Review by BinaryTrading.com
TradeRush is one of the biggest names in binary options trading right now; the company operates out of Limassol, Cyprus, and is currently in the process of becoming regulated by CySEC. Even though TradeRush has only been in operation since 2011, it has quite a following. One of the major reasons for TradeRush’s popularity is that the company accepts US traders. Other appeals include great deposit bonuses offered on all account types and trade flexibility in terms of expiry times and more. Excellent customer support is probably one of the single best features of TradeRush; let’s take a look at what they have to offer in detail.
One of the biggest drawbacks of TradeRush is that they unfortunately do not offer a demo account (though this seems to be a common plight among BO brokers at this point in time). Demo testing is a very important step in becoming a profitable long-term trader, so you will want to make sure you demo test somewhere before you go live. There are no registration fees for opening an account, but you’ll have to make a deposit before you can trade. Four deposit currencies are accepted (USD, EUR, GBP and JPY). The minimum deposit is 200 USD, EUR, or GBP, and there are many deposit options.
Five tiers of accounts are offered with generous bonuses for signing up. After you put in your initial information, you’ll select a Mini, Standard, Executive, Gold, or Platinum account. You get a 20 percent bonus for signing up even for the smallest account size (€250-499), and a 75 percent bonus if you sign up for a Platinum account (€10,000 and up). The upper tiers come with more benefits, like a dedicated account manager, same day withdrawals, additional training in money management, risk free bonus trades, professional analysis and advice. You even get a free iPad at the top level.
With TradeRush you can trade indices, commodities, currencies, and stocks; there are more than 60 financial instruments to choose from, which is great if you like variety. Three trade types are available including Call/Put (High/Low – it’s labeled simply as “Binary options” on the site), One Touch, and 60 Seconds. You’ll also notice tabs across the top of the trading platform which say “OptionBuilder” and “OptionPro.” This may be a bit confusing at first, but these refer to pre-set expiry times. Depending on the expiry times you choose, you can receive a larger maximum payout.
There is some more flexibility with trade sizes on TradeRush than we’ve seen on some other platforms. You can trade as little as 5.00 EUR (or your equivalent currency) on a 60-second option for example, or as much as 2500 EUR on an OptionPro or regular binary options trade. The minimum and maximum trade sizes depend on the expiry times. The trading platform is provided by SpotOption and is the same platform used by numerous other binary options brokers including Banc de Binary, Everest Options, OptionWorld, Option Trader, and €U Options. So you may already be familiar with the platform if you’ve traded binary options with another broker. You may even want to see if you can demo test with another SpotOption broker before you trade live with TradeRush so you can get a look at the platform and a feel for how it works.
Unfortunately at this point you still can’t trade with TradeRush on your mobile device, though they are currently working on getting their services prepped for Android. The platform is browser-based and runs in Chrome or Firefox, so no downloads are necessary and you can trade from anywhere, which is great.
Customer Support and Trading Resources
This was the area where we were most impressed with TradeRush. We’ve seen other binary options sites which are a little easier to browse for specific information, so when we didn’t find what we were looking for in the FAQ, we got in touch with customer service on live chat. A representative named Julie was immediately available to help us, and patiently answered a number of questions. She was knowledgeable, friendly, and clear with her responses. While customer service isn’t available 24/7 in every country, the quality of the service on live chat was great. We’re also impressed with the fact that there are toll-free phone numbers you can call for assistance. There’s also an email form you can use on the site if you prefer that method.
While the FAQ didn’t offer up all the information we were looking for at a glance, there is still plenty of information there, as well as an Options Trading Guide you can download for further information. You’ll also notice a Market Review section where you can check out daily, weekly, and monthly reports; if fundamental analysis plays a role in your trading decisions, you should find this tool useful. What’s also excellent is that at the Executive, Gold and Platinum account levels, you get additional trading tools such as money management training, a dedicated account manager, trading strategies, and professional trading analysis.
Overall TradeRush had very few drawbacks. While the trade sizes are somewhat restrictive, they are less so than those offered by some other brokers; a demo account would have been a great feature to include, and we would have preferred to be able to get a better look at the trading platform. There are only four deposit currencies available, and support for just three languages (French, English and Japanese), but US traders are allowed to participate. The trading platform has the advantage of being familiar to many customers who have traded with other BO brokers.
The best features of TradeRush are the support options and the many trading tools and resources which are provided free of charge. These support features increase with the amount of money you deposit. Customer service is fast, friendly and knowledgeable. At no time while checking out TradeRush’s services did we get the impression that this is a platform geared toward casual traders. While TradeRush would be great for casual traders, it also seems well suited to serious professionals.