Find the best trading platform. You capital is at risk when trading. Be careful.
In this Trade.com review, we are taking a closer look at the UK and EU based broker.
Trade.com is a CFD and forex broker that offers access to most of the world’s markets including cryptocurrencies.
With more than 2000 underlying assets they have a selection of trading possibilities that few brokers can compete with. Combine that with some of the world’s leading trading platforms and you have an excellent broker for every situation. In fact, Trade.com is a great choice if you are looking for a broker that offers many assets.
This broker is also fully licensed and regulated by the Cyprus Securities and Exchange Commission which means that they are completely safe to use. However, they are not permitted to offer their services in Japan, Canada, or the United States.
In this Trade.com Review we are going to take a closer look at the broker.Create an account at Trade.com
Trade.com scam? Is Trade safe?
We would never recommend a broker or any other trading services and tools if we weren’t completely confident that you could trust them. Trade.com has gone through all the necessary procedures to ensure that they offer a safe product and that they are regulated by trustworthy authorities.
The broker is owned and operated by LeadCapital Markets Ltd who has a license from CySEC. This means that Trade.com is fully authorized to offer trading and investment services in most of Europe and the rest of the world.
In other words, Trade.com is not a scam nor is it a shady operator but rather one of the few really good CFD and forex brokers on the market. We ourselves have used their services and could not be happier with the experience.
Trust us when we say that you can open an account with Trade.com today without ever having to worry about your funds or personal information.
5 things you need to know about Trade.com
Before we get started with our markets.com review we thought it would be interesting to list 5 quite unknown facts about trade.com.
- Trade.com has a huge selection of tradable assets, in fact, they offer over 2100 assets, and that’s almost as many as Plus500. The assets offered includes Stocks, Indices, Forex, Cryptocurrencies, Commodities, Bonds, and ETFs.
- If you are new to trading you might wanna be interested in opening a completely free demo account with trade.com. They offer an excellent trading account.
- You can go mobile since Trade.com offers one of the best apps in the world for trading, you can buy and sell any assets listed on the trading platform from the app.
- Trade.com is very safe to trade with. First of all, they are regulated by CySEC and secondly, they have a really good reputation on the market. If you read around on forums you will find many other brokers being in the spotlight all the time over delayed withdrawals and scams but Trade.com is doing a great job offering fair service.
- One of the trading platforms offered is a white label of the massive CFD broker Markets.com, meaning, they offer the same quality platform as Markets.com.
Trade.com Trading Platforms
In an attempt to stay at the forefront of brokers on the market, Trade.com has chosen to collaborate with some of the best and most well-known trading platforms on the market.
The MetaTrader 4 is the best forex trading platform in the world, but when it comes to CFD trading, it is very limited. Because of that, Trade.com also offers traders the opportunity to use the MetaTrader 5. With the MT5 you can invest in stocks, ETFs, and more from the United States and Europe with confidence. The platform comes with state of the art analytic abilities, great execution, and everything else you would expect from an industry-leading broker like Trade.com.
Trade.com offers access to another web trader for anyone who wants to trade. It is called Sirix Webtrader and is available for Android and iOS devices through the browser. This means that there is no need to download any apps. Instead, you can access all the tools through the secure HTML5 website.
Sirix WebTrader is a great option if you need to trade on the go and we really enjoy using it on all of our mobile devices.
Trade.com demo account & real account
You have several options when it comes to choosing what account to use with Trade.com. Firstly, they offer one regular trading account and one Trade.com demo account, but they also offer two exclusive premium versions of the regular account.
Trade.com Demo Account
We can’t emphasize enough how important it is to consider using a demo account in your everyday trading regardless of your level of skill and previous experience. Even though demo accounts were originally designed to help beginners gain some necessary knowledge before diving head first into real trading, there are many benefits for us all to make use of.
In the case of Trade.com, you can sign up for a demo account and use MetaQuotes’ renowned trading platforms. That means you can start trading on MetaTrader 4 and the WebTrader with zero risks.
The best part is that it’s easy to open a Trade.com demo account. All you have to do is provide your email address, pick a password, and sign up. If you end up liking the platforms and you feel like Trade.com is the right broker for you, the process of opening a real account from your Trade.com demo account is easy.
Moreover, you can also decide to start with a real trading account and go through the registration process (see below) first because with a real trading account you get automatic access to Trade.com’s demo account. We only recommend this to people that are convinced that Trade.com is right for them and that are ready to start trading right away.
Risks of Trade.com’s Demo Account
Before you go ahead and open a demo account, we want to inform you about a potential risk. Generally speaking, demo accounts are risk-free especially since you can’t lose any real money. However, since there is no real risk, there is a chance that you might start to trade irresponsibly and make a decision that wouldn’t be optimal when trading with real money. And the risk is that you adopt an irresponsible trading mentality and apply it to your real trading.
What we’re trying to say is that you need to be careful when switching from your Trade.com demo account to your regular account, especially after extended periods of demo trading.
Now let us take a closer look at how you can get started trading with Trade.com.
Trade.com Trading Assets
As mentioned, Trade.com has a massive selection of assets with over 2,100 instruments to choose from. This is not the largest selection that we have seen, but it’s definitely large enough to satisfy most people. And in our opinion, more options than this usually only end up being overwhelming.
The 2,000+ tradable assets are divided into 8 asset classes covering all of the most popular markets in the world including cryptocurrencies, stocks, and exchange-traded funds. This ensures that there is always something for you to invest in regardless of mood, previous experience, and investment goals.
- Forex – One of Trade.com’s main focuses is forex trading. Currently, they offer 55 currency pairs, no commission trading, leverage up to 1:300, as well as some of the tightest spreads in the industry.
- Cryptocurrencies – Cryptocurrencies are a sub-category of Trade.com’s selection of forex trading. You can trade Bitcoin, Ethereum, Litecoin and Dash with USD on Trade.com’s platform.
- CFD – CFD is short for Contract for Difference, and it is a speculative form of trading that gives you access to many markets. Below you’ll find a list of all the markets you can trade CFDs on with Trade.com.
- Commodities – Trade.com offers 19 commodities such as gold, silver, aluminum, Brent oil, natural gas. It’s a great selection and something we highly recommend that you try.
- Bonds – You can trade several different bonds with Trade.com such as the yen, euro, and dollar bonds.
- Indices – Trade.com covers 26 of the world’s leading indices, meaning you can buy CFDs on The Dow Jones, S&P 500, and many more.
- Stocks – As with most CFD brokers, stocks are the biggest part of Trade.com’s selection. You can choose to speculate on the value of more than 2,000 different companies from all over the world.
- ETFs – You can also use Trade.com to invest in 2,000 assets spread over 37 different ETFs, or exchange-traded funds.
Trade.com License and Regulation
We have already mentioned that Trade.com is a fully licensed and regulated broker. Here you can find more information about that license.
LeadCapital Markets, the company that operates Trade.com, has a license from Cyprus Securities and Exchange Commission with number 227/14. This means that they are required to follow very strict guidelines and that you as a customer are protected if anything would happen.
Having a license is necessary to be considered a trustworthy company and Trade.com has managed to attain one from one of the strictest authorities in the industry.
Now let us take a closer look at how you can get started trading with Trade.com.
Open and Verify Your Account
Follow any Trade.com link on this page to get redirected to the page where you can start your registration. Then proceed with following the steps that we have outlined below.
The first step of the registration process is to provide Trade.com with the information they need to start your account. This includes your name, email address, physical address, phone number, etc. All of this information will be verified at a later time so it needs to be correct.
If you’ve ever signed up for anything else online, you’re already familiar with this process.
The next step is to answer a set of questions related to trading and the financial world. This is done for two reasons. First and foremost there are regulations about the minimum knowledge a trader is required to have in order to open an account. It is also done in order for Trade.com to evaluate your knowledge to determine if you need any restrictions that will help minimize your risk. For example, they can limit the amount of leverage that you have access to or direct you to their educational material for beginners. This process is something all brokers do and not something you can avoid.
After these two steps, your account is officially open, and you can actually go ahead and deposit money and start trading. However, before you can withdraw any of your earnings, you need to verify your identity. The verification process is usually easy, but sometimes it can take longer than expected. Because of this, we advise you to verify your account as soon as you can to avoid being unable to withdraw because of verification issues.
To verify your identity and open your account fully, Trade.com will ask for two documents.
- You need to provide the broker with a copy of your ID. This can be your passport, your national ID, or a driver’s license. The copy needs to be in color and all of the information on the ID needs to be clearly visible.
- You also need to provide a recent utility bill with your address on. For example, an electric or mobile bill that is no older than three months. In case you don’t have a recent utility bill, a bank statement will do.
After these documents have been submitted, Trade.com will evaluate them and verify you as soon as they can. Trade.com can also ask for more information to be submitted if they think it’s needed.
Don’t forget that Trade.com does have the final say and they can deny you access to the platform, although that is highly unlikely as long as you meet their requirements.
Trade.com Payment Methods
Trade.com offers a good selection of payment methods and something that fits everyone. Be aware that some of the options might be limited to certain areas so you will have to double check what is available in your specific country before you deposit funds.
The following payment methods can be used to fund your Trade.com trading account:
- Credit and debit cards – Mastercard, Visa, Visa Electron, JCB, etc.
- Skrill – An online payment service available to most.
- Neteller – Just like Skrill, this is an online payment method for traders from most countries.
- WebMoney – Another payment option that most traders can use.
- Qiwi – An online Russian payment method.
Since Trade.com is a regulated broker, the payment methods are regulated and approved by the CySEC. That means that Trade.com can’t offer whichever payment method they see fit but instead they have to follow well-established guidelines.
Moreover, this ensures that you won’t be ripped off and that your money will be safe and protected even during transactions. This means you can always feel safe when using Trade.com especially when you fund your account or withdraw any potential earnings from your trading account.
Trade.com Customer Support
Trade.com’s customer service is as good as it gets. They can be contacted by email, phone, live chat, and regular mail, and they are available in several different languages.
There are currently 26 local phone numbers that you can call to talk to a local specialist but the main phone number for Trade.com is +44 20 3769 6848.
You can also email them at [email protected] or send a letter to their headquarters in Cyprus. However, the easiest way to reach Trade.com is through the live chat offered on their website.
Having a great customer service is one of many requirements that we think that every broker needs to excel at. Mostly because there will always be a time when traders need help and support, but also because it adds to a broker’s transparency.
To make sure that every broker we recommend has a good enough customer service we contact them through a few different channels and Trade.com did really well. Every time we contacted them through chat and email, they responded quickly and gave us detailed answers.
Fees, Spread, and Commission
We spent the time analyzing Trade.com’s fees and charges so that you will know what to expect before you start trading, otherwise the risk is that you start racking up unnecessary fees pretty quickly.
What does it cost to trade with Trade.com? Let us take a closer look.
Spread is the most common way for brokers to charge traders for each position they open. In fact, there is no broker that doesn’t charge spread so you can’t avoid it, although there is a big difference in how much spread different brokers charge.
Unfortunately, Trade.com does not have the most competitive spreads, and for certain popular assets, their spread is many times higher than the industry average. For example, Trade.com’s spread for USD/EUR is as high as 3.0 pips, which is much higher than the average of 0.8 pips. Because of this, we encourage you to be careful and study the spread for each position you want to open – before you open it.
Note that certain assets have better terms and a lot lower spread and remember that spreads are dynamic and constantly changing.
Trade.com is completely free of commission which helps even out the not so competitive spreads. Most of the leading brokers are commission-free, so we’re not really surprised to see that Trade.com is as well.
In addition to spreads, Trade.com charges a collection of other fees. For example, there is an overnight charge for positions that are kept open after the market closes. Also, there are some fees charged for withdrawals using certain payment options.
All of these extra fees are pretty standard in the industry, and we have to give Trade.com props for being so open about them. Every fee is clearly disclosed on Trade.com’s website.
Trading with Trade.com
It’s probably quite obvious that we like Trade.com and that we think they are a good broker, and we really do. However, if there is one thing that we’re not very impressed with it is the user experience.
Don’t get us wrong, Trade.com is very easy to use and the user experience is actually very streamlined. What we don’t like is that it feels like it’s missing something, there is a lack of wow factor that many other brokers offer.
For some people this is perfect, and as mentioned, there is nothing wrong with the experience. It’s just that we expect a little bit more and potentially something unique from a broker of this caliber.
Using Trade.com on a Computer
Everyone who prefers trading on a desktop computer or a laptop can use Trade.com in a couple of different ways. You can choose to use either the MetaTrader 4 (forex) or the WebTrader (CFD) depending on whether you want to trade forex or CFDs. The MT4 is mostly for forex trading while the WebTrader gives you access to over 2,100 assets.
Using the desktop version of the MetaTrader 4 is always a pleasure, and there are really no doubts about why it is considered to be the best forex trading platform in the world. The WebTrader is also extremely well-designed and exciting to use. It runs very smoothly to be a web-based software, and it’s quite incredible that you get access to so many assets online.
In terms of available tools, execution, and analytic opportunities, both platforms are state of the art, but as mentioned, we do feel that there is something lacking.
In addition, you can use the MetaTrader 5 platform to trade live stocks, ETF’s, and other securities from the United States and Europe. The MT5 was recently added to Trade.com, and it is only available to certain accounts, but if you’re into stock trading this is the platform for you.
Using the Trade.com App on a Mobile Device
Today Trade.com has a great mobile trading solution. The Trade.com app is called the Sirix WebTrader, and it’s a very popular web-based mobile trading app. It’s well-known for its functionality and ease of use, and we love that it’s available directly through your browser. Even though the app is technically web-based, it does require a download from either Google or Apple’s app stores.
Our experience with the Trade.com app has been nothing but good, although we did notice that there has been an increase in bad reviews lately. We are not sure if the increase is because Trade.com has seen an overall increase in new users or if something happened to the app.
Trade.com Leverage and Margin
All forex and CFD broker provide leverage and margin to their traders and Trade.com is no exception. If you don’t know what leverage is, we suggest you check our guide on it because trading with leverage without knowing the risks is not only irresponsible but also highly risky.
In the spring of 2018, the European Securities and Market Authority decided to update the regulations regarding leverage in Europe and from August 1, 2018 leverage has been limited for all traders in the European Union. This means that Trade.com is offering the exact same leverage as all other broker operating in Europe.
We have covered these changes extensively and have listed all the leverage limits for your convenience.
Trading with leverage is fun and it provides the possibility of maximizing one’s profits, but it also comes with increased risk so we advise you to be careful.
In our opinion, no detailed broker review is complete without the input of users themselves. Since our Trade.com review is written for traders looking for a broker we have listened carefully to what traders are asking and wondering about. What are the questions that novice traders ask about brokers they are considering using?
We spent quite some time collecting the most commonly asked questions about Trade.com and other brokers and then we provided answers to those questions to further help you with your decision.
This Trade.com FAQ covers regulations, demo accounts, deposits, fees, and so much more in order to provide you with all of the answers to your questions. If you have a question that we haven’t answered we encourage you to leave a comment with it below and we’ll answer it as soon as we can.
Remember that the following questions are answered by industry professionals with extensive experience trading CFDs and forex. And in the cases where answers aren’t clear, we have turned directly to Trade.com for a better explanation.
Trade.com is owned and operated by Lead Capital Market Ltd. which is a Cyprus Investment Firm (CIF) that is regulated, authorized and licensed by the Cyprus Securities and Exchange Commission (CySEC).
Any broker licensed by CySEC operates under regulations outlined by the European Securities and Market Authority (ESMA) which is a part of the EU’s official trading authority. ESMA and CySEC aim to protect and support traders and always put your interest before the interest of the broker.
CFD trading platform. Finally, Trade.com has a long reputation for being one of the most trustable brokers in the world.
For more information about Trade.com’s fees, we suggest you check the review above or visit Trade.com directly.
However, the most compelling reason why Trade.com is safe is the fact that they are licensed and registered by CySEC – the most respectable licensing firm for forex brokers in Europe. Without this license, we would never recommend Trade.com.
The first step requires you to provide information about yourself such as name, address, email, phone number, etc. This information will later be used to verify your identity so make sure it’s all correct. You will also have to answer questions regarding your financial experience and knowledge about leveraged trading, the risks associated with CFD and forex trading, and so forth. This is done in order for Trade.com to evaluate your skills and whether or not they need to limit your account to protect you from unnecessary risk.
After that, your account is ready and you can deposit money and start trading but you will need to verify your identity before you can withdraw any money. See more below.
verify your address. If you don’t have a utility bill, a bank statement with your name and address on it is sufficient. After that, it is up to Trade.com to study the information and verify you. Note that Trade.com can ask for you to provide additional information if they think it’s needed. They also have the right to deny you.
In certain cases, the verification process can take a few hours or even days which is why we advise you to verify your identity as soon as you can after you’ve signed up. Otherwise, you run the risk of having to wait to withdraw your earnings.
Always be careful when trading CFDs and make sure you know what you are getting yourself into before you start. The best way to learn more about CFD trading with Trade.com is to study our guides and tips.
We provide extensive and informative guides to forex trading that we suggest you take a look at.
Download the Trade.com app from the two app stores.
Note that in 2018, ESMA introduced rules limiting the amount of leverage that brokers are allowed to offer
We have covered all of the fees in the review above and suggest you check it out for more information.
There are three things that we would like to comment on and that we hope Trade.com will improve.
- The spreads on some of the largest currency pairs are way too high, both compared to their competitors and compared to the average prices. For several currency pairs, the spread is more than 3 times the average, which is really unusual to see. Unfortunately, when it comes to spread, Trade.com can’t compete at all with the other brokers on this level.
- The overall user experience that Trade.com provides is better than good, but it’s lacking something. Except for the decently varied selection of assets, this broker lacks an edge that would separate them from the rest of the brokers. There is no cool or unique tool or a feature that is really attractive.
- While doing research for this review, we found it quite difficult to find specific information about the broker. Today, most brokers have extensive FAQs and information about themselves that is very accessible on their website, but Trade.com doesn’t. There is a whole section of the site dedicated to “Resources” but that only contains market updates, economic calendars, and such. There is also a short “About Us,” but we still haven’t found a source of useful information. To us, this is not really a major problem because we know that Trade.com is a legit broker and we were able to find the information we were looking for elsewhere. But for a potential client that wants to familiarize themselves with the broker, this could be an issue.
Professional Trading with Trade.com
In response to ESMA updating their regulations regarding leveraged trading, Trade.com decided to try and find a solution and they did. You see, ESMAs new regulations are aimed to limit the amount of risk that retail trades are subjected to. This is done by implementing strict rules on retail traders. However, the regulations say nothing about professional traders.
Because of this, you can open a professional trading account and avoid the newly introduced limits on leverage, ie. keep using the old leverage system. The new system is called Elective Professional Client Program and it can be open directly through the website or your already active account.
Besides higher leverage, there are several benefits to having a professional account, for example, a personal account manager, assistant trading, and more.
But this is definitely not for everybody and the new account type is aimed at professional day traders that meet very specific requirements.
Professional Trader Requirements
- You need to be able to prove that you are an active trader. To do so, you have to show that you’ve performed at least 10 traders per quarter for the last four consecutive quarters. It doesn’t necessarily have to be on Trade.com so if you can prove that you’ve been using another regulated broker, Trade.com might approve you.
- Your portfolio has to be big enough already. To qualify as a professional trader you need to have a portfolio with financial instruments worth at least half a million euros. That’s right, one of the requirements is a portfolio with €500,000.
- The last requirement is professional experience, You have to prove that you work or have worked in the financial sector for at least one year in a professional position.
Note that Trade.com will evaluate every application carefully and that there is no guarantee that you will get a professional account even if you live up to the requirements.
What are the Experts Saying
Based on my experience from the industry and the extensive time spent researching and reviewing a large range of forex and CFD brokers, I am convinced that Trade.com is one of the best brokers out there. Their dedication to offering a large but also surprisingly varied selection of assets is to me a sign that there is a team of highly experienced traders and not only developers behind this broker. I also really appreciate the fact that they’ve decided to offer MetaQuote products as their main desktop platform but Sirix as their mobile platform.
Also, I really enjoyed using Trade.com while they were only offering the MetaTrader 4 and the WebTrader, but I think the addition of the MetaTrader 5 really brought this broker to the next level. It’s no secret that the MT4 and the MT5 are a lethal combination. – Adam, Senior Editor BullMarketz
Trade.com Review – Final Thoughts
Trade.com is a good forex and CFD broker for anyone looking to start trading or changing brokers. They have a great selection of assets, amazing educational material, some of the best trading platforms in the world, and so much more.
This broker provides a service that is equally as good for professional traders as it is for beginners and there is a lot of potential for you to grow as a trader together with the broker.
The only real downside of Trade.com is the high spreads for certain popular currency pairs but you can either accept that fact or choose to trade on assets with more competitive spreads. And as always, if you’re still not convinced that this is a broker for you, we suggest you open a Trade.com demo account.
If you still don’t feel completely sold you can always take a look at some of the other fully regulated and safe forex and CFD brokers that we recommend.
Read the comments below to find our trade.com user reviews.