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TradeDirect365 is an Australian broker regulated by the Australian Securities and Investments Commission (ASIC). It positions itself as a company created by a trader for traders. According to the legend, founder Devin Clark got tired of exorbitant commissions from other brokers, so he created his own company, Finsa Pty Limited (owner of the TradeDirect365 brand).
The broker emphasizes that all funds deposited by clients are stored in segregated accounts in Westpac Bank, one of the largest banks in Australia. These funds are not used for hedging or to fulfill other clients` trading obligations, or for any other business transactions.
Trading conditions
Clients of TradeDirect365 get access to a wide array of trading instruments, including currency pairs, including exotic and minor ones, indices, shares, cryptocurrencies, bank metals, and commodities (WTI and Brent crude).
Traders can choose from four account types such as Personal/Individual, Corporate (company/business), or Trust/SMSF account. Deals can be performed via such trading platforms as CloudTrade CFD and popular MetaTrader 4. The first trading platform has more trading instruments, welcome bonus, and it is compatible with mobile devices if there is an Internet connection. However, it does not provide traders with the Autotrade option.
The maximum leverage is 1:200 that is quite a low level among other brokers. However, the company’s clients can make use of the stop-loss order.
Promotions and bonuses
New clients may receive the welcome bonus from Trade Direct 365 worth 2,500 AUD (Australian dollar) in the form of a cash discount on trading expenses in the first month of cooperation. According to the table posted on the broker`s website, traders can get a refund of up to 25% of the invested funds. Traders may either withdraw or use them for trading.
Education
TradeDirect365 offers a library of training materials such as video reviews, explanations in the form of texts, and the FAQ section.
The company’s clients can open a demo account to test the Cloud Trader CFD platform. The risk-free virtual fund is $10,000.
Support Service
Traders may contact the support team via the telephone number or email during working days from Monday to Friday. The broker provides its services only for English-speaking clients.
Deposit and withdrawal of funds
Deposits can be performed by means of a wire transfer and such systems as POLi and TransferWise. Traders may also use credit and debit cards. In this case, it is necessary to clarify the currency of credited funds as the base currency for the broker is the Australian dollar.
Broker pays close attention to the regulator’s requirements. TradeDirect365 does not have the right to accept funds of a third person. Thus, money can be credited only to the bank account from which it was deposited to trading accounts in TradeDirect365.
Comments left by traders
According to the comments left by traders, the main problem is thewithdrawal of funds. Some people complain about long transactions, others are not satisfied with the additional conversion that can be explained by the currency the broker works with.
Advantages and disadvantages of the company
Pros:
- regulated broker
- several trading platforms one of which is user-friendly and easy to understand
- several account types
- demo account
Cons:
- few ways to deposit and withdraw funds
- only for English-speaking traders
- low leverage level
- poor educational section
