As one of the relative newcomers to the binary options market Traderush has been slowly trying to carve out itself a solid name and reputation and to say that it has been smooth sailing would be somewhat rose tinting the facts. In reality this broker has struggled a little to compete with their more established competitors but that does not necessarily mean that they are of no use or that the future might not be bright for them.
Formed back in 2011 and owned by London based Marblestone Partners Ltd. Traderush certainly is known for being innovative. Their fresh approach to the standard binary options which they offer is certainly what draws the attention of traders.
On the negative side the lack of regulated coverage and registrations with authoritative bodies has been hurting them in the long run and will always continue to do so until it is remedied. Trust is the name of the game and without it people are not overly keen to hand over money no matter how stylish and innovative you may be.
Regardless of these somewhat uninspiring qualities Traderush still has a good reputation for providing a solid service with some rather nice features and are currently undergoing the process for receiving regulation coverage.
As with many binary options brokers Traderush has decided to go with the tired and trusted format of a 5 part breakdown in account types. In essence the only differences between these accounts are the minimum deposit requirements and the features offered. At the lower end of the spectrum we have the Micro account which requires a minimum deposit of $200 to begin trading followed by the standard account ($500). One notable feature difference between these two is the withdrawal delay. Lower end accounts usually take a few days to process while higher tiers can be done almost immediately.
At the higher end we have the Gold and Platinum accounts which require $5000 and $10 000 deposits respectively. While these high end types are clearly for professional traders they do offer some very distinct advantages in terms of features including risk-free trades and access to the VIP membership training academy.
Maximum payouts 400-500
A few people I spoke to during my review commented that they felt that Traderush payouts were a little on the low side but I’m going to have to respectfully disagree with them. While it is true that some of the more standard options types do have a ‘slightly’ lower payout than many other brokers do this is balanced out by their innovative system of protected losses which covers a solid 10% of any deal. If you dig deep you will find that they average out like most brokers at between 70%-81% making them very competitive.
One of the delightful things to note about this particular broker is the selection of assets available for trading against. With over 125 assets including stocks, currency pairs, indices and commodities including the big market players such as BP and Apple there is always something good to set your options against on a global scale.
Better yet is the choice of 19 indices which makes Traderush a platform that has a market to trade with 24/7. The list of currencies is equally impressive which seems to be the main focus of this platform. The stocks list is about what you would expect with no surprises hidden within but they are still the standard good offering.
Deposit and withdrawals
Deposits at Traderush are set at a minimum of $200 or €200. Completiton of deposits can be done via credit/debit cards (all major types), Electronic transfers through Moneybookers or wire transfer. Note that wire transfers have a higher minimum of $500. Deposits are near instantaneous and are completed with no difficulties.
Withdrawals differ mainly by account type but can be handled either all the same methods as deposits and are done free of charge with the exception that you may only have 1 free wire transfer per month with a commission applied to subsequent withdrawals. In reference to the time taken, accounts have delivery times ranging from 7 business days to up to 2 weeks.
It is important to note that withdrawals should be considered when making a deposit as the same method is normally required when taking out money.
One clear advantage of Traderush is the number of phone lines they have dedicated to customer service which are available in a whole host of countries worldwide and many languages as well including English, French, Arabic, Russian and Japanese. Over the course of 2015 Traderush customer support has grown enormously to service a much wide cross section of international brokers and now has dedicated phone lines in many countries such as USA/Canada, Spain, Japan, Germany, UAE, France and Australia.
Further to the phone lines are the options to use the live-chat service or email support. Response times for both have been quite good delivering nicely detail replies and a 6 day working service.
Overall it is fair to say that Traderush is something of an unknown quantity in the binary options market. As with many smaller up and coming brokers they are finding that breaking the mold in this are is tough going. This does not mean that they offer a poor service, quite the contrary in fact but teething troubles in certain areas along with the lack of regulation make it much less desirable in the trust department for many traders. But what they do have on their side is potential. The potential to try something a little different and make it a success. I’m confident that one the minor issues are cleared up this platform will explode with possibilities and new trading opportunities.