Tradeo is an online Forex and CFD brokerage that we’ve reviewed at length. The Tradeo review found here includes our findings, including the positive and negative aspects of using this brokerage. The company maintains two distinct entities, Tradeo.pro and Tradeo.com which are owned by the same holding group. On the Tradeo.pro website it states that “Tradeo is operated under Delwyn Trading Ltd which is authorised and regulated by the International Financial Services Commission (IFSC) in Belize under license number IFSC/60/284/TS/17”. This claim, however, appears to be invalid; the Belize regulator published a list of financial firms which are no long authorized and regulated in Belize; the latest update was published on June 4th 2019 and it lists Delwyn Trading LTD. Trade.pro also lists a Cypriot entity, Adelane Trading LTD, with registration number HE323969 as its paying agent.
UR Trade Fix LTD operates Tradeo.com. UR Trade FIX LTD is a Cyprus Investment Firm (CIF) which is supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC) . It holds the CIF license number 282/15 and the company registration number is HE336677.
Delwyn Trading LTD and UR Trade Fix LTD are both part of the same holding group, Tradeo ST PTE LTD which is registered in Singapore with the registration number 201728941H. Given that the holding company which operates both entities is a live company, Tradeo.pro has been copyrighted in 2019 but still lists as being regulated by the International Financial Services Commission (IFSC) in Belize, Forex traders should be very careful when dealing with the Tradeo family of companies.
Tradeo.pro as well as Tradeo.com are both operational, with the former not being regulated anymore and the latter being regulated by CySEC. While the regulated entity (Tradeo.com) adheres to the rules and regulation of CySEC, it should not be ignored that the unregulated entity which continues to claim regulation (Tradeo.pro) are both part of the same holding group. This raises a major red flag when it comes to Tradeo as a brand.
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Regulation and Security
While the rest of this review will focus on the CySEC regulated entity Trade.com, it is important to clarify the relationship between Tradeo.pro and Tradeo.com in this section. Tradeo.pro continues to claim that it is regulated by Belize regulator IFSC. It does mention its Cypriot sister firm and confirms that both are part of the same holding company.
At the bottom of the Tradeo.pro homepage, they once again confirm the claim of regulation and the copyright is updated to 2019. This means that they had plenty of time to make the required updates but simply haven’t done so. The continued claim of regulation by the IFSC should not be taken lightly and may even be considered a criminal offense.
The IFSC published its latest update to the list of unlicensed entities on June 4th 2019 and it lists Delwyn Trading LTD, the operator of Tradeo.pro, as an unlicensed firm as set out by the regulator. The firms on this list are no longer authorized to carry out business as when they were authorized. Since Tradeo.pro willingly continues to operate as an online brokerage with the claims that they are regulated, the company is in violation of the Belize regulations and law.
Tradeo.com is indeed regulated by CySEC and operated by UR Trade Fix LTD operates Tradeo.com. The CIF license number 282/15 and the company registration number is HE336677.
Since the CySEC license is valid, Tradeo.com is subject to the rules and regulation of Cyprus as well as the EU. This includes Markets in Financial Instruments Directive (2004/39/EC) or MiFIID. It has been in effect since November of 2007 which was updated in January of 2018 with MiFID II/MiFIR. It also includes the 4th Anti-Money Laundering Directive passed in June of 2015 and UR Trade Fix LTD published the Pillar III Disclosures on their website while also participating in the Investor Compensation Fund (ICF).
From a regulatory point of view, Tradeo.com is in full compliance and looks good on paper, but when taken in conjunction with the company’s other questionable activities, traders should proceed with caution. Cyprus is home to stricter regulation and enforcement than Belize, but the concerns remain. The holding group which owns Tradeo.pro and Tradeo.com, Tradeo ST PTE LTD is registered in Singapore with the registration number 201728941H.
Please note that the rest of this review will focus on Tradeo.com, the CySec regulated entity of Tradeo ST PTE LTD Singapore.Back to Top
Tradeo.com generates the majority of its income from a mark-up on spreads, the difference between bid and ask prices. The broker operates an STP (Straight Through Processing) model which means that orders are send directly to liquidity providers who offer the best price/execution. Unlike market makers, Tradeo.com doesn’t trade against its clients. The firms also states that it doesn’t charge any commissions on trades. Spreads start as low as 0.9 pip and increase depending on the liquidity as well as asset traded.
The only other fees applicable remain swap rates which are charged on overnight positions, Forex traders can get the most accurate rates directly from their MT4 Trading Platform by following these steps:
1. Right-click on the desired symbol in the “Market Watch” window and select “Symbols”.
2. Select the desired currency and then click on “Properties” located on the right side.
3. Scroll down until you see “Swap Long” and “Swap Short”
Tradeo.com has also published this list in regard to swap rates:
Fees on deposits from Tradeo.com are waived, but third-party fees are still applicable. Withdrawals face different fees which depend on the amount requested and the method use. They start as low as $/€/£15 for credit card withdrawals and as low as $/€/£30 for bank wires under $/€/£10,000 while withdrawals above $/€/£10,000 are charged at 0.30% of the total amount. Online payment processor fees start at 1% of the total amount with a $/€/£15 minimum. Tradeo.com also charges an inactivity fee if the account was dormant for 90 days in the amount of $22/€20/£15. A 0.5% conversion fee is also charged for transaction different than that from the account base currency.
Overall, Tradeo.com comes loaded with fees which is another negative following its company structure through a holding company which owns a compliant, regulated online broker (Tradeo.com) and an unregulated part online broker (Tradeo.pro) which is in violation of the law and operates based on a criminal offence.Back to Top
What Can I Trade?
When it comes to selection of assets, Tradeo.com offers a good mix of currency pairs, cryptocurrencies, and CFD’s on stocks, indices, metals and commodities. The choice of assets allows traders to operate a diversified portfolio which is also suitable for advanced traders. Tradeo.com expands this list and continues to add more assets which is a positive development for this broker.Back to Top
Tradeo.com only offers one account type which they call “Platinum”, the minimum deposit is $250 and the maximum leverage is 1:30. Two different account types are listed which appear to be the same. Since the minimum deposit to open any account is $250, the two separate listings of basically the same account type is rather pointless. A different education package is listed, but the classification makes no sense as deposits below $250 are not accepted. Swap free Islamic accounts are available upon request.
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Tradeo.com is pushing its web based trading platform Tradeo Z Web Platform and only mentions MT4 in a foot note. It is available for Forex traders to use and it can be downloaded, but no further information is provided. Tradeo.com appears to not value MT4 and the range of tools and benefits it brings which explains why it was reduced to a few basic mentions on the website.
The download link to the MT4 platform is located at the bottom of the home page under “Market Tools”.
A mobile version, at least for the Tradeo Z Web Platform, is available. No mention of the MT4 mobile platform is made by the brokerage. Clicking the “Download App” button for their mobile trading platform returned no results, it simply didn’t work at all and links back to their home page. Maybe they intend to develop this part of their website, but the company has been active since 2015 which begs the question: What happened over the past four years? Just another red flag for this company.Back to Top
The most notable feature we found during this Tradeo review is that the Tradeo Z Web Platform comes equipped with a sentiment indicator. Tradeo.com refers to this as the “Wisdom of the Crowd”. This only takes into consideration trades taken in their Tradeo Z Web Platform and should be viewed with a healthy degree of skepticism as far as smart trading decisions are concerned.
- Broker's Name : Tradeo
- Headquarter : Cyprus
- Regulation : CySEC
- Type of Broker : ECN/STP
- U.S. Clients Allowed :
- Minimum Deposit : $250
- Maximum Leverage : 1:30
- Commissions / Spreads : Spread
- Account 1 : Standard Account
- Demo Account :
- Islamic Account :
- Segregated Account :
- Managed Accounts :
- Institutional Accounts :
- Deposit Options :
- Withdrawal Options :
- ETFs :
- CFDs :
- Commodities :
- Metals :
- Stocks :
- Oil :
- Gold :
- Binary Options :
- Indices :
- Type of Platform : MetaTrader 4, Proprietary platform, Web-based
- Platform Languages :
- OS Compatibility :
- Trading Signals :
- Charting Package :
- Market Analysis :
- Chart Trading :
- Automated Trading :
- Scalping :
- Hedging :
- Mobile Alerts :
- E-mail Alerts :
- Trailing Stops :
- Guaranteed Stop Loss :
- Guaranteed Limit Orders :
- Guaranteed Execution :
- One-click Execution :
- OCO Orders :
- Interest on Margin :
- Web-based Trading :
- Mobile Trading :
- Support Hours : 24/5
- E-mail Support :
- SMS Support :
- Chat :
Pros and Cons
- Social Trading at Its Best
- Choice of Platforms
- Tight Spreads
- Only One Account
- Limited Payment Options
Research and Education
The string of disappointments continues. Tradeo doesn’t provide any research to its traders. The only service its lists is a calendar, but once accessed it is empty and lists no events. This is a recurring theme across the website.
When it comes to education, on their homepage they mention that “Knowledge is Power” and list courses, webinars and one-on-one trading.
This appears to be yet another case of over-promise and under-deliver as their “Learn” section only lists a glossary which is rather comprehensive and offers one of the rare bright spots for Tradeo.
A personal account manager is mentioned together with a wealth of educational videos, but with more information absent and the series of non-functioning aspects of the website it is unclear what, if anything, exists.
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While customer support is something most traders usually never require, given the number of red flags with this broker it may become one of the most used features. Those Forex traders willing to take their chances and look beyond all the issues may require sufficient customer service. Tradeo claims to have world class customer service available 24/5, but since not all claims on the website have proved to be accurate, we recommend testing the company’s customer service before depositing, to make sure they’ll offer what you need.
Email and phone options are available for contact purposes and a basic FAQ sectionBack to Top
Bonuses and Promotions
Tradeo.com doesn’t offer any bonuses or promotions to traders.Back to Top
Opening an Account
Opening an account is done through an online form as is common practice in today’s market place. Tradeo claims it will take less than five minutes to open an account, but traders are cautioned that not all “Open Account” buttons on the website are functional. Given the CySEC regulatory environment under which Tradeo.com operates, AML and KYC requirements should be satisfied.
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Deposits and Withdrawals
Tradeo.com states that it accepts all major credit and debit cards, wire transfers as well as e-wallets Skrill and Neteller. Depending on location, regional options may be available to traders. Deposit fees are waived which is basic industry practice, but withdrawal fees apply and are rather heavy.
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Where is Tradeo.com based?
Tradeo.com is headquartered in Limassol, Cyprus.
How does Tradeo.com make money?
Tradeo.com makes money from spreads in currency pairs as well as from fees charged relating to withdrawals and inactivity.
How can I deposit into an Tradeo.com account?
Tradeo.com offers credit and debit cards, bank wires, Skrill and Neteller.
What is the minimum lot size at Tradeo.com?
Tradeo.com has a minimum lot size requirement of 0.01 standard lots for currency pairs while other assets classes start at a minimum lot size of 1.0.
When does a margin call take place at Tradeo.com?
Tradeo.com issues a margin call at a 50% Equity-to-Margin ratio as stipulated in the EU and enforced by CySEC.
Is Tradeo.com regulated?
Tradeo.com is regulated in the Cyprus Securities and Exchange Commission (CySEC).
What is the maximum leverage offered by Tradeo.com?
Tradeo.com offers a maximum leverage of 1:30 in all accounts.
How do I open an account with Tradeo.com?
Tradeo.com offers a quick and digitized online application form.
Does Tradeo.com offer the MetaTrader Trading Platform?
Tradeo.com offers their own Tradeo Z Web Platform as well as the MT4 trading platform, with a strong emphasis on their Tradeo Z Web Platform.Back to Top
Tradeo.com is a regulated Forex broker in Cyprus and enjoys the regulatory body of the EU, but Forex traders are advised to proceed with extreme caution. The holding company which owns Tradeo.com also owns Tradeo.pro which falsely claims to be regulated in Belize even after their license was not renewed and operates under a criminal offense. While Tradeo.com does have a valid license issued by CySEC, the overall disregard to the Belize regulator was our primary concern during our Tradeo review.
The negatives don’t stop there. Tradeo.com basically only offers one account type and is loaded with unnecessary fees such as an account inactivity fee on top of bigger than necessary withdrawal fees. While they offer the MT4 trading platform, Trade.com pushes its own Tradeo Z Web Platform which may not be suitable for all traders. The rare bright spot with this broker is the range of assets offered. This is countered by the numerous red flags. There are over-promises and under-deliverances when it comes to their educational tools and several aspects of their website are not functioning, including the “Open Account” button. Overall Tradeo.com leaves a sloppy impression and given the regulatory issues from its sister company and how the holding company is operating, Forex traders are better off to ignore this broker.Back to Top
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