This broker is closed.
A search for a reliable broker is never easy and it can often take some time to find the broker which provides all that the trader requires.
In order to facilitate the process, we have decided to compile another comprehensive review to present traders with key info on Tropical Trade.
In our Tropical Trade broker review we shall cover all the important elements which are useful to traders such s account types, minimum deposit, trading features, payment options and withdrawal process.
Tropical Trade appeared on the binary options market in 2015 and is owned by Cumberland Capital.
The minimum deposit for this broker is set at $200 which is slightly lower than the average in binary options trading. Maximum credit card deposit is $20,000 while there is no limit set for bank wire transfer. Minimum investment is $5 and maximum returns can go all the way up to appealing 85%.
The bonus available with Tropical Trade is unlimited but in order to be able to make a withdrawal a turnover of 30x is a condition that traders need to fulfill.
Available currencies are USD, EUR, GBP, AUD and CAD.
This broker does not accept traders from USA, Canada, Belgium, France or Australia.
Tropical Trade Trading Platform
Our Tropical Trade broker review was able to confirm that this broker uses PandaTS trading software on their platform which provides not only great trading experience but a very clear overview. It is both modern and user-friendly which makes it simple for traders to navigate, especially for those who are only just beginning to do binary options trading.
Trading options available with Tropical Trade are:
- One Touch
Expiry times traders can use with stated options include 30 sec, 60 sec, 2 min, 5 min, 15 min, End of Day and End of Month.
Under Assets Index in their Trading tab, traders worldwide can find all the available assets as well as corresponding underlying assets which they can trade with according to their preference. Trades will also find that trading times are included with each underlying asset listed in the index.
Additionally, traders can also utilize the possibility to try out social trading as well which basically allows traders to copy the trades of other successful binary options traders.
Demo account is not a trading feature available with Tropical Trade.
Another important component which we shall also touch upon in our Tropical Trade broker review is their superb Education Tab. In it traders can find Tropical Trade academy with video library, trading signals, eBooks and glossary. All these materials should be studied by traders in order to get better understanding of what it means to trade binary options.
Consequently, time invested in the education can only bring about better trading results.
Additionally, global traders should also consult FAQs since plenty of useful information can be found there. Tropical Trade Terms & Conditions are another part which should be read and understood since it contains all the important details concerning the way this broker runs their business.
Their platform is available in English and Italian.
Tropical Trade Account Types
Important segment in determining which broker to choose is also knowing about the account types the offer to their registered traders. For that reason, our Tropical Trade broker review also meticulously researched the account types available with this brokerage.
There are 5 account types in total which traders worldwide can choose from.
Tropical Trade Basic Account
- Minimum deposit $200
- Junior broker access
- Education Centre package #1 access
- 20% welcome bonus
Tropical Trade Pro Account
- Minimum deposit $2,500
- Senior broker access
- Education Centre package 1&2 access
- 1-on-1 basic personal training (1 hour)
- Trading signals (general)
- 35% welcome bonus
Tropical Trade Gold Account
- Minimum deposit $6,500
- Executive broker access
- Three risk-free trades
- 1-on-1 advanced training sessions (3 hours)
- Education centre packages 1 to 3 access
- Trading signals (general)
- 70% welcome bonus
Tropical Trade VIP Account
- Minimum deposit $50,000
- Executive broker and analyst access
- Five risk-free trades
- Education centre packages unlimited access
- 1-on-1 analyst training sessions (7 hours)
- Trading signals (personalized)
- 50% welcome bonus
Tropical Trade Corporate Account
- Minimum deposit $100,000
- Corporate broker and analyst access
- Ten risk-free trades
- Education Centre access unlimited
- 1-on-1 analyst training sessions unlimited
- Trading signals (personalized)
- 30% welcome bonus
Tropical Trade Customer Support Service
Another important segment that should not be overlooked is the quality of customer support service which why we are addressing it in our Tropical Trade broker review.
Fast, professional and helpful customer support service is an indication of a solid and reliable broker. We are happy to confirm that Tropical Trade Live Chat option functions seamlessly since all the questions we asked got a prompt and informative response from their agents.
While live chat way of communication is the quickest solution, especially when traders face problems that need to be resolved as fast as possible other ways of communication are also available. Email option at [email protected], as well as web form and phone are also possible.
For those traders who wish to communicate via phone numbers listed in Tropical Trade “Contact Us” section are for New York, Sydney and London.
Customer support agents are available to traders 24/7.
Tropical Trade Banking Information
Banking information and all connected to it is a sensitive part of any business since it deals with both personal and financial data. However, since this broker pays a lot of attention in providing safe conditions for their registered traders there is no cause for worry.
Latest SSL technology protects all data exchanged, be it of personal or financial nature.
When it comes to withdrawal policy, with Tropical Trade the process is easy and straight forward. Traders need to submit copy of the photo ID, utility bill to confirm their address and the copy of the credit card. This is the so called KYC policy and it serves to protect against any attempts at money laundering, fraud or identity theft.
Once this is finalized, global traders only need to submit withdrawal request which can be collated under “My Account”.
Payment methods available are:
- Credit/debit cards: Diners, Visa, Visa Electron, Maestro, MasterCard and Delta
- Bank wire transfer
Minimum withdrawal is set at $1 and all withdrawals made via credit card are charge free while $25 fee is charged for bank wire transfers.
All withdrawal requests are processed within 5 working days, provided the that all the required documents have been sent to the broker.