Trade360

Trade360 clients in Malaysia will be trading under the global portal operated by ST Services Ltd in the Marshall Islands.   The registration in the Marshall Islands means that Trade360.finance is essentially unregulated and no supervision of any CFD trading-related activity occurs through this entity.  Clients must therefore rely solely on the reputation of Trade360, as no additional measures exist to ensure client protection.

Trade360 segregates all funds from the company’s operating capital at top-tier banks, and while it does not offer its clients negative balance protection, the company uses a set of margin warning tools that prevent clients from entering into a negative balance.

Trade360 is a market maker broker, where the broker is the market and always trades against its client base. There is nothing unsafe about trading with market maker brokers but a conflict of interest can exist between the broker and trader, where one party profits from the other’s loss, which can be unnerving for some.

Trade360’s account-opening process is easy and accounts are available for trading immediately.

Malaysian traders can open an account at Trade360, but need to meet the minimum deposit requirements of each account to do so:

• Mini Account: 250 USD/EUR/GBP
• Standard Account: 1000 USD/EUR/GBP
• Gold Account: 5000 USD/EUR/GBP
• Platinum Account: 10,000 USD/EUR/GBP
• Diamond Account: 50,000 USD/EUR/GBP
• VIP Account: 100,000 USD/EUR/GBP

Trade360 offers both corporate and individual accounts, but we will outline the process for opening an individual account:

1. Register an account.  This can be done by clicking on the “Register Now” button.  Traders are required to fill in their personal information (name, email address), and create a password.
2. Traders will then be taken on a tour of Trade360’s Crowdtrading platform.  
3. The next step is to make a deposit.
4. Once a deposit has been made, clients will have to take an Appropriateness test.  This is a responsible move on the part of the broker in an industry that is often accused of an irresponsible approach to consumer safety.  
5. Once the trader passes the Appropriateness Test, they are able to choose their account type, leverage, and preferred platform.  
6. The next step is to confirm your identity.  Trade360 will need two documents from you:
   1. A photo ID (passport, driver’s license, or national ID card) and; 
   2. A secondary ID (a bank or utility statement with your full name and address dated in the last three months).

We advise you to read Trade360’s risk disclosure, customer agreement, and terms of business before you start trading. 

Overall, Trade360’s account-opening process is quick, efficient, and accounts are generally ready for trading immediately. 

Trade360’s trading costs are built into the spread, which is variable and gets wider or tighter depending on trade volume and market volatility.  

Spreads are significantly wider than average at Trade360. The average cost for trading one lot of EUR/USD among similar brokers is about 9 USD per lot. As you can see from the table above, this is not achievable on any of Trade 360’s accounts.  Additionally, the minimum deposit requirements on most accounts are prohibitively expensive.

Swap Fees

The other main trading cost to consider is the overnight swap fee. This is charged on trades held open overnight and is derived from the difference between the interest rates of the two currencies being traded. Trade360’s swap rates are published on its website for each financial instrument. Trade360 charges swap fees of 3.75 USD on the EUR/USD for a long position, and 0.036 USD for a short position.

Account Trading Costs:

We opened and tested several of Trade360’s accounts:

Mini Account

The Mini Account is Trade360’s entry-level account with a minimum deposit of 250 USD and extremely wide spreads starting at 4.00 pips on the EUR/USD.  The Mini Account does not support MT5, but it does give you access to the live CrowdTrading feed, customer support, and trading signals.

Standard Account

The Standard account requires a minimum deposit of 1,000 USD.  Variable spreads are extremely wide compared to other market makers, starting at 3 pips on the EUR/USD.  Support is offered for the MT5 platform and the live CrowdTrading Feed.

Gold Account

With a minimum deposit of 5,000 USD, spreads tighten to 2 pips on the EUR/USD (which is still much wider than the industry average), and clients can trade on the MT5 and Crowdfeed platforms and receive access to trade signals and exclusive market updates.

Platinum Account

The Platinum account requires a minimum deposit of 10,000 USD, variable spreads start at 2 pips on the EUR/USD (which is no different from the Gold Account), and clients can trade on the MT5 and CrowdTrading platforms.  As with the Gold account, traders receive personal push and SMS notifications and exclusive market updates.

Diamond Account

Trading conditions are the same as the Gold and Platinum Accounts (spreads start at 2 pips on the EUR/USD), but a 50,000 USD minimum deposit is required on this account.  However, spreads are tighter on other assets (including commodities, indices, and stocks).

VIP Account

The VIP account requires a minimum deposit of 100,000 USD, and spreads for this account are still wide – at 1.8 pips (EUR/USD).  The spreads on the top-tier commission-free accounts at other good brokers tend to be around 0.7 pips (EUR/USD).  In addition to the account as mentioned above benefits, traders will receive access to a personal account manager.

Demo Account

At Trade360, prospective clients can register for a demo account to try out the platform. The demo account does not require a deposit, and clients receive a virtual bankroll to explore the different trading products available.

Like most other brokers, Trade 360 offers mobile versions of both its platforms – the CrowdTrading platform and MT5.

The award-winning CrowdTrading app is available for Android and iOS and provides all the same features as the desktop version.  Clients can change leverage, check out an asset’s volatility, and access various technical analysis tools, including Trading Central. It also has a live chat feature and a position simulator.  Overall, clients find this mobile app easy to use and understand.

MT5 is also available on Android and iOS.  Traders should be aware that there is some loss in functionality when compared to the desktop trading platform, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.  

Trading Platform Comparison:

Trade360 uses its own online proprietary trading platform, which supports its CrowdTrading Tools – this is available online and as a downloadable app for iOS and Android.

Support for MT5 is also offered, though it is not available on the Mini Account – so it will be out of reach of many beginner traders.

CrowdTrading Platform

Trade360’s CrowdTrading environment is comprised of two main elements: CrowdFeed, a live, real-time feed of market events, and a sentiment indicator that shows how the masses of online traders are reacting. The platform remains at the core of Trade360’s unique offering.   

CrowdFeed is a live feed showing major market events and ongoing asset-related trends. Each event includes buy/sell percentages for an asset plus information comparing the current market action with the norm.  Irregularities are highlighted, enabling the trader to immediately see the event and evaluate its cause and outcome. Additionally, the unique CrowdTrading Sentiment Indicator appears alongside each asset, gauging the buys and sells in the system at any given moment.

CrowdFeed essentially attempts to capitalize on cognitive research, exploring the possibility that a crowd will make better choices than individual experts. Although this may be an advantage for beginner traders who may be learning the ropes of CFD trading, traders should be aware that 67.83% of traders still lose money with this broker, which is essentially on par with well-established brokerages that deliver in-house research by seasoned professionals.

Metatrader 5

Continuing its predecessor’s reputation (MT4), the MT5 platform provides traders with everything they need to trade the financial markets.  It incorporates all of the key features of MT4 and an optimised environment for EA trading. Features include 38+ preinstalled technical indicators, 44 analytical charting tools, three chart types, 21 timeframes, additional pending order types, detachable charts, trailing stop, Depth of Market, and an integrated Economic Calendar.

The benefit of Trade360 offering a third-party platform such as MT5 is that traders can take their own customised version of the platform with them should they choose to migrate to another broker.  Additionally, there are thousands of plugins and tools available for the MetaTrader platforms.  

Trade360 does not charge deposit or withdrawal fees, and while deposits are generally instant, withdrawals are only processed within three business days and can take up to 14 days to reach your bank account, depending on the withdrawal method.

Unfortunately, there is not much information regarding deposits and withdrawals on Trade 360’s website, which is not consumer-friendly.  For example, it doesn’t specify details about any of the payment methods.  

See below for a list of funding methods, charges, and processing times:

Trade360 offers three base currencies, which is limited compared to other brokers, and Malaysian traders will also be disappointed that there is no MYR trading account option.

At Trade360, traders can only choose from three base currencies: USD, GBP, and EUR. This is limited compared to most other international brokers, who sometimes have accounts denominated in up to 10 base currencies. It is also disappointing for Malaysians who will likely have bank accounts denominated in MYR and will have to pay conversion fees on all deposits and withdrawals.  Conversion fees can make trading expensive, and are usually not presented on the fee report, but affect profitability

For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with an MYR account, there will be a small conversion fee for every trade made.

Trading Central is provided free to all account holders at Trade360.  Trading Central amalgamates automated AI analytics with the investment advice of registered expert analysts worldwide who maintain a watchful eye over fundamental, technical, news, and sentiment developments. The company maintains 24-hour global coverage so as to place the next set of signals within a holistic framework, thus providing the best of all possible worlds.  Overall, Trading Central is an excellent analysis tool, and Trade360 does well to offer this to its clients.  

Trading Tools Comparison:

Compared to other large international brokers, Trade360’s market analysis materials are severely limited.   

Trade360’s market analysis materials consist of two sections: The Financial Market News (which is only updated once a week) and a Daily Market Report.  The Daily Market Report content is provided by Trading Central, a third-party research provider.   

The educational content at Trade360 is limited to a glossary of terms.

Educational Material Comparison:

For the purposes of this review, we found the customer support responsive and knowledgeable.