TradeConnect is a relatively new cryptocurrency trading platform that connects traders to both traditional global financial markets and new digital asset markets such as Forex, Stock Indices, Commodities, and Cryptocurrencies.
Traders on TradeConnect gain access to all these financial markets in one platform that features robust security and an intuitive user interface. In this review, we explore the TradeConnect Network and outline its trading markets, financial assets, and various features such as base currency wallets, charting tools, fees, and more.
TradeConnect Platform Overview
TradeConnect lets you trade Forex, Stock Indices, Commodities, such as Gold and Oil, and Cryptocurrency CFDs such as BTC/USD and ETH/USD with bitcoin or ethereum.
Currently, the cryptocurrency margin trading platform supports over 50 financial assets and is available in over 100 countries. Here is a breakdown of supported currencies, financial markets, and countries:
Base-cryptocurrencies you can use for margin trading:
- Bitcoin (BTC)
- Ethereum (ETH)
- ThinkCoin (TCO)
Financial markets available on TradeConnect:
- Forex Pairs including EUR, USD, JPY, AUD, GBP, CAD, CNH, ZAR, CHF instruments.
- Stock Indices including NASDAQ, DOW, S&P500
- Energy assets including US Crude Oil (WTI), Brent Crude Oil (BRENT) and Natural Gas (NGAS)
- Precious Metal assets including Gold (XAU/USD), Silver (XAG/USD), and High-Grade Copper (Copper)
- Cryptocurrency CFDs including bitcoin (BTC/USD), and ethereum (ETH/USD)
How To Trade On TradeConnect
To get started, you need to download the TradeConnect application from the App Store. Next, you simply create an account. This process is very swift and you will be trading in 30 seconds. You only need to provide an email and password to join.
You then select either BTC, ETH, or TCO as your base trading currency wallet. A base currency is simply the currency that you are going to use to trade with. If you select bitcoin (BTC), it means that you intend on trading the markets using bitcoin.
You can set a long or short position on several financial markets based on the best global prices with up to 100x leverage.
Trading assets range from 36 Forex pairs, 14 global stock indices, and 6 commodity markets, including Gold, Oil, and Natural Gas. BTC/USD and ETH/USD are the only two Cryptocurrency CFDs supported at launch, with more to come soon.
The TradeConnect network offers traders a variety of powerful charting tools, including 101 common indicators, 9 TrendRisk indicators, 57 drawing tools, and over 12 different chart types. There’s also multi-chart views for those who prefer 2 or 4 interfaces.
Margin Trading on TradeConnect
Margin trading is a lucrative trading method where you can get more exposure to an asset than you have put down in funds. This is mostly referred to as making money on “borrowed funds” and ultimately lets you enhance your returns by a particular factor.
Trading on margin allows you to short or long an asset. This means you can make money based on the price action or price speculation of an asset. On TradeConnect, the maximum leverage is 100:1 with a few assets at 25:1 and 5:1.
TradeConnect has some of the lowest Maker and Taker fees of any crypto margin trading platform in the industry. This is primarily due to TradeConnect’s unique trading ecosystem whereby users pay a “Connect Fee” to open and close a position.
This “Connect Fee” is then given back to active traders in the form of daily fee rebates. For TCO, Makers receive 50% and Takers 25% of the ‘Connect Fee’.
In addition, unlike other crypto margin trading platforms, TradeConnect cannot hide fees in their spreads as all trades are 100% transparent due to its central limit order book model which means you can see every single trade placed on the platform within their order book on the platform.
This is a huge advantage for crypto traders as you do not have to worry about the platform hiding fees in the spread or trading against its traders. To test this, all you need to do is set up a limit order and place your trade at the exact price you want to buy or sell. The trade will always execute with the best price at the best time.
There are also no withdrawal fees or deposit fees on TradeConnect.
TradeConnect Verification And Limitations
KYC verification is only required on TradeConnect when you reach $10,000 or equivalent in value for either deposits or withdrawals.
There are no minimum or maximum deposit thresholds, and no minimum withdrawal thresholds.
However, there is a maximum daily withdrawal limit of 1 BTC or equivalent in value. Swap fees may also be incurred for holding positions overnight.
Other Important Features
Security: TradeConnect uses institutional-grade protocols to secure the platform. A 100% cold storage technology in bank-grade Class III vaults is used to secure user funds. Cloudflare is also used to prevent DDOS attacks.
$100 Million Insurance Fund: BitGo is the custodian and insurance provider for the TradeConnect platform. The insurance policy ensures TradeConnect is covered for $100 Million dollars in the event of third-party hacks, or theft/loss of private keys.
BitGo is known to be a leader in institutional digital assets.
TradeConnect Customer Support
TradeConnect has fast and dependable customer service which can be reached via the website directly in live chat or through the Telegram group which offers 24/7 support.
Support staff are well trained, multilingual and are spread across different time zones making it easy for users to get help.
Frequently Asked Questions About TradeConnect
Does TradeConnect have good liquidity?
Despite the fact that TradeConnect is a new cryptocurrency exchange, it has a guaranteed deep liquidity pool. TradeConnect has partnered with Tier 1 globally regulated firms that ensure liquidity.
Compared to similar crypto margin trading platforms in the space, TradeConnect provides a unique offering for crypto traders. Not only are their fees lower but they have also provided traders with more financial markets aggregated into a single, easy-to-use platform therefore also saving traders time and money.
PROMO: You can download the TradeConnect app now and get a $5O bonus in ETH or BTC when you complete your first 10 trades.