Tradeo was established in 2011 with a head office in Malta. Regulated by the Malta Financial Service Authority, they offer an advanced social trading platform that allows their clients to follow and copy other forex traders and share their success. The features do sound interesting and really promising but can this really improve one’s trading outcome?
Demo Account: Similar to the real one
The demo account is loaded with $50,000 virtual money and can be utilized for 1 month. Its interface and features are very similar to that of the real account so it’s the perfect venue to practice and experiment.
Bonuses: No extras
Unfortunately this broker doesn’t offer any sort of welcome bonus or promotion. This however is not a big deal to me because I am more interested about their services and platform features.
Platform: Social WebTrader and MT4 included
Aside from their very popular Social WebTrader platform, they also offer the MetaTrader 4 terminal as an alternative which is seamlessly synced to the account. However, I prefer the former because it is where I can get the best opportunities to make good profits.
Mobile Trading: Accessible via web browsers
Currently Tradeo doesn’t have mobile apps but the web-based interface can still be accessed even on a mobile browser.
Minimum Lot Size: Enhances risk management
They allow a minimum lot size of 0.01 which is an advantage for managing the risks efficiently and since I can set my desired investment amount, I have more control over my positions.
Maximum Leverage: A decent magnification
The 1:200 maximum leverage is a decent scale as it allows me to maximize the possible earnings for up to 200 times.
Spreads: Competitive numbers
They do not have complex pricing structures and most of the spreads that they have are highly competitive especially for the major pairs like the EUR/USD which has a value of 2.2 pips.
Social Network Integration: Facebook, Twitter and Google+
What I really like about Tradeo is that they allow me to integrate and link my social networking accounts with their system. This gives me the opportunity to share and view trades via Facebook, Twitter and Google+.
Automated Trade Copying: Dynamic system
The copy trade feature allows me to set my preferred position size so I can fully maximize my profits. I can also set my desired maximum position size to protect my trades if the trader I am copying will increase his leverage.
Traders Allowed to Copy: Unlimited!
I have the liberty to follow as many traders as I want since there’s no restriction on the number of users that I can copy. This definitely increases my profit potential since there are no limits on the successful traders that I can base my trades on.
Deposit and Withdrawal
Minimum Deposit: The standard amount
The accepted minimum deposit is $100 which is just the same as what most brokers require. The value for me doesn’t matter that much since I am dead serious in using their social trading feature which will require me more funds in the future.
Deposit Methods: Hassle-free
Adding funds into the account is not a problem because they accept credit cards and wire transfer as mode of payment.
Withdrawal Methods: Simple and convenient
The withdrawal methods are very straightforward. I’ve never encountered any issues in cashing out my funds.
Withdrawal Processing Time: Fast and easy
This broker is very fast in handling withdrawal requests because they can process it within the same day. In fact, I was able to get my money back in less than a week.
Channels: Easy to get in touch
It’s very easy to get assistance from their customer service team because I have the option to contact them via phone, email and live chat.
They can be reached anytime of the day but only during weekdays.
Supported Languages: Major languages available
Currently they support major languages including English, French, Russian, Italian and Arabic.
Average User Rating: 9.1
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Creatively designed
The layout and structure has been patterned to popular social networking sites which is why it is very easy to get accustomed to. There’s even an option to toggle the theme to day or night mode which is a pretty cool feature.
Support: Provides average customer service
Their customer service department is able provide average support and assistance. They need to improve in terms of speed and professionalism.
Reputation: An online brokerage firm that also offers social trading
They are among the brokers in the market that are offering social trading but the downside is that their user population is still low if especially if you compare them with other brokers that also offer the same service.
Editor’s Rating: 74
Tradeo has made an attempt to ride on the wave of social trading but as it promising as it sounds, their platform still lacks a lot of features that would convince us to trade with them. This broker failed to reach a satisfactory score in our review which is why we recommend that you find a better alternative.