Tradeo Review

WHO IS TRADEO?      

According to research in South Africa, Tradeo is a STP broker that has been in operation in 2012 and is based in Malta, Cyprus. Tradeo is well-regulated through FSCA and CySEC in facilitating the trade of over 200 financial instruments over numerous asset classes.

Tradeo supports the use of one of the most powerful trading platforms through which trading activities can be conducted and has superior customer support that operates 24/5 to accommodate any, and all, queries that traders and other clients may have.

SAFE OR SCAM?

When evaluating different brokers, it is imperative for traders to research and thoroughly compare brokers firstly based on regulation before considering several other factors.

Tradeo is a reputable, reliable, and well-regulated broker who has regulation and authorization through FSCA and CySEC. Tradeo keeps client funds in segregated accounts separately from company funds and these funds are only for executing trades.

In addition, Tradeo is operated by UR TRADE FIX, Ltd. which is a Cyprus-based Investment Firm, or CIF, which is subsequently regulated and supervised by CySEC.

PRO AND CONS

LEVERAGE

Leverage is an extremely useful tool which can be used to increase the chance of gains and profit by allowing traders to open positions much larger than their initial deposits.

When using leverage, traders should acknowledge that the risks involved with incurring losses is increased and often these losses may exceed the trader’s initial capital should the trader not be covered by negative balance protection provided by their broker.

Tradeo offers restricted leverage of between 1:10 and a maximum of 1:40 which is determined by the type of account the trader uses. These restrictions are intended to minimize the risks, but these risks are not eliminated.

ACCOUNTS   

Tradeo offers a choice between five different accounts, each with its own minimum deposits, leverage, and variable spreads, but with the same access to all asset classes and tradable financial instruments.

The accounts, and their features, offered by Tradeo include:

• Standard Account – minimum deposit of $250, variable spreads, and leverage of 1:10 with access to an account manager and a few educational resources and tools.
• Silver Account – minimum deposit of $10,000, variable spreads, and leverage of up to 1:20 with the provision of a senior account manager, platform walkthrough and technical educational tools and resources.
• Gold Account – minimum deposit of $25,000, variable spreads, and leverage up to 1:30 with an executive account manager, and various educational resources.
• Platinum Account – opening balance of $50,000 and leverage up to 1:40 with variable spreads, the provision of an executive account manager, and various educational tools and resources.
• Diamond Account – initial opening balance of $500,000, leverage up to 1:40, variable spreads and unlimited access to a Diamond Account Manager during market hours along with a variety of educational tools and resources.

The information to commissions cannot be derived from Tradeo’s website as there are limitations on access from certain jurisdictions, such as South Africa. Previous reviews report commissions of $13.89 when trading EUR/USD.

The spreads offered by Tradeo are competitive and variable, but they are also fairly wide when compared to what other brokers offer, with spreads from as little as 0.0 pips on more advanced accounts.

Tradeo makes provision for both demo accounts and the option to convert a live trading account to that of an Islamic Account for Muslim traders governed by the Sharia law which prohibits interest, such as overnight fees, be paid by its followers.

MARKET INSTRUMENTS

Tradeo offers over 200 tradable financial instruments which includes:

• Forex
• Cryptocurrencies
• Commodities
• Indices, and
• Stocks

Tradeo offers access to several Forex Major, Minor, and Exotic pairs along with a wide variety of commodity CFDs which can be traded by using the MetaTrader 4 trading platform which allows access to three different financial markets.

The commodities that Tradeo offers for trade include:

• Gold
• Silver
• Platinum
• Sugar
• Wheat
• Corn, and several more.

Tradeo also provides traders with access to popular indexes such as Dow Jones 20, FTSE, IBEX, DAX 30, CAC40, and NIKKEI-225.

Stocks offered by Tradeo include, but is not limited to:

• Coca-Cola
• Allianz, and more.

Tradeo also offers the trade of numerous cryptocurrencies that include Bitcoin, STEEM, Ethereum, and several more.

FEES

Although Tradeo’s minimum deposit for the entry-level Standard Account is average when compared to other brokers, the other accounts it offers have minimum deposits that increase gradually to substantially higher amounts.

Tradeo is at a bit of a disadvantage in this regard as there are numerous other brokers who offer similar trading conditions with lower minimum deposits on more premium accounts.

Tradeo offers variable spreads with low commissions that start at $13.89 when trading EUR/USD. Additional information on fees cannot be derived from the broker website due to a jurisdiction lock that prevents access to the website.

Previous reviews on the broker do not suggest substantial information pertaining to trading-fees and traders will have to verify these fees with the broker before considering registering for a live trading account.

Tradeo does not charge deposit fees, but there are fees charged on withdrawals made through Bank Wire Transfer.

When using Bank Wire Transfer to withdraw funds from the trading account, there is a fee of $30 or currency equivalent in EUR and GBP, with withdrawals of up to $10,000 and 0.3% for withdrawals exceeding this amount.

In addition, Tradeo charges an inactivity fee of $22 or currency equivalent in EUR and GBP should the trading account become, and remain, dormant for a period of up to 90 days.

DEPOSIT AND WITHDRAWAL

Tradeo supports a variety of popular payment methods which includes:

• Bank Wire Transfer
• Neteller
• Skrill, and
• Credit/Debit Cards.

Tradeo only supports three deposit currencies namely USD, EUR, and GBP.

TRADING PLATFORMS

Tradeo supports the use of MetaTrader 4, which is the most popular, reliable, highly customizable, and user-friendly trading platform offered by most brokers and used by millions of traders around the globe.

MetaTrader 4 offers an array of features that provide traders with the best trading environment along with a unique, comprehensive trading experience.

MetaTrader 4 can be downloaded onto the following devices:

• Desktop PCs that run either Windows, Linux, or Microsoft.
• Mobile devices that run Android or iOS operating systems, or alternatively,
• The trading platforms can be accessed through any web browser.

HOW TO OPEN AN ACCOUNT

To open an account with Tradeo, traders are taken through a simple, quick, fully digital process on the broker’s website that can be accessed by clicking on the ‘Sign Up’ banner located in the top right corner of the homepage.

The trader will be redirected to an online application that will require some information such as personal details, financial, employment, and other information in addition to questions pertaining to the trader’s trading and financial experience and exposure.

Traders will be required to partake in the ‘Know Your Client’, or KYC, process which involves the submission of documents to prove the trader’s identity as well as their residential address.

Once all the information, in the form of a completed online application, and supporting documents have been received, the application will be processed, and traders will be informed of the outcome of their application.

Once the account has been approved, traders will be able to fund their account with the minimum required amount, and trading can commence.

CUSTOMER SUPPORT

Tradeo offers superior and dedicated customer support which is available 24/5 to tend to traders’ queries. Tradeo customer support can be contacted by:

• Email
• Telephone, or alternatively
• By making use of the live/instant chat function presented on the website.

In addition, Tradeo is also available on popular social media platforms such as Facebook, Twitter, and LinkedIn.

EDUCATION       

Tradeo caters extensively for the provision of educational material, tools, and resources. The following is offered to traders who open, or possess, a live trading account:

• Tradeo Tube – which is a collection of educational videos that cover an array of topics including technical indicators, an introduction to technical analysis, and weekly market reviews.
• eBooks – which teach traders how to trade online, how the can manage their risks, the various trading analysis techniques, and more.
• Trading glossary – which features a vast range of trading terms along with detailed explanations.

RESEARCH         

Tradeo provides the following research tools:

• Sentiment tools, and
• An economic calendar

AWARDS

There are no awards mentioned for this broker.

CONCLUSION  

Tradeo offers traders, both beginners and more experienced traders, comprehensive and extremely competitive trading conditions in addition to being a well-regulated and reputable broker.

Tradeo offers several accounting options, each with its own set of features that comprehensively caters for traders who have varying trading needs and objectives along with skill, knowledge, and experience.

The minimum deposits on most of the accounts is substantially higher than what other brokers require while offering similar trading conditions, and this puts Tradeo at a slight disadvantage.

Tradeo offers an adequate amount of education and resource tools provided to traders, with the added benefit that MetaTrader 4 offers more resource tools which are at the disposal of traders.

DISCLAIMER

Tradeo warns traders of the risks involved with the leveraged trading of financial instruments that may exceed initial deposits if negative balance protection is not applied.

Traders need to adequately evaluate their trading objectives along with their exposure to risk, willingness to be exposed to such risks and whether they will adequately be able to mitigate such risks and minimize losses through risk management protocols.

FAQs

TRADING ENVIRONMENT

How many instruments can I trade with Tradeo?

You can trade over 200 financial instruments with Tradeo, including:

• Forex
• Cryptocurrencies
• Commodities
• Indices, and
• Stocks

Which platforms are supported by Tradeo?

Metatrader 4.

Does Tradeo offer leverage?

Yes. Tradeo offers leverage of up to 1:40.

What spreads can I expect with Tradeo?

Variable spreads. This information is not accurately indicated and varies too greatly between previous reviews to be able to make an accurate conclusion.

Does Tradeo charge commission?

Yes. Commissions from $13.89.

Is Tradeo regulated?

Yes. Tradeo is well-regulated through FSCA and CySEC.

Is Tradeo a recommended forex trading broker for experts and beginners?

Yes. Tradeo is recommended for use by beginners and experts.

What is the overall rating out of 10 for Tradeo?

8/10

ACCOUNTS

What is the difference between a demo and live trading account?

A Demo Account is a risk-free account which is funded by virtual money and allows traders to either practice trading, explore the brokers offering, or test trading strategies in a mimicked live trading environment.

Does Tradeo offer a demo account?

Yes.

For how long is the demo account valid?

This information is not available but when generally comparing demo accounts between brokers, the frequent term is 30-days.

Which live trading accounts does Tradeo offer?

• Standard Account – minimum deposit of $250, variable spreads, and leverage of 1:10 with access to an account manager and a few educational resources and tools.
• Silver Account – minimum deposit of $10,000, variable spreads, and leverage of up to 1:20 with the provision of a senior account manager, platform walkthrough and technical educational tools and resources.
• Gold Account – minimum deposit of $25,000, variable spreads, and leverage up to 1:30 with an executive account manager, and various educational resources.
• Platinum Account – opening balance of $50,000 and leverage up to 1:40 with variable spreads, the provision of an executive account manager, and various educational tools and resources.
• Diamond Account – initial opening balance of $500,000, leverage up to 1:40, variable spreads and unlimited access to a Diamond Account Manager during market hours along with a variety of educational tools and resources.

What are the available deposit currencies for a live trading account?

USD, GBP, and EUR.

DEPOSITS AND WITHDRAWALS

What is the minimum deposit for Tradeo?

$250.

How do I make a deposit and withdrawal with Tradeo?

• Bank Wire Transfer
• Neteller
• Skrill, and
• Credit/Debit Cards

Does Tradeo charge withdrawal fees?

Yes. There is a fee of $30 or currency equivalent in EUR and GBP when making withdrawals up to $10,000 through Bank Wire Transfer with an additional 0.3% fee for withdrawals that exceed this amount.

How long does it take to make a withdrawal?

This will depend on the method through which withdrawals are made along with the process involved and generally it can take between one and several business days.