Is Tradeo Regulated? Is it safe? - TU Expert review
License is the most important document you have to consider when choosing a broker. Many traders, who would like to start working with Tradeo try to check whether it is regulated. Traders Union experts have already done that. In this article, you will learn whether Tradeo is regulated, what regulatory authorities supervise the broker and whether it is safe to work with the company in general.
Short summary about the broker Tradeo
The Tradeo trading firm provides services for active trading and investing in assets of the financial and stock markets. The company is registered in South Africa, in the municipality of Sandton, and is regulated by the South African FSCA (Financial Services Authority, 46452). There is no information on the Tradeo website about any awards received by the broker.
| 💰 Account currency: | EUR, USD, GBP |
|---|---|
| 🚀 Minimum deposit: | $250 |
| ⚖️ Leverage: | Up to 1:40 |
| 💱 Spread: | Floating |
| 🔧 Instruments: | Currency pairs, cryptocurrencies, CFDs on stocks, commodities, indices |
| 💹 Margin Call / Stop Out: | 50%/50% |
Pros and cons of Tradeo
👍 Advantages of trading with Tradeo:
•the user-friendly interface provides all the information a trader needs;
•availability of a license and regulatory body;
•round-the-clock support - a trader can turn to professionals for help at any time of the day.
👎 Disadvantages of Tradeo:
•small leverage;
•the broker does not offer investment and other programs to generate passive income;
•the size of the minimum deposit is unreasonably large;
•withdrawal of funds is periodically carried out with a delay;
•the verification process takes too long and it may be necessary to re-upload the documents.
Why is it important to work with a regulated broker?
License is a document that certifies that a broker operates legally and guarantees fulfillment of its obligations to the traders. A financial license is issued by a financial regulatory authority of a country (the National Bank) or a specialized authority (for example, Securities Commission, Futures Trading Commission, etc.). It is important to choose licensed brokers for the following reasons:
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A license guarantees that the broker operates in compliance with the rules of the financial regulator that issued the document.
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In order to obtain the license, a broker must comply with certain requirements, for example, the size of the authorized capital or personnel qualification. It is simply not lucrative for scammers to comply with such requirements.
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A broker’s license provides access to real markets, and you can be sure that the quotes are real and up-to-date.
The best option is to work with a broker that holds the license of the jurisdiction, where the trader resides. You can also choose a company with a financial license of another reliable jurisdiction, for example, the U.S. or the European Union.
Is Tradeo Regulated? Broker’s license
Security (Protection for Investors)
The Tradeo broker is operated by Tample Capital (Pty) Ltd, which provides investment services and is registered under number 2015/241042/07). Tradeo is regulated by the FSCA - South African Finance Authority.
Upon receipt of a license, the broker is obliged to properly comply with all the requirements presented by the regulatory body; otherwise, the license to provide services will be canceled.
👍 Advantages
- Availability of a regulator and a license to provide services
- Protecting clients' personal information with the international SSL system
- Client funds are ensured by strict internal controls governing the separation of client accounts
👎 Disadvantages
- Documents confirming the existence of a license are not publicly available
- All legal information is set out in English only
- Financial compensation in case of liquidation of the company is not provided
Brokerage fees
Broker’s regulation is the most important choice criterion. However, before you start working with the broker, it is also important to analyze its commissions and fees. TU analysts have studied the commissions and fees charged by Tradeo, which you can see below.
The Traders Union specialists have studied the trading conditions at Tradeo for explicit and implicit commissions. No hidden commission was found and there is no trading fee for replenishment of the account, for withdrawals, and no commission is charged in the amount of EUR/USD/GBP 15 to 0.03% of the trade amount. Trader inactivity within 90 days is also subject to a commission of $22. There is no data on the trade execution fee.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From $2.4 | By bank transfer - from EUR/USD/GBP 15 to 0.03% of the amount |
| Silver | From $1.8 | By bank transfer - from EUR/USD/GBP 15 to 0.03% of the amount |
| Gold | From $1 | By bank transfer - from EUR/USD/GBP 15 to 0.03% of the amount |
| Platinum | From $1 | By bank transfer - from EUR/USD/GBP 15 to 0.03% of the amount |
| Diamond | From $0.7 | By bank transfer - from EUR/USD/GBP 15 to 0.03% of the amount |
Brokers that are similar to Tradeo
Many brokers operate legally, obtaining relevant licenses and permissions. However, when choosing a broker, it is important to compare their trading conditions. TU experts have prepared a comparative analysis of Tradeo conditions with its closest competitors.
Comparison of Tradeo with other Brokers
| Tradeo | RoboForex | Pocket Option | Exness | FBS | XM Group | |
|---|---|---|---|---|---|---|
Trading platform |
No |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MobileTrading |
MT4, MT5, MobileTrading, XM App |
Min deposit |
No |
$10 |
$5 |
$10 |
$1 |
$5 |
Leverage |
No |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
No |
From 0 points |
From 1.2 point |
From 1 point |
From 0.2 points |
From 0.6 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
No |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
$5 |
No |
Cent accounts |
No |
Yes |
No |
No |
Yes |
Yes |
The Tradeo broker aims to cooperate with active traders focused on independent trading.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
FBS is a broker for those who appreciate a variety of trading instruments and prompt support. The company is suitable for both beginners and experienced traders working on PCs and smartphones.
XM Broker is a broker for professional trading. Trading conditions correspond to the average market; there are technical advantages that distinguish XM Broker from its competitors.
Conclusions
Tradeo is a quite reliable broker for trading. Tradeo operates on the license of a reliable jurisdiction and its operation is regularly monitored. However, the company does not offer the best trading conditions compared to competitors. You can choose this broker and not worry about the safety of your funds, but there are better options in terms of trading conditions.
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FAQ
How difficult is it to obtain a brokerage license?
The procedure for obtaining a license differs depending on the jurisdiction, but it is very difficult and expensive to get the document in a reliable jurisdiction. This is why only reliable brokers obtain licenses.
Why is it not recommended to work with offshore brokers?
Offshore brokers have to meet minimum requirements for obtaining a license and reporting, which is why often scammers get such licenses.
Can an offshore broker be reliable?
Yes, although there are not many of such brokers. There are brokers with a good reputation, but with an offshore license. You still need to be very cautious when working with such companies.
How do I check a broker’s reputation?
In order to check a broker’s reputation, you need to read user reviews. However, it is recommended to only use independent websites for that.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.