History and Background
Tradorax is one of the newer breed of binary option brokers that was founded in 2013 by “an experienced group of professional brokers who are retail minded entrepreneurs and experts in the world of financial trading.” Tradorax is owned and operated by AM Capital Ltd, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. This new entrant has become popular due to the ease of use of its operating platform, a derivative of the TechFinancials offering. It also sports a broad array of asset choices, over 120 at this date, including currency pairs, indices, commodities, and stocks. Customer funds are held in segregated accounts and are only used to purchase options at the client’s direction. The firm also adheres to the strictest of regulatory standards, although no regulatory agency currently oversees its operations.
Registration is straightforward, and depositing funds with this company can follow the standard credit/debit card, wire transfer, or alternative payment route. Standard international identity documents are required on the front end, as is the industry norm for compliance with AML statutes. Every attempt is made to explain these requirements on the front end to prevent problems down the line. As for account classifications, there are four to choose from – Mini, Silver, Gold, and VIP. Bonuses and service benefits vary by deposit ranges, including one-on-one training and alerts. If promotional bonuses are accepted, then specific trading volume rules come into play before any withdrawal requests can be honored.
Tradorax offers three basic instruments – the traditional High/Low, Touch/No Touch, and Boundary options, supplemented by the speed of 60-second varieties and the occasional One-Touch high flyer. Payoffs typically range from 70% to 85%, but can vary based on asset and option selected. Rebates for losses are specified for various asset types before an execution order is completed. No complicated downloads are necessary either. Their trading platform is powered by TechFinancials and is supplemented with mobile applications. If you can access the Internet, you can trade with Tradorax. A professional Customer Service group also is available 24X6 via phone, live chat, or email to assist you with any problem, and all sessions are encrypted by 256-bit SSL for your security.
The distinguishing features listed by Tradorax.com website are as follows:
+ Founded by financial professionals committed to serving traders with the best, systems, support, and service;
+ Over 120 asset choices, comprised of currency pairs (33), commodities (11), indices (22), and stocks (57);
+ Highly competitive payoff ratios from 70% to 85%.
+ Rebates for losses, if they apply, are disclosed for specific asset choices before the trade is executed;
+ Market support tools are included in their proprietary trading platform that can be accessed via the Internet without the need for any specialized software, downloads or additional operating systems;
+ Registration is free, and trading can begin with an initial deposit of 250 USD, EUR, or GBP (Other deposit currencies on request, and a 500 minimum applies for a wire transfer to avoid a service charge);
+ No spread, No commissions, No leverage;
+ Four account categories: Mini; Silver; Gold; and, VIP, featuring bonuses (vary from 50% to 200%), education lesson access, and other benefits that vary by account class (VIP class gets free alerts);
+ All customer deposits are segregated and protected by client protection insurance and by compliance with the strictest regulatory standards;
+ Extensive educational materials, including videos, e-books, trading tips and strategy development;
+ Customer service representatives are available 24X6 via live chat, email, and direct phone lines.
The management team at Tradorax decided to use the TechFinancials operating platform, augmented with special features that make it more proprietary than not. Ease of use and easy access to all asset choices on a single screen has been the guiding principle behind its design. A “Sell Early” feature is but one handy tool available on their system. No downloads are necessary, and the latest in 256-bit SSL technology is used to encrypt all trading sessions and the exchange of personal identity information. Mobile applications allow that if you can access the Internet, then you can trade anywhere and at anytime with Tradorax.
Deposits and Withdrawals
As with most firms, major credit and debit cards, bank wire transfers, and the better known global payment providers are supported. Your initial deposits can be 250 USD, EUR, or GBP, although you can check with Customer Service to see if others are supported. Wire transfers below 500 units will incur a service charge. Withdrawal requests are handled rapidly by the Finance Department, but the firm advises clients to have the proper documentation on file to ensure compliance with international law and a quick turnaround for your request.
The customer service team at Tradorax speaks several languages and is eager to make your trading experience a favorable one. Live chat, email, and phone coverage on a global basis are the access methods, supported every trading day 24X6. The website can also be read in German and Russian. Training videos and other educational materials abound, and a personal broker is provided for all account classes, with graduated access to specific lesson media varying from Mini to VIP accounts.
Many new firms have joined the binary option industry in the last year or two. Tradorax is one of those firms that have focused on giving its clients a broad range of asset choices, trading instruments, and competitive payoff ratios. Its trading platform gets rave reviews, and as a small firm, it tries harder to keep your business with ongoing benefits and promotional campaigns. Welcome bonuses tend to be on the high side, a reason for high trading volume requirements before a withdrawal can be made. Tradorax also goes out of its way to ensure the safety of your account deposits through segregation, protective insurance, and regulatory compliance techniques, a prized benefit in this day and age, sure to gain your trust and satisfaction.