Trade360 is an online broker since 2013 under the name of MPF Global Markets LTD. It’s in Limassol, Cyprus. Cyprus Securities and Exchange Commission (CySec) regulates it with the license number 202/13. MiFID regulation also covers it and ensures that it adheres to the standards of the Markets in Financial Instruments Directive.
Trade360 is famous for its innovative crowd trading platform. This platform works on research indicating group behavior patterns to reveal market trends before they appear as exchange rates or prices on the market.
For this reason, alone, this broker gives most people a sense of trust because this proprietary tool measures how the market sentiment changes in relation to other market indicators.
Features of Trading360
This broker has capitalized on the ideology that people as a collective make better decisions than individuals; however able one may think they are. This concept is known as the Wisdom of the Crowd, and they harness it by using the state of the art technology so that any trader can instantly see what a whole lot of other people think.
The Crowd Trading platform is proprietary, and its engineers develop it. It’s completely secure because it is 126 bit SSL encryption. This platform is entirely web-based. It requires no download hence gives you the freedom to trade from anywhere in the world using just your laptop, mobile or tablet. All you need is the internet connection.
Trader360 offers five account types, depending on the initial deposit. They include;
- Mini Account – This one provides a minimum deposit of $100 on a minimum line of $5,000. It allows you a live crowd trading feed and trading signals. It also has cash back rewards as well as 24/5 live chat and Whatsapp support.
- Standard360 Account – The minimum deposit is $1,000 on a minimum line of $10,000. Trading signals and live crowd trading feed to keep you on the update. It also offers cash back rewards, 24/5 live chat, and Whatsapp support.
- Gold Account – This one requires you to deposit a minimum amount of $5,000 on a $50,000 minimum line. Provides live crowd trading feed, trading signals, and cash back rewards as well. There is also live chat support 24-hour in five days a week and Whatsapp support. This account offers push and SMS notifications, exclusive market updates and SMS trading signals.
- Platinum Account – The minimum deposit is $10,000 on a minimum line of $100,000. Like the other accounts, live crowd trading, trading signals, cash back rewards, 24/5 live chat and Whatsapp support are available. Push and SMS notifications, Sms trading signals and exclusive market updates also come with this account. This account has the additional benefit of increased cash back.
- VIP Account – Minimum deposit of $50,000, a minimum line of $500,000. Just like Platinum, it also has the leverage of increased cash back. Also has live crowd trading feeds, trading signals, cash back rewards, 24/5 live chat and Whatsapp support. Push and SMS notifications, SMS trading signals, exclusive market updates as well.
For Islam, and Islamic account is available upon request with varying terms. All these accounts have a maximum leverage of 1:400 and spreads of 1.8 pips on EUR/USD.
In addition to the practice trading account, this broker offers to a beginner; it also provides money back on every trade made with initial $100 deposit. Keep in mind that the higher the initial deposit, the more cash back the broker will pay out.
Trade360 accepts deposits made with MasterCard, Visa, JCB, Maestro, DinnersClub and American Express. You can also use Skrill, Neteller to fund trading accounts and bank wire transfers. This broker has no fee on deposits.
Withdrawals take between three and ten businesses days depend on the withdrawal method you opt to use. You must first log into their account, then select the withdraw funds option from the menu in the upper right. You will then enter information the company requests.
For you to be able to withdraw, the broker requires a copy of a valid driver’s license; any government issued identification or passport. For security purposes, It has ensures most of the card information is absent except the name and last four digits of the card’s visible number. Some of its unique selling points are;
- Free market training and analysis
- Leverage and spread that varies depending on your choices
- Online platform with no complicated downloads
Trade360 offers some promotions. For instance, you can get up to $60 added to your account simply for entering the practice area. You can also get $50 just for adding your mobile number and $30 on all deposits you make in the first hours of the day up to a maximum of $1,000.
The broker provides a cash back rebate program up to $360. Some of the customer’s support services it offers are;
- General Market Analysis – This helps the trader understand the market with its leading technical and fundamental analysis.
- Technical Support – In a case of any technical issues, this offers assistance.
- Platform Walk-Through – This is a complimentary eBook guide full of explanation of how to work with the broker’s trading platform.
- Help in Opening and Closing Positions.
- Help with Deposit and Withdrawal Problems when deposits fail and withdrawals delay.
- Account support for any general issues regarding your account.
Pros and Cons of Using Trading360
- It offers a unique trading service: Crowd Trading
- It is well-regulated.
- Has no commission or withdrawal fees
- It has competitive fixed spreads.
- The leverage levels are high
- Available promotions are attractive
- The spreads are fixed.
- It doesn’t offer the option to multiple accounts
Seeing that it is a unique type of regulated broker, it has proven to be useful to many traders. I love that their proprietary online Crowd Trading platform is easy to use and based on popular opinion it uniquely offers traders potentially valuable and timely market information.
The lack of support for the MetaTrader trading platform makes the broker’s withdrawal process somewhat cumbersome. Still, if you have no time for poring over charts and analyzing figures, or wish not to do so – this could be the ideal broker for you.