Introduction uTrader is a binary options brand which operates out of the Marshall Islands. The brand is owned and operated by uTrader Day Dream Investments Ltd. The company also maintains […]Read Full Review
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|Website URL NEW||www.utrader.com|
|Support Types||Phone, Skype, Live chat, Email|
|Languages||English, Russian, Polish|
|Minimum 1st Deposit||$200|
|Minimum Account Size||$200|
|Minimum Trade Amount||$10|
|Maximum Trade Amount||Unlimited|
|Payout||Up to 90% for regular trades; 300% for One Touch|
|Free Demo Account|
|Account Types||Start, Silver, Gold, Platinum, VIP|
|Deposit Methods||Credit/debit cards, Skrill, OKPay, WebMoney, MoneyNet, Bank wire|
|Withdrawal Methods||Bank wire, Credit/debit cards, Skrill, OKPay, WebMoney, MoneyNet,|
|Number of Assets||Up to 50|
|Expiry Times||60 secs, 10 mins, 15 mins, 1 hour, End of day, End of week, End of month|
|Types of Assets||Currencies, Stocks, Indices, Commodities|
|Option Types||Turbo, Up/Down, One Touch, Pairs, Long Term|
|Trading Currency||USD, Euros, Zloty, Rubles, GBP|
|Account Currency||USD, Euros, Zloty, Rubles, GBP|
|US Traders Allowed|
- Mobile trading available
- Multi-currency platform
- Bonuses available
- Yet to be regulated
uTrader is a binary options brand which operates out of the Marshall Islands. The brand is owned and operated by uTrader Day Dream Investments Ltd. The company also maintains an operational base in Riga, Latvia. The uTrader brand, which was launched in 2011, has expanded rapidly over the years and now boasts of more than 250,000 traders.
The available binary options trade types on uTrader are as follows:
- Binary Options: This is the classical Up/Down option trade where traders decide on asset direction as a basis for success. The expiry value of the asset is gauged against the strike price on the basis of whether the expiry value is higher or lower than the strike price when the trade expires.
- Long Term: The long term options are basically Up/Down options which have longer expiry times. It is possible to have end-of-day and even end-of-month expiration times for trades.
- Turbo Options: These are the fast-paced options. Equivalent to the 60 seconds contracts on other platforms.
- Pairs: In pair options, two assets within the same asset class are pitted against one another and their overall daily performance against each other used in judging the trade outcome. The % move of asset A is compared with the % move of asset B. The asset which shows the greatest degree of price change in terms of percentage is adjudged the better performing asset. Whether the trader chose this asset or not forms the basis of whether the trade ends in the money or out of the money.
- One Touch: Two strike prices (one above and another below the market price) are set for the trade. These are located far away from the market price. The trader has to choose which of them will be attained within a week. This is a test of asset direction and range of movement, and the trade comes with a high payout.
Platform and Account Types
The uTrader platform is a turnkey platform designed by SpotOption. Traders who sign up with uTrader have to choose one out of several account types. Account types will determine the amount of bonus trading capital received. This platform offers traders the following account types:
- Start: Traders with a Start account can access a bonus of 50% of account capital. This account type is for those who fund their accounts with $300 to $1000.
- Silver: Accounts that are funded with $1,001 to $5000 qualify for the silver account which earns the trader a 100% bonus. A personal financial analyst is also attached to the trader.
- Gold: The gold account qualifies for a bonus of 120%. This is for traders who can fund accounts from $5,001 to $25,000. Gold account holders also get access to trading strategies from the technical analysis team of uTrader.
- Platinum: This account type requires deposits of between $25,001 and $50,000. Platinum account holders get up to 120% in bonuses.
- VIP: This is for those who can afford to fund accounts with more than $50,000. Those with VIP accounts get several benefits such as live trade demonstrations, sessions with financial analysts and VIP hedging tools.
Here are some of the special features that traders will find on uTrader.
- There is a fully functional mobile trading app which is available on the Google Play store and the App store. When downloaded, traders with Android devices and iPhones/iPads can trade on-the-go.
- Traders are also shown a market sentiment bar. This sentiment bar displays the tilt of the market in terms of the percentage of traders who are on the buying and selling side.
- The top 5 traders and their earnings are also shown.
- There is a vast array of educational resources which are available to all traders. These include an ebook and resources for technical analysis for beginners and advanced traders.
Deposit and Withdrawal Methods
In order to trade binary options with uTrader, traders must be able to deposit money into their trading accounts with uTrader. When profits are made, those profits can also be withdrawn. Accounts on uTrader must be maintained in US Dollars, Russian Rubles, British Pounds or Euros. Once a currency is selected, it cannot be changed.
The minimum deposit for uTrader is $200 or 200 Euros. Deposits can be made using:
- Credit/debit cards: Cards issued by Visa Electron, VISA, MasterCard, Dinerâ€™s Club, Delta, Solo Maestro and Maestro UK (Switch) are accepted on uTraderâ€™s banking portal. It is also possible to use a Skrill branded prepaid card to make deposits on uTrader.
- E-wallet methods such as OKPay, Neteller, Skrill and WebMoney.
- Money transfers using MoneyNet International.
The minimum withdrawal amount on uTrader is $25 or 25 Euros. Transactions usually take 2 working days to complete. Traders are entitled to one free withdrawal a month. Subsequent withdrawals within the same month attract a $12 fee. Bank wires are subject to a $25 bank processing fee.
Traders and indeed the general public can reach the customer support desk of uTrader using several channels. These channels are:
- Skype: â€śuTrader.comâ€ť is the companyâ€™s Skype username.
- Live chat
- Email: [email protected]
- Phone: There are several phone numbers through which uTrader can be reached.
+44 20 38089887 (London)
+1 6472438131 (Canada)
+6 12 83174977Â (Australia)