TudorTrade Broker Review

TudorTrade offers a number of different ways in which the customer support centre can be contacted and their trading platform is attractively presented and intuitive to use, making it suitable for use by both novice investors and those with years of experience. Each account type comes with the benefit of an impressive sign-up bonus, however there is a very limited range of assets to choose from.

Intro

TudorTrade is a recently established binary options broker, only having appeared online in 2016. Although the main focus of this broker appears to be on CFDs and Forex trading, binary options trading is also available through their easy to use, accessible platform. TudorTrade ensures that their clients’ financial and personal details are well protected thanks to a strongly encrypted website, and their trading interface is entirely web based for faster trade execution and easier access. TudorTrade accepts clients from all over the world including the United States, however their main focus is on Singapore, Australia, South Africa and New Zealand.

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Company Information

TudorTrade was formed in 2016 and is a broker that specialises in Forex, CFD and binary options trading. Managed and owned by Global Instruments Ltd, TudorTrade is based in the Seychelles and does not appear to be licensed or regulated by any recognised authority.

Assets Available

The assets offered by TudorTrade include:

FX – 9 currency pairs

Commodities – 9

Indices – 20

Stocks – 33

Overall, there are only around 70 underlying assets to choose from with this binary options broker.

Bonuses & VIP programs

TudorTrade offers impressive registration bonuses for all clients when they sign up for a trading account, regardless of the account level that they apply for. Higher level accounts attract a higher amount of bonus, however even the basic level Introduction account has up to 50% initial deposit bonus. There are three further account types – the Traders’ account which offers up to 75% deposit bonus, the FX Traders’ account which attracts up to 100% bonus and the highest level Pro Traders’ account which offers a bonus deal of up to 150%. There may also be other periodic promotions throughout the year including Cashback deals, Refer a Friend and Social Media bonuses. The two highest level accounts also offer a range of other perks and promotions including a guaranteed monthly interest of 1.4% and 1.8% respectively and volume insurance of either 40% or 55% of invested capital. Higher level account holders also benefit from money management consultant meetings or personal money management services.

Mobile

TudorTrade’s trading interface is 100% web based and requires no installations or downloads. It can therefore be accessed easily from any internet enabled device, from PCs and laptops up to smartphones and tablets for trading on the move. However, unlike many of its competitors, rather disappointingly it offers no specific mobile app for download. This makes it less convenient to trade from mobile devices while on the go.

Deposits and Withdrawals

Another way in which TudorTrade lags behind its competitors is the lack of deposit and withdrawal methods available through this broker. None of the major e-Wallet methods are represented and investors who are looking for a wide choice of banking options are likely to be disappointed. The only available methods include:

• Visa
• MasterCard
• Bank wire transfer
• UnionPay

Withdrawals can be actioned quickly and easily online and are processed within 3 working days, returning funds either to the credit card used to make the deposit or via bank wire transfer. All financial transactions are well protected thanks to the TudorTrade website’s strong encryption for the clients’ peace of mind. The minimum amount that can be deposited in a TudorTrade live trading account is $250 and no fees are charged on withdrawals to a credit card, although withdrawals via bank transfer are charged a fee of $25. Any account with an initial deposit of under $5000 is permitted one withdrawal every 30 days, accounts with a deposit of between $5000 and $10,000 are permitted two withdrawals every 30 days and those with a deposit of over $10,000 can withdraw up to four times during a 30 day period. The minimum amount which can be withdrawn is $100.

Customer Support

TudorTrade offers several ways in which their customer support team can be contacted. Their live chat facility is available from the home page during working hours, and there is also an online web form which can be completed as well as two telephone numbers, one for the UK office and one for the USA office. There is also an email address provided through which queries can be asked and issues raised. There is, however, no Frequently Asked Questions section on the broker’s website which could offer immediate support and responses to the most commonly posed questions.

Extra Features and Resources

TudorTrade offer very little in terms of extra features and resources, however they do offer their clients the opportunity to register for webinars which are held at regular intervals. Clients can register their interest in taking part through the broker’s website. These courses cover a range of topics and aim to help traders to maximise their profits.

Verdict

Overall, TudorTrade does offer some strong features that may prove appealing to its potential clients, however there are some negatives involved in choosing this broker too.

Pros

• Simple, easy to use trading software
• A 100% web based trading terminal which needs no downloads or installations
• Telephone, live chat, email and web form support
• A choice of traditional payment options
• An easy to use withdrawal and deposit system
• A choice of four account types to meet the needs of both beginners and experienced traders
• Excellent initial deposit bonuses for clients at all levels of experience
• Strong site-wide SSL encryption for safety of the client’s personal and financial details
• The opportunity to register for free demonstration accounts
• Free webinars on a range of topics for all clients
• Additional perks and promotions for higher level account holders

Cons

• Not licensed or regulated by a recognised authority
• No additional trading tools available
• No dedicated mobile app
• No e-Wallet payment methods available

FAQ

Does TudorTrade offer different account types?

Clients at all levels of experience are welcome to register with TudorTrade and can choose an account to suit their own trading style. Those who are brand new to the financial markets will probably prefer to start out with an Introduction account which requires only a $250 initial deposit, however there are three other types of account to choose from including the Traders’ account which requires a $500 initial deposit, the FX Traders’ Account which requires a $5000 deposit and the highest level Pro Traders’ Account for the most experienced and professional investors which requires a minimum initial deposit of $15,000.

How do I withdraw funds from my TudorTrade account?

It is very easy to request a withdrawal of funds from your TudorTrade account by simply submitting an online request. Withdrawals are processed within 3 business days and will be returned via the same method by which the deposit was made.

Does TudorTrade offer demo accounts?

Demonstration accounts are a useful way to try out the broker’s trading platform and features while allowing novice investors to get to grips with the basics of binary options trading. A demo account also allows more advanced traders to experiment with a range of strategies before committing any of their own funds to the enterprise. TudorTrade offers clients at all account levels the opportunity to open a free demo account, although the amount of virtual funds depends on the account type chosen. The Introduction account offers virtual funds of $100, the Trader’s account offers $300, the FX Traders’ account offers $2000 and the Pro Traders’ account allows virtual funds of $5000 to practice trading with.

Can I trade with TudorTrade through my mobile device?

TudorTrade’s trading platform is entirely web based, and therefore requires no downloads or installations. This means that it can be readily accessed from any internet enabled device, so you are able to trade from your tablet or smartphone just as easily as from your home PC. However, there is no dedicated mobile app which you can download to your device to make trading with TudorTrade more convenient on the go.

Does TudorTrade offer multilingual support?

No, at the present time, TudorTrade only offers its website and customer support service in the English language.

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