Tradeo Re-Launches as Social Trading Broker

In January, Forex Magnates posted that after securing additional funding, social trading operator Tradeo would be soon pivoting its business to become a stand along. Following a period of development and integration, the firm announced that it is now re-launching as a broker through a partnership with CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term licensed YouTradeFX. As a partner of YouTradeFX, Tradeo customer accounts will be onboarded and held with YouTradeFX, but using technology of the social trading provider. In addition to Tradeo’s social platform, users will also have access to trading via MetaTrader 4.

When operating as a cross-broker social Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, Tradeo was among the firms listed by MetaQuotes as illegally connecting to its platform. Speaking to Tradeo CEO, Jonathan Adest about the matter, he stated to Forex Magnates that they have been in contact, saying “We've notified them in the past on our planned pivot. As we now support only one MT4 server, they have no additional claims.”

Speaking about YouTradeFX, Adest mentioned that they provide a regulated partner to offer their brokerage services with. For YouTradeFX themselves, the CySEC entity is rather new, as they only received their license in the country in the summer of 2013. In the firm’s public statement, Adest commented that part of the rationale to the transition from a multi-broker offering to a single broker model was due to customer confusion, saying “Without doubt, the number one issue we heard again and again was the complexity of our registration funnels, as we weren't a broker. Users needed to open and fund an account with a recommended broker, then return to Tradeo to sync their account.”

The new venture is similar to the one launched by social trading network TradeCrowd in November, where they partnered with UK-based TradeNext to provide customer onboarding and regulation.