Tradorax is a binary options broker that operates under a Gibraltar based company called Alagos Limited. Founded in 2012, they offer more than 120 types of assets in all categories including forex, indices, commodities and stocks.
They are one of the small number of brokers that welcome traders from the United States. They accept traders from all countries around the globe. It support for types of currencies for account including USD, EUR, GBP and JPY.
Trading Platform
Tradorax offers a web based TechFinancials platform that is user friendly and loads very fast. The trading platform supports 4 types of options including high/low, one touch, boundary and short term. The standard high/low platform offers an average payout rate of 85%.
You can easily place a trade by pressing on the High or Low button on the right. There are many trading tools such as graphs, technical analysis, and economic calendar. Tradorax also support a mobile platform that allows you to login into your account and monitor the trading activities.
Types of Trading Account
Tradorax offers 4 types of accounts including Mini, Silver, Gold, and VIP. Mini account has a minimum deposit of $250 – $499 and gives you benefits such as 2 free lessons and 1 call from a personal broker. Silver account is for those whose initial deposit amount is in between $500 – $4999.
It allows you to earn an extra 2% for every trade and enjoy 0.5% cash back for out-of-money trades. You also get 2 calls from the personal broker every week to discuss about any issue you face in trading.
Gold account has a much higher level of deposit requirement of in between $5,000 – $9,999. You get to enjoy 3% of ROI in every trade and 1% cash back plus you will have access to free trading signals. 1 risk free trade and 3 calls from a personal broker every month.
Gold account also include an attractive welcome bonus. The VIP account is for serious traders who want to intend to invest more than $10,000 of funds in binary options trading. The VIP account allows you to earn up to 4% ROI and 2% cash back. On top of that, you will get 7-8 free lessons per week, 4 calls from a personal broker and 2 risk free trades per month.
Deposits/Withdrawals
Traders can use one of three main methods to make a deposit or withdrawal including credit/debit card, bank wire, and CashU. Tradorax also offer other deposit/withdrawal methods including Neteller, CashU, Skrill, WebMoney, and Qiwi. You must deposit a minimum of $250 if you opt to deposit via the credit/debit card or CashU. The minimum deposit is set to $500 if you intend to make a deposit via the bank wire. You will also get charged with a $25 fee if you use bank wire to deposit or withdraw funds.
Tradorax takes 5 days to process your withdrawal request after you have submitted it from your account. Once they have approved your withdrawal request, it can take anywhere in between 5 – 10 days to see the funds on your account. You must get your account verified before submitting a withdrawal request.
Safe and Secure
Tradorax has enhanced its site with many security features such as 256 bit SSL, True Identity seal, McAfee (Hacker Safe) and SSL encrypted servers. Every transaction that is carried out on the site will be handled by Level 1 PCI providers so you can be assured that you are trading in a safe account.
Education Center
Tradorax has a video library where you can find free tutorial videos on a variety of basic trading topics that will get you prepared in binary options trading. The trading psychology tutorial will help you to have to right mindset and not let emotions get hold of you during trading. The trading guide PDF guide offers a comprehensive guide on all the important features in the trading platform.
Customer Support
Tradorax offer 24/6 customer support via Skype, email, telephone, and live chat. You can contact the customer support by using the online email contact form or send an email directly to its email address. Tradorax offers telephone support for 9 countries including USA, UK, Canada, New Zealand, South Africa, Bahrain, Hong Kong, Singapore, and Australia.
Is Tradorax a good broker?
In conclusion, Tradorax is a good broker because they offer a lot of learning materials to help traders get started with binary options trading. Their customer support is responsive and it is also very easy to perform a deposit/withdrawal.
