Our Tradeo Review
Tradeo is a forex and CFD broker that was founded in Cyprus since 2011. It offers about 200 trading instruments for trading on its platforms. The broker boasts of modern technology and standard security practices which has resulted into speed, accuracy and reliability.
Tradeo insists that it operates the Straight-through processing (STP) model which is transparent and ensures tight spreads. The broker does not trade against its clients; rather trades are routed to the liquidity providers for execution while Tradeo acts as an agent who is compensated through commissions.
Pros
- Regulated by CySEC
- Multiple payment options
- Efficient and multilingual client support desk.
- Access to use the Robox trading machine.
- Quality analysis courtesy of Trading Central, market news, blog, etc.
Cons
- Clients from so many countries are not accepted.
- Withdrawal and inactivity fees are charged.
- Limited assets index.
Security and Regulation
The trading name ‘Tradeo’ is owned and operated by ‘UR TRADE FIX LTD’, which is a Cyprus Investment Firm (CIF). The company is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 282/15.
All deposits received from clients are kept in segregated accounts with tier1 banks. The parent company of Tradeo is a member of the Investor compensation funds (ICF). This means that if the broker becomes insolvent in the future, ICF will pay compensations up to €20,000 per client.
Tradeo has also implemented the standard practices of firewalls and digital security measures such as Secured Socket Layer (SSL). This encrypts clients’ data before transmission to the servers so that even if hackers intercept it, they will not be able to decode or steal important security info such as credit card numbers, etc.
Trading instruments
Tradeo clients can speculate on the following CFD assets:
- 50 forex pairs
- 15 commodities
- Over 120 stocks
- 28 ETFs
- 14 indices
- 6 cryptocurrencies
Fees and account types
Tradeo accounts can be maintained in USD, EUR or GBP. The broker states that it does not charge deposit fees but withdrawal fees depend on the method and currency used. The minimum deposit is €200 while the max leverage is 1:30 in compliance with ESMA provisions.
If no trade is opened from an account within 90 days, its status is changed to dormant and €15 is charged. Subsequently, €15 will be charged for every 30 days. Anytime Tradeo converts another currency into your account currency, a conversion fee of 0.5% is charged.
Standard account
Account deposits start from €1,000 and clients get a private one on one trading academy session. Standard commissions are charged on trades; for the benchmark EURUSD, about €20 is charged per lot, €100 commission is charged on exotic pairs and commodities.
Classic account
Account deposits start from €2,500. A relationship manager is attached to account holders who also participate in up to 3 one on one trading academy sessions. The same standard account commissions are obtainable.
Gold account
The deposit amount is €10,000 and account holders get a discount of 10% in trading commissions. They also get sms trading notifications, 2 private trading sessions per month and up to 4 one on one private trading academy sessions. Commissions on the EURUSD are €18 for one lot.
Platinum account
The minimum account deposit is €25,000 and a commission of 25% in trading commissions is given to account holders. They are also entitled to 4 monthly private trading sessions and about 8 sessions of private one on one trading academy classes. About €15 commission is charged for trading one lot of EURUSD.
Premium account
Account deposit starts from €50,000 and account holders enjoy the following:
- VIP services
- Up to 50% discount in trading commissions; EURUSD is €10 per lot.
- Sms trading notifications.
- 16 trading academy sessions, that is, one-on-one training.
- 8 private trading sessions every month.
Professional traders
Only clients who meet the qualifications can apply to become professional traders. This category of traders trade with higher leverages and are not entitled to account protection measures. Applicants much either have professional financial sector experience or huge assets portfolio or frequently trade satisfactory volumes.
Demo account
A practice account is automatic with registration and it comes with virtual funds of €100,000 already loaded in the demo account.
Deposit and withdrawal
Tradeo does not charge deposit fees but withdrawal fees depend on the method used. Generally the payment option available to you depends on your area of residence. The minimum deposit is €200 and must originate from the client’s account. Third party deposits are not allowed.
The minimum withdrawal amount should be above €15, $15 or £15. Withdrawal request submitted before 12:00 noon (GMT +2) will be processed on the same day.
Wire transfers
This is the universal method that can be used by any client from any accepted region. If the received fund is in a different currency with your account currency, it will be converted and conversion fees will apply. Wire transfers are charged €/$/£ 30 for transfers up to €10,000 and 0.03% for funds above the threshold.
Debit/Credit cards
Visa, Mastercard and popular cards are accepted. Deposits are free and processed instantly while withdrawals take more time and charged at £/$/€ 15. Max payment is €50,000.
Online payments
The online payment methods available are: Skrill, iDEAL, Giropay, Trust payments, Neteller, Rapid transfer, Worldpay, SafeCharge and emerchantpay. Withdrawal fees of $/£/€ 15 are charged irrespective of the online payment method used.
Account Opening
If you wish to start trading forex and contract for differences (CFDs) with Tradeo, visit the website and click on ‘sign up’. Enter your name, email, password, country and phone number. The countries in the list are mainly European countries and they are less than 40 countries. Proceed to answer the Questionnaire and other questions, upload your proof of address and ID card. Next, make a deposit; trading can start when your account is approved.
Trading platforms
All Tradeo clients are given access to trade on the MT4 trading platform. This platform has unofficially become a standard for most brokers and traders. It is widely used because of its capabilities. Below are some of its features:
- Its interface is simple and user friendly.
- It supports fast execution and multiple order types like pending orders, trailing stop, stop loss, take profit, etc.
- It comes with 3 chart styles and each can be displayed on 9 timeframes; ranging from 1 minute to 1 month.
- About 30 technical indicators and 24 analytical tools come with the MT4.
- Trading robots known as Expert Advisors (EAs) can be developed with the MQL4 language and deployed on the MT4.
- It supports plugin apps which add more features and expand the capability of the platform.
Tradeo clients have access to trade on the MT4 WebTrader which works on all internet browsers. Also, you can download the MT4 desktop version which is the premium version that supports the installation of EAs and plug in apps. Lastly, the MT4 android and iOS apps are also available.
Tools and Research
VIP program
Tradeo VIP program is targeted at frequent traders who trade large volumes. They are rewarded with discounts, access to trading tools, private trading sessions, sms notifications and quality education lessons with Tradeo analysts. The categories are:
- Diamond
- Elite
- Prestige
Trading Central
This is a popular financial research and fintech firm that provides technical analysis, signals, etc on a wide variety of financial instruments. Tradeo clients are now offered quality technical analysis and daily signals on forex and some other trading instruments. It is available via MT4 plugin downloadable from Tradeo website.
Robox
This is a sophisticated trading machine available to Tradeo clients. A trader simply answers a questionnaire that defines his trading strategies, risk management and his personality. The system searches its over a billion inbuilt strategies and creates a personalized strategy to suit the trader’s requirements. Setup time is fast, the strategy library is vast and risk management is customized.
Blog
Tradeo website features a blog that is regularly updated. The articles are educational but based on the current market news and analysis.
Market Review
A daily market review is updated on the Tradeo website. The comprehensive review highlights the market news and gives traders some trading insights on a range of instruments.
Economic Calendar
This is a customizable calendar of economic events. It shows the dates and times of events that usually affect the financial markets as well as the impact level, analyst forecasts and history.
Education
Video library
The Tradeo video lessons focus on forex trading lessons, technical analysis and MT4 tutorials. The video academy lessons are grouped into beginner, intermediate and advanced.
Customer care
Tradeo has a support team that is multilingual, available 24/5 and can be reached on various channels. Prospective and existing clients can fill the online form on the contact page of the website to reach the support team. You can also send an email to ‘support@tradeo.com’. The phone line is ‘+357 22222 113’ or you can fill the ‘call back’ form and the team will reach out to you. To chat with a team member; you can initiate a web chat on the website, chat on Telegram or on WhatsApp. On social media; Tradeo is on Instagram, Facebook and Twitter.
Summary
Tradeo is a forex and CFD broker that has been in existence for about a decade. It is regulated by the CySEC; which is a top regulator in Europe. Clients’ funds are segregated and the necessary digital security standards are in place.
The sophisticated MT4 is available in all its forms; desktop, web and mobile. Since it is an STP broker, the spreads are low, execution is fast and commissions are competitive. Analysis powered by Trading Central is available in addition to other tools.
However, the number of trading instruments is limited in comparison to the top brokers. The minimum deposit of €200 is also high. Withdrawal fees are charged per withdrawal; this fee is often waived by the top rated brokers. Tradeo’s services are limited to some jurisdictions.
Summarily, Tradeo is a regulated and experienced broker but needs to do a lot to become one of the top rated brokers in the world today.
This company does not exist so be careful …
I’m happy to share my experience on how i got my funds