Tradorax Review
In a bid to be seen as a trustworthy option, many of the better binary brokers are registering themselves with the Cypriot based regulator CySEC. Being regulated means they must adhere to strict guidelines ensuring they are offering a genuine service and providing a fair opportunity to profit from their trades. Unfortunately, any broker who is registered with CySEC is unable to provide their services to a US resident. This means that the number of brokers available for US traders is much less than those available to other traders around the world.
Tradorax is a company based in the Marshall Islands who can be contacted via 164 697 7912 or on their website; www.tradorax.com. The firm uses the popular and well laid out Tech Financials platform and, because they are not registered with CySEC, they are able to offer their services to US traders.
In general you should approach any unregistered firm with caution. However, if you study the website of this broker you will find a site which is intuitive to use and free from bugs. The fact that the site runs incredibly smoothly is a testimony to the fact that Tradorax are genuine and are working hard to provide a good trading environment for all their customers. They have a good range of options which include monthly risk free trades for anyone with the higher level accounts; alongside this there is an excellent educational facility and a good rate of return on all the trades undertaken. The general consensus of those who have used their service is of a broker which can be trusted.
Account
The most basic account, the mini, allows you simply to experience trading. As your skills and budget grow you will be able to move up through the silver and gold accounts to the top end VIP, saving and even self-managed accounts. To be eligible to start trading you must put at least $250 in your trade account, although it is worth noting that there is a minimum of $1,000 if you wish to add funds via wire transfer. The minimum trade is a low $25, helping your funds to stretch a little further and you can access your funds once every month for free; if you need to remove funds a second time then there will be a small charge.
Having opened you account you will be pleased to see an impressive array of options; these include your standard high or low price movements, as well as the more complicated approach of boundary trading or even one touch. Trades can be undertaken for as little as one minute, or they can last for several hours; depending upon your confidence in the market.
A real plus is the ability to access your account and trade from your cell phone; this will ensure you are never left out of the picture. Perhaps one of the best of these options is the boundary trades; these work by specifying a high and low level for your asset. During the course of your trade the asset must stay inside the ‘tunnel’ for you to gain a return on your investment. This type of trading is unique to binary options and provides a huge range of additional possibilities.
You can choose to trade in any number of currency pairs, such as the Euro and the US dollar, or British pounds and Japanese yen. Alternatively you can trade in the basic commodities; gold, silver, platinum and oil. All trades operate with the support of regularly updated prices and analytical charts to help you make the right decision. The lowest possible trade is just $25, whilst the higher level is an impressive $5,000; this allows you to make some serious money, providing you get the trade right! To help ensure you make the most successful trades there is a large educational area of the site to ensure you are aware of all the potential strategies and trading techniques. You can also access a good range of trading signals, cash back and high rates of return on your trades. By opting to deposit a higher level of funds you will gain access to as much as two times your initial deposit as bonus funds! Of course, it is important to read the terms and conditions to ensure you are happy with the conditions attached to a bonus. The broker also offers a range of other incentives during the course of the year; which can make a difference to your trading success.
In short, Tradorax is committed to providing a good experience for all its traders and is prepared to offer a little more than most brokers. Their site is well put together and emphasizes the fact that they are a serious business; whilst they may have chosen to remain unregulated, they are able to offer a first class service.
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