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TradeApp Review

TradeApp is a registered trademark used as a brand name of Depaho Ltd, a company that is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 161/11.

The company product portfolio consists of over 30 currency pairs, 13 commodities, 70 global shares, 15 global indices, and 6 cryptocurrencies.

The minimum deposit is EUR29. There is no specific information about the account requirements. There is a section called Plans where some examples are given. They just inform you about spread discounts when you deposit different sums.

The company provides its own web-based platform that offers basic trading features. The spreads for the major currency pairs is fixed and the spread for EUR/USD is 3 pips. It is relatively high value but if it is constant during higher volatility, it is not so bad. The spread of the Bitcoin is USD100.

Let us look at the legal documents provided on the website. The Terms and Conditions document indicates that the company guarantees that there will be Negative Balance Protection in the client account when trading Forex or Commodities, or any Financial Instrument offered and provided by the company. That means you cannot lose more than the total sum invested for trading. The same document informs that the company acts as a principal counterparty to all client trades, or it acts as a market maker. This raises a possible conflict of interest between you and the company as its revenue is related to your loss. There also is a clause for slippage and you are warned that during periods of higher volatility, it may be impossible for the company to execute an order at a specific price. This means that your order may not be filled at the declared price. It is noted that slippage occurs to all types of orders including stop loss orders and they will be fulfilled at the next best available price. 

Overall, this is an EU-regulated financial company that offers something different – fixed spread trading, so if you plan to trade during important financial events, a fixed spread is a worthy option.

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