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Tradeo Review - CySEC Regulated Social Trading Broker

Overall Rating

Our Tradeo Review - Updated 3rd September 2020

Tradeo is an online broker that was launched in 2012 in Cyprus. The broker’s most distinguishing feature is its unique social trading network that connects traders to better their performance by collaborating, sharing, and exchanging tips, ideas and techniques, but also to copy each other’s successful ideas.

Tradeolisence (1)

The broker offers a powerful yet simple online trading platform that caters to retail traders of different levels. Tradeo’s trading platform of choice is the industry favorite MT4 (MetaTrader 4), which was released by the fintech company MetaQuotes. The broker is licensed and regulated by CySEC, which means brokers are offered a level of security that their funds are safe. We found that Tradeo offers transparent pricing

PROS

MT4 is available

Reliable and functional platforms.

Very organized website layout, easy for a trader of any level to understand. Provides extensive information on what every account type offers.

Multilingual, reliable customer support.

Offers social trading.

CONS

Higher minimum deposits that other brokers.

Our Tradeo Review Ratings

  • Platforms

    0%
  • Tradable Assets

    0%
  • Spreads

    0%
  • Trader Education

    0%
  • Customer Service

    0%

Trading Accounts

Tradeo offers numerous account types to their clients in order to cater to traders of different needs. Below are the various account types offered by Tradeo:

accounttypes

Standard Account

 

Tradeo’s standard account is its most easy one and has a minimum deposit of €1,000. With this account type, you will receive the following benefits:

  • A relationship manager on a trial period
  • 1 private one-on-one session.
  • Standard trading commission

Classic Account

Tradeo’s Classic account has a minimum deposit of €2,500. With this account type, you will receive the following benefits:

  • A relationship manager
  • Three private one-on-one sessions.
  • Standard trading commission

Platinum Account

Tradeo’s Platinum account has a minimum deposit of €2,500. With this account type, you will receive the following benefits:

  • A relationship manager
  • Four private one-on-one sessions.
  • SMS trading notifications
  • Trading commission with up to 10% discount

Premium Account

Tradeo’s Premium account has a minimum deposit of €25,000. With this account type, you will receive the following benefits:

  • A relationship manager
  • Eight private one-on-one sessions
  • SMS trading notifications
  • Trading Commission with up to 25% discount

VIP Account

Tradeo’s VIP account has a minimum deposit of €2,500. With this account type, you will receive the following benefits:

  • A relationship manager
  • Sixteen private one-on-one sessions.
  • SMS trading notifications
  • Trading commission with up to 50% discount
  • VIP services on trial period

Account Opening & KYC

To open an account with Tradeo you must register your details such as name, surname, date of birth, phone number, email, etc. and then verify your account. For that, you must submit the following documents:

  • A recent utility bill or bank statement (less than three months old)
  • Government ID, passport, or driver's license. UK clients must provide their National insurance number, while other countries must share their Tax Identification number.

Tradeo will verify your documents in about 24 hours, but the account will be active in just thirty minutes after uploading documents. The whole procedure was swift and straightforward. Since the broker offers a large variety of accounts to choose from, there is something for everyone. You can open an account in 4 base currencies.

Trading Conditions

Tradeo is managed and operated by UR Trade Fix, which is an investment broker that is registered and authorized by Cyprus Securities and Exchange Commission (CySEC).The broker’s license number is 282/15 and the company registration number is HE336677.

Ever since Cyprus, the motherland of CySEC, joined the European Union in 2004, the regulator had to comply with the regulations on MiFID. CySEC’s responsibilities as the jurisdiction’s regulator include monitoring and supervising the local stock exchange, investment firms and brokers. Brokers that are licensed by CySEC must protect their trader’s from company insolvency and bankruptcy by offering compensation under ICF (Investor Compensation Fund). This means that traders will be compensated up to €20,000 in case the broker goes bankrupt. Furthermore, brokers must keep their capital in tier-1 banks in Europe only, and in segregated accounts. This means that client funds (trading capital) are kept separate from company funds (operating capital). CySEC also requires its brokers to maintain at least €750,000 in operating capital in order to protect them from succumbing to market volatility.

Tradeo’s minimum deposit is a €250 for its Standard Account, and the broker charges it’s traders commission based on the instruments they pick to trade. The broker accepts all accept all major credit and debit cards, Skrill, and bank wire transfer.

Withdrawal and deposit methods depend on your country of residence. There are no charging fees for depositing, but you must deposit from your own account. In terms of withdrawals, once your request has been processed it will take between 2 to 5 days for you to receive your money. The minimum withdraw should be above 15 $ / €/ £. There are no fees to deposit with Tradeo or charges for internal transfers between accounts. Fees for wire transfers are 30 EUR/USD/GBP up to $10,000 and 0.03% for the amount above $10,000. Accounts that are inactive up to 90 days may be charged a fee of $ 22.00 / € 20.00 / £15.00. Conversion fees are up to 0.5%.

Tradeo’s trading costs are considered to be a bit higher than those of other brokers.

Trading Platforms

Tradeo offers the investor favorite platform, MT4 (MetaTrader) to its traders. MT4 was released in 2005 by the fintech company MetaQuotes and was built on the MQL4 programming language. The platform offers a built-in library that contains over 50 technical indicators, plenty of analytics tools and up to nine timeframes.

MT4 is a fantastic platform for beginner traders as it offers a quality user experience, has a modern and clean interface, and is available as software, mobile,and browser. MT4 allows three trade execution models to choose from:

  • Instant execution
  • Execution on request
  • Execution by market

MT4 offers a wide range of (Expert Advisors) that traders can install. It is also available in a de range of languages.

Tradeo offers a large range of financial instruments across six asset classes:

  • Forex - Major, minor, and exotic currency pairs.
  • CFDs (Contract for Difference)
  • Indices
  • Shares
  • Commodities
  • Cryptocurrencies

Tradeo is an STP broker, (Straight Through Processing) which means it forwards the trades of its clients to the liquidity provider that currently offers the best price. There is no conflict of interest for the trader, unlike when working with a market maker.

Trader Education Tools

Tradeo offers some trader's education and is aiming to expand its database. At the moment it offers the following:

  • Blog: Tradeo regularly publishes financial content to keep their traders up to date with the financial world.
  • Market Reviews: Regular market reviews are sent to clients which helps them execute trades more effectively.
  • Economic Calendar: Keeps clients updated with major economic events that could affect trading.

Customer Support

Tradeo offers very good customer support via live chat, telephone and email. The broker has support services available in the UK, France, and Italy as well as a dedicated FAQ section that answers all of the trader’s questions.

In addition to this, upon registration, traders are assigned a dedicated account manager which attends to all trader needs that may occur.

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