Trade.com Review
For inquisitive beginners
Pros
- Variable spreads
- MetaTrader 4 platform
- Good education
Cons
- Higher spreads for MT4 users
- Inactivity fee
Contents
9.
Introduction
Trade.com is a young, fast-growing Forex and CFD broker with a large product range and professional trading software. This broker already counts over 100,000 users. Unique at Trade.com is that you can choose from fixed or flexible spreads. Click on the link if you first want to know more about What are CFDs? and What is a broker? In this Trade.com review we explain briefly and clearly what this broker has to offer and for whom it is suitable.
Is Trade.com reliable?
Trade.com is owned by Leadcapital Markets Ltd. which is registered in Cyprus. The Cypriot Securities & Exchange Commission (CySEC) supervises the broker to comply with strict regulations. This broker is affiliated with the Cypriot Investor Compensation Fund, which ensures that investments up to a value of £20,000 are guaranteed if Lead Capital goes bankrupt. This way your money at Trade.com is always safe.
Trading instruments
At Trade.com you can trade CFDs in shares, indices, forex, commodities and ETFs with a maximum leverage of 1:30. Unfortunately you cannot trade cryptocurrencies at Trade.com. They offer over 2,100 tradable assets and the minimum deposit for trading CFDs is £100. Trade.com excels in offering educational material to their customers. Various educational trading videos are available and there is even an ebook for beginners. It is also one of the few brokers that has good telephone support at its disposal. Request a free telephone consultation with a Trade.com specialist here.
There are 3 different trading platforms available at Trade.com:
- WebTrader: No download is required for the WebTrader. You have access to almost all technical analysis indicators. The platform is well-arranged and user-friendly. Risk management features, such as stop loss, take profit and pending orders work in conjunction with price alert. Traders Trends and Trending Now provide in-platform lists of assets in different categories according to the movements on the market. Events & Trade drills into the economic data being reported across the world to optimize on opportunities for related instruments.
- MetaTrader4: Many people know this universal platform, it is known for its many functionalities. In addition to technical analyzes, you can use analyst advices and automatic scripts that you can use to automate your trades. You must first download the platform. You can try this platform in a demo account, and you can gain immediate contact with dedicated account managers.
- Mobile app: The mobile app looks good and works well. It has the same functions as the WebTrader.
Trade.com offers 5 different trading accounts, from beginner to experienced investor.
Enable desktop mode for a better visibility of the comparison table.
- Spreads
- Daily Analysis
- Desktop & Mobile Trading
- 24/5 Customer Service
- Dedicated Account Manager
- Premium Daily Analysis
- Premium Customer Support
- Trading Central
MICRO
SILVER
GOLD
PLATINUM
EXCLUSIVE
Trading Central is available from the GOLD package and is an ideal plugin for the MetaTrader 4 platform. The service provides trends, prices and market history. Technical analyzes allow motivated traders to identify opportunities offered by Trade.com’s MetaTrader4 platform. Trading Central investment research is also used to identify possible opportunities through its methodology on WebTrader. Traders Trends and Trending Now provide in-platform lists of assets in different categories according to the movements on the market. The Traders Trend tool displays trends achieved in the last 6 hours.
Fees and commissions
At Trade.com, the spreads are at a medium to high level. The spread is the difference between the purchase price and the selling price. For example, if the purchase price of Shell is 21.44 and the sale price is 21.40, then the spread is 0.04. The lower the spread, the better. There is approximately 1 pip difference in spread between the Webtrader and MetaTrader4. MetaTrader4 is almost always more expensive. A special feature of Trade.com is that you can opt for variable spreads. If the market moves in your favor, spreads may be lower. You also have the advantage that the spread decreases when trading in large volumes. Unfortunately, after 3 months an inactivity fee kicks in, but the costs for maintaining an account are relatively low.
Below are the costs of a number of common transactions with different CFD brokers. These are long 20:1 CFD and 30:1 forex positions held for 1 week (source: brokerchooser.com). For a complete cost comparison you can check out the CFD comparison page.
£2.000 Apple CFD
£2.000 Europe 50 Index CFD
£20.000 EUR/USD
£20.000 GBP/USD
£4.14
£5.40
£6
£7.80
£6.30
£2.70
£19.60
£16.20
£8.90
£1.30
£17.90
£14
£0.90
£1.60
£17.30
£18.20
£6.40
£2.50
£24.50
£25
Prices above are illustrative and are dated 01/11/2020 at noon
- Variable spreads
- Goede education
- Higher spreads in MT4
- Inactivity fee
# Active investors
100,000
Reliability
Trading platform
- MetaTrader 4
- MetaTrader 5
- Social platform
- Type of investor
Allround
- Functions
Professional
- Mobile app
Spreads
Low
Spread EUR/USD
1 – 3
Tradable assets
2,100
CFDs in shares
2,000
CFDs in forex
55 pairs
CFDs in cryptos
CFDs in commodities
19
CFDs in indices
26
CFDs in ETFs
52
Loss-making investors
75%
Customer service
Education
Usability
Inactivity fee
£25 PM after 3 months
Bank transfer
Credit card
PayPal
- Excellent platform
- Low spreads
- Also share dealing
- High trading fees
# Active investors
Unknown
Reliability
Trading platform
- MetaTrader 4
- MetaTrader 5
- Social platform
- Type of investor
Active
- Functions
Professional
- Mobile app
Spreads
Low
Spread EUR/USD
0.5
Tradable assets
2,200
CFDs in shares
2,000
CFDs in forex
67 pairs
CFDs in cryptos
6
CFDs in commodities
26
CFDs in indices
43
CFDs in ETFs
57
Loss-making investors
75%
Customer service
Education
Usability
Inactivity fee
£10 PM after 3 months
Bank transfer
Credit card
PayPal
- User-friendly CFD platform
- Competitive spreads
- No MetaTrader platform
- Fewer analysis tools
# Active investors
200,000
Reliability
Trading platform
- MetaTrader 4
- MetaTrader 5
- Social platform
- Type of investor
Experienced
- Functions
Average
- Mobile app
Spreads
Dynamic
Spread EUR/USD
Dynamic
Tradable assets
2,000
CFDs in shares
1,900
CFDs in forex
50 pairs
CFDs in cryptos
14
CFDs in commodities
22
CFDs in indices
30
CFDs in ETFs
95
Loss-making investors
76.4%
Customer service
Education
Usability
Inactivity fee
£10 PM after 3 months
Bankoverschrijving
Creditcard
PayPal
- Social trading platform
- Copy professionals
- No MetaTrader platform
- High spreads on crypto
# Active investors
400,000
Reliability
Trading platform
- MetaTrader 4
- MetaTrader 5
- Social platform
- Type of investor
Allround
- Functions
Average
- Mobile app
Spreads
Average
Spread EUR/USD
3
Tradable assets
1,200
CFDs in shares
1,000
CFDs in forex
57 pairs
CFDs in cryptos
92
CFDs in commodities
13
CFDs in indices
13
CFDs in ETFs
21
Loss-making investors
75%
Customer service
Education
Usability
Inactivity fee
£10 PM after 1 year
Bankoverschrijving
Creditcard
PayPal
- Variable spreads
- Goede education
- Higher spreads in MT4
- Inactivity fee
# Active investors
100,000
Reliability
Trading platform
- MetaTrader 4
- MetaTrader 5
- Social platform
- Type of investor
Allround
- Functions
Professional
- Mobile app
Spreads
Low
Spread EUR/USD
1 – 3
Tradable assets
2,100
CFDs in shares
2,000
CFDs in forex
55 pairs
CFDs in cryptos
CFDs in commodities
19
CFDs in indices
26
CFDs in ETFs
52
Loss-making investors
75%
Customer service
Education
Usability
Inactivity fee
£25 PM after 3 months
Bank transfer
Credit card
PayPal
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.