TradoSpot

WikiFX | 2024-11-20 15:17

Abstract：TradoSpot is an unregulated forex and CFD broker operated by a company registered in Estonia and another company registered on the Marshall Islands. It offers a diverse range of trading instruments with a minimum deposit requirement of $250 and maximum leverage of 1:100.

Note: TradoSpot's official website: https://www.tradospot.com is currently inaccessible normally.

TradoSpot Review Summary
Founded	2018
Registered Country/Region	Marshall Islands
Regulation	Unregulated
Market Instruments	Forex, CFDs on indices, commodities, stocks and cryptocurrencies
Demo Account	❌
Leverage	1:100
EUR/USD Spread	Fixed, 3 pips
Trading Platform	Web
Minimum Deposit	$250
Customer Support	Email: support@tradospot.com

TradoSpot is an unregulated forex and CFD broker operated by a company registered in Estonia and another company registered on the Marshall Islands. It offers a diverse range of trading instruments with a minimum deposit requirement of $250 and maximum leverage of 1:100.

However, it is an offshore broker that is not regulated by any financial authority.

Pros and Cons

Pros	Cons
Multiple trading choices	Inaccessible website
	No regulation
	High spreads & high transaction costs
	MT4/5 not supported
	High minimum deposit
	Limited payment options
	Long withdrawal times & high fees
	Limited contact channel

Is TradoSpot Legit?

TradoSpot is operated by two companies: TradoSpot OÜ, which has a contact address in Estonia, and the second, Stepa Acquiring Ltd, which is registered in the Marshall Islands. However, neither of these companies is licensed by any reputable financial regulatory authorities in the industry. Therefore, it is not recommended to trade with TradoSpot.

What Can I Trade on TradoSpot?

TradoSpot offers investors a wide range of financial instruments, mainly forex currency pairs, indices, commodities, as well as a large number of CFD products for stocks and cryptocurrencies.

Currency pairs: over 50 forex pairs, with a number of exotic currencies like Singapore Dollar, Turkish Lira, South African Rand, Indian Rupee, Swedish Krona, Russian Ruble, Polish Zloty, Norwegian Krone, Mexican Peso, Hungarian Forint, Hong Kong Dollar and Danish Krone.

CFDs:

Commdities: spot metals like silver, gold, palladium and platinum, agricultural and energy commodities like cocoa, soybean, corn, wheat, coffee, sugar, cotton, orange juice, copper, oil and natural gas
Crypto: Bitcoin, Litecoin, Dash, Ethereum, Ripple, Bitcoin Cash, Ethereum Classic, Monero, Verge, Swisscoin, Cardano, Stellar, NEM, Qtun, Lisk, Golem, Tron and Wavecoin.
Stocks
Indices

Tradable Instruments	Supported
Forex	✔
CFDs	✔
Commodities	✔
Indices	✔
Stocks	✔
Cryptocurrencies	✔
Bonds	❌
Options	❌
ETFs	❌

Account Type

TradoSpot has only one standard account with a minimum deposit of $250, and a minimum trade size of 0.01 lots.

Leverage

The maximum trading leverage is capped at 1:100. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spread

The fixed spread for EUR/USD shown on TradoSpot's official website is 3 pips, which much higher than the industry standard. Wide spread means high transaction cost borne by traders.

Trading Platform

TradoSpot offers only a web-based trading platform with restricted functionalities. Consequently, we advise you to opt for a legitimate broker that provides a professional trading platform, such as MT4 or MT5.