Economy
In-depth Trading.com Review Compiled by Traders Union Analysts
In the dynamic world of online trading, selecting a reliable and proficient broker is critical. Hence, the importance of comprehensive broker reviews cannot be understated. With this Trading.com review, we aim to shed light on one of the key players in the Forex trading world.
Traders Union compiled the Trading.com review. It will delve into the diverse aspects of Trading.com. From its offerings and trading conditions to the potential drawbacks, our review will guide you through the myriad details of this UK-based broker.
What is Trading.com?
According to Traders Union experts, Trading.com, formerly known as XMUK, has carved a significant niche in the trading market. The full name, Trading Point, was transitioned to the more streamlined Trading.com in 2019. This London-based firm is regulated by the Financial Conduct Authority (FCA) under registration number 705428.
Trading.com allows traders to invest in six asset classes: currency pairs, metals, and CFDs on stocks, stock indices, commodity futures, and energy resources. Over 1,250 assets can be traded, offering significant diversity to traders worldwide.
Advantages and disadvantages of Trading.com
As identified by TU experts, Trading.com exhibits an array of advantageous and disadvantageous features.
Advantages:
- Favorable trading conditions with average spreads on significant pairs standing at 0.6 pips.
- The absence of commissions enhances the profit potential.
- Moderate initial deposit requirements, with trading commencing at a minimum deposit of $5.
- The renowned MetaTrader 5 platform is used for desktop and mobile trading.
- A reliable regulatory framework under the FCA.
Disadvantages:
- Limited accessibility as the broker only provides services to UK citizens.
- The absence of PAMM and MAM accounts for passive investing.
- Lack of bonuses and training programs.
Analysis of the main features of the Forex broker
The overall score, as evaluated by TU experts, is a modest 2.06. The execution of orders scored 1.85, while the variety of investment instruments is marked at 1.91. The speed of withdrawal processes has been rated at 2.21, and customer support stands at 1.69. The various instruments and the trading platform earn higher scores, at 2.43 and 2.27, respectively.
Trading conditions for Trading.com users
The trading conditions at Trading.com, as per TU experts, are as follows:
- Trading platforms: MetaTrader 5 for desktop, mobile, and WebTrader.
- Account types: Ultra-Low Standard, Ultra-Low Micro.
- Account currencies: EUR, USD, GBP, CHF, AUD, PLN, HUF.
- Minimum deposit: $5.
- Leverage: Ranges from 1:1 up to 1:30, depending on the instrument.
- Spreads: Average spread at 0.6 pips.
- Instruments: Many instruments, including 57 currency pairs, and 1200+ CFDs on shares, commodities, indices, metals, and energy resources.
Trading.com trading Instruments compared to other brokers
TU experts compared the trading instruments of Trading.com broker to other broker’s trading instruments.
- RoboForex: Much like Trading.com, RoboForex also provides various trading options. However, the specifics of trading conditions and instrument variety can differ, thus requiring careful analysis from prospective traders.
- Pocket Option: Pocket Option’s trading offerings resemble those of Trading.com. Nevertheless, differences in trading conditions, instrument availability, and other features mandate an in-depth examination by interested traders.
- Tickmill: Tickmill, similar to Trading.com, provides diverse trading options. The nuances of trading conditions, instrument variety, and unique features may vary, necessitating a thorough evaluation by potential traders.
- EXNESS Group: EXNESS Group, while offering a broad spectrum of trading options like Trading.com, may differ in aspects like trading conditions, available instruments, and other unique features. Hence, a detailed comparison is advised for potential traders.
- AMarkets: Offering a diverse range of trading options akin to Trading.com, AMarkets might still differ in trading conditions, instrument offerings, and other specific features. Therefore, potential traders should meticulously examine these factors before making a decision.
Additionally, TU experts have also published a thorough FXPRIMUS review on their official website for traders who are interested,
Conclusion
While Trading.com presents a strong case for a reliable trading platform, weighing its benefits against its limitations is essential. As always, we recommend traders to visit the Traders Union’s official website for more insightful reviews and guidance on choosing the best-suited broker.
By Adedapo Adesanya
Five securities pulled down the NASD Over-the-Counter (OTC) Securities Exchange by 1.72 per cent on Friday, August 14, cutting the market capitalisation by N47.04 billion to N2.689 trillion from N2.727 trillion, and slicing the NASD Security Index (NSI) by 78.37 points to 4,465.83 from 4,532.03 points.
11 Plc led the price decliners yesterday after its price went down by N15.03 to N230.00 per share from N245.03 per share. MRS Oil Plc weakened by N13.20 to N118.80 per unit from N132.00 per unit, Central Securities Clearing System (CSCS) Plc slid by N10.30 to N99.46 per share from N109.76 per share, Okitipupa Plc fell by N6.99 to N270.01 per unit from N277.00 per unit, and Afriland Properties Plc dipped by N2.00 to N20.00 per share from N22.00 per share.
Business Post reports that the OTC securities exchange recorded four gainers during the session, led by FrieslandCampina Wamco Nigeria Plc, which appreciated by N9.85 to N169.85 per unit from N160.00 per unit. IPWA Plc gained 70 Kobo to close at N10.41 per share versus N9.71 per share, Industrial and General Insurance (IGI) Plc rose by 4 Kobo to 54 Kobo per unit from 50 Kobo per unit, and Geo-Fluids Plc improved by 1 Kobo to N2.06 per share from N2.05 per share.
The volume of trades soared by 64.8 per cent to 3.2 million units from the previous session’s 1.9 million units, the value of transactions jumped by 78.2 per cent to N375.7 million from N210.8 million, and the number of deals surged by 35.3 per cent to 46 deals from 34 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 79.0 million units exchanged for N5.7 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
By Dipo Olowookere
The dominance of the bears on the Nigerian Exchange (NGX) Limited was consolidated on Friday, after further inflicting an 0.12 per cent loss at the close of trading activity.
All the key sectors of the local stock market turned red yesterday as a result of sustained profit-taking, though the industrial goods space was flat.
The insurance counter lost 1.49 per cent, the energy index shed 0.63 per cent, the consumer goods segment declined by 0.46 per cent, and the banking sector tumbled by 0.23 per cent.
Consequently, the All-Share Index (ASI) retreated by 398.18 points to 242,619.20 points from 243,017.38 points, and the market capitalisation receded by N257 billion to N156.624 trillion from N156.881 trillion.
Fortis Global Insurance lost 9.31 per cent to trade at N2.63, Omatek depreciated by 9.04 per cent to N1.51, John Holt slipped by 9.00 per cent to N9.10, RT Briscoe slumped by 7.94 per cent to N11.60, and Dangote Sugar went down by 7.79 per cent to N64.55.
But International Energy Insurance gained 9.92 per cent to sell for N5.32, Trans-Nationwide Express appreciated by 9.65 per cent to N2.84, Guinea Insurance improved by 6.67 per cent to 80 Kobo, Regency Alliance grew by 6.25 per cent to 85 Kobo, and Japaul jumped by 5.36 per cent to N2.95.
The market breadth index remained negative, with 30 price losers and 21 price gainers, indicating weak investor sentiment.
The level of activity contracted yesterday, with the trading volume, value, and number of deals down by 66.67 per cent, 10.65 per cent, and 5.60 per cent, respectively.
This was because market participants transacted 1.4 billion shares worth N45.3 billion in 39,134 deals during the session compared with the 4.2 billion shares valued at n50.7 billion traded in 41,454 deals on Thursday.
Fortis Global Insurance was the most active equity for the day, with a turnover of 874.1 million units valued at N2.4 billion, Cornerstone Insurance sold 100.3 million units worth N506.5 million, Universal Insurance traded 56.7 million units for N44.5 million, Sterling Holdings exchanged 53.3 million units worth N402.9 million, and MTN Nigeria transacted 44.6 million units valued at N31.4 billion.
By Adedapo Adesanya
The Naira maintained stability against the United States Dollar in the different segments of the foreign exchange (FX) market on Friday, August 14, according to data obtained by Business Post.
At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency remained unchanged at N1,357.65/$1, but lost N6.05 against the Pound Sterling to trade at N1,840.10 versus the previous session’s N1,834.05/£1, and depreciated against the Euro by N4.70 to sell for N1,571.70/€1 compared with the preceding day’s N1,567.00/€1.
At the black market, the Nigerian currency traded flat against the Dollar at N1,395/$1, but gained N3 at the GTBank forex desk to quote at N1,364/$1 versus Thursday’s exchange rate of N1,367/$1.
Data from the Central Bank of Nigeria (CBN) showed that interbank FX transactions surged by 51.2 per cent to $119.594 million from $79.097 million. These transactions were executed in 137 deals, higher than the 98 deals recorded a day earlier.
FX inflows from exporters, remittances and other sources, alongside demand from importers and individuals requiring Dollars, continue to shape market conditions.
Meanwhile, the cryptocurrency market recovered yesterday after experiencing a downturn in the previous sessions following reports that index provider MSCI has proposed new “non-operating company” screens for its Global Investable Market Indexes. Although the framework does not explicitly target cryptocurrency, it evaluates whether a company’s core operating assets constitute more than 50 per cent of its total holdings.
Heavy digital asset treasury adopters, including Strategy and Metaplanet, fail the proposed criteria and face potential removal during upcoming index rebalancings. While inclusion in major equity benchmarks previously allowed passive index funds and ETFs to automatically acquire these stocks, their removal could trigger forced institutional selling.
Dogecoin (DOGE) grew by 0.7 per cent to $0.07, Binance Coin (BNB) expanded by 0.6 per cent to $611.34, Ethereum (ETH) added 0.4 per cent to trade at $1,879.65, and Bitcoin (BTC) increased by 0.2 per cent to $63,045.87, with Ripple (XRP), the US Dollar Tether (USDT), and the US Dollar Coin (USDC) flat at $1.00, respectively.
But Cardano (ADA) lost 1.2 per cent to trade at $0.1795, TRON (TRX) shed 0.4 per cent to finish at $0.3323, and Solana (SOL) declined by 0.2 per cent to $75.60.
