Tradeview is a CFD and forex broker, offering multiple assets trading with a choice of four platforms – cTrader, Currenex, MT4, and MT5. Its large selection of trading instruments ranges from cryptocurrencies to stock indices, CFDs based on individual stocks, exchange-traded funds (ETFs), and futures.
In addition, commodities, you can also trade for precious metals and a large number of currency pairs at Tradeview.
Being a large number of available trading instruments is what makes TradeView stand out, and a good choice for traders who want to invest in a variety of markets.
Review
This forex broker is located in the Cayman Islands, regulated by the Cayman Island Monetary Authority (CIMA); you can be a TradeView client no matter where you are from except the USA and some other countries where the trading of CFDs is against the local laws.
Tradeview Forex broker offers these assets for trading;
- 60+ major and minor world currencies pairs
- 9 Indices CFDs of different blue-chip stocks.
- 3 Metal CFDs – Gold and Silver.
- 500+ ETF CFDs – exchange-traded funds containing certain tradable assets.
- 5 Crypto Pairs – Bitcoin, Ethereum, Litecoin, Ripple.
- 3 Energy CFDs – Crude Oil (WTI and Brent), and Natural Gas.
- 100+ different government securities and corporate bonds.
- 5000+ Stock CFDs – shares of US, AU, CA, UK, EU, and some Asian companies.
Most of the Bonds, Stocks, and ETFs are available at Rhino Trader and Sterling Trader platforms.
Pros of Tradeview Forex
- Multiple trading platforms
- Social trading – via myfxbook, MetaTrader, cTrader copy, and other platforms.
- MAM accounts are available
- Traders’ room, trading forum, and signals available
- Rhino report, drawdown controller, and other tools are given.
Cons of Tradeview Forex
- Offshore regulation
- Limited trader education
- High withdrawal fees, if opt for the bank transfer
Is a broker a scam?
TradeView Forex broker is a Non-Regulated broker, this could raise concerns over the safety aspects of this broker.
While reviewing Tradeview, we checked that the forex broker is owned and operated by Tradeview Ltd, which is a fully registered dealer regulated under the regulations of the Cayman Island Monetary Authority (CIMA).
All the accounts at Tradeview are maintained with only Tier1 global banks and they all are segregated from Tradeview company accounts. There are strict rules that are followed to maintain this policy. Regular internal and external audits are also carried out to ensure full compliance.
The segregated funds will return to the clients only if the broker got insolvent; they would never use the funds to pay off any debts.
All the Tradeview servers are secured with modern security technologies and are automatically backed up to secure clients’ data and trade orders. Add to that, Tradeview follows a set of automatic risk management procedures to avoid clients’ account balances going negative. The technology deployed tracks all margin levels, client positions, and trades – all in real-time.
Being an offshore-registered company, though licensed, traders feel unsafe before trading. Generally, forex brokers go for the Cayman Islands license because it is quite cheap – USD 27,000 capital requirement, especially when compared to UK’s FCA capital requirement for STP license, which is around 125,000 EUR.
Registration and authorization – from Sign up to Account Deletion
To register at Tradeview, visit the broker website. Click on ‘Live account’ → select the desired account type (individual, corporate, or joint); then, you will see the account opening form.
For an individual account, you will be asked to fill in your name, postal address, and a couple of personal details. Next, you will be asked to provide banking information, employment information, total assets, trading experience, and declaration of source of income/wealth.
Once done with the information, you will need to upload verification documents and other details, and then, click the ‘submit’ button to complete the registration process.
Your information will be reviewed and verified shortly, and if deemed suitable, you will be approved by the Tradeview support team. Once approved, you can start trading online after making deposits.
Demo account
As mentioned, the major account types that Tradeview offers are Individual, corporate, and Joint accounts; there are forex accounts as well such as X Leverage account and Innovative Liquidity Connector account.
As far as Demo accounts are concerned, they are freely available on all platforms. While creating the demo account, you can decide the leverage and the virtual funds, as much as you can play or learn with. Leverage can go up to 1:400 and virtual funds up to $1 million on demo accounts.
Fees and commission
Tradeview charges their clients a $5 round turn per lot traded, whereas the brokers’ fees are concerned, they are variable and get changed often, there are some additional fees as well that Tradeview charges overtime.
It is imperative to ensure that you have read and understood all of the latest information before opening up a broker account for online trading.
Deposit and Withdrawal
Tradeview does not charge any deposit or withdrawal commissions, and yes, the broker also does neither accept cash payments nor deposits from the third parties. The deposits can only be possible via bank transfers, cards, or any other e-Payment solution/s.
Tradeview access following payment methods;
- Bank Wire: Tradeview accepts payments from a number of banks including Interbank, Banco Pichincha, Banregio, Scotiabank, etc., in different currencies. It takes approx. 1-2 business days to complete a bank transfer deposit. The Withdrawal fees will be $35.
- Credit/Debit cards: Deposits process within the same day. To process payment via cards, you will be required to upload a selfie with the card to prove your card ownership. With this payment option, withdrawals take more time for processing – up to 10 working days.
- Online payments: The methods are Skrill, ecoPayz, Bitwallet, Neteller, Bitpay, help2pay, Sticpay, TransferMate, FasaPay, advcash, and payretailers. Both deposits and withdrawals are processed within 24 hours without any commissions.
How to Contact Tradeview
The Tradeview customer service offers a help desk, which is available 24/5 on the instant chat.
To contact Tradeview, you can also fill the contact us’ form, which will be answered by their support team by email. Support can also be received by emails and telephone, even on social media – Facebook, Twitter, LinkedIn, and Instagram, Tradeview have a quick-response presence.
Conclusion
Tradeview has been a forex broker for a long time, like from 2004, and has been expanding its trading services and platforms across the world. The broker provides a safe trading environment regulated by CIMA regulations that mandate the clients fund safety and constantly monitor and maintain the trading platform.
The generous broker offers four cutting edge platforms – cTrader, Currenex, MT4, and MT5 – that’s what makes Tradeview best among some of the competition.
The trading fees at Tradeview are competitive whilst offering an abundance of different tools to assist traders. The broker also provides ‘Rhino reporting,’ economic calendar,’ Pivot points calculator,’ and ‘tradegatehub.com’ to facilitate the community of traders and experts.
Clients at Tradeview learn and trade together with all the given resources, signals, and tools that are readily available.
CIMA regulation is good but not enough, the broker should get other regulations too, like CySEC, FCA, ASIC, etc; this is the reason why many expert traders and institutional clients are not confident with trading with this offshore regulated broker.
Even financial market analysts and experts do warn traders to stay away from such regulators.
When trading in CFDs and foreign currencies, there are risks too, and that’s why they are not suitable for every trader, so be careful whether trading CFDs is appropriate based on your trading objectives, experience, and financial resources.
