Trading.com Review 2024: A Forex Broker Packed with Features

Home page: Trading.com

Summary of Trading.com

Some credible forex brokers emphasize regulations and compliance. Others come loaded with useful trading instruments.

Want one that offers both? Trading.com might be your go-to platform!

Trading.com boasts a wide range of trading tools, 1,250+ trading markets, multiple account types – and it’s all backed by FCA and ASIC regulations.

Based on our detailed analysis, Trading.com (formerly XMUK) earns a TB score of 6.7 out of 10.

Although available in many regions, the platform offers a more modest set of services in specific jurisdictions. For example, while Trading.com officially unveiled its forex trading services in the U.S. on February 24, 2022, it offers American users contingent-only forex services, not CFDs, as these come with substantial risks.

Dashboard and trading interface: Trading.com

Pros and cons

Bonus for U.S. Forex traders: Trading.com

Evaluating High Impact Factors

User satisfaction: 6 / 10

Regulation: 9* / 10

Educational content: 5 /10

Webinars: 2 /10

Spreads and commissions: 9 / 10

Customer support: 9 / 10

*In Dubai, Trading.com is compliant with the DFSA — Dubai Financial Services Authority.

FCA regulations: Trading.com

Trade with Trading.com If:

• You want to open and use multiple trading accounts
• You prefer your funds to be safely in the hands of a regulated broker

Fund safety guaranteed: Trading.com

Don’t Trade with Trading.com If:

• You’re a high-leverage trader (although you get 30:1 leverage, it might not be enough for more aggressive traders)
• You want to use a demo account indefinitely (access to your Trading.com demo account expires after 90 days)

A more stringent take on margin and leverage: Trading.com

Verified Office Address

Trading.com’s U.S. headquarters is located at 85 Broad Street, New York, NY 10004, USA.

The company is also registered as Trading Point of Financial Instruments UK Limited, located at Coppergate House, 10 Whites Row, Spitalfields, London, E1 7NF.

Website with the registered U.K. address: Trading.com

Expert Opinions on Trading.com

BD Droid Tech, YouTube

“The parent company was launched a decade ago 2009 by a group of ex-interbank dealers. Originally branded as XEMarkets, the rebranded XM has become known globally as a top forex and CFD broker.

Clients appreciate the wide array of assets available, not to mention the excellent trading conditions. Clients appreciate the wide array of assets available, not to mention the excellent trading conditions.”

Expert Review of Trading.com

We’ll talk about the platform and its features in a moment. But I want to start by sharing my first impressions.

I’ve tried several trading platforms, including eToro, Interactive Brokers, and Saxo Bank. However, Trading.com’s user interface really stood out, thanks in part to its seamless signup flow.

As I delved deeper, I was pleased to find multiple forex pairs. I was connected to Mike, who helped me set up a micro-account. He even explained the spreads and helped me break down the overall costs.

Vision and aim: Trading.com

The only issue I had was the web trader lagging during the peak trading hours. While the limit orders worked fine, I did miss some quick positions for market trades, which was a bit frustrating.

The regulation backing Trading.com is impressive. While most brokers mention FCA licensing, Trading.com is also regulated by:

• ASIC (in Australia)
• FSC (in Mauritius)
• CySEC (in Cyprus)
• FCA (in the U.K.)

Multi-jurisdictional compliance ensures that Trading.com always operates under the strictest of oversights, making it one of the more credible forex brokers I’ve encountered.

That’s just my first impression. Let’s take a closer look at what the platform offers.

Features and Offerings

Choice of Accounts

Trading.com lets you be the trader you want to be.

There is a Ultra-Low Standard Account for the regular, high-volume trader in you. This type of account lets you access standard lot types, followed by competitive spreads and leverage options.

Supported account types: Trading.com

Trading.com allows you to trade using a 30:1 leverage. There is a stop-out level of 50% for leveraged trades, below which open positions close automatically.

You can also open an Ultra-Low Micro Account with a lot size of 1,000. This type of account lets you trade lower volumes with the minimum lot size set to 0.1 lot.

A Wide Range of Trading Instruments

If you’re using Trading.com outside the U.S., you can trade more than just the forex pairs – all major, minor, and exotic pairs are supported. However, depending on how accessible the pair is, the spreads can vary.

Here are some of the popular pairs on display:

Handful of forex pairs: Trading.com

Besides the standard forex pairs, there are tons of CFDs to work with. Starting with stocks, Trading.com lets you pick from over 1,300 stocks in every global market you can think of, including the Vienna Stock Exchange, Austria, and NYSE.

(Note that stock CFDs feature dividend adjustments.)

Here are some of the popular picks:

Stock CFDs: Trading.com

The platform also lets you trade commodities as CFDs, market-hours CFDs, active contracts, and commodity futures CFDs. For Futures, be sure to check the margin requirements beforehand.

Commodity CFDs: Trading.com

Top global Index CFDs are also available. Here are the options you might want to consider:

Index CFDs offered: Trading.com

You can also work with specific commodities (metals and energies) as spot instruments and CFDs. These instruments are known for their competitive spreads.

Three spot instruments: Trading.com

How do you trade energies? Trading.com

I personally feel trading with CFDs is risky, but that can be a risk worth taking if you know how the market is moving.

Financial Tools

Besides integrating an economic calendar, Trading.com has a host of built-in calculators, including margin, P&L, and Pip. These calculators can amplify your trading experience by helping you make the right financial calls.

Host of calculators: Trading.com

I would recommend using the calendar if news trading is one of your priorities.

Access to demo accounts: Trading.com

Trading.com also lets you open multiple demo accounts and even take part in paper trading competitions. However, some of those features are region-specific.

I tried out a demo account and found the experience surprisingly authentic. Although I knew I wasn’t trading with real money, nothing about it felt virtual. This is a great way for new traders to get their feet wet before putting real funds at risk.

Paper trading for U.S. users: Trading.com

Signing Up: How Easy Is It?

To get started on Trading.com, create an account using all the standard details and credentials.

One innovative feature is the timer set up for every step, with a promise that opening an account should take less than five minutes.

Account opening timeline: Trading.com

The first step involves filling in the basic details and selecting the MetaTrader 5 account type you want to open.

Account registration flow: Trading.com

As a broker that takes regulatory requirements seriously, Trading.com also requires you to fill out an investor profile, with details like your annual income, experience using leverage, and your level of trading skills and knowledge.

Then, it’s time to submit documents to verify your address and identity:

• Verify your identity with a government issued ID. I supplied an India-based Aadhar card, which was accepted without any hassle.
• Verify your address by supplying utility bills or bank statements.

Once those documents are submitted, Trading.com will approve your account within 24 hours. Mine was verified and approved in under two hours.

The process is the same for a demo account, and I managed to create one in about the same amount of time.

Trading.com Dashboard

Trading.com boasts a beginner-friendly interface, with a white and green color scheme that highlights key information. The dashboard features:

1. Customizable charts
2. Access to real-time market info
3. All the supported instruments
4. Clear account segregation for U.S. users

U.S. T1 account: Trading.com

Deposit and Withdrawal Options

Funding options are an important consideration when selecting a broker. Trading.com supports payments using bank and wire transfers, credit cards, and electronic payment methods.

All other funding options: Trading.com

Deposits can be made in a number of currencies: USD, EUR, CHF, GBP, AUD, PLN, and HUF.

For U.K.-based deposits, I used my credit card to deposit $250. There were no charges, and the amount was reflected in my account instantly.

All my trades were initiated in the USD, so I didn’t get to test other currencies. But reviews on Trustpilot mention smooth sailing for EUR-based funding.

Fees and Minimums

• ACH payments: $0 fee
• Wire transfers: $13 fee on transfers under $250
• Deposit minimum: $5

Trading Conditions on Trading.com

Trading.com has one of the best and most transparent fee structures among forex brokers.

First, there are no commissions involved for any instrument whatsoever. And no rollover costs for carrying forward your day positions.

There aren’t any base currency conversion fees, either. This makes the entire earning model hinge on spreads starting at 0.6 pips.

Trading elements and overheads: Trading.com

Trading.com doesn’t offer fixed spreads. It takes the available liquidity and market volatility into account for setting those.

How to Start Trading on Trading.com

Once you have created an account, you can load up the trading platform (including the Web Trader, MetaTrader 5, and both iOS and Android apps) and log in using your Trading.com credentials.

Here are all the platform-specific attributes:

Web-based trader

• Accessible via all leading web browsers
• No download needed
• Packed with trading tools, like indicators and graphical tools
• Customizable charts and templates

MetaTrader 5 (MT5)

• Supports algorithmic trading powered by expert advisors
• Access multiple order types and order execution methods
• Includes 80+ technical indicators and analytical tools
• Supports advanced trading tools like complex order management options and integration of economic calendar
• Can be downloaded and used as a desktop app
• Access to 1250+ markets for non-U.S users

With Trading.com’s version of MT5, you can seamlessly place market, stop, pending, and trailing stop loss orders. The multiple execution modes include market execution, exchange execution, and instant or request execution.

iOS app

• Real-time price quotes
• End-to-end trading functionality
• Detailed view of your trading history directly from the dashboard
• Compatibility across the iOS ecosystem

Trading.com app: App store

I had the opportunity to test the iOS app, and found the experience to be smooth, especially with how quickly the charts loaded. For trading, however, you still need MT5 for Android and iOS.

Android app

• Build custom watchlists
• User-friendly interface
• All trading orders are at your fingertips
• View pending orders directly from the dashboard
• Detailed charts
• One-tap trading support

MT5 Android app: Trading.com

The choice of platform for this forex broker is up to you. I find that each of them works relatively well, so it’s really a matter of preference.

Useful Tools for Traders

Although Trading.com doesn’t explicitly disclose the nature of their trading tools, I managed to locate a few, including:

1. One-click trading interface
2. TradingView-powered charts
3. Access to 50+ trading indicators via MT5
4. News trading support

Investing Opportunities

Trading.com doesn’t offer copytrading opportunities.

MetaTrader marketplace: MT5

Without this easy-to-use option, consider opening a demo account first and getting accustomed to the MetaTrader 5 interface. On MT5, you can explore Expert Advisors, access trading signals, and purchase or rent additional indicators to get better at trading.

MetaTrader web interface: Trading.com

Fund and Data Security

Trading.com employs various security standards to safeguard user data and funds, including:

• Strong password policies
• Two-factor authentication
• Secure payments via Transport Layer Security
• Extensive collaboration with liquidity providers
• Real-time risk exposure monitoring

Trading.com also offers negative balance protection, ensuring that losses don’t run out of control if you opt for leverage.

Security standards: Trading.com

Customer Support Quality for Trading.com

The quality of customer support exhibited by forex brokers can make or break their reputation. Here is what Trading.com has to offer in that regard:

• Livechat support
• Phone support
• Email support
• Connection via fax
• 24/5 access to the support team

Unified customer support interface: Trading.com

This extensive range of options is why I rated their customer service 9 out of 10 in my overall evaluation. I tested each of these support methods, and they didn’t disappoint.

Trading.com Affiliate Program

Trading.com doesn’t currently offer an affiliate or referral program.

That might change in the future. If and when it does, we will update this review and provide you with all the details.

Why Use Trading.com?

If you’re a trader who prefers changing trading volumes depending on market conditions and your available funds, Trading.com is the perfect platform to onboard.

This is also a perfect forex broker for those who want to avoid cost complexities and only want to pay via variable spreads.

However, if you’re still new to trading and not well-versed in CFDs and leverage, you might want to look elsewhere. There are better options for beginners who are still learning and gaining experience.

Personally, I give Trading.com a nod of approval. Its wide range of instruments, realistic demo accounts, and regulatory backing are all reasons to give this platform a try.

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