Trade360 Review – Is This Unlicensed Forex Broker a Scam?

Trade360 Security and Regulations

The regulatory body CySEC, as mentioned above, provides Crowd Tech LTD with the regulatory structure. It is in line with the Financial Instruments Directive 2014/65/EU.

The EU’s 5th Anti-Financial Laundering Directive also regulates EU-regulated brokers. EU Directive 2014/49/EU provides protection for retail traders up to two-thousand euro through the user’s compensation recovery/fund (CIF).

However, investors who manage their accounts in Europe (EEA), are now at a disadvantage due to leverage developments.

Users’ funds are also kept separate from corporate reserves, although the maintenance bank isn’t defined.

Trade360 also keeps a list of required certificates on their website. Including Pillar Three, Trade360, interviewed by a representative from “PricewaterhouseCoopers” – a worldwide colossal accounting firm.

Pillar Three, which is the Basel Standards, is an optional regulatory structure that focuses on bank assets capacity. It includes pressure examination, FX liquidity risk analysis, and FX liquidity risk assessment.

To conclude this segment, The company claims to hold what seems to be a secured web platform–furthermore, data treated on two distinct locations that demand synchronization. It is impressive to see the compliance and administrative conditions.

Trade360 can also be trusted by traders with their personal and capital documents. Can we stamp that statement on Trade360 broker Trade360?

Fees and Charges

The broker’s pricing conditions are often more expensive than those of its competitors, which can lead to traders losing money. Four pips are the Euro/Dollar spread; dealers who deposit a minimum of ten thousand dollars will see a decrease to 2.0 pip.

Assets can be expensive, which helps to spread the risk of construction uncertainty. Although commissions are not available, Trade360’s bid/ask price volatility guarantees significant client-driven revenue streams.

Additionally, the official website of the company lists Swap Rates for Overnight Positions.

After ninety days of inactivity, Trade360 will open and close positions regularly. Hedged individuals will be required to pay a 0.10% management fee. Hedged positions will be removed without further notice after 21 days.

Trade360 will charge a fee of 100 dollars for accounts that are inactive and have a balance greater than 100 “bucks”. This is for accounts with less than 100 bucks. For accounts with less than $100 in balance at the time of account opening, a nominal fee will be charged. This fee includes information about the account’s imminent closure. The broker also claims that withdrawing and depositing are completely free.

Trade360’s review revealed that Trade360 doesn’t publish any third-party fees. This is a serious oversight. Traders also gain from the fact that assets of the company are significantly overpriced.

Options for trading

Trade360 users have introduced approximately forty-eight currency pairs. This provides sufficient, if perhaps not essential, coverage for the FX Market. Five commodities are not available, which does not adequately complement the FX trading range.

Equities are the number of assets where 476 2 liquid names are listed. Only seven index CFDs can be seen. The asset table is now closed with forty-one ETFs. Cryptocurrencies are notable absent.

The selection will be adequate for new traders, while committed equity traders will have a choice. Advanced traders may encounter barriers, particularly in commodity and FX areas.

Trade360 offers basic FX coverage, but also a healthy equity range.

Trade360 – The first steps to opening an account

To ensure that clients of Trade360 are fully aware of the trading risks, they must pass certain compliance tests. You will need to present official documents when you open an account.

Trade360 has the following words:

1. “Be aware. “Please be aware that the Proof-of-Address document’s expiration date may vary for different entities under Trade360 Brand.
2. A scan of your passport, driving licence, or national ID. A utility bill, or bank statement, showing your address, from the last three months.

To establish their trading experience, users will need to answer a few important agreement questions. It is best to allow a few minutes for the account availability process.

Some users complained that they could not access the company’s platform immediately. Trade360 insists that users will not take any positions until they pass the compliance test.

Important Note: Contracts for Difference are leveraged commodities that can result in the loss or your funds. All trading is subject to risk. Learn more before you invest. Past performance is not indicative of future results.

A Few Account Plans

All the company’s account plans, as of today, are not necessary to be obscured. We have already mentioned that the visible target FX market is still available to young retail investors who prefer social trade.

Recently, the broker has stopped providing equitable access to all types of deposits. This is apparently due to slow growth by additional brokers.

Spreads for the so-called “Mini account” start at four pip for a minimum deposit five hundred dollars. This is only used by CrowdTrader platform.

Clients can also get a thousand dollar guarantee, which allows them to open a Conventional account. This will lower prices to three pip and introduce the MetaTrader5 FX trading platform.

The higher tier accounts offer the best pricing, with a minimum spread between two pips and deposit requirements up to ten-thousand dollar and fifty-thousand dollar, respectively.

Moreover, there is no discernible difference. There are Islamic accounts, but they require a minimum deposit.

Trade360 Common Platforms to Trade

MetaTrader5 is the new alternative to the MetaTrader4 app, which can be found at Trade360.

CrowdTrader, Trade360’s proprietary trading platform, is still at the core of Trade360. Users tend to use both the mobile version as well as the web trader. This demonstrates the absence of MT4, which third-party plugins have the same characteristics.

CrowdTrader allows access to real-time data, based on Trade360 customer attitudes and positions. But, it is not available for all markets. Additionally, it may be used to support decision-making.

The right-hand corner of the screen has “Crowdfeed”, which is an advanced crowd trading algorithm. It features trend spotting, trend withdrawal and fast movement.

Trade360 Desktop Platform

Trade360 Desktop Platform allows you to join social trading, which includes copy Trader and master accounts.

It also means you can imitate master accounts and profit from exchanging without experience or delay by simply copying orders.

MetaTrader5 is a platform that allows you to trade with innovative trading techniques, practical servers, and a trained level summary.

The MobilePlatform is another alternative.

Users should keep their apps up-to-date as often as possible. Trade360 designed its app to work with iPhones, Androids, and iPads.

It’s a very useful program that allows you to manage your transactions wherever you are.

Trade360: Can we really trust it?

Trade360 is prone to having problems with regulations. Trade360 does however store customers’ personal data in SSL encryption on its Desktop platform and mobile platforms.

Trade360 recommends that customers log into their web platform to continuously scan for the SSL safety symbol in the browser while they use Trade360’s trading account.

“Unique Traits”

Trading Central, which Trade360 offers, is a self-governing exchange investigation point. It also provides dealers with market coverage and functional inspection.

It does not provide a longer introduction. Although the majority of it is included in the webtrader platform.

Trade360 provides education and research tools

Trade360 has a section for study on its website. Trading Central provides them. Trading Central presents them in a concise format that includes all the information and a chart. This allows for quick, easy-to-understand trading plans.

We were unable to find the educational section of the website and In-house research was not possible. Trade360 is a completely open-source platform that relies on the masses to execute trading administration.

The Help Center aka Client Support

Trade360’s Help Center aims to resolve most issues. Trade360 also claims that customers have an easy way to contact customer support via the live chat. A webform is displayed, often with a phone number and an email address.

Trade360’s support and commodities work as expected. It is available and ready. However, the company does not specify the hours of service.

Email Support at Trade360

Trade360 received many emails from our team, and they responded in a timely manner. Trade360 responded in less than four hours. The longest delay was just a few days. The company may alter the rates of assistance replies.

We did send ten emails at various times, but that was all we did. Trade360 quickly resolved our questions and provided answers. Overall, Trade360’s email support was average.

Numerous Promotions and Bonuses

Trade360 does not offer bonuses or special promotions that are in line with EU regulations. Trade360 Reviews are clear that Trade360 does not offer any bonuses. There are many reports online that show that Trade360 offered bonuses.

Withdrawal and Deposit

Trade360 holds bank wires and cards, Paysafecards, Neteller, Skrill.

Although the company claims that there are no broker fees, third-party fees could be an issue. The website lists withdrawal conditions that can take up to one week to process.

AML obligations also require that the title of the fee processor and exchanging account must be identical. Trade360 allows traders flexibility and independence in managing their capital flow.

Clients have reported that Trade360 agents are acting against their policy in some troubling reports.

Broker charges inactivity fees

The company recently stated that it charges a fee for accounts that are inactive. It is also a known fact that a brokerage client will be charged an account inactivity fee. Clients may be required to meet certain trading conditions set by different brokers.

Users may be charged an inactivity fee if their trading account fees do not allow them to sell or buy as the broker directs.

Inactivity fees are not only applicable to online FX trading accounts plans. Inactivity fees may be imposed by many financial assistance companies.

Always check the official website of the broker. Also, make sure that you are fully informed about all charges and fees.

Stop trading your account if you stop using it. Contact the customer service team immediately. Also, make sure that you have a certificate certifying that there are no outstanding fees.

Depending on the type of account you have accepted, you may only be able to pay an inactivity fee that supports specific conditions. Trade360 must publish inactivity expenses as part of its regulation.

Trade360’s inactivity fees are also a problem. This is to get back commission fees for clients trading. Sometimes, they even charge random fees without any particular reason.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

Trade360: Video

Below you will find a short video about Trade360. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Trade360!