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Trade360 Review - Is it scam or safe?

Trade360 Review - Is it scam or safe?

RATING: 3 / 5 REVIEWS ForexBrokerz Trade360
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Trading Accounts

 

Account type  

 Minimum deposit 

Minimum line

Maximum leverage

Spreads           

Mini

$100

5 000

1:400

1.8 pips on EUR/USD

Standard

$1 000

10 000

1:400

1.8 pips on EUR/USD

Gold

$5 000

50 000

1:400

1.8 pips on EUR/USD

Platinum

$10 000

100 000

1:400

1.8 pips on EUR/USD

VIP

$50 000

500 000

1:400

1.8 pips on EUR/USD

 

Trade360 offers 5 account types, based on the client’s initial deposit.

 

All account holders receive live crowdtrading feed on the CrowdTrader platform and are able to trade with leverage up to 1:400 (for currencies) and relatively low fixed spreads with no commission fees. Besides, all of them are entitled to cashback rewards.

 

Gold, Platinum and VIP account holders get some extra services such as SMS notifications and signals, as well as increased cashback rewards.

 

What is more, Islamic (swap-free) accounts are available at Trade360 upon request. 

 

Crowd Trading

 

Trade360 has revolutionized the markets by establishing a unique innovative method in the world of online trading, called Crowd trading.

 

The CrowdTrading Algorithm comprises a number of tools that identify patterns in traders’ activity and displays sharp changes on specific assets, thus helping traders make profitable informed trading decisions.

 

Though it shares some common features with Signals trading, Crowd trading actually is a different thing. You don’t copy the trades of a particular signals provider, but instead follow a whole market trend, formed by a group (crowd) of traders at a certain time. 

 

Crowd trading is based on the concept of the Wisdom of the Crowd – a belief that collective knowledge of a large group of individuals tends to be more accurate than that of a single expert.

 

The Company. Security of Funds

 

Trade360 offers trading in wide range of financial instruments: more than 40 currency pairs (bitcoin included), CFDs on commodities, indices, stocks, and ETFs. They are all available for trade on the company’s in-house trading platform.

 

Founded in 2013, Trade360 is the brand name of MPF Global Markets Limited, a Cyprus Investment Firm (CIF) - which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).

 

The Cypriot financial watchdog applies certain requirements to license holders and sees to compliance with the rules set. For instance, the Commission requires forex brokers to hold at least €730,000 as a proof of financial stability. Besides, customer funds must be held in segregated accounts, separate from the company’s operational ones.

 

As a further guarantee to clients’ funds, all CySEC-regulated brokers are members of the Investor Compensation Fund, which is able to pay compensation to its covered clients up to 20,000 EUR, in the event of broker insolvency.

 

Moreover, every CySEC-regulated investment company is also MiFID compliant and therefore entitled to provide cross-border services within the EU under the MiFID Passporting Regime.

 

Trading Conditions

 

Minimum Initial Deposit

In order to open an account with Trade360, traders have to invest a minimum of $100. Such minimum initial amount is relatively low, especially taking into account the innovative services, offered by this broker.

 

Spreads & Commissions

Trade360 offers fixed spreads, which amounts to 1.8 pips for the EUR/USD pair, which is a low value, as most fixed-spread brokers offer spreads of 2 pips (or higher) for this currency pair.

 

What is more, Trade360 charges no commissions, as is usually the case with most fixed-spread brokers, who get remuneration for their services through the spread.


Leverage

The maximum leverage level offered by Trade360 is 1:400, which is considered a comparatively high ratio. However, many Cyprus-based brokers offer even higher levels - for example, XM provides leverage up to 1:888 and FXTM – up to 1:1000. Check out a list of brokers, providing leverage equal to or exceeding 1:500 here.

 

Nonetheless, we advise traders to exercise caution when trading on margin, as higher leverage involves greater risk of losses, which may even exceed the initial investments. 

 

Trading Platform

 

Unlike most brokers, supporting the common MetaTrader 4 platform, Trade360 offers its in-house platform, called CrowdTrader. As it is entirely web-based, you can trade from wherever they happen to be in the world, and what is more, you can log with your Facebook or google account. Of course there are mobile apps for iPhone, iPad, and Android. 

 

CrowdTrader is in fact one of the simplest trading platforms that we have come across. The trading screen is presented as a large viewing window where the assets are displayed.  Each of the instruments is equipped with a chart (with numerous tools and indicators), which pops out with a single click. One of the advantages of the platform is the Wisdom of the Crowd feature - it simply says “55% say sell – 55% say buy” for a given currency pair (in real time).

 

 

The essence of Trade360’s crowdtrading platform is the live feed of trading ideas for various instruments, which is on the right side of the trading screen.. It displays the type of asset, market conditions, such as “Growth in trading”, “Surge in Openings”, “moving fast”, etc., as well as the recommended actions (simply SELL or BUY).

 

Promotions

Practice account holders may earn up to $60 in real money. After switching over to Real Mode and registering, the bonus earnings will be added to the live account. 

 

There is also a $50 welcome bonus, available to clients who register their correct telephone number and trade a minimum of $1,000,000.

 

Besides, the broker provides Cashback rebate program up to $360. 

 

Methods of Payment

 

The following payment methods are available to Trade360 clients: Debit/Credit Card, Online & Local Bank Transfer, as well as popular e- wallets Skrill & Neteller.

 

This broker charges no deposit/withdrawal fees.

 

Conclusion

 

Trade360 is a well-regulated innovative broker that offers unique online trading service, Crowd trading, on its proprietary platform. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros  Cons
Unique trading service offered: Crowd trading No option to open multiple accounts
Competitive fixed spreads
Well-regulated  No account management services
No commission or withdrawal fees Fixed spread only
High leverage levels  
Attractive promotions available  

                                                                                                                                         

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Traders` reviews for Trade360

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

trade360 scam broker, do not deposit!

Trade360 , based in Isreal is a scam broker, once you have deposited your money will never come back, they will manipulate make you lost trade and lost money, if you do not know trading and need an account manager with this broker , DO NOT DEPOSITE! BEWARE

eng lee 12/02/2019

Platform stoped working

The trading platform stoped working when trading wasent able to add funds or even stop trades level contact help line even after a week still no contact from them this happened after a line manager changed my account to a different account and by doing this l ended loading 3100 dollars they were not helpful in any way so l with free the funds that l had left all he was interested was making money for him self .
If any one is thinking about joining this company l would think twice.
I will point out that lam a trader with other company's and haven't had any problems with them i would recommend that before you think of joining this company and giving them your hard earned .money l would think twice

Andrew gree.n 11/15/2019

Complete scam - stay clear!

These guys are complete scammers. Stay clear.
They will call you relentlessly, even if you block them, from mutliple phone lines and will tell you tall stories about how a stock will go up, 600%, or 100% and then ask you to deposit funds immediately. They will start with 5000$ and then if you are resistant, will drop to 2000 and then 1500 and then 500 and then 250$. Shows you how big scammers they are.
They will then ask you for your credit card details and that they will do a manual funding of the account, so you can make money on the day, and not lose the oppty. Dont fall in that trap. NEVER give your credit card details to anyone, as they can simply charge your card with whatever sum they want after you give them the details.
IF refused to give my details and they tried various methods of trying to get the details. I refused and threatended to report them to the police and then, they backed off.

Richard 10/24/2019

stay away from them

they call me several times and i deposit $500 and after 15 minutes i asked them to return back money but till now they didn't.

zahra 09/03/2019

Bully and belittling

I gave $250 as a minimum startup. Within minutes they called me, and the bullish arrogance began. I felt like I was being ridiculed as I did not want to give them more money. And going as far as to say I was living from pay cheque to pay check, because I didn’t have more money to give them. I can’t get my money back, even though I requested it in the first conversation with Max the trader.
My advice, don’t hit that deposit button, keep your money in your pocket not theirs.

Wendy 08/31/2019

Aggressive con people

Trade360 are responsible for taking advantage of a novice like myself with promises of earning big returns, in fact, i lost over $42,000 with them, when i wanted to quit, they are very aggressive and manipulative who pile on the pressure to deposit more and more and when they try to 'help turn your account around' it goes the wrong way. Complete con people but very good ones and i the biggest fool for believing in them. DONT TOUCH THEM !!!

Mark Barnes 05/06/2019

Refused to send back my moeny

Its very bad company, they refused to transfer back
My money. Their first exuse that the money exceeds
My deposit, I called my account manger and he told
Me that I can withdraw only 800$ which I did then they
Keep reverse the transaction. Many times i called them
Unhelpful and very mean dealing with clients.
I have all the transaction history by email and until
Now no money back.
My advise go every person not to deal with such
Fraud company.

Ashraf almanasir 05/05/2019

Horrible Experience

I had a Horrible Experience with them, they push to deposit more money and give you the wrong direction to lose money, and when ask to withdraw your money, they refuse.

archsamer 02/20/2019

Very rude and aggressive staff who pressurise you

No matter what the papers and tv says STAY CLEAR of these . Their staff pester you at all times of day from 7am in a morning to late at night, they are rude aggressive and very arrogant . I had one member of there staff Max who was unbelievable rude and pushy. I wirhdrew my money immediately simply down to his attitude.

Today I have recieve 17 missed calls and emails from them continuing to harass you

Stay clear

Aileen yates 11/15/2018

Withdrawal problem

Hello sir.... Am one of your clients... But i cannot withdraw my profit... They company staff tell me you pay documents then only you will get profit... But while am search your site it cannot tell any fees for withdrawal and deposit fees

Muhammed faiz 01/12/2018
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