If you have been hunting around for a binary options online broker who accepts traders from the USA and offers outstanding features and services, you have finally come to the right place. Tradorax is a website based in the Marshall Islands and operated by a company called AM Capital Ltd. The site is not regulated, but this is not just another white label copycat broker offering just the bare bones of trading. This broker is going above and beyond with top-shelf website design and an advanced trading experience which is accessible to newcomers and veteran traders alike.
Quick Details About Tradorax
- Official Website: https://tradorax.com
- Account currencies: EUR, USD, GBP, JPY, RUB
- Low minimum deposit: $250
- Minimum trade size: $25
- Maximum trade size: $5,000
- Average payout: 85%
- Out-of-money refund: Yes
- Platform: TechFinancials
- USA traders allowed
- Demo account: No
Step 1: Account Creation
If you want to get started on Tradorax, it couldn’t be easier. Look in the upper right-hand corner of the screen and you will see a form you can fill out to open an account. Once you fill in your information and choose your currency, you can agree to the terms and conditions and click the big orange button which reads, “Open Account.”
Step 2: Funding Your Account
Once you have completed the step above, you will be taken to the Deposit page. There you can choose to use your credit or debit card, wire transfer, or Neteller. Note that if you use wire transfer, you need to deposit at least $1,000.
Thankfully that is not the minimum deposit—you can get started with just $250 if you pick one of the other payment methods. If you’re wondering, your first withdrawal of the month is free, after which there is a fee on subsequent withdrawals.
There are four tiers of accounts on Tradorax:
At the Mini level, you get access to the web and mobile platform as well as the Education Center—but only the first couple of lessons. As you move up account tiers, you add in some cool features. More and more educational videos are available at the higher tiers, and starting at the Silver level, you get a higher payout percentage on winning trades. It starts at two percent, and climbs as high as four percent for VIP accounts. You also start earning cash back at the Silver level. At the upper two account tiers, you get risk-free trades every month.
Most sites only offer risk-free trades when you join up—and only if you forego other promotions. This is one of the only sites I have seen that offers them on an ongoing basis as a reward for your loyalty.
In case you are wondering, Tradorax does offer additional promotions for new account holders. Register now and you can get a 200% bonus, five risk-free trades, and VIP signals.
Trading Binary Options on the Tradorax Trading Platform
There are a couple of things that really impress me about Tradorax.
The first is the amazing website design. There is an abundance of information on the site and it is easy to find. On top of that, it just looks better, loads better, and offers so much more than most binary options online sites. The difference is night and day compared to most of the sites I have looked into.
The other thing I like is that Tradorax uses the TechFinancials trading platform. While SpotOption (the most popular platform for binary options online trading) is super easy to use, TechFinancials is just a superior interface, one which has improved steadily over the years. Navigating on the platform is a breeze, and there are so many features I like. When you go to enter the amount and hover your mouse over the input box, for example, the platform tells you what the minimum and maximum trade sizes are.
Types of Binary Trades Offered by Tradorax:
Another great thing about Tradorax is the types of trades which are offered.
High/Low is the most basic type of binary options online—the type that gave binary options online their name. As that name implies, price is either going to go up or down, and it is up to you to figure out which direction. If you get the direction right and price is trading where you predicted when the trade expires, you win the payout.
When you place a One Touch trade, you are predicting that price will reach a particular trigger value before the trade expires, as simple as that. If you are right, you win!
I am personally very fond of this type of trade. If you do not think that price is going to move much within a given expiry period, you define a boundary on either side. If price trades inside that channel, you win the payout. Not many binary options online brokers offer this, and it is an excellent opportunity since you can win big even when there is not a lot of trading volatility. This is something you cannot do trading Forex.
Looking for fast-paced action? Then jump in on one of these Short Term High/Low trades. You can choose from five minutes, two minutes, or just 60 seconds.
Is Tradorax a Good Broker?
Without a doubt, this is an easy one to answer. Tradorax may be unregulated, but that allows the broker to accept USA traders, something that is increasingly rare in a world where most brokers are jumping onboard with CySEC (which prohibits US customers) but are not willing to undergo the rigorous regulatory process set forth by the US CFTC.
Tradorax is clearly setting its own high standards and sticking to them. That is evident in the excellent design of the website, the choice to offer traders the TechFinancials platform, and the numerous excellent features available—trading signals, risk-free trades, higher returns, educational videos, and free training.