TraderWorld (Inactive) Review
| Broker | TraderWorld (Inactive) |
|---|---|
| US Traders Accepted | |
| Company Name | TraderWorld |
| Headquarters | United Kingdom |
| Regulation | FCA (registration #613078), CySEC (license #210/13) |
| Bonus Type | Deposit bonus |
| Bonus Size | 100% |
| Max Payout | 85% |
| Out-of-Money Reward | 10% |
| Trading Platform | SpotOption |
| Deposit Options | Credit/debit cards, wire transfer, CashU |
| Deposit Currencies | USD, EUR, GBP |
| Minimum Deposit | $5 |
| Minimum Trade | $5 |
| Maximum Trade | $1,500 |
| Online Since | 2012 |
| Trading Instruments | Stocks, Forex, Commodities & Indices |
| Number of Trading Instruments | 153 |
| Binary Option Types | Call Option & Put Option, One Touch, Option Builder, 60 Sec, Open Platform |
| Customer Support Types | E-mail, by phoning one of the satellite offices or through on-line chat service |
| Education Offered | How-to-Trade, Demo Video, Binary Options Learning Center, Call from a trading coach |
| Tools Offered | Daily Market Review, Weekly Market Review, Expired Rates, Binary options trading strategies, Live Financial News |
| Languages | English |
| Demo Account | Yes |
TraderWorld has been closed down. The review below is presented for the archiving purposes.
TraderWorld is a relatively new consumer trading company, founded in 2012, offering a professional trading opportunity to their worldwide clients. However, they do not serve the US-based clients. TraderWorld relies on the same intuitive and easy to use trading platform of SpotOption which is very popular in the industry. Traders who are already familiar with the platform can find it easier to start trading with TraderWorld. In general, their minimum deposit amount is $5, while a free demo account option is also available.
TraderWorld claims to serve the global clients but they support only English language. Like several other brokers, they do not support any European or Asian languages. Moreover, they have a chat feature but you may have to wait unexpectedly long before a customer care representative joins you to answer your queries. This shows that they need to work upon on their customer support mechanism. A better customer support always contributes to the business growth. However, they maintain an impressive asset portfolio, with more than 80 financial instruments from different markets. One can fund their account with $5 and can start trading assets picking from their significantly large portfolio. They have different modes of funding including credit cards, bank transfers and CashU. All withdrawal methods are free from any commission, except the fees collected by the system from the receiving party (if any).
Trading Choices
TraderWorld brings you a selection of 83 financial instruments from different markets. So, you will have numerous choices and can pick assets of your suitable choice. They offer an average In-the-Money ranging between 68% and 80%. So, you will have good profit making opportunity indeed. At the same time, they try to save you from losses by offering you an average out-of-money reward of 5-10%. TraderWorld offers you different Stocks, Forex, Commodities and Indices for you to invest in and they provide you with an opportunity of investing in conventional binary options as well other non-traditional options. With a minimum investment of $5, you can invest in their regular binary of Call & Put and can earn a profit of up to 80%. They also have Option Builder for the traders who love to trade by picking assets of their own choice and also choosing a suitable expiry time. While more experienced traders can take the risk of investing in their One Touch and can earn a huge profit of up to 600%. Their 60 Seconds option is for the Speed Traders who want to make quick 75% earning in just 60 seconds. They also offer an Open Platform to ensure a great degree of flexibility to the traders and an earning potential of 73%.
TraderWorld constantly offers 100% bonus as an opportunity to increase your starting capital. Of course, there is a catch. If you earn a bonus, in order to withdraw it, you will have to execute a trade of thirty times of this bonus amount. Sounds tricky? Yes, it could be, particularly if you are new to trading and cannot afford to trade thirty times to withdraw your bonus.
Technical Analysis
TraderWorld endeavors to bring several kinds of technical tools that can make their trader’s work easier. Traders can consult their Daily Market Review and Weekly Market Review to stay updated about the market developments. They also provide Expired Rates of the assets, which could be particularly of great help for the traders who want to use their Option Builder opportunity. Traders can also access to Live Financial News to get regular market updates and stay informed to make a decision in a sensible manner. They also offer you the trading strategies that bring you an in-depth analysis of the market and help you develop precise trading strategies for making profits from your trades.
Learning & Support
For the beginners, TraderWorld has a specific Binary Options Learning Center on their website, which could be very helpful for the newcomers to learn everything about financial trading. Besides, a new trader can request a call from their one of the trading coaches who will try to answer all queries and will guide the person to learn ins and outs of the binary options trading. One can also glimpse through their How to Trade section and the Demo Video available on their website. The video can also be very helpful in understanding about binary options and learning about opening and funding account to open a position to make profits.
For support, you can make a call to one of their satellite offices or send them an email. They also have an online chat service, but sometimes it could be so frustrating, as you may find all the executives busy with other customers. You need to be really patient before one of their customer care executives appears online to interact with you and answer your queries.
Conclusion
TraderWorld can be considered as a friendly broker for the beginners, as they offer sufficient resources for them to learn everything about binary options trading. Their low minimum account size and free demo available without any special conditions can be quite helpful to new traders. At the same time, their bonus policy seems not to be appropriate for the newbie traders. The condition of trading 30 times of the bonus amount seems to be difficult to be met by the newcomers. Their credibility could be a big advantage for an experienced trader though as they are in at least two European jurisdictions. The average profit level is quite high and the availability of a large number of assets can attract the attention of the experienced traders towards them. Moreover, they are using the SpotOption trading platform and thus experienced traders who are already familiar with this platform will not find any difficulty to start trading with them.
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I have been a full account holder with TraderWorld for just over a week now and I can honestly say that TraderWorld is a SCAM. Firstly, Account balance takes over half a day to update which means that you never know what Your balance actually is unless you logout and log back in after every single trade, win or lose. Secondly, when some trades win TraderWorld will insist that the trade actually lost. And Thirdly, Sometimes When placing say a £20 trade and it loses, TraderWorld will insist the the trade that you placed was actually £250. This happened twice to me, therefore TraderWorld stole £460 from me and refuses to pay it back. My advice is to stay well clear of TraderWorld as the misconduct of this company is atrocious.