Trade.com is a multi-asset brokerage that has garnered attention for its extensive range of trading instruments and robust regulatory framework. The platform is generally well-regarded, particularly for its user-friendly interfaces and competitive trading conditions. However, some users have expressed concerns regarding customer support and the varying conditions across different regulatory jurisdictions.
Note: It is essential to consider that Trade.com operates under various entities across different regions, which may lead to discrepancies in trading conditions and user experiences. This review aims to provide a fair and accurate assessment based on multiple sources.
Ratings Overview
We evaluate brokers based on a comprehensive analysis of user feedback, expert opinions, and factual data across several key areas.
Broker Overview
Founded in 2009, Trade.com is a trading name operated by Lead Capital Markets Ltd, based in Cyprus. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) and also holds licenses from the Financial Conduct Authority (FCA) in the UK and the Financial Sector Conduct Authority (FSCA) in South Africa. Trade.com offers a variety of trading platforms, including the proprietary WebTrader and the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5). With over 2,100 tradable instruments across multiple asset classes, including forex, commodities, indices, stocks, and cryptocurrencies, Trade.com aims to cater to a diverse trading audience.
Detailed Review
Regulated Geographic Areas
Trade.com is regulated in multiple jurisdictions, including Cyprus (CySEC), the UK (FCA), and South Africa (FSCA). This multi-regulatory approach enhances the broker's credibility and provides traders with a level of security regarding their funds.
Deposit/Withdrawal Currencies/Cryptocurrencies
The broker accepts deposits in various currencies, including USD, EUR, and GBP. While Trade.com does not charge fees for deposits or withdrawals, third-party fees may apply depending on the payment method used. The minimum withdrawal amount is typically set at $20, except for bank wire transfers, which require a minimum of $100.
Minimum Deposit
The minimum deposit to open an account with Trade.com is $100, making it accessible for new traders. This low entry point is advantageous compared to many competitors that require higher initial investments.
Trade.com does not currently offer any bonuses or promotions, focusing instead on providing a transparent trading environment. This aligns with the regulatory standards set by authorities like the FCA, which restricts bonus offerings.
Tradable Asset Classes
Trade.com offers a broad range of assets to trade, including:
- Forex: Over 55 currency pairs, including major, minor, and exotic pairs.
- Cryptocurrencies: Trading is available for popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, with leverage up to 1:2.
- Commodities: Traders can access a variety of commodities, including gold, silver, and oil.
- Indices and Stocks: The platform provides access to more than 2,000 stocks and 26 global indices.
- ETFs: A selection of over 100 exchange-traded funds is available.
Costs (Spreads, Fees, Commissions)
Trade.com operates with competitive spreads, with the average spread for EUR/USD around 1 pip. However, the broker's costs can be relatively high for certain account types. For instance, the inactivity fee is $25 after 90 days of inactivity, and overnight fees apply to positions held overnight. The broker also charges a currency conversion fee when account currencies differ from the underlying asset's currency.
Leverage
Leverage at Trade.com varies based on the regulatory entity. For example, retail clients under CySEC regulations are limited to a maximum leverage of 1:30 for major currency pairs, while clients in South Africa may enjoy higher leverage ratios of up to 1:300.
Trade.com supports multiple trading platforms, including its proprietary WebTrader and the popular MT4 and MT5. The WebTrader platform is designed for ease of use and is accessible from any device without the need for downloads. MT4 and MT5 are favored by more experienced traders for their advanced features and functionalities.
Restricted Regions
Trade.com does not accept clients from several jurisdictions, including the United States, Canada, Japan, and various other countries due to regulatory restrictions.
Customer Support Languages
Customer support is available in multiple languages, including English, Spanish, German, and more. The support team operates 24/5, providing assistance via live chat, email, and phone.
Repeating Ratings Overview
Detailed Breakdown
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Account Conditions: The minimum deposit is competitive at $100, but account offerings vary based on the regulatory entity, which may confuse traders.
Tools and Resources: The platform provides various analytical tools and resources, including Trading Central, but lacks comprehensive educational materials for beginners.
Customer Service and Support: While customer service is generally responsive, the lack of 24/7 support can be a drawback for traders in different time zones.
Trading Setup (or Experience): The trading experience is generally positive, with competitive spreads and a wide range of tradable assets.
Trustworthiness: Trade.com is regulated by reputable authorities, providing a high level of trust and security for traders.
User Experience: The user interface is intuitive, but some users have reported issues with customer service and the clarity of account types.
In summary, Trade.com presents a solid option for both new and experienced traders, offering a diverse range of assets and a secure trading environment. However, potential users should be aware of the varying conditions across different regulatory jurisdictions and the broker's customer support limitations.
