TradersRoom – Review

TradersRoom is a binary broker operating out of Cyprus. The broker’s platform is powered by SpotOption – a leading provider of binary brokerage software solutions.
With TradersRoom you can trade using two different ways: ProTrader and FastTrader. ProTrader is just a regular binary option platform, while FastTrader shows you a more compact view that I don’t find to be particularly useful (it only has the return percentage and the expiry time of the options with no graphs).

Options Return

The returns of TradersRoom are a bit low, compared to those of other brokers: are not the best you will find but they’re not the worst either:
• For High/Low options the return for EUR/USD is 71%, for Gold – 71%, and for Oil – 70%.
• The return for 60 Seconds options is 72% for EUR/USD and 70% for Gold.
• One Touch options offer a return rate of 400%.

Let me give you an idea what do these percentages mean. Say you deposit $500 and start betting $25 per option. With a return rate of 71%, you would have to win at least 58.5 out of every 100 bets in order to break even and start returning your investment. Other digital options providers offer you far better returns: at Dragon Options you will have a typical return of 75% on High/Low EUR/USD options, and OneTwoTrade’s return rate for the same asset is 85%, which significantly increases your chances of profitability.

Bet size & refund

Bet sizes: The minimum bet size here is $35, which is a bit steep, given that binary brokers usually start at $25 (TraderXP), or even $10 (iQ Option (www.binary24.de/broker-vergleich/iq-option). At BDSwiss (Review here: http://www.binary24.de/broker-vergleich/bdswiss) you can place a bet for as little as $1. The maximum amount you can place on a single bet is $1,500. Refund: If you lose a bet (e.g. the option expires out of the money), you automatically get a refund of 4% credited to your balance. Whenever brokers offer such refund, its amount usually ranges between 1% and 10% so TradersRoom’s cashback is about average.

Account Types

Depending on your deposit, with TradersRoom you can sign up for a Bronze, Silver or Gold account:
• Bronze: $250 – $999. With this account type you will be getting a monthly call/chat with an account manager.
• Silver: $1,000 – $4,999. Silver account holders will get a chance to talk to their account managers once a week, and they are also entitled to special bonuses.
• Gold: $5,000 – $20,000. If you have a Gold status account, a personal broker will be calling you every day. I would probably get really annoyed but hey – that’s probably what TradersRoom considers to be good customer service. Apart from that, you’ll be eligible for bonuses and priority withdrawals.

Option Types

High/Low: Also known as Put/Call options, these are the most popular options you can bet on. The basic principle is simple: you place a bet on whether the price of a value (NASDAQ or Gold for example) will go up or down. Then you wait for the option to expire and if you have guessed right, you collect your winnings. If the option goes opposite your prediction, you lose the bet and get a refund. The expiry time for High/Low options on TradersRoom is 10 minutes.

60 Second: These are pretty much the same as High/Low options but the expiration time is 60 seconds instead of 10 minutes.
One Touch: That’s an option type that carries high risk and low probability of winning randomly, and that is why it offers a super high return of 400%. If you don’t just gamble but bet after analyzing the market, you may give these options a try.

Here’s how they work: you have a pre-set level and you need to guess whether the asset’s price will reach that level. In case it does, the option is settled immediately and your profit is added to your account balance.

Deposit and Withdrawal

To start betting on TradersRoom, you would have to make an initial deposit of at least $250 and you can do that via bank wire or credit card (all major cards are supported).
Withdrawals are possible through credit cards, wire transfer or check (keep in mind that while the others are processed free of charge, for check withdrawals you will have to pay a fee of $10). The minimum amount to be cashed out is $100.

Bonuses

TradersRoom offers deposit bonuses and daily promotions but you would need to contact the customer support to find out more about these. Generally all the broker’s bonuses come with a release condition: in order to redeem the bonus, you would need to wager 15 times the bonus+deposit amount. Find under www.binary24.de/ratgeber/binaere-optionen-bonus-angebote a full list of all bonus offers.

Overall Impression

TradersRoom is an average Joe when it comes to binary brokers: it doesn’t offer any special features, the returns are low and despite my numerous attempts, I couldn’t get in touch with the customer support. There is nothing to make me choose this broker over another one.