Trade360 Broker Review
Despite a huge number of platforms offered in recent years, Trade360 provides absolutely new and innovative concept, that focuses mainly on the principle called “wisdom of the crowd”, which gives users an opportunity to view the market sentiment before opening a position.
It s licensed and regulated broker which is quite different from the other ones. There are many Trade360 reviews and most of the focus on one different aspect – social trading features. Unlike other brokers that focus on the provision of the MT4 platform, this broker lets the traders benefit from the ideas of the crowd.
Trade360 Review: Signals
Trade360 is able to present the trader with accurate signals based on the collective thinking of various trader groups. The process is very easy to understand. For each asset the platform displays tickers, showing bid and ask prices and the percentage of traders that have opened either a long or a short position at a time on the particular instrument. For example, at a specific moment the percentage of traders with opened long positions on S&P 500 in comparison to those with short positions are 67% to 23%.
Traders can monitor the crowd’s sentiment before making a trade, which gives them a huge advantage over those using alternative trading platforms.
Besides this feature, which allow users to examine the market participants’ opinion on a certain instrument, the platform offers one more important feature. An indicator that is displayed in the right side of the screen, it shows unexpected movements in crowd sentiment and the speed of these swings for all the instruments.
Trade360 Reviews: Indicators
This makes the trading process more convenient, as the trader does not have to look up every instrument to be kept informed of the crowd sentiment.
In addition to the “crowd trading” feature, Trade360 review shown that this broker provides its users with an access to a simple trading web-based platform, which requires no download.
Applications for both iOS and Android devices are also available. This broker offers has a simple account opening procedure, which allows users to set up their accounts momentarily. Both funding of the account and withdrawing money can be implemented using Credit or Debit Card, eWallet, or Bank Wire, with processing time ranging from 3 to 10 business days.
Traders are offered both demo and real money accounts with an extremely low minimum deposit requirement of $25, and high leverage, such as 200:1 on commodities, 20:1 on stocks, 50:1 on indices and CFDs, and 400:1 on FX. Moreover, traders, who have verified their phone numbers, are offered $50 cash bonus when opening a real account.
For opening a new demo account, users are offered a bonus of $60. Trade360 has the following starting spreads on trading instruments: 1.8 pips on FX pairs, 5 pips on commodities and stocks, and 0.8 pips on market indices.
Trade360 Opinion: the verdict
Taking into consideration the low initial deposit and high leverage, the spreads on trade instruments, though not the tightest in the market, are highly reasonable. Opening accounts by US citizens is prohibited.
Other advantages found at Trade360 review are the availability of several languages and the customer support service, which allows the traders to communicate via email, fax or telephone.
Taking into account the unique feature of “crowd sentiment”, simple and easy-to-understand platform, minimum deposit requirements and high leverage, the Trade360 is a platform worth using.