Company Profile
General Information
Established in 2021, TRADON is an offshore forex broker registered in Saint Vincent and the Grenadines, offering its clients diversified trading instruments, three trading accounts to choose from, with leverage up to 1:300.
According to this brokers official website, TRADON is operated by a company named Ingenue Consulting LLC with registration number: 1360 LLC 2021. All cards transactions are professed by Ingenue Consulting LLC with registered address at First Floor, First St Vincent Bank Ltd Building, James Street Kingstown, St.Vincent and the Grenadines.
As far as we can tell, TRADON is not governed by any regulatory authorities, thus that bit of data is settled. As a result, its regulatory status on WikiFX is classified as “No License” and it only manages a score of 1.15 out of 10 overall. Don't be oblivious to the potential danger. For more detailed customer reviews, please visit the WikiFX website.
Market Instruments
With TRADON, a total of four classes of trading assets are available, which include currency pairs, stocks and indices, as well as commodities.
Account Types
There are three trading accounts available with the TRADON platform, namely the Cent account, the Pro Trader account and the Prime account. To open a Cent account, investors need to fund at least € 250 into the account, and the Pro Trader and the Prime accounts require a minimum initial deposit of € 2,500, and € 25,000, respectively, quite high amounts.
Some basic account services shared with all three trading accounts include the following:
Real-time data
Financial market news
Detailed technical analysis
Stop-loss/take profits
Multi-currency for funding account
Fundamental package of support
Different levels of welcome bonus are offered along with accounts, with the Cent account up to 20%, the Pro Trader account up to 25%, and the Prime account up to 30%.
Leverage
Trading leverage differs depending on trading accounts accordingly, ranging from 1:100 to 1:300. The maximum trading leverage up to 1:300 obviously violate most regulatory authorities restriction on leverage, 1:30 for major forex pairs in EU, Australia, 1:50 for forex trading in the US and Canada, to protect retail traders.
Spreads & Commissions
Spread and commissions are determined by trading platform. TRADON boasts a commission-free trading platform, with spreads varying among accounts. Strangely, per its account layout, account with less capital injected offers more competitive spreads, which is contradictory to most forex brokers account setting. With the Cent, investors can get minimum spread of 0.0 pips, while other two account, the Pro Trader and the Prime accounts with much higher deposit requirements, offer spreads from 1.0 pips and 1.3 pips.
Trading Platform
TRADON offers its clients a Webtrader instead of more popular and widely used MT4 or MT5 trading platform. TRADON says its trading platform include range of tools, indicators, analysis, charts to help traders make good decision.
Deposit & Withdrawal
The minimum deposit amount to invest with TRADON is € 250, and payment methods supported by this broker include the following:
VIS
MasterCard
Maestro
Wire Transfer
However, further details on this part, including deposit and withdrawal fees, processing time, and the minimum withdrawal amount, are not disclosed.
Trading Tools
Additionally, TRADON does offers some basic trading tools to help trader, which include Analysis, Strategies, Economic Calendar, News and Events.
Customer Support
According to TRADON's website, TRADON provides the following contacting emails for various types of inquiries:
Technical Support: it@tradon.io
Leave an Appointment: support@tradon.io
E-mail: documents@tradon.io
However, some other more direct contact methods like phone call, online communication are not available.
Risk Warning
There is a considerable degree of risk involved with online trading of leveraged Forex and CFD instruments, and as a result, it may not be appropriate for all investors.
Please keep in mind that the data presented in this article is meant to serve as a guideline only.
