Founded in 2013, Trade Capital Markets Ltd, formerly Leadcapital Markets Limited, offers online trading through Trade.com. The parent of the firm is a Cyprus-based entity that already owns such other successful ventures as Forexyard.com, Excellence Option, Prestigeoption.com, and Optionsclick.com. Trade.com provides the ability to trade CFD’s on Indices, Currencies, Commodities, Cryptocurrencies, Shares, ETF’s and Bonds. They offer two platform options: their Web Trader or MetaTrader 4. In addition, Trade.com offers DMA (Direct Market Access) which allows traders to access an even broader range of assets, directly through the exchange. Trade.com EU operations are regulated by CySEC (Cyprus Securities and Exchange Commission).
In this Trade.com broker review:
- Trade.com at a glance
- Asset Coverage
- Account Types
- Opening an account
- Deposit and withdrawal
- Spreads, Commissions, and Fees
- Trading Platforms
- Mobile Trading
- Additional Tools
- Customer Support
Trade.com at a glance
|Regulation||CySEC (Cyprus) – EU|
|Asset Coverage||Commodities, Crypto, Currencies, ETF’s, Indices, Shares, Bonds|
|Trading Platforms||Web Trader, MetaTrader 4|
|Minimum Initial Deposit||100 EUR, USD or GBP|
|Leverage||Up to 30:1 for most EU countries, for retail trading accounts|
Trade.com Asset Coverage
Trade.com offers a wide range of assets to trade. They are Commodities, Cryptocurrencies, Currencies, ETF’s, Indices, Shares, and Bonds. That is 19 Commodities, 5 Cryptocurrencies, 55 Currencies, 52 ETF’s, 23 Indices, over 2,000 shares, and 4 Bonds. Moreover, the commodity arsenal is quite considerable compared to other brokers. For example, we should note that rare commodities are available, such as Zinc or Rice. All in all, Trade.com offers a good range of assets to trade for most kinds of traders.
Trade.com Account Types
Trade.com offers a very wide range of account types to choose from. We should separate that Trade.com offers 3 categories of accounts. They are CFD accounts, DMA (Direct Market Access) account, and Professional accounts. Let’s dig deeper into CFD account types and the DMA account.
Below is a summary of the different types of CFD accounts available.
As we can see, Trade.com offers a simple logic to the account types that are available: more account size equals more features and lower spreads. For instance, for beginners who only want to deposit the minimum, the default EURUSD spread will be 3 pips. In addition, they will not have access to features such as Daily Analysis, Dedicated Account Analysis, Premium Daily Analysis, Premium Customer Support, and Trading Central. In general, by having a larger account size you can save more than 50% on spreads! This a very powerful feature that favors larger traders and account sizes.
The minimum deposit for CFD accounts is 100 Euros, Dollars or British Pounds. Furthermore, leverage for most EU countries is up to 30:1 and depends on the instrument. Moreover, there are several base currencies to choose from: EUR, USD, GBP, PLN, CZK, ZAR. As per Trade.com, there are a few restricted jurisdictions: “We do not establish accounts to residents of certain jurisdictions including Japan, Canada, and USA”.
In addition to CFD accounts, traders can get direct access to markets and bypass the broker in order processing. This way, they will get access to the exchange directly. There are a few benefits to this. To name a few, first, you will reduce your latency as you bypass the broker. Second, you will reduce slippage. In addition, DMA accounts offer a much wider range of instruments available to traders. For instance, you will get access to over 100,000 instruments available on 120 markets, from 31 countries. As far as trading platforms go, DMA offers a different trading platform for traders. That is, IBKR WebTrader Software, powered by Interactive Brokers. A different fee structure will apply, and the initial deposit is 5000 Euros/Dollars. It is a good option for serious traders with more considerable account size.
Opening an account at Trade.com
Opening an account with Trade.com is pretty straightforward, and the process is fully digital.
Firstly, you will need to enter your email address and password and select a base currency. Once you’ve created your account, you will need to validate your email address and go through a verification process. This includes providing information such as:
- Basic information, such as date of birth, address, etc.
- Your financial information – how much you earn, savings, etc.
- Your trading experience
Also, in order to qualify, you will need to answer a few questions regarding trading CFD’s.
Once you’re done with the latter, you will need to confirm your residency and identity. For identity verification, you will be asked to either upload a photo of your national ID, passport or drivers license. Whereas for residency, you will be asked to provide a copy of either your utility bill or bank statement.
After you’ve submitted all the necessary information, your account will go through a verification process. It can take up to 3 days to complete. However, in most cases, it’s done within the same or during the next business day. You are able to fund your account before the verification process is completed.
Deposit and withdrawal at Trade.com
As mentioned, there are several base currencies to choose from: EUR, USD, GBP, PLN, CZK, ZAR. Deposits at Trade.com are free. Minimum initial deposit is 100 Dollars/Euros/Pounds. Deposits are available in several different options, including:
- Bank transfer
- Credit Card Payment
The bank transfer can take a few business days, while electronic wallets and credit/debit cards are instant.
As far as withdrawals go, they are also free of charge. Also, withdrawal options are similar to those of deposit. The minimum withdrawal amount for all methods (excluding the wire transfer) is $20. The minimum withdrawal amount request for wire transfer is $100. Withdrawals via credit cards take 2 to 8 business days.
Spreads, Commissions, and Fees at Trade.com
Trade.com makes a living primarily through charging you a spread. As mentioned, the spread depends on the account size, and thus, type. The more account size, the less spread you will be paying. For instance, with an account size of $100, you would get a default EURUSD spread of 3 pips. However, if your account size reached $100,000, the default spread on EURUSD would be only 1 pip.
Other than the spread, Trade.com charges a conversion fee, an overnight fee, and an inactivity fee. As they put it, “If no trading activity occurs for over 90 days, we charge a monthly fee. For inactive accounts over a period exceeding 12 months, an Annual Inactivity Fee applies”. No other trading fees apply, and as mentioned, withdrawals and deposits are free of charge.
Trade.com Trading Platforms
Trade.com offers two main trading platforms to traders. They are Web Trader, and MetaTrader 4.
Trade.com offers a simple, solid and easy-to-use Web Trader. It should be noted that it is geared more towards technical traders than fundamentalists. It does not have an extremely wide range of features, and it can be an advantage for those just starting out, or for those who value simplicity first. The initial layout is pretty basic and has the core features you would need: a chart, instrument library, watchlist, some key stats on the instrument of your choice, an event calendar, order history, and open positions.
On the technical side, a big library of 86 technical indicators is available. Also, 10 trading periods are available for traders, as well as the ability to construct Multicharts, which allows you to add up to 4 charts on your desktop window. Finally, you can set alarms which can make your trading more efficient.
A nice feature of the featured section is the ability to see various categories of stocks, by their activity. These are top risers, top fallers, top volatile, top traders trend, 52 week high, 52 week low, 7 days uptrend, 7 days downtrend, 30 days high, 30 days low.
Clients of Trade.com can additionally set up their account to be able to trade with MetaTrader 4.
MetaTrader 4 was designed specifically for Forex traders and has been out for quite a while now. It allows trading on 9 different timeframes, has 30 built-in indicators, and a very large database of free custom indicators. It is the most widely used version of MetaTrader. MT4 uses MQL4 (MetaQuotes Language 4) for its programming and algorithmic trading needs, and a very large database of ready-made scripts are available in the MT4 community.
Mobile Trading with Trade.com
The theme with Mobile trading at Trade.com is similar to their Web Trader. That is, simplicity is at the core of the mobile trading app. A nice feature is the same categories of the featured instruments you would find on their Web Trader. Top risers, fallers, most volatile, etc. Or, additionally, you can easily search or browse the instruments you want.
The main screen is most useful for creating your own favourites list and keeping track of it.
Charting on the app is very basic, you will find 10 timeframes to choose from. Additionally, you see how many traders have sold vs bought particular security.
Trade.com Additional Tools
Trade.com offers a few additional tools available to everyone. They are Economic calendar, CFD Expiration dates, and Weekly CFD expiration rollover. Moreover, additional tools will become available once you deposit money into your account. The more your account size is worth, the more tools you will get access to. For example, at account size $1,000 you will get daily morning review of the markets. Similarly, at account size $10,000 you will receive daily premium market analysis.
The most coveted option, also at account size $10,000 is, however, the Trading Central. As Trade.com puts it, “Trading Central is a leading investment research provider to financial market professionals made available to TRADE.com clients. Covering trends, pricing and market history, the technical analysis allows highly motivated traders to identify opportunities offered through the TRADE.com MT4 platform”. “Trading Central top tier technical strategies cover stocks, index, forex, commodities and fixed-income markets. The award-winning methodology is backed by time-tested indicators with chartist and mathematical approaches matching requirements of various investment styles, from intraday trading to swing trading and long term investments”.
This option not only will increase your trading potential, but also will enable you to learn from top experts in the field.
Trade.com Customer Support
Trade.com offers two ways of contact: email and live chat. Their customer support service is live on a 24/5 basis. Support is available in a few more additional languages than just English. In general, their live chat support is fast, on topic and efficient at answering queries.
Trade.com does not provide any information on their CFD trading awards. However, their DMA (Direct Market Access) platform is powered by one of the most known and awarded brokers in the industry – Interactive Brokers.
Trade.com offers a simple, yet powerful trading platform, geared towards technical traders and those with large account sizes. If you are a large trader or manage to grow your account size, Trade.com can be a very good broker for saving on those spreads. (Remember, you can save up to 66% on the EURUSD default spread by just increasing your account size). They additionally offer Trading Central, a very useful research centre which can help you in your trading immensely. Their Web Trading platform is quite basic and most suited for those searching for simplicity and an emphasis on technical analysis. This could also be a good opportunity to start trading for beginners, as it isn’t as complex as MetaTrader 4 or other Web Traders by other brokers. All in all, Trade.com offers a simple platform, with great potential.
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HIGH RISK INVESTMENT WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.36% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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