Unique Selling Points
1. Efficient Execution: Trading.com's emphasis on advanced technology enables traders to swiftly execute orders, encompassing market, stop, and limit orders. The platform highlights substantial investments in technology, aiming to offer the highest quality execution within the market.
2. Simplified Registration: Contrary to the often time-consuming registration processes of many FX brokers, Trading.com prioritizes simplicity. The platform streamlines the registration procedure, aiming to reduce the time required. By ensuring that the provided information is truthful and accurate, the registration process on Trading.com can be completed in just a matter of minutes. This swift registration experience facilitates quicker access to trading activities.
3. Demo Account Option: Recognizing the importance of practice before active trading, Trading.com offers the option to open both "Real" and "Demo" accounts. This choice empowers traders to opt for the account type that aligns with their comfort level. The availability of a demo account provides an excellent opportunity for individuals to become familiar with the trading options available on the platform before engaging in live trading.
Introduction
Trading.com firmly believes in making it easy for everyone to access financial markets. Whether you're new to trading or experienced, the platform is all about being fast, clear, and easy to use.
The company's vision, found on its official website, is about always changing and coming up with new ideas. Their main goal is to meet the needs of all kinds of traders today. Originally from the UK, this company used to be called XMUK until 2019. Then, it became Trading.com.
Trading.com is confident about helping with trading in different things like currencies, precious metals, and Contracts for Difference (CFDs). They also deal with stocks, commodity futures, and energy. The platform works hard to keep prices fair and clear by working with others who provide trading options. These partners aren't named, but the platform still says it's a leader in the market.
One great thing about Trading.com is that they want trading to be possible for all sorts of traders. They offer more than 1,200 different things to trade. These include lots of different types of assets, and they're available in different markets. This Trading.com review will look closely at what it offers on its trading platform.
Supported Countries
Trading.com maintains its clientele exclusively within the borders of the United Kingdom. This geographical confinement, however, inevitably restricts access for individuals from diverse international backgrounds. Such limitations are particularly noteworthy when compared to the practices of numerous other forex broker platforms, which often extend their reach to encompass a global audience.
This exclusive focus on the UK market arises as a result of regulatory shifts and the fallout of Brexit. In response to these changes, Trading.com has opted to curtail the opening of new accounts for residents hailing from various European nations. This ensures the company can navigate the changing landscape of financial regulations while ensuring compliance with legal frameworks.
Customer Service Rating
On Trustpilot, Trading.com has a total of 6 reviews and an average score of 3.4 stars out of 5. People say good things about the platform, like how it's easy to use for trading. They also like the helpful customer support. Some reviewers mention the platform's useful tools, fast trading, and good customer service.
But there are also some not-so-good reviews. Some traders say the platform didn't let them make as much money as they expected. Others complain that the platform didn't follow through on promised bonus deals for new users. Some people also had issues getting their documents approved on time, and in a few cases, the platform didn't accept the documents they provided.
Trading.com Forex Trading Platforms
In terms of trading platforms, Trading.com exclusively offers the MT5 trading platform. This means that traders using this brokerage have limited options for choosing a trading platform since MT4 and in-house platforms are not available.
MetaTrader5: The Trading.com MT5 platform grants traders direct access to over 1,250 markets. This platform enables trading in Forex, CFDs, Stocks, Indices, and Metals all in one place. With no instances of re-quotes or rejections and adjustable leverage, traders have flexibility at their fingertips. The MetaTrader 5 (MT5) Web platform allows traders to access Forex, exchange, and futures markets using any internet browser and operating system. Simply with an internet connection, users can dive into the trading world. MT5 offers advanced features like Market Depth, tick chart, and Time and sales data, providing a comprehensive market overview. For thorough price analysis and predictions, MT5 equips traders with a wide range of analytical tools. The platform can support up to 100 charts, making it easy to monitor different financial instruments. MT5 offers 21 timeframes, from one minute to one month, and over 80 built-in technical indicators for detailed price analysis. This platform is available on Trading.com for iPhone and Android and as a web trader for PC and Mac users.
Type of Trading Accounts on Trading.com
By promoting a streamlined trading experience, Trading.com asserts its commitment to simplifying market access through a single account.
The Ultra-Low Account: This account type presents traders on the Trading.com forex broker platform with a comprehensive solution. Requiring a minimum deposit of $5, this account supports various base currencies, including EUR, USD, GBP, CHF, AUD, PLN, and HUF. It adheres to regulatory norms with a maximum leverage of 30:1. Major currency pairs are traded with an average spread of 0.6 pips. Notably, the Ultra-Low Account of Trading.com doesn't involve any commission, fostering a cost-free trading environment. Additionally, traders benefit from Negative Balance Protection, safeguarding trades. The account offers hedging options and provides an Islamic Account tailored for Muslim traders.
Trading Denominations on Trading.com
At Trading.com, clients are granted the freedom to select their preferred currency denomination from a diverse range of options. These options encompass widely recognized currencies such as EUR, USD, GBP, CHF, AUD, PLN, and HUF. This flexibility ensures that clients can engage in trading without encountering any constraints related to currency denomination.
Company Structure
Operated by Trading Point of Financial Instruments UK Limited, Trading.com is based in London, England (Registration No. 09436004), with its main office located at Coppergate House, 10 Whites Row, Spitalfields, London, E1 7NF. The platform maintains a fee structure where there are no separate commissions for trading; instead, the broker's service fee is integrated into the spread, which remains at a low level. Additionally, Trading.com does not impose fees for depositing or withdrawing funds.
Trading under the Trading.com brand since 2019, the broker exclusively serves UK citizens as its clients. Adhering to a policy that prohibits requotes and hidden fees, the platform employs an automated system to oversee financial transactions and manage risks to prevent negative balances in clients' accounts.
However, the broker's website lacks the display of prominent awards and recognitions, raising questions about its standing within the industry. The absence of showcased awards draws attention since traders consider awards in the industry a sign of credibility.
Trading.com Forex Licenses and Regulatory Compliance
Regulated by the United Kingdom's Financial Conduct Authority (FCA) under license number 705428, Trading.com attains a heightened level of credibility. The British FCA is widely acknowledged as a leading regulatory authority in the financial industry, further bolstering the broker's legitimacy.
Trading.com Customer Protection
Trading.com stands as a regulated entity that is held to stringent industry standards, ensuring it prioritizes the safety and security of its traders. The broker employs a range of client protection measures, including:
Membership within the Financial Services Compensation Scheme.
Utilization of an automated system for monitoring funds transactions and risk management, safeguarding against negative balances and protecting clients from losses exceeding their initial investments.
Implementation of multiple secure transaction methods for fund withdrawals and deposits, employing Secure Socket Layer (SSL) technology to ensure transfer security and client privacy.
Adherence to the investor protection measures outlined in the Markets in Financial Instruments Directive (MiFID).
Implementing clear procedures to categorize clients and evaluate their investment suitability enhances risk management.
Adherence to the best execution policy, ensuring trading orders are executed on terms most favorable to clients.
Provision of trading transparency through comprehensive information about trading conditions for financial instruments.
Collaboration with various liquidity providers to maintain tight spreads and strive for optimal pricing at all times.
Commitment to a no-quotes and no extra commissions policy to prevent any negative impact on clients' investments.
By implementing these strategies, Trading.com showcases its dedication to client protection and adherence to market integrity.
Customer Service
Trading.com showcases a committed support team, available around the clock, five days a week, to offer assistance to traders. This assistance is readily accessible through various communication channels. Notably:
A dedicated phone line, reachable at +44 2031501500.
The option to send a fax through +44 2038629869.
A Live chat feature on the broker's official website.
The alternative of reaching out via email at [email protected].
Trading.com features a comprehensive FAQ page for traders seeking instant solutions that address common queries.
Trading Information
At Trading.com, you can trade from Sunday at 22:05 GMT until Friday at 21:50 GMT. The platform offers easy ways to trade like just one click. You can also use automated tools, scripts, scalping, and news trading.
Trading.com presents an extensive array of more than 1,250 trading instruments; all facilitated through the robust MetaTrader 5 terminal. Traders can access leverage spanning from 1:1 to 1:30, with adjustments limited due to regulatory requirements.
This platform focuses on making trading easy. The starting spreads are low, just 0.6 PIPs. Interestingly, Trading.com doesn't ask for commissions and uses flexible spreads. This helps keep costs down and gives traders good prices and execution chances.
When it comes to rollover, Trading.com uses swap contracts. These can either cost traders money or give them gains. It's cool that Trading.com is fast at getting orders done – they do more than 99% of orders in less than 1 second. One great thing is that they don't do re-quotes or rejections. This makes trading faster and more reliable.
Tradable Instruments
Trading.com extends its clientele the opportunity to engage with a diverse selection of financial instruments, including:
Forex
Stocks
Commodities
Indices
Metals
Energies
It's important to highlight that the platform does not offer cryptocurrency trading as part of its available options. This assortment of tradable assets presents traders with a comprehensive spectrum to explore within the trading environment provided by Trading.com.
Trading.com Forex Leverage
Traders engaging with Trading.com are provided with a maximum leverage of 30:1. This aligns with the regulatory norms set forth, serving as a protective measure for traders within the platform.
Deposits and Withdrawals
Deposits
Trading.com accommodates a diverse array of popular payment methods, catering to trader preferences. These include multiple credit card options, various electronic payment methods such as Skrill and Neteller, as well as both bank wire and local bank transfers.
If a trader chooses to deposit funds in a currency different from their account's base currency, Trading.com will automatically convert the amount to the base currency at the prevailing interbank rate. Deposits are usually processed instantaneously, excluding cases of bank wire transfers, which may take longer.
For deposit-related matters, it's noteworthy that Trading.com does not levy fees, except for deposits of less than 200 USD facilitated through international bank wire transfers. It's important to mention that third-party deposits are not accepted by Trading.com, emphasizing the need for deposits to originate solely from the trader's account.
Withdrawals
Trading.com extends the same range of withdrawal options as it offers for deposits, streamlining the process for clients. When it comes to withdrawals, the platform adheres to certain principles. Withdrawal requests are processed using the currency of the initial Deposit. These requests are usually completed within 24 working hours, with traders typically receiving their funds within 2 to 5 business days. It's vital to note that withdrawals are limited to the user's account and cannot be routed to a third-party account.
To ensure security and prevent fraud, as well as to mitigate potential risks of money laundering or terrorist financing, Trading.com exclusively processes withdrawals or refunds to the original deposit source. Furthermore, the withdrawal is executed using the same method as the original Deposit. This systematic approach ensures a cohesive and secure withdrawal process for Trading.com clients.
Trading.com Trading Education and Training
The provision of trader education on Trading.com appears to be rather limited. Despite the platform's inclusion of a designated tutorial section labeled "Learn," this section lacks substantial useful content. However, there is a valuable FAQ page that proves beneficial, especially for newcomers exploring the platform.
To aid traders, Trading.com offers an Economic Calendar and Forex Calculators. Looking ahead, the brokerage firm has plans to enhance its educational offerings. It intends to introduce a Glossary and a Trading Guide page aimed at bolstering its clients' educational resources. This upcoming expansion signifies the platform's commitment to improving the learning experience for its traders.
FAQs
Is Trading.com Forex a Scam?
Trading.com is regulated by the Financial Conduct Authority (FCA) of the United Kingdom, operating under license number 705428. The FCA is recognized as a reputable regulatory body within the financial industry, adding credibility to Trading.com operations. The mixed feedback from Trustpilot reviews reflects the diverse experiences of users. While positive reviews validate its authenticity, negative feedback emphasizes the need for cautious decision-making.
How do I open a Trading.com trading account?
Opening a trading account with Trading.com is a straightforward process. To initiate this process, follow these steps:
Begin by navigating to the official Trading.com website.
Look for the "Open Account" button prominently displayed on the website's homepage. Click on it to start the account creation process.
You'll be directed to a registration page where you'll need to enter your details. This usually includes your name, email address, phone number, and other relevant information.
As part of the regulatory requirements, you'll likely need to provide identification and proof of address documents. This can include a copy of your passport, driver's license, or other government-issued ID and a recent utility bill or bank statement.
Review and agree to the platform's terms and conditions, including any relevant risk disclosures and agreements.
Trading.com may require you to complete a verification process. This could involve uploading your identification documents and answering additional security questions.
Once your account is verified, you'll need to fund your trading account. Different account types have varying minimum deposit requirements, so check this information beforehand.
With funds deposited in your account, you can start trading. You can access the trading platform, explore available instruments, and execute trades based on your trading strategy.
Conclusion
This comprehensive Trading.com Forex broker review shed light on the platform's various aspects. Trading.com offers the MetaTrader 5 terminal, enabling traders to access over 1,250 trading instruments across Forex, stocks, commodities, indices, metals, and energies. However, it's important to note that cryptocurrency trading is not supported.
The platform's availability is limited to clients within the United Kingdom, adhering to regulatory requirements. Trading.com boasts of the Ultra-Low Account with a minimum deposit requirement of $5, catering to various trading preferences. Deposits and withdrawals are facilitated through popular payment methods, with Trading.com ensuring secure and efficient processing. The platform upholds a maximum leverage of 30:1, complying with regulatory standards to safeguard traders.
Trading.com impresses with its commitment to offering competitive spreads and enhancing trading affordability. Regulated by the Financial Conduct Authority (FCA) of the United Kingdom, the platform underscores its legitimacy and adherence to industry standards. Customer service emerges as a focal point, with a dedicated support team available 24/5 through various channels, including phone, live chat, and email. This attentive service extends to its client protection measures, encompassing risk management practices and investor safeguards.
Online reviews provide a valuable glimpse into traders' experiences. With Trading.com, positive reviews highlight ease of use, innovation, and attentive customer service. However, the platform's negative feedback underscores issues related to profit-making and bonus offerings.
