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Tradeo Broker Review

  1. Established in 2012, Tradeo is a social trading platform and broker, offering Forex and CFD trading in 200 instruments, including cryptocurrencies. As well as providing the popular MT4 platform, Tradeo has developed the ‘the world’s first true social trading platform with innovative social trading tools. Relying on community sentiment, traders take a new approach to financial trading on the Tradeo Social WebTrader, by copying successful financial traders all over the globe. Demonstrating its truly global appeal, Tradeo is offered in 10 languages: English, French, German, Italian, Spanish, Russian, Portuguese, Chinese, Korean and Arabic. To find out more about social trading with Tradeo, read our in-depth review below.

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    Social Trading at Tradeo

    The idea of social trading at Tradeo is to make profitable investments by tapping into the sentiment expressed by the crowd, about potentially lucrative markets. Traders living in South Africa and all over the world, share their thoughts and ideas on the social trading platform so that everybody can decide how to profit from them. The Social WebTrader platform is very easy to use, ensuring that beginners in social trading can participate immediately in the social trading experience. Inexperienced traders can choose from a diverse range of successful traders listed on the platform, and copy all their trades automatically. To do this, traders receive live streamed trading signals from top traders on the platform, who allow their signals to be shared with the wider community. Advanced traders who prefer to trade more independently, can watch experienced traders and copy their trading strategies selectively, rather than automatically. Importantly, traders can use the demo mode at Tradeo to practice on the Social WebTrader platform without risking real money. We found it a useful way to get familiar with social trading features on the platform and to increase the chances of making money sooner.

    Tradeo Trading Account Features

    • Minimum initial deposit 250 USD, EUR, GBP
    • Some clients may request to open accounts with $100
    • Real money account and Demo account
    • Access to Social WebTrader and MT4 from one live trading account
    • Maximum leverage 1:200
    • No trading fees or commissions
    • Straight through processing (STP) broker model
    • Narrow spreads

    Tip: Consider IQ Option instead – the best regulated broker for South African traders with a minimum deposit of only $10!

    Tradeo Trading Software

    Tradeo provides two types of trading platform to suit the aspirations of every kind of trader in South Africa and elsewhere. Traders can choose the award-winning MT4 platform or the Social WebTrader with its innovative social trading features, by adjusting the settings in their trading accounts. Both platforms give access to financial markets, and more than 200 instruments in cryptocurrencies, commodities, indices, and stocks.

    Social WebTrader Features

    • User-friendly, intuitive interface
    • 200 tradeable instruments
    • Technical indicators
    • One-click trading
    • Combines traditional trade execution and social trading on one interface
    • Open and close trades manually or copy trades
    • Includes a large number of top traders with personal profiles
    • Shows top traders win rates, maximum percentage gains, estimated risk level, leverage used, most frequently traded assets
    • Copy traders can see the number of people currently following a trader
    • Live streamed trading signals
    • Social feeds and crowd sentiment
    • Live market notifications and alerts
    • Platform information guide built into the software

    Tradeo Mobile Social Webtrader Platform

    • Free Tradeo social trading platform for Android and iOS mobile devices
    • Full functionality of the desktop version
    • Seamless, flexible copy trading
    • Download apps from Google Play and Apple App Store

    Tradeo MetaTrader4 Platform

    • Download MT4 client to desktop with Windows or Mac operating systems
    • Reliable, secure platform with encryption protocol
    • Takes up minimum resources on desktop
    • Fast trade execution
    • 30 integrated technical indicators
    • Advanced charts
    • Analytical tools for advanced trading
    • Several order types including Stop-loss and Take-profit settings
    • Multi-lingual support
    • Automated trading possible with Expert Advisors

    Tradeo Customer Support

    Tradeo provides a comprehensive FAQs page on the website which we found very useful in answering most of the questions we could think of, relating to trading with Tradeo. Additionally, customers can request assistance through the Live chat helpline, 24/5 directly on the Tradeo interface. However, customers must give a name and email address before starting a conversation, as the service is not anonymous. For telephone support, Tradeo provides a UK phone number and an email address is given for written inquiries. Customers in South Africa may consider the email and live chat option before making expensive phone calls.

    Further support is available to all Tradeo customers through the Trading Academy in the Tradeo Learning Centre, featured on the dashboard on the Tradeo website. We were impressed by the vast range of video tutorials specialized in social trading, giving copy traders a fundamental grounding in how to proceed. Trading in cryptocurrencies, Forex and CFDs is also explained in user-friendly video tutorials, giving traders at every level of experience the opportunity to build trading competence and skill. Clients who would like a tutorial on how to install the MT4 software to desktop can follow the easy instructions of the dedicated tutorial in the learning center. Importantly, learning is constantly evolving at Tradeo with regular webinars offered to customers, together with daily market news and analysis.

    Tradeo Payment Methods

    Customers can choose from several popular payment methods to fund their trading accounts. These include major debit/credit cards such as Visa and Mastercard, as well as Skrill, Neteller and bank wire transfer. Customers in South Africa may be offered local payment methods in addition to those mentioned here, at the time of opening an account with Tradeo. The funding process is straightforward, as it all takes place from the dashboard in the customer’s account. A 0.5% conversion fee is charged to customers who deposit funds in a currency other than the customer’s chosen account base currency. Customers at Tradeo who prefer clear guidance in the deposit process can watch the video tutorial on the FAQs page.

    Whilst Tradeo does not charge deposit fees, customers may be charged fees by banks and payment processors involved with the transactions. On the other hand, we saw that trade does charge withdrawal fees that vary according to the payment method chosen by the customer. Credit card withdrawals up to £$€10,000, as well as bank wire transfers, pay a $£€15 flat fee on each transaction. A fee of 0.15% is charged on withdrawals of more than £$€10,000 and withdrawals a fee of 1% is charged to customers making withdrawals using other payment methods. Furthermore, should the percentage fee on withdrawals amount to less than £$€15, a flat transaction fee of £$€15 is charged on the transaction.

    Because of licensing regulations imposed by the licensing authorities, customers at Tradeo must make sure to verify their live trading accounts within 15 days of making the initial deposit. Should account verification not take place, customers get a refund of their initial deposits, minus any losses made during that time period, and the trading accounts are closed.  Account verification requires clients in South Africa and elsewhere, to upload copies of government-issued ID documents such as a passport or driving license and proof of address through a recent utility bill or bank statement. It’s worth noting that by verifying trading accounts in this way, customers protect themselves from online fraud and show that they are not involved in money laundering activities.

    Tradeo is owned by UR Trade Fix Ltd, a company regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 282/15. The registered address is 333, 28th October Street, Ariadne House, 3106, Limassol, Cyprus. Tradeo operates across the EU in full compliance with MiFID rules and international anti-money laundering regulations. Importantly, the company is a member of the Investor Compensation Fund for the clients of Cyprus investment firms, where customers get up to 20,000 EUR should the brokerage become insolvent.

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