Utrader Review

BinaryOptionsNow | Published on June 12, 2016 at 12:34 pm

AnyOption review

Being a fraudulent broker does not always mean stealing money openly from customers. Sometimes it is just about considerably lacking innovation, if not worse. In our opinion, trading binaries at Utrader simply does not make any notable difference. In this review we are going discuss all ins and outs of this scam broker. Let’s begin!

Ultrader Scam Review


Utrader: What do we know about the Company?

Utrader entered the options market in 2011. The website is owned by Utrader Day Dream Investments Ltd Trust Company Complex in Majuro, Marshall Islands. However, if you read the information about this broker from earlier Utrader reviews you would see that the headquarters is located in Seychelles. Frankly speaking, this is quite disconcerting.

Utrader is now in the progress of obtaining a CySEC license. However, we do not think that if Utrader was offering at least satisfactory trading conditions it would take as long as 5 years to become regulated. Therefore, your investments are at risk as Utrader is currently unregulated brokerage firm.

However, it is known that Utrader is regulated in Russia, having a CROFR license, although it is not important for the majority of EU clients. In addition, US traders are not allowed at Utrader.

Utrader binary broker: Customer Support

During our research, we discovered that the Utrader main customer support office is located in Riga, Latvia. As for the website, it is operational in 4 languages: English, Russian, Polish and Dutch. The support is supposed to be multilingual as well.

Customer support can be reached by using email, phone and Skype. Utrader offers live chat too, though it was not functional when we tried to test it.

Utrader Review of Trading Accounts

Utrader offers 5 account packages. We tend to think that the features are quite unbalanced when looking at the accounts’ comparison. You can witness that by checking out the images below:

Utrader Review of Trading Accounts


Although these features might look decent at first sight, accounts do not grant really unique opportunities like at 24option as an example. Most features presented in Platinum and VIP accounts are pretty standard and should be included in less expensive packages.

Ultratrader accounts

Besides, Utrader scam does not offer a demo account. Thus, there is no possibility for newbies to test their skills in real trading environment.

Utrader Trading Platform Review

Utrader has introduced a pretty limited version of SpotOption platform. We do not say anything bad about SpotOption itself, since it is the most popular binary platform. However, its features are much broader than you can observe at Utrader.

At this broker you are allowed to trade a standard set of financial instruments: stocks, indices, commodities and currencies. You are not enabled to trade Forex or CFDs at Utrader right now. As for the binary trading types – choose between basic options, Turbo Options, Long-Term, Pairs and One-Touch. Utrader platform does not offer any social trading features.

Utrader Trading Platform Review

Utrader Review: Available Promotions

If you expect Utrader to offer a huge variety of promotions you will most likely be frustrated. Utrader offers only two promotions: Welcome Bonus and Insurance promo. The percentage of bonus amount granted by Welcome Bonus is different among the trading accounts. It starts with 50%.

As for the Insurance bonus, Utrader promises to ensure the 100% deposit return on some of the trades, during which a client incurred losses. Even though it is a good bonus, do not forget that you deal with the fraud. Since there is no sensible reason to trust the unregulated broker, we recommend you not to accept any promotions offered by Utrader.

Utrader: Deposits & Withdrawals

To fund the account at Utrader, one can use Skrill, Neteller, WebMoney, OKpay, credit cards and wires. Minimum deposit requirement is $300. However, do not place your money at the scam.

Unfortunately, we did not manage to find any sufficient information concerning the withdrawal policy, only that the withdrawal request is processed within 2 days. Which is a lie, of course.

Utrader binary: Conclusion

Utrader does not offer anything which has not been introduced before. Moreover, there is no potential for Utrader to attract a lot customers just due to the absence of an internationally recognized regulation. Thereby, keep your money safe – deal only with reliable binary brokers.

Choose good broker from our best binary brokers list.


GD Star Rating
GD Star Rating
Utrader Review, 5.0 out of 5 based on 3 ratings



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