Traderia is a Forex broker that caught our attention for one reason, it’s completely identical to another trader that we reviewed, named GoldenCFD. Since we discovered that GoldenCFD is a scam broker, we wanted to make sure about Traderia. To see whether it only looks identical or they have the same way of doing business.
The most obvious thing is website design. It looks flawless, just like it contains every necessary detail. Well, things look one way at the first glance, and they turn out to be completely different once you spend some time inspecting. For example, this website is full of grammatical errors that don’t show professionalism. So, that’s a first red flag and we are going to take it seriously.
Quality of Service
Service quality includes a lot of things. From the trading platform to education and account types. All of that combined gives us a better picture of how one broker does its business. This time, the trading platform is a well-known Meta Trader. Although we have nothing against it, it’s not a unique solution and it doesn’t show that a broker pays a lot of attention to innovative technology ideas. So, we cannot give them ten points for creativity, but we can tell they chose a platform that’s one of the best.
There is an option to download the platform on the computer or mobile phone, so you can trade from every place. That’s an excellent option and this is the first plus we are going to give to Traderia since this satisfies most of our expectations.
The next thing we wanted to talk about is account types. At the first glance, they look perfect, but we already made this mistake with GoldenCFD, so we won’t have high expectations this time. There is a free version, Demo Account, that will allow you to practice for a little bit before you deposit money. If you don’t have experience, we recommend you open a Demo Account first, just to familiarize yourself with the platform before your trading journey begins.
If, on the other hand, you don’t want to practice and you want to deposit instantly, there are four options to choose from. The first account is Classic, and you have to deposit at least $1,000. In return, you will have Daily Briefing & Research, Desktop & Mobile Trader and Video Tutorials. The next account is Gold, and the minimum deposit requirement is $10,000. Within the Gold one, you will get everything that we mentioned in the Classic one, but you will also have Competitive spreads, Webinars and Seminars.
The third account is Platinum, which has a requirement of $25,000. As a Platinum member, you will have General Account Manager, SMS News & Signals. The last option is VIP. Since this is the highest account, you have to deposit at least $100,000. It will give you the best trading conditions such as Premium Daily Analysis and Premium Customer Care.
As you can see, the selection is decent. Four different account types are more than enough, but are we satisfied? No. The thing is, those minimum deposit requirements are very high if we have in mind the conditions you get. For example, the Classic account offers desktop and mobile trading platforms. But that’s the most normal thing. Once you deposit money, you start trading and you need a trading platform for that. So, this is just a list of the most normal things that are not a special offer.
As another example, we will take the Platinum account that allows you to have an account manager, news and signals. Keep in mind that other brokers will provide you with an account manager for every deposit, not just the highest one. Overall, account selection is good, but trading conditions are terrible. You have to deposit a lot and you will receive very little. Not to mention premium customer care, which is reserved for VIP clients only. As a client, you deserve to have constant support, no matter the account.
The third part of service quality in education. Here, things are the same as the account types. Everything looks perfect, but in reality, you get nothing. In the main menu, you will see the Academy tab. It contains trading tools (economic calendar, forex calculator and real-time chart). This is helpful, but it’s not enough at all. Other parts of the Academy are about Forex in general and CFDs, but those are just two articles that talk about Forex. Even if you are a beginner, you already know that, so there is no use in those articles.
Aside from that, there is only one eBook that is actually a guide to online Forex trading. It’s neatly done, but don’t expect to learn a lot from it. The only good thing about education is Video lessons. There are a few of them, all are concise, and you can watch them from episode one to episode 19. So, if you are eager to learn new things, we recommend you go straight to video lessons, since nothing else will give you the knowledge you deserve.
Overall, our impressions of service quality are not that good. Aside from good platforms and decent video lessons, there aren’t many things that can make Traderia stand out from the crowd. In fact, this broker offers terrible trading conditions that’s why we wouldn’t recommend anyone to open an account here. Instead, you can find other places that will provide you with better opportunities and respect you more as a client.
Speed of Response
Traderia made a contact centre where you can fill in the online form, find an email and send it or call the phone line. Selection is good, especially if we consider Live Chat that is included on the website. But there is one problem, once again this broker made the website so good that you actually believe everything works flawlessly. Reality is a bit different, though.
We sent a message via Live Chat and waited for hours. But nothing happened. Basically, that chat is created just to look nice and appealing, it’s not functional at all. This means that if something goes wrong, you cannot count on assistance. Instead, you can try to solve the problem on your own, which is never a good idea.
As you can tell, we are very disappointed with the service and customer support. It’s not responsive at all and we cannot understand why anyone would deposit money when there is nobody to help you on your trading journey.
As expected, deposits are instant. As soon as you hit the button, money will be on your account and you can begin with trading. Things are different with withdrawals, though. First of all, you have to prepare documentation to avoid delays. So, find out everything this broker requires and prepare that in advance. After that, you can request a withdrawal.
If you send a request after working hours (from 9 AM to 4 PM – Monday to Thursday and 9 AM to 1 PM on Friday), it will be processed the next day. But here comes the worst part, nobody told how long you have to wait. This means that withdrawals can last for months and there is nothing you could do about it. That’s why you would read everything very carefully before you open an account.
There isn’t a lot of information about commissions on the website, which means this broker can charge you some fees unexpectedly. What we know is that a Credit and Debit card fee is 3.5%, while the Wire Transfer fee is $30 (25 EUR or 20 GBP).
Keep in mind that once a broker doesn’t write the whole list on the website, there are huge chances you will run into some hidden fees and we doubt there is anyone who would like to pay them.
Well, certainly, Traderia doesn’t have a license. There are times when we can omit the fact that regulation is missing, but this time no. Since this broker looks more like a scam than a regular one, regulation plays a big part.
Variety of Payment Options
Trderia accepts Credit Cards, Wire Transfer and Skrill. This is not such a big selection, but we won’t complain, after all, this might be the best part about this broker. There is a minimum deposit based on a method you choose, so if you go with Credit Cards each time you add a deposit you have to do 250 EUR/USD/GBP or more (the same thing is for Skrill), while the Wire Transfer requires at least 500 EUR/USD/GBP.
After the whole Traderia review, the only thing we can say is that we highly recommend you skip this broker. There is nothing that can be beneficial to clients and it’s most likely that you are going to lose all your money instead of making a profit.