Tradorax Review

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Tradorax Review

Posted on by Patrick Jones

Tradorax is a relatively new broker powered by the Tech Financials software and currently accepting US traders. As opposed to the standard brokers, Tradorax also utilizes Forex trading software, which provides it with an additional advantage over your standard broker.

Update: Tradorax is a SCAM broker – Confirmed Via multiple feedback channels.

 

Trader’s Snapshot:
Minimum Deposit: $250
Accepted Currencies: USD, EUR, GBP, YEN, RUB
Minimum Trade: $5 On 60 Seconds
Accepting US: Yes
Demo Account: No
Forex: Yes (Lite)
Broker Type: Market Maker (Not an ECN and no dealing desk)
Language Support: English (Site is also supported in German and Russian)

 

Security:
This broker provides a completely safe and secure trading environment. The cashier, as well as all the coded transactions are stored with an SSL encryption key. These guys know the business and management has gone to great length in order to protect its clients from various forms of identity theft and/or credit card fraud. For example, one method they employ is to only keep the last 4 digits of the credit card, no one has access to this information other than the credit card company and yourself.

Registration: The registration process is extremely simple and intuitive. There are just a few simple details you would need to fill out and you are on your way to the cashier section of the software. Tradorax Registration

Bonus Structure: They are offering up to 100% on your initial investment, and the higher the deposit amount the bigger the bonus. Please note there are trading requirements it’s 30 times the deposit and bonus for binaries and 50 times for Forex. Please make sure to check the bonus terms and conditions at all times before accepting anything because the rules due tend to change from time to time.

Education: Tradorax offers a broad range of educational tools designed to get you started. It has an extensive video library, trading guides, as well as live chats that are responsive as well as they are informative and professional.

Mobile Trading: There is an android App available, but I don’t see anything for iPhones offered which is kind of a shame. The pages are responsive though, which means you can login through your tablet or Macbook and get a clear resolution. The actual trading software is not responsive though, which means you can register via your cell phone but the actual trading needs to be done via a desktop computer.

Forex Facts
EUR/USD , GBP/USD , USD/JPY  – Spreads (available in pips).
Maximum Leverage: Consult Desk
Minimum Transaction: $10
24hr Trading: Definitely

Fees:
The broker does not charge fees as is always the case with a Market Maker type of contract.

Deposit Methods:
Visa, Mastercard, WireTransfers, Ideal, CashU, Webmoney, Neteller, and Sofort

Islamic Accounts:
Tradorax does not offer Islamic accounts at this time.

Regulation:
I was told a process to get a CySec license is afoot, however until it arrives there is no regulatory framework to conform to.

Asset Index

Currency Pairs
EUR/USD, GBP/USD, EUR/GBP, GBP/JPY, EUR/JPY, USD/JPY, AUD/USD,
USD/CAD, USD/ZAR, USD/TRY, USD/CHF, CAD/JPY, USD/NOK, NZD/USD,
AUD/JPY, USD/RUB GBP/CAD, EUR/TRY, EUR/NOK, EUR/CAD, EUR/ZAR,
AUD/CHF, EUR/AUD, GBP/AUD, NZD/CHF, AUD/NZD, CHF/JPY, GBP/CHF,
CAD/CHF, USD/MXN, AUD/CAD, USD/CNY, BITCOIN/USD

Commodities:
Oil, Gold, Platinum, Gold/EUR, Gold/Silver, Copper, Gold/JPY, Corn, Coffee, Sugar

Stocks:
Barclays, Telefonica, Orange France, Societe General, BBVA, Gazprom, Renault, Sberbank,
Tesco, Vodafone, BP, BNP Paribas, AXA, Royal Dutch, Verizon, Google, Apple, Coca-Cola,
JPMorgan Chase, McDonald’s, Microsoft, Cisco, Intel, Dell, Amazon, Yahoo, Ebay, Pfizer,
IBM, NIKE, EXXON, CITIGROUP, Amex, Baidu, Facebook, Netflix, Priceline, LinkedIn,
Disney, GoldCorp, SilverWheaton, Goldman Sachs, Twitter, Adidas, Alibaba, Deutsche, Bank, Anz, BHP Billiton, Westpac Banking, Rio Tinto,  Sony, Sumitomo, Samsung, ICICI Bank, Tata Motors Ltd, Ferrari, Walmart

Indices:
CAC-40 future, FTSE 100-future, South Africa future, SMI-future, S&P 500-future, DAX-30 FUture, IBEX-Future, TADAWUL, BUX, MICEX, RTSI, Dow Jones 30-Future, Nasdaq, 100-Future, ASX-200 Future, Nikkei 225- Future, Kospi 200, Hang Seng Future, Bombay 30, DUBAI, Qatar Index, Kuwait Index

Conclusions and Recommendations:
Despite the fact that this broker has to undergo regulation, I found it to be one of the more professional ones, especially when it comes to the trading environment and prompt payouts. It employs the standard High/Low, One Touch, Boundary, and Short Term as well as 60 second options. Overall highly recommended for both professional as well as amateur traders just starting out.

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About Patrick Jones

Exposing financial scams since 2015 on a daily basis. Patrick has an academic background in Journalism and a knack for delivering snappy and relevant reviews. View all posts by Patrick Jones →
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