TradeToro review discussing every aspect of the broker
TradeToro is newly established broker that offers to trade CFDs on multiple cryptocurrencies. while the broker was founded in 2018 it already got the attention of many traders who want to trade with crypto CFDs. While many CFD brokerages offer to trade with multiple trading assets such as Forex, commodities, precious metals and etc. TradeToro specializes in cryptocurrency trading and has its services designed exclusively for crypto CFDs.
If you are thinking to trade with the broker, make sure to read the TradeToro review that explains what exactly the broker is like and what kind of service does it provide to the traders. The broker is registered in the Commonwealth of Domenica, it offers to trade several crypto assets on its own web-based platform. The minimum deposit with the broker is 500 USD. Traders have a choice to choose from 5 trading accounts and choose the desired payment method from the multiple options.
The website of the TradeToro creates a very good first impression of the brokerage. It is well designed and works without any errors. On the navigation bar, there are links to the essential information, one can find the guide to Bitcoin, Ethereum trading, and trading guide for cryptocurrencies in general. There is information about the payment methods one can use with the broker and account types. While making TradeToro.com review I also found that the broker offers trading academy which can be used by beginner traders as well as experienced ones. There is an education center, articles about trading, chart analysis, video chart analysis, and weekly market review. It is always good to see that the broker tries to support traders and provide fresh content for education and it clearly increases TradeToro rating.
Trading conditions with TradeToro
According to the website, there are up to 40 assets that can be traded with the broker. It includes one of the most popular pairs such as BTC/USD, XRP/USDT, ETH/USDT, as well as the pairs of cryptocurrencies that are not that popular and widely common yet, for example, NXT/BTC. As the broker gives a wide choice of the trading assets every trader might find desired cryptocurrency pair to trade with.
Traders have the possibility to use the leverage up to 1:20, however for most of the cryptocurrency pairs available leverage to use is 1:2, and 1:5. At the same time, the broker offers tight spreads that, alongside with leverage for each pair can be seen on the TradeToro’s website. Our TradeToro opinion based on the trading conditions is very positive. However, the minimum deposit is a bit higher than we would like it to be. The broker requires 5o0 USD, EUR, and GBP for the basic account. For some traders, it might be very high, but on a positive note, we can say that the broker does not charge commissions and does not have any hidden fees, hence the deposit can be used fully and solely for trading purposes.
TradeToro account types
TradeToro offers five account types to its customers Basic, Bronze, Silver, Gold, Platinum accounts and an additional Black account for top investors. All accounts come with the basic features: support, access to education center, daily market reviews, and pro webinars. The broker offers additional features that are accessible for holders of certain account types. Traders have the possibility to check all features and make decision-based on their trading needs and goals.
TradeToro withdrawal and payment methods
Another advantage I have found while making TradingToro review is the withdrawal policy and diversity of payment methods. TradeToro offers several payment methods for depositing and withdrawing funds from your trading account. The list of the payment methods includes Visa, MasterCard, BPay, EFTpay, as well as Bitcoin and Ripple payments.
The TradeToro withdrawal policy is pretty much the same as you can find with the other brokers. One can request withdrawals via the trading account and provide with the legal documents. After that, the broker might take up to 3 business days to confirm your withdrawal and the time to receive the money depends already on the payment method you use. The broker does not charge any commissions or additional fees for depositing and withdrawing funds while using a credit card, or e-wallet transactions. There is a fee of 30 USD for using bank wire transfer which is charged by the bank itself. It is not much of a problem since it is not the only available payment methods and one can simply choose the one without any additional charges.
TradeToro customer support
Customer support is one of the most important features of the broker. While making TradeToro review we checked the ways one can contact the representative of the broker. There are three ways to get assistance from the broker. Those who need assistance for urgent matters can contact the broker via phone. traders can also send an email to the broker’s representative or use the live chat which is one of the most convenient ways to get assistance. While opening a live chat you might see that the broker requests a phone number, but it is not obligatory, you can simply skip it and write your message and indicate your email. It is very easy to get help from the broker as the representative replies in no time on live chat. Based on the review, and the fact that the broker makes it very easy to contact it, we can surely say that there is no sign of TradeToro scam or a fraud.
Can TradeToro be trusted?
While TradeToro is relatively new brokerage it is obvious that the broker is here to stay as it is trustworthy and provides high-quality service to traders who prefer to trade with CFDs on cryptocurrencies. TradeToro offers a good variety of trading assets, has zero spreads and leverage that encourages traders to trade responsibly. The broker has well-designed account types and traders can choose the account which is most convenient for them based on their trading budget, knowledge, and trading goals. Both trading accounts and educational materials are designed in a way that it can be used by the beginner and experienced traders successfully. Based on TradeToro review we can confidently say that the broker can be trusted. Alongside the features mentioned here, the absence of commissions, good withdrawal policy, and dedicated customer support team makes TradeToro one of the best choice for the traders who want to trade CFDs on cryptocurrencies, and learn more about the assets.