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Great trading tools and options: TradeRush is an innovative and tempting binary options platform for serious traders
Here at Binary Option Insights we value binary options trading platforms that give an all over general experience, giving the greatest variety and ease of trading.
TradeRush binary options broker, doesn’t check every box on our list, but what it does do well are two of the most important features an experienced trader looks for: high quality trading tools and selection of trading options. For that reason alone we’ve looked beyond the fact that this broker is just starting out and allowed that whilst you feel there might be some aspects missing, they do the most important aspects well and are continuously improving and providing their binary option traders with what they need most.
Trade Rush still has a way to catch up with some of the more established online binary options trading platforms, but in such a changing and innovative market as binary options, one always has to keep an eye out for risings stars. TradeRush easily fits into this category, providing an easy to use online trading platform in SpotOption and giving binary options traders a fantastic range of financial tools and options to get traders excited.
Explorers beware however, as with any ‘less than charted’ waters, the maps and guides available to help you use these new tools are not as comprehensive as we are used to and their withdraw policy leaves a lot to be desired.
With a total of 104 financial assets to trade in, the TradeRush platform provides an all round choice of options that’s hard to criticise. Are there binary option brokers who have more assets? Yes. Are there other brokers who provide less? Yes. Will you find all the main (and a little more) assets to trade? Yes. With 50 stocks, 25 currencies (forex), 10 commodities, 24 indices, TradeRush's overall amount of assets is above average. They also have added Stock Pair trading allowing you to bet on 12 pairs of stock combinations.
TradeRush expiry times vary, but they do have great 60 seconds trades available. Generally however you can choose any expiry time between 60 seconds to the end of the day or week. If you’re a weekend trader you might find yourself limited by the assets tradable and the fact that Touch Options only has a one week (Monday to Friday) option.
Again, we hate to throw that word around but, in the money returns are quite average at TradeRush. It’s hard to fault the middle of the line, but the numbers don’t excite us even if they certainly don’t make us uncomfortable.
However we’ve always said that returns is but one of the considering factors and not the main reasons to choose a binary options broker. After all 99% returns on nothing, is still nothing. TradeRush’s return may not be as high as some, but the tools they provide could give you a better chance to get your money back and more.
Saying that the effective return is average in the industry with 75% in the money and 70% average return for most assets, whilst the maximum profits is at around 81%. The out of the money refund is (again) average, between 0-10%. Nothing much more to say here, lets move along.
Let us start with the average news – TradeRush minimum deposit is 200 €/$. Not one for the casual trader or ‘try before you buy’. At Binary Option Insights we never understand brokers who don’t allow a minimum of 100 $/€ - enough to test out an account and keep trading, without excluding beginners. There are, however, no fees or commissions on the first deposit or purchase options and withdrawals are usually made via the depositing method, with one free wire transfer a month and 30$ fee for more in the same time period.
Now for the bad news – and it’s about withdrawing. Always a touchy subject for most. If you deposit using a credit card (to take the 200 $ minimum deposit, otherwise the number increases to 500 $), the maximum withdrawal via CC shall not exceed the deposited amount. A cynic could say that they are forcing traders to keep their winnings in their account for as long as possible, giving the trader more chances to lose their well earned financial bets. Why can’t you withdraw your profits in the same way and at the same time as you deposited?
A less cynical person could point out that you can take your deposit back in your credit card and your winnings on a bank transfer, but this is a far more convoluted process than it needs to be. If I deposit 200$ and win 200$, I want to be able to take my whole 400$ in one easy, simple hit. Not 200$ on a credit card and the rest in five or ten working days if I am approved in good time. Great financial trading tools or not, this is a serious setback for us. TradeRush withdrawal time is anywhere between a few hours with an e-wallet like Skrill or 3-5 business days for other methods.
This TradeRush broker has made some marked improvements in this area, moving from support only available via 2 international numbers - USA or UK, to multiple language support, including French, Arabic, Spanish, Australian and Japanese local numbers. The live chat service and email response is good and available quickly during most hours of the day, Sunday to Friday.
Local support numbers:
TradeRush offer their clients an easy to use native mobile app for iPhone users and Android users. The TreadRush mobile trading app is dedicated to make your trading life easier when on the move so you never miss a chance to make a bet. It contains all the assets and features of the Web platform and allows you to deposit funds into your account securely on the go.
If you are interested in trading binary options and in the financial markets then this binary options mobile app will be a great asset for you to compliment the web platform.
The saving grace. The financial trading tools that TradeRush provides are anything but average. Trade Rush came on the scene back in 2011 with the hope of being the ‘whizz kid’ – cleverer, better and more cutting edge. Whilst it hasn’t lived up to all its expectation, what it does have has impressed enough traders to create a real buzz around this broker.
Other than the 60 second options trades, which Trade Rush does very well and is perhaps the main feature of their options trading platform, the other tools are what makes the platform stand out.
The One Touch binary options for weekend trading is a nice financial betting option, even if the one week only option can be a little limiting. But their binary Options Builder, which allows traders to decide for themselves what will be the return and refund for a certain option stand outs above the pack.
And finally, their Pro Trader tool brings home the bacon, giving advanced traders many innovate trading charts and features. These great financial trading tools has brought this platform to the attention of the casual trader, thinking it will give them an edge to their fellow traders.
And whilst this might be true, our concern is the lack of any good demo options. This is the main selling point pushing TradeRush above the ‘average’ grade it keeps receiving, and yet there is no way of trying out these great tools or very good explanations. Traders don’t want to have to read through ten pages of instructions, and would much rather have a live demo helping them test out the system. Trading beginners and people short of patience, beware.
Unfortunately there is no TradeRush demo account on offer which is a shame as we believe it would help traders feel a little more comfortable. Their financial market news, however, is equally above average and they provide decent general trading demos and videos as a starter kit.
By now, you’re probable wondering why TradeRush is one of our recommended binary options brokers. Ultimately, we can see the potential. It’s a young brand, and despite what might seem like an average score, it continues to improve and try harder than the rest to improve and do better.
It may not shine above the rest in most aspects, but it’s pretty solid in what it does do. Ok returns, good customer services, enough assets, a generally well respected length of expiry times, the complaints here are simply that it doesn’t exceed, simply does it all well and solidly.
Can it improve? The withdrawal policy could certainly be a faster and more logical process, but if you want your money and you have some patience, it will eventually find its way to your trading account. Yes more languages would be welcomed, but considering that not so long ago the only language was English, they are taking considerable steps to improve. And of course, giving us a better understanding of its platform, with more comprehensive demos wouldn’t go amiss, but you could argue that half the fun is in the discovery of it all.
And let’s not forget those trading tools, the great web-based non-downloadable trading platform, the easy navigation and generally good trading experience. Option Builder, Pro Trader, 60 seconds and Touch Option are fantastic tools which show that this broker is not only here to stay, but likely to continue striving for perfection. What it does well, it does very well, what it does average, it strives to improve and what it does badly, is forgivable for most. What more can we ask for?
If you’ve been around the Binary Options trade for a while, open a free account with TradeRush. You might be pleasantly surprised in their platform and rediscover that first time joy of when you first discovered Binary Options.Start Trading with TradeRush »