Summary Of uTrader Binary Trading
The binary options market has an amazing quality that makes it stand out from the rest of the financial products in the global markets. Immaterial of the risks and negative publicity of binary trading due to the numerous scams, binary options is still considered to be a top investment opportunity for new traders. One of the most important considerations for traders would be to choose their binary options carefully and to avoid investing their money in any scam or fraudulent company.
uTrader appears to be a more common name in the binary options markets, has been able to cater to traders through a dependable binary options trading platform. Of course, there are some issues with uTrader binary options trading, but the broker has received a largely positive response from its existing clients. It is normal for a company to receive criticism for their services, but it ultimately depends on the broker on how they accept their criticisms. In this uTrader broker review, we give you some of the top reasons why you should choose uTrader and some of the negative aspects of the company that informs you about all the essential factors that you must consider before investing.
uTrader Regulatory Information & Broker Location
uTrader is located in the Marshall Islands and seems to take advantage of the excellent business-friendly environment of the country to revel in a low-tax environment. It is not uncommon for brokers and financial companies to operate from tax havens, in a bid to reduce their overall costs and expenditure. Tax havens are chosen for their relative lack of regulatory guidelines, which does not help in developing a sense of trust and confidence among traders.
uTrader was founded in the year 2011, under Day Dream Investments LTD brand name that also holds several web properties and investments in other online industries. The parent company, with its Marshall Islands license, continues to approach the global community of retail traders with an open mind to increase their market exposure and to bring in new clients to the uTrader trading platform.
However, there are numerous drawbacks of operating from a popular tax haven. For instance, traders are aware of the fact that the lower regulatory requirements for financial companies located in countries such as the Marshall Islands may adversely affect the safety of their investments. Therefore, uTrader has its work cut out to prove to its traders that the broker does indeed concentrate on offering a safe and secure trading environment.
uTrader is also aware of its predicament of basing its services out of the Marshall Islands, which is why the company appears to be making a move to the EU for enhancing its reliability aspect. Regardless of the rumours and news surrounding the company’s EU regulatory move, we will only feel more confident in the company’s overall services portfolio once the company gets its regulatory license from a credible authority in the EU or from other top jurisdictions.
Underlying Binary Options Assets At uTrader
The broker shines when it comes to providing the most varied assets for trading, as clients can choose from the Stock, Indices, Commodities, and Forex markets. The choice of underlying instruments is one of the key factors that contribute to the success of binary options trading, as it allows traders to invest in different assets to take advantage of the fluctuations in the global financial markets. Of course, it may not be easy for beginner traders to choose a winning combination of assets, but with practice and experience, traders should be able to choose their preferred financial instruments that suit their investment criteria.
Stocks: 3M, AIG, ALIBABA, ALLIANZ SE, AMAZON, ANZ BANK, APPLE, AXA SA, AXIS BANK, BANCO SANTANDER, BANK OF AMERICA, BAT, BAYER AG, BAIDU, BARCLAYS, BHP-AU, BLACKBERRY, BMW, BP, CATERPILLAR, CHEUNG KONG, CITIGROUP, COCA COLA, DAIMLER AG, DANONE SA, DEUTSCHE BANK, DEUTSCHE TELEKOM, DISNEY, DUBAI, EBAY, EXXON MOBIL, FACEBOOK, FIAT, GAZPROM, GENERAL MOTORS, GOLDMAN SACHS, GOOGLE, GROUPON, HITACHI, HSBC-HK, HSBC HOLDINGS, IBM, JP MORGAN CHASE, LAS VEGAS SANDS, LINKEDIN, LLOYDS BANK, LUKOIL RS, MASTERCARD, McDONALD’S, METRO AG, MICRON, MICROSOFT, NETFLIX, PETROBRAS, PFIZER, RIO TINTO, RIO-AU, S.BANK INDIA, SANDISK, SBERBANK, SIEMENS AG, STARBUCKS, TATA MOTORS, TATA STEEL, TELEFONICA, TESCO, TEVA. TA, TOSHIBA, TOTAL S.A, TURKCELL, TWITTER, VIVENDI SA, VODAFONE, VOLKSWAGEN, WYNN RESORTS, YAHOO, JAKARTA SE, SAUDI REFINERIES, U.S 10 YEAR NOTE, U.S 30 YEAR NOTE, ASX, ROSNEFT, YANDEX N.V
Indices: ASX (Australia), BOMBAY SE, BOVESPA-F, DAX, DAX FUTURE, DOLLAR INDEX F, DOW, EURO STOXX 50, FTSE 100 (UK), FTSE FUTURE, HANG SENG, IBEX 35, IBEX FUTURE, KL FUTURE, KOSPI, KUWAIT, MICEX10, NASDAQ FUTURE, NIFTY, NIKKEI 225, RTS FUTURE, S&P FUTURE, SHANGHAI COMPOSITE, SHENZHEN 300, SMI FUTURE, SSE180, STRAITS TIMES, TADAWUL, TAIEX, TEL AVIV 25, TOPIX, TSX 60, FAZ-SHORT BANKS, NASDAQ, CSI 300, EURO STOXX 50 F, S&P 500
Forex: AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/JPY, EUR/CAD, EUR/GBP, EUR/JPY, EUR/RUB, EUR/USD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/USD, NZD/JPY, NZD/USD, USD/BRL, USD/CAD, USD/CHF, USD/EGP, USD/JPY, USD/PLN, USD/RUB, USD/SGD, USD/TRY, USD/ZAR, EUR/AUD
Commodities: COFFEE, CORN, GOLD, OIL, PLATINUM, SILVER, SUGAR, WHEAT
We did miss out on a few assets such as pairs and ETFs, but it shouldn’t matter much to the average trader requirements. The broad coverage of assets is indeed advantageous for all categories of traders and should serve as an excellent tool for both professional and amateur investors.
uTrader Payouts & Cost Of Trading
The payouts in the binary options market vary from broker to broker, but traders should realistically expect an average return of 60%-80% for most binary options products. There are exceptions to this case, as some brokers tend to offer as high as 95% for winning trades while providing a refund of up to 25% for losing trades. However, uTrader has a more conventional payout system that generates a maximum ROI of 85% for in-the-money trades, and there aren’t any refunds for out-of-the-money trades. The payouts will reduce to a more traditional 60% payout for less-popular instruments, which takes down the average payout to 75% under best case scenarios. There are more lucrative binary options products such as ladder and touch/no-touch options, which can provide up to 500% returns on a single trade. These binary options products are riskier than the conventional binary options products and are more suitable for experienced and professional traders.
uTrader does not have any other hidden costs of trading, which is good news for traders. However, traders must realise that trading in the binary options market involves a direct conflict of interest between the broker and the trader. All binary options trades are direct contracts between a trader and the company, and the house odds are greater than other forms of gaming products. Due to the increased conflict of interest and the lack of regulation, we are a bit concerned about the long-term implications of trading with the company. Nevertheless, the feedbacks from existing clients have been largely positive, but there are also a few concerns doing their rounds in online forums.
The minimum investment per trade for a binary options contract at uTrader is $10, which is higher than the average minimum investment of $5 offered by rival brokers. It is also possible for traders to invest as low as $1 per trade at certain leading brokerages, which does present a slight inconvenience for uTrader account holders. Hence, traders may benefit from implementing conservative money management strategies to preserve their trading capital during times of increased drawdown.
uTrader Trading Platforms
uTrader clients are provided with the tried and tested SpotOption binary options trading platform for all trading needs, which is a third-party platform that is offered by a large number of leading binary options brokers. SpotOption makes use of advanced graphical user interfaces to provide one of the best binary options platforms in the market. Some of the major advantages of uTrader SpotOption platform include fully online access through a browser-based interface, wide range of trading types, comprehensive access to assets, good choice of expiry times, and a basic charting package. The SpotOption has received numerous awards for platform efficiency and reliability, as the SpotOption continues to receive new features on a periodic basis.
The web trader provides an easy and convenient layout that provides an opportunity to choose between different binary products such as the traditional high/low, 60 seconds, ladder, turbo, and one touch options. The uTrader platform also enables users to manage their trades with longer expiry times, by making use of the rollover or double-up feature. The rollover option is basically an option to increase the time of expiry of a trade by investing an additional amount of money into an open position, while the double-up feature is designed to double the invested amount of an already existing positive trade to receive increased returns.
uTrader Apps For Mobile Trading
uTrader has dedicated binary options apps for iOS and Android devices, which are readily available for download on the Apple App Store, and the Google Play Store. uTrader mobile trading platforms enable complete compatibility with both smartphones and tablets, running on iOS and Android, while other mobile users can access the uTrader SpotOption trading platform on their Windows or other OS devices. It is, of course, convenient for traders to access their uTrader accounts on a mobile device, especially with the SpotOption web trader interface that is fully scalable for use on all compatible browsers for both desktop and mobile operating systems.
uTrader Minimum Deposit, Account Funding, & Account Categories
The minimum deposit for a uTrader account is $300, which is slightly larger than the $250 average required by other leading brokers. Despite the larger initial deposit requirement, uTrader does not provide any preferential account benefits for smaller retail traders, as the company has developed five different account categories to create premium conditions for larger account holders. Payments can be made through Visa, MasterCard, Neteller, WebMoney, Skrill, MoneyNet, Wire Transfer, and OK Pay. As is the case with all brokers, depositing funds into your accounts are processed instantly, but withdrawals do take longer and are processed according to the account category of the trader.
Smaller traders must opt for the Start account, which is the lowest account category at uTrader that specifies a minimum investment of $300 to $1000. The Start account may fail to impress traders, as the account has pretty ordinary trading conditions. The second category or account, known as the Silver account, does not provide any massive benefits over the Start account, despite the higher minimum deposit requirement of $1001 to $5000. The Silver account gets some basic education in investment strategies and access to a personal financial analyst for receiving trading calls and other market analysis. Both the Start and Silver account have standard rules of withdrawals, where withdrawals are processed in a relaxed manner. Don’t be surprised if the broker takes a few days to get your withdrawals processed to your preferred account.
The Gold account is where things start to get interesting, with a higher deposit requirement of $5,001 to $25,000. Gold account holders get access to accelerated withdrawals that promises to process withdrawals faster than the Start and Silver accounts. The Gold account also qualifies for increased financial assistance, which includes a weekly review, four classes in trading strategies, and a personal financial analyst with increased influence. Regardless, the Platinum and the VIP accounts are the ones to opt for, as for a minimum investment of $25,000 and $50,000 can give access to highest priority withdrawal, personalised review of the trading account by a financial analyst, a trading plan, and a personalised trading strategy. The VIP account even grants access to quality screen time with an established trader for one-on-one trading sessions with a financial analyst, and traders can also get access to VIP hedging tools.
The higher investment barrier of $300 may sound higher for smaller investors, but it may be justified due to the minimum investment of $10 required for opening a binary options contract through the SpotOption platform. Nevertheless, you have the option of opening an account for as little as $5 at other binary options companies and can even enjoy more account privileges than the ones offered by uTrader.
uTrader offers a minimum of 50% deposit bonus for its Start accounts, which is higher than the bonuses offered by some of the leading binary options brokers in the market. Of course, it does help the broker to be located in a tax haven, as most jurisdictions prevent companies from providing any bonuses to its clients. Brokers from the EU and the US are especially popular for their recent no-bonus policies, which prevent traders from signing up for any free trading credits at the time of signing up.
The bonus for uTrader silver accounts increases to 100% of the deposit amount, while Gold and Platinum account holders can receive a maximum bonus of 120%. uTrader provides a maximum bonus of 150% for its VIP account holders, which qualifies for up to $75,000 in bonuses. Take your time to consider all the different terms and conditions of the uTrader bonus program, as there are several restrictions imposed on an account for traders who are opting for a bonus for their accounts.
You must be a verified account holder with a live funded account, to be able to receive access to a demo account. We have seen that a large number of binary options brokers deliberately shy away from offering a free demo account, unlike its FX or Stock trading counterparts. We expect every broker to offer a free unlimited demo option for traders, without stipulating any conditions, but the availability of a paid demo account is far better than investing in a broker’s services without proper preparations.
uTrader Customer Service
Binary options trading has witnessed different levels of customer interactions from brokers when dealing with their clients, which have varied from an excellent customer service experience to outright scam practices. uTrader does not indulge in any drastic financial irregularities, but the uTrader channels are far from exemplary. There are different customer interaction platforms such as live chat, email, phone, and web contact forms for traders to contact uTrader representatives, but the response from these channels are less-than-favourable for a reliable customer service environment. uTrader needs to work on its customer interaction policies to improve their overall reliability aspect when dealing with existing and new customers.
uTrader Features & Resources
uTrader has given priority towards offering a full suite of trading resources to its premium traders, which include access to a financial analyst, customised trading strategies, and account reviews. However, smaller traders must be content with a few introductory courses and an introduction to the trading platform, which is not usually constructive from a beginner trader’s perspective. Nevertheless, if you are willing to invest a significant sum of money into a uTrader account, you can indeed take advantage of the excellent services provided by the company.
- uTrader has one of the best bonus programs.
- Excellent trading platform and mobile access through dedicated apps for iOS and Android.
- Covers all major financial markets and a good choice of tradable instruments.
- The payouts match the average ROI offered in the market.
- Accounts geared for larger investors.
- Not sufficiently regulated for the safety of funds.
- No free demo account.
- Sub-par customer service experience.
What Is The Minimum uTrader Bonus?
The broker offers a minimum bonus of 50%, which can reach up to a maximum of 150% for higher account categories.
Can I Sign Up For An uTrader Demo Account?
Yes, the broker offers a demo account, but only for verified account holders. The demo account is provided after making an initial deposit.
Is uTrader A Scam?
No, uTrader is not a scam broker, even if the company is not regulated by a leading regulatory authority.
With some of the best bonuses in the industry and an excellent binary options platform, uTrader has an incredibly attractive binary options product that can provide a credible service, provided uTrader commits to its promise of getting regulated by a genuine organisation.