Traddoo Reviews

What is Traddoo?

Registered in the US, Traddoo is a proprietary trading company that complies with local jurisdictional laws. The 1-phase challenge and the 2-phase challenge are the two main account types. It accepts a wide range of traders with a $99 minimum deposit. 75/25 to 80/20 profit-sharing arrangements are possible, based on the trader’s balance and the type of account.

Traddoo allows for the employment of trading advisors and supports a variety of trading methods, including hedging, scalping, and news trading. Weekend trading isn’t available, though. 

To offer a transparent trading experience, Traddoo has partnered with Eightcap, a business that specializes in raw spread trading accounts. Trading fees are not paid by Traddoo; nonetheless, clients are in charge of paying spreads and any broker fees that Eightcap may levy.

Traddoo Funding Programs and Challenges: Rules and Requirements 

• Abiding by Rigorous Risk Management Regulations-

Strict risk management guidelines that brokers implement during problems might be challenging for traders. These regulations, which include limitations on the maximum daily losses and required stop-loss orders, can be difficult to follow, particularly for traders accustomed to a more flexible strategy. 

Traders should concentrate on creating a disciplined trading strategy to get beyond this challenge. This entails being aware of and abiding by the limits as set forth, as well as maybe honing abilities via a demo account to adjust to these restrictions. It’s also essential to educate them on risk management strategies that work.

• Ensuring Consistent Profitability-

Continually making money in the face of difficulty is a prevalent issue. The imperative to exhibit success within a designated timeframe may prompt hurried decisions or departures from a trader’s customary approach.

• Strategies for Overcoming the Challenge-

Traders can overcome this difficulty by continuing to trade with a methodical, thoughtful approach. Following tried-and-true methods is far more important than chasing short-term profits. Achieving consistency requires patience and setting reasonable profit goals.

• Navigating Limited Trading Instruments-

The availability of a restricted range of trading instruments in certain challenges can be a barrier for traders who specialize in markets or assets that are not included in the challenge.

• Strategies for Overcoming the Challenge-

To adjust, traders had to expand their areas of competence to encompass a wider variety of instruments. To increase their flexibility and understanding, this may entail researching other marketplaces and making trades in uncharted territory.

Phase-1

• $99 is the minimum deposit.
• $10,000 – $400,000 is the balance range.
• A 10% profit target is set for the challenge.
• 25% of profits divided between balances of $10,000 and $25,000.
• For larger balance amounts, 80%

Two-Phase Challenge: 

• $99 Minimum Payment
• $10,000 – $400,000 is the balance range.
• Profit Objectives:
• 10% during the first phase and 5% during the second
• Profit Sharing: 80% of total outstanding balances

What are Forex Prop Challenges?

Forex prop challenges are a form of evaluation procedure put up by proprietary trading businesses (prop firms) to find exceptional traders and provide them with the opportunity to trade with the firm’s funds. These challenges are intended to put a trader’s capacity to earn profits while properly managing risk to the test, with a set of trading rules and objectives to adhere to over a specific period.

A forex prop challenge normally has two primary stages:

1. The challenge phase: During this initial phase, traders are given a demo account with a fixed balance and are asked to meet a certain profit objective within a set timeframe, often a month or two, while adhering to maximum drawdown restrictions and other trading guidelines. This phase evaluates the trader’s capacity to earn profits within specified risk constraints.

2. The Verification Phase: Traders who successfully met their profit objectives and followed the regulations during the challenge phase advance to the verification phase. This stage is similar to the challenge phase, although it often lasts longer and may include somewhat different profit objectives or criteria. The goal of this phase is to confirm the trader’s consistency and expertise across a longer time frame.

After completing both steps, traders are often awarded a funded account. This implies that the prop business sets aside a portion of its funds for the trader to handle. The profit gained by trading this capital is split between the trader and the prop business according to a predetermined split.

Forex prop challenges need a cost, which varies for each prop business. This charge covers the expense of the review procedure and guarantees that traders are committed to the offer.

The particular criteria aims, and structure of prop challenges might differ significantly between businesses. Traders are expected to match the following common parameters:

– Profit targets: A predetermined proportion of the account balance that traders must meet.

– Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, both daily and cumulatively.

– Minimum trading days: The number of active trading days required throughout the challenge period.

– Trade style restrictions: Some companies may have regulations about trading strategies, such as forbidding high-frequency scalping or overnight positions.

Aside from the initial challenge fee, forex prop challenges provide traders with access to considerable trading capital without putting their cash at risk. However, participants must carefully evaluate the terms and circumstances of these challenges, since the criteria established by prop businesses are stringent and intended to test traders’ discipline, risk management, and trading acumen.

Traddoo Broker: Do They Use a Reliable Platform? 

Through the use of the MetaTrader 4 and MetaTrader 5 platforms, Traddoo guarantees a comfortable and effective trading environment. It provides more than 100 assets, such as CFDs, indices, stocks, currencies, and cryptocurrency. Leverage is capped at 1:30 and is tailored according to the financial instrument.

Traddoo Fees: How Much Do They Charge? 

Traddoo has shown me that their charge and commission schedule is consistent with what is typically seen in proprietary trading firms. They charge partners upfront fees and other options at an additional cost. 

Occasionally, there might be a subscription charge in place of a deposit. It’s important to remember that these prop firms usually don’t charge for trading. This is because brokers like Traddoo’s partner, Eightcap, handle the routing of client trades to the interbank market; they do not handle this task themselves. For this reason, spreads and fees are only applied by brokers.

One important thing to keep in mind is that traders who deal directly with brokers may pay different spreads or trading costs than traders who trade through prop firms. This discrepancy results from the different contracts prop traders, like Traddoo, have with brokers, which frequently provide better terms for their customers. 

For example, there is no withdrawal commission and a minimum spread of just $1 in Traddoo’s one-phase challenge. This also holds for the two-phase challenge. Because of its fee schedule, traders looking for an affordable trading platform will find Traddoo to be a compelling option.

Thus, Forex prop trading fees refer to the costs associated with participating in a proprietary (prop) trading firm’s program, particularly those that offer traders the opportunity to trade the firm’s capital. These fees are a critical aspect of the business model for many forex prop firms, especially those that run challenge or evaluation programs to vet potential traders. Here’s a breakdown of the types of fees that traders might encounter:

1. Challenge Fees

These are upfront fees traders pay to enter into a trading challenge or evaluation program. The challenge is essentially a test that evaluates a trader’s ability to generate profits while adhering to specific risk management rules. If successful, the trader is usually offered the opportunity to trade with the firm’s money. Challenge fees can vary significantly depending on the firm, the size of the demo account provided for the challenge, and the complexity of the challenge itself.

2. Account Setup or Administration Fees

Some prop firms may charge a one-time setup fee for creating and managing a trader’s account. This fee might cover the administrative costs associated with setting up the trading infrastructure, account monitoring, and other backend services necessary for the trader to begin trading.

3. Monthly Desk Fees

Desk fees are akin to rental fees for the physical or virtual space and resources (like software, data feeds, and trading tools) provided by the prop firm. While more common in traditional prop firms that offer physical trading desks, some online forex prop firms might also charge a monthly fee for access to premium trading platforms or tools.

4. Profit Split

While not a fee per se, the profit split arrangement is a significant financial consideration in prop trading. After successfully passing a challenge, traders are allowed to trade with the firm’s capital, and any profits generated are split between the trader and the firm according to a predetermined ratio. Common splits might be 70/30 or 80/20, favoring the trader. It’s essential to understand the profit split terms as they directly affect the trader’s potential earnings.

5. Software or Data Fees

In some cases, traders might need to pay additional fees for access to specialized trading software, real-time data feeds, or analytical tools that are not included in the basic package offered by the prop firm.

6. Education or Training Fees

Some prop firms also offer educational courses, mentoring programs, or trading workshops. These might be optional or required parts of the trading program, with fees varying widely based on the content’s depth and duration.

Key Considerations

– Value for Money: Traders must assess whether the fees charged by a prop firm offer good value for the services provided, especially in terms of the trading capital access, technology, and support offered.

– Transparency: Reputable prop firms are transparent about their fee structure, with no hidden charges. Traders should thoroughly review all terms and conditions before committing.

– Risk: While paying fees for a chance to trade with significantly more capital can be appealing, traders should consider the risk of not passing the challenge and the potential loss of the fee paid.

Forex prop trading offers a unique opportunity for traders to leverage more substantial capital than they might otherwise access. However, understanding the fee structure is crucial to making an informed decision about which prop firm to engage with.

Traddoo Proof of Payment:

When checking the traders’ shopping cart, be sure to verify the account terms and pay attention to the desired payment method area. Choose a payment method, like a bank card, cryptocurrency wallet, or internet transfer, and provide the necessary information.

Traddoo Customer Support: 

A trader will often come into scenarios that call for outside help, such as technical issues or questions regarding trading platforms. Furthermore, Traddoo’s technical support makes the withdrawal request procedure easier, therefore their promptness and efficiency are crucial.

Traddoo distinguishes itself from its rivals by providing expert support around the clock. This constant availability guarantees that a specialist is always available to help, at any time of day or night. This ensures that traders never have to be without assistance when they need it most, including on weekends and at night. 

There are several ways to get in touch with their support team: email, live chat, and Discord are among the accessible communication channels. The wide range of communication options and constant availability of Traddoo greatly improve the trading experience.

What Makes Traddoo Unique? 

Traddoo’s distinct fundraising program structure sets it apart from other private trading companies. Traddoo streamlines the program selection process by providing two distinct challenge phases: the 1-phase and 2-phase challenges, in contrast to many other companies that offer intricate program options. This simplified process makes it simpler for traders to comprehend and select a program that fits their trading goals and style, especially for those who are new to prop trading.

Traddoo’s competitive profit split, which surpasses industry norms, is another noteworthy aspect. The profit split in the one-phase challenge is in the trader’s favor; it starts at 75% for balances between $10,000 and $25,000 and increases to 80% for balances above that amount. Traddoo’s profit-sharing model is appealing to traders who want to optimize their profits, setting it apart from competitors that provide less favorable terms.

Furthermore, Traddoo does not impose trading days or trading techniques, emphasizing trader autonomy and flexibility. This gives traders the ability to work at their speed and with their strategies a degree of autonomy that other prop firms may not always provide. In the prop trading market, Traddoo is positioned as a forward-thinking and trader-centric organization because of its flexibility and robust infrastructure, which includes round-the-clock technical support.

Traddoo Reviews: What Do Their Customers Say?

Traddoo has 3.1 stars rating out of 5 and it has 39 reviews on Trustpilot. 

#1. ThisSiya stated that the prop firm is exceptional with little spreads. He has been engaging in trading activities with Traddoo for 2 months on a trial account and finds the firm to be exceptional. There are numerous examples of successful payouts, and the founders are exceptional individuals who are consistently striving to introduce new ideas.

The Learn2Earn program was exceptional until it was compromised by individuals who used it. That is the reason for the abundance of counterfeit reviews on this platform. Those are only the individuals who attempted to exploit it.

Traddoo offers exceptional deals and features a user-friendly interface.

#2. Austin mentioned that it is one of the best proprietary firms he has dealt with. The support was amicable and my account details were promptly provided for his assessment. 

#3. Javi alleges that the spread is excessively high and accuses them of scamming him and others out of hundreds of dollars from a $10,000 account offered through the Learn to Earn function. Everyone was in their Discord chat when they abruptly deleted all user accounts without any hesitation. Unreliable, at the very least.

#4. Georges Lechene states that he bought a 10k financed account but was mistakenly charged for 3 accounts. 10,000 accounts were contacted by email, and they agreed to reimburse only 2 accounts.

After a week of no response, he sent another email. They repeatedly apologized and promised to refund him in response to his ten emails. Traddoo is a fraudulent entity and should be avoided.

Conclusion

After a thorough evaluation, it was determined that Traddoo is a proprietary trading company with a few clear benefits as well as certain things prospective consumers should be aware of. Some of Traddoo’s advantages are its easily accessible account options, equitable profit splitting, and adaptability to different trading tempos and styles. Not to mention, the company offers a wide variety of financial instruments and round-the-clock technical support, two excellent attributes that draw in a wide spectrum of traders.

But it’s crucial to approach Traddoo from a neutral stance. Those who prefer face-to-face communication may find it disadvantageous because there isn’t a call center for customer service. Furthermore, some investors might be concerned about Traddoo’s lack of direct license or regulatory data, which emphasizes the significance of carrying out careful due diligence.