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uTrader Review - Is it scam or safe?

uTrader Review - is utrader.com a good binary options broker or a scam?

RATING: 2 / 0 REVIEWS
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Basic Information

 

Minimum deposit 

Min bet size

Payout %

Bonus

Trading platform           

 

Regulation

$300

$5

Up to 85%

50% - 150%  

SpotOption: web & mobile

 

No

 

uTrader is a binary options broker, offering trading in more than 90 financial assets on the SpotOption binaries platform under reasonable trading conditions.  Besides, this broker has a loyal fan base or over 250,000 customers.

 

Trading Accounts

 

uTrader offers its clients a choice of five basic account types, depending on the initial deposit: Start, Silver, Gold, Platinum & VIP.

 

Account type

Min. initial deposit

Welcome bonus

Education in trading strategies

Start

$300

Up to 50%

-

Silver

$1 000

Up to 100%

Gold

$5 000

Up to 120%

Platinum

$25 000

Up to 120%

4

VIP

$50 000

Up to 150%

4

Unfortunately, there is no demo account for those who would like to practice a bit before investing real money or for traders who simply want to try this broker's trading conditions and technology.

 

The Company. Security of Funds

 

Launched in 2011, uTrader website and trademark are owned by uTrader Day Dream Investments Ltd Trust Company Complex, a company registered in the Marshall Islands. The main company office that provides customer support is located in Latvia, Riga.

 

Brokers based in Marshall Islands just need to complete a simple registration procedure and don’t face any of the strict requirements that brokerages regulated in the UK or Cyprus do. To put it simply, when operating with such brokerages, traders will be receiving very limited regulatory protection and oversight, if any.

 

Trading Conditions

 

Trading Options: Call/Put, Turbo, Long term, Pairs, One touch, Ladder,

Assets:  Currencies, Stocks, Indices, Commodities

 

Minimum Initial Deposit

The minimum initial deposit for clients of uTrader is $300, which is average. In comparison, in order to open an account with CherryTrade, traders have to invest at leats $200.

 

Min bet size

The minimum bet size with this broker is on the lower end of average, amounting to $5 (for Turbo options). With CherryTrade one can place a trade with the same initial amount. Such low minimum bet sizes allow for better risk management.

 

Payout amount

Depending on the Trading Options and expiry times, payout percentage offered by uTrader reaches 85% on classic binary options, which is average for the market. As regards One Touch options profit is up to 650%.

 

In comparison, payout percentage offered by CherryTrade ranges from 71% to 81%.

 

Trading Platform

 

Like most binary options brokers, uTrader uses the web-based SpotOption platform. There are also iPhone and Android apps available.

 

The platform is internationally recognized as a leading software developer, and most of the leading brokers use their products. Double-Up and RollOver features are available on the platform, and cccording to the broker’s website, the prices are based on either Leverate.com or Reuters.

 

Besides, the broker provides Trading Trends & Best Latest Trades on its website - features, which allow traders to see market sentiment and to follow the best and most experienced traders on the platform.

 

 

On-Deposit Bonus

Welcome bonus from 50% to 150% of the initial deposit is available to clients of uTrader, which is quite an attractive offer.

 

Methods of Payment

 

There are several payment methods available to uTrader’ clients: wire transfer, credit/debit cards (Visa, MasterCard, Maestro), and e-wallets Skrill, Neteller, WebMoney, MoneyNet, and OKPAY.

 

Conclusion

 

Despite being registered offshore, uTrader is a reputable broker, offering reasonable conditions for trading in binaries on the SpotOption platform. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros 

Cons

SpotOption available

Not regulated

Low minimum bet size  

No demo accounts

Lucrative bonuses offered

 

 

 

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Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Traders` reviews for uTrader

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