Sometimes it’s hard to understand what the creators of another Forex/CFD broker are aiming for. Promises of zero spreads, modern copy-trading technologies, and high execution speed for client orders may attract not only beginners but also experienced traders. However, even users with minimal experience in financial markets ask themselves how transparent and honest the company is, and whether it is safe to trade on its platform. Our Tradiso review is here to answer these questions.
Key Features
- Company Name: Tradiso Group Ltd
- Website: https://tradiso.com/
- Available Contacts: [email protected]; +6285190110611
- Foundation: 2024
- Services: Forex/CFD trading
- License: No
- Initial Deposit: No minimum
From Sign-Up to Payout
We have the impression that the official website of Tradiso is organized, at least, inefficiently. Its main menu does not provide access to all pages. However, when opening any section, a side menu appears where you can find pages that are not visible in the main menu. This looks, at the very least, strange.
There are also many problems with the content. Consider the following:
- On the pages describing the markets, you will only find general, trivial phrases that provide little insight into the specifics of trading.
- Tables with trading instruments, which should at least include the spread, are completely empty.
- The page body, where users were promised links to download mobile versions of MetaTrader 5, contains nothing; only the header and footer remain. The same is true for the page describing the WebTrader. The link to download the desktop version of MT5 also does not work. In general, the broker seems to have not yet figured out which platforms they offer traders. At least, the market descriptions refer to MetaTrader 4 and their own DT-Pro platform. However, in the client portal, only links to MT5 are provided.
It’s very strange, but the company only accepts account deposits in cryptocurrencies (23 options). They also promise to make withdrawals in digital currencies.
In short, after studying the Tradiso website, any visitor will have more questions than answers. Perhaps the broker thinks this is a good way to attract new clients. We would refrain from continuing our acquaintance, let alone cooperating with a company that cannot even get its website in order.
Our Trading Experience With Tradiso
A visit to the client portal clarified at least something. Now we know that the company’s main trading platform is MetaTrader 5. This platform is well-known to all traders working in the Forex/CFD market and is also familiar to many clients of stockbrokers. At the very least, almost all users are aware of its advantages, disadvantages, and features of the desktop, mobile, and web versions. Therefore, there is no need for us to go into detailed descriptions.
Unfortunately, this cannot be said about Tradiso’s trading conditions. They are nowhere to be found in the main menu on the home page. Descriptions of account types only appear in the side menu, with each account type having its own page, which contains only the minimum useful information.
Tradiso offers three types of trading accounts:
- Standard, with no minimum deposit requirements. The leverage is 1:100, and there are no trading commissions.
- Pro, with a minimum deposit of $25,000. Its distinctive feature is ultra-narrow spreads that start from 0. Otherwise, the conditions are similar to those of the Standard account.
- ECN. There is no minimum deposit, spreads start from 0.1 pips, and a trading commission of $7.5 per lot is charged (the full commission is $15 per lot).
A separate page called Spreads, Commissions, and Swaps helps traders calculate their costs. The general page on trading accounts provides information on transaction volume limits: a minimum of 0.01 lots and a maximum of 1000 lots. However, other parameters, such as the distance for placing pending orders, margin call levels, stop-out levels, etc., were not found.
On the pages describing the account types, traders can read that trading is done on MetaTrader 4. As we have already discovered, this is not accurate; the working platform is MT5. It would be nice if the information on the website pages were up-to-date. Otherwise, none of the figures provided would be trustworthy — what if administrators missed important changes or simply forgot to update the texts?
The Reality Check
The creators of Tradiso provide all the necessary official information about the company. It includes a registration address in Saint Lucia, an office address in Bali (Indonesia), and an Indonesian phone number. Of course, we verified this information.
The registration information for the company in Saint Lucia has been fully confirmed. Tradiso Group Ltd holds the status of an International Business Company (IBC).
However, we know that the financial regulator of Saint Lucia does not issue licenses to brokerage companies. These powers are delegated to the Eastern Caribbean Central Bank (ECCB). However, Tradiso is not listed among the legal entities that have obtained licenses from this organization.
At the same time, the company has not gone through registration in Indonesia, and it does not have a license from the local financial regulator QJK.
Thus, the firm is officially registered, but it does not have a single license, even from offshore regulators. This means that it provides brokerage services illegally. However, it can legally receive quote streams from electronic trading system owners and use corporate accounts and cards. As a result, the company obtained a license for the software developed by MetaQuotes.
How Long Has Tradiso Been in the Game?
The broker did not mention the company’s founding date. Explaining this choice is quite difficult: establishing the start date of the company’s operation is easy using the whois service, and attempts to hide information do not help improve the reputation.
The registration date of the working domain tradiso.com is August 1, 2016. Snapshots from the web archive show that the broker started operating later, but its website was launched in 2021. This means that the company has been operating for at least 3.5 years without a license.
From our point of view, the previous versions of the website were better organized. Perhaps the project team has undergone some changes, and the new vision turned out to be somewhat unusual.
Extra Fraud Indicators
The company has been operating for over three years. During this time, quite a few Tradiso reviews have appeared online. For example, on Trustpilot, there are over a hundred reviews (specifically, 111). However, 110 of them are positive. A review of their content revealed that the majority of them were written on order and were most likely paid for by the project owners.
On thematic portals, the picture is completely different. Experts objectively assess the company’s situation. The platform’s rating on these sites does not exceed 1.5 out of 5. Regardless of how long it has been in operation or how interesting its conditions may seem, without a license, the project will not receive a high rating. This is natural because there can be no guarantee of honesty from a company providing brokerage services without a license, which means illegally.
Is Tradiso the Right Fit?
What can we conclude from our Tradiso review? We are dealing with a company that is registered offshore. It has not received a license to provide brokerage services and therefore, conducts such activities illegally. However, the company has a relatively long history and a good reputation, which is supported by numerous comments online. The problem is that most of these reviews are ordered and paid for by the broker itself. Experts on thematic sites rate the platform very poorly and do not recommend traders to engage with it.
When I saw Tradiso’s trading conditions, I felt real nostalgia. It’s been a while since brokers offered maximum leverage of 1:100. Out of curiosity, I deposited a small amount (just $100) and tried trading on a Standard account.
What can I say? The experience wasn’t great. Firstly, the quotes were clearly fake: where the company gets them from is unclear. Secondly, copy trading seems to feature only the broker’s proxies. Otherwise, it’s hard to explain why not a single trade closed in profit.
Customer support is slow; they took almost a week to verify my documents. Overall, I don’t recommend this broker to anyone.
I think Tradiso is a scam that’s not worth your attention! Out of curiosity, I deposited $250 here, but I only proved to myself that it’s better to avoid such obscure companies. Their terminal works however it wants, their quotes are completely nonsensical, ECN commissions are high, and support barely understands the questions.
In short, it’s a very shady broker. I didn’t even get to the withdrawal stage because with a terminal like that, you can’t make any profits.
I couldn’t withdraw money from Tradiso. I did manage to make some profit, but they won’t let me withdraw it. I even completed verification and paid all the additional fees the broker required.
The amount isn’t even that large, just $5,000, but the withdrawal won’t go through. Support won’t tell me anything… neither the reasons nor the prospects!! Has anyone else experienced this?
You’ll never make any money here. Tradiso’s leverage is too low, and you need a significant amount to make a decent profit. But I’ve read reviews stating that they don’t pay out large sums.
For instance, they delayed sending me even $600 for two weeks, and that was after requesting a week-long repeat verification process. All you’ll get here is a waste of time and nerves.