As soon as cryptocurrency hype stated the crypto brokers appeared one after another. While several of them were actually offering a good service and are legitimate, many of them were there to benefit from the lucrative market. Therefore, when the new brokerage appears the traders are usually suspicious that it might be a scam. Since TradeToro is one of the brokerages that was established in 2018 there are also thoughts about TradeToro fraud or scam. It is important to examine the broker carefully and see if TradeToro is really leading some kind of scam scheme or if it is a reliable broker that can be trusted by the traders worldwide.
Here we will discuss the background of the broker, the features, service that it is offering to the customers and trading conditions in details to see if the broker is legit or actually leading some kind of scam scheme. If you have been thinking about trading cryptocurrencies with the broker, make sure to read this TradeToro review to make the right decision.
Leverage: 1:20 Licences: N/A
Min. Deposit: 500 USD Bonus: N/A
Spreads: 0 pip US Clients: No
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Can TradeToro be trusted?
The company behind the brokerage is Ivory Group Limited registered in the Marshall Islands. It is more common for the CFDs brokers to register offshore since the CFDs regulations in Europe are getting tighter. There are no reviews or opinions made by the customers that would indicate that the TradeToro fraud is either real or possible. There has not been any case where customers made complaints against the broker, meaning that TradeToro is providing legit service.
The website of the broker also indicates that the broker is trustworthy. The website is professionally created, it works without any issue, and has an SSL certificate that means that the information of the customers is safe and secure. Contentwise, the website is also good, one can find all the needed information there, and most importantly the details that TradeToro showcases on the front page are not misleading or false. One more thing that adds points to the TradeToro rating is that the broker also provides educational materials to the traders and website visitors. There are a lot of articles and analysis available for website visitors, and the broker has an educational center which is accessible for traders who have any kind of account with the broker.
The minimum deposit, spread, leverage
The minimum deposit that is required to open an account with TradeToro is 500 USD. It is a bit higher than the minimum deposit you might see with other brokers. However, the other features of the broker are good compared to what other brokers might offer. According to the website, the spreads start from 0 pip, while making the Tradetoro.com review I checked the actual spreads and they do really start from 0. The leverage depends on the cryptocurrency pair one wants to trade, the maximum leverage available is 1:20.
TradeToro Withdrawal and fees
The broker provides a detailed explanation of how one can submit the withdrawal request. One can use credit/debit card, bank wire transfer, and several eWallets to cash out money. According to the broker, there are no commissions for TradeToro withdrawal. There is only bank wire transfer fee 30 USD, however, if traders do not want to pay any additional money they can use other payment methods. It takes up to three working days for the broker to process withdrawal requests. After confirmation, the withdrawal time depends on the payment method one can use. Similarly to deposit and withdrawals, there are no commissions for the other services as well which creates very good TradeToro opinion.
Sometimes one can guess if the broker is a scam or not based on customer support. If the broker does not provide a phone number or does not provide easy means of communicating with the representative it might indicate that the broker is not trustworthy. TradeToro has very good customer service. One can use live chat, where it is very easy and fast to get professional support. At the same time, one can directly contact the broker representative via phone for the urgent issues. Last but not least, one can have email communication with TradeToro customer support team. The fact that the broker is open for communication and has a professional customer support team excludes the possibility of TradeToro fraud.
Based on Tradtoro.com review we can confidently say that the broker is trustworthy. It does not mislead customers or does not provide false information. Traders are able to find needed information on the website very easily and make sure that they know every important detail of the broker. The broker offers over 40 trading instruments, has low spreads. and its own trading platform and trading app for mobile trading. Traders are able to choose from the five accounts and have access to the educational center. TradeToro also has a high-quality customer service and ensures that traders are getting needed assistance whenever they need to. Hence, we can confidently say that TradeToro fraud is not real, the broker offers good service, is trustworthy and a good choice for cryptocurrency traders.