Tradiora review – 5 things you should know about tradiora.com

Beware! Tradiora is an offshore broker! Your investment may be at risk.

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Tradiora poses as an established forex and CFD broker that is particularly suited to beginner investors. But fact checking shows otherwise – this is not a legitimate investment intermediary, but a scam. In this review, we’ll show you how to spot such scams using Tradiora as an example. We’ll also point you to credible forex brokers through which you could take your first steps into financial trading.

Tradiora Regulation and safety of funds

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to.  But Tradiora is completely anonymous. Nowhere is a contact address, company name or regulatory license details given.

The text of the Terms and Conditions refers to Estonian law. However, there is no licensed broker using the Tradiora brand and domain in the Estonian fiscal regulator’s register. Financial authorities in another European country, Belgium, have blacklisted Tradiora.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are many benefits for retail traders to trade through a licensed broker in the EU. These brokers must  comply with all the requirements of the European Securities and Markets Authority (ЕSМА). They must maintain a minimum net capital of at least EUR 730 000, which guarantees that the company is financially stable and has a serious long-term approach. When clients deposit money in their trading accounts, they are kept segregated from the broker’s operating funds in separate bank accounts. Thus the clients’ money remains shielded in case of mishaps like a broker’s bankruptcy.

All brokers licensed in Cyprus and other EU countries are members of the Investor Compensation Fund, which may cover a maximum of EUR 20,000 per person in the event of broker insolvency. EU forex brokers are required to report their clients’ transactions on a regular basis. This requirement is designed to improve investor protection and promote market integrity and transparency.

Tradiora Trading software

Tradiora implements web-based trading software.  We’ve seen the exact same platform being used by multiple fake brokers we’ve encountered. Scammers are using rigged trading software to fool their victims into believing that their money is really being invested and even turning a profit.

If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Tradiora Trading instruments

Tradiora advertises trading with more than 200 market products, including stocks, indices, currencies, commodities, and cryptocurrencies. But we have every reason to believe that the trade offered by this anonymous website is bogus. It is recommended to trade only through licensed and regulated forex brokers.

Tradiora Spreads and cost of trading

In the trading platform we see a spread of 1.1 pip. This is pretty standard for the industry. But there’s no reason to take risks with fishy websites like Tradiora, given that legitimate brokers offer more favorable terms.

Tradiora Maximum leverage

Tradiora advertises a leverage of up to 1:600 and the default trading platform is set at 1:200. This is also evidence that this is not a licensed broker based in the EU. High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. EU regulators limit leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Another such piece of evidence is the claim that Tradiora offers bonuses. Regulated brokers are prohibited from offering bonuses and promotions. Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms.

Tradiora Deposit and withdrawal methods

Tradiora promises fast, easy, and safe deposits and withdrawals, but does not provide any information on payment methods. At the time of writing this review, the deposit menu was not functional.

Scammers prefer cryptocurrencies because these transactions are not subject to refunds. Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

Tradiora Minimum deposit

Tradiora specifies a minimum deposit of 250 EUR/USD, which is the industry standard. But this means that for the same amount you could open a trading account with an established and duly licensed forex broker. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

Tradiora Withdrawal requirements

In the Deposits and Withdrawal Policy  we see familiar scam traps designed to block withdrawal requests. A 10% levy will be charged by an account that has not met the vaguely worded minimum traded volume requirement of “200 in turnover”, which presumably should mean 200 lots, or 20 million currency units.

Withdrawal fees vary between 25 and 50 USD/GBP/EUR depending on the payment method. In addition, there is a processing fee. Legitimate brokers do not normally charge transaction fees, and when they do these fees are much lower.

Tradiora imposes a minimum withdrawal amount of between 100 USD and 250 USD depending on the payment method. There is also a hefty monthly fee of 10% for accounts that have not been active for more than six months.