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Tradorax Broker Review
Tradorax is a web based brokerage that is owned by AM Capital Ltd. It has its headquarters in the Marshall Islands, and has been around since the year 2012. Created by an experience group of working professionals, this broker has built a reputation for great customer service, a lovely platform, and for being one of the few brokers that allows traders from the US to work on their firm.
One of the most important mission values of this broker is that they place user experience above everything else, resulting in an easy-to-use friendly trading platform for traders from all over the world. So is trading with Tradorax the way to go? Let’s find out in the review below:
Exciting Features That Leave You Overwhelmed
As the brokers themselves say, this platform was created using top of the line systems to provide excellent customer service. There are over 120 services offered by the broker, and there are very competitive rates for payouts as well.
It is a great thing indeed that all of the software is based on the website of the broker, and doesn’t include a need for downloads of other applications. Free registration without the need for a starting fee is a big perk of this platform as well.
The minimum initial deposit for this broker is $250 or that amount in the currency of choice. If your withdrawal is over $500, you won’t even have to pay a withdrawal charge. There is no spread, and no hidden fees either.
Four basic accounts are made available when you sign up with the broker. As you trade with them, your loyalty to the firm increases and you get to enjoy special features as well. Any funds that you do deposit into your account are always your own property, and you won’t have to pay extra for any of the features. The four accounts are:
- Mini – this allows for the mobile app to be downloaded as well. It gives you access to the useful education center, with a ton of resources, and has access to a personal account manager every week.
- Silver – This has a 2% bonus with every trade that you conduct on the platform, as well as letting you talk to the manager twice every week. You also get special trading lessons (four of them, to be precise), and the benefits of the Mini account as well.
- Gold – With all the benefits of the Silver account, you also enjoy a 3% bonus for every trade that you do, and you get to talk to the account manager thrice a week. 6 trading courses are accessible, and you gain the ability to send out a group of signals. There is also the sweet bonus of being able to conduct one trade every month without risk of loss.
- VIP – This is for the high rollers out there. You get a 4% bonus for each trade you conduct, access to 8 special learning courses, a 2% cashback offer and two trades per month that have no risk at all.
One of the best parts of this platform is that it offers up to 200% in bonuses, if you sign up for their promotional offers, some of which are available all year round. Other promotions include 5 trades without risk and more. The terms of the promotions are easy to understand without too much technical jargon.
Reliability and Trustworthiness
As a trader, you are probably looking for the highest level of licensing and security. While the broker isn’t licensed yet, they do have SSL encryption on all their pages. They also have special insurance for customer deposits so that you don’t run the risk of losing everything to an error.
User Friendly Platform and Software
The TechFinancial platform is the software that Tradorax uses for their trades. It allows one to trade with the High/Low feature, One Touch, the Boundary Options system and Short Term Trading. Typical returns are about 85% of the trade. The boundary option isn’t offered by a lot of traders and is great for the more unstable markets that you see on the graphs.
The minimum trade size for this is $25. When you first access the platform after signing up, you find all of the technical info you need at your fingertips. The page is easy to manage and there is even a live updated economic calendar to take advantage of. Overall, the software is really user friendly and features a nice, smooth responsive design.
Easy Withdrawals for Traders
Almost all major credit cards and debit cards are allowed, as well as global payments systems and wire transfers. Service charges apply if your withdrawal is less than 500 in your selected currency, and are pretty fast.
For the most part, Tradorax is awesome. If it does get licensed, it will be even better. With the amazing customer support and the fast, easy interface, it is one that is recommended to all.