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7 Binary Options
We have found out that TradeThunder has shut down their operations.
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There is a new binary option broker that accepts USA traders and has an amazing trading platform. That new broker is called TradeThunder. Like its name says, they were taking us by storm as we did this review. They are an innovative international broker to say the least that is continually adding features that satisfy the many investors that use them to place binary options trades. Here is our review of this really good website to trade binary options on.
Online since: 2020
− Innovative and Unique trading platform
Best Binary Options Brokers 2020:
– Limited selection of currencies
7 Binary Options Rating:
Just like most binary options brokers, TradeThunder offers their investors several different account choices. The account level that each individual trader is assigned to is based directly on the amount of each trader’s initial deposit. Since all this is clearly explained on the website before signing up, each investor knows exactly what they are dealing with as far as accounts are concerned. Here are the various account types that traders can be assigned to on TradeThunder:
This level requires a minimum deposit of $200 – $599 and comes with a 40% signup bonus. Also included in the standard account level are invites to attend two free instructional trading webinars, a free binary options trading e-book and TradeThunder’s very informative weekly review of the market.
This level requires a minimum deposit of $600 – $999 and comes with a 60% signup bonus. Also included in this account level are invites to attend two free instructional trading webinars, a free binary options trading e-book, two weeks free trading signals and TradeThunder’s very informative weekly review of the market.
This level requires a minimum deposit of $1000 – $4999 and comes with a 75% signup bonus. Also included in this account level are invites to attend 4 free instructional trading webinars, a free binary options trading e-book, 3 risk free trades, one month of free trading signals and TradeThunder’s very informative weekly review of the market.
This level requires a minimum deposit of $5000 and comes with a 100% signup bonus. Also included in this account level are invites to attend all instructional trading webinars, a free binary options trading e-book, increased max trades to $500, free trading signals, binary option robot and five risk free trades and TradeThunder’s very informative weekly review of the market.
TradeThunder Trading Platform
This innovative web broker uses the unique ‘Leverate’ trading platform software. It features a trading platform that is changing the ease in which binary options trading is done on a website. It has some modern features in the platform that are unlike anything that is seen on other web brokerage platforms. It will utilize the full capabilities of your computer screen to bring you the ultimate trading experience. You can expect it to do such things as highlight asset choices, show you the binary options that can be traded with each particular asset and easily guide you to the high/low buttons as you select which way the asset will be trending at the expiration of your trade.
Unlike some trading platforms that other brokers have, the trade dollar amount on TradeThunder is always set to zero; this will help eliminate placing trades for amounts that were more than you intended to spend; believe it or not, this happens more often than you think on most other binary options trading platforms. This will allow you to select the amount you want to spend on a trade from the minimum amount of $1 up to the maximum amount for your account level. The low trade minimum dollar amount means you can afford to risk losing just a little money going after some big returns on investment.
It is good to see trading software like Leverate BX8 finally bringing some badly needed trading platform changes to the world of binary options trading; the industry had up until this point been dominated by only two different types of trading platform software. In our opinion this could be the most relevant reason to use the TradeThunder web broker. It is a platform that is designed to be especially fast and be easily navigated by a series of simple ‘one click’ functions. It makes it easy to place binary option trades with any of the over 80 assets that this web broker offers.
TradeThunder Support and Services
This broker provides a more than adequate means of customer support through all the usual channels. We made several attempts to contact customer service through live chat and were satisfied every time but one when they told us that time to submit our question by email. We do not feel that live chat support should ever have to defer a question to e-mail because they are basically being answered by the same people. This is one of the very few negative things we found with TradeThunder in our review and it is a minor one that is easily correctable.
Banking and Company
The TradeThunder account minimum deposit is a low $20; that figure is a lot lower than most binary options brokers in the industry. That means traders with a variety of different income levels can join and use TradeThunder. Not only is their initial deposit low but there minimum trade amount is a low $1 too.You can use Visa or MasterCard to make your deposit and they also accept bank wire transfers.
Withdrawals with this web broker’s banking platform generally take three to five business days which is directly in line with the majority of the binary options brokers that can be found in the world of binary options trading. That claim to have low fees that are associated with their withdrawals too.
We opened a standard account with which to do our review and we found that its many features were as good as or better than advertised. Trading was straightforward and easy to understand and initiate.
Our Final Thoughts about TradeThunder
This is really a pretty good website with which to place your binary options trades. They have proven themselves over time to be trustworthy and have a unique trading platform that helps those who trade with them to be as successful as possible with their binary options trading. In all honesty, we have no problem recommending this site if you are looking to start trading binary options or want to try a new binary options broker that does things a little different than all the rest. It is a site that has all the ingredients to make any binary options trader profit consistently.
Customer Service: Live Chat / Email: [email protected]
TradeThunder is an unregulated binary options broker owned by a company called Thunderstruck Investments Limited and based in Roseau, Dominica. While the website is open to USA customers (and traders from around the world), it is a mixed bag. There are a few nice features, but on the whole this broker is lacking in many respects.
To start with, it is somewhat humorous that the homepage promises, “Lightning Fast Trading.” There is no indication that trade execution is actually slow, but the website sure loads slowly. There are also errors and missing pages. The missing pages will probably be added over time, but TradeThunder should definitely fix their signup form if they want customers to actually join the site. At the time of this review, you get an error if you even try.
TradeThunder Account Tiers
If you can manage to get through the signup screen, you can choose to either demo test or deposit money for a real account. You will need to contact customer service to get access to a demo account. No restrictions are mentioned, so the demo account is one of the site’s better features.
If you do decide to make a deposit, you can choose from the following four account tiers:
Note that the minimum deposit to open an account is actually just $20, which is great for beginners who do not want to get too invested yet in their trading. But you don’t get the Standard account benefits unless you deposit $200 or more.
At the Standard level, you get access to weekly market reviews, two free webinars and a free eBook. At the next level up, you tack on two risk-free trades and two weeks of free signals. At the Pro level, you get three risk-free trades and a month of free signals. If you open a VIP account, you get five risk-free trades and free signals. Signals and risk-free trades are both excellent benefits. More and more webinars are added on the higher you go in terms of account tiers as well.
This page lists the minimum and maximum trade sizes. The minimum trade size is just $1, which is outstanding for newbies. Discouragingly, however, the maximum trade size is $500. This is quite a low cap, which does not give you a whole lot of room to grow over the long term. This broker is definitely aiming its services at traders with small bankrolls (which is okay for most binary traders, since most binary traders have small bankrolls).
Withdrawal and Bonus Rules
The most interesting thing about TradeThunder is probably the site’s withdrawal policy. At a lot of binary options sites, your access to your funds is restricted when you accept a bonus. If you haven’t met the bonus turnover requirement, you cannot withdraw the money you deposit.
TradeThunder states clearly, “Our motto is simple, ‘Your money is your money.” YOU CAN WITHDRAW ALL FUNDS IN YOUR ACCOUNT, NO QUESTIONS ASKED!! There are absolutely no withdrawal restrictions when you receive a bonus.”
You still need to meet a turnover requirement to withdraw the bonus money, but the money you deposited is accessible to you.
What is also cool about TradeThunder is that the bonus money is released to you gradually. You do not need to meet the full turnover volume to “earn” the bonus funds. Each time you achieve a certain percentage of the required volume, 10% of the bonus money becomes your money. This is a unique policy, and a direction other sites should consider taking.
Trade on the Leverate BX8 Platform
TradeThunder uses a platform called Leverate BX8. This is not a particularly common binary trading platform, and it looks quite a bit different in terms of layout than more popular platforms like SpotOption. Once you get used to it, you will figure out where everything is and see that it functions much like other binary platforms. The bold colors and layout are appealing to the eye.
There are more than 80 currencies, commodities, stocks and indices on the site to trade. You can trade High/Low options as well as 60 Second options. This is not a tremendous amount of trade variety unfortunately. There also is no Early Close (or Double Up or Rollover) for you to use to control your trades. This is a major drawback! A lot of trading systems rely on Early Close to deliver profitable results.
Customer Service and Reputation
Customer service on TradeThunder is offered 24 hours a day via email, live chat, telephone, web form, and paper mail. No one was staffing the chat desk when I checked, which was disappointing. It was a weekend, however, so I was not surprised or too taken aback. Looking up TradeThunder’s reputation on third party sites, there was not a lot to find. One site mentioned putting them on a blacklist, but failed to provide a single reason for doing so. This is probably simply a tactic to get readers to click through to their affiliate sites.
Conclusion: Interesting, But Needs Work
I am very impressed with the bonus and withdrawal policies offered by TradeThunder, as well as the inclusion of a demo account. The low deposit and trading requirements are awesome for traders who are just starting out. So TradeThunder definitely has laid a groundwork for developing something exciting.
That being said, they are far from actually reaching it. They need to fix the problems with the website design, pages, and forms. They also need to introduce a wider variety of trade types, and make customer service more easily accessible via live chat. There is no way to even preview the trade page unless you register, and right now, registration is broken. TradeThunder has a lot of problems to address before I can recommend them, but I would certainly suggest keeping an eye on them. They may show more potential in the future.
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