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Tradesto, founded in 2015, offers traders to trade over 50 currency pairs and several types of CFDs on the popular MetaTrader 4 platform.
Company. Fund security
According to the information posted on the broker's website, several companies are registered under the Tradesto brand: Tradesto Corporation in Saint Vincent and the Grenadines, as well as Tradesto UK Limited in England.
In addition, Tradesto claims to be licensed and regulated by the Vanuatu Financial Services Commission (VFSC). Vanuatu is an offshore tax destination where the registration procedure for brokers is quick and inexpensive. The minimum capital requirements are very low, even when compared to other offshore destinations such as Mauritius and Belize - only $ 2,000.
The broker also claims to be controlled and regulated by the authorities of Saint Vincent and the Grenadines under the registered number 22360 IBC 2014. Tradesto is also in the Australian Securities and Investments Commission (ASIC) database with the registered number of the organization 616 567 698.
This company keeps customer funds in segregated bank accounts. To ensure the security and confidentiality of customer funds and information, highly secure systems and SSL encryption protocols are used.
Trading conditions
Tradesto offers trading services for individual and institutional investors.
There is one basic account type available - standard, which includes ECN / NDD execution, leverage up to 1: 500 and variable spreads. A $ 10 / lot commission applies, but there is a cash back program.
Islamic accounts, MAM accounts, joint and corporate accounts are also available with this broker.
There is also a demo version among the offered accounts, however, to use it, you need to enter your personal data.
Minimum initial deposit
In addition to the demo account, the client can open any of the offered accounts by depositing $ 100. This is an average offer in the market, but for joint and corporate accounts, dealing centers often ask for higher amounts. Therefore, it is worth noting that this is a good trading opportunity that Tradesto provides.
Spreads and commissions
Tradesto claims their floating spreads start at 0.1 pips per EUR / USD. Nevertheless, a commission of $ 10 still needs to be added to this amount, and then the average trade cost will be about 1.3 pips for the same currency pair in the best scenario. However, even so, this value is considered average in the online trading industry. For mini lots, the commission is $ 1.
Trading platforms
Forex broker offers its clients the popular MetaTrader 4 (MT4) terminal. This platform suits the needs of almost every Forex trader. You can test your strategy, create expert content or choose from a list of existing ones, use tools for technical analysis. MT4 is available in desktop versions for PC and mobile.
Promotions
There is no information on the promotions on the broker's website. Apparently Tradesto does not offer any bonuses or promotions.
additional services
For beginners, the site has published a number of useful training materials that teach the basics of trading.
Those traders who are interested in partnership can send an application to the website of the Introducing Broker - White Label (WL) or Introducing Broker (IB).
Support service
The company has offices in London and Kingston. For communication, you can use the phone, email, live chat and feedback form.
Support languages supported: English, Chinese, Malay, Vietnamese, Thai.
Tradesto has social media profiles.
Ways of payment
Tradesto offers its customers the following payment methods: credit / debit card, bank transfer and e-wallets Neteller, I-Account, UnionPay, FasaPay, and Bitcoin.
Base currencies: USD and SGD.
Pros:
NDD version; small deposit for corporate and joint accounts; available MT4.
Minuses:
lack of bonuses and promotions.
TRADESTO is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
TRADESTO profits from traders' trades, usually in two main ways
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First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. TRADESTO received a score of 1 of 5 on our resource.