TropicalTrade Broker Review

Tropical Trade LogoThere are many clients who would like to deal with a trustworthy binary service, so we help them to make the difference between a top broker and a beginner service. TropicalTrade guarantees great returns and an outstanding customer support that can please all the clients who want to trade.

TropicalTrade is considered a reliable broker by our team of researchers. Accordingly, we can recommend our readers to start trading with this broker if they are looking for a new interesting trading platform. It is true that this broker is not licensed. However, it is not a reason to discard this broker completely, only that it has to be further researched.

TropicalTrade is operated by FLY Ltd, Stoney Ground, Kingston, VC0100 St. Vincent and the Grenadines. Their site is operated by FLY Ltd, and payment services by Cumberland Capital Ltd.

Basic information:

Online since: 2015
Software: Panda TS
Max Returns: 85%
Minimum Deposit: $200
Bonus: 100%
Minimum Investment: $5
Maximum Investment: $5000
Currencies: USD, EUR, GBP, AUD or CAD
Mobile: No
Countries: All Countries

Pros:

– Relatively low minimum deposit
– Great customer support
– Welcome bonus

Cons:

– No demo account
– No mobile trading

Binary Minery Rating:

4,5 stars

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TropicalTrade Special features

There are more account types available with TropicalTrade, which can be attractive for both beginners and experienced traders. However, while doing our research, we observed that the broker does not show sufficient details about all the features available with each account type.

Obviously, it would be more beneficial for the clients to have all the information on the official page because the broker has a separate page for the account types. The customer service that we contacted claimed that only they are responsible for the bonus of each account type, hinting to the fact that the clients should always consider collaborating with them.

So, here are the broker’s account types:

BASIC ACCOUNT

  • Minimum Deposit – $200
  • 20% welcome bonus
  • Junior broker available
  • Education Center package #1

PRO ACCOUNT

  • Minimum Deposit – $2,500
  • 35% welcome bonus
  • Senior broker
  • Education Center packages #1 and 2
  • 1 hour of individual basic training session
  • Basic trading signals

GOLD ACCOUNT

  • Minimum Deposit – $6,500
  • 70% welcome bonus
  • Executive broker
  • 3 risk-free trades
  • 3 hours of advanced training sessions
  • Education Center Packages #1-3
  • Basic trading signals

VIP ACCOUNT

  • Minimum Deposit – $50,000
  • 50% welcome bonus
  • Executive broker + analyst
  • 5 risk-free trades
  • Unlimited access to all Education Center packages
  • 7 hours of individual training sessions
  • Personalized trading signals

CORPORATE ACCOUNT

  • Minimum Deposit – $100,000
  • 30% welcome bonus
  • Corporate broker + analyst
  • 10 risk-free trades
  • Unlimited access to all Education Center packages
  • Unlimited analyst training sessions
  • Personalized trading signals

It is worth mentioning that the broker, even if it is new on the market, has some accounts that require very high deposits, so it is natural that the clients would like to know more about what they can get if they deposit $50,000. Anyway, the minimum deposit for a basic account type is $200, which is an average figure in the industry.

TropicalTrade Trading software

TropicalTrade does not have its own platform. It uses the Panda trading platform, which is a new system that gains popularity due to its simplicity and great built-in features. This procedure of using a readymade platform is actually a common approach for many top brokers.

The Panda system is quite intuitive and user-friendly, which is so crucial in the expanding industry of binary options. It is weird that the broker does not have a mobile application, but maybe it’s because the broker is new and the mobile version is in progress. There must be a mobile app in the future because mobile trading is growing at an incredible speed.

The webpage is also easy to browse and the client will find the main categories on the home page.

Once the client makes a deposit, he has the chance to trade traditional CALL/PUT options, one touch, range, and turbo options, which they call hyper-options.

Here is the asset list that you can choose from:

  • 36 Forex pairs, such as EUR/USD, GBP/USD, EUR/JPY. Also, there are BitCoin related pairs which can be traded 24/7.
  • 22 stocks, such as Apple, Yahoo, Facebook, Exxon, Daimler, and more.
  • 7 stock indexes – CAC, DAX, DFM, DOW, NASDAQ, S&P, and FTSE.
  • 4 commodities – gold, silver, copper and oil.

It is actually a basic list of assets, which can be decent for beginners.

Screenshot

tropical-trade-screenshot

TropicalTrade Customer Support

Prior to discussing the customer support service of this broker, we have to mention a very significant drawback – the website of the broker is available only in English. While English is an international language and there are many people who can understand it, the broker should definitely include other languages if they pretend to be a top service. German, Spanish, French, or Italian, are also important languages to consider.

The customer service can be contacted by using the online chat directly from the broker’s site and by phone. There are phone numbers for US, UK and Australian clients:

  • US – NEW YORK +1-347-783-5462
  • UK – LONDON +44-20-3519-3856
  • Australia – SYDNEY +61-2-8599-2812

The live chat is also a great option. Their agents work really fast and are quite responsive. They will answer any of your questions related to the broker’s features and binary trading in general.

The site has also a separate education section where you can learn the basic info about binary trading and about the broker’s platform. The TropicalTrade Academy has a generous list of ebooks, trading signals, video materials, and a detailed glossary. Don’t forget to click the FAQ section as well!

TropicalTrade Banking

Many people think that internet payments and transaction are not so reliable. However, there are specific security measures that make this process look safe. Prior to making any withdrawal, the client will be required to show the picture of some of his ID documents.

TropicalTrade offers more payment methods for carrying out deposits and withdrawals. One can use credit/debit cards (Delta, Diners, MasterCard, Visa, Visa electron), bank wire transfer, and e-wallets, the latter being the fastest ones.

The great thing about this broker is that their minimum withdrawal is $1, and the minimum deposit is $200, as mentioned above. There is a $25 fee for the bank wire transfer, which has nothing to do with the broker. In rest, the payments are free. The cash-out time can reach up to 5 days.

Additional information

Customer Service: Live Chat, Phone, Contact Form, E-mail
Languages: English
Trading Options: Binary, Ladder, Pair,  Long Term, 60 seconds, One Touch, Spot Follow, Builder
Assets: Currencies, Stocks, Indices, and Commodities
Expiry Times: 30 seconds60 seconds, 2 minutes, 5 minutes, 15 minutes, End-of-day, End-of-month
Deposit and Withdrawal: Visa, MasterCard, Wire
Withdrawal Time: up to 5 days
Demo account: No

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TropicalTrade Articles:

TropicalTrade Bonus

References/Further Reading:

  1. Evolution of a Hybrid Fracture/Gravel-Pack Completion: Monopod Platform, Trading Bay Field (D.M. Grubert)
  2. Trading futures markets based on signals from a neural network (Lonnie Hamm & B. Wade Brorsen)
  3. Dynamic Ridge Polynomial Neural Network: Forecasting the univariate non-stationary and stationary trading signals (Rozaida Ghazalia, Abir Jaafar Hussainb, Panos Liatsis)
  4. A model of reserves, bank runs, and deposit insurance (John Bryant )
  5. Regression neural network for error correction in foreign exchange forecasting and trading  (An-Sing Chena, , Mark T. Leung)
  6. Order submission strategies, liquidity supply, and trading in pennies on the New York Stock Exchange (Jeffrey Bacidorea, Robert H. Battaliob, Robert H. Jennings)
  7. The European Emissions Trading Scheme: An exploratory study of how companies learn to account for carbon ( Anita Engels)
  8. Investor Competence, Trading Frequency, and Home Bias (John R. Graham, Campbell R. Harvey, Hai Huang)
  9. An examination of own account trading by dual traders in futures markets (Sugato Chakravarty, Kai Li)
  10. Order management system and method for electronic securities trading (Bevan Brookfield, Stuart Townsend)
  11. ‘Informed’ Limit Order Trading (Amber Anand, Terrence F. Martell)
  12. System and method for multiple account single security trading (Matthew Biondi, Robert S. Coira, Joel D. Derstine, Christopher Panzica, Michael J. Kent, Theresa M. McNamara, Ann Kathleen Harding-Hesse)
  13. Participation Costs, Trend Chasing, and Volatility of Stock Prices (Gerhard O. Orosel)
  14. A trust brokering system and its application to resource management in public-resource grids ( F. Azzedin ; Muthucumaru Maheswaran)
  15. Exchange rate variability and the flow of international trade  (Tony Caporale∗, Khosrow Doroodian)
  16. Parallel Trading by Institutional Investors (Alan Kraus and Hans R. Stoll)
  17. Institutional Holdings and Trading Volume Reactions to Quarterly Earnings Announcements (Jeong-Bon Kim, Itzhak Krinsky, Jason Lee)
  18. Customer voluntary performance: Customers as partners in service delivery  (Lance A. Bettencourt)
  19.  Customer adoption of e‐service: an experimental study (Ko de Ruyter, Martin Wetzels, Mirella Kleijnen)
  20. Redesigning the Customer Support Process for the Electronic Economy: Insights from Storage Dimensions (Omar A. El Sawy and Gene Bowles)
Binary Minery Review: TropicalTrade: 4,5 stars.