This broker is under the management of FXGlobe Ltd., an experienced company based in Cyprus, which means that Tradeo is subject to the strict directives of the European Union, and is regulated by the Cypriot Securities & Exchange Commission. It operates under the license number 205/13. Moreover, the company has the support of renowned venture capital companies.
- CySec regulated
- Currency pairs EUR/USD as of 2,2 Pips
- Maximal leverage of 1:200
- Up to 50 underlyings
- Very easy operations
- Chat, Phone, Skype and E-Mail Support
This broker is under the management of FXGlobe Ltd., an experienced company based in Cyprus, which means that Tradeo is subject to the strict directives of the European Union, and is regulated by the Cypriot Securities & Exchange Commission. It operates under the license number 205/13. Moreover, the company has the support of renowned venture capital companies. According to the European directives, Tradeo must always keep customers’ money separate from company money. In case of bankruptcy customer money is thereby safe. The broker is also a member of the Deposit Protection Fund ICF, which means customer money is secured to at least 90% and with a maximum amount of 20.000 pounds. Therefore, traders don’t have reason to worry in any way about the safety of their invested capital. The broker’s official website makes a positive impression with its professional and sleek look, and is available in a number of languages.
Trade is based on the popular STP-model. The broker sends all trades directly to the respective liquidity providers, and doesn’t profit from its customers’ losses. Traders can choose between 100 forex and CFD trade instruments, among which 50 currency pairs and various contracts for difference on shares, indexes and commodities. The forex field includes all popular majors such as GBP/USD, EUR/USD and USD/JPY, as well as some exotic currencies. In CFD trade, the broker also restricts to the most important assets. Its offer includes the most popular indexes, all important commodities and various shares from big companies. Compared directly to other brokers, Tradeo’s asset index isn’t necessarily very rich, yet the available selection will prove more than enough for beginners, advanced and experienced traders alike. Tradeo’s terms for trade stay on the average level customary on the market. Traders don’t have to pay any fees besides the spreads. Due to the STP market model the spreads are variable, and they depend on the respective underlying asset. For example, the spread is of 1,9 pips for the popular currency pair EUR/USD, while the spreads for exotic currencies – which are traded much less – are accordingly higher. For the exotic currency pair EUR/HKD the spread is of 8,2 pips. One of Tradeo’s particularities is the possibility of limit and stop placements with a small difference to the market price of only 0,1 pips. This broker offers a maximum leverage of 1:200. This way traders with relatively low turnover can already afford a very high trade volume, which does indeed come with the price of increased risk. Regarding the trade possibilities, traders have all usual trade strategies at their disposal, such as the Fallen Angels strategy or the Scalping strategy. A further particularity of Tradeo is social trading, which can be used in CFD and forex trade.
Tradeo uses two different trade platforms. On the one hand it uses the popular MetaTrader4, which offers many functions, as well as a very clear and easy-to-use interface. The software can be installed on the computer for free, and it can be customized according to individual needs. Among the advantages of MetaTrader4 are the many indicators, one-click trades, versatile order possibilities, the use of expert advisors and complex back testing. Additionally, Tradeo offers the trade platform SWT, which doesn’t have to be installed on the computer, and which can be used directly in the browser. We’re looking at a very good combination between CFD and forex trade with social functions. Customers can look at recommendations from other traders, and even copy their strategies with just one click. Traders can communicate with each other using the Social Feed, and they can support each other. In the social charts traders can see all trade activities of the users they follow. Trades can be automatically copied from experienced traders via autopilot. Of course, it’s the beginners who take most advantage from the social trading indicators. Experienced traders can use many technical indicators such as Moving Averages, Relative Strength Index or Bollinger band. Forex and CFD traders who work when they’re on the move can take full advantage of a free app. The only drawback is that this app only works with the operating system iOS (iPhone and iPad), but in the future a new Android app will become available. Those who want to get a more detailed idea of Tradeo’s offer can first test it using a free demo-account. This account offers traders all functions and possibilities of both trading platforms SWT and MetaTrader4.
|Spread €/$||2,2 Pips|
|Min. Trade||0,01 lot|
|Deposit||Creditcards, Bankwire, Skrill, Neteller, TrustPay|
You can open a trade account with Tradeo in only a few minutes. Traders that make use of social platforms such as Facebook can sign in with the data they use for this social platform. Once the e-mail address is verified, you can already make your first deposit. For this purpose traders can choose from different possible payment methods. Tradeo supports among others credit cards, giropay and instant transfer. Besides the classic payment methods, customers also have the modern e-wallets from Neteller, Skrill and the Paysafecard at their disposal. Depending on the chosen payment method, the money is transferred either immediately or shortly to the trade account. Tradeo does require a minimum deposit of £250. There are no different account types available. Customers can use the same payment methods for outgoing payments, which are usually processed within one workday. While money transfer to the bank account can take up to 5 workdays, an outgoing payment effected via Skrill or Neteller is usually processed in maximum 24 hours. Each customer has to verify identity with Tradeo, for which purpose a copy of the ID and a certificate of residency are required. Customers who wish to effect or receive payment via credit card also have to send a copy of the credit card.
Tradeo’s customer support is available for traders Monday to Friday. On trade days customer support is available 24/7, and can be contacted either via e-mail or directly via live chat. Moreover, traders have the possibility of calling the Cypriot support phone number. The support team processes your inquiries quickly and professionally. The broker offers its customers training possibilities and support material such as free webinars. Moreover, traders can use an economic calendar, which is directly linked to the social web-trading platform. In this calendar traders find all important events that influence trade.
Tradeo is one of the newer forex and CFD brokers on the market, but it makes up for this small disadvantage with its particularities. It’s definitely a reliable and safe provider, it’s regulated by the Cypriot Financial Supervisory Authority, and it must observe the strict EU directives. A trade account is easily created. With its around 100 underlying assets Tradeo’s asset index isn’t one of the largest in the field, but it still offers enough currency pairs, shares, indexes and commodities. Customers can trade all main currency pairs, but also some exotic currencies. The spread doesn’t surpass the average market level, and there are no additional fees. As trade platforms Tradeo uses the popular MetaTrader4, which meets pretty much all needs. Besides a version that can be installed on the computer there is also a mobile app, which only works with the iOS operating system at the moment. An especially great advantage Tradeo offers is the social trading platform, which allows inexperienced traders to benefit from the experts’ trade strategies and copy them one-to-one. Thanks to its many functions, social trading can prove an advantage for experienced and professional traders as well. Customer support can be contacted easily and anytime via e-mail or live chat. Sadly there’s no signup bonus or other prizes. Still, Tradeo has much fewer disadvantages than advantages. This broker is totally worth recommending for forex and CFD trade.