Tradition is a financial services company that was established in 2022 and is headquartered in Seoul, South Korea. It operates as a private entity under the name Tradition Korea Ltd.. The broker primarily serves institutional clients, specializing in over-the-counter (OTC) financial and commodity markets. With a focus on foreign exchange (FX) derivatives, interest rate derivatives, and fixed income securities, Tradition has carved a niche in the complex landscape of financial trading.
Tradition's development has been marked by significant milestones, including the acquisition of regulatory licenses that allow it to operate within South Korea's financial ecosystem. The firm aims to provide comprehensive brokerage services that cater to the needs of its clients, which include banks, hedge funds, and other financial institutions. As a member of the Compagnie Financière Tradition (CFT) group, Tradition leverages the expertise and resources of a globally recognized entity in the interdealer broking industry.
The company's business model is centered around institutional services rather than retail forex trading, focusing on providing high-quality execution and liquidity solutions to its clients. This positions Tradition as a key player in the financial services sector, particularly for those seeking to navigate the OTC markets.
Tradition operates under the oversight of the Financial Supervisory Service (FSS) in South Korea, which is responsible for regulating financial institutions and ensuring compliance with local laws. The broker holds a license from the FSS, although specific license numbers have not been disclosed in the available sources.
However, it is important to note that Tradition has been associated with a suspicious clone of the Financial Conduct Authority (FCA) in the United Kingdom, which raises concerns about the legitimacy of its operations outside South Korea. The FCA license number mentioned, 188584, is flagged as potentially fraudulent, indicating a need for caution among potential clients.
Tradition adheres to strict policies regarding client fund segregation, ensuring that client funds are kept separate from the company's operational capital. This is a critical measure to protect client assets in the event of financial difficulties. Additionally, the broker implements Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols to enhance compliance and mitigate risks associated with illicit activities.
Tradition offers a diverse range of trading products, primarily focusing on FX derivatives and interest rate derivatives. The broker provides access to various financial instruments, including:
However, it is noteworthy that Tradition does not offer retail forex trading services, commodities, indices, stocks, cryptocurrencies, or ETFs. This limitation may affect clients seeking a more comprehensive trading experience across multiple asset classes.
The introduction of new products is subject to market demand and regulatory approvals, ensuring that Tradition remains responsive to the evolving needs of its clients. The firms commitment to innovation is reflected in its ability to adapt its offerings based on market trends and client feedback.
Tradition does not support the widely recognized MetaTrader 4/5 platforms, which are popular among retail traders. Instead, the broker utilizes proprietary trading platforms designed to meet the specific needs of institutional clients. These platforms are equipped with advanced trading tools and analytics, enabling clients to execute trades efficiently and effectively.
The broker offers a web-based trading platform that provides users with a seamless trading experience, along with mobile applications compatible with both iOS and Android devices. This flexibility allows clients to manage their trading activities on the go, ensuring they remain connected to the markets at all times.
Tradition employs an ECN (Electronic Communication Network) execution model, which facilitates direct market access and enhances liquidity for its clients. The broker's technical infrastructure is robust, with servers strategically located to minimize latency and optimize trade execution speeds. Additionally, Tradition supports API access for clients interested in automated trading solutions, further enhancing their trading capabilities.
Tradition offers various account types tailored to the needs of institutional clients. The standard account conditions include:
The absence of retail account options may limit access for individual traders, as Tradition focuses on providing services to larger institutional clients with specific trading needs.
Tradition supports a variety of deposit methods, including:
The minimum deposit requirements are not explicitly stated for different account types, reflecting the broker's institutional focus. Deposit processing times are generally prompt, although specific timelines are not disclosed.
Withdrawal methods include traditional bank transfers and other secure options. Clients should be aware that withdrawal processing times may vary, and fees associated with withdrawals could apply, though specific fee structures are not detailed in the sources.
Tradition offers robust customer support through multiple channels, including:
The customer service operates during standard business hours, catering to clients in different time zones. Tradition provides multi-language support, ensuring effective communication with clients from diverse backgrounds.
Educational resources include webinars, tutorials, and market analysis services, designed to equip clients with the knowledge and insights needed to navigate the financial markets effectively. The firm also offers market analysis reports, providing clients with updates on market trends and trading opportunities.
Tradition primarily serves clients in South Korea and has a growing presence in other regions, though specific details about regional offices are limited. The broker is committed to adhering to local regulations and maintaining compliance with the jurisdictions it operates in.
However, Tradition does not accept clients from certain countries, which may include jurisdictions with stringent regulatory environments or where the broker lacks the necessary licenses. Specific restrictions are not explicitly stated, highlighting the importance of potential clients conducting due diligence before engaging with the broker.
In summary, Tradition is a specialized broker focused on providing institutional trading services in the OTC financial markets. While it offers a range of products and advanced trading solutions, its limited retail offerings may not cater to individual traders seeking broader access to financial markets.