Operated
by Market Punter Ltd., TradeSmarter is one of the oldest binary options
brokers on the Internet. It is also one of the only regulated binary
options brokers, as its parent company is licensed with an Australian
Financial Service number. One of the smartest features we encountered in
our TradeSmarter review is that the company offers two views of its
web-based platform so that traders can choose whichever format they find
easier to use. An extensive FAQ section and binary options glossary
ensures that each trader can have all the resources he needs to truly
trade smarter. Read our full TradeSmarter review to see if this binary
options platform is right for you.
General Information
Founded in: 2008
Headquarters: Sydney, Australia
Minimum Deposit: $100
Maximum Per Option: $2000
Languages available: English, Spanish, French, Turkish, Arabic, Latvian, Dutch, Chinese, Portuguese, Italian
Trading Platform
The TradeSmarter trading platform can be viewed in either Box View or
List View, depending on the preferences of the trader. While neither of
these views is specifically unique, the mere fact that there is a choice
is something noteworthy.
Another
thing worth mentioning is that in the TradeSmarter platform, assistance
is never far away. You can see in the screenshot above that help is
available both on the left side of the screen, on the right side and at
the bottom of the screen.
TradeSmarter trades were executed simply and quickly, contributing to a positive overall experience.
Features
Most binary options brokers don’t offer many extra features, but we
found that TradeSmarter did offer a few more than the normal. For
starters, traders can get alerts when their options are set to expire,
which is extremely useful for those who tend to ‘set it and forget it’.
We also appreciated the full Binary Options Wiki, which answered all of
our questions as they pertained to binary options trading. Similarly,
the TradeSmarter blog offers regular market updates for some currencies
to give traders a broader understanding of what’s going on in the world.
Traders who deposit a mandatory minimum are also entitled to free
trading support and training. Despite repeated attempts to ask what this
minimum deposit requirement is, we found it difficult to find out what
this mandatory minimum deposit was. Insistent probing elucidated that
free support is offered to anyone who deposits $100 (or more). We were
happy to know that this training is widely available to TradeSmarter
traders.
Customer Service
During trading hours (Sunday morning through Friday evening GMT),
TradeSmarter offers assistance via phone, chat and email. Emails
submitted will receive an instant confirm so that traders can rest
assured that their inquiry was received. Nevertheless, we found that our
email never received a follow up response after this confirmation. This
may have been perhaps the only disappointment we encountered during our
entire TradeSmarter review. Fortunately, the company’s chat support was
extremely helpful, and we were able to find answers immediately via
chat.
Ease of Use
The TradeSmarter website claims that registration takes under 1 minute,
and we found this claim to be entirely accurate. We were extremely
impressed that the confirmation page offered direct links to Gmail,
Yahoo! and Hotmail so that traders can quickly access their confirmation
code if they aren’t already logged onto their email.
Deposits can be made in four currencies (USD, EUR, GBP and AUD), and
traders are lead directly to the appropriate page when they click on the
confirmation link. Multiple deposit methods are available including
major credit cards, PoLi and MoneyBookers, though PayPal is not
currently available. Because wire transfers can be used for withdrawals,
we assume that this is also a suitable deposit method. It should be
noted, however, that withdrawing to a credit card is free, while
withdrawing via wire transfer costs $30.
As we mentioned previously, TradeSmarter offers some of the most
comprehensive binary options resources and information on the internet,
which is clearly designed to ensure that traders know exactly what
they’re doing. Among the standout educational resources is the Binary
Options Wiki, which is something not offered by most other binary
options brokers. It’s almost a shame that this Wiki is hidden in the
footer of the TradeSmarter website. However, the company’s binary
options glossary is located in a more centralized position, and does
offer a good steppingstone towards a successful trading experience.
Another aspect of the TradeSmarter experience we appreciated is that
since we didn’t complete all of our information when opening the
account, they provided us a gentle reminder at the top of the screen
until it was complete, so that we’d know exactly what we need to do in
order to start trading.
Final Thoughts
TradeSmarter clearly makes an effort to cater to new binary options
traders, but its clever design and national regulation makes it a smart
choice for advanced traders as well. Although we always prefer the
availability of a free demo account, we felt that TradeSmarter provided
more than ample background information to get traders setup sufficiently
before trading.
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