There’s just so many brokers these days and if you’re new to the binary options market, it could be very confusing to know which one is good and which are the ones to avoid so when I made this review of uTrader, I already assumed that it’s just one of the same old brands that will fail to impress me but it the end, I was proven to be wrong.
The high investment returns, the fast deposit and withdrawal processing time and the reliable client support are just some of the nice things that I liked about this broker. Not to mention that they are regulated by the Financial Market Relations Regulation Center (FMRRC) in Russia, have been in the business since 2011 and are currently one of the favourites of many traders across different countries got me convinced that this is a broker is worth trading with. If you’d like to know more about my review then please continue reading to get into the finer details.
Demo Account: Replaced by other alternative resources
They may have no demo account but the good news is that they have other resources that can be accessed for free such as videos and an ebook so you can familiarize yourself with the platform features and functions.
Account Types: Start, Silver, Gold, Platinum and VIP
There are five types of accounts (Start, Silver, Gold, Platinum and VIP) which have different perks. The bonuses may range from 50% up to 150% depending on the amount that you deposited. Other benefits include free access to analytical and educational materials, a personal financial analyst, individual review of the trading account with a financial analyst, VIP hedging tools and many more.
Platform: Convenient to use
They are joining the trend of other brokers which are also using the Spot 2.0 platform. It’s completely web-based and runs amazingly fast without any downtime or bugs.
Mobile Trading: Apps for Android and iOS
Trading via tablets and smartphones is possible with their mobile trading apps which are currently available for devices running on Android and iOS operating systems. These mobile applications basically have the same functions as that of the web-based platform.
Tradable Assets: Pick your favourite
They have around 70 assets comprising of indices, commodities, currencies and stocks. It’s on the average range but the good news is that they’ve included those that offer the best trading opportunities.
Minimum Trade: An unconventional size
Placing a Call or Put option would only require a minimum investment size of $20. It’s a little lower than the typical $25 minimum trade size so you can manage your funds more effectively.
Payout Rate: High income
With the classic binary options, you can make profits of up to 85% and much higher at 650% with the One Touch options. By comparison, these rates are much more rewarding than other binary options brokers out there.
This classic Call/Put option type is on the first tab on the platform and is labelled as Binary Options.
You can trade options with short expiry times ranging from 30 to 300 seconds. This is can be found on the second tab which has a label of Turbo Options.
If you prefer trading options with longer contracts or expiry times ranging from a few days to a few months then this instrument is for you.
You can also trade by matching two underlying assets and predicting which one will perform better under this instrument.
This option type is a good choice if you want bigger investment returns but do take note that this also includes bigger risks.
Deposit and Withdrawal
Minimum Deposit: Higher than the average but with better perks
Their $300 minimum deposit requirement may be a little higher than standard but the benefits included actually make up for it so basically your getting much more.
Deposit Methods: Safe and trustworthy transactions
Major payment methods are accepted and this includes major credit card brands (Visa, Visa Electron, MasterCard, Diners, Delta, Solo Maestro and Maestro UK (Switch)), MoneyNet, Skrill, OKPay, Webmoney and Neteller.
Withdrawal Processing Time: Only 2 days to wait
Standard procedures must be followed to be able to make withdrawals. You need to fill-up and sign the Request of Release of Funds form which is a secured protocol to protect their client accounts. Once this has been settled, the withdrawal processing time may take up to 2 days which is still fast if compared to other known brands.
Channels: Major modes of communication
The support department is reachable via phone, email, live chat, Skype and even on social media sites like Facebook and Twitter.
Availability: Always available
They are available 24 hours a day, 7 days a week.
Supported Languages: Major tongues
They currently support English, Russian, French and Indonesian.
Average User Rating: 9.0
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Has all the basic elements
There’s no chance that you’d get confused in using the platform even if you’re a newbie because the layout is pretty simple and all the basic elements are there.
Support: Provides very detailed and immediate answers
The edge of their customer support team is that they provide answers in a timely, clear and no-nonsense way. Ask a question and they will give you an answer without going around the bush.
Reputation: One of the fastest growing brokers in the binary options market
This broker has built a strong reputation since they started business in 2011 and are licensed by the Financial Market Relations Regulation Center in Russia. Aside from these facts, they are also one of the popular choices of many traders including those from Australia, Canada, Russian and Poland.
Editor’s Rating: 90
uTrader has a very fast and responsive platform with a range of excellent features. The variety of trading instruments offers plenty of ways to trade on the financial markets and the corresponding payout rates are highly exceptional. These facts and their years in the business are solid proofs that they can be trusted for trading binary options.