Tradeo Review – Fast and Easy Crypto Social Trading

Tradeo offers users a dynamic social trading platform that is ideal for traders of all expertise levels. With an easy-to-use set of trading tools and excellent social features that include copy trading, autopilot, and transparent information about expert traders, Tradeo presents an excellent solution for those seeking to gain exposure to the burgeoning crypto market with CFDs.

Login and Signup

To create an account with Tradeo, the first step is to visit the company’s home page and hit “Sign Up”. You’ll have to provide basic details—your name, email, a password, and your phone number—as well as agree to the company’s legal terms. Alternatively, you can choose to sign up with either your Facebook or Google accounts to speed up the process.

Once you have created your basic account, you will receive access to Tradeo’s virtual accounts, which let you simulate real trading with no risk. To open a real account and start depositing funds, you must complete the verification process

The first step in verification involves answering a series of questions regarding your identity and nationality. You are also asked to offer your profession, the extent of your education, your financial knowledge, earnings, and your past investing experience.

You must then agree to the company’s declarations—a risk warning and deposit notice, before uploading your documentation. These documents include a photo of your passport or ID, a proof of address such as a utility bill or lease agreement, and a photo of your preferred funding method (if you are using a credit or debit card). It’s important to keep in mind that there are some countries here users are restricted from using the platform, so ensure you can participate before completing the registration and verification processes.

How it Works

Once you’ve finished the verification and registration processes, you’ll be redirected to your trading dashboard, which includes information about your open accounts, the traders you’re currently following and copying, as well as your account settings. You can visit Tradeo’s WebTrader and even download MT4 if you are more familiar with this highly standardized trading platform.

When your account is verified, you will be able to deposit funds directly from your dashboard. To complete a deposit, you simply need to provide the payment details (your name, location, email, and basic contact information), as well as the payment method information. Unverified users can add funds to their account (a maximum of $2,000) and trade on their profile for 15 days. If the account is not verified in that time, however, users’ funds are returned (minus any trading losses), and the account is shuttered.

From your dashboard, you can view the top traders on the platform and browse their profiles, which feature data about their success rates, the number of followers, and the returns their trades have generated. To start copying a trader, simply choose the one you prefer and select “Copy”. Once you see the dialog box, you can choose which account to allocate your funds from, select the amount you wish to allocate to the specific trader, and establish a total loss limit to minimize your downside.

On the left side of your dashboard, you can find all of Tradeo’s tools, including the company’s WebTrader, a Markets page which displays all the crypto pairs Tradeo offers along with their current price and buy/sell levels. Additionally, you can access the company’s Market Tools, which include market quotes, an economic calendar, and a section filled with financial news.

On the WebTrader platform, you can directly purchase or sell any of the assets you’re holding by clicking on one of the pairs listed on the left column and picking “Buy” or “Sell” before selecting the chosen amount. Moreover, you can click on “Trades” in the same column to review trades others have made, as well as how much a trade returned. You can instantly copy specific trades by clicking on the “Execute” button

Supported Countries

Tradeo does not explicitly ban any country from its service, so theoretically any user can join when they want. However, there are a few limitations on users from a few countries. The company is explicit in noting that while they are open to any customer, they do abide by local restrictions and international regulations.

As such, the company does limit its service in Japan, the United States, Canada, Turkey, Singapore, and Australia. These countries all have strict rules regarding CFD trading and Tradeo’s license does not extend to them. Other countries may be included in this group, but Tradeo handles these matters on a case-by-case basis for locations not mentioned above.

Supported Cryptocurrencies

Traders on Tradeo do not actually buy or sell cryptocurrencies themselves, but rather a “contract for difference” (CFDs) which are effectively a derivative of currency pairs that mirror price movements in the underlying asset. The company does offer several pairs based on cryptocurrencies denominated in both US dollars and Euros. The CFDs are based on some of the most popular cryptocurrencies: Bitcoin, Ethereum, Litecoin, Dash, and Ripple. Currency pairs include BTC/EUR, BTC/USD, DSH/USD, ETH/USD, LTC/USD, and XRP/USD. For users seeking to purchase coins themselves, Tradeo is not the optimal venue, but it does provide great access to the market for retail traders who are searching for exposure to the market with some degree of insulation from the volatility. Furthermore, the structure of CFDs enables users to establish short positions, a feature which is typically unsupported by cryptocurrency exchanges.

Deposit/Trade/Withdrawal Fees

Unlike some trading platforms, Tradeo does not charge any fees related to deposits. There is also no limit to how much can be deposited at once. Tradeo does collect some fees though they are taken from the transaction itself rather than from users. The company receives compensation for the bid-ask spread in each CFD—the difference between the buy and sell prices—so it does not include any other costs for users on transactions.

Transfer Limits

Because users are only depositing and withdrawing fiat currency from their accounts, the company does not place hard limits on either deposit or withdrawal amounts. There is no maximum amount on either deposits or withdrawals, but the company does place some minimums on deposits. Users must deposit a minimum of $250 to be able to trade, though the company may make some exceptions based on users and lower that limit to $100. On the withdrawal side, the company does not have a set limit, but suggests a minimum of $15, which is the equivalent of most banks and payment processors’ associated processing fees.

Payment Methods

You have a variety of options when it comes to funding your Tradeo account. The company accepts credit and debit card payments from any of the major credit card issuers as well as wire transfers. Tradeo also accepts online payments from Neteller and Skrill. Depending on a user’s country of residence, the company may also support additional deposit methods, though these are handled on a case-by-case basis.

Security: Is It Safe to Use?

Users will be happy to hear Tradeo has not had any reported hacks or vulnerabilities, and the company is indeed aggressive when it comes to closing any gaps in security. Tradeo operates a bug bounty program which rewards users who uncover any vulnerability and requires users to verify their account before they have access to all of their services. There is, however, no option to set two-factor authentication, which is a valuable security tool offered by most exchanges. Even so, the company’s spotless record inspires confidence in its defenses.

Company Reputation

The company is managed by CEO Jonathan Adest and has been since its inception. Today, Tradeo has offices in three countries and counts nearly 100 employees. Its clean safety record and consistently positive reviews position Tradeo as one of the most popular social trading platforms available.

Conclusion

Tradeo offers beginners the opportunity to gain exposure to the cryptocurrency market without having to go through the complicated process of getting ready to buy and sell coins. Its focus on CFDs means users who have some experience with more traditional assets will have an easier time understanding the crypto market. More importantly, the platform’s social features let even the most inexperienced investors generate returns thanks to a stable of top traders and an easy-to-use interface that gives users full control over their chosen investment strategy.