365 Trading FX

Overview of 365 Trading FX

Founded in Australia in 2019, 365 Trading FX is an unregulated exchange offering a variety of trading options, including forex, commodities, indices, stocks, and some major cryptocurrencies like Bitcoin and Ethereum.

While it serves experienced traders with margin trading and multiple deposit/withdrawal methods, it lacks transparency due to its unregulated status. Users might face limited customer support, withdrawal fees, and potentially a restricted selection of altcoins.

Pros and Cons

Pros:

• Various Trading Assets: 365 Trading FX offers a wide range of tradable instruments, including forex, commodities, indices, stocks, and cryptocurrencies.

• Margin Trading : This feature can potentially amplify profits, but it also comes with significant risks of magnified losses. It's crucial to understand and be comfortable with these risks before using margin trading.

• Multiple Payment Methods: Users have flexibility when depositing and withdrawing funds with options like credit cards, bank wire transfers, and Bitcoin transactions.

Cons:

• Unregulated Exchange: 365 Trading FX operates without regulatory oversight. This raises potential risks.

• Limited Cryptocurrencies Available : 365 Trading FX offers some major cryptocurrencies, it doesn't provide a wider range of altcoins.

• Withdrawal Fees: 365 Trading FX charges a fee for withdrawals, which reduces the net amount users receive when cashing out their profits.

• Lacking Customer Support: Many users report difficulties reaching customer support with long wait times and unresolved queries. This can be frustrating and leave users feeling unsupported in case of issues with the platform.

Regulatory Authority

365 Trading FX operates without regulatory oversight. This absence of regulation could lead to potential risks such as insufficient investor protection, lack of transparency, and increased susceptibility to fraudulent activities. Without regulatory scrutiny, 365 Trading FX's activities may proceed unchecked, potentially endangering investors and undermining market integrity.

Security

The security methods implied by 365tradingfx for their cryptocurrency trading platform are :

Wallet Storage:

Cold Storage: Reputable brokers typically store a large portion of user funds in cold storage wallets. These are not connected to the internet and are less vulnerable to online hacking attempts.

Hot Wallets: A smaller amount of funds might be kept in hot wallets for facilitating withdrawals and daily transactions. These hot wallets would have strong security measures in place.

Account Security:

Two-Factor Authentication (2FA): 365tradingfx offers 2FA as an extra layer of security for logging in and making transactions. This requires a second verification step beyond just your password, such as a code from your phone.

KYC/AML Procedures: To comply with regulations and prevent illegal activities, 365tradingfx requires users to undergo KYC (Know Your Customer) and AML (Anti-Money Laundering) checks. This would involve verifying your identity and source of funds.

Cryptocurrencies Available

365tradingfx offers cryptocurrency trading for several major tokens, including:

• Bitcoin (BTC)

• Ethereum (ETH)

• Litecoin (LTC)

• Ripple (XRP)

• Tether (USDT)

This selection focuses on well-established cryptocurrencies with high liquidity, which makes them suitable for margin trading.

Trading assets

365TradingFX offers a wide range of trading assets across various categories.

Forex trading enthusiasts can access a wide selection of currency pairs, including major, minor, and exotic pairs, allowing for extensive trading opportunities in the global forex market. Traders can engage in speculation on currency exchange rates and capitalize on market fluctuations to generate potential profits.

For those interested in commodities, 365TradingFX provides access to trading instruments such as gold, silver, oil, and other precious metals and energy resources. These commodities offer traders the chance to diversify their portfolios and hedge against inflation or geopolitical uncertainties through commodity trading.

Furthermore, the platform offers access to a variety of indices, enabling traders to speculate on the performance of global stock markets. Indices represent a basket of stocks from a particular region or sector, providing traders with exposure to broader market trends and economic indicators.

Additionally, stocks trading is available, allowing traders to invest in individual companies listed on major stock exchanges worldwide. Traders can analyze company fundamentals, market trends, and news to make informed trading decisions and potentially capitalize on stock price movements.

Moreover, 365TradingFX offers the opportunity to trade popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others. Cryptocurrency trading allows traders to capitalize on the volatility of digital assets and participate in the burgeoning cryptocurrency market.

Fees

365TradingFX imposes trading fees primarily through spreads, with the cost of trade averaging around 1.2 pips.

This spread cost is the difference between the buying (ask) and selling (bid) prices of a trading instrument. Additionally, traders should be aware of potential overnight financing charges for positions held overnight and any applicable swap fees for leveraged positions.

While 365TradingFX doesn't charge explicit commissions on trades, the spread represents the main component of trading costs. Traders should carefully consider these fees alongside other factors such as leverage and account type when evaluating the overall cost of trading with 365TradingFX.

Payment method

365TradingFX requires a minimum deposit of EUR 250, which is considered average for initiating forex trading activities. Additionally, the broker imposes a minimum withdrawal threshold of 100 USD/GBP/EUR. However, it's essential to note that each withdrawal from 365TradingFX incurs a 1% fee, impacting the net amount received by traders upon cashing out their profits.

Regarding payment methods, 365TradingFX offers multiple options for deposits and withdrawals. These include credit cards, bank wire transfers, and Bitcoin transactions. Notably, utilizing VISA or MasterCard is recommended due to their provision for chargebacks within 540 days from the transaction. This safeguard can provide added security for traders, particularly in case of disputes or fraudulent activities.

How to Buy Cryptos？

Buying Crypto on 365tradingfx:

Step 1: Sign Up and Verification

Visit 365tradingfx's website and navigate to the signup page.

Create a new account by providing your email address, creating a password, and agreeing to terms of service.

You need to undergo KYC (Know Your Customer) verification, which involves submitting your ID and potentially other documents to verify your identity.

Step 2: Fund Your Account

Once your account is verified, log in and navigate to the “Deposit” section.

Choose your preferred deposit method (e.g., bank transfer, credit card, supported e-wallet).

Follow the specific instructions provided by 365tradingfx for depositing funds. This might involve copying an account number or initiating a wire transfer.

Step 3: Find the Cryptocurrency You Want to Buy

Navigate to the “Cryptocurrency” section of the 365tradingfx platform.

• Search for the specific cryptocurrency you want to purchase (e.g., Bitcoin, Ethereum).

Step 4: Place Your Order

Since 365tradingfx offers margin trading, you'll have options for leveraged positions. Choose a margin option if applicable, understanding the associated risks.

Enter the amount of cryptocurrency you want to buy (considering leverage if applicable) or the amount of deposited funds you want to spend.

Step 6: Receive Your Crypto

Once your order is filled, the purchased cryptocurrency will be credited to your 365tradingfx account.

Services

365tradingfx offers the services as follows:

• Margin Trading : 365tradingfx offers margin trading, allowing users to leverage their positions to potentially amplify gains (but also magnify losses). This feature is risky and best suited for experienced traders.

• Basic Wallets: They provide internal wallets to hold your purchased cryptocurrency on the platform.

Is 365 Trading FX a Good Exchange for You？

Considering the possibility of margin trading with cryptocurrencies, 365tradingfx could be the best exchange for experienced traders comfortable with leverage.

365tradingfx might be suitable for the following target groups, considering the features it might offer:

• Experienced Margin Traders: 365tradingfx offers margin trading and a variety of cryptocurrencies, it could appeal to experienced traders comfortable with the high risks involved in leveraged positions.

• Active Crypto Traders: Active traders who prefer a platform focused on popular tokens and potentially lower fees might find 365tradingfx suitable.

Customer Support

365TradingFX's customer support is lacking, often leaving traders frustrated and dissatisfied. Many users report difficulties in reaching support representatives, with long waiting times on the phone and delayed responses to emails.

The contact options provided, such as the phone number +441706577418 and email address support@365tradingfx.com, seem inefficient as queries often go unresolved or are met with generic responses. Traders feel neglected and unsupported, leading to a sense of distrust and frustration with the platform.



FAQ

Q: Is 365 Trading FX a regulated exchange？

A: No, 365 Trading FX is not regulated, which means it operates without government oversight. This raises potential risks for investor protection and transparency.

Q: What cryptocurrencies can I trade on 365 Trading FX？

A: 365 Trading FX offers major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). However, the availability of altcoins is unclear and might be limited.

Q: What are the trading fees on 365 Trading FX？

A: 365 Trading FX charges spreads (around 1.2 pips) for trades.

Q: What payment methods does 365 Trading FX support？

A: You can deposit and withdraw funds using credit cards, bank wire transfers, and Bitcoin transactions.

Q: Does 365 Trading FX offer customer support？

A: Yes, 365 Trading FX offers customer support. However, users report difficulties reaching them, with long wait times and potentially unresolved queries.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.