uTrader Binary Options Review

Site Overview
Starting with the platform itself, the team behind uTrader have clearly focused on simplicity and performance, as opposed to presentation. And while it may not sound like it, this is actually a compliment as far as we’re concerned. The predominantly white colour scheme gives you the impression that you’re dealing with a ‘by-the-book’ broker, as opposed to one predominantly interested in OTT visuals. In terms of performance however, there’s nothing stripped back or basic about uTrader. It all runs like a dream, which is impressive given their claims of 250,000 active traders doing business with them.

Nailing two of the common criticisms thrown at uTrader right away – no, 90 assets isn’t the biggest of libraries and yes, 85% maximum payouts don’t come close to those of some rivals. However, it’s worth bearing in mind that quality counts more than quantity with assets, while 90%+ payout promises aren’t worth jack when they aren’t kept. As uTrader focuses on quality and delivers on its word, we don’t see these bug-bears as problematic in any way.

Onto those all-important trading types now, it’s pretty safe to say that there’s no shortage at uTrader. These guys offer High/Low trading, 60-second options, One-Touch, Long-Term, Pair Options, Boundary Options and Ladder Options – all under one roof. Expiry time range from 30 seconds to 24hours, so chances are you’ll find something to suit your preferences.

There are four account types to choose from, ranging from the $300+ Start Account right up to the $25,000+ VIP Account. Cheaper accounts feature perks like daily market reviews, access to trading materials and educational guides, while premium accounts up the perks with strategic trading assistance and personal account management. But what all accounts have in common is the way the welcome bonus offer is presented at uTrader.

Instead of simply handing out credit, uTrader offers ‘Insurance’ to the tune of 50%, 100%, 120% or 150% of the value of the initial deposit. Which in turn translates to initial risk-free trades for those getting started with the broker. uTrader decides personally on exactly the scope of the risk-free trades allowed for each member uniquely, but it’s still an interesting alternative to standard bonus offers.

They also hold regular competitions, with impressive cash prizes to play for each and every month. For June 2016 for example, the top prize up for grabs was a tasty $25,000, though there were another 30 cash prizes on offer starting from $1,500. Like most, they’ve done a stellar job with their mobile app which has earned rave reviews by iOS and Android users alike.

Payments in both directions are nice and smooth, the customer care team is available 24/7 and we found them to be extremely friendly and knowledgeable when posed with even the most challenging question.

Which would wrap it all up nicely, if it wasn’t for one glaring omission – no demo accounts. In this day and age, not providing customers with the option of a demo account is bordering on the unacceptable. It’s not as if it costs the service provider to allow new customers to test the waters with virtual currency, though it’s a facility uTrader seems to have no intention of offering anytime soon.

We can only assume, therefore, that they’re more interested in roping in experienced traders, as opposed to first-time newcomers.

Best Features
The trading experience offered as a whole by uTrader is pretty great, but the best feature of all is the wide range of trading types available. They’ve basically pulled together what you’d expect from a handful of separate brokers and brought them all together in one place. We also found the platform to be superb and the mobile app to be one of the best around.

Conclusion
If you are a seasoned trader, knowing exactly what you are doing and fancy playing with a whole arsenal of trading types, uTrader will not disappoint. But at the same time, if you are a newcomer looking to test the waters for the first time and keep risks to an absolute minimum, uTrader is probably not the broker for you.