History and Background
The forex industry has witnessed many innovations in recent years, binary options and social trading, to name a few, but now Trade360.com has made a major move ahead of the pack by designing an entirely new genre of trading capabilities. Relying on what has been termed the “Wisdom of the Crowd” phenomenon, this creative management team of industry professionals has crafted a set of advanced analytical tools that produces tradable information by using this new age concept. Trade360 has dubbed their unique service “CrowdTrading”, and it does take the trading of currency pairs and CFDs to an entirely new level. Imagine gaining insights from crowd behavior before the crowd even realizes it,
and then you have Trade360 – “Where Wisdom of the Crowd meets Trading”.
Trade 360 is a trade name of MPF Global Markets Ltd, authorized and regulated by the CySEC with license number 202/13. The company, founded in 2013, is headquartered in Limassol, Cyprus, has offices in the UK, and is furthered sanctioned by regulatory bodies across both Europe and the British Isles. The unique concept that forms the core of Trade360’s innovative offering is based on recent studies that suggest that crowd behavior, if analyzed correctly, can reveal trends at work before they are evident in the marketplace. The tools developed are proprietary, but they measure rates of change in sentiment versus other indicia that, when taken as a whole, suggest better-than-average forecasts of future results. The firm is quick to note that they are not giving management advice. Traders can review their indicators and then make their own judgments.
As a relatively new financial services firm in Cyprus, Trade360 falls within the newer and stricter operating guidelines issued by CySEC. Client deposit protection and better execution standards are just two of the many new benefits of enhanced regulation. Aside from ample regulatory compliance, the firm offers a broad range of asset choices, nearly 120 that includes forex, commodities, stocks, and indices. You may elect an asset and insert an amount to invest, and then the system takes over. Items do have expiration periods of up to 60 to 90 days, and margin calls can happen, if you are not careful. Once a position is established, your account will reflect a spread deduction, depending on the asset chosen and the amount of leverage employed. You can opt out of a position at any time before the expiry date. CrowdTrading data are conveniently displayed, along with open positions, so that quick changes can be made instantly. Unfortunately, U.S. customers are not accepted at this time.
Why trade with Trade360com ? The firm lists these reasons:
- Founded in 2013 by industry professionals from all disciplines;
- UK presence and headquarters in Limassol, Cyprus;
- Regulatory compliance across Europe – Primary regulator is CySEC, but MiFID and FCA standards apply, as well;
- Client deposits are segregated from operating capital and protected by national investor protection programs;
- Minimum deposit = $450
- Single account category with “Practice Mode” (Islamic account on request);
- Trading platform is totally online – complex downloads are not necessary;
- Mobile application is also available;
- Asset choices span the most popular items in today’s market – Forex (40), Commodities (6), Indices (15), and Stocks (58);
- Leverage and spreads vary by asset choice, up to 200:1 for currency pairs, Gold, Silver, and Crude Oil (The potential for a margin call exists, which may result in the closure of an open position);
- Scalping permitted, but only after a one minute threshold on each position;
- General market analysis, trading ideas, complimentary ebook and platform training guide, and technical account support team provided;
- Innovative CrowdTrading tools alert you to trading opportunities in real time;
- Bilingual customer support and website displays in multiple languages.
Spreads and Leverage
Leverage amounts and spreads vary by asset choice. For example, currency pairs, Gold, Silver, and Crude Oil can have leverage up to 200:1, but some stocks and indices may only be allowed 20:1. Spreads also vary and may not appear to be the tightest around, but the additional overhead to run and produce the CrowdTrading protocols must come from spread revenue, the only cost assessed for the services of the firm.
In order to support their innovative CrowdTrading tools, Trade360 developed their own proprietary trading platform that is completely online. No complicated downloads are necessary. System alerts of potential trend formations are easily seen, as the popularity of the crowd shifts and changes. If you are addicted to Metatrader4, you may have to go elsewhere, but if you are addicted to trading anywhere “24X7”, then you will like this firm’s mobile app. If your device can access the Internet, then you can trade. Peace of mind is also assured, since all personal and trading session data are encrypted for security purposes using the latest 128-bit SSL technology.
Deposits and Withdrawals
Trade360 also supports a broad range of deposit methods, including major credit or debit cards, ewallet services, banking wire transfers, or a host of other local payment alternatives. A $450 deposit is all that is required to get started. Be sure to send in your AML identity information (the site explains the three types of information that are mandated by international law). Making a withdrawal can then be handled quickly without any delays due to cross-border payment restrictions.
Beginners’ and Customer Support
If you have any problems at all with registration, set up, or accessing the many helpful guides, then Customer Service personnel are there to serve you during every trading day. Trade360’s unique product and service offering is different, so do not be shy to ask questions to fully understand their CrowdTrading approach. Trade360 also provides training ebooks for beginners, market commentary and analysis, and trading ideas generated by the system. The firm is required by law to tell you that they are not in the business of giving investment advice or account management services, but it does its best to enhance your personal decision-making process by supplying timely analytical clues as to where trends may be heading. The rest is up to you.
The management team at Trade360 is confident in their mission, as stated on its website: “By enabling our Traders to examine the movements and behaviour of the collective in real time, we empower them to better recognise market trends.” Their unique value proposition is also supplemented by a broad selection of asset choices, an intuitive trading platform, and the assurance of regulatory compliance by some of the best in the business. If you want to benefit from a firm that provides the latest in analytical insights, powered by leading edge thinking, then Trade360 may be worthy of your consideration.