Tropical Trade

Site Overview 

Going slightly against the grain as far as the norm is concerned, Tropical Trade has decided to go with the Panda TS trading software option. Even if it’s not a trading platform you are familiar with, they’ve done a fantastic job putting together a package that is comprehensively accessible and easy to use at all times. The site as a whole is very easy to navigate and is packed with reassuring information about the way the company does business.

Getting started is relatively simple, with a choice of five different account types available. They start out with the Basic Account for deposits of $200 and higher, going right up to the Corporate Account where you’ll need to deposit a minimum of $100,000. As usual, each account type comes with its own unique perks, including its own specific welcome bonus. The bonus amount varies from 20% to as much as 100%, though is bound by relatively heavy turnover conditions of 30X the deposit amount. This isn’t the worst you will come across, but also isn’t the best, either.

One thing we believe could stand to be improved at Tropical Trade is the way in which access is permitted to the available learning resources. As is the case with so many binary options brokers, the level of the account type you choose will determine exactly which educational materials you can and cannot access. However, we much prefer to see systems where any account type whatsoever allows full access to all learning resources, in order to benefit all customers to the maximum possible extent.

The minimum trade amount is set at a low $10 and the minimum amount that can be deposited at any time is $200. All credit card transactions are free, but bank transfers are charged at a flat rate of $25 each. One slight downside is the way in which withdrawal processing times average around five working days, which is a little too long. Plenty of payment types are accepted for transactions in both directions, along with the option for E-wallets for the fastest and most reliable transactions.

As for the asset library, it certainly isn’t the largest you’ll come across at Tropical Trade – especially if you are out to trade commodities. That being said, there is still plenty available to suit most tastes and trading styles. Speaking of which, the options types themselves are kept relatively simple, available and in the form of range options, high/low options, one-touch options and hyper options (aka turbo options, or short-term options). They advertise the maximum returns percentage of 85%, which is just about average.

Oh, and there’s also a great social trading option, for those who would prefer to make their decisions in accordance with the success and trading habits of others.

Unfortunately, Tropical Trade still doesn’t seem to have gotten around to sorting things out for mobile traders – we were told earlier in the year that iOS and Android apps were currently in development at the time. In addition, the Tropical Trade website itself is only available in English and Italian, just as customer service only supports English speakers. And just in case you were wondering, the answer is no – there is currently no demo account available, either.

Best Features

Tropical Trade does in general offer a nicely presented and reliable trading platform, along with a great social trading feature as a bonus. Everything is very easy to use, while 24/7 customer service provision is always a bonus.

Conclusion 

Pulling all the pieces together, Tropical Trade is a binary options broker that ranks somewhere towards the middle. While the platform itself is great and the customer service team does a good job, things are let down considerably by the lack of demo accounts and mobile applications. In addition, withdrawal processing times could also stand to be improved.