WARNING! TradeApp is a scam – Really?

Online brokers are numerous, and choosing the right one can be difficult, especially for non-professionals who may find many platforms complicated and hard to use. TradeApp was created to make online trading accessible to everyone.

TradeApp is designed to compete with major trading platforms but aims to stand out with its simple, intuitive interface and low costs, allowing anyone to start a trading career with less than 30 euros!

This guide explains all aspects of this broker, highlighting the features that set it apart and carefully evaluating its strengths and weaknesses.

What is TradeApp?

TradeApp is a brand of Depaho Ltd, a Cyprus Investment Firm (CIF) registered and authorized by the Cyprus Securities and Exchange Commission (CySEC).

CySEC, along with the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC), is one of the top three financial regulators worldwide, overseeing the safest forex and CFD brokers in the market.

The leadership of CySEC, FCA, and ASIC stems from offering brokers enough operational flexibility to run their businesses while requiring compliance with rules like separating traders’ accounts from the broker’s.

This way, even if a broker were to go bankrupt, investors’ funds would remain protected.

TradeApp Guarantees

CySEC-registered brokers are required to maintain a minimum operating capital of €730,000, provide clients with negative balance protection, submit periodic reports, allow external audits, and secure trading capital by participating in an investor compensation fund.

Thus, even in the unlikely event of broker insolvency, up to €20,000 of deposited funds will be guaranteed.

How TradeApp Works

TradeApp offers commission-free trading. In an era where most online brokers provide commission-free trading, what sets TradeApp apart?

Beyond commission-free trading, TradeApp’s biggest advantage is its exceptionally low minimum deposit requirement. More on this later.

TradeApp is innovative and designed specifically for mobile use. It’s not a traditional website adapted for smartphones but an app created with mobile trading in mind.

The app enables trade marking and provides calculations and statistics for your gains and percentages.

This makes TradeApp highly engaging and practical.

Trading Tools on TradeApp

TradeApp allows trading in 32 forex pairs, including minor and exotic currencies like USD/ZAR and USD/MXN. It also offers various CFDs on commodities such as oil, natural gas, coffee, copper, corn, cotton, soybeans, sugar, and wheat; metals like aluminum, zinc, tin, gold, silver, platinum, and palladium; stocks, 18 indices, 2 ETFs, and several cryptocurrencies including Bitcoin, Ethereum, Ripple, Litecoin, Monero, and Dash.

This provides an incredible variety of markets and trading instruments right on your smartphone.

One drawback is the lack of alternative platforms like MetaTrader 4, which many traders are accustomed to. MetaTrader 4 is outdated but still preferred by many experienced investors.

If you’re used to MetaTrader, you’ll need to adapt to TradeApp’s modern trading software. However, if you’re new to MetaTrader, you’ll find TradeApp’s platform very user-friendly and efficient.

Start Trading with Only €29

As mentioned earlier, you can open an account with TradeApp for just €29, a significant advantage compared to the industry average, which usually requires a minimum deposit of at least €250.

This low entry point allows novice traders to invest in stocks like Amazon, Apple, Google, and Facebook with a minimal investment, learning trading strategies without risking large sums.

Autochartist

TradeApp also offers effective technical support through Autochartist, a software that automatically provides technical analysis information.

Autochartist continuously scans the markets, identifying trading setups based on support and resistance levels from its analyses.

Features of Autochartist include:

• Automated technical analysis of charts, price forecasts, support and resistance levels, and more.
• Probability filters that highlight significant market events and past patterns.
• Volatility analysis to help traders set appropriate exit levels.
• Daily market reports with important updates on market changes.

Autochartist helps traders focus on trading by eliminating market noise and highlighting the most critical data and technical indicators.

TradeApp Client Plans

In addition to the Explorer plan starting at €29, TradeApp offers five plans with discounts based on the deposited amount:

• Starter Plan: Deposit €250 to €1,000, with a 10% discount on spreads and rollover.
• Silver Plan: Deposit €1,000 to €2,000, with a 15% discount on spreads and rollover.
• Gold Plan: Deposit €2,000 to €5,000, with a 25% discount on spreads and rollover.
• Gold Plus Plan: Deposit €5,000 to €10,000, with a 35% discount on spreads and rollover.
• Ninja Plan: Deposit over €10,000, with a 45% discount on spreads and rollover.

TradeApp Commissions and Spreads

TradeApp charges no trading commissions, making even small trades viable. The spreads are very low, minimizing their impact on trading activity. Examples of spreads and commissions include:

• Forex: EUR/USD spread of 0.0003 points, Leverage 1:30, Margin 3.33%
• Commodities: Gold spread of 1 point, Leverage 1:20, Margin 5%
• Stocks: Apple spread of 0.9 points, Leverage 1:10, Margin 20%
• Indices: Dow Jones spread of 35 points, Leverage 1:20, Margin 5%
• Cryptocurrencies: Bitcoin spread of 2.5%, Leverage 1:10, Margin 50%

For more details on costs, visit TradeApp’s website.

Are My Funds Safe?

Yes, TradeApp is regulated by CySEC, offering deposit guarantees similar to traditional banks. Deposits are protected up to €20,000 by a guarantee fund and are kept separate from the broker’s funds for added security.

Is TradeApp a Scam?

Absolutely not! TradeApp is a licensed broker with legal authorization to operate in Italy and many other countries. Regulated brokers like TradeApp offer all the protections mandated by Italian and European regulations. However, trading online is inherently risky but not a scam.

Alternatives to TradeApp

While many brokers offer various trading platforms, none are specifically designed for smartphones like TradeApp. Most alternatives are adaptations of PC-based software and may not offer the same mobile trading experience.

TradeApp also provides a PC platform, but it is primarily designed for mobile use, enabling trading anywhere with a feature-rich software.

TradeApp Reviews

Reviews of TradeApp are positive. Users appreciate the broker’s low minimum deposit, dynamic platform, and effective customer support. For instance, a review from a popular site mentions:

“I signed up for the low minimum deposit and found I could start with just €0.10 per trade. I especially liked the ‘dynamic’ platform that adjusts to my trading skills. The customer support hasn’t been tested yet, but I withdrew €500, which arrived in a few hours on PayPal. Overall, I’m satisfied and rate it 5 stars!”

Conclusion

TradeApp is a regulated CySEC broker, safe and reliable, offering a competitive selection of trading tools with a low account opening requirement of just €29. Its modern platform and engaging features make it an excellent choice for beginner traders. With Autochartist providing real-time trading opportunities, TradeApp is ideal for anyone looking to trade simply and effectively from their smartphone.