TradeEU – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
TradeEU - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://tradeeu.com
Founded: 2022
Regulations: None
Languages: English, German, Portuguese
Deposit Methods: Credit Cards, Debit Cards, Sepa
Minimum Deposit: Unspecified
Free Demo Account: No
Number of Assets: N/A
Types of Assets: CFDs, Forex, Cryptos
Trading Accounts and Conditions
TradeEU offers their clients the following trading accounts:
- Silver Account: The leverage is up to 1:30 and spreads start from 2.5 pips.
- Gold Account: The leverage is up to 1:30 and the spreads start from 1.3 pips.
- Platinum Account: The leverage is up to 1:30 and the spreads start from 0.7 pips.
There is no mention of the minimum deposit requirement and we also do not have any information about commissions, fees, order execution methods and so on.
TradeEU – Advantages
Here are the advantages of trading with TradeEU
-
Regulated by CySEC
TradeEU states that they are owned and operated by Titanedge Securities Ltd, a company that regulated by the CySEC – Cyprus Securities and Exchange Commission.
The broker provides us with the company registration number (HE411909) as well as their CySEC license/regulation number (405/21).
We checked both these pieces of information and found that Titanedge Securities is a legitimate firm and that TradeEU is indeed regulated by the CySEC.
Cyprus is a part of the European Union, which means that if a broker is regulated by one member nation, they can operate throughout the Union. Furthermore, being licensed by the CySEC means that the broker follows a strong set of regulations:
- Holding at least 730,000 Euros as a balance at all times to show financial stability.
- Segregated accounts so that the broker’s funds and their clients’ funds are not mixed and used irresponsibly.
- All transactions are to be reported to the CySEC so that investor protection schemes are improved and integrity is maintained.
- All EU-regulated brokers also have to follow all regulations laid down as per the Markets in Financial Instruments Directive (MiFID) legislation. It is this legislation that allows brokers to offer their services across the EU.
- And the best part is that if you deal with a broker like TradeEU that is regulated by the CySEC, then you automatically become a member of the Investor Compensation Fund. This means that if your broker goes bankrupt, then you are protected up to 20,000 Euros.
TradeEU – Disadvantages
Listed below are the issues that we have found with TradeEU:
-
Issues with Trading Software
TradeEU does offer their clients a trading software, however the broker does not go into much detail about the kind of trading software they offer. The only information that this broker gives is that their trading software is intuitive and that it has the capability to support clients.
Considering the fact that it is the trading software is a broker’s main offering, it is surprising that a CySEC-regulated broker has not clearly shown us the kind of trading software they have.
This lack of information raises a concern with us; regulated brokers are not so closed about their information.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
-
Issues with Trading Conditions
Another red flag that raises a lot of concern is the lack of information about TradeEU’s trading conditions. Along with the trading software, the trading conditions offered by a broker are their service offering. When this is missing from their website, brokers are being non-transparent and this is an issue.
Trading conditions are what tell us whether it would be profitable to invest with a particular broker or not. The spreads tell us the cost of trading, the leverage tell us how risky it is to trade with that broker, the minimum deposit tells us how much we need to fund out accounts and so on.
The fact that the minimum deposit requirement is missing concerns us. The spreads are also higher than we feel comfortable with, which means that trading with TraderEU would be rather expensive. The leverage is within legal norms of the EU, so we have not problem with that.
We also do not know what the commissions are – if any. This means that we do not really know the total cost of trade. Something that does not sit well with us.
-
Issues with Payments
The first issue we have is that there are very limited payment options. You only get credit and debit cards and the wire transfer payment processor called Sepa. Most other legitimate brokers offer a wider range of payment methods that also include e-wallets such as Neteller, Skrill, and so on, as well as cryptocurrency options such as Bitcoin, Ethereum, Litecoin, Tether and so on.
TradeEU states that there are no fees charged for deposits and withdrawals, which is good. You only pay the fees that the payments processors charge.
However, this broker charges all their new clients a $50 fee. TradeEU calls this fee an admission charge. It is almost as if you are to pay the broker to process your account opening request. This is not only unusual it also does not seem too fair.
-
Lack of Information about Assets
The lack of information is a huge concern with us. This broker does not even clearly tell us what types of assets they have available for trade. Besides the fact that there are CFDs available for trade, we do not really know what other types of assets are available here.
The trading conditions, trading platform and assets are what make a broker, and these are all the things that seem to be very unclear with TradeEU. This is not a good sign – even if this broker is authorized by the CySEC.
Conclusion
TradeEU may be regulated by the CySEC, which is quite a feat, however, the lack of information on their website with regard to other parameters is a cause for concern. We would ask traders to be careful while dealing with this broker. In fact, we would not really recommend this broker at all.
TradeEU
Pros
- Regulated by CySEC
Cons
- Lack of Information about Assets
- Issues with Trading Software
- Issues with Trading Conditions
- Issues with Payments
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.