The entire Forex brokerage industry has been slowly consolidating over the last few years, for a handful of reasons. The result is that there is now safety when dealing with good firms, part of bigger conglomerate organizations. The main focus of this organization is currency pairs but they also offer access to hundreds of CFD’s based on the appetite of different traders.
Trade.com Account Types
They have three types of accounts, which is typical in this industry. Each account type is contingent upon your deposit balance. Each account also includes escalating benefits, dedicated account managers, training support, and a free demo accounts. It is recommended that you consider upgrading from the basic account to the next level to receive premium support and text signals. No download is required to use their web trader platform. However they do have a mobile trading option. Every asset choice comes with its own spread and leverage which are all detailed on their website. The three accounts are as follows:
- Classic account. Many people enjoy the minimum deposit balance which is set at $100. This is considerably low compared to other brokers. The deposit for the classic account ranges from $100-$2499. With this entry-level account you have access to the free demo account or you can play around with your virtual cash to hone your trading skills before you use your own money. You also get regular support from the company if you have any questions or issues.
- Standard account is the next level up which covers any deposits ranging from $2500 up to $9999. This account comes with text message signals and premium support. It also comes with a free demo account and a dedicated account manager.
- The premium accounts are set aside for any deposits of $10,000 or higher. For this account you will receive text message updates and premium support, on top of a demo account and a dedicated account manager. Downside is there is no information on how long you will have access to the demo platform.
Trade.com Trading Platform and Tailored Trading Packages
Other reasons to use the site are that they have three different types of trading platforms with competitive spreads and leverage. The downside here is that the spreads and leverage vary based on asset and pricing modes that you select. The website can be converted into one of 19 different languages and more importantly they have customer service available through live chat, email, or phone. The phone lines are available in up to 30 countries toll free.
Trade.com Financial Tools, Resources or Other Exclusive Features
The demo accounts have $100,000 in virtual cash with which you can practice your trading strategies before you actually risk any legitimate capital. There are attractive bonus promotions for newcomers, which are constantly changing so it is important to check the website for detailed information about this at the time that you set up your account. It can be difficult to pinpoint exactly what benefit you are going to get unless you are constantly monitoring the website especially for Trade.com forex pairings.
Immediate Trade Execution at Trade.com
You can enjoy immediate trade execution here. Moving funds is easiest with credit card for a bank wire transfer. However, the firm also allows for local payment alternatives such as Safeguard or Skrilla. When you make a deposit there can be a delay depending on the type of method you use for your deposits. They do handle withdrawal requests somewhat quickly but there are still different delays based on payment intermediaries. So naturally this is contingent upon the type of source you are using for your withdrawals. Your bank, for sample, might have a 3 to 5 day delay or higher. More importantly you have to make sure that you have the internationally required identity documents on file and approved before the withdrawal is approved. You can talk to the company through the Contact Us page to learn more about which documents are required from where you are and verify whether they have been approved and are on file with the company.
Their parent firm is a Cyprus-based entity which owns many other ventures most of which are successful. The company is consolidating their operations under the trade.com name making it a global powerhouse. Many European bodies offer regulatory oversight for Trade.com trading. They offer an array of currency pairings including the majors, minors, and a handful of exotics. They have 55 pairings in total. If you prefer to dabble in a different market, particularly one which is regional to your area you can search the 312 CFD trading for different bonds, stocks, commodities, or indices.
Every deposit you make is protected due to the regulatory compliance of the firm. All client account balances remain segregated from the operating capital inside of the major international banks. This is what provides you with security. There are national investor protection programs available if you have a problem with corporate liquidity.
This Trade.com review found that they are operating heavily out of Cyprus, they do offer a lot of international business but they don’t currently accept US clients.
Trade.com Fees and Commissions
Given the different account types available, traders are asked to check the website for the fees and commissions as they apply to their account level.
Support can be found via email or phone calls in many languages.
- Lots of bonuses.
- Free demo account.
- Delays moving funds.
- Not supportive of all international clients.
Is Trade.com a Scam?
So, is Trade.com a scam? Well, they aren’t the best company, but they are not bad. This company, headquartered in Cyprus was founded in 2009. As a subsidiary of a larger organization they have regulatory oversight provided by the eating oversights branch in Cyprus but they also comply with European Union regulatory bodies. Client deposit safety is guaranteed by top-tier segregation among the banks and by the Cyprus investor compensation program.