Tradingmoon Forex Review

Read our full Tradingmoon review to get exact details about their safety, accounts, spreads, platforms, assets, support, and many more. Our unbiased Tradingmoon opinion allows our readers to decide whether Tradingmoon is a reliable broker.

Tradingmoon Forex Broker History

Tradingmoon is a financial brokerage company that is the trading name of Skilling, a regulated broker. However, Skilling’s FCA license was suspended recently, and the broker did not continue it. Instead, the broker got regulated offshore, and the same is true with Tradingmoon, which is regulated by the Seychelles Financial Services Authority (FSA). Offshore regulators are not as strict as reputable regulators such as the UK’s FCA and this is a major red flag.

All the services are similar to Skilling’s services and the broker also offers deposit bonuses for new customers.

Tradingmoon Broker Review of Accounts

Tradingmoon offers two account types, standard and low spreads. The standard account is a commission-free account, which is for general trading purposes, allowing for low-cost trading. However, it has spreads of around 1 pip, which is not suitable for scalpers. The leverage is up to 1:1000, which is a bit higher than the industry standards. The minimum deposit starts at 25 dollars and with a leverage of 1:1000, traders can control substantial amounts, which also creates risks of excessive risk-taking.

The second type of account offers lower spreads but charges commissions. The commission is 35 USD per million dollars traded, which is competitive. However, spreads are not zero and traders have to carefully analyze their strategies before trying scalping methods. Scalping strategies generally require low spreads as traders target tiny movements with these kinds of strategies.

Tradingmoon Reviews of Trading Platforms

When it comes to trading platforms, Tradingmoon provides several advanced software including its own platform. The list of platforms includes TradingMoon Edge Trader (Formerly Skilling Trader), cTrader, MetaTrader 4, and TradingView. With these many choices, traders can select a suitable trading platform. They also allow custom indicators and Expert Advisors (EAs), which is super useful for algorithmic trading. These platforms are also available as mobile apps, allowing access from almost all mobile devices, tablets, and smartphones. The broker allows Expert Advisors, but traders need to read the conditions so as not to breach rules.

Tradingmoon Forex Review of Extra Features

The broker offers a deposit bonus of 100%, allowing traders to double their initial deposit. However, there are strict rules and conditions for using this bonus and traders should carefully read all the requirements so as not to get frustrated later. There are no other extra features offered yet, such as trading courses or educational content. The lack of educational resources is a serious downside. There are no additional trading tools available at the moment, which is also a minor drawback.

Tradingmoon Reviews of Customer Support

When it comes to customer support services, Tradingmoon offers both live chat and email options. The live chat is built into the website and allows for immediate access to support, which is super important when trading online. There is no phone support offered which is a downside. The broker is still in its infancy when it comes to Tradingmoon, and it might take some time before it refines all its services in its new form to provide quality trading services.

Both the website and support options are available in the English language only, which is a serious downside. The lack of phone support is usually a huge red flag as reliable brokers never hide their phone numbers and address.

Tradingmoon Deposit and Withdrawal

Tradingmoon deposits and withdrawals are mostly okay as they allow for commission-less deposits and are mostly instant. When it comes to withdrawals, the broker allows traders to use diverse options such as bank cards, online wallets, and wire transfers. Withdrawals are quick and take 2-4 business days for wire transfers and faster with other options. Traders need to carefully read the rules for deposits and withdrawals to ensure they do not mess up something. This is because, often brokers force traders to use the same payment option for both deposits and withdrawals and if a trader wants to change the payment option, they might face issues and problems.

Tradingmoon Review Conclusion

Tradingmoon offers a variety of trading platforms, high leverage, and competitive account-type options, but it operates under offshore regulations. Offshore regulations are not as strict as reputable regulators. While the deposit bonus and commission-free accounts are appealing, the lack of strong regulation, phone support, educational resources, and trading tools are serious drawbacks. Traders should carefully assess the risks associated with these kinds of brokers before choosing Tradingmoon as their main broker.