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Our test result: Trade Toro is not a scam. Read this review to learn about how to use this broker and how to increase your profit prospects.
Trade Toro is a very popular broker that we decided to test to find out whether it is legit or not. Based on our test, the platform is certainly legit and making money on it is very much possible. The best way to trade on it though, is via a crypto robot called Bitcoin Profit.
Read on to find out about Trade Toro’s features, including fees, desposits and withdrawals, registration, customer support and how to trade on it through Bitcoin Profit.
What is Trade Toro?
Trade Toro emerged in 2017 and is currently owned by the company Bravos OU, Harju maakond, based in Tallinn, Estonia. The broker receives legal consultation from Panamera Capital Group LTD., a firm based in St. Vincent and The Grenadines. According to the website, the broker offers one of a kind trading opportunities, with a “limitless” variety of products that investors can choose from and a remarkable user-friendly trading platform. The broker also provides a huge variety of education tools to help users trade. It also offers mobile trading, convenient spreads and commissions and outstanding customer support. These are only some of the features that make Trade Toro a reliable platform.
It is important to point out though, as we have briefly mentioned before, that Trade Toro remains a broker. This means that even though it offers great advantages as well as extremely positive trading experiences, it is not designed to facilitate investment. Brokers are simply spaces on which users can trade, but the software is not capable of telling them what are the best investments to make. Auto trading robots instead, are capable of doing that. Robots like Bitcoin Profit and Bitcoin Code offer an automated trading option. In fact, crypto bots are designed and programmed following an algorithm that gives them the possibility to significantly facilitate traders by giving them suggestions on the most potentially profitable investments. It is the perfect software for inexperienced users who are unaware of how most of the world of online trading works.
If you want to trade on Bitcoin Profit you can click here.
Trade Toro Regulations
Even though Trade Toro offers some great advantages, its website fails to mention that it is an unregulated broker. However, the positive aspects of the platform make up for this minor flaw. Despite being unregulated, the broker shows clear efforts to meet the needs of users by providing detailed information about all the other features available on the platform.
Is Trade Toro Legit or Scam?
The first thing to take away from our test of the broker is that Trade Toro certainly is a reliable platform.
First of all, Trade Toro is transparent about the “high risks” of trading with crypto. Not many brokers are clear about this aspect of online trader in an attempt to lure more people into investing on the platforms. This is one of the main duties of a regulated broker: transparency. Even though this particular platform is unregulated, it still provides this kind of information.
Other characteristic of the website that prove its reliability are the “education centre” and the contact information. The education centre is an area of the website that shows how much the broker seeks to meet the needs of customers. The section has a lot of information on trading, strategies and assets that users can find very useful during their trading experience. The website also offers detailed information on how and when to contact customer service. These are very positive features of the broker that should not be taken for granted considering that many brokers online do not provide any of this information.
Also, there are detailed guidelines on withdrawals and deposits, trading with Bitcoin, Ethereum and all other cryptocurrencies. A great variety of policies and procedures are also provided, ranging from topics such as compliance and privacy to bonuses and withdrawals.
The trading platform is also remarkable. You can access it even before creating an account to see what it looks like. It is very simple to use but at the same time offers many tools that users from all backgrounds of experience can use to enhance their investment strategies.
In general, the broker has a lot to offer. We would however, like to point out that there are many fraudulent platforms circulating the web, so it is always best to make sure that you are on the right platform before depositing any of your funds in it.
Now that we have laid the foundations, let us go into more depth on the characteristics of the broker. We will tell you all about what to expect from it and we also put together a brief step-by-step guide on how to register on the broker.
Trade Toro offers a remarkable variety of assets to interest a larger number of investors. The platform offers numerous CFDs for traders to choose from. More specifically, the broker offers trading opportunities with the most popular cryptocurrencies on the market, including Ethereum, Bitcoin, Stellar, Litecoin and Bitcoin Cash.
Trade Toro uses a web-based trading platform that can be accessed even before creating an account. It is simple to use and includes all the tools and characteristics of the most popular platforms used to support its trades. It includes the asset list and the charting dedicated to the selected asset. At the bottom also the trading history and the investment area of the platform are provided.
Usually, the most common platform used by brokers to support trades is MT4, which may be preferable. However, the platform used by Trade Toro does not have to be downloaded because it runs on browser, whilst MT4 has to be downloaded on your desktop in order to function.
How to sign up on Trade Toro directly (not recommended)
If you want to sign up on Trade Toro directly instead, you are welcome to. However, we must stress that we do not recommend doing so as you would be losing some significant advantages. Like all brokers, Trade Toro is a platform that offers access to the trading market without providing any support while trading. Bitcoin Profit and all other crypto robots use more sophisticated technologies and are based on algorithms that allow the platforms to suggest users what would be the most profitable investments. Platforms like Bitcoin Profit and CryptoSoft in particular, have very high success rates as well. To give it a try, click here.
If you still want to trade on Trade Toro directly, feel free to go on their website and register. The form to fill in is similar to the one for Bitcoin Profit. You will just need to type in your name, email address, phone number and password. You are then asked to confirm that you are over 18. After that, you may switch to demo mode before depositing real funds. You will have access to all the trading functions of the platform and can also simulate trades in demo mode. Once you feel more confident, you may deposit funds into your account.
Trade Toro offers six different account types. Compared to other brokers, that is a really varied choice. Customers can choose to have a Basic, Bronze, Silver, Gold, Platinum or Black Account. Each upgrade allows customer to have access to more advantages. All account holders are entitled to 24/6 customer support, are allowed access to the education centre, the daily market review and webinars.
The Basic account requires a minimum deposit of 500 euros. The Bronze has all the basic advantages but its holders also have access to “junior” price alerts. The minimum deposit is 1000 euros. The Silver account has the same characteristics as the Bronze but users can also get advice from an Account Manager and can have PIA trading signals. The minimum deposit required is 5,000 euros. The Gold account is like the Silver but users also get PIA SMS signals and users have to deposit a minimum of 20,000 euros to start trading. The Platinum has the same advantages as the Gold but its holders also get a personalised trading strategy, can seek support from a 1-to-1 trading trainer and they also get exclusive position access. The minimum deposit is 50,000 euros. No information is available on the Black account, except that only top investors can have it. Information on the differences in spreads is also unavailable.
The leverage on Trade Toro goes up to 1:5. In case you are unfamiliar with the term leverage, it is basically the debt a trader rakes on towards the broker and uses it to make investments. In this case, the trader gets a loan from Trade Toro and invests that money. A leverage of up to 1:5 means that an investor can only take a small loan from the broker to make investments. This means that investors are subjected to smaller risks than if they are offered a leverage of up to 1:50 or 1:100, where they will put more capital at risk.
Commissions and Spreads
Unfortunately, the website does not provide any information on spreads and how they change depending on the account type a user has. That is one of the major points to improve on the platform to increase its reliability. As for commissions, there are none. The website guarantees users savings of 14% on each trade.
Deposits and Withdrawals
The broker offers a good variety of payment methods that users can use to deposit or withdraw funds. These are credit and debit cards, Wire Transfer, Nasdaq and others. Bank transfers are also available. It is true that some platforms offer a greater variety of payment methods but Trade Toro provides all the main ones so it is unlikely that users will not be able to find their preferred payment method. Bank transfers are also accepted in different currencies but we are unaware of what are the currencies accepted so we suggest to find that out before issuing a bank transfer directed to the broker.
The website claims that there are Trade Toro mobile apps available. However, after researching both the App Store and Google Play as well as attempting to click on the app icons on the website, we were unable to find the apps. One could assume that the apps have been temporarily taken down for technical reasons. Anyway, the broker runs on browser, including its incorporated trading platform, which means that you can trade on-the-go without needing a smart phone app. All you need is an internet connection.
Education and Resources
Trade Toro offers many different education tools that users can use to help themselves whilst trading in crypto. The broker provides eBooks as well as informative videos and tutorials for both beginners and advanced traders. There are also informative guides on cryptocurrencies, trading strategies and tools as well as economics and social trading. The choice is varied and the tools offered are aimed at helping and protecting users from losing funds, which further proves that the broker is reliable.
Trade Toro is very specific about the periodical bonuses and promotions on offer. There are four main ones: the pending bonus, the first trade risk free bonus, the immediate cash bonus and the trade insurance bonus. To sum up what these bonuses consist in; the pending bonus is basically a bonus that you will receive once you spend over twenty times the amount of the bonus. The second bonus is a sum of money equal to about 10-15% of your deposit, which will be deposited into your account and that you can use for your first trade. The immediate bonus is just a sum of money deposited into your account that you have to invest. You may not withdraw the bonus without trading it. The trade insurance bonus is a coverage of losses in trades of up to 50% of the deposit amount.
Customer support staff can be contacted Monday to Friday from 9 am to 4am. They can be contacted via phone or email. If queries arise outside these times, users may also fill in a contact with their full name, email address, phone number and content of the message. You are also requested to select the topic of your message, which can be affiliation, billing, account verification, general, media, promotions, trading platform or technical support. Alternatively, staff can also be contacted through a live chat available on the official website.
What makes Trade Toro unique?
Here is a list of pros and cons to help you decide whether you want to trade on the platform.
More robots where you can access Trade Toro
There are several crypto robots where you can access Trade Toro other than Bitcoin Profit.