TaoTrade Review

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Review sections

• Investor Protection & Regulations
• Tradable Products
• Account Opening
• Deposit & Withdrawals options
• Web & Desktop Trading Platforms
• Mobile Trading Platforms
• Trading Features
• Commissions & Spreads
• Bonus & Promotions
• Customer Support
• Research
• Trader Education
• Trading Experience
• FAQ
• Conclusion

TaoTrade Video Review

Investor Protection & Regulations

“TaoTrade is a brand name of VIE FINANCE A.E.P.E.Y.S.A which is authorised and regulated by Greece’s financial regulator, the Hellenic Capital Markets Commission (HCMC).”

TaoTrade is a brand name of VIE FINANCE A.E.P.E.Y.S.A which is authorised and regulated by Greece’s financial regulator, the Hellenic Capital Markets Commission (HCMC), as confirmed below on the regulator’s website:

Through VIE FINANCE A.E.P.E.Y.S.A’s HCMC regulation, the company provides additional protection by being a member of the Guarantee Fund. This covers investor claims and compensation arising from any issues with the company’s investment services. This is shown in the broker’s Service Agreement document online.

Tradable Products

“TaoTrade offers users the ability to trade on 200+ CFD financial instruments Currencies, Stocks, Indices, Commodities, Crypto and ETFs.”

TaoTrade offers users the ability to trade on a wide range of financial instruments covering Currencies, Stocks, Indices, Commodities, Crypto and ETFs.

Below is a list of just some of the available markets for trading:

* Details regarding the available assets are taken from the TaoTrade website and trading platform and are correct at the time of this review.

Trading costs such as spreads and overnight funding (swap) rates vary depending on the instrument being traded and account type opened and are covered further down this review.

Account Opening

“TaoTrade offers nine different types of retail trading accounts called Basic, Discovery, Silver, Gold, Diamond, VIP, Prestige, Superior and Infinity. The broker does not have Islamic swap-free accounts but does offer Professional Accounts.”

TaoTrade offers nine different types of retail trading accounts which includes:

Users can open a Basic Account with just $200 with the highest price and rollover discounts for the higher deposit accounts such as the Infinity account. For example, the Prestige Account offers 30% discounts, the Superior Account 35% discounts and the Infinity Account 40% discounts.

The broker also offers access to a Professional Account with access to higher leverage. However, users can only be categorised as Professional if they meet ESMA requirements which are listed on the broker’s website and shown below:

To open an account users simply need to click the Login and New Users button on the broker’s homepage which will redirect to a sign-up form, as shown below:

Users are then taken to the TaoTrade PROfit web platform, as shown below:

To use the full features of the account, users will need to go through a registration page as shown below:

This includes adding in personal and financial information as well as uploading documents for proof of identity and proof of address.

The broker does not accept clients from Iran, DR Korea and other countries.

Deposit & Withdrawals options

“TaoTrade offers users the ability to deposit and withdraw funds via credit and debit cards, wire transfer and Skrill.”

TaoTrade offers users the ability to deposit and withdraw via debit and credit cards, bank wire transfer and Skrill.

To make a withdrawal user can login in the PROfit platform and access the Withdrawal Page, as shown below:

Withdrawals are processed within one working day.

Web & Desktop Trading Platforms

“TaoTrade offers users the ability to trade on the browser-based PROfit trading platform.”

TaoTrade offers users the ability to trade on the browser-based PROfit trading platform. The platform includes daily market updates, in-platform support, analysis and alerts and many other features.

Below is a screenshot of the PROfit trading platform which is covered in more detail in the video review:

Mobile Trading Platforms

“TaoTrade offers users the ability to trade on the PROfit mobile trading app for Android and iOS.”

TaoTrade offers users the ability to trade on the PROfit mobile trading app for Android and iOS users. These can be downloaded directly from the Apple App Store or Google Playstore. Download links are also provided on the broker’s website.

The PROfit mobile trading app allows for ‘on-the-go’ trading with access to a wide variety trading tools such as quick trade execution, real-time market news and more.

The PROfit mobile trading app for TaoTrade is covered in more detail in the video review.

Trading Features

“TaoTrade offers users the ability to access a variety of different trading features such as the Autochartist technical analysis tool, and loss protection from a user’s first five or eight trades subject to terms and conditions.”

TaoTrade offers traders the ability to access the Autochartist technical analysis tool. This allows users to gain real-time technical analysis in the form of chart patterns and support and resistance levels. This can be accessed directly from the PROfit trading platform, as shown below:

The broker also provides loss protection from a user’s first five or eight trades subject to terms and conditions, as shown in the online First Protected Positions Terms and Conditions PDF, shown below:

Commissions & Spreads

“TaoTrade offers commission-free trading with just spreads and swaps payable. Different account types offer different discounts on price and swap fees.”

TaoTrade offers commission-free trading with just spreads and swaps payable. This is confirmed in the broker’s online Service Agreement, as shown below:

Financing fees, administrative fees and spread costs are detailed in the brokers Product Sheets & Costs web page, as shown below. This includes a 0.015% overnight financing fee for most markets and an inactivity fee of USD 500 if there has been no trading activity for three months.

The broker also provides spread information on the same webpage of which a sample is shown below:

Forex Trading

Commodity Trading

Indices Trading

Stock Trading

Bonus & Promotions

“Due to restrictions set by the regulative body, TaoTrade does not offer bonus or promotional schemes.”

At the time of writing, there are no bonus or promotional offerings advertised on the broker’s website.

Customer Support

“TaoTrade offers 24/5 technical support. Customer service can be contacted via Web Chat, Telephone, Email, WhatsApp Messenger and through an Online Contact Form.’’

The Web Chat icon is centrally featured on each page. Enter your name, email address and query, to submit your to the customer service team.

When calling the listed number and messaging the broker on WhatsApp, we were greeted with an automated message in Italian and were not able to connect to an English speaking Service Agent.

By clicking on the ‘Contact Us’ menu tab in the ‘About Us’ section, the visitor can access other options to contact the broker. The ‘Contact us’ page lists 5 main options: Telephone, Email, Web Chat, WhatsApp Messenger and an Online Contact Form, as shown below:

The broker is available from Monday to Friday from 8.00 to 20.00 GMT+2 and offers further 24/5 hour technical support.

Contact Information:

• Address: 4, 28th October Street, Marousi, Greece.
• Email: customer.service@taotrade.com
• Phone: + 39 068 3464810
• Live WhatsApp Support : +306936123246

Research

“TaoTrade offers a useful economic calendar, providing insights into key market events, scheduled earning reports and data publications. Users can also access Autochartist trading ideas and Traders Trends tool in the PROfit platform’’

The ToaTrade website features an easy-to-use economic calendar, offering traders insight into key market events at a glance. The calendar lists important upcoming economic events, which region or asset class they affect, the estimated impact and historical data. Data can be filtered on date, region, event type and importance.

Users can also access research tools in the PROfit platform such as Autochartist trading ideas and the Trading Insider Traders Trends tool, as shown below.

Trader Education

“TaoTrade offers limited Educational Materials. The ‘Academy’ section of the website includes a comprehensive Glossary and a concise description of the use and importance of trading charts and an overview of the History of The Forex Market.’’

The TaoTrade website hosts an ‘Academy’ section which includes a Glossary and basic information about trading charts and the history of the Forex market.

The Glossary features short, comprehensive descriptions of key market and trading terms and is easy to navigate. Users can also access trading education videos in the PROfit platform but these do need to be unlocked by your account manager.

Trading Experience

“TaoTrade provides a simple and transparent trading offering to trade on a variety of different markets on a commission-free basis with just spreads and swaps payable on a trade. Users can trade on the simple to use browser-based trading platform PROfit with access to additional trading tools such as AutoChartist and Traders Trends.”

From our observations, TaoTrade provides a simple and transparent trading offering to trade commission-free on a variety of markets covering financial CFD instruments in Currencies, Indices, Commodities, Stocks, Crypto and ETFs.

Users can trade on the simple to use browser-based trading platform PROfit, as well as on mobile. The broker also provides access to additional trading tools such as AutoChartist, a live economic calendar and the Trader Trends indicator directly from the platform.

TaoTrade also provides loss protection for the first few trades subject to terms and conditions making it most suitable for beginner traders.

FAQ

Is TaoTrade regulated?

Yes, by the Hellenic Capital Markets Commission (HCMC) of Greece.

Where is TaoTrade based?

TaoTrade is based at 4, 28th October Street, Marousi, Greece.

How does TaoTrade make money?

TaoTrade makes money mainly through spreads and swaps on certain tradable asset classes.

How do I deposit in TaoTrade account?

Funds can be deposited into a trading account via credit and debit cards, bank wire transfer and Skrill.

What is the min. deposit for TaoTrade?

The minimum deposit is 200 USD.

How do I withdraw money from TaoTrade?

Withdrawals can be made from TaoTrade via credit and debit cards, bank wire transfer and Skrill.

What is the max leverage in TaoTrade?

The maximum leverage offered by TaoTrade is 1:200.

How do I open an account with TaoTrade?

An account can be opened at the click of a button on the TaoTrade website and can be done in just a few steps.

Does TaoTrade use MetaTrader?

No.

Conclusion

“TaoTrade offers users the ability to trade on 229 CFD instruments covering Currencies, Stocks, Indices, Commodities, Crypto and ETFs on the browser-based PROfit trading platform for web, as well as mobile, on accounts dedicated to Retail and Professional clients.”

TaoTrade is headquartered in Greece and was founded in 2011. It is a brand name of VIE FINANCE A.E.P.E.Y.S.A which is authorised and regulated by Greece’s financial regulator, the Hellenic Capital Markets Commission (HCMC).

The broker offers nine different types of retail trading accounts called Basic, Discovery, Silver, Gold, Diamond, VIP, Prestige, Superior, Infinity, for commission-free trading with just spreads and swaps payable. They also offer professional trading accounts with higher leverage (1:200 max.), and protection from losses for the first five or eight trades depending on account balance and subject to other terms and conditions.

Users can trade from the browser-based PROfit trading platform for web and mobile, across 229 financial CFD instruments covering Currencies, Stocks, Indices, Commodities, Crypto and ETFs. The broker offers the ability to use Autochartist and provide an economic calendar and market news section on their website.

• HCMC regulated.
• Commission-free trading.
• Browser-based PROfit trading platform.
• First five positions protected.