Review of Binary Options Broker TradersRoom
Here are the basics on TradersRoom.com: The minimum deposit for an account is $250 (no fee on deposits made by credit/debit card). Fees on withdrawals range from $25 on wires or $10 plus postage on checks. Personally I’d go with the credit card refund or the wire. Who in heaven knows when you’d see the funds from the check – or if your bank would cash it given it will likely be from a foreign source. Accounts can be based in US dollars or Euros.
Trading Details
As previously mentioned, yields on in the money trades at TradersRoom pay out typically anywhere from 68-75% depending on the current market conditions and the asset traded. One interesting aspect of how they run their trading platform is that some binary options trading can be done on the quarter hour. This is a tremendous advantage for traders looking for a way to lock in gains while still trading open positions on top of the hour options.
Late Binary Options Trading Lockout Comes in Handy Too!
Another nice feature of working with TradersRoom is the very late lockout. Binary options contracts lockout only 5 minutes prior to expiration! This is the best I’ve seen in the industry so far, although some other companies do offer pretty late lockout times too.
Out of the Money Options Still Pay a Small Refund
Although one section of the website claims TradersRoom pays out 5-10% on out of the money contracts, their other page says they pay out 4%. At any rate this isn’t an amount of money that’s going to set the world on fire. Typically the binary options broker industry pays anywhere from 0-15% on out of the money binary options contracts.
TradersRoom Bonuses
TradersRoom does offer bonus cash on a limited basis. At the time of this writing no specific bonus cash offer was available, however other bonuses were. One example was that TradersRoom clients who deposited $5000 would receive a free iPad. That’s pretty cool I think.
The one downside to the bonus cash that they DO offer (when they offer it) is that they require the trader to trade 15 times the combined deposit plus bonus cash. That’s pretty high for the industry. Typically binary options brokers ask for anywhere from 2 to 10 times the deposit plus bonus amount to be traded. On the other hand, no other broker I saw offered iPads to clients.
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Also Don't Miss Out on the New Binary Options Trading SignalsBinary Options Contracts Offered
TradersRoom claims to offer the widest variety of binary options securities, and in fairness to them, they do offer a substantial number of contracts to trade. Here’s a quick low-down on the presently available contracts.
Stocks:
CITI MICROSOFT APPLE NIKE GAZPROM BP GOOGLE LUKOIL SBERBANK COCA COLA HSBC HOLDINGS ROLLS ROYCE BAE SYSTEMS TURKCELL
Forex:
USD/EGP USD/RUB USD/BRL USD/TRY EUR/GBP EUR/JPY USD/CAD USD/JPY GBP/USD EUR/USD
Commodities:
OIL PLATINUM SILVER GOLD
Futures and Indexes:
S&P 500 FUTURES SSE180 HANG SENG BOMBAY SE KUWAIT DUBAI QATAR EGX 30 TADWUL MSM 30 RTS MICEX 10 ISE 30 FTSE 100 CAC 40 DAX NASDAQ S&P 500 DOW
Visit TradersRoom.com
You review Traders Room, but they do not snswer, or respond to emails. Are they out of business?
Hi Morris-
I have heard from Tradersroom as recently as mid-august, haven’t contact them since however in response to your query I have attempted to make contact with them.
I will let you know anything I find out.
Tradersroom got in touch with me the following day, explaining that the telephone lines in their building were out of order and there was no way of contacting anyone, or receiving calls, so I am relieved that they are still in business. But as a result of my suspicions I got on the Internet to see if there was any commentary about that company, and sure enough, there exists a number of complaints, especially one which started out as follows” DO NOT!!…I REPEAT…DO NOT TRADE IN THIS SITE!! This is scary, making feel I have been victimized.
Hi Morris-
Thanks for sharing the info!
I heard back from my contact as well, they’re still a going concern. Honestly however, I would have to say Optionbit (US), or AnyOption (global), or optionFair (non-US) are the most reputable. Although I have had absolutely no problems with Tradersroom, I have had a much better personal (person to person) experience with the other three sites listed above – and I have had a LOT of contact with all three of them. They *GET* customer service.