uTrader Binary Options Broker Review and Latest Bonus Info 2020

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Brokers » uTrader

UTrader

Bonuses

Software

Customer Support

Options Choice

  • Large selection of instruments
  • An excellent trading platform
  • Good bonus structure for higher account holders
  • Competitive payouts
  • Not regulated
  • Demo account only available with deposit
  • Customer service leaves room for improvement

UTrader, a serious binary options broker, that is regulated and professional

With so many binary options brokers on the market now it can be difficult for traders to know where to start when it comes to making a choice of broker and trading platform. High-intensity competition between brokers for traders can, widely-speaking, only be a good thing as they jostle for market position by trying to differentiate and demonstrate their attractiveness as a trading destination.

The result has been a notable improvement in the average quality of brokers with trade execution times generally improving, payouts becoming more generous, customer service picking up their game, withdrawals being processed faster, educational resources and trading tools improving and hidden charges becoming less common. However, despite the generally positive trend there, is still a significant range in the quality provided by different brokers. Some are relatively strong across all major differentials while others have more pronounced strengths and weaknesses. We’ve tried to take out a lot of the leg work for binary options traders in this review section by summarizing the main service and product categories.

In this review, we cover UTrader, a relatively seasoned broker on the market since 2020.

Company Information

First established in 2020, UTrader quickly became one of the fastest growing binary options brokers in Eastern Europe before capitilising on that success by continuing its march globally in more recent years. UTrader’s parent company uTrader Day Dream Investments Ltd is registered in the Marshall Islands but the company is headquartered in Latvia, allowing it to do business with the European Economic Area.

The broker offers forex and CFDs trading as well as binary options trading and states that it looks after over 250,000 client accounts in total. Recent growth is focused on Western Europe, already holding the position as the no.1 broker in the Eastern side of the continent.

Trading Software

UTrader’s trading platform uses SpotOption software, one of the biggest independent binary options software providers and used by some of the leading names in binary options brokerage.

As would be expected of a market leader in trading software, the SpotOption platform is to a very high standard: nicely designed, intuitive navigation and usability, quick and convenient functionality for the placing of trades, several binary options variations available and providing a strong suite of trading tools and educational materials.

A nifty feature of the platform is the tile windows function that allows traders to view multiple assets simultaneously.

Another popular tool is the ‘strategy advisor’, an algorithm that uses three common technical indicators (Moving Average, RSI and Bollinger Bands) to provide automated price movement alerts.

Mobile

UTrader’s SpotOption-powered mobile app is available in both native Android and iOS formats and is widely considered to be one of the best mobile binary options trading apps on the market. Its general and UX design is certainly top-notch and the entire functionality of the desktop trading platform is maintained in an easy-to-use mobile-friendly format.

Assets available

Tradable assets diversity is a strength of UTrader, with the broker offering over 90 over the four major asset classes of forex, commodities, indices and stocks. Around 32 different forex pairs are available from the majors to more exotic pairings such as euro to South African Rand.

Individual company stocks are a particular strength with over 50 available from big companies listed on major European, American and Asian stock markets. Innovative stock pairs are also available, which match up different companies against each other in a way similar to how forex pairs work. Almost 20 equities and commodities indices can be traded and 10 commodities including precious and industrial metals, precious metals to currency pairs and soft commodities such as corn and coffee are available.

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Trading Features, Fees and Payouts

Five different kinds of binary options formats can be traded with UTrader:

  • Classic High/Low Binary Options
  • 60 Second Binary Options
  • Long Term Binary Options
  • One Touch Binary Options
  • Pairs

As already mentioned, ‘pairs’ pair up company stocks like forex pairs with the trader predicting if one stock will perform better than the other, rather than simply whether an individual stock will finish up or down on its opening price. 60 second and long-term binary options work in exactly the same way as classic binary options with a timescale up to one minute in the case of the former and between a few days and weeks in the case of the latter. The One Touch format means the asset’s price only has to ‘touch’ a target price at any point before the option’s expiry, regardless of where the price finishes.

Payouts on all binary option formats other than Pairs reach a maximum of 85%, but pairs options payouts can go as high as 250% of the original investment.

A monthly inactivity fee of $/£/€25 is charged to accounts that have been inactive for at least 30 days. UTrader does not charge any payment processing fees on either deposits nor withdrawals in addition to any charges applied by the payment processor chosen by the trader as their preferred service provider.

Bonuses & VIP programs

UTrader offers clients a number of promotion and bonuses. The ‘Risk Free Trades’ insurance programme gives the trader the option to recover losses made on a fixed number of trades and up to a maximum value set by the broker. UTrader customises this bonus programme to each trader individually and new traders should chat with a customer service representative about the offer at the point of opening an account and making a first deposit. The insurance policy can be topped up or renewed at the broker’s discretion during the lifetime of the trader’s account.

Different coaching and education packages are also offered as a promotion, the extent of which are dictated by the size of the deposit made into a trading account. The education packages are tiered into four distinct offers, the basic package awarded to deposits up to $500, ‘Advanced’ up to $1000, ‘Pro’ between $1000 and $4999 and ‘VIP’, which includes working 1to1 with an analyst reserved for deposits in excess of $5000.

The final bonus is a cashback offer which is calculated as a percentage, up to 5%, on trade turnover.

Deposits and withdrawals

Traders can make deposits into their trading accounts and withdraw remaining balance or winnings via a helpful variety of payment processing methods. Visa and Mastercard debit and credit cards are accepted as are several major e-payment processing clients including Skrill, Neteller, MoneyNet, OK Pay and WebMoney. Bank wire transfers are not currently supported as a payment or withdrawal method.

The minimum deposit is $200 or the approximate equivalent in either £, €, Russian roubles or Polish zloty. The minimum withdrawal level is $25 or the equivalent in another of the account base currencies supported.

Customer Support

Customer support is provided in English, German, Russian and Polish and traders can get in touch with customer service representatives via online chat, Skype, telephone or email.

Extra features and resources

The social trading functionality supported on the trading platform is a major plus form many traders and can be employed as a very useful value-added resource. Traders can monitor the performance of peers and choose to follow and mimic the trades made by the most consistently successful. The position size can be adjusted so doesn’t have to be the same as the followed trader. Bid sizes can be reduced if account funds are limited, raised if plentiful or simply according to preference regardless of funds available.

Verdict

UTrader is a good, solid broker. The SpotOption-powered trading platform, both in desktop and mobile app formats is first class and the broker has not grown consistently since 2020, building up 250,000+ trading clients by not treating them fairly and providing both a good product and customer service, despite not being under the regulatory supervision of a major regulator. A good range of tradable assets and smooth deposit and withdrawals processes reinforce the quality of the trading platform itself.

Is UTrader a safe broker?

While UTrader is not regulated by one of the major regulators, the broker has been operating since 2020 and with over 250,000 trader accounts to its name, has so far proven itself to be a trustworthy custodian of client funds. Lack of regulation may be a turnoff for some but the evidence suggests that UTrader is a reputable broker.

What is the minimum deposit size for a UTrader account?

$300 or the equivalent in £, €, Russian roubles or Polish zloty is the minimum deposit size.

What is the minimum investment stake to trade with UTrader?

$20 or the equivalent in £, €, Russian roubles or Polish zloty is the minimum investment size.

uTrader Review

uTrader

Broker uTrader
US Traders Accepted
Company Name Day Dreams Investements
Headquarters Riga, Latvia
Regulation No
Bonus Type Deposit bonus
Bonus Size 120%
Max Payout 85%
Out-of-Money Reward 0%
Trading Platform SpotOption
Deposit Options Credit/debit cards, wire transfer, OKPAY, Neteller
Deposit Currencies US dollar, euro, Great Britain pound, Polish zloty, Russian ruble
Minimum Deposit $200
Minimum Trade $20
Maximum Trade $5,000
Online Since 2020
Trading Instruments Forex, Commodities, Stocks, Indexes
Number of Trading Instruments 154
Binary Option Types High/Low, Turbo Options, Long Term, Pairs, One Touch.
Customer Support Types Email, live chat, Skype, telephone
Education Offered Videos, eBooks, daily market reviews, trading strategies, technical and fundamental analysis education, personal finance analyst
Tools Offered Early close, double up, rollover
Commission First monthly withdrawal is free, additional withdrawals cost $12. Wire transfers cost $25. $25 minimum for withdrawals.
Languages English, Russian, Dutch, Polish
Demo Account Risk-free trades after deposit

If you are looking for a broker that serves customers around the world, including in the USA, you may be interested in uTrader. This website is operated by a company called uTrader Day Dream Investments Ltd. As the company is based in Riga, Latvia, they are aiming their services largely at Eastern European customers, but they do take traders from everywhere. Having taken a close look at their features and benefits, they appear to offer a lot of flexibility and great features. The company has been in business since 2020, which means they have more experience than a lot of their competitors.

Please note that while their terms and conditions page says, “uTrader.com is regulated and operates under the regulations and local laws,” they are not a regulated broker. This is why they accept USA customers. Presumably the word they meant to type was “registered.”

uTrader Account Types, Deposits and Withdrawals

If you decide to open an account on uTrader, you must deposit a minimum of $200, or the equivalent in your currency. uTrader accepts not only the standard US Dollar, Euro, and British Pound transactions, but also allows you to open an account in Russian Ruble or Polish Zloty. You may use credit or debit card, wire transfer, Neteller, or OKPAY to deposit and withdraw money. Right now, the deposit form only seems to support OKPAY, though these other payment methods are all listed as acceptable.

It is a good idea to deposit at least $301, because this will get you a Start Account. For $1,001 or more, you may open a Silver account. If you deposit $5,001, you get a Gold account. Each tier comes with a bonus—50%, 100%, or 120% respectively. The Start level also includes an introductory video and daily market reviews along with other educational videos. At the Silver level, you add a personal finance analyst and two trading strategies. The Gold level includes an enhanced account review with an analyst and more technical and fundamental analysis education. Keep in mind many educational resources that uTrader provides are free and accessible to all.

Glancing at the Education center, where you can find the FAQ and glossary, I see a pretty standard selection of beginning and advanced eBooks and videos available for free. The resources are not really comprehensive, but they are reasonably complete for a binary options broker.

What happens when you need to make a withdrawal from your account? Your first monthly withdrawal is always free, unless it is a wire transfer, which carries a $25 fee (a typical fee amount). Subsequent withdrawals carry a $12 fee. You must withdraw $25 minimum. While no threshold and no fees would of course be preferable, these are both very reasonable amounts. A lot of brokers will charge you fees of $30+ and will also require you withdraw at least $100 or more, so this is really quite flexible!

Trading on uTrader

uTrader uses the popular SpotOption platform, which you may be familiar with since it is pretty ubiquitous. The platform is designed to offer great ease-of-use and functionality.

You can trade as much as $5,000 and as little as $5 (Turbo Options). $20 is the minimum investment amount for all other trade types. Trade types include High/Low, Turbo Options (fast trades like 60 Second trades), Long Term Options, Pairs, and One Touch. This is neither the biggest nor smallest selection I have seen, but it is reasonably diverse. There are 154 assets to trade, including stocks, indices, commodities, and currencies. This is quite a lot of assets, and more than you probably will ever need to use.

Risk-Free Trades

While uTrader does not offer a demo account, there is a practice feature which you will find listed under the Promotions tab at the top of the page. This feature is labeled as “Insurance,” and essentially takes the form of risk-free trades. The only restrictions mentioned are the types of options you can use the insurance for (High/Low and Turbo), and that you only take one risk-free trade at a time.

From the looks of things, lost trades will be docked from your account, but the money will be refunded within one working day of the trade. Assuming there are no other limitations, this looks like a pretty good alternative to a demo account, and far better than nothing at all. I recommend that you talk to an account manager about this, because this is a feature that is well worth taking advantage of before you start trading live with real money.

What if you need assistance while you are trading, or with your account? uTrader offers access to their customer service team via email, live chat on the website, Skype, or telephone. No one was in attendance at the live chat desk when I checked, but as it was a Sunday, this is not at all surprising.

Conclusion: Worth Your Consideration

If you are anywhere in the world looking for a good binary options trader, uTrader may be a great choice. This company is willing to accept customers from the USA, which is great news if you are located in America and want to trade with a quality broker. If you are in Eastern Europe, uTrader would also be a particularly good choice.

While uTrader could improve their services by offering a full-fledged demo account, their risk-free trades appear more useful than the overly restrictive versions offered by other brokers. Likewise, no fees or minimum withdrawal thresholds would be preferable, but those the company has opted to set are far from unreasonable. The trading resources are handy, there are a good variety of trade types, and the interface and the website are both easy to use and navigate. This looks to be a promising broker which may very well deserve your business.

uTrader , 8.5 out of 10 based on 11 ratings

uTrader Review

Welcome to our latest uTrader review, where we will be bringing you all the relevant information regarding this popular binary options broker.

uTrader was launched in 2020, and is the brand name of a company called Day Dream Investments Ltd. The support headquarters of uTrader binary trading are in Riga, Latvia, and the brand is currently working on expanding its operations in Eastern Europe.

Is uTrader licensed and regulated?

uTrader has already gained quite a reputation for its work with Russian-speaking clients. That’s no mean feat, as this can be a very complicated sector to conquer. It is currently licensed by CROFR (the Financial Market Relations Regulation Centre in Russia), but there is no licence currently recorded with CySEC. It only recently began providing its services in English, Polish and Dutch as well as Russian, and it may not be long before it receives recognition from other financial regulatory bodies.

The features of uTrader binary trading site

uTrader offers a trading platform powered by SpotOption, which means there is no need for a download, once you’ve decided to give this binary options broker a go. However, those who prefer to trade on the go will be pleased to learn that uTrader has a mobile option, which is available from the Apple AppStore or via Google Play. A minimum deposit of $200 is required to start your journey, with an additional 50% uTrader bonus to welcome new clients.

uTrader offers more than 120 assets to trade on, including some of the most popular stocks, commodities, indices, and currencies. They claim a payout rate of around 86%, which is certainly impressive, but we haven’t yet been able to reach such lofty heights of success.

There are a number of different accounts to take advantage of, each with their own special benefits and features, which we’ll look at a little later in the uTrader review.

Different account types and uTrader bonuses

There are a number of different account options when you sign up with uTrader binary options broker. Each has its own specific requirements and offers a number of different benefits. Take a look at what’s on offer, and then you can weigh up how much you can afford to deposit:

  • Start account – The minimum deposit is $300, and there is a welcome bonus of up to 50%. Standard rules apply to all withdrawals, and account holders get access to analytical and educational material, as well as an introduction to the platform.
  • Silver account – The next step up is the silver account, which requires a minimum deposit of $1,001. Additional benefits include a personal financial analyst, up to 100% welcome bonus, and the chance to learn about two different trading strategies.
  • Gold account – If you’ve got $5,001 or more for an initial deposit you’ll be entitled to a welcome bonus of up to 120%. Accelerated rules apply for all withdrawals, and this time there are four trading strategies to learn about. Gold account holders are also entitled to a 30-minute individual review of their trading account once a week with a financial analyst.
  • Platinum account – The minimum deposit requirement for a platinum account is $25,001. Withdrawal requests are given highest priority, and there is a 2-hour individual review of the trading account, as well as a quarterly plan.
  • VIP account – Investors with $50,001 or more to invest are given VIP status, and the welcome bonus is up to 150%. There are unlimited individual reviews upon request, quarterly and annual trading plans, help with developing a personal trading strategy, screen demonstrations of real-time trading, highest priority to trade online with a financial analyst, and access to VIP hedging tools.

uTrader take their customer support to another level.

Customer support is an important quality to consider when looking for a binary options broker – and you won’t be disappointed with uTrader. Lines of communication are open 24/7 and include Skype, live chat, email, and a phone option. As well as being able to contact customer support, clients are also given the opportunity to take advantage of a personal manager.

There is also a range of educational material and an extensive FAQs section on their site. There is a eBook, and online video lessons, for both beginners and advanced users.

uTrader offers a range of binary options types.

There are more than 120 assets available for trading and a range of trading options types, including the following:

  • Standard high/low (Above/Below)
  • One-touch options
  • Turbo options with 30/60/120/300-second expiry times
  • Long-term options with expiry times of up to a few months
  • Pairs

All the usual payment methods are accepted, including Visa, Maestro, Mastercard, Neteller, WebMoney, and Skrill. Various terms and conditions apply to withdrawals, bonuses, and other payment issues, and the most up-to-date information can be found on the site’s FAQs page.

Best Binary Options Brokers 2020:
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    Free Demo Account!
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