Tradorax is a fairly new binary options and Forex broker owned by Alpha Capital House LTD in London, United Kingdom. Tradorax was established by an experienced group of professional brokers who are retail minded entrepreneurs and experts in the world of financial trading. It offers a 2 in 1 – platform for binary option and Forex trading, fast execution and deposits in five different currencies. It is built on the top of the tech financial platform which is clear and efficient.
Tradorax has been voted #1 in customer service.
Tradorax is not yet regulated but there is quite a lot of legal information that traders can refer to for the broker’s transparency. Funds are kept in segregated accounts and trades are made using secure SSL connections. U.S. traders are accepted.
There are four standard and two special trading accounts. The minimum deposit is $250 and the minimum trade is $25. There are no spreads or commissions and no leverage is offered.
The only differences in the four standard accounts—the Mini, Silver, Gold and VIP—is in the amount of time provided by a personal manager which starts at once a week for the Mini account and goes up to four per week in the VIP account. In addition, there is no cash-back in the Mini account but it goes up to 2% in the VIP account.
There are also a Savings account and a Self-Managed account but there is very little detail about these accounts and they cannot be opened online but must be opened by a broker.
Traders can profit up to 85% on their trades.
Tradorax offers all the standard binary options including one touch, short term and boundary. The above/below option is similar to the high/low option but comes with higher payouts.
The online charts are outstanding in the industry and include a full year of data and can be set to any duration, include bars/candlesticks and have all the standard indicators.
Tradorax offers several partnership options through their affiliate, Tradorax Partners which allows binary options affiliates to benefit from cutting edge marketing and tracking tools, as well as unparalleled service by our experienced Affiliate Managers.
Bonuses can be as high as 200% at Tradorax but 30 times the deposit is needed before the bonus can be withdrawn. At the time of this review the broker was offering a 100% welcome bonus. In addition, each new trader is allowed five risk-free trades and anyone with a VIP account receives free signals.
There is also a refer-a-friend promotion whereby each friend referred to Tradorax who opens an account entitles the referrer to an outstanding bonus. Additional details of this promotion are not discussed.
Online traders at Tradorax have access to a variety of educational tools. Tradorax has created its own library of educational videos including trading guides and both beginners and advanced binary courses that also include the basics of binary option trading, psychology of trading and others.
There is also an economic calendar and a financial glossary.
Funding can be made to accounts via bank transfers, credit cards and a host of online wallets including Neteller, Skrill, CashU, WebMoney, Qiwi and many more. The currency deposited is determined by the deposit currency selected at registration. This parameter is fixed for each user account and cannot be changed after the account was funded for the first time
Withdrawal requests may be made by accessing the banking page from the main menu bar. Withdrawals are made using the same funding method. A $25 fee is charged wire transfers for each withdrawal made.
Traders can contact representatives 24/7 at Tradorax via email or telephone to offices in the United States, Canada, South Africa, Bahrain, Australia, New Zealand, Singapore, Hong Kong and the United Kingdom.
Chat is available during working hours.
The website is available in over 20 different languages.
Tradorax is a user-friendly and simple online platform for binary and Forex trading that is suitable for both experienced and inexperienced traders. The broker presents the wide variety of tools to help traders build effective trading strategies, offers a broad selection of asset choices, trading instruments, favorable payoff ratios, and a fast and simple platform.
- Choice of Different Accounts
- Website in 20 Languages
- No Demo Account
- No Regulation
Review info: Tradorax
Review Date: 2016-05-01
Rating : 5
Reviewed By : Sara Patterson