Tradorax is a relatively new binary options broker to enter the market. It is based in London and operated by Alpha Capital House LTD, Temple Fortune London. It is built on the TechFinancials platform and is one of several new brokers out to make a name for itself. Along with a full list of assets and expiries Tradorax comes with extra features for basic and VIP account holders. The Geek’s review will cover platform, deposit, withdrawals, bonuses and extra features.
All traders have access to the full platform, including some of the best charts I’ve seen on any binary broker, VIP’s can get up to 4% extra return on trades as well as bonuses up to 200%. Risk free trades are also available. Social traders will like this one because the expiry match a wide range of trading styles fit for any strategy or signals you are following. Also, the platform is set up for binary and forex trading, an added bonus any way you slice it.
Risk Free Trades
The Geek’s Review Of Tradorax Binary Options
Tradorax is a relatively new broker but so far has distinguished itself as trustworthy. It is based in London, UK and living up to the standard set up by CySEC and the FCA if not fully regulated at this time. It is built on the TechFinancials platform which we already know is one of the top platforms for binary options. It hosts one of the fullest asset lists and Tradorax uses them all. Not only that, they are actually available for trading unlike some brokers who list 100’s of assets but only support a few dozen of them.
The types of trading include standard high/low binary options and above/below. Above/below is just like high/low, except you pick from a choice of set strike prices, similar to ladder and 0-100 options. These are accompanied by One Touch, Boundary and Short Term Options. One Touch/No Touch requires asset price to reach the chosen strike only once during its life and includes a high yield option as well. Boundary requires price to remain inside or outside a chosen range and Short Term is where you find 60 second, 120 second and 5 minute options. Spot forex is also available.
Expiry is top shelf. All the assets have several intraday expiries on top of the short term as well as end of day and longer. The most heavily traded assets have expiry for tomorrow, end of the week, next week, end of the month and out for several months. These include EUR, USD and JPY pairs as well as gold, oil and the top names in stocks.
What really sets this broker apart is the charts. Binary options providers do not have a reputation for providing really great charts, some do but 98% of them suck really bad. Tradorax has partnered with ExorFinance to provide highly advanced charting packages. The charts provide months of historical data, can be viewed in any time frame ie 1 minute, 30 minute or daily bars, can be used with candles or O/H/L/C bars, can be drawn on and include all the standard indicators I care to use.
Banking At Tradorax
Tradorax requires a minimum deposit of $250. The minimum trade amount is $25 which allows even minimum depositors to use money management. There are three levels of accounts after the basis; Silver, Gold and VIP. These command extra features including additional payouts of +1%, +2% and +3%. Professional traders can choose to use the Savings Account or Self Managed Account which offer even more options and flexibility. Typical pay-outs are in the range of 75%-85% for high/low options and goes up for high yielding options. Deposits can be made by credit card, CashU or wires.
Withdrawals can take up to two standard weeks to process and show in your account. This may seem long but is standard for the industry so don’t worry about this. Minimum withdrawals are $100 USD, GBP or EUR and are free for the first one each month. Additional withdrawals cost $30.
A number of bonus features are available as well, standard turnover is 30X deposit + bonus. The basic is 50%-200% of deposit depending on initial deposit amount, check with your account rep. After that there are one time bonuses, risk free trades and even signals for VIP traders. You can not make withdrawals until bonus terms are met so be sure to keep track of them, the website will do so as well.