Broker Review: TradeRush.com
TradeRush.com is an established Cyprus-based binary broker whose software runs on the famed SpotOption trading platform. Today we will analyze this broker’s advantages and discuss where we see room for improvement.
TradeRush offers binary options in several asset categories, including:
The selection of currency pairs is somewhat limited compared to some other options brokers, which may be restrictive to investors who are looking for a broad range of underlying assets to choose from when making trades. However, TradeRush compensates for this with a wide selection of commodities available for trade. Overall, the range of assets provided by this broker are largely sufficient for any trader.
Creating an Account
Creating an account on TradeRush is simple and straightforward, you must simply enter in your name, email and phone number. Those who have them ready can also send in a copy of their ID and a recent utility bill so their account is verified and they are able to easily make withdrawals. You can start making trades in less than 2 minutes after you’ve made your first deposit.
We were pleasantly surprised to discover that following the creation of a new account, an additional 5% bonus is offered if one is to deposit within the first 24 hours after the creation of the account. This bonus is on top of additional deposit bonuses that are offered. There is no registration fee and the minimum deposit to trade with a real money account is $200. TradeRush accepts deposit and withdrawals from Visa, MasterCard, Moneybookers, Liberty Reserve and wire transfers. Withdrawals are processed within 2-5 days depending on the payment method used.
One thing that stands out with the TradeRush.com user interface is its simplicity. In one click you can switch from a Stock binary option to a Commodity option. One is also provided with a list of the hottest assets the broker offers. This selection is useful for all newcomers to the world of binary options trading.
Once you have selected the asset you want to invest in, you only have to select a Call (you forecast that the asset will gain value) or a Put (you believe that the asset is going to lose value) option.
The platform indicates very clearly the potential payout for an in-the-money finish and the amount of time left before your option’s expiry.
You can also invest in more “sophisticated” options such as One Touch options and 60 second options (discussed in-depth below).
On the whole, the user interface is extremely simple to use, intuitive and is adequate for most option traders.
As mentioned above, TradeRush is the one of the few brokers so far to offer traders the ability to invest in 60 second binary options. These kinds of options offer standard returns – around 75% – but the expiries are one minute from execution so you don’t have to wait long to know if you’re in-the-money.
The 60 second option feature allows traders to select their asset and investment amount – starting with as little as $10 – and, once complete, you execute your order and watch the asset’s graph in realtime.
Another pertinent TradeRush feature is their One Touch and Dynamic One Touch (DOT) binary options. TradeRush offers one-week touch options that pay up to 700%, which is the highest payout ratio we are aware of for any kind of binary option. Traders must simply select from among the one touch options made available for purchase and then decide if they’re willing to trade the direction that the one touch option proposes for the underlying asset in question. One touch options are only offered at certain times – they’re always available on weekends, though.
The broker also recently launched what it calls Dynamic One Touch (DOT) options which enable traders to speculate if/whether a financial asset will or will not touch a specific value that is above or below its current value at some point before the expiry time for that option.
TradeRush definitely stands out with regards to its more “complex” options: 60 second options and DOT options. If you’re looking to diversity your investing with some exotic options, TradeRush is definitely worth a try.
Payouts and Commissions
TradeRush.com advertises a 70-81% payout on standard binary options, with no commission. When it comes to One Touch options, the returns can easily reach up to 700%. However, there is usually no refund for out-of-the-money trades, which is a significant disadvantage to many traders since most brokers provide a 5-15% guaranteed return on options that expire out-of-the-money.
TradeRush was originally primarily focused on the English-speaking markets such as the USA, Canada and UK although they have now expanded to the French market as well.
TradeRush has customer support phone numbers for USA, France, Canada and UK if you need to get in touch. The sales representatives are friendly and very knowledgeable when it comes to the markets. The broker even provides its traders with a comprehensive trading guide.
TradeRush.com is perfect for beginning traders who want either a wide range of commodity assets or access to “exotic” binary options such as One Touch options that pay up to 700% and 60 second options.
In sum, TradeRush.com is a promising broker that employs a user-friendly interface and offers standard binary options trading as well as more exotic options for those traders seeking to diversify their portfolios.