Selecting a suitable platform can be a challenging task due to the multitude of options available. The financial markets offer a wide array of choices, each boasting unique features and advantages. Amidst this landscape, Traddoo has gained prominence with an array of offerings. This review will guide you through the Traddoo platform, dissecting its distinct features, highlighting its differentiators from other proprietary firms, and elucidating the benefits it extends to traders. Whether you are an experienced trader seeking fresh opportunities or a newcomer, this Traddoo review aims to provide valuable insights to empower informed decision-making in your trading endeavors.
Traddoo Review
Traddoo has established a presence in the trading landscape and formed a partnership with TradeLocker and OspreyFx as brokers, offering favourable trading conditions. Clients gain access to the MT4 and MT5 platforms, a selection of over 100 financial instruments, and leverage of up to 1:30 through this collaboration. While there are some limitations, such as trading restrictions and geographic service limitations, Traddoo compensates with advantages such as regular trading competitions with cash prizes and a partnership program that provides a 15% commission on initial deposits from referrals. These competitions provide traders with opportunities to compete for prizes by aiming to secure a position among the top 10 participants, which qualifies them for rewards and serves as an incentive for their performance during the competition. Additionally, these competitions offer traders a platform to showcase their skills and refine their trading abilities.
How Traddoo Differs from Other Proprietary Firms?
The Traddoo prop firm offers two account types: the 1-phase challenge and the 2-phase challenge, with a minimum deposit requirement of $99. The profit-sharing arrangement varies, with options of 80/20 or 75/25 depending on the selected account type and balance. Traddoo maintains daily drawdown limits ranging from 5% to 8%, with a reasonable cap of 4% for the daily limit, aligning with industry standards. Advantages include a competitive profit split of 75% to 80%, leverage of up to 1:30 for currency pairs, and a diverse range of withdrawal methods. With over 100 financial instruments available, Traddoo enables traders to build diversified portfolios. The firm also offers a referral program with above-average commission payments. Traddoo also provides the option to remove certain restrictions for an additional fee, although this may not always be suitable. Additionally, Traddoo provides a scaling plan for traders who consistently demonstrate profitability, allowing them to scale their trading accounts up to $1,000,000. This plan empowers traders to grow their capital and earnings significantly.
What Are the Advantages of Joining Traddoo?
- Traders Competition: Traddoo plans to introduce a ranking system that rewards active and successful traders with unique bonuses and cash prizes. The longer a trader maintains their top position, the greater their bonuses become.
- Instant Pay-outs: Traddoo's Funding Program provides traders with instant payouts, occurring every 14 days on alternate Fridays. This rapid payout schedule allows traders to access their earnings promptly, enhancing financial stability.
- Leaderboard: Traddoo intends to introduce a leaderboard displaying the top 10 traders in a separate rating. This feature provides insights into their recent trades, win rates, portfolio compositions, and more.
- No Time Limit: Traddoo does not impose minimum or maximum trading day requirements, allowing traders to engage in trading at their own pace without time constraints.
- Abundant Asset Selection: Traddoo offers over 100 assets across six distinct groups, granting traders access to leverage of up to 1:30 with minimal restrictions, allowing them to operate under conditions that suit their objectives.
Trading Platform and Broker Partnership
Traddoo traders use MetaTrader 4 and MetaTrader 5 platforms, providing access to a diverse selection of over 100 assets, including currencies, cryptocurrencies, stocks, indices, metals, and CFDs. Traddoo has partnered with TradeLocker and OspreyFx, offering trading accounts with no trading fees, where traders pay only the broker's fees.
Trading Instruments
Traddoo offers a wide range of trading instruments across various asset classes, allowing traders to explore profitable opportunities. Real-time updates ensure traders have access to the most current information. Here is a list of examples:
- Forex: Including popular pairs like EUR/USD, AUD/USD, GBP/USD, and CHF/GBP.
- Cryptocurrencies: Encompassing well-known digital assets such as Bitcoin, Ethereum, Cardano, and Litecoin.
- Energies: Comprising commodities like Natural Gas, UK Oil, and US Oil.
- Metals: Featuring precious metals such as Copper, Silver, Gold, and Platinum.
- Indices: Covering major indices like DAX, SPX500, NAS100, and JPN225.
Leverage and Trading Conditions
Traddoo offers leverage up to 1:30, varying by the specific asset traded. Traders can employ various strategies like news trading, scalping, hedging, and advisor usage. However, weekend trading is not available. The maximum leverage of 1:30 applies to Forex, Metals, Indices, Commodities, and Cryptocurrencies. Responsible use of leverage is encouraged, taking into account associated risks.
Traddoo's trading conditions cater to a broad range of traders, with initial fees based on the chosen account type and balance. Traddoo offers 1-phase and 2-phase challenge accounts with balances from $10,000 to $100,000. For instance, the initial fee for a $10,000 balance is $99, while a $400,000 balance requires a $499 deposit.
Traddoo Referral Program
Traddoo offers a referral program where partners can earn rewards by referring new users to the platform. Each partner receives an exclusive referral link to share through forums, instant messengers, or email. When a user registers on Traddoo's website, they become a referral owner. It's important to note that the first ten referrals do not yield rewards for the owner, but subsequent referrals result in a 15% bonus based on the referral's deposit amount. There are no limits on the number of referrals a partner can acquire.
Traddoo's partnership program includes two advanced options. Firstly, the quarterly bonus feature categorizes traders into groups upon registration. Every three months, selected traders have the opportunity to receive 10% of the partner income generated by their respective group. Secondly, active traders who bring in numerous referrals to the platform can earn free accounts, eliminating the need for initial fees. The more referrals traders invite, the higher-value accounts they can attain, leading to increased available balances.
Customer Support
Traddoo recognizes the importance of providing robust customer support to assist traders in navigating various situations and facilitating seamless withdrawals. The platform ensures that its support team remains accessible 24/7, with specialists available every day, including weekends and even during night-time hours. Traddoo offers multiple communication channels for user convenience, including email, live chat, and a Discord channel. For any inquiries or assistance, users can reach out to the support team via email at support@traddoo.com.
Summary
Traddoo offers a platform that includes popular trading software, a diverse array of instruments, and adaptable trading conditions. It's important to be aware of certain limitations, such as trading restrictions and geographic service constraints. However, Traddoo compensates for these limitations with appealing benefits, including frequent trading competitions and a profitable referral program. Traddoo's dedication to supporting trader success and delivering strong customer support establishes its presence in the online trading industry.
Related Articles:
FundedNext Review: A Deep Dive into the Platform
TradingView Review: Analysing Features and Functionalities
MyFundedFx Review: A Detailed Analysis
