Trade.com is a contract for difference (CFD) broker which offers a wide range of products including stocks, indices, forex, commodities, ETFs, bonds, and cryptocurrencies. Trade.com is regulated by the CySEC. CFDs enable traders to speculate on an asset without actually owning the underlying asset. CFDs allow traders to apply large amounts of leverage and also to take short positions. This is a benefit as most cryptocurrency trading services do not enable traders to take short positions. There are a number of different account tiers. Accounts type is based on the minimum account size. Higher up tiers get access to more educational resources on trading and more premium support. Users of the platform can use the popular MetaTrader software or alternatively can use Trade.com’s web apps or mobile apps.
Trade.com offer eight cryptocurrency products including Bitcoin, Ethereum, Dash, Litecoin, Ethereum Classic, and Bitcoin Cash. The product offering is lower than competitors with many offering over 20 products. the products are not offered 24/7. They are available to trade from Sunday 9 pm to Saturday at 9 pm GMT. Spreads are around on par with competitors. Leverage offered is 1:2 which is lower than some competitors which offer up to 1:30.
The fees are difficult to find on the website. There is no commission charged for trades and Trade.com get their fees from overnight positions along with profiting from the spread. For positions which are held overnight, a financing fee is charged at 10 pm GMT. Fees are threefold on Wednesday nights.
- Enables traders to go both long and short and apply leverage
- No commissions charged for trades
- Spread is on par with competitors
- Fees are difficult to determine from the website
- Fees are tripled on Wednesday nights for cryptocurrency products
- Fewer products offered than competitors
- Less leverage offered than competitors