Summary of Tradeo Trading Company
Tradeo, established in 2011 in Cyprus, claimed to be regulated by CySEC (Cyprus Securities and Exchange Commission) and FSCA (The Financial Sector Conduct Authority, South Africa). However, inconsistencies or discrepancies have been found in the license numbers.
As of 2024, the broker's website is operational, but essential functions like registration and authorization are not working, suggesting it may be a scam.
Numerous complaints against Tradeo have been reported, including high-pressure sales tactics, unsolicited calls, and trading losses. These issues have led to negative reviews, with various clients sharing their bad experiences dating back to at least 2018.
A common complaint among clients was the difficulty in withdrawing funds from their accounts. Traders have also mentioned that Tradeo representatives were ignoring them.
Despite claiming regulation by CySEC and FSCA, the complaints and negative experiences raise doubts about the effectiveness of these regulatory bodies in preventing or addressing such issues. As a result, the broker has been blacklisted.
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FAQs
Why has Tradeo been placed on the Forex Broker Blacklist?
Possible reasons:
• multiple complaints have been filed against Tradeo by traders claiming the broker failed to fulfil its obligations, including process withdrawals;
• the website of Tradeo is down, not updated or operates with clear errors and some features are not available;
• Tradeo has been blacklisted by the regulatory authority, and a warning has been published on the regulator’s website.
What should I do if Tradeo got blacklisted and I still have money in my account?
Don’t panic right away. First, try to find out the reason why Tradeo got blacklisted. The situation may be temporary. Contact Traders Union client service for details. If the situation is critical, try to withdraw money. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account.
What should I do if I cannot withdraw my money from Tradeo?
If your broker refuses to process withdrawals under various pretexts, your algorithm of actions is as follows:
• Get a clear response from the broker’s Support Service with reference to the clauses of the Terms of Use (User Agreement). Save your correspondence and download the transaction history from your account.
• With a full package of documents, appeal to the following organizations: the broker’s regulator or corresponding law enforcement agencies. If you make your deposit with a bank transfer, try to initiate a chargeback request.
• Share your situation on traders’ forums, add the broker to blacklists of various websites, as it will help others avoid the mistake.
Is there any chance to recover my money if Tradeo is a scam?
On rare occasions, yes, for example, if the broker was a member of a compensation fund, or upon a court’s ruling.
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