Trade.com is one of the many brokers out there that have a reputation issue as there are a lot of debates on trading forums regarding a trade.com scam business. Is this true, though?
Trade.com Broker Review: What does the company represent?
The first impression judging by the information to be found on the company’s website is that the broker is regulated by the CySEC, so this should be on the plus side or positive side. So is trade.com legit as a business? From a regulation point of view, it seems so.
trade.com Broker: Trading accounts offered
There are multiple possibilities for opening a trading account with trade.com, and the most popular one seems to be the Classic one because the minimum amount to be deposited is only $250.
Unfortunately, the other types of real accounts are quite prohibitive as the minimum amount is jumping ten times for the Standard account and all the way to forty times for the Premium one.
This is a big negative as traders are forced to accept poor trading conditions only because Standard and Premium accounts are difficult to access.
Of course, that for the minimum amount required for the Classic account, daily analysis and premium customer support is not offered. I would say that this is a must, at least when it comes to the dedicated customer support as there should be no difference from that point of view between customers based on the amount used to fund a trading account.
Sign-up with trade.comtrade.com Reviews: Trading Platforms Offered
As a trading platform the classical Metatrader is offered, and the trade.com login, therefore, can be made after an account is opened and credentials are received per email. Also, the verification process should be passed, so all of all standard, not exceptional conditions from a trading platform point of view.
While the Metatrader is indeed a very good trading platform, what I would have loved to see here is a trading platform developed by the broker, tailored to specific client needs, therefore a trading platform to offer a competitive advantage, an edge over other brokers. Unfortunately, it is not the case.
For accessing the trading account from a mobile device, the Metatrader app should be downloaded and with the login data provided, access to the trading account is granted.
The web trader solution seems to be slow and poorly designed, not keeping the pace with the latest updates in the digital word, so not recommended for the actual trading especially if there is a slow Internet connection.
trade.com: Deposits and Withdrawals
Deposits can be made via credit cards, and the amounts will be automatically credited to a trading account, but also Skrill and Neteller are present.
Unfortunately, there is no information (or at least not easy to find information) regarding withdrawal of funds, so any trade.com review will use this issue to add to trade.com scam complains. This only comes to fuel some more uncertainties regarding the safety of the funds and withdrawal execution. However, given the fact that the broker is regulated, probably safety is granted, even though there is no information regarding funds segregation.
Open Account at trade.comtrade.com: Customer Support
Customer support, on the other hand, seems to be one of the strengths of the company as support in multiple languages is offered as well as a live chat button on the top left corner of the homepage.
From this point of view, the trade.com broker offers many possibilities for getting in contact with so solving an issue will most likely not be a big problem. However, it is one to offer many customer support possibilities and options, and another one to solve the issues one might have.
trade.com: Opening an Account
For opening a live trading account with the trade.com forex broker, there are no less than four steps to be followed before one can start trading. This is a longer process when compared with other brokers and a negative from this point of view.
Competition is pretty aggressive from this point of view as the easiest it is to access the market, the more appealing that broker will be for the overall customer. If the process is a lengthy one, most likely potential clients will turn their attention to other brokers where time to open an account is not that long.
trade.com Review Conclusion
In conclusion, there positives and negatives are almost balanced, with more uncertainties on the negative side, though, and therefore caution should be taken before trading with this broker. In light of these issues, at least an incentive should be offered like a trade.com bonus, so traders will be attracted to opening a live account. However, no bonus is offered at present. Until it is, again, caution should be taken before trading with this broker.
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