- Free full featured demo account
- Modern look and feel
- Good risk management
- Easy sign up
- Low costs
- Newer network with limited trader statistics
- Very few deposit and withdrawal methods
- Limited support/knowledgebase
Tradeo provides a free demo account with a $50,000 starting balance and signing up is very simple thanks to Google, Facebook and Twitter integration.
There’s also no need for any additional information once registered, which means getting started really takes seconds.
As of May 2014, Tradeo no longer uses third party brokers, but is fully integrated and getting started with a live account is as simple as completing some info on your existing demo account and uploading your compliance documents via the Tradeo website. The minimum deposit is only $100 or the equivelant in any of the supported account currencies (USD, EUR, GBP and JPY) but can only be done via credit card or wire transfer.
Another great feature of Tradeo is a very detailed interactive tour of pages visited for the first time. This allows users to get started that bit faster and eliminates the need to search around for settings etc.
Platform Features & Usability
Whilst the Social WebTrader platform works really well and looks very modern, unfortunately it feels very overwhelming most of the time. This might not be the case for everyone, but in our opinion the sea of borders could be simplified and doing a little bit less might not be a bad thing. That said, most information can be hidden and users can switch between a light or dark interface which helps.
The second aspect of Tradeo’s platform is finding traders to copy, and where their Social WebTrader platform overwhelms, the traders interface does the exact opposite and was a rather big disappointment.
The very grey interface features information such as experience (traders own input), trading approach, trading style, language and the ever mysterious Social Trading Meter. Whilst this information might be of some interest, it’s most certainly not what we’d be looking at when deciding whether to copy a trader.
Tradeo does however support MT4 and has a promising mobile app on the way.
Tradeo is free to use and only takes their cut from the rollovers and spreads. Deposits are also free, however withdrawals carry a fixed charge of $20.
Traders & Social Community
Socially the community is very active and Tradeo is one of the better socially integrated platforms, however they still don’t quite match up to the likes of eToro.
Tradeo offers some degree of risk management by allowing clients to copy using fixed lot sizes or alternatively using dynamic lot sizes with an optional maximum size.
In our opinion this would be perfectly sufficient for 99% of Tradeo clients.
A flat rate of $20 is charged per withdrawal and as with deposits, withdrawal methods are currently limited to credit card or wire transfer.