Is UTrader a scam? Check out ours and customers review

Utrader review

UTrader has an established position in Russia, but now it also caters to English, Polish and Dutch users, which may indicate the company's new direction.


Special offer!

Risk­free options: register here!

Register an account using our registration link (clear cookies before you use ctrl+shift+del) to have a chance at entering into a risk­-free transaction!

Details:

Deposit $200-250 ­ 2 risk­-free transactions up to 40% of the deposit
Deposit $251-500 ­ 3 risk-­free transactions up to 60% of the deposit
Deposit $501-1000 ­ 4 risk-­free transactions up to 60% of the deposit
Deposit over $1000 ­ 5 risk­-free transactions up to 100% of the deposit

Note that the deposit is refunded only when transactions result in an overall loss. Therefore, if 4 out of 5 risk­-free transactions have been successful, you will not get a refund. If the opposite is true and your overall transactions have been unsuccessful, your negative balance will be refunded. Such a refund is considered a bonus which can be withdrawn only once the minimum trading volume requirement has been met (20 times the value of the bonus received).

And there's more...

If you deposit $200-250 or over $1000, you'll get 10% additional bonus!


Sign-up to a broker from our link, spend a deposit, make a few transactions and get access to unique strategies and tools at our VIP ZONE!

UTrader has been a binary options broker since 2011 as part of Latvia-­based Day Dream Investments Ltd. that is registered in the Seychelles. As such, the broker is not subject to CySec regulations, but it is not necessarily a bad sign as long as the client support is handled professionally. Bear in mind, though, that there are no regulatory departments to call upon in case of problems with depositing or withdrawing funds.

The website is clean-­cut and modern. There's a registration form that cannot be overlooked: it's right there in the middle of the main page. Registration is a smooth process. You need to make a deposit to take advantage of the account and the platform.

UTrader boasts having 250,000 clients. Its Alexa rank (56k) proves that the service is especially popular in Russia. Self-­proclaimed "no. 1 platform in the world", the broker is actually a solid player, but it no way can it be considered a world-­class leader.

There are 4 types of accounts to choose from when registering: Start, Silver, Gold and VIP. Upgrading the account means getting a higher bonus, an account manager, additional materials and payouts priority. You can set up an account in PLN, EUR, USD, RUB or GBP.

You can earn as much as 85%, which is a satisfactory result, altough we couldn't find a pair better than EUR/USD – 82%. We asked why and here's the answer:

 

UTrader platform

SpotOption is the most popular platform amongst binary options brokers and UTrader seems to agree. There are the classic high/low options, short­-term and long­-term options, currency pairs and one-­touch. We may use 20 currencies (bitcoin included), commodities (15), indices (12) and stocks (45), which makes up 92 assets.

Short­-term options (called turbo) have the following expiry time: 30, 60, 120 and 300 seconds. Turbo options offer lower returns (about 70%) than the classic ones, with the expiry time defined by the broker. Still, we get to decide on an option up to 5 minutes before its expiry. When it comes to long­-term options, we can even choose end­-of­-the­-year expiry. As far as the pairs go, you need to choose two assets and decide which should go higher in a given time interval.

Minimum to invest with turbo options – $5, and with the rest – $20.

What's also available? Rollover, double up or buyback.

UTrader deposits and withdrawals

Deposits and payouts can be handled via credit cards, Neteller or OKPay. It's been said that Skrill will be added soon.

The minimum to deposit is $200. The minimum to withdraw is $25. There is no fee for once-­a-month withdrawal, but if you withdraw more often than that, you'll pay $12 for every transaction. Payouts are handled within 24 hours.

DEMO account

The broker offers a demo account, but only after depositing the minimum amount.

Client support

With an adequate level of client support, UTrader is available to chat online (which we've tested personally), Skype or e­-mail the users. There is also a phone support: +883510008211639.

An account manager takes care of every client. If you deposit enough money, you'll also get the help of a financial analyst.

What may be comforting for the social media aficionados, UTrader is on Facebook, Twitter and Google+.

Educational materials

UTrader's "Education" section consists of e­-books with basic information on market analysis or the psychology of trading, a glossary, and some introduction into binary options trading. There is also a list with descriptions of all the assets that UTrader offers, as well as videos on how to take risks or manage your money. Unfortunately the materials are not original – they go together with SpotOption platform, so there's nothing new here for those who've signed up with another, similar broker.

Bonus

Bonuses depend on how much you deposit. If you deposit $300-­1000, you'll get 50%. If you deposit $1001-­5000, you get 100%, and $5001-­25,000 may get you 120%, while depositing over $25,000 means up to 150%. It's worth noting that negotiations are possible and so are higher bonuses. Our account manager claimed that you may get up to 200%. And if you make use of our offer, you'll get an additional 10% bonus!

The bonus can be withdrawn only when the minimum trading volume requirement has been met (20 times the value of the bonus you received).

UTrader SCAM?

The broker is well­-regarded in Russia, where it's the most popular. The only negative aspect seems to be that it is not subject to any regulations, but we managed to find out that it's about to change soon enough. We will be waiting!

Since the broker has just embarked on its global expansion, there aren't many opinions besides the Russian ones.

Summary

UTrader is a dynamically developing broker with an expanding customer base. What's really interesting about this broker? Promotions and offers, including the one for WatchBinaryOptions users. To add to this, the broker encourages users with regular contests with prizes up to $35,000! All that's left is adding Skrill, which should happen once the regulations kick in.

Discussion forum and opinions

Forum link

Broker details
Broker’s name UTrader
Website url www.utrader.com
Start of 2011
Country of registration Seychelles
Regulation CROFR (not in EU)
Platform SpotOption
Markets Forex, Indices, Stocks, Commodities
Options high/low, one-touch, turbo (short-term), long-term
Assets 92
Deposit methods credit card, neteller
Withdrawal methods credit card, neteller
Deposit min. $200
Min/max stake $5 – turbo options and $20 for the others
Withdrawal min. $25
Deposit/withdrawal fee none for once a month withdrawal, for each next: $12
Profit up to 85% (the highest we found 82%)
Account currency EUR, USD, RUB, PLN i GBP
Bonus up to 200%
Failed transactions refund none
Demo yes, on request, after depositing money
On-line support yes
Languages English, Polish, Russian, Dutch
US traders no
Expiry times 30, 60, 120, 300 seconds; 5, 15, 30 minutes; 1 hour; at the end of the day, week, month, year
Educational materials e-book, instructional videos, glossary, additional courses, description of strategies for higher depositors
Mobile trading yes

Utrader rank

  • Platform: SpotOption
  • Launched: 2011
  • Registration: Seychelles
Withdrawal execution
Platform
Support
Functionality and look
Reliability
Payment methods
Educational materials
Return
Assets
Good plus

User Rating:

2.8/5
(2 votes)
  • Platform: SpotOption
  • Launched: 2011
  • Registration: Seychelles
Withdrawal execution 94%
Platform 90%
Support 96%
Functionality and look 82%
Reliability 76%
Payment methods 70%
Educational materials 80%
Return 80%
Assets 88%
84% Good plus

User Rating:

56
(2 votes)

Pros
  • Prolong
  • Sell and close button for options
  • Educational materials for beginners
  • Quick withdrawal execution
  • Cyclical contests
  • High bonuses
  • Various forms of direct customer support
Cons
  • No EU regulation
  • Narrow range of payment methods
  • No reliable country of registration



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