In our next binary options trading platform review we cover TradeSmarter, the soon to be regulated binary options broker. TradeSmarter is one of the binary options brokers offering the types of high yield contracts that have become so popular globally. they has made a lot of effort in improving their trading platform and offerings (see video) over the last several years, and in particular in the last twelve months. Let’s take a closer look at what makes them stand out.
What’s to Like about Using Tradesmarter?
#1: It’s All About the High Yields Baby
As I am writing this review I am noticing that the in the money yields on several of the forex binary options contracts are over 80%, and one (GBP/USD) is as high as 85%! You don’t have to have anywhere near as high a success rate to come out ahead when yields are that high (follow me on Twitter and send me a note and I’ll send you a link to the success calculator). Yields on nearly all the assets I reviewed over a 24 hour period were at or above 70%. Not many other binary options brokers can claim that – nor can they claim the vast number of binary options trading contracts offered! Out of the money contracts pay out 0-10% on a case by case basis – so watch for that when executing your contracts – it makes a difference in the success rate needed on a binary options hedge.
#2: Binary Options Trading on Many Stocks Including Asian Stocks
Tradesmarter offers a ton – and I mean a TON of binary options on individual stocks. Their stock offerings dwarf all of the other binary options brokers save one. At last count I saw 40 individual stocks offered, including one offering on the SPDR Gold ETF, multiple Asian/Chinese stocks, and a number of Russian securities as well. Also notable amongst their other asset offerings is the availability of trading binary options on a wider number of commodities such as platinum, natural gas, and copper. Few other brokers offer any ONE of those assets, let alone all three (yes, they trade gold, silver, and oil as well).
#3: Binary Options Bonus Cash and Special Offers
TradeSmarter is pretty aggressive when it comes to incentives and bonuses. According to their terms they offer at one type of bonus cash – with some minore restrictions. What they call Pending Bonus Cash becomes AVAILABLE to trade and or withdraw once the trader has made trades on their OWN cash amounting to 15x the amount of the PENDING bonus cash. If the pending bonus is $100, the trader needs to make $1500 worth of trades to have full access to the bonus cash. This avoids some of the confusion traders at other brokers run into when dealing with co-mingled restricted cash bonuses and customer deposits. Confusion is avoided for TradeSmarter customers because once the bonus cash is earned – it’s fully available for trading OR withdrawal.
It would seem to ME then that Pending Bonus Cash is the better offer. That’s just my opinion. As for Special Offers, TradeSmarter does some pretty innovative things – for example one day I saw an email alert come through that ALL ASSETS were going to pay out 85% yields for the entire day! NOBODY DOES THAT – AND IT’S PRETTY COOL!
#4: VIP Club
The VIP Club is another special offer that only TradeSmarter offers. I won’t go too far into the details, but here’s a flavor of what you get (and all of it is really great stuff!):
- Direct Access to the Trading floor with an account executive for one on one training
- Higher trading limits
- Better bonus cash offers
- Advanced tools and analysis
- Quicker funds withdrawals
The VIP Club seems well worth it if you can get the maximum information out of the training and additional resources.
Account and Trading Policies
Ahhh my favorite: the fine print. This is the area where everyone who starts trading binary options (or any other asset for that matter) can run into trouble. Don’t fret though, we dug through the policy pages for you and picked out the stuff most likely to give you fits.
Let’s start with withdrawal policies. There is no minimum withdrawal and binary options traders may withdraw up to the full amount of their deposits back to a credit card without charges. Traders who want to wire funds must pay a $30 fee – and traders must bear in mind that funds availability rules apply. Typically traded funds are available 3-10 days after the trade has been executed – SO LEAVE YOURSELF SOME TIME IF YOU INTEND TO WITHDRAW FUNDS.
The second most important policy is the minimum deposit ($250) and funding methods. TradeSmarter accepts the major credit cards and some debit cards. They also take wire transfer and MoneyBookers accounts as well. Funds in denominations of Euros, USD, and British Pounds are acceptable, however ALL TRADING IS DONE IN USD. Funds deposited are converted to USD on the day of deposit based on the prevailing exchange rate that day.
Crude Oil Future, Gold Future, Natural Gas Future, Platinum Future, Copper Future, Silver Future
EUR/USD, GBP/USD, USD/CAD, USD/CHF, GBP/JPY, AUD/USD, EUR/GBP, EUR/JPY, NZD/USD
FTSE 100, Dow Jones, S&P 500, S&P/ASX 200, CAC 40, MICEX
Citigroup, Barclays, Vodafone, BP, RBS, Rolls-Royce, HSBC, BAE, BHP Billiton, Commonwealth Bank, CSL, Macquarie Group, Newcrest Mining, Rio Tinto, Lloyds, Tesco, British Telecom, Total, Sanofi-Aventis, Alcatel-Lucent, BNP Paribas, AXA, France Telecom, L’Oreal, Carrefour, Mastercard, Macy’s, General Electric, VM Ware, SPDR Gold Trust, Goldman Sachs, MGM Resorts, China Mobile, China Life, China Petroleum, PetroChina, Lukoil, Gazprom, GMK Nor Nickel, Rosneft