A Review of UTrader’s Binary Options Brokerage
We have rated the UTrader trading platform based on performance indicators like software, bonuses, options choice, as well as customer support. Ratings are assigned on a scale of 1 to 100. The ratings are as follows:
- » Software: 80/100
- » Bonuses: 85/100
- » Customer Support: 85/100
- » Options Choice: 80/100
UTrader offers its users an efficient, no-frills trading software with a user interface is quite friendly. This enableseasy navigability as well as advanced insight into forex trends and overall market shifts. This is why a score of 80/100 is assigned to the software quality.
Many clients will be quite impressed with the flexibility UTrader offers them regarding asset choices. The company has done a lot on its part to ensure that traders gain access to financial assets across different markets. This gives traders the convenience of trading different assets for increased profitability.
Concerning customer support, UTrader goes all the way to ensure that you get the support services that you expect. The speed with which they process requests is commendable. UTrader provides support 24/7 through various channels such as Skype, email, live chat, and telephone. A score of 85/100 is assigned due to the personal touch given in the course of providing customer support.
Unlike most brokerage companies in the financial space, UTrader is quite generous with its bonus offerings. The bonus offers are structured on initial deposits as well as the category of account selected. This means that the amount a trader gets as bonus increases with an increase in their investment.
If performance is one of your major concerns when looking for a binary options broker, then you may want to read this review further to find out more about UTrader. The company has been offering financial trading services to traders from all parts of the world through its online platform. UTrader has some of the best trading tools and a flexible trading environment. This review investigates the firm’s services in-depth and brings you the right information to enable you to make an informed trading decision.
UTrader is an online binary options trading brokerage company owned and operated by Day Dream Investments Ltd. The firm operates out of the Marshall Islands, a famous tax haven that harbors several financial organizations as well as financial brokerages. Similarly, the company has a presence in Latvia through its regional office located in Riga. UTrader was launched in 2011 and provides binary options trading services to traders.
UTrader offers a wide variety of underlying financial instruments across four major asset classes including commodities, forex currency pairs, indices, and stocks. The assets include:
Las Vegas Sands
Euro Stoxx 50
Dollar Index F.
Bonuses & VIP Programs
UTrader offers bonuses to its clients depending on the initial amount invested and the type of account selected. The company’s bonus offerings begin at 50%, which is made available to Starter account holders. Holders of Silver account are offered 100% match deposit bonus. Gold and Platinum accounts attract 120% bonus, while VIP account holders qualify for 150% bonus. That being said, these bonus offerings can only be withdrawn after a trader has completed a specified number of trades.
UTrader provides a mobile trading platform to allow traders to trade on the go, from any location in the world. The system is flexible and responsive and offers a broad range of features on all mobile devices. Traders who wish to access the platform on their mobile devices can do so by visiting the web-interface on their devices, as UTrader does not offer a dedicated mobile trading app for mobile devices.
Deposits and Withdrawals
UTrader allows traders to conduct transactions on the platform using several methods. Also, traders can maintain an account in any base currency of choice from among the USD, GBP, RUB, and EUR. Remember, you cannot change a base currency once you select it during the account opening process. The methods through which you can deposit and withdraw funds from the UTrader trading platform include:
- » Credit/Debit cards. Traders can perform transactions on the UTrader system using cards issued by MasterCard, VISA, Maestro, Diner’s Club, as well as Delta. UTrader also supports the Skrill prepaid debit card.
- » Bank wire transfer. Traders can conduct transactions through domiciliary bank accounts. The platform also accepts money transfers from MoneyNet.
- » E-Wallets. UTrader allows digital wallets options such as Skrill, Neteller, OKPay, WebMoney, and MoneyNet International.
The system allows a minimum deposit of 200 units of the selected base currency and a minimum withdrawal amount of 25 units of the same currency. Traders can only conduct one free withdrawal each month, as subsequent withdrawals attract a commission fee.
UTrader customer support personnel are happy to help traders with any questions they may have. The company provides customer support services in four different languages, namely: Polish, English, Russian, and German. Traders who wish to contact support can do so through several channels to raise satisfaction levels. The channels are as follows:
- » Live chat. UTrader allows traders to contact support by placing a live chat in any location on the site’s page.
- » Those who wish to contact support via email can do so by sending a message to en@UTrader.com.
- » UTrader provides customer support via Skype using the username “UTrader.com.”
- » Social media. UTrader clients can contact the firm on social networks such as Facebook (www.facebook.com/UTraderEnglish) and Twitter (twitter.com/UTraderEnglish).
- » UTrader provides two dedicated customer care lines through which traders to contact support for assistance. The numbers are: +442080773096 (UK) and +883510008211639 (International).
Extra Features and Resources
Some of the additional features and resources you would find on the UTrader trading platform include:
- » UTrader allows a trader to view the trades and earnings of the platform’s 5 top performing traders.
- » The program features a market sentiment bar that shows whether traders on the platform think that the value of an asset will rise or fall.
- » UTrader offers traders analytical tools, depending on the type of account they operate.
- » Once a trader opens a UTrader trading account, they qualify for several benefits, depending on the account type opened.
- » UTrader allows traders access to educational materials such as eBooks. These tools help equip traders with knowledge of the markets.
- » Economic calendar. UTrader provides traders with an economic calendar that covers all the market-moving releases, allowing you to prepare ahead of time for global announcements that could influence market outcomes.
UTrader is a versatile binary options brokerage firm with a reputation to uphold. The company has raised the bar high regarding software versatility, bonus offerings, and options choice. The trading system is intuitive and responds fast enough to allow you to see the securities you want to trade without a hassle.
Some of the benefits the UTrader trading platform offers users include:
- » UTrader offers a turnkey platform that is simple, straightforward and supports many trade types.
- » UTrader has one of the most effective incentive plans, as it offers generous bonuses across different account types.
- » UTrader works well with certain binary options robots.
- » The company provides multilingual support for clients.
- » The payouts and return on investments are quite competitive.
Some of the aspects of the UTrader trading platform that do not favor the trader include:
- » The broker is presently unregulated.
- » UTrader’s demo account is only accessible by clients who deposit money into their trading accounts.
- » The firm charges commission on withdrawals conducted after the first one in a month.
Some of the frequently asked questions about the UTrader trading system include:
What payment channels does UTrader support?
UTrader allows traders access to three methods of deposit and withdrawals that include wire transfers, credit/debit cards, and e-wallets.
Does UTrader charge commissions on withdrawals?
Yes. UTrader charges 7 units of a trader’s base currency on the second and subsequent withdrawals done in a month. However, the first withdrawal of every month is commission-free.
Is UTrader regulated?
No. UTrader is not a regulated company. Nonetheless, the broker conducts its affairs with as much transparency as any licensed company would.
Is UTrader a scam?
UTrader is not a scam. UTrader is a good broker with an industry-standard mode of operation.