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TradeiAM Review - is it scam or safe?

TradeiAM Review - Is tradeiam.com scam or a good forex broker?

RATING: 3 / 1 REVIEWS TradeiAM
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Trading Accounts
 

Account type Minimum deposit Maximum leverage Average Spreads
Spreads €25 1:300 From 1.6 pips 
Hybrid €1,000 1:250 From 0.3 pips + $7 per lot 
Commissions only €5,000 1:100 From 0.0 pips + $8 per lot



TRADEiAM is a relatively new project, by an already established broker. The idea is to provide a more casual feeling forex and CFD trading environment for less experienced traders. There are several account types, as described above plus Islamic (swap-free) accounts.

 

Keep in mind that hedging, scalping and algotrading is not allowed on the Spreads account.


The Company. Security of Funds

 

Company name Country Regulation
Vistabrokers CIF Ltd Cyprus CySEC



Vistabrokers CIF Ltd is the company behind TRADEiAM. You may have heared about them, due to their main brand Vista Brokers. The company is registered with the Cyprus Securities and Exchange Commission (CySEC) and as such can operate in the entire European Union.

Cyprus has attracted a lot of forex brokers in the past as the regulatory standards were fairly loose. In time, they tightened the conditions, especially before joining the EU (in 2004). Now with the MIFID rules in place, the island and the preexisting financial infrastructure, the island is still very attractive, but for a specific crowd. Only the honest brokerages remained, while scammers were forced to leave.


CySEC currently mandates brokers implement account segregation. This means, once you deposit money with a firm, they can’t simply take it. Instead, they are forced to keep it in a special account, which can’t be freely accessed. Furthermore there is a compensation scheme, which serves to protect clients in the off-chance of broker insolvency. If you trade with a CySEC regulated broker, your account will be covered up to € 20,000 in case the company goes under.

There isn’t much feedback about Vista Brokers, regarding its other brand. That being said there are a couple of negative comments in popular forex forums.


Trading Conditions



Minimum Initial Deposit

The minimum deposit at TRADEiAM is € 25, which is one of the lowest levels available across the industry. If you want to find an even lower entry barrier, look no further than the FCA-regulated industry pioneer IG. They don’t have a minimum requirement – you can deposit as low as you are comfortable with.


That being said, these levels are only suitable for beginners. Experienced traders should not waste their time with such sums. The stress of trading is pretty similar, whether you trade with $25 or $25,000 (if you care for the $25, of course), despite the very different financial impact.

Spreads & Commissions
Our tessting of the ECN feed at TRADEiAM revealed it is fairly tight, with the EUR/USD spread going as low as 0.4 pips. A $13 commission per lot is also applied. The aggregate spread is around 1.6-1.7 pips ($13 amounts to 1.3 pips). This is close to the current offers by other brokers. Feel free to check the real-time comparison which we have set up here.


Leverage
Leverage at TRADEiAM varies based on your account size. It goes down, with the more capital you have, which is generally good from a risk management point of view.

 

All of these levels are perfectly fine for trading a normal trading system. That being said, some brokers offer even higher levels, like XM, who provide 1:888. Keep in mind this is not only catchy, but a dangerously high leverage ratio.


Trading Platform

 

TRADEiAM offers MetaTrader4(MT4) as well as their own web-based platform and mobile app. As far as MT4 is concerned, this is the world’s leading currency trading solution. It has a solid charting environment, backed up by lots of technical indicators. The platform’s most interesting feature is the fact there are lots of custom tools available – newly developed indicators, market screeners, automated trading systems and more can be obtained at the MQL marketplace. The best part is they are broker independent – you can easily use them on multiple platforms, in case you have diversified with different MT4 brokers. 

 

TRADEiAM’s in-huse web based platform is fairly different. The best way to describe it is “beginner-friendly”. All the necessary information is present, with an additional four charts of different instruments being displayed by default. The one thing which stands out immediately is the pleasant feeling of the colors. 

 

Here is a preview (click to zoom-in):

 

The one key issue we found is the charting itself. Although the bars may look great, and the movement animation is (in our opinion) very smooth, they do lck some functionality. Currently there are only three timeframes available – 1 min, 1 Hour and Daily. Though they can basically serve most traders, there is still room for improvement. Furthermore, only a few technical indicators are available. We believe the platform will be improved upon in the future, but at the moment it’s only decent for checking your positions.


Methods of Payment


There are a lot of payment options available at TRADEiAM. The traditional Wire Transfer and credit/debit card are accompanied by a total of 33 e-wallets. Some of the more popular ones are: Skrill, Webmoney, Cashu and GiroPay.


Conclusion


TRADEiAM is a new project by the CySEC-regulated company Vistabrokers. The new vision is aimed at less experienced traders and possibly mostly mobile users. On the other hand MetaTrader is also offered for the trading vetereans. This is a new broker, and we may reassess this review in the future. Here is a summary of what we have found so far:

 

Pros Cons
CySEC regulated In-house platform lacking functionality
MT4 available  
Lots of payment methods  

 

Latest news about TradeiAM
No news about TradeiAM. Check back later.
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Traders` reviews for TradeiAM

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

TRADEiAM: The €25 is not a bonus it's a real credit to your account

Dear traders interested in starting an account with TRADEiAM.

we would like to clarify some points.

1. The €25 is not a bonus it's a real credit to your account. Please refer to our €25 promotion terms and conditions to understand more .

2. TRADEiAM is not yet live and allowing clients to register we are running last tests and updating our latest versions for the platform.
3. The official launch date is 31st of Jun.

4. The mobile application official launch date is 31st of July.



we are really appreciate your interest in our company and welcome you to join us when we are live, your vote of confidence and interest is not taken for granted.



thank you,

TRADEiAM

Public Relation Department

TRADEiAM 06/23/2017
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