Trade360 Review

A New Approach to Social Trading
Editor’s Rating: 93

Very Good

Average User Rating:

Excellent

Introduction

Social trading has witnessed a lot of innovations over the past few years with new and different concepts being introduced to the market by various online brokerage firms. However there was one that I actually found to be quite interesting and this is from Trade360. This company is based in Cyprus and already has regulatory compliance with the Cyprus Securities and Exchange Commission (CySEC) which means that the firm adheres to the strictest guidelines that were set by this trusted regulator.

Trade360 features CrowdTrading which is an entirely new concept of social trading. In layman’s terms, this platform allows me to rely on the wisdom of the trading crowd by examining their actions before opening a position. According to Trade360, research shows that decisions of a majority usually tend to be more accurate and produce better results and based on my personal experience with their platform, I was actually able to make better trades! You may continue reading to know more.

Account Features

Demo Account: Preloaded with $10,000 virtual money

There’s a practice mode that can be used for fully testing the platform without the need to risk money. It comes with $10,000 virtual money which is more than enough to get accustomed to the social trading environment.

Bonuses: A selection of rewards

They offer a generous selection of rewards to newly signed-up members. There’s a possibility to get a $60 reward for simply using the practice area and using the demo account. An immediate $50 bonus can also be earned for entering a valid phone number on the platform. Lastly they offer a bonus of up to $4,000!

Trading Details

Platform: Secured with innovative tools

The proprietary online platform provides an innovative set of trading tools with an interface that is very easy to get used to. It’s so easy to see potential trends as the crowd popularity and live feeds are displayed prominently on the screen. I’ve read the finer details about their platform and was able to determine that all personal and trading sessions are encrypted using the 128-bit SSL technology which means all transactions are secured. They have platforms for online access, mobile access and the standard MT4.

trade360 platform

Mobile Trading: Markets are accessible at all times

Trading on the move is possible thanks to the mobile apps that are compatible with various Android and iOS devices. It practically has all the same features of the desktop version but comes with superior content streaming and an optimized interface for smartphones and tablets.

Minimum Lot Size: Ideal for efficient risk management

Similar to other brokers, they also allow a minimum lot size of 0.01 which is ideal for managing the risks since I can set an investment amount that I am more comfortable with.

trade360 lot size

Maximum Leverage: Volume of capital considerably increased

The maximum allowed leverage are also promising. For stocks, it can be set to 1:20 while commodities and currencies can be placed to 1:200.

Spreads: Favorable trading conditions

Trading with fixed spreads is possible with this broker. The lowest spread for stocks is 10 while currencies can go for as low as 1.8 including the EUR/USD currency pair.

Social Trading

Social Network Integration: Login with Facebook or Google+

It’s possible to sign-up for an account using your Facebook or Google+ account. This currently is the only social network integration that they have done but it won’t be surprising to see them introduce more connections in the future like friend feeds or trade sharing on these popular social networking sites.

trade360 copy trade

Automated Trade Copying: Not available but…

Since this is a new concept where the trades will be based according to the wisdom of the crowd, placing automated copy trades are not applicable but on the other hand, there is an option to place a Stop Loss (S/L) to protect the trades in the event that it goes the other way around particularly when market conditions a highly volatile. There’s also an option to place a Take Profit (T/P) which closes an open position in case it is able to reach the value that was set.

trade360 copy trade

Traders Allowed to Copy: The trading decisions of the crowd

Crowd trading is a different technique so basically there are no specific traders to copy. Basically the technique here is to observe the decisions of a larger sample of people which are often more accurate compared to a minority or an individual’s judgment.

trade360 copy trade

Deposit and Withdrawal

Minimum Deposit: More affordable

Trade360 only necessitates a minimum deposit of $100. This amount is certainly a lot more affordable compared to the requirements of other social trading sites.

Deposit Methods: All the known payment schemes

The supported funding methods include credit cards, debit cards, pre-paid cards, eWallet, Online Bank Transfer and Local Bank Transfer.

trade360 deposit

Withdrawal Methods: Same as the deposit method

Withdrawals are only transferred via the payment method that was used initially to place the deposit. Transfers via credit cards only allow a maximum amount that is equal to the initial deposit while the exceeding amounts will be deposited via bank wire.

Withdrawal Processing Time: Within 24 hours

These withdrawals are processed in a matter of 1 day while the waiting time for the receiving of funds will be dependent on the selected payment method. In my experience, it only took around 3 days to receive the money back on my credit card.

Support

Channels: Phone, email and live chat

There are different was to reach the helpdesk. They can be reached by telephone, email and live chat.

Availability: Mostly on major trading hours

Phone and live chat support are available during major trading hours while email inquiries are usually answered in less than 24 hours.

Supported Languages: English only

As of this writing, the site is only available in English but according to their helpdesk, they will support other languages in the future.

trade360 support

User Reviews

User Reviews score: 9.5 stars

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.

trade360 reputation
trade360 reputation
trade360 reputation
trade360 reputation

Editor’s Opinion

Platform Design: Customizable Interface

Browsing the web-based platform is plain easy thanks to the customizable interface. It shows a real-time feed of trading ideas while selected instruments come with useful information like charts, spread, margin and rates.

Support: Responsive and helpful

Their phone support agents are very friendly and are ready to assist their clients. All of my questions were answered properly and professionally.

Reputation: A regulated broker with a new and innovative concept

One of the reasons why I am assured that Trade360 is safe is that it is authorized and regulated by the Cyprus Securities and Exchange Commission and the Markets in Financial Instruments Directive (MiFID) but other than this advantage, they have a platform that has an entirely new and different concept which I personally believe to be very promising.

Conclusion

Editor’s Score: 93

Trade360 has further simplified and reformed the domain of social trading with a concept that streamlines the learning curve and the decision-making process thanks to their extensive crowd sentiment feature that can be accessed directly from their intuitive web-based platform. If you’re a novice who’s looking for ways to make more informed and wiser trading decisions then Trade360 should be your top choice.

 

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21 comments

  1. Mohamad Hedlund

    Heard about the revolutionary CrowdTrading and so I signed up with trade360, it is amazing, besides making successful trades, I have made some good acquaintances using their social platform.

    • Augustine Mackay

      Yes I do, and it is great because they will give you a $10,000 virtual money to start with, so you can enjoy practicing your trade without spewing money into the bin.

    • Damaris Perreault

      Trying demo account with this broker is a good idea, and most of all the virtual money is really helpful because it will either last longer or loose it all in a matter of time.

    • Fernanda Slattery

      Fundamentally the first-deposit bonus is common to most broker, but you have to take note that Trade360 offers up to $4000 bonus, and for me it is more than wow, but that depends on the account you want to open with them. One good thing is that by verifying your account through the phone no. you had given them will entitle you to $60 bonus.

  2. Lizzy Lattimore

    I checked on the demo account and I particularly notice the visuals of their platform. Most brokers with social trading are not as appealing as this one.

    • Kerri Branch

      Yes it was, they furnish their traders with the 1:200 leverage with a minimum lot size of 0.01, I personally think that it is sensible enough for most clients.

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