Tradeo Review 2020
Tradeo is an STP broker that offers online trading on over 200 financial instruments across multiple tradable assets, such as Forex, Cryptocurrencies, Indices, and Stocks. They provide clients with the powerful MetaTrader 4 trading platforms, along with 24/5 world-class customer support and a good selection of educational materials.
Tradeo Review 2020, Pros & Cons
- Regulated trading broker
- 24/5 customer support
- A vast array of educational resources
- Sentiment tool
- Multiple account options
- Negative balance protection
- Restricted leverage
- Minimum $250 deposit
- No US clients
- MetaTrader 4 platform only
- Not the tightest spreads
In this detailed Tradeo review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Tradeo is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Tradeo.
Tradeo Review: Summary
Tradeo is an online trading broker based in South Africa; they operate the straight-through processing (STP) execution model, thus offering quick execution of clients’ trades. The broker provides traders with access to 200+ financial instruments over multiple asset classes, including Forex, Cryptocurrencies, Indices, and Stocks through the popular and versatile MetaTrader 4 trading platforms for desktop, web and mobile devices.
Tradeo provides a good selection of educational materials, as well as a 24/5 knowledgeable customer support team. The minimum required deposit to open an account is 250 EUR/USD/GBP, whilst the spreads are competitive.
Tradeo Review: Regulation
Tradeo is the brand name of Tample Capital (Pty) Limited (Registration Number, 2015/2411042/07), an authorized Financial Services Provider that is regulated and licensed by the Financial Sector Conduct Authority (FSCA), with the FSP license number 46452.
Tradeo is operated by UR TRADE FIX Ltd, a Cyprus Investment Firm (CIF) supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
The broker states that they keep clients’ funds in segregated accounts. Each account has its own identifying number, and all deposits and withdrawals are conducted in accordance with the latest regulations. In addition, Tradeo maintains strict internal controls to segregate client accounts. The regulation, rules and features may differ according to the Tradeo broker entity that you open an account with.
Tradeo Review: Countries
Tradeo allows traders from different parts of the world to open an account with them if their countries of residence permit online trading with international brokers.
Some Tradeo features and products mentioned within this Tradeo review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Tradeo Review: Trading Platforms
MetaTrader 4 (MT4)
MT4 is one of the most popular trading platforms in the market; it was developed in 2005 by the Russian software company, MetaQuotes. The MT4 platform is replete with trading tools to help analyze the financial markets. It provides traders with live price feeds, intuitive technical charts, analytical tools, and up-to-date financial news to ensure that the traders are aware of what is happening in the market at all times.
The MetaTrader 4 trading platform is available as a desktop application for Windows and Mac computers, a WebTrader that runs directly on modern web browsers and operating systems, and mobile trading apps that are compatible with Android and iOS devices. The mobile apps can be downloaded from the relevant app store, and they are useful for traders who wish to manage their accounts and place trades whilst on the go.
The Tradeo mobile app enables traders to monitor their accounts, track the markets, and trade on the go. All you need is an internet connection. It is worth mentioning that the mobile trading app does not have as much functionality and capabilities as the desktop platform.
Tradeo Review: Trading Tools
The broker shows the dispositions of their clients by displaying the percentage of traders that are long and short in different markets. The up-to-minute trader sentiment tool shows how others are trading. Sentiment market analysis is often implemented as part of a contrarian trading strategy.
Tradeo provides an economic calendar, which is automatically updated to give traders real-time information about events and data, along with their possible effects on the markets.
Tradeo Review: Education
Tradeo provides clients with a vast array of educational materials to improve their overall trading skills and knowledge. The educational materials are important to traders of all experience levels, and they include:
This includes a collection of educational videos covering a range of topics, such as technical indicators (Moving Averages, MACD, etc), an introduction to technical analysis and weekly market reviews.
Ebooks are also available on the ‘Learn’ section of the broker’s website. They teach you how to trade online, manage your risk, trading analysis techniques, and exclusive trading strategies.
The trading glossary contains a vast range of trading terms with their detailed explanations. The terms are arranged in alphabetical order for easy access.
The broker also organizes webinars, trading courses, and one-on-one training from time to time. There is also an FAQ section on the broker’s website with answers to clients’ common questions.
Tradeo Review: Trading Instruments
Tradeo provides clients with access to 200+ instruments. You can trade CFDs on forex, cryptocurrencies, commodities, indices, and stocks. There are several major, minor, and exotic currency pairs for trading. Tradeo offers a wide array of commodity CFDs that can be traded through the MT4 platform, allowing you access to these markets at your convenience no matter where you are in the world.
Commodities offered include Gold, Silver, Platinum, Sugar, Wheat, Corn, Soybeans, Crude Oil (WTI), and Palladium. The broker also offers many types of indices, such as Dow Jones 20, FTSE, NIKKEI-225, IBEX, DAX 30, and CAC40. The stocks offered by the broker include Coca-Cola, Allianz, MACDONALDS, while the cryptocurrencies include Bitcoin, STEEM, Etherum, and more.
Tradeo Review: Trading Accounts & Fees
Tradeo offers traders a range of different account types to suit their individual trading needs and styles. All account types have variable spreads and allow traders to trade all assets. The account types include:
This account requires a minimum deposit of $250, it has a leverage of 1:10 with variable spreads. Traders get access to an account manager and some educational resources.
The least deposit required to operate this account type is $10,000, whereas the leverage is up to 1:20. It offers a senior account manager, platform walkthrough, and technical education. Clients can trade all assets with variable spreads.
With a minimum deposit of $25,000 and leverage of 1:30. Gold Account offers traders access to trade all assets with variable spreads, along with an executive account manager. Educational resources, such as platform walkthrough, technical, and fundamental education, are also available.
The Platinum Account requires an opening balance of $50,000 and leverage of up to 1:40 and comes with an executive account manager. The educational resources available to this account users include technical and fundamental education, platform walkthrough, and daily scheduled sessions with the executive account manager. Traders also get access to trade all assets.
This account type is designed for the more advanced traders with deep pockets; it has an initial opening balance of $500,000 and leverage of up to 1:40. It offers clients access to trade all assets with a Diamond Account Manager. The spreads are variable, while there is a wide range of educational resources, such as platform walkthrough, technical and fundamental education, and unlimited access to the Diamond Account Manager during market hours.
The broker offers Islamic swap-free accounts, which adhere to Islamic religious principles and comply with Sharia law.
Demo accounts that are preloaded with virtual funds are also available; it is a great way to try out the broker’s platforms before opening a real live trading account and to practice your trading strategies.
As broker fees can vary and change, there may be additional fees that are not listed in this Tradeo review. It is imperative to ensure that you check and understand all of the latest information before you open a Tradeo broker account for online trading.
Tradeo Review: Customer Service
The broker offers a dedicated support team that is available around-the-clock to assist with any questions or concerns you may have. They can be reached via telephone, email, and online chat. They are also available through some social media channels: Facebook, Twitter, and LinkedIn.
Tradeo Review: Deposit & Withdrawal
Tradeo accepts the following payment methods for account funding and withdrawals:
- Credit/Debit Card
- Bank Wire Transfer
Depending on your country of residence, additional deposit methods may be available. Tradeo does not accept third party deposits; this is in compliance with its Anti Money Laundering regulations. You can request a withdrawal from ‘My Dashboard Page’. Once your withdrawal request is executed, it usually takes 2 to 5 business days for your withdrawal to be credited to your bank account, credit/debit card, or other preferred withdrawal destination.
There are no fees to deposit with Tradeo or to make 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. All deposits to your trading account with Tradeo are free of charge. Third party payment processors may charge additional fees.
Tradeo Review: Account Opening
Opening a trading broker account with Tradeo is simple and easy. Simply click on the ‘Sign Up’ icon at the top right corner of the broker’s website, and the Sign Up form is displayed like this:
Next, fill the form properly and answer the questions accurately. You will need to upload your documents for verification purposes:
- Proof of identity – passport or national identity card. Please note that you must submit a color copy of your valid ID document.
- Proof of address – bank/card statement or utility bill. Please note that this should be a color copy and must have been issued no longer than 6 months ago.
Once your account has been verified, you can make deposits and commence trading when you are ready to do so.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Tradeo Review: Conclusion
Tradeo is a regulated online trading broker based in South Africa, offering well over 200 financial instruments across multiple asset classes. Tradeo provides a good selection of educational materials, as well as a 24/5 knowledgeable customer support team. They also offer multiple account types for traders to choose from.
The brokers minimum required deposit to open an account is 250 EUR/USD/GBP. Whilst the spreads are competitive, they are not the lowest that the trading brokers review team have seen.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.