TradeTime Review and Tutorial 2020
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|TradeTime Facts & Figures|
TradeTime is an FX broker also offering trading in stocks, commodities, & Bitcoin.
|Bonus||$27 no deposit bonus|
|Instruments||Forex, CFDs, indices, shares, commodities, cryptocurrencies|
|Min. Trade||0.01 lots|
|Leveraged online trading is available on CFDs in multiple markets.|
Trade dozens of global currency pairs.
Trade on BTC/USD with leverage.
TradeTime is an online financial services provider, specialising in forex and other tradeable assets. This review of the broker’s website covers everything from regulation to pricing and the login process. Find out if TradeTime is a trustworthy and legitimate company.
TradeTime Company Details
TradeTime (Capital Process Ltd) is registered and operates in Bulgaria. The broker claims to be regulated by the Vanuatu Financial Services Commission and has been in operation since 2010. The company has several customer service offices based around the world, including Australia, Spain, Sweden, and the UK.
TradeTime offers over 490 tradeable instruments to all levels of traders, using two platforms and customisable accounts.
TradeTime uses its own proprietary trading platform. The system offers fast execution, advanced charts, customisable indicators, and integrated trading signals. On the downside, the platform does not allow for automated trading or Expert Advisors.
Users looking for an alternative experience to the popular MetaTrader systems may want to try the proprietary software.
TradeTime also offers the award-winning MetaTrader 4 (MT4) platform, suitable for all traders and offering a host of advanced features, including:
- 30 built-in indicators for technical analysis
- Automated trading and Expert Advisors
- Multiple order execution types
- Advanced real-time charting
- 9 different timeframes
- One-click trading
MT4 is available for download directly from the broker’s website.
TradeTime offers a range of markets:
- Shares – Trade over 400 global shares, including Adidas, Facebook, and Google
- Currencies – Trade 60+ currency pairs, including EUR/GBP and GBP/USD, plus Bitcoin
- Commodities – Trade on hard and soft commodities such as oil, precious metals, and coffee
- Indices – Choose from seven of the world’s biggest indices, including the FTSE100, DAX30, and Dow Jones
Spreads & Commissions
TradeTime’s spreads are very high. For major forex pairs, spreads start at 3.3 for EUR/USD and 4.3 for EUR/GBP. You would need at least $5,000 to get a spread of 2.2 for EUR/USD and $11,000 to get a spread of 1.8.
The ECN account offers a spread of 0.6 pips for EUR/USD at a commission of $1.80, but you would need an initial investment of $5,000.
For shares, the minimum investment permitted is $5,000 across all shares, with a commission of $1.50 per 1 share.
The maximum leverage for currencies is set at 1:300, whilst for indices, shares, and commodities, leverage is offered at 1:75. Upon request, leverage rates can be increased to 1:400.
A margin calculator can also be accessed on the broker’s website.
The MT4 mobile app allows users to trade on the go with many of the same features as the desktop program, including customisable charts, financial news, and push notifications. The app is compatible with iOS and Android smart devices and can be downloaded from the user’s respective App Store or Play Store.
You can fund your account with a minimum deposit of $500 using credit/debit cards and bank transfers. The website claims other methods are available, however, details aren’t provided and we couldn’t get through to the customer support team for clarity. This is somewhat concerning as basic information regarding deposit and withdrawal methods, plus associated fees, should be readily accessible.
TradeTime offers a demo account where you can practice trading before registering for a live account. The practice account can be set up using the registration form on the website, which requires your personal details and the currency you wish to set the account in.
Deals & Promotions
TradeTime offers a $27 no deposit welcome bonus. Unfortunately, the terms and conditions aren’t clear, so we recommend caution as you may not be able to withdraw the bonus or associated returns.
Regulation & Licensing
Although the marketing around regulation, segregation of funds, and security are prevalent on the website, there is no solid evidence of regulatory oversight, neither from the VFSC or the Bulgarian Financial Services Commission (FSC).
With this in mind, we’re not comfortable the company is legitimate and trustworthy. We cannot guarantee TradeTime isn’t operating an online scam. We’d recommend considering more trusted providers first, regulated by the likes of the FCA and CySEC.
TradeTime does offer some useful extra features, including:
- Various calculators (margin, pip, currency, etc)
- Trading signals service
- Financial blog
- CFD calendar
TradeTime offers only customised accounts, where users can select filters depending on how much they wish to deposit and what assets they are interested in. Only deposit the minimum amount and you may be restricted to trading in currencies and commodities. 1:400 is the maximum leverage available across accounts.
Advantages of using TradeTime include:
- Customisable accounts
- MT4 trading platform
- 6 daily signals
- 60+ currencies
- 1:400 leverage
Drawbacks of trading with this brand include:
- Expensive spreads & commissions
- Unverified regulation & licensing
- Limited educational resources
- Worrying online reviews
You can trade 24 hours a day, 5 days a week, however specific global markets will vary by time zone:
- Sydney – 10:00 pm – 7:00 am GMT
- London – 11:00 pm – 8:00 am GMT
- Tokyo – 11:00 pm – 8:00 am GMT
- New York – 12:00 pm – 9:00 pm GMT
The customer support channels available are:
- Email – email@example.com
- Live chat – located in the bottom right-hand corner of the website
- Telephone – +44 203 150 1127 (UK). International numbers are also available on the website for residents from Australia, New Zealand, Spain, Sweden, Switzerland, and France
On testing the live chat feature, we were unable to get past the chatbot to a human representative. This is a real downside as reliable customer support without long wait times is a real benefit, particularly for beginners.
Data is protected with 256-bit GeoTrust encryption, with servers located in SAS-70 certified data centres. The website also states that the company insures and segregates client funds in separate bank accounts.
With the lack of verified regulation, as well as high trading fees, users should be aware that this broker may be a scam. This is also supported by other online reviews. As there is a consistent lack of information regarding trading conditions, as well as sub-par educational content, TradeTime is not recommended.
TradeTime accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use TradeTime from United States.
What accounts does TradeTime offer?
TradeTime provides customised accounts that depend on general filters selected by the user. These are based on minimum deposit, what assets you wish to trade, and what type of trader you are.
What funding options are available at TradeTime?
The broker claims to support funding via debit/credit card, bank transfer, and a range of other methods. However, there is limited information available about additional methods and associated fees.
Does TradeTime offer any bonuses?
TradeTime offers a $27 no deposit bonus, though no details are given. As terms and conditions aren’t provided, traders are warned they may not be able to withdraw the bonus or associated returns.
Does TradeTime offer a demo account?
TradeTime does offer a demo account which you can register for using the online form. The practice account is a good way to verify the broker’s services and test the platforms.
Is TradeTime a scam?
TradeTime claims to be regulated by the Vanuatu Financial Services Commission (VFSC), though there are no documents to support this. The company shows a lack of transparency throughout the website and has negative reviews online.
|TradeTime is an FX broker also offering trading in stocks, commodities, & Bitcoin.|