I welcome you to my Traddoo Review.
Traddoo CLAIMS to help you win big using their challenges in the forex market.
The prop firm has different challenges that are designed to help you explore your trading potential.
According to the prop firm, their multi-asset platform for trading allows you to trade different instruments in the forex market.
These include the most traded assets such as forex pairs, indices, cryptocurrencies, commodities, and much more.
This makes it easy for traders to utilize their challenges in trading their favorite instruments.
However, you might not just jump into the program without knowing the real picture behind it.
In this review, I’m here to help you learn about the Traddoo prop firm.
With that taken in mind, let us begin…
Traddoo Review Summary
Product Type: Proprietary Firm
Evaluation Fee: Starting from $99 depending on the account size you choose.
Official Site: traddoo.com
Product Founder: Dylan Worrall
Overall Rating: 5/10
Do I Recommend it? Not For Now
Traddoo Review – Overview
Traddoo claims to be a well-established prop firm looking for traders who want to explore their trading potential and win big on the forex market.
This includes all talented traders who lack the required capital to start trading in the forex market.
The prop firm provides you with challenges designed to help you get your desired capital and start your trading career.
At a small fee, you’ll get the opportunity to purchase your desired challenges and start your trading career.
By observing the other trading rules set in the program, the prop firm allows you to pass their evaluation and get a funded account.
If you receive your funded account from the platform, you’ll begin earning profits from your trade.
The profits are shared based on the profit split agreement where the platform provides you with an instant withdrawal of your share.
This allows you to get access to your profits instantly from the platform.
The prop firm also sets you free to grow your trading capital to your desired capital and win more out of your trade.
This makes it one of the most trading prop firms in the market with more traders using their challenge to earn a living online.
Pros Of Traddoo
- Offers a refund of the registration fee.
- No time limit for trading.
- There is no restriction to consistency trading.
- Offer a 24/7 support.
Cons Of Traddoo
- The prop firm doesn’t offer any free trial.
- There are no scaling opportunities
- The profit share isn’t well explained
Who Should Join Traddoo?
The Traddoo targets to trade with profitable traders who want to explore their trading potential online.
To join this platform, you MUST have the ability to trade and have the required skills in the platform.
In addition, the prop firm expects you to be at least 18 years of age.
On the other hand, the prop firm doesn’t restrict traders from any part of the world from joining.
Also Read: Funded Nation Review
What Is Traddoo?
Traddoo is a prop firm that offers you an opportunity to trade in the forex market using its capital.
Traddoo has a funding program that enables you to trade with a live account.
The prop firm was created by Dylan Worrall who is a successful forex trader.
The prop firm aims to help all traders with the ability to trade to get the opportunity to venture into trading.
Who Is The Founder/CEO Of Traddoo?
Since November 2022, Dylan Worrall has served as the CEO and co-founder of Traddoo.
Possessing a passion for the online multi-asset trade industry, he has applied his expertise to pioneer innovative solutions within the space.
Drawing from three years of experience as a trader, he recognized the opportunity to develop inventive products and solutions to benefit external teams.
Through his proficiency in business development, he successfully assumed the role of CEO at Traddoo.
Worrall is committed to delivering impactful products, and his enthusiasm lies in problem-solving and undertaking challenging projects.
How Does Traddoo Work?
Traddoo works by allowing you to trade in the forex market using their capital.
Before getting funded, you MUST pass their evaluation stage by proving your trading skills in the platform.
Steps Of Joining The Traddoo
This prop firm allows you to get funded instantly to start trading with a live-funded account and earn profits in the forex market.
This process is carried out in the following steps:
Step One: Take The Challenge
This is the first step where you MUST decide your preferred challenge and make your purchase on the platform.
After your payment is confirmed, the prop firm will instantly send you account credentials via email.
This allows you to log in to your account and take the challenge to begin your trading journey on the platform.
Step Two: Pass Your Verification
Your trading journey begins by first passing your evaluation challenge and getting verified on the platform.
This involves passing their evaluation program set in the platform by reaching the set profit target in the platform.
As such, you’ll get a funded account and start trading with the company capital.
Step Three: Get Funded In The Platform.
This is the last stage where you’ll be trading with a live account.
You’ll get funded after passing your two-stage evaluation on the platform.
What Are The Traddoo Two-Stage Evaluation?
The Traddoo two-stage evaluation is a step in the trading journey set in the platform to test your skills as a prop trader.
By going through the two-stage evaluation, you’ll have proven your skills as a profitable trader in the forex market.
This will allow you to qualify for funding in the platform where you’ll start earning from the forex market.
For you to pass this stage, you must observe the trading rules set in the platform.
So, what are the trading rules on this platform?
Let’s get straight to it.
Traddoo Trading Rules
In the first stage of the evaluation, you MUST reach a profit target of 8% to enable you to move to the next stage.
The prop firm then requires you to reach a profit target of 5% in the second stage of your evaluation.
Minimum Trading Days
There are no minimum trading days set in the Traddoo trading prop firm.
This allows you to spend the shortest time possible to reach a funded account in the platform and start earning money.
Maximum Trading Days
There are no maximum trading days set in the platform allowing you to trade at your own time in the platform.
This sets you free from treading pressure as you will have time to concentrate on your trading and get your desired profits.
Maximum Daily loss
The prop firm sets a maximum daily loss of 5% in all the stages of your trading on the platform.
This means that you are not permitted to lose more than 5% of your total account balance in your trading on the platform.
For instance, if you are trading on a $10,000 account balance, you are not permitted to lose more than $500 in a single day.
Maximum Total Loss
Traddoo sets its maximum drawdown limit to 10% for all the stages of trade in the platform.
This means that you are not permitted to lose more than 10% of your original account balance in your trade.
For instance, if you are trading on $10,000, as your account size, you MUST not lose more than $1,000 from your account.
The prop firm doesn’t indicate the profit share percentage in their platform for traders.
The prop firm allows you to trade with a maximum leverage of 1:30.
What Are The Trading Instruments In Traddoo?
Traddoo prop firm allows you to trade a variety of instruments which include the following:
- Forex pairs
The prop firm accepts trading on the Tradelocker platform.
As such, you must check if your trading devices support the two platforms for you to start trading with the platform.
What Is The Supported Trusted Broker By Traddoo?
Traddoo prop firm partners with the OspreyFX platform as their broker.
Some other news I came across from their X platform (formerly Twitter) claims that they are bringing onboard ThinkMarkets as their new Trusted broker.
I guess that could be a result of the unregulated OspreyFX.
Check out the latest news from Traddoo:
What Are The Benefits Of Joining Traddoo?
- No time limit for traders
Traddoo takes off pressure from traders as there are no maximum or minimum trading days set in their platform.
This makes it easy for you to spend more time to pass a stage and trade for your entire lifetime provided you respect the other trading rules.
On the other hand, you can spend the shortest time possible to pass a stage and move to a funded account.
- Offers a refund on your registration fee
Traddoo allows you to reclaim your registration fee if you successfully pass your evaluation on the platform and get your funded account.
For these reasons, you only need to pass your evaluation stage for you to receive your evaluation fee.
- Excellent customer support
The prop firm offers super fast customer support with up to 24/7 support in their system.
This allows you to ask questions on the platform and get feedback as soon as possible to help you aim higher in your trade.
- Doesn’t have restrictions to consistency.
Traddoo prop firm does not restrict you to consistent trading as other platforms do in the market.
This makes it unique in that you are free to trade at your own consistency and speed to achieve your desired profits.
What Is The Cost Of Joining A Traddoo?
The cost of joining Traddoo depends on the account size you purchase on the platform.
These are the available account sizes with their corresponding prices:
- $10,000 evaluation which is the smallest challenge costs a one-time fee of $99.
- $25,000 evaluation which is the most purchased account size costs you a one-time fee of $199.
- $50,000 evaluation is the second largest challenge that costs you a one-time fee of $349.
- $100,000 evaluation which is the largest challenge offered in the platform and costs a one-time fee of $499.
All these fees are one-time fees without any recurring amount on them payable at the beginning of your trading journey.
The prop firm only offers these four account sizes at the moment with a promise of increasing their funding soon.
What Are The Payment Methods In Traddoo?
The prop firm accepts various payment methods which include bank transfer, PayPal, and use of credit cards.
You only need to check if your payment method or card number is accepted in the platform before you make your payment.
Does Traddoo Offer A Refund Policy?
The Traddoo platform allows you to reclaim your one-time evaluation fee after passing your challenge on the platform.
The prop firm allows you to receive up to 100% of your fee.
To reclaim your registration fee, you’ll have to make your withdrawal from the platform.
The prop firm also allows you to make your withdrawal after seven days making you get more access to your funds.
Is Traddoo Prop Firm Legit?
In my opinion, Traddoo prop firm is NOT a SCAM.
The prop firm targets to partner with more profitable traders who want to explore the forex trading career.
However, the company is not partnered with a regulated broker which undermines their legitimacy in the market.
Their broker is not operating under any legal authority making it risky to invest when trading in the forex market (OspreyFX).
In addition, the prop firm doesn’t clearly explain its payout system on its official website making it difficult to understand how it operates.
For instance, the company states in its platform that it offers an instant payment after every seven days.
However, the duration it takes for you to get paid on the platform is not clearly stated together with the payment methods accepted.
For that reason, I may not recommend this prop firm to a trader who cannot take risks when trading on the forex market.
Choosing a prop firm that operates under legal authorities with regulated brokers in the forex market is less risky.
My Assessment On Traddoo
I based my assessment on Traddoo on the following areas:
Profit Splits: 1/10
The profit split is not indicated in the platform despite the prop firm claiming to offer its traders an instant payout after seven days.
Failure to indicate the profit share percentage in the platform also makes it difficult for traders to draft their expectations in their trades.
For instance, you cannot easily make a comparison of how the prop firm pays about other companies in the forex market until you join them.
Scaling Opportunities: 1/10
The prop firm doesn’t mention any scaling opportunities in its platform.
This means that there is no guarantee that you will scale your account in the platform despite being profitable.
Profit Targets: 8/10
Traddoo prop firm offers realistic profit targets in their platform making it easy to pass their evaluation.
The realistic profit targets allow many traders to move to a funded account and start trading with the company capital.
This also makes it easy for less experienced traders to try their luck and succeed in their evaluation.
The prop firm is fairly affordable with their smallest account size starting from $99.
Trader Supports: 8/10
The Traddoo offers you fairly good customer support in your trading journey.
Feel free to pose questions on their platform, where a team of experts is prepared to respond and address any inquiries you may have.
In addition, the good customer support makes it easy for you to reach out to their expert team for coaching and mentorship.
Tradable Assets: 8/10
The prop firm allows you to trade a variety of instruments which include forex pairs, cryptocurrencies, and indices among others.
This allows you to choose your favorite instrument of trade and get your favorite out of your trade on the platform.
In my view, the program falls short of the leading prop firms in the forex market.
The prop firm still lags behind the industry’s most reputable counterparts due to insufficient disclosure of essential details.
This encompasses aspects such as profit sharing, scaling plans, and the payout system within the platform.
My Overall Rating
In my assessment, I would rate the prop firm at 5/10, recognizing it as an emerging entity with significant potential to evolve into a prominent online platform.
Related Review: Lark Funding Review
What Are People Saying
Traddoo prop firm has an average rating on the Trust pilot from a sample of 25 reviews (November 16, 2023).
From the reviews, the prop firm has 3.2/5 stars with 52% of the reviewers giving it a five-star rating.
Now, let me take you through some sample reviews by individuals to know the true picture of the prop firm.
George Lechene is among the reviewers who gave the platform a five-star rating.
The reviewer later realized the prop firm is fast and very professional in conducting its operations online.
ThisSiya, another reviewer on the platform, gave the prop firm a five-star rating as an amazing platform with low spreads.
ThisSya states that trading with the platform challenges is full of fun after using it for about two months.
The reviewer added that the prop firm has a clean dashboard and unbeatable offers on their platform.
Horfissial another reviewer awards the prop firm a five-star rating for partnering with Tradelocker as their trading platform.
The reviewer claims that the Tradelocker provides a sleek trading integration making it easy to trade in their platform.
On the flip side, Bibesh, another reviewer on the platform awards Traddoo prop firm a two-star rating as an average performer in the forex market.
The reviewer claims that the prop firm also has good customer service in the market too.
Smooth Way awards the prop firm a rating of one star claiming that the Traddoo doesn’t payout.
The reviewer claims that the company has scammed many traders online with their funding program.
John Paul also gives the prop firm a one-star rating claiming that the Traddoo prop firm is simply a scam.
The reviewer claims that the prop firm fails their traders after joining their evaluation stage in the platform.
FAQs About Traddoo
How Does The Profit Withdrawal Affect My Account Drawdown Limits In Traddoo?
The account drawdown makes you reduce your account balance to the normal balance in the platform.
This makes the new maximum and minimum daily drawdown calculated based on the new balance.
For this reason, you will not have to worry about withdrawing your profits affecting your account drawdown.
How Long Should My Trading Account Endure Before Facing A Breach?
To safeguard your active trading account from potential breaches, it is essential to keep it in an active state.
The prop firm mandates a minimum of one trade within thirty days to shield your account from breaches.
It is crucial to adhere to the stipulated inactivity period while engaging in trades on the platform to ensure the security of your account.
Is It Possible To Request A Payout After A Breach In My Account On Traddoo?
Unfortunately, in the event of a hard breach, despite being in a profitable position, withdrawals are not permitted.
The prop firm will reset your trading account, initiating a new challenge that restricts further trading on the platform.
To resume your trading endeavors, you’ll need to acquire a new challenge within the platform and commence the evaluation process anew.
Is There An Evaluation Extension For Trading Accounts In Traddoo?
The prop firm has an evaluation extension up to the first payout in the platform.
After making your first payout in the prop firm, the prop firm allows traders to earn money while trading on the platform.
However, there is no profit target set in this extension allowing you to trade at your own targets.
Thank you for reading the Traddoo Review.
I’ll be happy to get to know what you think about this prop firm.
Feel free to leave a comment in the section below.