In our review of TradeToro, we see that this broker is not licensed and they opened in April 2018. Trade Toro is using a Forex CFD trading platform called TraderSoft. Available for trading are hundreds of underlying assets from Forex, Crypto Currencies, Stocks, Commodities and Market Indices.
Standard leverage on Forex pairs like EUR/USD is 200:1, and the spread starts at 3 pips. When reviewing their Crypto Currency pairs like BTC/USD, we see that the spread is $135.
Right now, the brokers are only offering investors their simple web based desktop trading platform in English. Hopefully they will soon release mobile trading apps, and the ability to use a profession software like MetaTrader5.
New investors will see many different investment account types at TradeToro, and each one has different added features. Minimum deposit for a basic account is a whopping $500.
Warning! If you plan on using an automated trading robot, first read this!
If you want to verify that a Crypto CFD or Forex broker is legit. See if their government’s financial regulator gave them an operating license. There are many investing scams circulating online, and it is incumbent upon every person to verify your are dealing with a legal company. In Australia a broker must get a license from ASIC, and in the United Kingdom, they should have an FCA license.
TradeToro is not a licensed Forex broker. On April 3rd 2019, the Austrian FMA warned investors not to use this broker.
Did you know that there are hundreds of licensed Forex / Crypto brokers to choose from today? Go have a look at the popular legal brokers, see here.
TradeToro was originally owned by Bravos OU, and located at: Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K050, 10119 Estonia. They are now owned by: Ivory Group Limited, which is located at: Edward Oliver Leblanc Highway, 8J56+6F Roseau, Dominica.
Contact phone number in Dominica is: +1 849-941-2560. Official Email address is: [email protected] Website: https://TradeToro.com.