Tower Trade 360 offers traders a journey into the digital future. The broker is sure that you need to prefer it to all competitors. Since in this industry there are a lot of scams, such assurances should be treated with caution. We will carefully check whether the company deserves high marks or if it is not even worth paying attention to it.
- Tower Trade 360 General Information
- Registration and Client Portal Review
- Tower Trade 360 Trading Conditions
- Account Types Review
- Trading Platform
- Tower Trade 360 — Deposit and Withdrawal of Funds
- Additional Options
- Is Tower Trade 360 a Scam?
- Legal Information and License
- Towertrade360.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Tower Trade 360 General Information
|Phone Number||+442038073024 (WA)|
Registration and Client Portal Review
The official Tower Trade 360 website is very concise. We would even call it minimalistic. The content is absolutely meaningless. The broker insistently lists its advantages. The truth is that there is nothing among pros that other brokers would not have. The only useful information on the main page is the description of the accounts. Some sections on the site are generally very strange. For example, the Corona Crisis News is a completely useless section. First, it is no longer relevant. Second, there are 5 news items with a length of one line there. The broker needs to work on its website.
Tower Trade 360 allows traders to open a demo or a real account. To register, you need to fill out a form with personal data. The broker is strikingly negligent about customer safety. The platform does not support two-factor authentication. Your email and phone number will not be checked. As soon as you fill out the form, you will immediately get access to your personal account.
The Client Portal looks as simple as the official website. All functions here are absolutely standard. You can top up your account or withdraw money. In addition to financial transactions, there is the possibility to check order history. There is also a link to the web terminal. You can contact support or change your personal data.
Tower Trade 360 Trading Conditions
We do not know what digital future Tower Trade 360 is talking about. The broker does not provide anything innovative. You will be able to trade CFDs on this platform.
Account Types Review
Tower Trade 360 decided that its account types should be original. Therefore, it designed them in the style of chess.
- So, the account for beginners here is called Trading Pawn. It needs to be deposited with at least $500. The trader will receive a stumble only to a limited number of assets, a small leverage up to 1:20, and some related services. At the same time, fees range from 1 to 7%.
- The next account is Trading Rook. It needs to be funded with at least 5 thousand dollars. The trader will get access to the basic assets. However, what exactly they include is not specified. Leverage is increased, up to 1:50. From additional services, the client will get access to webinars, as well as weekly trading signals.
- You can open a Trading Bishop account if you deposit 10 thousand dollars. Then you will get access to advanced trading assets. Again, what is included in this concept is not explained. The client is also offered support team member services, monthly reports, and reduced swaps from 0.2.
- Finally, the Trading King account should be deposited in the amount of at least 50 thousand dollars. Leverage is up to 1:100. The client will get full access to all trading assets, analytics services, and weekly reports.
Thus, Tower Trade 360 does not provide any exclusive services. On the contrary, the size of deposits is quite overpriced for a standard broker. Restrictions on asset trading are also not encouraging. Usually licensed brokers give access to all trading instruments. We would call these trading conditions rather unfavorable.
The trading terminal also disappointed us quite a lot. It cannot be downloaded directly from the PlayMarket and App Store. The web version doesn’t load either. We don’t know if these are temporary problems or not. When we tried to open the platform, we failed.
Tower Trade 360 — Deposit and Withdrawal of Funds
Tower Trade 360 offers to use SWIFT bank transfers, credit cards, and cryptocurrency to deposit. The same methods can be used to withdraw money. Obviously, there are commissions for withdrawal. They are specified in the account types. The speed of transfers depends on the chosen payment system. The transfer to a bank card takes 3-7 days. The transfer period of SWIFT is 7-14 days. And bitcoins will be credited to your wallet within 1-24 hours.
Tower Trade 360 supports AML and KYC policies. Therefore, customers need to pass verification. The broker’s requirements are standard. You will need to upload several documents to your personal account. To confirm your identity and place of residence, make color copies or scans of your passport (or ID card) and a bank statement (or utility bill). The time of document verification is not specified.
Additional Tower Trade 360 options hardly deserve your attention. There is a widget with real-time signals on the official website. Several assets are listed there and the probability of price movement in one of the parties is indicated. Of course, these signals are not accurate and come with a delay. Besides, personal managers and analysts work with clients. We don’t know what their professional knowledge is. So, we cannot assess the quality of their forecasts and analysis.
Is Tower Trade 360 a Scam?
So far, the company seems suspicious to us. Its services are definitely not similar to what licensed brokers offer. Let’s see in more detail whether it has the right to provide financial services at all.
Legal Information and License
Tower Trade 360 states that all relationships with the trader are regulated by the UK law. And this is very doubtful. British brokers are not allowed to offer retail traders leverage above 1:50. Also, they have no restrictions on asset trading.
On the UK registry, we found no mention of a management company called Tower Trade 360. Therefore, we conclude that such a company simply does not exist. If the broker is not registered as a legal entity, it cannot obtain a license. However, there is also absolutely no mention of Tower Trade 360 in the FCA. So this is a completely unregulated broker that provides services illegally.
Towertrade360.com Domain Info
Checking the domain also proves the fact that Tower Trade 360 is a fraud company. The site was created only in May 2022. This pseudo-broker has not even worked for a year yet. And it is unlikely to stay in the industry longer.
Tower Trade 360 offers clients to contact support via WhatsApp, write an appeal to Telegram, or send an email. The office address is not provided. However, as we have already understood, this is not surprising. Since the company does not officially exist, it is logical that there is no office either.
Pros and Cons
- A small minimum deposit.
- No legal registration.
- No license.
- Ridiculous additional services.
- Negative reviews.
- Short term of work.
- No addresses.
Frequently Asked Questions (FAQ)
Tower Trade 360 offers CFD trading and some related services.
The minimum deposit according to the broker’s trading conditions is at least $500.
No, of course not. Tower Trade 360 is not regulated by any supervisor and does not work in compliance with the laws.