FTrade offers its newly registered clients the opportunity to benefit from a welcome bonus, however the terms and conditions relating to the withdrawal of any profits are quite stringent. The software offered by this broker is technologically advanced and user friendly, making it suitable for traders at all levels of experience. Although there are several contact options available for the customer support team, their hours of operation are quite short, and the choice of assets is somewhat lacking from this broker.
FTrade is a leading online binary options broker offering payouts of around 83%. Offering assets across all categories including currencies, stocks, indices and commodities, this broker boasts an advanced web-based trading platform, strong encryption on its site and extensive educational resources for the clients’ benefit. There are three different account levels to choose from with this broker in order to accommodate the needs and trading styles of all kinds of investor, and the available banking methods are diverse enough to suit the requirements of most traders.
Established relatively recently in 2014, FTrade is a binary options broker that is operated and owned by Binext Solutions SRL in Romania. FTrade does not appear to be regulated or licensed by any recognised authority but does ensure its clients’ safety through strong SSL encryption across its website to protect all financial transactions.
FTrade offers only around 60 assets for traders to select from.
Their list of assets includes:
Bonuses & VIP Programs
FTrade does offer a welcome bonus to clients who have just registered for its brokerage services, however should you accept this bonus you must meet the conditions relating to trade volume before withdrawing any profits from your trading account. Trades must be executed worth 40 times of the bonus received before you are eligible to make a withdrawal of any gains. FTrade also operates a VIP account with more favourable trading conditions and extra perks including the services of a personal account specialist, instant withdrawals and monthly account reports.
FTrade have recognised that many traders now prefer to execute trades when they are out and about from their mobile devices rather than waiting until they are sitting in front of their PC. To this end, they have developed a high efficient and response 100% web based trading platform which can be accessed from any device with an active internet connection from anywhere in the world. Requiring no memory intensive installations or downloads, this mobile optimised platform is extremely convenient, however to make trading on the go even simpler they have also designed an Android and iOS mobile app which can be downloaded free of charge and which offers all of the functionality of the desktop version with all of the convenience of trading from the palm of your hand.
Deposits and Withdrawals
FTrade has several convenient payment options for making deposits and withdrawals. These include:
- Bank transfer
The minimum deposit permitted to be paid into an FTrade account is $200/200 Euros/£200 although the minimum deposit amount via bank transfer is $500/500 Euros/£500. Withdrawals are quickly and easily requested through the client’s account portal, with the minimum withdrawal amount on a credit card being $50/50 Euros/£50. Although there is a fee for withdrawing funds via Skrill or bank wire transfer, there is no fee applied to credit card withdrawals. Withdrawal requests are generally processed for basic level accounts within 5 business days and funds will usually appear in the trader’s account within a further 7 days.
FTrade offers a few different ways in which their customer support team are contactable. These include:
- Live Chat
- Telephone helpline
Top level account holders also have access to their own personal account manager. The website is also available in 5 languages for the benefit of clients worldwide. These include:
There is also a helpful frequently asked questions section which offers simple responses to the most commonly posed queries.
The customer support team have quite limited opening hours and can only be contacted between 8 am and 5 pm GMT.
Extra Features and Resources
FTrade takes pride in offering an extensive centre for educational resources where both beginners and experienced traders alike can widen their knowledge of investments and learn new skills that will enable them to increase their profits. There are beginner and advanced courses, video tutorials and ebooks to choose from free of charge. As another extra feature, FTrade offers free market updates to help inform investors’ trades.
If you are thinking of using FTrade as your preferred binary options broker there are several positive things in its favour, although there are also some downsides to bear in mind:
- Cutting edge trading software that is suitable for use by both experienced and novice traders
- 100% online trading interface requiring no installations or downloads
- Instant customer support via the live chat facility
- Choice of customer service contact methods including email, live chat and telephone helpline
- Access to a dedicated account specialist for VIP clients
- Choice of convenient deposit methods including e-Wallets
- Choice of convenient withdrawal options including e-Wallets
- Mobile app for Android and iOS devices allowing trading on the move
- Multilingual website
- VIP account for high volume traders
- Free educational resources
- Payouts up to 83%
- Choice of three account types to suit the needs of all investors
- Account managers for all clients regardless of account level
- Very limited range of assets
- Not regulated or licensed by any recognised authority
- Customer support helplines have very limited hours
Is FTrade a good choice for new traders?
If you are brand new to binary options trading, it is important to choose a broker that can accommodate the needs of the novice trader. FTrade offers several different account types and their Basic level account is designed for newcomers to the financial markets. With plenty of excellent benefits including access to the learning centre as well as the services of a dedicated account manager, this account has a relatively low minimum deposit level of just $200/ 200 Euros/£200 to minimise risk.
Are my funds safe with FTrade?
While FTrade is not a licensed or regulated binary options broker, you can still be assured that your financial and personal details are in safe hands. All transactions are protected by very strong SSL encryption so that no hacking or cybercrime can take place.
If I am having difficulties, can I contact FTrade straight away?
If you are having any kind of issue, it is very important to be able to speak to a customer service representative immediately. FTrade’s support team are available between 8 am and 5 pm GMT and can be contacted in a number of ways including by telephone, email or by using the convenient live chat facility which can be found on the broker’s home page and which is ideal for obtaining an urgent response to problems.
Do I need to install any software on my PC to run the FTrade trading platform?
FTrade’s trading interface has been developed to be 100% web based so there is no need to download or install any memory intensive software. Not only does this mean that the trading platform runs more quickly and efficiently for faster and seamless trading, but it also means that you can easily access your account and execute trades from any internet enabled device, at any time and from any location worldwide.
How do I register for an FTrade account?
It is quick and easy to register for an account on the FTrade website. Simply choose the Open Trading Account option from the broker’s homepage and then complete the relevant details. After submitting the form online, you will then receive an email with a welcome link. Simply click on the link to verify your account and you are ready to deposit funds and make your first trade.
What currencies can I use for trading on FTrade?
You have a choice when you open a trading account with FTrade between three different base currencies. Choose from US Dollars, Pounds Sterling or Euros. Please note however that you are not permitted to change your base currency once you have made your selection.