Review of TropicalTrade
Tropical Trade
Details
| Broker | Tropical Trade |
|---|---|
| Website URL | https://www.tropicaltrade.com/ |
| Founded | 2015 |
| Headquarters | Kingston |
| Support Types | Live Chat, Support Mail |
| Languages | English |
| Trading Platform | Panda TS |
| Minimum 1st Deposit | $200 |
| Minimum Trade Amount | $5 |
| Maximum Trade Amount | $5000 |
| Bonus | Up to 100% Deposit Bonus |
| Payout | 85% |
| Free Demo Account |  |
| Account Types | Basic, Professional, Expert, VIP, Corporate |
| Deposit Methods | Visa, MasterCard, Wire transfer, Electronic payment |
| Withdrawal Methods | Visa, MasterCard, Wire transfer, Electronic payment |
| Expiry Times | 30sec, 60sec, 2min, 5min, 15 min, End of Day, End of Month |
| Types of Assets | Currencies, Stocks, Indices, Commodities |
| Option Types | High / Low, One Touch, 60seconds, Boundary |
| Account Currency | USD, AUD, CAD, EUR, GBP |
| US Traders Allowed | |
| Overall Score |
Pros
- Low minimum investment
- Accepts US Trades
- Excellent returns
Cons
- Only available in Engish
About TropicalTrade
TropicalTrade is a binary options broker and online asset trading website that has over two hundred different trading items for users to choose from and a low minimum investment to start trading. It handles trades in real-time with most trades going from start to finish in under half an hour.
TropicalTrade boasts advanced security tools that allows its users to know that their earned assets and personal information are always accurate and protected, while also making their trading application easy to use. For those who are new to the asset trading scene, there are even online classes, one-on-one training sessions with brokers, and other tools to explain the finer details of how the website works and how to successfully trade different items.
Anyone with who can deposit funds from a credit card or a wire transfer can join TropicalTrade. It has numerous trading tools available for users to choose from and a large selection of asset types to choose from, including currency pairs, commodities, stocks and indices.
History/Background
TripicalTrade was founded in 2015 and was made available to the public in January of 2016. It is owned by Cumberland Capital, a an investment-banking firm that provides capital advisory services, and has jurisdiction in Kingston.
Geographical Spread
Even though TropicalTrade is a European broker website it is available for almost anyone to use. It has thousands of accounts all over the world. United States traders were included when it began but they are no longer allowed to open accounts. The TropcialTrade website can be translated into English or Italian and uses the United States dollar, Australian dollar, Canadian dollar, British pound and euro as valid currencies.
Services
TropicalTrade has real-time trading and over two hundred asset options available to its users. However, what really sets it apart is its online trading sources and customization tools. Unlike some brokers, TropicalTrade wants users to understand and enjoy using the website. Having seasoned investors with a good understanding of how trading and financial markets run help those who have less experience make educated and more profitable choices. This invaluable education can lead to a higher return on investments and a generally happier user base. There are also several videos and articles that break down trading techniques as well.
TropicalTrade also offers its users a increased level of customization to make their trading experience one of a kind. Most of this customization occurs through the form of different alerts, whether by email or on the website, that signal the user to specific trades or pricing options that they are interested in. These alerts are activated the moment a trade becomes available allowing the user the most amount of time to see if they are interested.
What Can You Trade
TropicalTrade has four available assets available for users to trade. They are currencies, commodities, stocks and indexes. Currencies are types of money, commodities are items or goods, stocks are shares of a company and indexes are multiple stocks represented as one whole.
These four assets can be traded in four different ways: High/Low Trading, Touch Trading, Range Trading and Hyper Trading.
High/Low trading involves the prediction of whether the value of an asset will rise or fall. Sellers want to sell high while buyers want to buy low. Traders can choose and asset they are interested in from a drop-down menu on the TropicalTrade website and watch live as its value changes.
Touch Trading has users predict if a specific asset will reach a certain low or high point during a set time. The value of the asset does not need to remain at the indicated price for the trader to earn money.
Range Trading is a more generalized trading method where the trader can pick up to five target prices for their asset choice. Based on their choice of target prices assets can be bought and sold within the range.
Hyper Trading has the concepts of High/Low Trading, but it occurs at a much faster pace. These trades are completed in minutes.
Trading Software
TropicalTrade uses the Panda Platform as its trading software that handles a binary options market. Panda is fairly young compared to other trading software but it has received mostly positive feedback from traders. It boasts a user-friendly interface which is easy to learn and navigate while also giving the required information on the overall process of binary trading. This allows both new and seasoned veterans to successfully make trades with TropicalTrade. The Panda Platform does not currently work on mobile devices. TropicalTrade is working on having an application available to users in the near future, making trades more convenient.
Bonus Offers
TropicalTrade has a few bonus offers to traders. These bonus offers are in the form of welcome bonuses and access to online help when traders create their account. The amount of the bonus depends on the account a user selects.
The Basic account costs $200 and provides a 20% welcome bonus. It gives access to a junior broker and TropicalTrade’s Education Center package #1.
The Pro account costs $2,500 and provides a 35% welcome bonus. It gives access to a senior broker and TropicalTrade’s Education Center packages #1 and #2. This package also has an hour of one-on-one personal training.
The Gold account costs $6,500 and provides a 70% welcome bonus. It gives access to a executive broker and TropicalTrade’s Education Center packages #1, #2 and #3. This package also has three hours of one-on-one personal training and three risk-free trades.
The VIP account costs $50,000 and provides a 50% welcome bonus. It gives access to a executive broker, a executive analyst and unlimited access to TropicalTrade’s Education Center packages. This package also has seven hours of one-on-one personal training and five risk-free trades.
The Corporate account costs $100,000 and provides a 30% welcome bonus. It gives access to a corporate broker, a corporate analyst and unlimited access to TropicalTrade’s Education Center packages. This package also has unlimited hours of one-on-one personal training and ten risk-free trades.
Customer Support
TropicalTrade has several educational options for users with registered accounts. There are even some of which are available to anyone. The FAQ section of the website is extensive and can handle most questions. For more complicated questions, TropicalTrade has several well-trained professionals that can be contacted via online support. Even though TropicalTrade has customer service representatives available to traders 24/7, the fact that the broker website is only available in English and Italian has limited the number of users.
Deposit & Withdrawals
TropicalTrade has several account types which require a deposit ranging from $200 to $100,000. The minimum withdrawal is $1. Both of which can be paid for with a bank wire transfer or a Visa, Visa Electron, Mastercard, Delta or Diner credit card purchase. There is no fee for purchasing with a credit card. However, there is a $25 fee for bank transfers. Withdrawals can take up to five days to be completed while deposits occur within the same day. There are plans for an online e-wallet option, which would decrease the waiting period on withdrawals, in the future.
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