Is Trade.com legit Forex broker?
Trade.com is one of the most remarkable representatives of the Forex trading industry. Founded in 2009, Trade.com is delivering its services from the main office located in Nicosia, Cyprus. The website is owned and is being operated by LeadCapital Markets Ltd.
Is Trade.com legit? This question is asked frequently, although Trade.com is a fully legit business. The broker is licensed by CySEC but also complies with the regulation of FCA and MiFID. Additionally, the safety of clients’ funds is the priority for this company. That is why Trade.com offers a segregated account feature.
Trade.com Review: Account Types
To ensure the best quality of trading even for a very demanding customer, Trade.com offers different account packages. Our Trade.com review identified 3 types of trading accounts at this broker.
Besides great live trading accounts, Trade.com allows testing the platform with the help of the free demo account.
Trade.com Forex broker provides two trading platforms for all the registered users. These are:
- Trade.com WebTrader
- Trade.com MetaTrader 4
- Trade.com MetaTrader 5
The WebTrader, as the name implies, does not require the trader to download any software. The user receives access to more than 2,000 trading instruments via the browser. Trade.com WebTrader has simple navigation, advanced charting package and tons of technical indicators. It is also worth mentioning that WebTrader is fully supported by Android and iOS devices. This allows trading on the go.
To launch MetaTrader 4, the user has to install the software. Just like WebTrader, Trade.com MT4 grants the trader access to hundreds of assets, including Forex, CFDs, Stocks, Indices, Commodities, Bonds, cryptos and now even Cannabis based assets. On top of that, the platform allows users to benefit from automated trading, embedded tick charts, and alerts on trading positions. The same goes for MT5.
Trade.com Opinions: Spreads and Leverage
Spreads at Trade.com depend on the trader’s preferences, as it is possible to choose between fixed and floating spreads at the registration stage. To give an example, for EUR/USD currency pair Trade.com offers 3 pips fixed spread and 2.2 pips in floating mode.
Trade.com allows increasing the size of the position by utilizing the leverage. For Forex trading the maximum leverage is 1:300, 1:100 for Bonds, Indices and ETFs, 1:30 for Stocks. 1:30 is the default leverage setting for all assets other than cryptos. Higher leverage can only be accessed by traders who have been categorized as professional traders.
Is Trade.com legit? A look into its Customer Support
Trade.com website is multilingual and is available in 23 languages. Customer support quality at Trade.com is great. It is possible to reach the agents 24/5 via telephone, email and live chat.
Deposits and Withdrawals
Trade.com offers various payment methods on its website. To fund the account, the client can use credit/debit cards, wire transfer and other remittance methods like Skrill, Safeguard and Neteller. Withdrawals are made quickly at Trade.com, provided that the client has submitted all the necessary KYC documentation beforehand.
Conclusion: Trade.com is legit
As can be seen from our honest Trade.com review, this broker certainly deserves your attention. If CySEC license is important for you – we advise you to sign up with this broker! It is also important to remember that no matter what kind of license a broker might have and how good the services they offer are, they are still not able to limit the risk that is associated with CFD trading. 71.36% of all retail CFD trading accounts lose money, so be careful in how you trade and make sure that the trades you are making are actually going to pan out the way you want them.