TR Binary Options Review
When you open the TR Binary Options website, you might get a sense of déjà vu looking at the logo. This is because the “TR” is in the same font as the old TradeRush logo, and indeed, TR Binary Options is a re-branding of TradeRush. TradeRush has undergone quite a few changes, so it is well worth taking a closer look at TR Binary Options and what the site has to offer.
First things first. TR Binary Options is owned and operated by Melnic Group Ltd., based in Bulgaria. The broker is currently unregulated, but still does not accept customers from the USA. TradeRush has had a strong reputation in the binary options community for a long time now, so that same solid standing carries over to TR Binary Options.
Opening an Account on TR Binary Options
After you register on TR Binary Options, you can make a deposit to open an account. Your options are:
- Beginner Account: $200+
- Semi Educational Account: $5,000+
- Full Educational Account: $25,000+
- Semi Advanced Account: $50,000+
- Full Advanced Account: $100,000+
Account currencies offered include US dollar, euro, Australian dollar, British pound, Russian ruble, Canadian dollar, Japanese yen, and Swedish krona. You may deposit via credit or debit card, wire transfer, CashU, or Neteller.
There are bonuses offered starting at the Semi Educational Account tier. Bonuses start at 50% and range up to 100% at the top tier. You can also opt for trade insurance ranging between 25%-100%, but the total amount cannot equal more than the total amount of your deposit.
This is actually a very nice feature. Bonuses come with strings attached, and a lot of traders would prefer to skip out on them altogether. Some brokers force you to accept a bonus, but at TR Binary Options, you can opt for the trading insurance instead.
At the bottom of the accounts page, you will notice that “supervised demo accounts” are offered as well. This feature looks to be highly restricted, and appears to be contingent upon your deposit amount. You probably will not get access to an unlimited demo account; most traders look like they are stuck with 30 days or less to practice. This is better than nothing, but not really sufficient. There are other brokers that offer unlimited demo testing. With unrestricted demo testing, you can continue testing as long as necessary before you risk real money.
As to other educational features and trading tools, TR Binary Options appears to be quite generous. Even if you open a Beginner Account, you will get access to educational videos, an eBook, market reviews, webinars, and 24/7 support. You also get an account manager for the first month. As you climb up the tiers, you are given more benefits, including additional webinars, academy sessions, bonuses and trading insurance. At the highest tiers, you also can earn interest on the money in your account.
TR Binary Options is very reasonable when it comes to withdrawing your money. There is a minimum withdrawal threshold, but it is only $10 if you are using a credit or debit card. The threshold for a wire transfer is $100. On most other binary options sites, $100 is typical as a minimum threshold for all methods.
You don’t appear to have much to worry about in the way of fees either. TR Binary Options states that withdrawals processed via credit card are free. Wire transfers are $30 (which is the industry standard), but the first one each month is also free. So when you want to withdraw your money, you can withdraw all of it. On competing sites, you can lose quite a bit through fees.
Trading on TR Binary Options
When you trade on TR Binary Options, you will be using the popular SpotOption platform. This platform is practically ubiquitous; the vast majority of binary brokers are using it, so there is a chance you already know exactly how to use it. If not, you can easily learn your way around in minutes. You can trade on your desktop or laptop.
There are 182 financial instruments you can trade on TR Binary Options including stocks, currencies, indices, pairs, and commodities. That is a very large selection, better than you will find on most binary options websites. There are also quite a few different types of trades: High/Low, Long Term, 60 Seconds, Pairs, One Touch, Ladder, and FX/CFD. So this gives you numerous opportunities to make money using different strategies.
The minimum trade size is only $10, and the maximum is $2,000. This is a lower floor and a higher ceiling than is typical, which is great for those with larger and smaller bankrolls. By contrast, a lot of other sites will force you to start out trading $25, which would be a bit high for those making just the minimum deposit.
Various tools are offered to help you trade. You can view social trading right there on the platform, and you can also use double up, rollover and early close to control your trade exits. You also can get out-of-money refunds on losing trades ranging up to 10%.
If you need help while trading, you can contact customer service via live chat, telephone, web form or email. No one was staffing the help desk when I checked, which was discouraging, but I had good experiences with TradeRush customer service, so perhaps this was a one-off. Still, I recommend you check in with customer service and test them out for yourself. Make sure you are pleased with the service that TR Binary Options offers and feel comfortable depositing your money.
Conclusion: TR Binary Options Is Still a Good Choice for Traders
TradeRush has added and changed features over the years, and obviously now has a different look and feel. But as the newly re-branded TR Binary Options, it continues to offer a high quality service. Everything I have seen researching this site indicates that it remains a solid platform and a good choice for traders who are outside the USA.