TRBinaryOptions

TR Binary Options is owned and operated by Cheshire Capital Ltd., a company with a listed address at Cavell House Stannard Place, Crispins Rd, Norwich, NR3 1YE, United Kingdom. They launched in 2011 but until recently they were called TradeRush, a name that many of you may be familiar with. They’ve changed names and also the owning company is different (TradeRush was owned by Marblestone Partners Ltd.). Currently they are not regulated but according to one of their representatives, they’ve taken the necessary steps, pursuing regulation. Take what steps you need, but walk faster because a lot of time has passed since your 2011 launch.

Is TR Binary Options A Scam?

Nothing points to TR Binary Options being a scam broker. Although they recently changed names and owning companies, they are an old timer, with plenty of experience under the belt and a reasonably clean reputation. The big minus is the lack of regulation and we’ve talked many times about this: Reputation over Regulation. Is it better to join a regulated brokerage with a bad reputation or an unregulated brokerage with a spotless reputation? My answer is simple: if you can’t find a regulated broker with a great reputation, then stay away from trading until you can. Of course, that doesn’t make TR Binary Options a scam.

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Editor’s Note – Why TR Binary Options Sucks in 50 Words

I cannot pinpoint the exact reason but this broker looks and feels dull. The website has the same old content that we see on all brokers; they offer “the best online trading experience on the net” and are the “ongoing leaders in the industry”. When are brokers gonna stop blowing their own horn? Probably never and that sucks.

Why TR Binary Options Doesn’t Suck In 50 Words

I like the Economic Calendar that’s present right on the first page. Yes, I know a lot of brokers have it (although it’s harder to navigate to) and that many other websites have it, but that doesn’t diminish the merit of TR. After all, I want as much information in one place as I can get, not scattered around the website.

Should I Open an Account with TR Binary Options?

TR Binary Options trading platform is the ever popular SpotOption, version 2.0 and you will find new features such as Ladder Options and Spot Follow. The former is explained in our article Types of Binary Options – A Straightforward Explanation and the latter is an easy to use social wall where you can follow other traders and automatically copy their trades. The education offered by TR Binary Options is almost identical to all other SpotOption brands – it’s not bad but rather shallow and touches only the basics. However, for registered users education goes into more detail but don’t expect holy grails.

The account packages start at $500 and go as high as $25,000 but what bothers me is that they recommend the Silver account, which requires a deposit of $5,000. That is a lot of money and I wouldn’t recommend anyone to start with such an amount, but then again, I don’t have a brokerage business to run. Putting that aside, I can say that overall they are not bad, but don’t excel in any areas; they are exactly what you would expect a SpotOption brand to be: functional and easy to use but mediocre.

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TR Binary Options Complaints

There’s not much information about TR Binary Options online, probably because they didn’t operate for long under this name. TradeRush (the old name) on the other hand has quite a few complaints but since we are talking about a new company, we cannot blame them for the sins of the previous owners. That being said, we will keep monitoring to see how the new company conducts business and what clients will have to say about them.

TR Binary Options Bonus

The bonus starts at 25% for the lowest account (Mini – $500 deposit) and goes as high as 100% for the Platinum account (minimum deposit $25,000). The required turnover is not fixed and according to their website “the terms and conditions associated with any bonus rewards are subject to change”. We recommend you ask for a written agreement before accepting any type of bonus. They also say that the volume “may be” 30 times for every $1 received as a bonus and that no funds can be withdrawn before the turnover is reached, including your original deposit. I’ve said it many times and I will say it many more: not allowing clients to withdraw the bonus until a turnover is reached is fair, but not allowing them to withdraw their own money even if they forfeit the bonus is outrageous.

TR Binary Options Withdrawal

A normal withdrawal will take about 7 business days, the minimum sum is $10 for credit cards and Neteller, and $100 for wire transfers. All funds invested via credit card must be withdrawn to the same card, wire transfer withdrawals incur a $30 fee but the first one of each month is free.

TR Binary Options Ratings

User Friendly 18/20

The website is easy to navigate, is translated in 8 languages and the SpotOption platform offers all the great functionality that we are used to. There are no missing or broken links and overall it’s friendly to its users.

Number of assets and expiry times 18/20

The asset index is composed of 82 stocks, 29 currency pairs, 9 commodities, 36 indices and 25 pairs, putting them in the mid-to-upper echelons compared to other brokers. The expiry times range from 60 seconds to 6 months, with the option to trade Touch/No Touch and Ladder.

Commissions, Support and Effective return 17/20

TR Binary Options charge a $30 fee for wire transfers but the first withdrawal of the month is free, which is a good thing. The support is quick to answer questions and polite but not all questions were answered in the first attempt. The effective return goes as high as 81% but of course not all assets will have this percentage.

Deposit, Payment and Bonus 15/20

The minimum deposit is $200 but the lowest account is $500. When I asked a representative about this discrepancy, she told me that even if on the Accounts page they have listed $500 as the minimum sum, you can deposit $200 but you will have limited support from your account manager. I say that’s a good thing. Deposits and withdrawals can be made through the normal methods: credit cards, wire transfers and e-wallets. The bonus can go up to 100% (for the Platinum account) and the required turnover may be 30 times for each 1 dollar received as a bonus.

Website Extras 11/20

As mentioned before, nothing stands out of the ordinary. Things like Ladder Options and Strategy Advisor save a little bit of face but these are mostly the merit of SpotOption.

TR Binary Options Overall Rating = 79/100

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