Minimum deposit with Trade.com – $100
While the minimum deposit with Trade.com is $100, traders who deposit more will be able to take advantage of one of the three accounts this broker offers for premium customers. These will include some additional features that minimum deposit does not offer.
The Trade.com Classic Account – $1000 deposit
Starts from $1000 and includes video tutorials, 24h support, webinars and a dedicated account manager. Maybe the dedicated account manager is the biggest upgrade from the basic account and for many customers it makes sense.
Trade.com Gold Account – $5000 deposit
This type of account includes all the amenities of the previous account. It requires deposit of $5000 and on top of the already mentioned features it adds premium trading analysis and access to the Trading Central – a special corner of the Trade.com website, where Trade.com is in cooperation with Trading Central, a financial analysis service that is in compliance with French, US and Hong Kong regulators to deliver detailed market research covering popular CFDs. It easily connects with MetaTrader so the research is fed into the platform directly along with an up to date news ticker for those who prefer to trade on the news events. 24/5 access to the help line with experts is also included.
Trade.com Platinum Account – $25000 deposit
The platinum account with Trade.com will enable customers to access premium support line, set up just for them. In addition to this, all the previous features are also included.
In our opinion, the Trade.com Gold account seems to be the best buy since the Trading Central coupled with the personal account manager seems to be the perfect mix for mid-level trader.
As always, total beginners are advised to use the opportunity with the Trade.com practice account they can get just by entering their email and preferred password. This can be upgraded into a full demo account with $10 000 by finishing the registration which requires customers to enter their personal details and answer several questions to the broker in order for the broker to be sure the customer understands the forex and CFD trading basics.
The questions are there to asses if the customer knows basics of markets. Example: they mus know the bull market is a rising market and that buying an asset means that they are entering “long” position. Similar are the questions about trading with leverage (allows more risk and stand to profit and loose more). The questions also require the customer to understand there is risk involved in trading CFDs and Forex with Trade.com (or any other broker for that matter) and that they are solely responsible for their own account. This is done in order to protect people who do not understand anything about trading before speculating on prices of assets.
We recommend beginners to take a look at our forex page where we have explained many of the terms mentioned:
Traders can select leverage after signing up by entering info as described. We have selected 1:50 for our account. The most popular option seems to be 1:200 and the highest option offered is 1:300.
Spreads for the EURUSD have been 2 pips while we were testing the platform, while we have seen also 3 pips spreads with Trade.com on CFD contracts.
The broker does not incur additional fees, so even with the spreads, we can say that total trading costs are in line with the competition.
Trade.com can award gifts to customers, at their own discretion. Their Awards policy states that the conditions for a Trade.com “bonus” include registration and a valid phone number for verification. This is not the bonus in the sense of the notorious binary options bonuses that also some unregulated forex brokers offer, but a gift that is instantly withdrawable upon receival.