Tropical Trade is one of the brokers that entered into the binary options trading market in 2016, but rapidly become popular, especially in the US. The broker is run by a company called FLY Ltd. that is based in St. Vincent and Grenadines. It is free to sign up for an account with Tropical Trade and you must first deposit some funds if you want to start trading. Sign up here.
Tropical Trade accepts customers from all parts of the world to trade with them including American traders but they do not offer demo account for traders to test out their platform. Lets find out more about this broker by reading the full Tropical Trade review.
Tropical Trade Trading Platform Review
Tropical Trade offers an entirely web based platform with more than two hundred types of assets to choose from. The high/low option offers an average of 81% payout and a 5% return if you lose in the trade. Hyper option is a short term option for traders who want to place a large number of trades in a short time frame. The expiry time frame available for the Hyper option are 30 seconds, 60 seconds, 2 minutes and 10 minutes. Tropical Trade also offer the one touch and range options.
On the right side of the platform, you will see the information on a list of the best traders on Tropical Trade including how much they earn, the option type and the asset type. You can press the copy button to copy the trades of the traders if you want.
Types of Trading Accounts
Tropical Trade offers 5 types of accounts and the lowest account level, the Basic account, can be opened with a deposit of just $200.
- Basic Account: You get a 20% welcome bonus credited into your Basic account after you make the first deposit. If you hold a basic account, they will assign you a junior broker to supervise your account and you only get access to package 1 in the resource center.
- Pro Account: The second account level, Pro, requires you to come up with at least $2,500 for the initial deposit. The Pro account offers a slightly higher bonus of 35% deposit bonus credited into your account. With a Pro account, you will be assigned with a senior broker and get 1 hour one-on-one training. For the educational resources, you will get package 1 and 2.
- Gold Account: Gold account is the account that most traders signed up and you need to have at least $6,500 of fund to open the account. You are qualified to receive a 70% bonus when you open the Gold account. Gold account members can get help from an executive broker and they can make 3 risk free trades. You will be able to unlock package 1 – 3 in the education center.
- VIP Account: VIP account is for traders who can deposit at least $50,000 into their trading accounts. There are a few perks that a VIP account can give you including 50% bonus, executive broker, and one-on-one session with the analyst for 7 hours. You can make up to 5 risk free trade and access package 1 – 4 of the educational materials in the resource center if you hold the VIP account status.
- Corporate Account: VIP account is for traders who can deposit at least $50,000 into their trading accounts. There are a few perks that a VIP account can give you including 50% bonus, executive broker, and one-on-one session with the analyst for 7 hours. You can make up to 5 risk free trade and access package 1 – 4 of the educational materials in the resource center if you hold the VIP account status.
To open a corporate account at Tropical Trade, you must meet the $100,000 minimum deposit. You will be assigned with a corporate broker and you can consult your analyst for unlimited times. You get a 30% bonus when you open the corporate account and you can make 10 risk free trades.
You will have access to the entire collection of resources in the educational center. The minimum and maximum deposit amount are $200 and $20,000 respectively. For wire transfer deposit, they don’t put a cap on the amount you can deposit.
Tropical Trade accepts 5 major credit cards including Delta, Diners Club, MasterCard, Visa Electron and Visa as well as bank wire transfer for deposits and withdrawals. You can deposit/withdraw in 5 different currencies which you will be able to choose when you open a new account. Just like most brokers, there are a few identity proof documents you must prepare in order for your withdrawal request to be successfully processed and the money withdrawn arrive in your account. Tropical Trade only allows you to withdraw the funds via the same way you deposit it. When writing this tropical trade review, we found out that you can only withdraw up to $20,000 in per withdrawal.
Tropical Trade operates 3 customer service locations including New York in North America, London in United Kingdom and Sydney in Australia. You can get the telephone number for each of these customer support at the Tropical Trade contact page. You should call the telephone number of the customer service center that is nearest to your location. They also answer email queries from customers and you can send your query by using the web contact form.
As you can see in this review, Tropical Trade is a good broker that offers a large selection of assets and quality 24/7 customer support. Their website is easy to navigate website and you can quickly find the feature you want to navigate without any hassle.