I don’t just settle for a broker that offers mediocre or average service quality. So when I heard about this broker called Trade.com from a fellow trader I made a lengthy and extensive test to find out if this one will be able to meet my strict standards.
I checked their company history and found no serious issues or complaints since they started their operations in 2013. What surprised me was that there were a lot of good reviews from trusted financial review sites and their clients as well. Convinced that they have a good reputation, I decided to sign-up and test the demo account which I found to be very useful for familiarizing myself with the platform. It didn’t take that long before I switched to the live trading mode. Their tradable instruments include an all-star line-up of top stocks from global market giants and other products including a diversity of currency pairs, CFDs, metals, oil, indices and futures all in a single and flexible platform. I also found their pricing to be very competitive with tighter spreads and leverage of up to 1:200. Overall, I had a pleasant and satisfactory experience. Please continue reading for my full review.
Demo Account: 1 month to explore
There’s a free demo account that is pre-loaded with $10,000 virtual balance. Once this is activated, the account is valid for 30 days which I think is enough time for me to explore its features.
Bonuses: A good welcome package
The welcome bonuses will be subject to your account type or the decision of your account manager so be sure to negotiate and ask for the most suitable promotion so you can get the best deal. (Terms and conditions apply)
Platform: MT4 and Sirix WebTrader
Trade.com has the MT4 platform for PC’s and the Sirix WebTrader for those who would like to access the platform using a web browser like Firefox, Safari or Chrome. The downloadable version comes complete with charts and analysis that helps in making timely decisions while the web-based platform features a social stream which is useful for monitoring the market trends.
Mobile Trading: Web-based and Android MT4
Currently, they only support Android platforms with their MT4 app. However, they can provide a mobile trading portal that can be accessed from a smartphone or tablet web browser. This is an excellent alternative for those who are using iOS and other mobile operating systems.
Minimum Lot Size: Less risks
They allow minimum lot sizes to go for as low as 0.01. Advantageously, this gives me more control on the corresponding risks on my trades.
Maximum Leverage: The normal ratio
Trade.com allows a maximum leverage of 1:200. It’s not that big but it’s ample enough to increase the potential gains.
Spreads: Competitive numbers
They have competitive spreads and little to no commission on trading various assets. For the EUR/USD pair, the spread is 2 pips which is much better than the norm.
Tradable Instruments: Vast range
It wasn’t hard for me to increase my trading portfolio thanks to their vast range of over 2,000 instruments. They have a variety of metals, oil, CFD’s, Stocks, futures, indices and over 50 currency pairs to trade.
Deposit & Withdrawal
Minimum Deposit: A bit on the high side but…
Their $100 minimum deposit requirement is probably the only setback that I can find with this broker. However, this may only be a concern for those who have a low capital but for anyone who plans to trade on a long term basis; this definitely will not be an issue.
Deposit Methods: Standard options
You can fund your account using wire transfer, credit cards, Skrill, Neteller and more depending on the country where you’re from. All of these payment options are safe and secure.
Withdrawal Methods: No difference with the deposits
Withdrawing money can be done with just a few clicks. They also support the same banking methods for cashing out funds.
Withdrawal Processing Time: Shorter waiting times
The withdrawal processing time only took up to 3 days. Aside from the fact that it’s fast, I never encountered any problems in getting the funds back.
Channels: All modes of communication
The customer support can be reached via phone, fax and email which are the most common methods of communication.
Their support is available 24 hours a day.
Supported Languages: Not just English
In addition to English, you can access their website in French, Arabic, Italian, Spanish, German, Chinese, Russian, Polish, Portuguese, Romanian, Thai and a variety of other languages.
Average User Rating: 9.0
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Excellent for trading
What I like about the interface is that it has been well-optimized for fast trade execution. It looks very sophisticated, yet it has never sacrificed the responsiveness and speed of the platform which is a great advantage especially when the markets are highly volatile, and you need quick responses.
Support: Efficient and knowledgeable
If there’s one thing that I can say about their support team, it is that they handle most client issues in just a matter of minutes. They quickly provide answers and solutions to most queries and problems. They know very well how to practice speed and accuracy.
Reputation: Fully licensed and provides first class education
Trade.com is licensed and regulated by the Cyprus Securities and Exchange Commission which means that there is a high level of security. But aside from this fact, they are also widely known for taking traders to the highest standards of proficiency in their first class education for making more informed decisions.
Editor’s Rating: 91
Trade.com is an online brokerage firm that has a lot of promising features. They have a range of solutions to cater to your needs as a trader. So whatever level of experience you may have, it doesn’t matter if you’re a novice or veteran. Their value-added services such as their high quality and two-tier educational materials can certainly take you to the highest levels of proficiency for better trading outcomes in the forex and CFD markets.