365Trading is owned by Fidelisco Capital Markets Ltd and is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 181/12, obtained on 26/10/2012. It was founded in 2012 and their address is; 2 Agias Elenis, Stassinos Building, 2nd Floor, CY-1060 Nicosia, Cyprus. You can contact them at [email protected].
Is 365Trading a Scam?
365Trading is an EU regulated broker since 2012 and I couldn’t find any horrifying stories about withdrawals or any scam accusations. Judging by their transparent and favorable terms and conditions I can conclude that they are not running a scam site. If they are it is a really well-disguised one because they look legit to me.
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Editor’s Note – Why Does 365Trading Suck in 50 Words
What I didn’t like with 365Trading is their dormant account policy. An inactive account is considered dormant after 180 days and will be charged 20$ every 6 month. Surely, 365Trading is not the only one with similar policies but it still sucks to see when brokers apply such penalties. It also might suck because there are no exotic binaries, just high/trading, but you know what? I don’t think it matters.
Update March 2017: Hmm, they’ve changed their dormant account policy quite substantially: Now an account is considered inactive after 90 days (previously 180) and now the company charges a maintenance fee of 10 Euros for every month of inactivity, which is a big change from the previous 20 bucks every 6 months. If it sucked before, what can I say about now…
Why 365Trading Doesn’t Suck in 50 Words
365Trading is a CySEC authorized brokerage since 2012 and hence EU regulated. Licensed brokers are often a better choice so it’s a great plus. Furthermore, you can open a demo account right away with no need to deposit which is always a plus. What I really like is the unique platform geared toward both short and long term traders. I am actually surprised I have never seen this broker before, regulation and a unique platform have put them on my radar.
Should I Open an Account with 365Trading?
365Trading has developed their own unique trading platform that I think is perfect for serious traders. The best is the platform itself, where you can view the charts candlesticks or lines and with enough history to do some decent analysis. The platform is limited, no range, boundary, one touch, ladder, 0-100 or any other kind of exotic binary options, just high/low. The good thing is that there are both long and short term expiries. Long term expiries range from 15 minutes up to 60 minutes with 15 min intervals and then end of day, week, month and year. Short term expiries start from 60s, 120s, 5 minutes and up to 10 minutes.
You can select up to three assets for fast access in the platform, which is by the way very simple to use. This means that you can trade up to four assets at once, one in the main window and three below it in smaller windows. I have to admit, it isn’t really the best looking platform I have ever seen but it gets the job done and is unencumbered by frills, glitz or glam. Looks aren’t always important but I think the asset index is way too small, only 58, so there is that to complain about. In any event, the list is well diversified so anyone should be able to find something to trade.
I couldn’t find a single complaint online about this brokerage. What’s even more interesting is that I didn’t even see a discussion about them on forums or review sites. I don’t know what’s up with that and I am not sure whether it’s a good thing or a bad one. Anyway, let’s look at the bright side: if people were getting scammed by 365Trading, I am sure we would see them complain online.
365Trading Regulatory Warnings And Announcements
18/05/2015: The Cyprus Securities And Exchange Commission (CySEC) decided to impose a total administrative fine of 15,000 Euro to Fidelisco Capital Markets Ltd (365Trading) for violating sections 75(2) and 139(2) of the Investment Services and Activities and Regulated Markets Law of 2007. The Board Decision was made public on 08/07/2015. Source: CySEC Board Decision
User Friendliness 17/20
The site is available only in English and German. There is an education center with videos, E-book, calendars and more. The trading platform is easy to understand and clear of the “extra” things that clutter up too many brokers today. They also offer a Free Demo account, meaning that you won’t have to deposit any money before you can use it.
No. of Assets and Expiry time 16/20
There are a total of 62 assets (11 indices, 36 stocks, 13 currency pairs and 2 commodities) which I think is low, but if they are all available to trade that’s better than a broker with 200 assets that are only randomly available to trade. The expiry times are categorized in short and long term where short term varies from 1 min up to 10 minutes. Long term is from 15 min and every 15 min up to 60 minutes and then 24 hours, weekly and end of the month.
Commissions, Support and Effective Return 16/20
The minimum withdrawal amount is 50€ and is free of charge once per calendar month. Additional withdrawals will cost 15€. Note: due to recent changes, withdrawals are free but the client will pay the transfer fees. The returns are fairly high and on the same level as other larger brokers, reaching up to 85%. Support is decent and not too pushy.
Deposit, Payment and Bonus 17/20
The following deposit methods are available: Mastercard, American Express, Skrill, Ideal, Bancontact-Mr Cash, Wire transfer, Sofort and Trustly. Withdrawals will be made through the same methods and will be achieved within 3 business days after receiving the request from the client. 365Trading doesn’t offer a bonus or at least it’s not displayed on the website.
Website Extra’s 10/20
The 365Trading platform can view price in candlesticks and you can get trading signals. Signals aren’t so much of a bonus, but the charts definitely are. This means you can trade directly from the platform, where with other brokers you might look at charts on one website and enter trades on another. Also, they’ve recently added FX/CFD trading.
365Trading Overall Rating (79) + Regulated (+3) = 82/100