TradeFW Review

TradeFW (formerly BO360) is the trade name of iTrade Global (CY) Ltd. It is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 298/16.

The TradeFW product portfolio consists of 54 assets distributed in 37 currency pairs, 3 commodities, 5 indices, 2 cryptocurrencies, and 2 shares.

TradeFW offers one the industry’s most popular and advanced trading platforms – MetaTrader 4 (МТ4), which guarantees to meet the individual needs of each trader. МТ4 combines fast order execution no dealing desk intervention, an intuitive user interface and an plenty of customizable features and it is suitable and efficient terminal for traders of all levels. The platform is available as a desktop version and as a mobile application for iOS and Android devices. In addition, there is a web-based version that allows you to trade from any major browser and operating system without the need to download additional software.

There are three types of trading accounts for retail traders that differ mainly in the minimum deposit amount and spreads provided. The Standard account requires USD500 to open and the spread for the EUR/USD pair starts at 2.7 pips. The most popular account is the Gold one, the company says. You must invest at least USD3,000 to open it and the spread for the major currency pairs will be as low as 2 pips. The minimum deposit for the VIP account is negotiable and the spread for major currency pairs starts at 1.7 pips. Customers can fund their accounts by bank transfer, credit/debit card, Neteller and Skrill.

The Terms and Condition document shows that the company operates on a “negative balance protection” basis, which means that the client cannot lose more than the overall investment per trading account. The same document informs that the company enters into transactions with the client as an agent since the company will transmit orders to Liquidity Providers/Market Makers for execution. It is also written that the company arranges for the execution of client orders with another entity (the Liquidity Provider/Market Maker) and does not execute them itself as a principal to principal against the client. This means that TradeFW uses the STP (Straight Through Processing) model to execute orders and there is no conflict of interest as with the market makers. You can also find out that the company cannot guarantee that an order will be executed at the level specified in the client order. In such an event, the company will execute the client’s orders (Buy/Sell, Close at a Loss, Close at a Profit, Stop Loss, Take Profit etc.) at the next best available price. This means that all orders are subject to slippage and stop loss orders are not guaranteed.

Overall, TradeFW is a CySEC-regulated company that uses the STP model for order execution and provides negative balance protection for retail clients. You can trade through the most popular terminal – MT4. However, there are only a few trading instruments available and trading conditions are not competitive (wide spreads and high initial deposits).