TradeTime overview 2021
TradeTime is an online financial services provider specializing in the trading of currencies and other assets. This broker website overview covers everything from regulation to pricing and the login process. Find out if TradeTime is a reliable and legitimate company.
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 operating since 2010. The company has several customer service offices located around the world, including Australia, Spain, Sweden and the United Kingdom.
TradeTime offers over 490 tradable instruments for traders of all levels, using two platforms and customizable accounts.
Trading platform
TradeTime uses its own trading platform. The system offers fast execution, advanced charts, custom indicators and integrated trading signals. On the other hand, the platform does not allow automated trading or Expert Advisors.
Users looking for an alternative to the popular MetaTrader systems may want to try the proprietary software.
MetaTrader 4
TradeTime also offers the award-winning MetaTrader 4 (MT4) platform suitable for all traders and offering many advanced features, including:
- 30 integrated indicators for technical analysis
- Automatic trading and advisors
- Several types of order execution
- Advanced real-time charts
- 9 different timeframes
- One click trading
MT4 is available for download directly from the broker’s website.
Markets
TradeTime offers a number of markets:
- Shares- Trade over 400 global shares including Adidas, Facebook and Google.
- Currencies – Trade over 60 currency pairs including EUR / GBP and GBP / USD, as well as Bitcoin.
- Commodities – trade in hard and soft commodities such as oil, precious metals and coffee.
- Indexes – Choose from seven of the world’s largest indexes, including the FTSE100, DAX30 and Dow Jones.
Spreads and commissions
TradeTime spreads are very high. For major currency pairs, spreads start at 3.3 for EUR / USD and 4.3 for EUR / GBP. You will 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 will need an initial investment of $ 5,000.
For shares, the minimum investment allowed is $ 5,000 for all shares with a commission of $ 1.50 per share.
Leverage
The maximum leverage for currencies is set at 1: 300, while for indexes, shares and commodities, leverage is offered at 1:75. Leverage can be increased up to 1: 400 upon request.
The margin calculator is also available on the broker’s website.
The FCA in the UK has issued a warning to the firm and its owners:
Mobile applications
The MT4 mobile app allows users to trade on the go with many of the same features as the desktop app, including custom 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.
Payment methods
You can fund your account with a minimum deposit of $ 500 using credit / debit cards and bank transfers. The website states that other methods are available, however details were not provided and we were unable to contact customer service for clarity. It’s a bit disturbing, as basic information on deposit and withdrawal methods, as well as the associated fees, should be easily available. .
Demo account
TradeTime offers a demo account where you can practice trading before registering a live account. A practice account can be set up using the registration form on the website, which requires your personal information and the currency in which you want to create an account.
Deals and promotions
TradeTime offers a $ 27 no deposit welcome bonus. Unfortunately, the terms are unclear, so we recommend that you proceed with caution as you will not be able to withdraw the bonus or related refunds.
Regulation and licensing
Although the website is dominated by marketing related to regulation, separation of funds and security, there is no conclusive evidence of regulatory oversight from either the VFSC or the Bulgarian Financial Services Commission (FSC).
With that in mind, we don’t like the company being legitimate and trustworthy. We cannot guarantee that TradeTime is not engaged in online fraud. We would recommend looking first at the more reliable providers regulated by organizations such as FCA and CySEC.
Additional features
TradeTime offers several useful additional features, including:
- Various calculators (margin, pip, currency, etc.)
- Trading signals service
- Financial blog
- CFD calendar
Account types
TradeTime only offers individual accounts where users can select filters based on how much they want to deposit and what assets they are interested in. Only deposit the minimum amount and you may be limited to trading currencies and commodities. 1: 400 is the maximum leverage available for all accounts.
Support
The following customer support channels are available:
- Email – support@tradetime.com
- Live chat – located in the lower right corner of the site.
- Phone – +44 203150 1127 (UK). International numbers are also available on the site for residents of Australia, New Zealand, Spain, Sweden, Switzerland and France.
While testing the live chat feature, we were unable to contact the human representative via the chatbot. This is a real drawback, as reliable customer support without long waiting times is a real advantage, especially for beginners.
Safety
The data is protected with 256-bit GeoTrust encryption, and the servers are located in SAS-70 certified data centers. The website also states that the company insures and splits customer funds in segregated bank accounts.
TradeTime verdict
Due to the lack of proven rules as well as high trading fees, users should be aware that this broker can be a scam. Other online reviews confirm this as well. Since there is a constant lack of information on trading conditions, as well as poor quality educational content, TradeTime is not recommended.
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