Trade360 Review

Review

Trade360 CrowdTrading is a Cypriot broker domiciled in Cyprus and regulated by CySec (Cyprus Securities and Exchange Commission). Cyprus is a regulated and well known domicile for brokerages. They are also covered by MiFID regulation. Trade360 is under constant scrutiny and review.

Accounts

Trade360 offers a demo account as well as a real money account.

The minimum deposit required to open an account is $250, which is quite low and accessible.  Certain selected individual stocks are available to trade. Leverage offered ranges from maximums of 400:1 on commodities, 20:1 on stocks, 50:1 on indices and CFDs, and 400:1 on Forex currency pairs. This is a large amount of leverage to offer, and of course customers do not have to use it all as the minimum position sizes are reasonably small (microlots are offered on Forex pairs).

The wide range of assets offered for trading is without question beyond the offering of most comparable brokers, providing the trader with plenty of choice regarding what to trade. Even taking the Forex by itself, an extremely wide range of pairs are offered.

The spreads offered on most of the tradable instruments are not the highest out there, but they are certainly not the tightest. They are reasonably competitive for traders wanting very high leverage with low deposits.

Accounts may be set up very quickly by sending initial copies of required documentation by email, and can be funded by Credit or Debit Card, eWallet, or Bank Wire. Withdrawals take between 3 and 10 business days, and are paid out using the same method in which the original deposit was made.

Accounts may not be opened by U.S. citizens.

Features

The most unique feature is the “crowd trading” style of the platform offered, which is available both as an easy-to-se intuitive web-based interface requiring no download or maintenance, and as a mobile / tablet application available from the Apple App Store and Google Play.

Trade360 set out the logic of the Crowd Trading style by claiming that scientific research suggests that large samples of people faced with the same choice simultaneously tend to produce a statistically accurate average choice. The platform works as follows: “We monitor the trading positions and movements of different segments of Traders, and present them in an aggregated approach that's easy to understand. By examining the crowd's movements before opening a trading position, our Traders are able to make confident, well-informed trading decisions.”

This is expressed in the platform’s layout. You can select which assets to display as tickers. The layout is very clean and easy to read, you see the bid and offer prices for each that are currently in the market. At the bottom of each ticker, the percentage of traders positioned long or short of that asset is displayed in real time. This makes it easy to see at a single glance what the crowd is thinking about any instrument you are considering trading.

A quick glance at the default screen set-up by this reviewer indicated that the strongest crowd opinion was over the S&P 500 Index. 67% of traders with open positions are long, showing a clear crowd opinion. As it happens, this market is in a long-running bullish trend, which is in agreement with the crowd consensus.

This crowd sentiment feature is augmented by a ticker running down the right side of the default screen layout which highlights breaking news regarding sudden swings in crowd sentiment. This means that you do not have to keep scanning through all the instruments minute-by-minute to keep an eye on what the crowd is thinking. These “breaking news”-style sentiment shifts are also accompanied by a little commentary explaining how quickly the shifts are occurring. Examples are shown below:

Instrument “lookups” are available ranked by popularity, volatility, and % daily change.

When you select a particular instrument to trade, it opens up with a new view which shows the net amount of traders long and short from your country, as well as globally.

This new view also shows a technical chart which frankly is rather limited. Only a very few indicators and other technical studies are available, and time frames are limited to 5 minutes, 1 hour, daily and tick charts.

On the positive side, a choice of several languages is available.

Social

Facebook and Google+ accounts may be linked in to the trading account, allowing an extra and external social dimension to the trading experience.

Trade360 CrowdTrading Bonus

A cash bonus of $50 is currently offered to new traders opening real accounts. There is also a $60 bonus for participating in their Practice Area, as well as a cashback per trade offering.

Customer Support Services

Trade360 offers a wide range of support services, with the exception of any kind of managed account or investment advice:

• General Market Analysis - Understand the market with Trade360’s leading technical & fundamental analysis.
• Platform Walk-Through - Complimentary eBook guide, with a full explanation of how to work with Trade360’s trading platform.
• Technical Support - Receive assistance for any technical issue that might arise.
• Account Support - Receive support for any general issues regarding your account.
• Help in Opening and/or Closing Positions - Assistance with basic trading features.
• Help with Deposit and or/Withdrawal Problems - Assistance with failed deposits, delayed withdrawals, etc. 

There is no live chat function at present. Support is given by telephone and email.

Conclusion

The key positives in Trade360’s offer are low minimum deposits, an extensive crowd sentiment feature, a very wide of assets and an easy-to-use, intuitive trading platform.

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Features

The feature which really stands out with this broker is the CrowdTrading™ feature. Through the trading platform and mobile application, you as a trader are continuously alerted to whenever the following occurs:

• Possible uptrends or downtrends triggered by a large amount of sudden buying or selling
• Sudden changes in trading volumes
• Actual percentages of traders who are significantly long or short of trading instruments
• Strong market movements occurring quickly
• Surges in new openings of long or short trading positions

This is a rare feature, based upon scientific research which can give an intelligent trade a basis to build a market edge.

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Platforms

Proprietary Web Trader

Trade360 offers one single trading platform: an advanced web based proprietary trading platform. The platform is entirely web-based, requiring no download or software installation. The platform has a built-in, sophisticated charting package and includes one-click trading. It is certainly intuitive and easy to use, and very unlikely to cause any navigation problems for anyone.

The platform includes an innovative social trading element, where within the actual platform itself you can see what the crowd is doing, giving traders the chance to learn from other traders and exploit the wisdom of the crowd.

Mobile

Trade360 offers its proprietary platform as a mobile application free of charge, 24 hours a day and is available wherever there is mobile coverage. It provides live prices and charts, up to the minute market news and analysis, the ability to trade on the go. All the same functionality as the web-based platform is offered.

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User Reviews

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