Today I continue my foray into the Forex social trading platforms, with an innovative solution that promises bank level security and an advanced set of tools, Tradeo. This is one of the more popularized, and reviews social networks available, but that doesn’t mean that it’s the best. Today I will analyze all the details of this service, and also provide you insight from the Forex community, so we see all angles of the story including real customer feedback.
Owned and operated by Delwyn Trading Ltd, they are located at 61, Omirou Ave, Pissouri 4607, Cyprus. Due to their ties to Cyprus, there regulated by the Cyprus Securities and Exchange Commission (CySEC), with Llicensee number 282/15. This exchange commission is generally reserved for binary options brokers, but that isn’t the case this time. To get in touch with support, traders can either email firstname.lastname@example.org or call +44-203-129-3647.
The creators of the Tradeo social trading platform, believe that their expertise in developing intuitive trading tools sets them apart from their competitors. They provide traders with an application that can be installed directly to their phones, which makes the copy trading service accessible from anywhere at any time. The application is available on the App Store, and Google play, which is different from the majority of their competitors who do not utilize the same technology. Other social trading network providers like Ayondo, Collective2 and CopyFX do not have these capabilities.
Outside of the application, the rest of the copy trading service is pretty turnkey. Traders register with the service, select which traders they want to copy, and then execute the trades in an auto trading manner.
They also promise video tutorials, market analysis and 24/5 support. The market news is average, but the daily technical analysis articles can be of some use for traders that are looking to manually execute a handful of trades throughout the day on their own. They believe that these tutorials and articles will empower traders, and help them to learn and grow throughout the process.
- Type: Signal Copying
- Price: Fees
- Strategy: Multiple
- Timeframe: All
- Pairs: All
When trying to get additional information, I attempted to register my account, but was told that for regulatory reasons they are not able to provide their services to residents of Canada. This is a little concerning, because I registered with every other social trading network without any issues at all.
As an aside, the only fees charged for utilizing the service are charges on withdrawals, dormant accounts and conversion fees. There are no commissions or subscription fees, which makes it the cheapest of all the social trading networks.
In terms of copy traders, the Tradeo service provides very few, with only 16 traders to copy from. This is the 2nd lowest I’ve seen by any network, with the lowest being Dupli Trade, offering only 5 traders.
I’m also not very confident in the validity of some of the results being provided. While the other services are all pretty cut and dry, this one shows some pretty aggressive winning percentages, that are outside of the norm, when it comes to this type of service.
It’s also worth noting, that when I’m clicking to access the profiles, I’m getting an error message, and I’m unable to access these results.
There is much more client feedback about the Tradeo service, than any other network I’ve recently reviewed. The main client feedback website is showing a 2.5 star rating from 24 total reviews. This is a pretty concerning figure, especially considering the last 4 reviews are all one star reviews with clients making claims that this is a scam, and there has been no response from the development team.
Hopefully these issues will be resolved in the near future.
As of right now, I don’t see myself signing up with Tradeo. One main reason, is the fact that they won’t allow traders from my company to register. My other reasons are quite transparent and obvious as well, with many negative reviews and issues with the trading results, I just don’t see this as the most viable option when it comes to social trading networks. There are many other options in this marketplace that I would look into first.
If there’s anything you would like to add to this review, please leave your questions and remarks below the article now.