|Accept US traders||Yes|
|Normalized profit||71% to 81%; Refund of up to 0-15%|
|Trading assets||Stocks, Currencies, Commodities, Indices|
|Minimum Deposit||200 $/€/|
|Min. Trade size||$5 for 60 Second option
$10 other options
$25 Option Builder
|Trading Currency||USD, EUR, GBP, AUD, CAD, and JPY|
|Deposit Methods||Credit Card, Wire Transfer, Moneybookers, Skrill|
|Withdrawal methods||Credit Card, Wire Transfer, Moneybookers, Skrill|
|Platform Special features||High/Low, One Touch, , 60 Second Options, Option Builder, OptionPro|
- Highly Intuitive Trading Platform
- Diverse Asset List
- High Welcome Bonus
- Low Minimum Deposit
- Low Trade Requirement
- Mobile Trading Platform Supported
- Good Customer Support
- Fast Withdrawal Process
- Not Regulated
- No Demo Account
I’ve been hearing a lot of things about TradeRush. Some of it border on the negative aspects, while some are just so-so comments. There were also glowing reviews. I’ve even asked my friends about it and asked them to hash it out socially, with intentions that I will get honest comments from the Netizens on cyberspace. However, I didn’t have inkling as to which of these were true, and which ones were meant to pull the broker down. I figured there was only one way to find out. And that is, to become a TradeRush customer and try out its trading platform. Here’s what I’ve found out so far.
There’s no regulation or licensing. This should have brought up red flags already. I guess I share the sentiments of most traders when they have misgivings about it not being governed by a regulatory body. This platform was launched way back in 2011 and there have been many brokers popping up here and there just recently but are already regulated, so what’s stopping TradeRush from doing the same? I figured I could look past this for the moment and find other redeemable qualities. And so I go on…
TradeRush uses the SpotOption platform, which is a trading engine licensed by the Cyprus Securities and Exchange Commission (CySEC). With SpotOption being a CySEC-regulated Cyprus Investment Firm (CIF) specializing in financial service, this means that TradeRush brings all of the SpotOption features on the table: a high level of support for lawful enforcement of CySEC rules and regulation, as well as a safe trading environment. Whew, regulation issues addressed!
The first thing that jumps out about the platform is its sheer simplicity. And the fact that the trading platform is right there on the homepage speaks of what TradeRush is, pure business and ready to trade. The list of assets are conveniently tabbed and categorized into commodities, currencies, indices and stocks. You will also find the different Options in a very simple layout, giving the impression that it is very well-put together designed to avoid clicking on unnecessary links.
In addition, abundant resources and information are close by via the Yahoo Finance news feed at the right side bar. There is also a link to the Live Chat helpline, which I found extremely helpful especially when I had a question while trading. It saved me time from going out of the trading page and looking for the link to customer service. It meant that I have a clear view of my trade while chatting with a representative. It helps to know that there will be someone at the sides ready to assist anytime.
The trading page also allowed customization, from the “Pro” view (as above) compared with the “Fast” view, in table form below. This is quite uncommon and it didn’t do much difference for me as both view modes were as structured and organized as the other. Nevertheless, those who prefer different views would appreciate it as much.
The Trading Platform
Similar to what we commonly see in other trading platforms, TradeRush offers an equally simple platform to use. Clearly defined tabs for the following trade types allows for the ability to trade on the most current contract opportunities. In testing the different option types, each one was very intuitive to use.
The Call/Put option is the most popular and simple of all, with returns from 65% up to 81%.
The OptionBuilder allows traders decide on the expiry time that suits them. The payout is anywhere between 65% to 80%. Notice that there is a drop down menu to choose the Expiry Time (in GMT). This way, traders can manage risks to a certain degree.
The 60 Second option is ideal for those who are looking to make a quick profit. In essence, it operates on the same principle as the Call/Put option, only that it expires in just 60 seconds. The payout ratio is up to 81%.
The One Touch option is available over the weekend even when the markets are closed. In here, you set the target price and with a good price prediction, it offers a return of up to 500%! Note that the maximum trade size for this option is $1000, which is slightly lower than the standard maximum amount of other trade types.
The OptionPro allows for setting a variable expiry time that permits traders to close trades before the expiry. This option is equipped with a trading chart enabling you to view the current status of your chosen asset. The payout will depend on how much time was left before the trade closed.
TradeRush offers high returns of up to 81% for a diverse asset list. This is a notable factor that contributes to its growth in market share at an unparalleled rate. And if that were not enough, out-of-the-money trades still entitles you to a refund of up to 15% of your initial investment amount.
What Sets TradeRush Apart?
There are many clever features that set TradeRush apart from other brokers. For one, you are reminded of how much time is left till expiry, a feature absent from other trading platforms. You will see how much longer you have to wait, or execute your trades, by looking just above the payout percentage of the trading box.
Here are two features that clearly make TradeRush stands out from the rest:
- Rollover Feature
This allows extending the expiry, which essentially buys you more time if you think that your trade is not performing as well as you expected it to.
- Double Up Feature
When trades are going according to plan (that is to expire in-the-money!), the Double Up feature is used to recreate the same trading conditions as that of the initial trade. This allows for doubling of potential profits.
Aside from these two exciting features, TradeRush deserve some serious consideration for the following reasons:
- Mobile Trading
Each of the trade types is available via the TradeRush mobile app. You can download applications for your iPhone and Android mobile devices.
- Bonuses and Promotions
TradeRush offers competitive and high Welcome bonuses. If you fund your account anywhere from $200 to $1,000 you are eligible to get a bonus of up to 30%. If it’s anywhere up to $5,000, you qualify for a 50% bonus. Here is a summary of the different account types and the bonuses you will get with your deposit amounts:
TradeRush Trading Tools
I was very disappointed that TradeRush does not offer a demo account at this time. In its place is a quick 2.5 minute video tutorial highlighting its features and how the platform works.
Despite the absence of a free demo account, we found TradeRush very easy to work with. A no-cost eBook with information on how to trade binary options, charts and graphs within the platform, and the live news feed from Yahoo! are very useful features designed to keep you up-to-date.
And that’s not all, market analysis service is sent out to members via email. Although I did not see any in-depth technical analysis, receiving economic indicators and a quick snapshot of what’s been happening in the markets definitely gave me a shot at executing successful trades.
TradeRush boasts of a diverse range of underlying assets available for trading, encompassing the four asset classes of Stocks, Currencies, Commodities and Indices:
- 44 Stocks
- 25 Currency Pairs
- 10 Commodities
- 28 Indices
Banking: Deposits and Withdrawals
Opening an account with TradeRush is completely free. However, to start trading there is a minimum deposit of $200. The accepted methods for depositing funds into a trading account are via major credit cards, wire transfer, MoneyBookers and Liberty Reserve. Each of these methods may also be used to withdraw your funds. All of these payment processors are secured, so I didn’t have to worry about the integrity of my account being compromised.
Aside from the USD and EUR denominations, the other currencies that can be used for trading are AUD, CAD, GBP and JPY. It’s very important to remember that once the currency type used to make the first deposit is set, it cannot be changed.
Talking about maximum deposit amounts, it will depend on the method used. There are no limits or maximum amounts for deposits made via bank wire deposits or Liberty Reserve. However, if you will be using a credit card the limit is at $10,000. For MoneyBookers, the amount is set at $5,000.
There is a one-time withdrawal fee of $30 per month. I find this is fair considering that most brokers require the same amount to process withdrawals. The minimum withdrawal amount of $30 is set for credit cards, MoneyBookers and Liberty Reserve. I find this acceptable because compared to other platforms this is extremely low. If a bank wire transfer will be used, the minimum withdrawal amount is $100.
It normally takes up to 2 days for the withdrawal request to be processed. However, since I used a credit card to fund my trading account, it only took a 24-hour processing time to withdraw my funds via the same method.
I tried Live Chat with a representative named Mary. It only took a few seconds before she came online to answer my query. I asked her the proverbial question that seems to be on everyone’s minds these days: regulation. When asked, she mentioned that TradeRush application is being processed already. This is good news to me. But, when I asked specifically about CySEC regulation, she didn’t know. Although she was pleasant to chat with, I felt that this is one piece of information that should have a ready answer. She gave me an immediate feedback, though. I didn’t wait a long time for the piece of information that I already know.
At the moment, the only language support offered is English, although there are also international numbers that traders located elsewhere may call: in Australia, Canada, France, Japan, UAE, UK and the US. Aside from Live Chat, email correspondence may be sent to Support@TradeRush.com. The availability of different channels of communication is a reflection of a company’s commitment to take customer issues seriously. I appreciate that TradeRush has taken different means to establish contact with their customers.
A Final Word
I haven’t found any binary options scam reports enough to make me look the other way. It seems that TradeRush is able to maintain a clean record. If there are negative comments that get thrown in every now and then, the positive experience I got from using the site greatly outweighs the not-so-good ones.
Overall, I find the TradeRush experience a worthy one. It has a solid binary options presence that meets my trading style, along with the high payouts given in a very timely manner. There was also no lag time on contract expiries. The affordable minimum deposit requirement and trade amount are just some of the things that surprised me.
Judging from how easy it was to navigate within the site and use its features, I would say that I will be using TradeRush for my trading activities in the future.