One of the newest online trading platforms in the UK, Tradon offers a wide selection of cryptocurrency options. It offers many unique features and has a cost-effective and simplistic pricing structure. In this article, we’ll cover the features of Tradon that may be most appealing to crypto traders, as well as the pros and cons of trading crypto with tradon.
Main features of Tradon for crypto trading:
1) Wide range of cryptocurrencies:
Tradon offers nearly twenty different cryptos, including the most popular digital coins, such as Bitcoin, Ethereum, Dogecoin, Ethereum Classic, Bitcoin SV, and Bitcoin Cash. Even though some of Tradon’s rivals may offer more crypto options, those options often don’t include some of the more popular names in the crypto space.
2) Simplified pricing structure:
Many online crypto brokers have complex and confusing pricing structures, consisting of both transaction fees and spread fees, depending on trading volume. Tradon, on the other hand, generates its revenue entirely from the spread (the spread can be defined as the difference between the buying and selling price of the crypto). Although spreads are subject to change, Tradon is consistent and transparent about its fees.
3) Possibility to combine crypto- and stock-trading in the same account:
Very few online brokers in the UK have the ability to trade cryptos and stocks, and those that tend to only offer a very small group of cryptocurrencies. Tradon, as you already know, offers an excellent selection of digital currencies. But, in addition to that, it also lets you indulge in stock trading and investing.
With Tradon, you can enjoy commission-free stock trading, as well as the option to buy fractional shares. Additionally, people who are new to the world of trading can benefit from a “test” virtual brokerage account where they can get a feel for trading and invest without putting real money at risk.
4) Teaching resources:
Speaking of being new to trading, a newbie to trading would want to sign up with an online brokerage firm that offers trading education and training. With Tradon, you can improve your investment acumen with interactive and informative webinars, glossaries, video tutorials, how-to guides, and one-on-one training sessions.
The educational resources cover a range of crypto trading topics, as well as more general topics such as calculating pips, trend analysis, pending orders, risk management and resistance trading.
5) Premium desktop and mobile experience:
Tradon offers several trading platforms and clients can choose the one they are most comfortable with. Both the desktop version and the mobile app (available for IOS and Android) come with transparent and customizable listings that simplify execution and trading. Seasoned traders can even plot custom charts, and traders can even develop a watchlist that includes currencies or other assets of their choice.
6) Customer Support:
Tradon offers excellent customer support, consisting of live online chat for existing and new customers. Additionally, the platform also offers 24/5 support via email and phone.
Beyond working hours, Tradon’s easily locatable robo-advisor can answer a number of FAQs (Frequently Asked Questions). The most basic of these FAQs can also be found on the platform’s website. Social media support is offered via Facebook, Instagram and Twitter.
7) Use of cold storage wallets:
To ensure the protection of its customers’ digital assets, Tradon uses cold storage wallets to store cryptocurrencies. Since cold storage wallets are not connected to the internet, they are not vulnerable to hacking, theft or other forms of cyber attacks.
Benefits of trading crypto with Tradon:
- Availability of the most popular coins, many of which are not available on competing exchanges
- A user-friendly app
- Several trading platforms
- Educational resources for new traders
- Great customer support
- A simplistic pricing structure
Disadvantages of trading crypto with Tradon:
- High fees on some cryptocurrencies
- Limited options for stocks and other trading instruments
In summary, Tradon is the right online crypto trading platform for someone who wants a large collection of cryptocurrencies and wants to avoid complicated price structures. Also, if you are a newbie crypto trader and want to improve your trading education and knowledge, the learning resources available on Tradon can be of great help to you.
However, if you want to diversify your portfolio with various other trading instruments like stocks, bonds, and FOREX, you might think that Tradon doesn’t have enough options.
To learn more about the platform or to open an account, do not hesitate to visit their website.
(Devdiscourse journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse claims no responsibility for them.)