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Tradesto Review - Is it scam or safe?

Tradesto Review - is tradesto.com scam or good forex broker?

RATING: 1 / 1 REVIEWS Tradesto
Tradesto is an offshore broker. Your money is not safe.

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 Trading Accounts & Conditions

 

Account type  Minimum deposit Minimum trade size Maximum leverage Spreads
Standard $100 1:500 1:500 From 0.1 pips + $10/lot

 

Tradesto offers its clients one basic account type – a standard MT4 one which is said to offer ECN/NDD execution with leverage up to 1:500 and tight variable spreads. A commission of $10 per lot applies, and there is a cash back program, with which it may be reduced.

 

Swap-free (Islamic) services, as well as MAM, joint and corporate accounts are also available with this broker.

 

It appears that the variable spreads offered by this offshore broker are low, starting out at 0.1 pips for the EUR/USD, however we could not test them. Tradesto claims to offer demo accounts, but in fact, it won’t let you sign in, unless you provide personal information such as national Identification No. and full name as per ID, which is ridiculous, to say the least.

 

Nonetheless, if we add the applicable commission of $10/lot, the average cost of trading per lot with Tradesto is would be around 1.3 pips in the best scenario, which is average for the forex market. You may trade with similar or lesser costs with brokerages far more reliable than Tradesto – for instance, you can open an account with forex giant FXCM with just $50 (Tradesto requires twice as much as a start) and enjoy trading with spreads averaged 1.4 on EUR/USD and no commissions.

 

For further information and comparison, you may look up the real-time spreads of 15 leading brokers here.

 

The Company. Security of Funds

 

Commpany Country Regulation
Tradesto Limited Vanuatu  N/A

 

Founded in 2015, Tradesto offers trading in more than 50 currency pairs and several types of CFDs on the popular MetaTrader 4 (MT4) platform.

 

According to the broker’s website, there are several companies behind the Tradesto brand: Tradesto Limited, which is a Vanuatu registered IBC; Tradesto Corporation, registered in the St. Vincent and the Grenadines; and Tradesto UK Limited, registered in England and Wales.

 

Furthermore, Tradesto claims to be licensed and regulated by the Vanuatu Financial Services Commission (VFSC).  Vanuatu is an offshore tax-free destination, where registration procedure for forex and binary brokers is fast and low cost. Minimum capital requirements are very low, even compared to other offshore destinations, such as Mauritius and Belize: only $2000.

 

When we checked the online register of the Commission, it returned no results for Tradesto. We cannot say whether VFSC has technical problems or the broker is lying, in either case we would not recommend investing with Tradesto.

 

We would advise you to select a forex broker licensed in UK, Cyprus, or Australia for instance, where traders have certain level of protection and where financial watchdogs exercise supervision over financial services providers.

 

Trading Platform

 

Tradesto offers its clients the most popular forex trading platform, MetaTrader 4 (MT4). It is easy to use and offers all a trader needs: a number of technical analysis indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to fully automate their trades. It comes in desktop, web and mobile versions with this broker.

 

Methods of Payment

 

Tradesto offers its clients the following payment modes: credit/debit card, bank wire transfer, and e-wallets Neteller, I-Account, Fasapay, as well as Bitcoin and Yuucollect local bank wire.

 

Only FasaPay is free-of-charge.

 

Conclusion

 

Tradesto is an offshore forex and CFDs broker that  uses the standard MT4 and claims to offer pure NDD environment. Our main concern with this broker is that it is not regulated and it could be yet another scam. Here are, in a nutshell, the pros and cons of Tradesto:

 

Pros Cons
MT4 available Not regulated, could be scam
Tight spreads No demo accounts
NDD environment  

                                              

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Traders` reviews for Tradesto

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

Pros

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Not profesional trader

I invested 2k for them to trades 5 months never gain and all equity loss. Don't trust them and please deeply study their background.
They never control stop loss will tell you a lot nonsense after loss equity.

KS Teng 05/28/2019
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