TradeATF Review 2024
Website: www.tradeatf.com
Min. Deposit: US$ 100
Leverage: 1:30 | 1:500
Trading Platforms: MT4
Regulation: CySEC, FSC
Headquarters: Cyprus
Founded: 2013
Updated on April 15, 2024
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At Broker Insight, our review methodology for evaluating brokers is comprehensive and multi-faceted, ensuring a well-rounded analysis. We start by examining the broker's regulatory compliance and background, assessing the security and reliability of their operations. This is followed by a thorough evaluation of the range and diversity of trading instruments and markets offered, as well as the variety and suitability of account types available for different trader profiles. We delve into the trading platforms and tools provided, focusing on user experience, functionality, and technological robustness. Fees, spreads, and overall cost structure are scrutinized for transparency and competitiveness. A key component of our review involves testing the effectiveness and responsiveness of customer support. Additionally, we consider the ease and efficiency of the deposit and withdrawal processes. Finally, we incorporate real user feedback and the broker’s community reputation into our assessment to present a holistic and unbiased review that serves as a valuable resource for traders seeking reliable and insightful broker evaluations.
TradeATF emerges as a fresh and dynamic forex broker, having been established under the legal framework of Cyprus. It aims to leverage cutting-edge technology to provide traders worldwide with superior trading conditions and educational resources. TradeATF operates under the umbrella of Hoch Capital Ltd, a well-regarded entity in the forex and trading industry known for managing multiple trading brands, including iTrader among others. This affiliation underscores TradeATF's commitment to professionalism, bolstered by Hoch Capital Ltd's extensive experience in the sector. Even though TradeATF is relatively new to the scene, it has rapidly grown its clientele to over 10,000 traders globally, a testament to its appealing trading conditions. The broker caters to both novices, with streamlined account setup and educational support, and professionals, offering innovative tools and unrestricted access to the powerful MT4 trading platform. However, potential clients are advised to thoroughly read this review to understand TradeATF's offerings before making a decision. Note that there have been some concerns raised in our detailed research and financial trading analysis, which are covered in the ETFinance Updates section.
TradeATF distinguishes itself with straightforward account openings, favorable trading conditions, comprehensive educational resources, and a strategic approach to fees. However, it's not without its drawbacks; some traders have reported dissatisfaction, and the available trading instruments are limited to Forex and CFDs. Additional details on recent developments are provided further in the review.
Our investigation concludes that TradeATF may not be entirely safe. Although the broker previously held a CySEC license, any infraction of rules would lead to fines and public notifications, which have occurred.
Is TradeATF Legit?
TradeATF operates through two entities. One is based in the offshore jurisdiction of Belize, while the other is registered and regulated in Cyprus, under European regulations. As a brand name of Hoch Capital Ltd, TradeATF is regulated by the Cyprus Securities and Exchange Commission, adhering to regulatory standards for financial services within the EEA and beyond. Compliance with MiFID and ESMA regulatory obligations further emphasizes TradeATF's commitment to ethical brokerage services and investor protection. Although we generally advise caution when dealing with offshore brokers, the European regulation of TradeATF's entity suggests that opening an account under European regulation is safer and ensures adherence to international standards and the protection of investors' funds.
TradeATF is an interesting case as it operates under two different entities, each with its own leverage conditions due to regulatory differences. The entity based in Cyprus, adhering to European regulatory standards, offers a maximum leverage of 1:30 for major currency pairs and 1:10 for commodities. On the other hand, the international entity based in Belize, which caters to global traders, offers a significantly higher leverage of up to 1:400. This variation reflects the different regulatory environments and the levels of risk deemed acceptable in different jurisdictions.
Furthermore, professional traders who have been verified and confirmed as such may access even higher levels of leverage, potentially up to 1:400 or 1:500. It’s important for traders to be aware of these different leverage options and regulations, depending on their trading status and the entity under which they are trading with TradeATF. This understanding is crucial for effectively managing risk and making informed trading decisions.
TradeATF offers a diversified range of account types tailored to accommodate the needs and preferences of both novice and experienced traders. The selection includes Silver, Gold, and Platinum accounts, each designed with distinct features and benefits to enhance the trading experience. These accounts differ mainly in terms of spreads, with the more premium accounts offering lower spreads and additional perks such as swap discounts, which can significantly impact trading costs and profitability.
TradeATF provides its clients with the opportunity to trade on a wide variety of market instruments through Contracts for Difference (CFDs). The platform boasts an impressive selection of over 350 assets, covering major currency pairs, cryptocurrencies, indices, energies, metals, and stocks. While some traders might view the CFD-based trading approach as somewhat restrictive, it offers several benefits, including the ability to leverage and short sell, making it a versatile option for many.
TradeATF implements a variable fee structure that is dependent on the account type chosen by the trader. For instance, the Silver account features minimum spreads starting from 0.07, the Gold account provides spreads from 0.05 along with a 25% rollover discount, and the Platinum account offers the most competitive spread of 0.03 and a substantial 50% swap discount. Additionally, traders should be aware of other potential costs, such as funding fees, inactivity fees, and swaps, which can affect the overall cost of trading.
Pros
Competitive spread offering for Gold and Platinum accounts
Attractive swap discounts for longterm traders
Cons
Possible additional fees like funding and inactivity fees
TradeATF's pricing model is primarily based on spreads, eliminating the need for commission-based charges. This approach simplifies the cost structure for traders, making it easier to manage and predict trading expenses. The spread, or the difference between the buy and sell price, varies according to the account type, with Silver accounts starting from 0.07 pips, Gold accounts from 0.05 pips, and Platinum accounts enjoying the lowest spread of 0.03 pips. It's important for traders employing swing strategies or holding positions overnight to consider the SWAP or rollover fee, although Gold and Platinum account holders benefit from significant discounts of 25% and 50%, respectively.
Pros
No commission fees, simplifying cost calculation
Competitive spreads for premium account holders
Cons
SWAP fees for overnight positions, albeit discounted for highertier accounts
In the realm of market availability, TradeATF stands out by offering its clients the ability to trade across a broad spectrum of more than 350 assets through CFDs. This extensive selection includes sought-after currency pairs, emerging cryptocurrencies, key global indices, various forms of energies and metals, and a wide range of stocks. Although trading exclusively on a CFD basis may seem limiting to some traders, it affords a number of advantages, including leverage, the ability to go long or short, and access to a vast array of markets without needing to own the underlying asset.
TradeATF, as a regulated broker, adheres strictly to financial management rules, ensuring that clients' funds are always safeguarded and held in segregated accounts. The broker facilitates secure transactions, allowing for seamless funding to and from your trading account.
Deposit Fees and Options
TradeATF supports depositing funds through widely-used payment methods, including popular providers, which might seem somewhat limited for the EU entity but are generally the most convenient and secure options available. Notably, for accounts under the International TradeATF entity, a broader selection of financial services is accessible due to different regulatory standards. Checking with customer service regarding money transfer policies is advisable. The deposit methods include:
Bank Wire Transfer
Credit Card, Debit Card
Skrill
Minimum Deposit Requirement
The minimum deposit required by TradeATF to open a Silver account is EUR 100, whereas higher-tier accounts require larger deposits. Impressively, there are no charges for deposits, eliminating any commission fees. However, it's important to verify any potential fees with your payment provider or bank, as international regulations may differ.
Most other brokers have a minimum deposit of $500.
Withdrawal
TradeATF ensures a customer-friendly withdrawal process, with all transactions managed efficiently through the online account area.
Trading Platforms ▲
The trading platform offered by TradeATF, the industry-renowned MetaTrader4, is chosen for its flexibility and comprehensive features. The absence of alternative platforms highlights MT4's adaptability and the vast array of features it provides, catering to almost any trading need.
Pros
Mainstay on MetaTrader4
Userfriendly design
No limitations on strategies
Fee Report, Price alerts, Fee reports available
Supporting numerous languages
Web, Mobile, and Desktop versions
Social Trading capabilities
Cons
No other platform offered
Web Trading Platform
The MetaTrader platform provided by TradeATF includes a Web Version, with the option to install a Desktop platform as well. All features are synchronized across devices, thanks to MT4's cross-platform compatibility. Web Trading is particularly user-friendly, requiring only a browser and internet connection for immediate trading access.
Look and Feel
MT4 is celebrated for its superior charting, intuitive navigation, and customer-friendly design, making it accessible even to those unfamiliar with the platform. TradeATF also offers educational materials to help users fully leverage the platform's capabilities.
Opening Position
The platform allows comprehensive management of opening and closing positions, with various order types available, including stop loss and limit loss. MT4's renowned automated trading features and social trading options are also included in TradeATF's offerings, accommodating traders of diverse styles.
Customer Support ▲
Education and Research
TradeATF stands out for its supportive approach to traders of all levels. The broker provides an extensive array of educational and Forex learning resources, along with courses tailored to different levels and topics of interest. Additionally, tools for both novice traders and those interested in social trading are well-organized and readily available.
A notable warning was issued by the UK's FCA on 28 May 2020 against Hoch Capital and its trading names, Trade ATF and iTrader, for practices deemed detrimental to investor interests. Despite being regulated by CySEC, the FCA found the broker's aggressive marketing strategies and misleading promotions in the UK to violate MiFID obligations, leading to numerous complaints and inappropriate product-client assessments.
Hoch Capital and its trading names were required to cease providing financial investment services to UK residents. Currently, TradeATF's Cyprus license is under review for voluntary renunciation, meaning it operates primarily through its Belize entity, which lacks stringent regulations. Due to these concerns, trading with TradeATF's Belize entity is not recommended. A safer alternative broker, HotForex, is suggested for a more secure trading experience. For more details, read our comprehensive review of HFM.
