First of all, our Law Firm specialized in financial fraud is made up of a team of European experts familiar with European, French and Cypriot legislation. Based on different specific laws and European legislations, our legal experts aim to help Forex victims to recover their lost funds. We strive to keep you informed about the threats that may remain on Forex-type trading platforms. In this article, we want to give you our opinion on the Trade360 broker.
I / What is Trade360?
Trade360 is a broker headquartered in Limassol, Cyprus. It was founded in 2013 by a group of experienced traders. Trade360 is the commercial name of Crowd Tech Ltd. The company is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 202/13, and headquartered at 116 Gladstonos, M. Kyprianou House, 3rd and 4th Floor, 3032 Limassol, Cyprus . The company is also authorized and regulated by the Australian Securities and Investments Commission (ASIC) in Australia.
IMPORTANT: It should be clear that most of our clients are against Cypriot brokers.
The broker provides classic trading services on different markets for example commodities, indices, stocks, forex etc … Trade360 also offers you many personalized analysis tools such as:
- Mobile platform
- Trading Central
Trade360 distinguish itself from other brokers with the display of real-time positions from other traders in the online brokerage community. This unique service called CrowdFeed allows you to consult the views of other traders on the platform.
Trade360 offers six main account types:
Trading conditions, including spreads and leverage, largely depend on the account type and asset class. As with EverFX, the minimum deposit is $ 250, which is a significant amount for beginners. Note that some of their competitors offer lower deposit minimums.
As we said, Trade360 is generally recommended for beginners. This is why, Trade360 decided to set up a trading simulator to teach users how to trade online. In our opinion, the Trade360 broker tries to put you at ease by offering you free services at the start.
To continue to give you confidence, the payment methods are broad in order to have as many users as possible on the platform. Trade360 apparently does not charge commissions when withdrawing, except for those of your bank. In addition, PayPal is not available with Trade360.
Also, on their website, Trade360 shows you the permissions and regulations they have like CySEC or ASIC. In Australia, Trade360 has another legal name: Sirius Financial Markets Ltd.
Additionally, in order to give you confidence in their practice, the broker claims to have been awarded several prizes.
II / Who is Trade360 for?
As we mentioned above, Trade360 is a broker that can adapt to a variety of different trader profiles. However, we believe that Trade360 will be more suitable for novice traders. In fact, due to the function of social trading, the broker offers training to teach users to trade. You can even use the Bitcoin Trader trading robot (a free robot to practice). Trade360 apparently seems within reach …
Actually, it’s supposedly easier to understand the direction of the market by looking at the trading decisions of other traders. This information does not guarantee the success of the trade, but it is a great help for novices who do not know which asset to transfer after opening the trading platform.
As a result, the Trade360 broker will invite you to use the copy trading function, which makes it possible to plagiarize the positions taken by the experts and improve their expectation of profit. Unfortunately, if the intentions of the experts turn out to be bad, you can lose a lot of money.
The fact that these services are free can convince more than one person because it can be considered as a guarantee of quality. However, it is important to understand that other experts in trading platforms offer you paid training, which is generally expensive. We advise you to check all the conditions of this free of charge which also applies for EverFX.
III / Trade360 customer reviews
In order to better understand the world of the Trade360 broker, we have selected some reviews on this broker. When searching for opinions of traders who have chosen the Trade360 broker as their trading platform, we found 487 comments on TrustPilot. Of the 487 reviews, 35% indicated a bad comment about the Trade360 broker.
Obviously, comments can be falsified, which is why we ask you to take a step back. Therefore, we have tried to take into account the latest reviews on the TrustPilot website.
“Broker to avoid absolutely
I just want to inform you and most of all to warn you that you should absolutely avoid this trading platform. For starters, an extremely deceptive advertisement that promises you huge profits. Then, a deceptive welcome from someone who makes you believe that he will always be available to you. But once the phone is closed and the first deposit is made, it is almost impossible to have anyone to assist. And when you manage to call him on the phone, the other party is very cold, they tell you that your advisor will call you during the day, but he never calls you.
The first time your advisor calls you, he will do anything to make you deposit the maximum amount of money, promising you miracles. This makes you take positions without a stop loss, and he continues to ask you to deposit more money, luring you with their famous bonus. No sense in telling you now – I don’t wanna ruin the surprise. Often even when you set a stop loss, it breaks and you lose a lot more. It is then explained to you that this is normal and is called “slip”. Sometimes, when checking the value of shares on official sites, the value of their platform is completely different, not to mention the computer errors that make you lose huge amounts of money. So … I had 2 different advisors in a month and they don’t even give you time to talk, they tell you to act fast and they don’t know what to do … Their only goal is to make you deposit as much as possible. lots of money. They “force”, put pressure on you and even make the transfer for you. I was even overdrafted on their fault with huge bank fees. And when you try to get them on the phone, you can’t. And other problems … One tip: run !!! For my part, I started a refund procedure and I would get to the end … even to the regulator …
Date of the experience: May 19, 2021 – 1 out of 5 stars “
As you can see, Trade360 reviews range between 5 out of 5 stars and 1 out of 5 stars, these are two opposites. We can assume that there are false opinions as well.
However, we can understand that large sums of money are lost overnight. Also, we understand that these are people working for Trade360 calling on traders to either spend more money, or put their money in other positions, even harassing them. We also have the opposite case, where novice traders face themselves without any help, although Trade360 indicates help for newbies.
IV / Our opinion on Trade360
Our point of view on Trade360 is clear. We warn people who wish to invest in trading platforms through Trade360 brokers. Indeed, even if everything indicates that it is a regulated broker authorized in the different countries in which it operates, we have noticed that the perception of the latter is increasingly negative.
Can we say that Trade360 is a scam? No, since there is no official evidence such as the AMF press release against Laurent Chenot (put the link to the article). However, as a network of law firms specializing in financial fraud, we urge you to be mindful of your investment and the advice you may get from it.
If you have any questions about Forex-type trading platforms, please do not hesitate to contact us for further information.
Cysec website – https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/37636/
Trustpilot website – Trade360 review – https://trustpilot.com/review/trade360.com
Cryptonaute website – Article & Review on Trade360 – https://cryptonaute.fr/trade360-avis/
Actufinance website – Article & Reviews on Trade360 – https://actufinance.fr/courtiers-en-ligne/trade360-avis/
Online Trading Website – Article & Reviews on Trade360 – https://tradingenligne.fr/broker/trade360-avis/
ASIC website – https://asic.gov.au/
Trade360 website – https://www.trade360.com/
Opencorporates website – https://opencorporates.com/companies/au/142189384