UTrader Review

Summary

Utrader has some of the best bonus system in the binary options field and as such they scored an enviable 95/100. The broker uses the SpotOption trading platform and it literally has everything a trader could need, so scores 90/100. Customer support is efficient and always available, so we gave it 85 points. Options choice is more or less reflective of  the industry average so gets 80/100.

Binary Options is still a new area for the financial markets. A lot of brokers that offer their services are one, two and three years old. However, some have been around over five years, created a large client base, improved their trading platform, enlarged their customer service team and done a lot of other things that help build their reliability. Utrader is one such brokers. Let us look deeper into the services they offer and evaluate them.

Company information

The company was established in 2011. It is currently owned by by Day Dream Investments LTD, located at Trust Company Complex Ajeltake Road, Majuro, Marshall Islands, MH96960. They have their offices in Latvia, Riga, so they may be considered an Eastern Europen broker. The broker aims to get the CySEC license, but has not yet managed it. However, it is regulated by independent Russian regulator CROFR. Like many other brokers they are using a popular and user friendly SpotOption trading platform. You may contact them in their UK office on the number: +44 208 077 3096 and the support is available through [email protected].

Assets available

Utrader give their customers a choice of assets to trade across four categories: currencies, commodities, indices and stocks. They currently have 28 different currency pairs, which is not a lot, but if you are a currency trader you will have a choice of the most popular pairs, such as EUR/USD or GBP/USD, plus most popular variations of most popular currencies: USD, EUR, GBP, JPY, AUD, NZD, CAD, CHF. List of commodities is pretty thin, just 8.

However, as most traders trade Gold and Oil, extra six are more than enough: Silver, Coffee, Corn, Platinum, Sugar and Wheat. The number of indices is 37, which is really impressive, taking into account that even the most prestigious brokers offer around 15 of most popular World Indices. The final category of stocks contains 83 individual stocks. That is more than enough as a lot of brokers do not actually even provide traders with the choice to trade individual stocks.

Bonuses & VIP programs

As has been mentioned earlier, Utrader offers some of the very best bonuses in binary options industry. Some of them depend on the type of account you choose. They have 5 levels of accounts, which is again a spectacular number with specific benefits and bonuses relevant to each account.

– Start

This account, as the name suggests, is meant for beginners and your deposit range will be $300-1000. Your welcome bonus will be up to 50% of your deposit amount.

– Silver

The range for silver account deposits are between $1001-5000. You will be able to get up to 100% bonus of your deposit amount. You will also get a personal financial analyst and 2 weeks of education in trading strategies.

– Gold

Gold account is meant for advanced traders who have a lot of capital to invest, anywhere from $5001 to 25000. These traders will get up to 120% bonus of the deposit amount, accelerated withdrawal process, 4 weeks of education in trading strategies and an individual review of a trading account with a personal financial analyst once a week.

– Platinum

The range for deposits in the Platinum account is pretty large at between $25000-50000.  With this account you will get up to 120% bonus of your deposit amount. You will get the highest priority for withdrawals, everything that  the Gold account holders get, plus a trading plan (quarterly) and help in developing a personal trading strategy.

VIP

You need to deposit over $50000 in order to get access to VIP account and the benefits that come with it, and they are great: up to 150% bonus of your deposit amount, everything that the Platinum account holder gets, screen demonstrations of real time trading, the highest priority to trade online with financial analysts and VIP hedging tools.

Risk Free trades

Utrader also provides all their traders with insurance or so called risk-free trades. Those have terms and conditions and the number of trades you can made that can be considered as risk free.

Educational Packages

Each account holder (depending on his account level) will also get educational packages. These will include trading strategies, ebooks, trading alongside  company analysts, trading signals, built-in trading advisers and many more. You can read about these on the promotions page.

Another useful perk that each trader may expect to get are cashback rewards. Depending on the volume of your turnover you can get up to 5% profit when you reach a certain level of turnover on your account. These have terms and conditions, so be sure you read about them on broker’s website.

Fees, Payouts and Trading features

The broker does not charge any fees, commissions or spreads. The minimum deposit with the broker is $200 or Euros. Minimum trade size is $20, but for turbo options you can invest as little as $5. These are quite big minimum amounts in comparison to other brokers. The maximum amount for a single trade is $5000. However, you can open a number of option contracts, each with the size of $5000. Payouts differ depending upon type of option you choose. Typical limits for most options are 85%, but for One-Touch options the maximum payout can be 650%, which is the highest percentage we have heard so far.

Trading Platforms

Utrader uses SpotOption trading platform, which means you do not have to download any software and trade options. It is a safe, secure and user friendly platform and the broker has offered a walk through in order to demonstrate how things work, including how to open a trade. You simply choose an asset, predict price movement, choose investment amount and open a trade.

They offer traditional options such as high/low, ladder, turbo, long term and one touch. Additionally, you can use a double up function, which means that when you are sure your trade will end in the money, you can double up your position. RollOver is also possible, meaning you can prolong your expiry date it looks like the trade is not going your way at present.

These are really useful features, once again showing that a broker is giving you every possible chance to make money and increase profits.

Mobile

You can trade binary options on the go using mobile applications which you can get at Google play for Android devices and at Apple App store for iOS. The mobile platform is as easy to use as a web one that can be used on your desktop. It is also absolutely secure, because it uses the highest form of secure encryption. Do not forget to use ‘Trading Instruments’, ‘Education” and ‘FAQ’ sections to see how things work on the trading platform before you actually implement a live trade.

Deposits and withdrawals

Utrader makes sure all of your transactions are safe, so they use a highly secure encrypted system for deposits and withdrawals. You can deposit your money using these methods: bank transfers, credit cards (Visa, Visa Electron, MasterCard, Diners, Delta, Solo Maestro and Maestro UK (Switch)., They also accept payments from most popular e-wallets: Netellr, Skrill, MoneyNet, OK Pay, WebMoney and a few others.

The minimum amount of deposit is $200 or Euros. You can use these currencies for deposits and withdrawals: US dollars, Euros, Russian Rubles, British Pounds and Polish Zloty

The minimum withdrawal amount is $25 or Euros, which is very low in comparison to other leading brokers. The first withdrawal is free and the second for the same calendar month will cost you $12. The good thing is that they do not charge any fee on withdrawing to credit card or e-wallets. Wire transfer is $25, which is similar to what you can expect with other brokers. Withdrawal will typically take up to 2 business days and you will be asked to supply identity documents before your request is granted.

Customer support

Customer support is great. You can find most of the answers in their FAQ section, but if you don’t find something there, there is online live help, which will deal with your questions immediately and effectively. Alternatively, you can contact them on Skype (utrader.helpdesk) or send them an email to ([email protected]). There is a UK number you can call +442080773096 to discuss any urgent issues. On the whole, their customer support is slightly above the average of what other brokers offer. Support is available in English, German, Polish and Russian.

Extra features and resources

Utrader has great educational resources on their website with Webinars, video tutorials, platform ebook, glossary for novice traders and their analysts that can share their insights with you about trading strategies, market sentiment, making a trading plan and more. The ‘Trading Instruments’ section of the website, contains a lot of useful resources too. You can read financial news and commentaries, market reviews and strategies and also see  and manipulate live charts streamed by TradingView – an excellent way to study charts without logging into your account.

Verdict

Utrader seems to be a reliable and trustworthy broker with a huge client base, excellent educational resources, secure trading platform and deposit/withdrawal methods as well as top bonus system. We would recommend it to any potential traders.

Pros:

• 24/7 Customer Support
• Easy to use and innovative trading platform
• Great educational base
• Amazing choice of assets
• Top bonus system

Cons:

• US traders not accepted
• Some fees for withdrawing funds

FAQ

What is the minimum amount to deposit?

The minimum amount for a deposit is $/€200.

Will I be charged for withdrawing money?

The first withdrawal each month will not be charged. Every additional withdrawal within the same month will be charged at $12. You wont be charged for withdrawing to a credit card or e-wallet account.

Is Utrader a scam?

Absolutley not, the company has a good track record, is regulated and have no major complaints against them.

TRADE AT UTRADER