What is Tradeo?
Launched in 2012, Tradeo is an open social trading network for Forex traders from all over the world. Their main purpose is to allow individual traders to collaborate with each other, discuss ideas and automatically copy other successful traders. While initially anyone with an MT4 or ACT compatible broker account (in total over 50 global brokers were supported) was able to connect, in May 2014 Tradeo launched their new platform and announced that they will now be a Forex broker as well.
Since then they no longer support external brokers and their service is now fully integrated. In terms of brokerage, Tradeo is an STP broker which means they transmit your trade to the liquidity providers through a fully automated, non-dealing desk intervention system. I.e. they do not benefit from your losses.
It’s totally free to join the Tradeo network and use their platform. If you don’t want to open a live trading account yet, Tradeo allows you to open and connect a demo account. Their brokerage service offers a choice of 170 FX and CFD instruments, with 1:200 leverage.
Once connected, you can use Tradeo’s platform in 2 ways (or a combination of both):
- Trade yourself in a social way using their “Social WebTrader” interface.
- Follow trade signals from other traders
Tradeo Social WebTrader
SocialTrader was launched in December 2012. It is a complete web based trading platform with fully integrated social network features. Where on most trading platforms users have to switch between the social information screens and the trade execution screens, Tradeo’s Social WebTrader is one of the first platforms to fully integrate both ‘social’ & ‘trade execution’ within the same visual interface.
The key features (all accessible from the same screen) of SocialTrader are:
- Real-time price streaming based on each user’s connected trading account.
- Full trade execution & management capabilities including one-click open and one-click close for multiple positions.
- Real-time charting of any chosen instrument. In addition to the normal chart features (e.g. drawing Fibonacci lines or changing timeframes) SocialTrader also adds “Social Charting” features to the charts:
- layers the positions and orders of other users onto the chart real-time
- enables collaborating on a trade by clicking on the position on the chart
- allows trade execution directly from the chart
- Social Feed with broadcasts and signals posted by other traders from the Tradeo community.
- Trading Feed with details about trades of people you follow and your copied positions.
- News Feed with the latest major news events from around the world.
- Chat Functionality to discuss the market privately with other connected traders.
Tradeo allows users to find and follow other successful traders on their social trading network. Traders can be filtered using a variety of parameters, such as experience, trading style, average trade duration, drawdown, real/demo account or average leverage. They are also grouped in different categories such as ‘risk takers’, ‘top traders’. ‘most followed’ and ‘low risk’. Tradeo also recommends traders specifically for you.
For each trader some additional information such as a historic profit graph are provided. From these Tradeo Trader screens a user can choose to follow the trader. Automatic copying is no longer offered since Q2 2017 due to some regulation changes. However customers can still copy the trade signals from the traders they follow, direct from their social feed.
Any user connected to Tradeo’s social trading network can choose whether to share their trades or not. There’s no commission paid for sharing trades, but traders who join have full free access to the SocialTrader trading platform. The platform is available in 8 languages, adding to its global appeal, and in October 2016 Tradeo had about 7,250 connected users from looking at the list of active traders in our live account. Because of the way Tradeo changed their platform and trader search functionality since then, it’s not possible to get an idea of a more up-to-date number of users.
Tradeo.com is operated by FXGlobe Ltd, a fully licensed Investment Services Company authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).