In only a few years, Tradorax has made quite a name for itself. Its positive reputation gives a holistic view of how its near-complete package of versatile features benefits the trading activity of traders with differing skill levels.
There are no perfect brokers, and Tradorax is yet another testament of that fact. Still, its numerous plus points relegate the few subtle drawbacks of using Tradorax.
Crowning the list of desirable features on Tradorax is its easy-to-use site. Important information is easily accessible and you could start registration right from the home page.
Tradorax opens its doors to users from virtually all countries around the world, including the US. You could maintain your account in any of five currencies—US dollar, British pound, Euro, Japanese yen, or Russian Ruble.
Tradorax takes the safe option by using the renowned Tech Financials platform, famed for its usability and versatility. Several other reputable brokers use the platform that easily edges the in-house, proprietary platforms from competing brokers.
The platform is 100% web-based. You do not have to make any downloads, neither do you need some ‘special’ plugin requirement. All you need is a web browser and a decent internet connection.
Using the platform is a cinch. The variety of trading options is diverse. They include the traditional High/Low option, the One Touch, 60 second, long-term, boundary, and ladder options.
The Tradorax platform is a hybrid platform that allows you to engage in both FX and Binary Options trading.
In addition, you can keep you with your up-to-date asset information, learning tools, accurate economic events calendar, and graphs for in-depth technical analysis.
Tradorax caters to traders of different means. They provide a starting low-entry account type with decent features for traders starting out.
Supplementing this entry-level account type are several graded account types that provide more perks with higher deposit requirements. For the elite traders, a self-managed account type is available.
The account types include:
- Mini Account
Deposit range: $250 to $499
Number of personal contacts with consultant per week: ONE (1)
- Silver Account
Deposit range: $500 to $4,999
Number of personal contacts with consultant per week: TWO (2)
Percentage increase in payout rate: 2%
Return rate: 0.5%
- Gold Account
Deposit range: $5,000 to $9,999
Number of personal contacts with consultant per week: THREE (3)
Percentage increase in payout rate: 3%
Return rate: 1%
Number of risk free trades per month: ONE (1)
- VIP Account
Deposit range: $10,000+
Number of personal contacts with consultant per week: FOUR (4)
Percentage increase in payout rate: 4%
Return rate: 2%
Number of risk free trades per month: TWO (2)
Assets, Expiry Time, and Payout
Tradorax offers assets that cut across the four major asset classes—currencies, stocks, indices, and commodities. The asset list is expanding continuously and currently stands at over 120 assets.
Multiple contracts for these assets are available daily with varying expiry time. The expiry times range from as short as 60 seconds to as high as several months. This makes Tradorax well suited for traders with different trading strategies (whether short term or long term).
Payout rate for these contracts all varies and goes as high as 85%.
Deposit and Withdrawal
Supporting a long list of countries comes with the pressure of offering diverse payment methods. Tradorax does not falter on this end, with an equally long list of payment options. The most common amongst them are credit cards, wire transfer, Skrill (formerly MoneyBookers), NETELLER, WebMoney, Qiwi, and paysafecard (formerly CashU).
The minimum deposit to open an account is $250 or 250 units of the base currency of your trading account. Tradorax offers bonuses on deposits. These bonuses range from 50% to as high as 200%. The minimum amount you can invest on a contract is $25.
Although withdrawal fees are not existent for all withdrawal payment methods except wire transfer, the duration of processing withdrawals could be shorter. It is worth paying mind to this going forward. Furthermore, verification is necessary before your withdrawal is processed.
Customer Care Service
You can get across to the customer service department of Tradorax through Live Chat, Phone (7 dedicated national numbers are available), or via direct mail; and receive timely, helpful response to your queries.
- Mobile app for trading on the go
- Site is available in German and Russian
- Plenty of informational and educational resources—collaboration with Reuters and Yahoo for updates news feed; and video library, webinars, trading guide, and glossary for improving your trading skillset