Rating Section:
- Bonuses: 85/100
- Software: 95/100
- Customer Support: 75/100
- Options Choice: 80/100
- Overall: 85/100
Ratings Summary:
We rated the bonus section an astonishing 95/100 since UTrader offers matching style bonuses to its members, as well as competitions and tournaments for extra winnings. For the trading software, it rated a high score of 90/100 because of the sophistication of the platform. Customer support earned a very high score due to its 24/7 availability and professionalism. As for the option choice, it also scored a relatively high score due to the extent and quality of choices offered by UTrader.
UTrader Introduction
When it comes to experienced binary options brokers, there aren’t many. That doesn’t mean there aren’t quality, reputable brokers out there, but experience is always a nice quality to have. One broker who has been in the game for longer than most is UTrader. This platform was established in 2011 and has developed a strong fan base of over 250,000 members over their 6 years in business. This statistic goes to prove that this broker is of high quality and trustworthy to trade with. What exactly makes a binary options broker of this caliber so successful over so many years? Let’s find out what UTrader has too offer, and what makes this broker so successful in the in-depth review below.
Company Information
UTrader is an established binary options broker operating out of Riga, Latvia with headquarters located at Trust Company Complex Ajeltake Road, Majuro, Marshall Islands, MH96960. The company is owned by Day Dream Investments LTD and was established in 2011. Surprisingly enough, UTrader is not regulated by any major regulatory authority. This however, does not mean the broker is incompetent, the company has proven to be very reputable and has received next to no complaints over their 6 years in business. As well, there have been talks about becoming regulated by the Cyprus Securities and Exchange Commission (CySEC) to further their reputation as a reputable broker.
Trading Platforms
UTrader uses the popular and familiar SpotOption trading platform. This platform is used by a number of successful binary options brokers, and for good reason. The platform comes equipped with all the best features a trader needs such as Sell, Double Up, and Rollover. The binary options types supported are High/Low, Turbo, Long Term, One Touch, Ladder, and Pair. The interface is very user friendly and there are various charting and analysis tools for making decisions. The platform is web based, meaning traders are not required to download any software and can use the platform from numerous devices anytime, anywhere. The platform operates 24/7 allowing traders to place trades at any time of the day.
Mobile
The UTrader SpotOption trading platform is also mobile responsive operating on Apple and Android devices such as phones and tablets. You can download apps from both Apple’s App Store or the Google Play store. The applications come equipped with all the features one would need including: Regular CFD Trading, 60 Seconds, One Touch, My Account, and My Portfolio. With the app, traders can reap the benefits of trading on the go with instant execution of trades, live chart analysis, and full access to your trade history. As well, the application is free to download and very responsive with frequent updates.
Assets Available
UTrader boasts a healthy number of tradeable assets available for traders, with over 80 assets to trade. These assets come from four different categories including Stocks, Indices, Currencies, and Commodities. Among these assets, the largest category selection is currencies, with over 50 pairs available. As well, there are 25 stocks and indices, and a total of 9 commodities to choose from. The options types available for the trading of these assets are High/Low, Turbo/60sec, Long Term, One Touch, Ladder, and Pair.
UTrader offers traders 4 different types of accounts, each including different features and minimum deposit requirements. Also, they feature a live demo account to familiarize traders with the software and platform.
Start Account
- Minimum $300 Deposit
- Up to 50% Bonus
- Introduction video
- Daily review of the market
- Tutorials
- Trading materials
Silver Account
- Minimum $1001 deposit
- Up to 100% Bonus
- Personal financial analyst
- Strategies videos
- Daily review of the market
Gold Account
- Minimum $5001 deposit
- Personal financial analyst
- Up to 120% bonus
- Half hour financial analyst led review of the account
- Priority withdrawals
- Daily review of the market
VIP Account
- Minimum $25,000 deposit
- Up to 150% bonus
- Personal trading strategy
- UTrader review of the personal account
- Daily review of the market
As for the bonuses, trader benefit from the various welcome bonuses as seen above with the different accounts. As well, traders can compete in competitions for cash reward prizes and other promotions.
Deposits and Withdrawals
UTrader has a number of available deposit and withdrawal methods for traders. In fact, they accept more methods than many other brokers we have reviewed. Credit cards accepted include Visa, Visa Electron, MasterCard, Diners, Delta, Solo Maestro and Maestro UK (Switch). The company also accepts various forms of e-wallets, including OK Pay, QIWI, WebMoney, Neteller and Skrill. Bank-Wire transfers are not accepted by UTrader, but if they were, there would likely be a fee, so it’s not such a big loss.
One of the major disadvantages of UTrader compared to most other binary options brokers is the extensive minimum deposit amount of $300. While this is substantially higher than most brokers, their minimum withdrawal amount is much more reasonable with only a minimum of $10. Withdrawals are usually processed within 24 hours, and have a greater priority with the Gold and VIP accounts.
Customer Support
UTrader has a team of experienced professionals as their main support line. They can be contacted in a number of ways, including telephone, mail, live chat, and skype. Their customer support response time is very quick and they are known to be very informative and helpful with their responses. As well, support is available 24 hours a day, 7 days a week. Another helpful resource is their extensive FAQ section, with answers to most questions a new trader might have.
Extra features and resources
An extensive resource offered by UTrader is their educational center. Here, traders can benefit from a variety of platform tutorials, binary options e-books, strategies, as well as professional market analysis and personal manager support. Another enticing feature is the competitions and tournaments offered by UTrader. With these competitions traders can show off their skills and earn a profit while coming out on top.
Verdict
Experience generally counts for something, and in the case of UTraders history, it certainly does as well. The company has proven themselves to be a very competent and reliable broker over the years. They have made improvements throughout time, and are now considered to be one of the best binary options brokers. UTrader offers traders a healthy amount of tradeable assets as well as options for trading them. The customer service is very professional and responsive too. As for the platform, there are no complaints, as it is one of the most popular binary options trading platforms in the market. All in all, UTrader is a trustworthy and competent binary options broker.
Pros
- Popular SpotOption trading platform
- Low minimum bet size
- Lucrative and fun bonuses offered
Cons
- Not regulated
- High minimum deposit
FAQ
Is UTrader regulated?
No, unfortunately UTrader is not yet regulated, but may be regulated by CySEC soon.
What methods can I use to deposit funds at UTrader?
Visa, Visa Electron, MasterCard, Diners, Delta, Solo Maestro and Maestro UK (Switch). As well as, including OK Pay, QIWI, WebMoney, Neteller and Skrill.
Does UTrader accept international traders?
Yes, UTrader accepts clients from all over the world, excluding some countries.
How long will it take for my withdrawal request to be processed?
Withdrawals will be processed within 24 hours, and even faster for Gold and VIP Accounts.
Is there a fee for making a withdrawal?
No, there are no fees for withdrawals.
What is the minimum initial deposit requirement at UTrader?
The minimum initial deposit is quite high at $300.