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Trade.io Review - is it scam or safe?

Trade.io Review - Is trade.io scam or good forex broker?

RATING: 2.4 / 5 REVIEWS Trade.io

RECOMMENDED BITCOIN BROKERS


Trading Accounts and Conditions

  

Account type

Min. deposit

Leverage

Taker fee

Maker  fee

Withdraw fee

Standard

$50 (fiat)

N/A

0.1%

No

0.0005 BTC

 

Like many other similar projects, Trade.io started out with a token crowd sale and ambitious promises. It ended its ICO in January 2018, raising over $31 million, which have been invested in the crypto exchange services it now offers.

 

Trade.io is a centralized cryptocurrency exchange located in Hong Kong. It currently rated #148 in terms of trading volume by Coinmarketcap. The most active trading pair on Trade.io exchange is SOLVE/ETH.

 

Besides, the group of companies behind Trade.io also run FCA-regulated forex broker Tio Markets.

 

 

Trade.io Advantages

 

Low fees

The low trading costs are an important advantage of any investment platform. Trade.io does not charge deposits, nor applies a maker fee. Clients of the exchange have to only pay 0.1% taker fee, as well as some fees for withdrawals, which are not high by any standard. For example, withdrawals in Bitcoin are charged 0.0005 BTC. Here is the detailed information on withdrawal fees:

 

 

Click to zoom in.

 

Many coins available for trade

Trade.io offers a plethora of altcoins for trade, including ETH, LTC, BCH, NEO, OMG, EOS, BAT XLM, ZRX, GAS, XEM, ATOM and many others. They are traded against BTC, ETH, USDT, the exchange’s native token TIOx, an some recently added FIAT currencies. Besides, trading in FIAT currencies will be launched soon.

 

Nice user-friendly trading platform

Another part of Trade.io’s offering we like is the nice web platform. It has a simple interface, charts powered by TradingView, cool widgets and is perfectly customizable. Here is a snapshot:

 

 

 

Click to zoom in.

 

We also have to mention that Trade.io seems very suitable for newbies, although FIAT deposits have been recently allowed on the exchange. Their website features a lot of educational videos on how to deposit from your wallet, how to trade, how to withdraw, and more, so anyone can easily find their way through

 

Tokens generate recurring income

The native token of the exchange Trade Token X (TIOX) entitles those who hold at least 2,500 TIOs to a certain daily revenue generated at Trade.io. This sounds like good offer.

 

 

Trade.io Disadvantages

 

Has been hacked

Trade.io has become a victim of cyber-attack in October 2018. The then Swiss-based crypto exchange lost around $8 million worth of crypto TIO tokens stolen from a cold wallet.

 

Although the incident did not affect users since the cold wallet hacked belongs to the company, many are still wondering whether the incident has not been an inside job.

 

No margin trading

Trade.io does not support leveraged trading. Some see leverage as a golden opportunity to score large profits with a couple of bucks, while others, usually more experienced traders, rather find it too risky.

 

Nonetheless, if you need some leverage, some major crypto-exchanges, like Kraken provide such. Besides, there is a number of forex brokers that offer trading in cryptocurrency CFDs on margin.

 

Not regulated

Group Companies behind this exchange include trade.io AG, trade.io Technologies Limited, trade.io AG Limited, trade.io Pte Limited, trade.io Exchange Proprietary Limited and trade.io Financial Limited. They appear to be formally operating out of Hong Kong, or at least that is what we read in their Terms and Conditions.

 

Although the local Securities and Futures Commission (SFC) has set in motion a some measures regarding crypto venues, a formal regulatory environment is not yet in place in Hong Kong. Although the lack of regulation is not something unusual in the crypto-world, we have to mention it.

 

 

Conclusion

 

The Trade.io project was backed by the trading industry veterans from FXPRIMUS, as well as the FCA-regulated boutique brokerage Primus Capital Markets UK Ltd, and was marketed as an innovative attempt to bridge the gap between traditional finance and the blockchain. They had plans to obtain a Swiss Banking license as well as meet US trading regulations, along with initial MT4 integration, however this still remains only in their ICO white paper. Instead, they moved to Hong Kong and currently offer a centralized crypto-to-crypto exchange service that is actually nothing special in the sector. At least they offer a decent collection of coins and the cost of trading is attractively low.

 

We would like to remind you that you can also trade in cryptocurrency CFDs with forex brokers, and below you can find a list of companies that are duly licensed by the respective financial watchdogs.

 

 

>> Regulated forex brokers offering Bitcoin trading<<

 

 

Here are the weak and strong sides of this exchange: 

 

Pros Cons
Low fees Has been hacked
Many coins available for trade Leverage not available
Nice user-friendly trading platform Not regulated
Tokens generate recurring income  

Latest news about Trade.io
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Traders` reviews for Trade.io

Spread

Pros

Cons

 

 

Slippage

Pros

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Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

It is safe and I am happy

I've been trading in trade.io exchange for months now and I am very satisfied with it.

The exchange is good, the services and the offers/products are amazing and it has been a month since they launched their MT5.

The team is very humble and responsive. Nothing fishy nor it is a scam.

Ayanapa 01/15/2019

They issued threats to my elderly parents

They came at my parents through investing.com Toronto ON. Kept calling back even when they were told we were not interested. 7 times in 30 minutes, at mealtime. When I asked them to put our number on their do not call list, they threatened to put us on a "call every day" list. Hung up.
Called back. I said I would notify the police. They said "What do you think the police can do to us?". Hung up.
Called back. I pretended to be interested. That is where I got the tradinglive.io site.
There is no way to contact either company without divulging personal information first.

Active threats to harass elders is not cool no matter how you slice it.

Craig Gaebel 01/04/2019

Definitely a scam

They are relentless cold callers. I have no idea how they got my details, but they keep contacting me to try and buy ICO tokens they are trying to sell. After looking in to their company it seems extremely dubious. They were hacked during the summer, always a bad sign. Seems like a very disreputable outfit.

David 12/11/2018

Most annoying scammy people

This organization keeps calling for the last 5 months, and they do not understand when they should not call. They are harassing by cold calling, being disrespectful and not understanding at all. This is the shadiest company ever. Never have any business and relationship with them. Report to the police because these guys will not stop.

Robert 10/12/2018

They took my money and haven't sent any tokens. AVOID

The tradeio.eth address doesn't work so I sent it to their proper address. After messaging them on telegram, they said "they don't think so" when i asked for a refund, or the coins to be sent to me. I have emailed them and will edit this review with the outcome.

Stelios 01/02/2018
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