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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 / 3 REVIEWS uTrader
uTrader is not regulated. We cannot guarantee your money is safe.

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% 2
Gold $5 000 Up to 120% 4
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:

 

To sum up the above:

 

Pros Cons
SpotOption available Not regulated
Low minimum bet size No demo accounts Cons
Lucrative bonuses offered  

 

 

Latest news about uTrader
No news about uTrader . Check back later.
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Traders` reviews for uTrader

Spread

Pros

Cons

 

 

Slippage

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Requotes

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Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

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Customer service

Pros

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Summary

Pros

Cons

 

 

Bad broker

I have an acc with Utrader. My withdrawal of my funds is denied despite several confirmations which were made in telephone calls . I had no Bonus so there is no reason für denying. This is now a Dispute of 6 weeks !! I only can say: avoid These People !!!

Wolfgang schiller 08/21/2018

there are pros and cons

I was looking for a broker who has risk-free orders and accidentally bumped into utrader. I've tried this bonus and it worked. It's not like I made profit, but I haven't lost the main deposit either. I have myself to blame, I thought that I'm the smartest and didn't set a stop-loss. But I'll continue trading with this broker. I had no problems with verification, it was quick. I hope to make funds withdrawal once I have any. Utrader has enough assets, about 30 currency pairs and everything else as well. There's not that many crypts, though, but I don't trade with them.
_________

pros: nice bonuses and enough assets

cons: no demo account

Ella Howell 05/30/2018

Utrader is definitely consists of scammers

They said that they will be able to approved your withdarwal request within 2 working days. I made my request on the 4th December 2017 and unfortunately till to date i have not seen any of my money in my cards.

And nobody really know where they are located, so if they refuse to give you your money that you deserve back, i guess nobody will be able to help you.

Only scammers will mask their IP address for websites and emails.

Can anybody tell me if you know whwre exactly is their office? I doubt so.

Conclusion: Do not put your hard earned money with them as they are scammers!!

betty david 01/19/2018
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