Utrader Review

Rating: 

Utrader broker is one of the binary options providers that does not get much reviews. What forces this broker to stay out of sight of broker reviewers? Read our Utrader scam review and you will find out!
Utrader Review
Min. Deposit: $250            Demo: N/A

Platform: SpotOption        Bonus: N/A

Regulation: N/A                  US Clients: Yes

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Utrader does not comply with our vision of a proficient binary options broker and not accidentally. In order to provide crystal-clear reasons why Utrader should not be your potential broker, we have prepared the following list:

  1. Not regulated by any authorised financial institution
  2. Poor diversification of tradable assets
  3. Little differences in features of offered accounts
  4. Absence of Islamic, PAAM/MAM accounts
  5. Unqualified customer support
  6. Transactions are not secured

We suggest clarifying every reason in detail further.

Utrader Scam Trust Review

Utrader provides trading services without any reputable license. It is quite risky to entrust your hard-earned money in brokers that have no regulation. When preparing this review, we discovered that Utrader had been struggling for two past years to obtain a CySEC regulation. For some secret reasons, it has not happened yet.

However, Utrader scam still tries to ensure that it is the best broker available in binary market. It even provides some fake awards, but no official certificates.

Utrader Scam Trust Review

Pick up one of the best binary options brokers instead.

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Is trading at Utrader worth it?

We believe that Utrader does not present the level of binary trading quality, which is generally anticipated from a professional brokerage. Although Utrader provides 90+ assets permanently available, the platform still does not supply the full capacity of options trading.

The following financial instruments are accessible on the Utrader binary platform:

  • Stocks
  • Currencies
  • Commodities
  • Indices

Since Utrader utilizes the web-based SpotOption platform, it is quite upsetting that there is no possibility to trade FX or CFDs. Additionally, the only binary trading types that you can select at Utrader are: Basic binary options, Long-Term, 60 seconds or Turbo options, One-Touch and Pairs.

If you are a beginner, then it would be useful for you to copy trades of leading binary traders by tracking their performance and profit from the strategies that they successfully implement. All this would be possible thanks to the iFollow feature powered by SpotOption. Unfortunately, at Utrader iFollow trading is disabled.

Utrader Reviews: Trading Accounts at Utrader

At Utrader, you are supposed to pick one of the 5 trading accounts: Start, Silver, Gold, Platinum and VIP. The minimum deposit requirement starts with $300 for the Start account. Accounts can be opened in 3 currencies: EUR, USD and GBP. Chosen currency cannot be changed later on.

Perhaps the main problem with the trading accounts at Utrader is that their features simply resemble each other. Hence, if you select the VIP account. do not really expect to have an edge in binary trading or experience more personalized approach to your needs. Although they might grant you some exclusive features, the price for this account is just not reasonable to pay.

Utrader Reviews: Trading Accounts at Utrader

Furthermore, Utrader does not offer demo account, Islamic account, PAAM/MAM or any account suitable for institutional investors.

Utrader Review of the Customer Support

Well, the customer support services represent a mediocre quality. It is still impossible to give customer support agents 5 stars for the assistance. For example, if clients have serious problems with their trading accounts or feel suspicious about Utrader, customer support usually ignores their concerns. We have read many individual Utrader reviews to get the whole picture. Therefore, we can conclude that customer support is able to provide help only in minor or basic questions, but simply cannot back up customers in significant issues.

There are 3 ways to contact customer support at Utrader: phone, Skype and email. Live chat is not available.

Utrader Review of the Customer Support

Utrader fails to provide secure transaction

We all know how important is the security of personal account data, which of course includes information about transactions made. Good brokers usually employ SSL encryption and offer segregated accounts to ensure the full safety. Utrader provides none of these features and thereby trading here becomes even riskier.

Thus we do not recommend you to deposit any money at this broker, because it can backfire tremendously on you.

Utrader binary broker review: The Bottom Line

Utrader is just one of the many scams that stand on your way. This broker cannot guarantee decent trading conditions to its customers nor it can prove its reliability. Do not sign up with Utrader. We recommend only those brokers that deserve to be trusted.

 

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RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Conclusion
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Utrader Broker
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