM
Headquarters: Cyprus
Founded: 2013
Regulatory Licenses:
- Trade Capital Markets (TCM) Ltd - authorized by CySEC (Cyprus) registration no. 227/14
- Trade Capital Markets (TCM) Ltd - authorized by FSCA (South Africa) registration FSP No. 47857
- Trade Capital UK (TCUK) Ltd - authorized by FCA (UK) registration no. 738538
- Lead Capital Global Ltd - authorized by the FSC (Mauritius) license no. C119023948
Updated on January 24, 2024
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In our meticulous approach to evaluating forex brokers, we compare a wide range of important factors. Our review process involves assessing each broker against stringent criteria, including regulatory compliance, trading platforms, tools, customer service, fees, spreads, execution speed, and the diversity of instruments available for trading. This comprehensive analysis is derived from our extensive research, which encompasses a detailed examination of over 1000 brokers, ensuring our recommendations are well-founded and reliable.
Trade.com stands out as a prominent and sizeable forex broker, offering traders the opportunity to engage in forex and CFD trading across a broad array of instruments. The broker boasts a robust technology infrastructure, featuring a proprietary platform that facilitates secure access to over 2,100 trading products available through WebTrader. Trade.com operates under the trading name of Leadcapital Markets Ltd, a Cyprus-based company regulated by the Cyprus Securities and Exchange Commission. This regulatory oversight extends to additional jurisdictions, ensuring a regulated trading environment for international traders.
Pros
Trade.com has built a reputable presence in the forex brokerage industry, underscored by its security, legitimacy, and licensure from toptier authorities, including the FCA.
The account setup process is streamlined, providing good conditions for both novice and professional traders.
The broker is characterized by low commission fees and costs, alongside a diverse array of trading instruments.
Cons
Trade.com's offering varies depending on the jurisdiction, which may limit uniformity across its global operations.
The absence of 24/7 support and comprehensive educational materials for beginners are notable drawbacks.
Is Trade.com Safe or a Scam? ▲
Trade.com is far from being a scam. Our extensive research concludes that the broker operates with high trust levels and offers a low-risk trading environment. It is duly regulated and licensed by several prestigious financial authorities, including the FCA, ensuring a secure platform for traders.
Leverage trading offers the opportunity to manage larger positions than one's initial balance, potentially amplifying gains. However, it's imperative to understand the risks associated with leverage, as it can also magnify losses. Trade.com adheres to the regulatory limits set by the European ESMA and CySEC, which have notably reduced maximum leverage to 1:30 for major currency pairs, 1:20 for minor pairs, 1:10 for commodities, and 1:2 for cryptocurrencies. Traders with Trade.com's South African entity can access higher leverage ratios of up to 1:200 or 1:300 for forex instruments, reflecting the regulatory standards of the region.
Account Types
In our comprehensive review, we discovered that Trade.com provides four distinct CFD account types, tailored to cater to the diverse needs and preferences of traders. Each account benefits from daily analytical updates from the company, offering choices between desktop and mobile trading platforms. Additionally, subscribers gain access to a wide array of products and assets such as Forex, CFDs, Commodities, Bonds, Indices, and Stocks.
How to Open Trade.com Live Account?
Opening an account with Trade.com is straightforward. Prospective traders should follow these steps:
Navigate to the "Open Account" page and click on it
Fill in the required personal information (Name, email, phone number, etc.)
Upload documents to verify your personal information (proof of residence, ID, etc.)
Complete an electronic quiz to confirm your trading experience
Once your account is activated and verified, proceed with depositing funds.
Trade.com Fees
Our extensive research indicates that Trade.com's trading costs are determined by the type of instrument you trade. For instance, CFDs trading and Futures or IPOs have different pricing models; the former's costs are primarily incorporated into the spread, while the latter are subject to a commission per trade. It's also important to consider additional costs such as inactivity and funding fees to understand the full pricing structure. Trade.com's fees are competitively low, with an overall score of 8.5 out of 5, according to our analysis and comparison with over 1000 other brokers.
Our analysis reveals that Trade.com offers some of the most competitive and favorable trading conditions, with all costs integrated into a tight spread when trading CFDs. Specifically, the average spread for EUR/USD is 1 pip, which is advantageous as it requires the market price to move less from your entry point for a trade to become profitable. Additionally, more favorable conditions are provided as your trading volume increases, which is beneficial for seasoned traders. Trade.com's spreads have a low overall rating of 4.5 out of 5, based on our comparisons with other brokers, offering much lower Forex spreads than the industry average and attractive spreads for other instruments as well.
Trade.com offers a broad range of products including Forex, Crypto, CFDs, Commodities, Bonds, Indices, and Futures markets, supporting one-click executions, stop and limit orders, and customized tools. Cryptocurrency trading is available for Bitcoin, Dash, Ethereum, and Litecoin with a leverage of 1:2 and a spread of 50.00 USD on BCHUSD. Our findings indicate that Trade.com only charges a spread on top of the price for trades, maintaining competitive market offerings. The selection of trading instruments at Trade.com receives a score of 4.5 out of 5 for its extensive range among Forex, Futures, Indices, Cryptos, and more.
Upon reviewing Trade.com, we discovered that the broker provides multiple secure and straightforward options for depositing or withdrawing funds. These methods are tailored to suit various jurisdictional rules and regulatory requirements, ensuring a flexible funding process for traders worldwide. Trade.com's approach to funding methods received a favorable assessment, attaining a score of 4.3 out of 5. The broker's minimum deposit requirement is competitive within the industry, with most charges being minimal or non-existent, and supports a wide range of account-based currencies, though available options may differ across entities.
Pros
Offers a variety of payment methods including Credit/Debit cards, Bank Wire, Skrill, and Neteller
No deposit or withdrawal fees
Cons
Deposit options and conditions may vary based on jurisdiction
Trade.com's minimum deposit stands at $100, which is lower compared to the $500 often required by other brokers, making it more accessible for traders starting out. Withdrawal conditions are equally competitive, with a minimum withdrawal amount set at $20 for most methods, except for wire transfer which is $100. Notably, Trade.com covers all deposit and withdrawal fees, enhancing the overall cost-effectiveness of trading with them.
The withdrawal process is straightforward and involves the following steps:
1. Log into your account.
2. Select 'Withdraw Funds' from the menu.
3. Enter the withdrawal amount.
4. Choose your preferred withdrawal method.
5. Complete the electronic request form as required.
6. Review and submit the withdrawal information.
7. Monitor the status of your withdrawal through your Dashboard.
Trade.com impresses with its selection of trading platforms, including the highly acclaimed MetaTrader 4 and MetaTrader 5, as well as its proprietary CFD WebTrader platform. With over 2,100 instruments accessible across desktop, tablet, and mobile interfaces without the need for downloads, Trade.com's platform offerings are comprehensive. The broker's platform efficiency and range have earned it an outstanding rating of 4.5 out of 5, a testament to its superior industry standing. The inclusion of both MT4 and MT5 platforms caters well to the needs of professional traders, supported by robust research and excellent trading tools.
The Trade.com WebTrader platform, exclusive to its clients, is recognized for its user-friendly interface and innovative features. It provides a multi-chart display, independent function capabilities, and a suite of trading tools including intelligent analysis, Trading Central, events and trade tool, and secure management options.
Furthermore, Trade.com offers Direct Market Access (DMA) trading through a unique partnership with leading DMA provider Interactive Brokers. This opportunity is especially beneficial for active and professional traders seeking advanced capabilities and a wide selection of stocks available for trading via the Thematic Online platform. The desktop version of the platform extends full trading functionalities, from customization options to specific trading engagement tools.
Our evaluation found that Trade.com delivers commendable customer support, available 24/5 and facilitated through a variety of channels including local international lines, live chat, WhatsApp, and email. With a score of 4.3 out of 5, the broker's support services are marked by prompt and informative responses, making it easy for traders to obtain assistance during working hours.
Although Trade.com does not boast an extensive education center as some competitors do, it compensates with superior research tools and essential educational materials. The broker leverages the strengths of its trading platforms, offering features such as an economic calendar, intelligent analysis, and access to Trading Central. This approach to education and research has earned Trade.com a high rating of 4.4 out of 5, highlighting the quality and utility of its educational offerings.
Concluding our review of Trade.com, it's evident that the broker caters to a wide spectrum of traders' needs through its attentive customer support, competitive trading conditions, and diverse platform options. While it may not offer a broad educational library, its advanced research tools and analytical resources significantly enhance its value proposition. Trade.com is particularly suitable for:
Advanced traders
Users of MT4 and MT5 platforms
Those interested in currency and CFD trading
Traders employing a variety of strategies
In summary, Trade.com's comprehensive offerings, coupled with competitive conditions and excellent support, make it a commendable choice for both novice and experienced traders alike.
