Thinking of getting into business with Tradon? Here is what you must know about this broker. Carefully read this review to find out if tradon.io is the trading platform you will want to trade with.
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About Tradon Broker
Tradon is an offshore brokerage company with a lot of promises for traders. The broker operates under the Ingenue Consulting LLC with an incorporation in Saint Vincent and Grenadines.
The broker offers different account types such as Cent, Pro Trader and Prime.
Added, it trades on the following assets like forex, stocks, commodities and indices.
To clarify, regardless of the trading instruments Tradon claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
tradon.io: Reasons to Avoid This Broker
Firstly, tradon.io is a platform with no financial authority overseeing its financial services. We discover this broker is not worth your money because Financial Services Authority SVG does not monitor or regulate brokers. Here is an alert from FSA Saint Vincent and Grenadines on any broker claiming its regulation.
Secondly, we noticed tradon.io has no demo account for traders. Since traders can’t test the broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Tradon withdrawal process takes 2 to 5 business days with an unspecified withdrawal fee traders are subjected on any withdrawal request.
Added, for an inactive account of 3 months, the broker charges 10% on each month.
Minimum Deposit
Tradon minimum deposit is pegged € 250 according to the account type.
As for the payment methods, the broker mentions Credit/ Debit cards, Bank Transfer and more. However, you should not consider making any payment with this broker because it is a risk. So beware!
Tradon Platform
Tradon offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, the broker discusses 1:300. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Tradon Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Conclusion: Is tradon.io a Reliable Broker?
No, tradon.io does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
We owe our readers the duty to fish out scam forex brokers as well as share reasons to avoid fraudulent schemes. Meanwhile, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
I was scammed out of my life savings from Tradon.