Trade360
Trade360 is a brand name of MPF Global Markets Ltd, a Cyprus-based financial company that is regulated by the Cyprus Securities and Exchange Commission (CySEC).
The broker offers more than 200 trading instruments distributed into currency pairs, shares, indices, commodities and ETFs.
Customers can trade through Trade360 web-based platform (a version of ParagonEx), its mobile application for iOS and Android devices as well as a desktop version of widely used MetaTrader 4 (MT4). MT4 provides some useful tools such as automate trading and more than 50 technical indicators.
Trade360 is intended for both advanced and beginners. There are six types accounts that differ mainly in the minimum deposit amount and minimum trading volume:
- Mini (USD250 minimum deposit and USD5,000 minimum trading volume, no available for MT4);
- STANDARD360 (USD1,000 minimum deposit and USD10,000 minimum trading volume);
- GOLD (USD5,000 minimum deposit and USD50,000 minimum trading volume);
- PLATINUM (USD10,000 minimum deposit and USD100,000 minimum trading volume);
- VIP (USD50,000 minimum deposit and USD500,000 minimum trading volume);
- Islamic account could be requested additionally.
SMS trading signals, exclusive market updates and personal SMS notifications are available on Gold, Platinum and VIP accounts.
The maximum leverage is 1:400 applicable in forex trading and this could increase the risk of loss. However, there is negative balance protection and clients cannot lose more money than they have in their account.
The company’s Terms and Conditions document informs that pending orders (including stop loss orders) are often executed at the requested price but if this price is not available in the market (high volatility or low liquidity), they will be executed as market orders (at the first available market price). This means stop loss orders are non-guaranteed and the real losses could be greater than projected. The document also shows slippage exits.
Trade360 acts as an agent and transmits all the client’s orders to its liquidity providers (Straight-through processing or STP). That means Trade360 is not a market maker and derives its profit as fixed share of the spread, regardless of client’s losing or winning deals. Customers should know Trade360 charges a fee of USD50 every three months for account maintenance.
The company offers its own kind of financial service called CrowdTrading that provides people’s opinion about expected movements of the assets through the platform feature Live Feed. It is constantly updated so that clients can view other traders’ actions and decide when and what position to open and close.
