Tradorax Broker Review

Tradorax_logoEstablished in 2014, Tradorax is a binary options trading platform brand that is owned by TDorax. However, the trading platform is managed by a separate company called BetaTech Ltd. Thier office is located at #49 Patriarch Evtimii blvd, Prestige Business Center, 1463 Sofia, Bulgaria. This broker is currently one of the few rare binary options brokers that is still accepting U.S clients.

Basic information:

Online since: 2014
Software: TechFinancials
Max Returns: 85%
Minimum Deposit: $250
Bonus: 100%
Minimum Investment: $25
Maximum Investment: $15,000
Currencies: USD, EUR, GBP
Mobile: Yes
Countries: All Countries

Pros:

– a lot of options for withdrawals and deposits
– many user-friendly features and tools
– mobile trading available

Cons:

– doesn’t offer a demo account

Binary Minery Rating:

4,5 stars

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Tradorax Special Features

Tradorax has a lot to offer their traders. For example, with their current promotion, they are offering bonuses of up to 200%, the highest bonus level ever offered by any binary options broker. Another interesting feature which makes Tradorax really stand out is the trading charts. Their charts show price details with a time frame of up to a year. This level of detail is more than what any other binary options brokers are offering on their trading platform.

As for trading accounts, Tradoax offers a choice of 4 different types of trading accounts. Traders can choose from a Mini trading account, a silver trading account, a gold trading account and a VIP trading account.

  • Mini Trading Account

Access to both web and mobile trading platforms

Weekly consultation with personal broker

Full access to education center

  • Silver Trading Account

All the benefits of the mini trading account

Additional 2% returns on investments

Twice weekly consultation with personal broker

0.5% Cash Back

  • Gold Trading Account

Include the benefits of the Silver trading account

3% additional returns on investment

3x a week consultations with personal broker

1% Cash Back

1 Risk Free Trade

  • VIP Trading Account

Include benefits of Gold trading account

4x week consultations with personal broker

4% additional returns on investments

2 Risk-Free Trades

Take note that the minimum deposit requirement to open a live trading account at Tradorax is $250. Tradorax also recently added 2 new types of accounts, Saving Account and Self Managed Account. However, details about these new accounts are sketchy and you need to get in touch with a customer representative for more details.

Tradorax Trading software

For the trading platform, Tradorax uses the TechFinancials powered trading platform. The platform is the improved second generation platform that allows you to trade spot forex and CFDs on the same platform. This addition of spot forex trading capability is a bonus especially to traders who are not just interested in trading binary options but spot forex and CFDs.

Apart from the ability to trade spot forex and CFDs, the platform also lets you trade binary options with 4 different types of option contracts. Supported option types include the classic high/low options, short term options, one touch options and boundary options. As for the available expiry times for the options, they range from 60 seconds to up to 6 months.

Although Tradorax does not have as many option types as what some brokers are offering, they more than make up for this deficiency with their trading advanced charts. The trading charts offered by Tradorax is probably the most advanced charts around for a binary options trading platform. Not only do the charts cover prices for up to a year, they also come with various popular technical indicators and charting tools that you normally find on the MetaTrader 4 trading platform.

In addition to being an efficient and robust trading platform, the platform is also mobile capable. All you have to do is to download the trading apps for the trading platform from Google Play Store or Apple’s App Store.

Screenshot

CherryTrade - screenshot

Tradorax Support information

In terms of the support services provided by Tradorax, the support team is reachable through email, live chat, Skype and telephone. Depending on which countries that you are residing at, they also provide several localized support numbers for you to call. This is certainly beneficial as it helps to reduce one’s telephone charges when you are requesting for assistance over the phone.

Tradorax Banking Info

When it comes to funding your trading account, Tradorax has helped to make it effortless with their numerous deposit methods. They understand that their traders come from diverse backgrounds and from different parts of the world where the banking facilities can rather be limited.

As for depositing funds into your trading account, Tradorax supports popular credit and debit cards such as VISA, MasterCard, Diners Club, JCB and Maestro. They also accept deposits conducted through web wallets such as iDeal, WebMoney, POLI, CashU, Alert Pay, Ukash, Paysafe Card, QIWI and Inpay. Recently, they also added Neteller and Skrill Moneybookers to their list of supported web wallets.

For credit card withdrawals, the amount is limited to the original amount that was deposited with the credit card. Any amount which is in excess of the permitted amount is then transferred through bank wire transfer. Take note that bank wire withdrawals will incur a service fee of $25 and may require up to 15 days for the money to be fully paid out.

Tradorax provide their traders with one free withdrawal per month. Subsequent withdrawal requests within the same calendar month will be subjected to a service fee of $30. Tradorax also requirethe minimum amount to be withdrawn be at least $100.

Tradorax Company Info

Established in 2014, Tradorax is a relatively new binary options broker. The platform was previously owned by a Marshall Islands based holding company called AM Capital Ltd. Today, the platform is owned by a separate holding company called TDorax. However, the company which manages the trading platform is still the same Bulgarian-based company called BetaTech Ltd.

Additional information

Customer Service: Email: support@tradorax.com, compliance@tradorax.com, info@tradorax.com /Live Chat / Fax: + 442033181685A /Support Numbers: +16469346204 (U.S), +442038687870 (UK), + 16472475691 (Canada), + 6442807276 (N.Z), +27105947064 (South Africa), +85258080099 (HK), +6531588541 (SG)
Languages: English, Arabic
Trading Options: High / Low, One Touch, Boundary, Short Term
Assets: Currencies, Stocks Indices, Commodities
Expiry Times: 60 seconds to 6 months
Deposits and Withdrawals: Visa, Mastercard, Bank Wire, iDeal, POLI, CashU, Diners Club, JCB, Maestro, Alert Pay, Ukash, WebMoney, Paysafe Card, Inpay, Neteller, Skril, QIWI
Withdrawal Time: 3-5 days
Demo account: No

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References/Further Reading:

  1. Mobile trading card redemption (Kenneth Jones, Peter Fuller, Brian Kathman)
  2. A Mobile Trading Scheme for Digital Content Based on Digital Rights (Chia-Chen Lin ;  Po-Hsuan Chiang)
  3. Organisational usability of mobile computing—Volatility and control in mobile foreign exchange trading  (Carsten Sørensen, , E-mail the corresponding author, Adel Al-Taitoon)
  4. Are Professional Traders Too Slow to Realize Their Losses? (Ryan Garvey and Anthony Murphy)
  5. Turnover, account value and diversification of real traders: evidence of collective portfolio optimizing behavior (David Morton de Lachapelle, Damien Challet)
  6. The Profitability of Active Stock Traders   (Ryan Garvey, Anthony Murphy )
  7. International trade and firm performance: a survey of empirical studies since 2006 (Joachim Wagner)
  8. Economic Forecast Evaluation: Profits Versus the Conventional Error Measures (Gordon Leitch and J. Ernest Tanner)
  9. Inter-company comparison using modified TOPSIS with objective weights  (Hepu Deng, Chung-Hsing Yeh, Robert J. Willis)
  10. Specialist Gross Trading Revenues at the New York Stock Exchange  (George Sofianos)
  11. Pseudo-commodities interactive futures trading game (Michael A. Vinarsky)
  12. The Use of Bank Trading Risk Models for Regulatory Capital Purposes  (Paul H. Kupiec, James M. O’Brien)
  13. System for trading and hedging product and brand sales (Alfred Mukunya, Ajit Kumar)
  14. Effect of Federal Regulation on Distribution of and Trading in Securities
  15. The Determinants of Pre- and Postpromotion Dips in Sales of Frequently Purchased Goods (Sandrine Macé)
  16. Efficiency and effectiveness of promotion systems for electricity generation from renewable energy sources – Lessons from EU countries  (Reinhard Haas, Gustav Rescha, Christian Panzera, Sebastian Buscha, Mario Ragwitzb, Anne Held)
  17. Economic impacts from the promotion of renewable energy technologies: The German experience (Manuel Frondel, Nolan Ritter, Christoph M. Schmidt1, Colin Vance)
  18. Emissions Trading and Promotion of Renewable Energy: We Need Both(Claudia Kemfert, Jochen Diekmann)
  19. The World Trading System: Law and Policy of International Economic Relations (John Howard Jackson)
  20. The Political Economy of the World Trading System: The WTO and Beyond (Bernard M. Hoekman, Michel M. Kostecki)

Binary Minery review: Tradorax : 4,5 stars