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No Regulation
Score
1.31 /10
Danger
Trade Socio CY
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Comparison
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Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index5.43
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
2
Previous Detection :
2024-11-12
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
Note: Trade Socio CY' official website: https://sociomarkets.live/ is currently inaccessible normally.
| Trade Socio CY Review Summary | |
| Founded | / |
| Registered Country/Region | Cyprus |
| Regulation | Unregulated |
| Market Instruments | Currency, crypto, indices, stocks, commodities |
| Demo Account | / |
| Leverage | Up to 1:1000 |
| Spread | From 0.0 pips |
| Trading Platform | MT4 |
| Min Deposit | $10 |
| Contact Info | Phone: +357 25 861700 |
| Address: Archiepiskopou Makariou III, 169-171, Cedars Oasis Antwork, 3027 Limassol, Cyprus | |
TradeSocioCY is a forex broker based in Cyprus. Traders can explore various markets through MT4 provided. Their minimum deposits are reasonable. However, it is not regarded as a legit broker due to its unregulated status and inaccessible website.
Pros and Cons
| Pros | Cons |
| MT4 provided | No legit forex license |
| Inaccessible website | |
| Limited ways to funding |
Is Trade Socio CY Legit?
Trade Socio was registered on November 23, 2023. As of now, it is currently in an “ok” status. The last update to the domain was on September 30, 2024. But as of now, their website is not accessible. Besides, Trade Socio CY has no regulation. These factors suggest it is not a legit broker and trading with it hinder risks!
What Can I Trade on Trade Socio CY?
Trade Socio CY offers currency, crypto, indices, stocks, and commodities. There's no ETFs trading or bonds trading.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Stocks | ✔ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
Trade Socio CY offers three kinds of live accounts- the Beginner, Standard and Premium accounts with the minimum deposit of $10, $50 and $200 respectively.
Leverage
Trade Socio CY provides leverages for three types of trading accounts: Beginner (1:1000), Standard (1:1000), and Premium (1:500). Yet high leverage can lead to significant profits, but it also comes with increased risks.
Trade Socio CY Fees
Trade Socio CY offers spreads- the Beginner accounts: 2.2 pips, Standard accounts: 1.0 pips and Premium accounts: 0.0 pips. Besides, they do not charge commissions.
Trading Platform
Trade Socio CY offers MT4, which supports over 30 indicators as well as custom indicators. But it should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading.
Deposit and Withdrawal
In the deposit section, the only available option is to transfer funds to a personal Indonesian bank account.
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