Tradesto Review 2020
Tradesto is an online trading broker that offers forex, spot metals, indices, equities, and CFDs for trading via the MetaTrader platforms for desktop, web and mobile devices. The broker has a wide variety of account funding and withdrawal methods but the trading brokers review team did not find them to be the cheapest online broker.
Tradesto Review 2020, Pros & Cons
- Regulated broker
- MetaTrader 4 trading platform for multiple devices
- Multiple account funding & withdrawal options
- No clients from the USA & some other countries
- Not the cheapest broker
- No cryptcurrency trading
In this detailed Tradesto 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.
Tradesto 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 Tradesto.
Tradesto Review: Summary
Based in Saint Vincent and the Grenadines with offices in Kingstown and London, Tradesto is an ECN broker that offers online trading through the sophisticated MetaTrader 4 trading platforms. The broker has a minimum required deposit of $100, multiple account funding options, and is regulated by ASIC and VFSC.
In addition to Forex, Tradesto offers clients the ability to trade spot metals, indices, equities, and other contract for difference (CFD) instruments within the MetaTrader 4 platform.
The broker has won several industry awards, including the Most Reliable Customized Broker in Asia 2019 – from Wiki Expo, South East Asia Best Spread & Execution Provider 2018 by 20th China Guangzhou International Investment& Finance Expo, and the Fastest Growing New ECN Broker South East Asia 2016 by Global Banking & Finance Review and more.
Tradesto Review: Regulation
Tradesto Corporation is incorporated and registered in Saint Vincent and the Grenadines under license number 22360 IBC 2014. The Company’s legal and correspondence address is at Griffith Corporate Centre, Kingstown, St. Vincent and the Grenadines.
Tradesto is also licensed and regulated by the Vanuatu Financial Services Commission (VFSC) under registered number 14736. The Commission ensures all regulated entities are operating within accepted standards of good regulated practice.
Tradesto is also registered under the Australian Securities and Investments Commission (ASIC) with registered body number 616 567 698. ASIC is an Australian Government body that regulates financial companies in Australia.
Tradesto Review: Countries
Tradesto 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.
However, the broker states specifically that they do not offer their online trading services to clients from the following countries: Afghanistan, Belarus, Burma, Canada, Cuba, Democratic Republic of Congo, Egypt, Eritrea, Haiti, Iran, Iraq, Ivory Coast, Lebanon, Liberia, Libya, Democratic People’s Republic of Korea (North Korea), Republic of Guinea, Republic of Guinea – Bissau, Sierra Leone, Somalia, Sudan, Syria, Tunisia, USA, and Zimbabwe.
Some Tradesto features and products mentioned within this Tradesto 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.
Tradesto Review: Trading Platforms
The MetaTrader 4 (MT4) trading platform provides technical analysis tools and customisable charts to help clients develop their own trading strategies. The platform supports automated trading using expert advisors (EAs).
A user-friendly interface makes it easy to put powerful charting features, real-time quotes, advanced technical analysis, and automated trading capabilities to work for you. Its innovative open architecture enables limitless customization, while its robust security system and mobile-accessible trading applications make it perfect for the most demanding traders.
The platform is a well-equipped trader’s workplace that allows clients to trade in the financial markets (Forex, CFDs, and Futures). It is, by far, one of the most popular trading platforms in the world, used by millions of traders all across the globe. It is available in over 30 languages.
MT4 is available as a desktop application for Windows and Mac Computers, a WebTrader that runs directly on most modern web browsers like Chrome, Safari, Firefox, and Edge, as well as a Mobile app for Android and iOS devices.
Tradesto Mobile App
The Tradesto mobile trading app is designed as a native extension of the MT4 platform, it provides real-time quotes and trade execution, advanced charting with multiple time frames, pip value calculators, financial market news, and more. The mobile app is compatible with Android and iOS devices and can be downloaded from relevant app stores, free of charge.
Tradesto Review: Trading Tools
The economic calendar gives real-time updates on events, along with the expected impacts they may have on the markets. This tool is often used as part of a trading strategies fundemental analysis.
The broker provides clients with the market news which offers the latest relevant news on stock markets and other financial markets.
Tradesto Review: Education
The broker’s website contains a selection of educational resources, which are beneficial to traders of all experience levels. The educational resources help to improve traders’ overall skills and knowledge. They include forex daily analysis videos and FAQs that give instant answers to traders’ frequently asked questions.
Tradesto Review: Trading Instruments
Tradesto offers an array of trading instruments across multiple asset classes, such as forex, spot metals, indices, equities, and other CFDs — the wide range of instruments allows traders to get the most out of their trading strategies.
With MetalDesk, clients are able to now trade physical metal products, across a range of bars and coins. You can trade physical gold, silver, and platinum wherever you are using an online platform in the same way that you would trade stocks, forex, or futures.
Tradesto Review: Trading Accounts & Fees
Tradesto offers a good range of trading accounts to suit the various needs of traders. All the account types require a minimum deposit of $100. The account types include:
The Standard Account at Tradesto offers traders a wide range of features suitable for all traders, from the beginner to the experienced. This account type was the first to offer traders the ability to trade standard lots in the forex market.
Tradesto offers ECN Account with real market spreads as low as zero pips, along with no re-quotes execution on the MT4 trading platform. Clients can choose to trade over 50 currency pairs, spot metals, and commodities. It features spreads as low as 0 pips, MT4-based trading, 1-Click Trading, and low commission charged at $10 per standard lot.
Tradesto Joint account is a type of account managed by two or more account holders, whereby any of the registered parties can have access to the account. Tradesto joint account is a solution for spouses who are trading partners. Instead of each partner having a separate Tradesto individual account, it is easier for partners to trade using a single account, and pooling resources. Any party who is registered on the account can access funds, make trading decisions, and initiate transactions.
Tradesto Corporate account is particularly designed for basic corporate and institutional clients who usually tend to trade bigger orders. The broker allows clients the flexibility to trade bulk orders more quickly and effectively as they are connected to many liquidity providers. Tradesto Corporate accounts offer the highest standards of service and market execution with the best rates.
Tradesto offers a cutting Multi-Account Manager (MAM) application for Commodity Trading Advisors (CTA), hedge funds, and money managers looking for a solution to manage multiple accounts using a single platform.
The Multi-Account Manager offers the following basic features:
- Server-side plugins enabling instant execution, broker control, and server updates
- Client-side software, which allows you to adjust trading parameters
- Unlimited underlying trading accounts, whether you manage 2 accounts or 2,000 accounts
- Three allocation methods – Lot, Percentage, or Proportional
- “Group Order” execution from the main control screen
- Use the main account to execute partly closed orders
- Full Stop-Loss, Take Profit, and Pending order functionality
- Expert Advisor (EA) trading of managed accounts from client’s side
- Each sub-account has an output to screen report
- Market watch window within Multi-Account Manager
- Live order management including Profit and Loss
Forex Islamic accounts are also known as swap-free accounts, and they are available to clients following the Muslim Faith as they imply no swap or rollover interest on overnight positions. These accounts comply with Sharia law.
The broker also offers demo trading accounts which can be a good way to practice your online trading strategies and to familiarise yourself with the trading platforms.
As broker fees can vary and change, there may be additional fees that are not listed in this Tradesto review. It is imperative to ensure that you check and understand all of the latest information before you open a Tradesto broker account for online trading.
Tradesto Review: Customer Service
Tradesto offers a customer support team that is on hand to help traders with any assistance they may need. They can be reached via telephone, email, or by filling out the form on the broker’s website. Tradesto is also available on social media channels: Facebook, YouTube and LinkedIn.
Tradesto Review: Deposit & Withdrawal
Tradesto offers various payment methods to suit the individual trader’s needs. The payment methods have varying processing times as follows:
- Bank Wire transfer: takes about 2 to 6 business days
- Help2pay: instantly
- Shop2Pay: instantly
- Credit Card: within 24 hours
- Neteller: within 24 hours
- I-Account: within 24 hours
- Fasapay: within 24 hours
- China UnionPay: within 24 hours
- Bitcoin: 1-3 business days
The accounts are denominated in USD and SGD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Please note, some payment methods may not be available to some specific countries. The transaction fees and processing time may vary, depending on the payment method.
You may need to verify your account to remove limits on particular methods in some countries. Tradesto strictly do not accept third-party payments. All funds deposited into your trading account must be under the same name as your Tradesto trading account.
Tradesto Review: Account Opening
To open a new account, click on the ‘Open live Account’ icon on the broker’s website and properly fill the form and answer the questions. You will need to upload your documents: Proof of identity (passport or national identity card) and proof of address. Once your account has been verified, you can make deposits and commence trading when you are ready to do so.
The new account approval process usually takes about one business day, provided that the KYC (Know Your Customer) documents are in order.
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.
Tradesto Review: Conclusion
Overall, Tradesto is a regulated online trading broker; they offer multiple tradable assets through the sophisticated and powerful MetaTrader 4 trading platforms. Traders get access to multiple account types, a wide variety of account funding, and withdrawal methods, along with educational resources. A minimum required deposit of $100 applies to all account types. Despite this, we did not find them to have the cheapest fees or tightest spreads when compared to some of the best brokers that we have reviewed.
Trading Foreign Exchange (Forex) and Contracts for Differences (CFD) is speculative and carries a level of risk that may not be suitable for all persons interested in trading online. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose.