Trade Socio CY

Note: Trade Socio CY' official website: https://sociomarkets.live/ is currently inaccessible normally.

TradeSocioCY is a forex broker based in Cyprus. Traders can explore various markets through MT4 provided. Their minimum deposits are reasonable. However, it is not regarded as a legit broker due to its unregulated status and inaccessible website.

Pros and Cons

Is Trade Socio CY Legit?

Trade Socio was registered on November 23, 2023. As of now, it is currently in an “ok” status. The last update to the domain was on September 30, 2024. But as of now, their website is not accessible. Besides, Trade Socio CY has no regulation. These factors suggest it is not a legit broker and trading with it hinder risks!

What Can I Trade on Trade Socio CY?

Trade Socio CY offers currency, crypto, indices, stocks, and commodities. There's no ETFs trading or bonds trading.

Account Type

Trade Socio CY offers three kinds of live accounts- the Beginner, Standard and Premium accounts with the minimum deposit of $10, $50 and $200 respectively.

Leverage

Trade Socio CY provides leverages for three types of trading accounts: Beginner (1:1000), Standard (1:1000), and Premium (1:500). Yet high leverage can lead to significant profits, but it also comes with increased risks.

Trade Socio CY Fees

Trade Socio CY offers spreads- the Beginner accounts: 2.2 pips, Standard accounts: 1.0 pips and Premium accounts: 0.0 pips. Besides, they do not charge commissions.

Trading Platform

Trade Socio CY offers MT4, which supports over 30 indicators as well as custom indicators. But it should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading.

Deposit and Withdrawal

In the deposit section, the only available option is to transfer funds to a personal Indonesian bank account.