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It’s hard to say for sure where Tradorax is located or who owns it because they don’t list the information on their website or in the terms and conditions. At last check they claimed to be operated by Beta Tech LTC, registered in London at 35-37 Ludgate Hill, ECM 7JN, London, UK. Just FYI this is a virtual office address headquartering more than 2,500 other businesses. Basically it’s a PO Box. This company is not registered or regulated by the British FCA or CySEC. They can be contacted by live chat if you want to get a canned response or email.
The Tradorax Platform
The Tradorax Platform is proprietary and called TDorax ™ . It is built by a group of “professional” brokers with an entrepreneurial mindset and vast experience in the world of trading. Trading is standard ‘old school’ binary digital contracts with high/low, one touch, boundary and short term options. Expiry for high/low isn’t bad. There are multiple intraday starting with 10 minutes and moving out to end of day, end of tomorrow, next week and next month to the 5th month out on most assets. The asset list is pretty good, not quite as full as SpotOption but everything I saw was trading or scheduled to be open soon. All four categories are present; stocks, indices, commodities and forex. Each categories is flush and what I would call above average; at least a dozen international indices, at least 75 international stocks, 12 commodities including a few pairs and 30 forex pairs.
Deposit And Withdrawal
Banking with this broker is super easy, at least on the way in. Deposits can be made with CC, wires or over 2 dozen internationally accepted web payment services. The minimum deposit is only $25 in the currency of your choice, very low and accessible for anyone who wants to trade. Of course this is the minimum re-deposit after you make the initial $250 they tell you about once you try to sign up. The maximum is unlimited but I’d be careful giving these too much. The minimum withdrawals is $100 and there is 1 free per month, after that it will cost $30 per payment. Withdrawals are made back to the card/account originating the deposit but if you take a bonus you may never have to worry about that.
The company gives an attractive 100% initial deposit bonus for “qualifying” customers. Qualifying of course means you give them real money and they give you some fake money, with strings attached. The bonus terms require 30X turnover of deposit + bonus before withdrawals and say bonuses can not be retracted once given.
Tradorax Is Not Recommended
When first launched we held high hopes for them, they claimed to be here for the traders and offered great terms and payouts. The bad news is that since then they have devolved into the stereotypical scam broker using all the tricks we have come to know and loathe. This broker uses high pressure sales tactics with cold calls and leads generated through marketing programs. The website makes promises of easy riches with little said in the way of caution, what is there is in the fine print. Once you join the bonuses are there to lock in your deposit with onerous turnover rates preventing you from making withdrawals. Trading tips and managed accounts are offered with promises of guaranteed win rates that never pan out. Basically, Tradorax is a money funnel designed to suck your wallet dry.
7 Binary Options
Tradorax has shut down their operations.
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These days binary options traders look to trade with a web broker that makes the sophisticated world of binary options easy for them; that is where the web broker Tradorax comes into play. This web brokerage site is well designed and it reflects the large amount of binary options trading knowledge that is possessed by their design staff. It is a combination that is hard to beat if you want to be successful at binary options trading.
Online since: 2020
− Uses the TechFinancials web platform software
− They have no demo account available
7 Binary Options Rating:
For the purposes of this review it must be noted that we chose to sign up for a silver level trading account. We found that at the silver account level gave us a fairly immersive trading experience that over time would certainly benefit any intermediate level trader. Tradorax gave us all the information we needed at that level to both educate ourselves to improve our binary option trading skills and also provided us with the technical trading assistance that was needed to place winning trades too. The silver account level was exactly as described and we were impressed with all the things a trader had available to them to help them trade successfully.
When placing trades with Tradorax we enjoyed the fact we could place trades for as little as $25 or as much as $1000; it gave us the flexibility we needed to place trades that were dependent on the amount of confidence we had in them and the amount of risk we wanted to take. We were also impressed that we could get a return on investment up to 85% on most of the successful trades we placed. That is as high of a return on investment as you will see on most trading websites
User Account Levels on Tradorax
This web broker does a nice job of supplying its traders with a variety of different trading account levels. There are four different account levels that a user can be assigned to and the level assigned is determined by the amount of the initial deposit. Accounts, or loyalty programs as they are sometimes termed, have different account features that go along with them as the user’s account level increases. Once a deposit is made and the funds are in the account, then the account level is assigned and the investor can start trading.
Tradorax Mini Account
This account level is assigned when the trader deposits between $250 and $499. With this account level a user gets a personal contact once per week with a consultant, beginner trading lessons and a generous account signup bonus (more on that later).
Tradorax Silver account
This account level is assigned when the trader deposits between $500 and $4999. With this account level a user gets a personal contact twice per week with a consultant, beginner and intermediate trading lessons, a 2% increase in return on investment, 0.5% cash back, trading signals and a generous account signup bonus.
Tradorax Gold Account
This account level is assigned when the trader deposits between $5000 and $9999. With this account level a user gets a personal contact three times per week with a consultant, beginner and intermediate trading lessons, a 3% increase in return on investment, 1% cash back, trading signals, 1 risk free trade per month and a generous account signup bonus.
Tradorax VIP Account
This account level is assigned when the trader deposits $10,000 or over. With this account level a user gets a personal contact four times per week with a consultant, full trading lessons access, a 4% increase in return on investment, 2% cash back, trading signals, 2 risk free trades per month and a generous account signup bonus.
Signup Bonuses and Promotions
Not only is there a variety of account levels on Tradorax but there are also such things as sign up bonuses and promotions that will give you extra money to trade with too. Investors who trade with the web broker can get up to a 200% deposit bonus depending on the amount of their initial deposit. There is no limit on the amount of the account opening bonus and they also offer a fair 30 times the initial deposit trading terms before any of the bonus money can be withdrawn.
The bonus money is not the only perk that Tradorax offers their investors; they also do some special promotions from time to time that feature such things as an increased number of risk free trades. Once in a while they will also provide extra free trading signals to various account holders too. Tradorax certainly does a lot to help give their investors a good chance to trade as successfully as possible.
The Tradorax Web Platform
It is a site that uses the award winning TechFinancials trading platform software to help give their investors the edge they need to make successful trades on a consistent basis. Their trading platform is super user friendly and very simple to understand to say the least. Why is TechFinancial’s trading platform software the right choice; that is because It is a trading platform that is very popular among binary options traders and is also very respected throughout the binary options industry.
It is a 100% web based platform too so it does not use up your computer or smart device’s precious memory and performance capabilities nor does it require any type of plugin to use it. The platform enables each investor to use a full windows enabled website that gives you all the information and trading functions that are needed to profit nicely when trading binary options.
The best thing about the Tradorax web platform is that you have your financial asset information, web learning tools and your trading platform easily accessible and all in one place right in front of you. It does such things as provide you with graphs to do asset technical analysis, provides you with a current economic events calendar and it also helps you keep track of your current and past trades. All this is done by navigating through the site with a series of conveniently accessed drop down windows. There are few binary options trading platforms that are as easy to understand and as simple to use as the one on Tradorax.
The trading platform will automatically open up the functions that your account level entitles you to and also lets you access the very well designed learning materials that Tradorax supplies to its investors. Even beginner traders will have no problems getting used to this brokers trading platform.
Tradorax Banking Services
This web broker has some impressive banking features too and this all starts with the low $250 minimum account deposit. That is an initial deposit amount that will open up the world of binary options trading to many people of all different income levels. Their banking procedures are also very straightforward and easily accessed by the convenient drop down menus on the web platform.
After taking the time to fill out the information and opening a free account, the next step is to use the simple banking function tabs to make your initial deposit. It is important to remind you here that the more you deposit the higher signup bonus you are eligible to receive and in turn the more site features you will have access to.
The deposit can be paid using such popular methods as Visa, MasterCard, Bank Wire Transfer, iDeal, WebMoney, POLI, CashU, JCB, Maestro, Diners Club, Alert Pay, Ukash, Paysafe Card, Neteller and Inpay.
Withdrawals are often done using the same method as that which you made your initial deposit with. They can also be done with many of the other methods that are accepted for deposits too. Withdrawals are undertaken using some very strict methods to ensure your sensitive financial data is being kept safe and secure. These usually take 3 – 5 working days to initiate and then show up in your specified account. The minimum withdrawal is $100 in most cases but can go as high as $500 for such withdrawal methods as bank wire transfers; we thought the latter amount was a little bit excessive and it has some higher fees attached to it also.
So what do We Think?
Overall we were more than satisfied with the trading experience that the Tradorax web brokerage site provided us with. They have an excellent variety of learning tools available and a great web platform to trade with. Banking with this broker is easy and the customer support is impressive too. We see absolutely no reason why anyone would not to want to do their binary options trading on Tradorax; because of that, it is definitely a broker that will be placed on our list of recommended binary options trading sites.
Customer Service: Live Chat / Email: [email protected]
With more and more binary options brokers accepting regulation by CySEC, there are fewer binary option brokers that still operate without any regulation. Most of those sites are pretty low in quality. Tradorax is an exception to the rule. It is an unregulated broker based in the Marshall Islands and owned by AM Capital Ltd. Tradorax is not a perfect broker—there is no demo account and you have to jump through hoops to talk to customer service—but the website is sophisticated, the trading platform is comprehensive, and there are a ton of assets to trade.
Getting Started on Tradorax
You can join Tradorax in a matter of minutes. After you create your account, you need to deposit at least $250 to start trading. As the minimum trade size is $25, I suggest that you deposit more than this for reasons of sound money management (you do not want to go betting 10% of your account on all your trades).
Four different account tiers are offered:
All four levels include access to the web platform as well as the Education Center. Note that you only get access to the first two video lessons at the lowest account tier. When you deposit more money, you get access to more lessons. This is a slight drawback over some other brokers, but there are some other great trading tools and features that make up for it.
At the Silver level and higher you get access to trading signals, cash back, and higher return percentages on winning trades. These are all excellent features, and they are not offered by all binary options brokers! Another cool feature at the Gold and VIP levels that you will seldom find offered on other sites is the chance to take a couple of risk-free trades every month. This is a common promotion for new traders, but very few sites offer it as a recurring benefit.
There are great bonuses for signing up too. You can qualify for a match bonus up to 200% (which is huge), as well as five risk-free trades.
Wondering about the withdrawal policy? It is not the best I have seen, but it is far from the worst. Your first withdrawal of the month is always free, after which you need to pay for subsequent withdrawals.
Trading on Tradorax
Tradorax is powered by TechFinancials, not SpotOption as most other sites are. While SpotOption is a nice platform, it is a bit minimalist, and TechFinancials is arguably better in terms of layout and information provided. This makes it easier and more enjoyable to trade on the site.
On that note, while you are browsing Tradorax, you will notice that the site as a whole is much better designed than most. Every page and form loads correctly, links take you where they say they will, and navigation is easy. The actual content on the site is above par. This is not just another recycled white label design. Tradorax has put real time and effort into making a functional trading site and service.
As mentioned previously, the minimum trade size is $25. The maximum trade size is $5,000. This is a much wider range than you will find on most other sites, and will help you out as your bankroll increases. There are 121 different stocks, indices, currencies, and commodities you can invest in. Trade types include High/Low, One Touch, Short Term, and Boundary. Boundary trading is an awesome way to make money in markets that are not particularly volatile. Not nearly enough binary sites offer these trades, so it is excellent you can take them here. You can get out of your trades early or stay in them past the original expiry time using early close, rollover, and double up.
What if you need help at any point while you are trading? Customer service is available through telephone, live chat, web form, email, or paper mail. I did test out the live chat feature. It is only available on weekdays, and appears to be staffed somewhat sporadically.
When I did manage to talk to an agent, my feelings about the experience were mixed. On one hand I was pleased at how quickly an agent staffed the line. On the other it annoyed me that the interface did not tell me whether an agent was on the way or where I was in line. And when the agent did arrive, she refused to answer even simple questions unless I provided a phone number. This seemed like a pretty hard sales tactic. Obviously this would not be an issue once you signed up since you would expect to give your number anyway, but it seemed pushy as I was only investigating.
There are a few things that I dislike about Tradorax and a lot of things I really like:
You can see how even with some criticisms, the advantages of Tradorax seem to outweigh the disadvantages. This is a site that I can recommend, especially for traders seek brokers that provide trading signals. Normally, there is not a big choice in the niche. I do suggest however that you test out customer service and make sure you are happy with the agents before you commit to depositing money in an account.
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