Independent Broker Platform Review

By Tom Hougaard

31st July 2018

Today or tomorrow you’ll find that your broker will require 10 times more margin for your trades.

All of a sudden, a £10 bet in the FTSE requires £3,800 instead of £380 in margin.

It is not over though. You have the freedom to select a broker anywhere in the world you want. I have begun reviewing brokers around the globe.

Today I will present a broker from a legal jurisdiction that I consider safe and secure. It is regulated by ASIC, and Australia has an Ombudsman scheme. They offer 200:1 margin and also a bonus scheme.

Fact Sheet

Broker: TD365 – TradeDirect 365

Website: https://tradedirect365.com.au/

Country: Australia

Licence: ASIC

I have done a thorough review of the TD365 platform, but let me sum up the advantages and the disadvantages first.

Advantages of TD365

200:1 margin on indices and currencies and commodities – Welcome Bonus of 25% ( this means you get a 25% discount on the spread for the first month) – ASIC regulated – Cloud Platform and MT4 –FIXED spreads – Dow/DAX/FTSE 1-point spread – Easy platform to use – instant fills – no requotes.

Disadvantages of TD365

Platform a bit “5 years ago”, chart package is ok, but not great, it’s not spread betting but CFDs.

Review of TD365

I use various trading platforms in Europe but considering that ESMA as of the 1st August 2018 has reduced the amount of margin available to traders in the EU, there is a need for an awareness of what brokers outside of the EU have to offer.

These brokers are not allowed to advertise in Europe, unless they are regulated in Europe, but it’s a catch 22, because if they are regulated in Europe, they can’t offer the high margins.

TD365 is an Australian broker based in Sydney. They are regulated by ASIC, and they have received complimentary reviews by Australian traders.

They are a CFD broker, so for those of you who are you used to spread betting, it will take a little bit of a transition to convert to CFD trading.

Website

You can’t tell much about a broker by looking at their website. TD365 does have a chat function for anyone who wants to ask them questions. Otherwise, lets move on and look under the bonnet of the company.

Trading Platform

The platform is basic but very functional. It is a copy of the platform of Core Spreads and Finsa Markets in London.

The trading tickets are large and visible, which I quite like. You can have as many tickets open as you want.

Other good features are:

  • 1-click trading or 2-click trading
  • Stop-loss distance as little as 2 points
  • You can click a button to create a “HEDGE” trade

The One-Click Trading

The 1-click trading is very neat. You simply click “on” or “off”. I use it in “off” mode unless I am scalping.

You can also program your preferred trading size, so every time you launch a trading ticket, your normal size is displayed. I really like that feature. You simply type your preferred size in the box and click “save”. Job done.

The “Always Hedge” is a feature I don’t use. It means you simply open a trade in the opposing direction to the one you have open. I don’t see the point in that. It just means that I will have more trades to close eventually, unless I want to pay a lot of overnight charges.

The Enhanced Trading Ticket

The Enhanced Trading Ticket is a bit big and clumsy, but the flipside is that you can have very tight stop losses. Many brokers will have a minimum stop loss in say DAX or FTSE index at least 6 points but TD365 has a minimum of just 3 points.

The Alarm Ticket

The Alarm ticket is very easy to use. You simply input Buy or Sell and you input your alarm level. The disadvantage is that it gets sent as an email. There may be a function to send it to your mobile phone as an SMS, but I haven’t seen it.

The Charting Package

I think the weak link of the TD365 is their charting package. I actually think this is an unfair criticism, but I understand WHY people are saying it. The functions are clumsily laid out, and you probably have to invest a good 30 minutes to get to grip with all the features.

The charts have EVERYTHING you need, including trading from the chart. It is just that the layout of the charts which is not overly user-friendly. Other brokers such as ETX Capital have a much easier charting package to use.

The Mobile App

Another little quirk of TD365 is that if you search for their App on the App store, you won’t find it. You have to use the name of the App, which is CloudTrade (all one word). I don’t think that is very smart, but at least I called them and figured out how it worked.

Overall Impression

There are plenty of brokers in Australia, but most of them are MT4 brokers. I don’t approve of MT4, so if you are an MT4 trader, this review may not mean a whole lot to you.

TD365 is a stable platform, albeit a bit dated in look and feel. The trading tickets are visible and easy to use but the best part is the instant execution. I trade bigger size than the average trader and I get my fills instantly. I can scalp, if I want to. By scalping I mean in and out in seconds.

I use their charts, and I have no problems with them. Yes, I don’t make fancy drawings on them either. I know they have hundreds of indicators and Fibonacci and Gann and so forth, but I really do not care for that.

The conclusion is that I see past the somewhat dated trading platform and the not so user-friendly but very comprehensive charting package, and I relish the tight fixed spreads in all their offerings and the 1-point spread in Dow/DAX and FTSE.

8 thoughts on “Independent Broker Platform Review

  1. Tom, I wonder what UK CFD brokers will do once the UK finally leaves the EU. Do you think they’ll revert back to 200:1 or so margins, and will some of them offer accounts to EU residents?

  2. Dear Tom, Can I just say thankyou for going into this for us…very helpful and nice to know that there is a viable option for us still…thanks again.

  3. I don’t no if anyone else has noticed but both brokers Corespreads and TD365 reduce margin requirement if you add a stop loss to your trade.
    Other brokers such as Etx, IG, CMC etc don’t offer this.

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