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TradoSpot

Marshall Islands|5-10 years|
Suspicious Scope of Business|High potential risk|

https://www.tradospot.com

Website

Rating Index

Contact

support@tradospot.com
https://www.tradospot.com

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

Open Now

Disclosure

Danger

EE FSA
2019-03-15

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Warning: Low score, please stay away! 2
Previous Detection : 2024-04-25
  • 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

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TradoSpot · Company Summary

Basic Information & Regulation of TradoSpot

TradoSpot is an Estonian Forex and CFD broker that offers investors a range of financial instruments, including a large number of cryptocurrencies. tradoSpot is not currently subject to any effective regulation.

Safety Analysis of TradoSpot

TradoSpot is currently an unregulated broker, which means that investors' funds are not compensated or protected in the event that the trader misappropriates client funds or faces bankruptcy. Investors should choose brokers that are regulated by the FCA in the UK and CySEC in Cyprus.

Market Instruments of 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.

Accounts & Leverage

TradoSpot has only one standard account with a minimum deposit of $250, a minimum trade size of 0.01 lots, and minimum trading leverage of 1:100.

Spreads & Commissions of TradoSpot

The fixed spread for EURUSD 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 platforms Available of TradoSpot

TradoSpot offers traders an in-house online trading platform rather than the most popular MT4 trading platform on the market today. TradoSpot's inability to offer an MT4 trading platform is a major disadvantage.

Deposit and Withdrawal of TradoSpot

TradoSpot takes 14 working days to process customer withdrawals. Please note that regular brokers generally process customer withdrawals within 4 working days. Additionally, clients will have to pay a fee of €20 per withdrawal via credit card and €40 per withdrawal via wire transfer.

Pros & Cons of TradoSpot

The main advantages of TradoSpot are.

1. Wide range of tradable assets

The main disadvantages of TradoSpot are:

1. No regulation

2. Higher initial deposit requirements

3. Non-MT4/MT5 trading platforms

4. High spreads & high transaction costs

5 .Long withdrawal times & high fees


Broker Information

Company Name

TradoSpot OÜ

Company Abbreviation

TradoSpot

Regulatory Status

No Regulation

Platform registered country and region

Marshall Islands

Company website
Phone of the company

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Twitter

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Facebook

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Instagram

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YouTube

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Company address

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Linkedin

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WhatsApp

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Customer Service Email Address
  • support@tradospot.com

Company Summary

User Reviews

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2

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FX1371420869
more than one year
As far as I know, foreign exchange companies registered in Marshall Islands generally hold its offshore licenses. But it looks like TradoSpot is in a worse situation because it doesn't even have an offshore license, which is relatively easy to get. Won't it be way too dangerous to trade here rashly? I would not invest here.
2023-03-15 10:10
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FX1256224482
more than one year
This is a fraudulent organization and they need to be sanctioned by the authorities. I invested 10k and all I get in return is that they keep disturbing me to add more money. By the time I discovered it was a scam, it was too late... They have run away with my hard-earned money...
2023-02-22 17:31
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