Trade Capital Markets Review – All About This Broker
Trade Capital Markets (TCM) Limited was incorporated in 2013 and is authorized and regulated by the Cyprus Securities and Exchange Commission (“CySEC”) to act as a Cyprus Investment Firm(“CIF”), providing investment and ancillary services.
They claim to combine expertise and experience across industries, functions, and geographies with an extensive background in the financial industry. Lastly, the company allegedly offers a wide range of investment products and services with the highest quality standards.
If you’re like us and you’ve read the complaints that traders wrote about Trade Capital Markets (TCM), you probably have a lot of questions. We’re here to answer them.
In this (TCM) broker review, you’ll find key information about this broker. This review will focus mainly on the Cypriot branch of TCM.
|Broker Status:||Regulated Offshore Broker|
|Owner:||Trade Capital Markets (TCM) Ltd|
|Regulated by:||CySEC, FCA, FSCA, FSC|
|Headquarters Country:||Cyprus, UK, South Africa, Mauritius|
|Trading Instruments:||Forex. Commodities, Shares, Indices, ETFs, Bonds, Crypto|
|Trading Platforms:||WebTrader, MT4, and MT5|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
Regulation and Security of Fund
Trade Capital Markets Ltd, hereinafter TCM, is a subsidiary of Trade Capital Holding Limited but we’re interested in just TCM here.
TCM is an investment company registered with the Cyprus Securities and Exchange Commission (CySEC) and its branch, Lead Capital Global Ltd is registered with South Africa’s Financial Sector Conduct Authority (FSCA) and Mauritius’ FSC (offshore).
Furthermore, the company has one more subsidiary that operates in the UK (Trade Capital UK Ltd).
We checked the CySEC, FSCA, and UK FCA registers to confirm the Trade Capital Markets (TCM) regulation claims. It’s all legit. Why all the complaints then?
Well, one explanation could be the offshore branch, which is pretty much unregulated since Mauritius doesn’t have proper financial market rules. Another possibility is that the FSCA-licensed entity is a clone.
Although CySEC operates under the jurisdiction of the European Securities and Markets Authority (ESMA) and issues MiFID passports to its brokers, it’s still a Tier 2 regulator. So is the FSCA. Only the FCA is a Tier 1 regulator here, which carries the most weight and offers the tightest conditions.
Available Account Types
In regards to the trading accounts, Trade Capital Markets offers the following ones:
- Micro – $10
- Plus – $5,000
- Pro – $10,000
- ECN Pro – $100,000
The last account type is only per request. TCM clearly outlined spreads and commissions for benchmark instruments out of the asset classes. We would like to address the really high leverage. Namely, TCM offers up to 1:290! It’s an unambiguous sign that this is either the South African or the offshore Mauritius branch.
CySEC and the FCA have a cap of 1:30 in force in their jurisdictions. This restriction is there to protect clients from huge losses that extremely high leverage often brings. Be careful.
TCM offers a free demo account. It’s great to be able to trade for free and see how the platform functions. However, opening a live account, or in this case, the CFD account, is a different story. You’re investing real money and the risks are high. Plus, TCM’s reputation is a bit tarnished.
Here’s what TCM offers in terms of trading instruments:
- Forex pairs – EUR/USD, AUD/CAD, NZD/CHF
- Indices – FRA40, UK100, AUS200
- Commodities – gold, crude oil, coffee
- Shares – Barclays, Intesa, Apple
- Crypto – BTC, ADA, ETH
- ETFs – ACES, MTUM, QQQ
- Bonds – Gilt10y, GER10yBond, TBOND30
Spreads and commissions vary for each account type. For example, the spread for EUR/USD on the Micro account is 1.4 pips. That’s pretty much the industry’s standard.
The PRO account offers 0.8 pips for EUR/USD but is more expensive. As for the commissions, TCM charges 0.16-0.08% on shares trading and 0.5% on crypto trading. The ECN PRO account also charges 0.04 $ on FX and metals.
Deposits and Withdrawals
We have found on the Trade Capital Markets website that they offer the following deposit methods:
- Visa or Master credit or debit card
- Wire transfers
Allegedly, there are no deposit & withdrawal fees. When paying with cards, the payment is processed by ECOMMBX Ltd from Cyprus.
The Trade Capital Markets (TCM) withdrawal policy is missing on the Global (offshore) branch’s website. Global also offers a welcome bonus, which is banned in ESMA’s territory and the UK.
So, in case you are interested in working with them, remember that you need to work with a company that has strong regulations and licenses. If you deposit with the Trade Capital Markets, you will not be able to withdraw the welcome bonus they give you.
Trading Platform Overview
TCM offers three trading platforms which include MetaTrader 4, MetaTrader 5, and WebTrader. The instructions for downloading and installing the platform can be found on the broker’s website.
From what we read, MT4 is available for both PC and mobile while MT5 is available only for Windows and MAC. WebTrader is browser-based so it doesn’t need downloading.
MT trading platforms are the leading software in the trading industry. They offer a wide range of advanced tools and features. Traders can utilize automated trading, multiple timeframes, in-depth analysis, lightning-fast execution, live market reports, and a user-friendly interface.
On the other hand, WebTrader is a pretty lackluster online terminal with just some basic charts and graphs. But, TCM put a bit more effort into developing its web platform so it’s slightly above average.
Trade Capital Markets has made it pretty clear that customer service is a priority to them. The representatives, or agents, are accessible, knowledgeable, and pleasant to deal with. They are dedicated to delivering excellent customer service and acting as a trustworthy broker by going above and beyond to meet the demands of their clients.
You may reach out to customer service by phone or email. Over 100 account managers work for the broker, focusing on a variety of client needs. Trade Capital Markets also promises to provide fast with its own dedicated platform.
You’ll need to fill out the website’s query form if you want to send an email. Simply provide the required information, such as your name, phone number, email address, and message. After that, a professional agent will contact you.
The phone number is another way to reach Trade Capital Markets. Simply choose the country you want and dial Trade Capital Markets. All outgoing calls will be charged according to the city’s tariffs indicated in brackets. These will differ depending on your phone operator.
As far as educational materials go, they do not offer much:
But unfortunately, you cannot access it from their website before you sign up for a demo or live trading account. However, they do have a FAQ section where you can find a lot of valuable information about trading.
This is great, especially for all of those who are new to trading and may be hesitant to ask many questions. Compared to the other brokers on the market, the level of analysis this broker provides is not that much.
Both beginners and advanced traders will find the information easy to grasp and very useful in making trading decisions.
Trade Capital Markets Overall Summary
In this Trade Capital Markets review, we talked about this well-established broker. They are based in many countries across the globe, including Cyprus, the UK, South Africa, and Mauritius. Additionally, the company is regulated by some of the best regulatory bodies in the world which are CySEC, FCA, FSCA, and FSC, and has many security measures to ensure a safe trading environment.
With this broker, you will get access to multiple trading platforms which include web trader, MT4, and MT5. As for trading instruments, it’s safe to say your options are not limited in any way as they offer plenty of them including Forex. Commodities, Shares, Indices, Bonds, Crypto, and much more.
Trade Capital Markets also offers a demo account, dedicated customer service, and some educational material which can all help you make your trading journey as smooth as possible.
As for deposit methods, they offer the most common types such as credit/debit cards, wire transfers, Skrill, and Neteller. And the leverages can go as high as 1:290.
FAQs About Trade Capital Markets Broker
Can I have a Demo and Live Account Working at the Same Time?
Yes, you can have a demo and live account working at the same time with Trade Capital Markets.
What Trading Platform Does Trade Capital Markets Offer?
Trade Capital Markets offers web traders as well as MT4 and MT5.
What Is The Minimum Deposit at Trade Capital Markets?
The minimum deposit for clients of Trade Capital Markets is set at $10.
Is Trade Capital Markets a Safe Broker?
Yes, Trade Capital Markets is a regulated and licensed broker that is safe for both new or advanced traders.
Does Trade Capital Markets Offer a Demo Account?
Yes, Trade Capital Markets does offer a demo account for any new potential clients to try out their services before signing up.