Cyprus-based forex brokerage Trade360 said on Thursday it has launched a cashback reward program on its trading platform. In addition, the broker has also introduced an SMS Signals feature provided by UK leading signal provider Alliance. The two services are available to all Trade360 clients.
Trade360’s cashback program is fully automated and provides personalized amount of cashback, or rebates, to traders in dependence of their account balances. Clients receive rebates for each position they open transferred to their account balance. Cashback programs are an attractive way for brokers to encourage traders to be more active and many brokers offer them.
Trade360 is the first company to introduce a new trading concept called crowdtrading, based on a concept known as the Wisdom of the Crowd. It builds on the concept that collective knowledge of a large group of individuals tends to be more accurate than that of a single expert. Trade360’s CrowdTrading Algorithm consists of a number of tools that search for patterns in active traders’ activity. The algorithm shows traders sharp changes on specific assets and helps them make an informed trading decision. Some of the tools available on Trade360’s platform are Live Feeds, Trend Spotting, Trend Reversal (when movement on an asset abruptly changes direction), Moving Fast (recognises rapid Buy/Sell activity on a specific asset), Surge in Openings (when more Traders than usual choose to open positions on a specific asset), Growing in Trading(allows users to view the volume being traded on a specific asset), Possible Uptrend and Possible Downtrade.
The broker’s platform offers trading in forex, commodities, indices, stocks, contracts for difference (CFDs), and exchange-traded funds (ETFs). It is available in web and mobile versions.
Trade360 was set up in 2013 and is regulated by the Cyprus Securities Exchange Commission (CySEC).