The Russian-based uTrader binary options broker is primarily aimed at the Russian-speaking market in Eastern Europe, but does also offer accounts in English to traders from around the world. Although Western traders may find that uTrader.com does things a little differently than they are used to, there are some advantages to this broker. If anything, the minimalist website design and straightforward trading platform are a breath of fresh air in the cluttered broker market.
Software and Features
By utilizing the SpotOption platform, uTrader is able to offer its traders one of the most powerful platforms on the market, though one which is still incredibly easy to use. In keeping with the simple website design, the platform looks smart and clean and is ideal for casual traders. Unfortunately, the site itself has few extra features in English, though the Russian site is a bit richer. There are almost no educational materials, no demo account, and just a few market analyses. A casual trader who knows what he is doing should be fine here, though. English customer support is available over the phone or through live chat, although that is only available during Russian business hours.
Option Types Offered
A mere 41 stocks, indices, commodities, and currencies were available to trade at the time of our uTrader review, although that will no doubt increase with time. These assets could be traded via call/put options ranging in length from 15 minutes to one month. As a new broker, uTrader has not taken advantage of all the power of the SpotOption platform yet and that should improve as well. Returns are pleasantly above average, with many in-the-money options paying 85% while rebates are offered on some losing trades.
Account Types Offered
At this time, there doesn’t appear to be any sort of tiered account system at uTrader.com. Instead, it is best to contact customer service when you register an account in order to see what they can offer you as far as account features and uTrader bonus opportunities. The minimum deposit is a very reasonable 100 in EUR, GBP, and USD, while Russian Rouble accounts have separate requirements. Deposits and withdrawals are secured by SSL encryption and can be made through credit cards, e-wallets, and wire transfers.
Russian-speaking people will certainly find uTrader to be a great site tailored to them and their needs. However, uTrader has yet to target their platform and services effectively to the larger global audience. There is no reason to think this won’t change and as a new broker, uTrader.com has a lot of potential to become one of the better binary brokers in the whole world, not just Eastern Europe.