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Old Tropical Trade review
Tropical Trade combines unique payouts with great short-term profitability and first-class security. In our Tropical trade review, we tell you how to use these advantages to make money with binary options.
In this article, we will focus on these aspects of Tropical Trades business:
- Unique features,
- Assets and binary options types,
- Banking and security, and
- How to get started with Tropical Trade.
Having analyzed all of these features, you will be able to decide whether Tropical Trade is the right broker for you.
The unique features of Tropical Trade
Tropical Trade offers a number of features that make their service uniquely attractive to some trading styles. Let’s take a look at these features one by one.
- Unique expiries: Tropical Trade offers expiries that are impossible to find with other brokers. Especially short-term traders can use these expiries to trade more accurately and more profitable than with any other broker. Long-term traders can profit from expiries that last until the end of the year. We will elaborate on Tropical Trade’s expiries and how you can use them to make money in the section on assets and binary options types.
- Accounts starting at $200. Most binary options brokers require you to deposit a lot of money before you can use the advantages of their account system. With Tropical Trade, a $200 deposit is enough to get their entry level account. Since this account already provides you with a 25 percent deposit bonus, this is an advantage for every new trader who is short on cash. We will take a closer look at Tropical Trade’s account model in our analysis of Tropical Trade’s banking later in this article.
- Intriguing assets: In addition to all the classic assets you can expect from any binary options broker, Tropical Trade offers a number of assets that are tough to find anywhere else. You can, for example, invest in the Bitcoin in relation to the US Dollar and three other major currencies. No other broker offers this option. We will take a closer look at Tropical Trade’s available options later in this article.
Now that we have settled the basics let’s take a closer look at each aspect of Tropical Trade’s service.
Tropical Trade: assets and binary options types
Tropical Trade’s selection of binary options trades combines classic types with unique expiries that can help you trade better. As we already alluded to, especially short-term traders can profit from Tropical Trade large selection of ultra-short expiries.
Let’s look at Tropical Trade’s binary options types one by one.
- High / low options: High / low options are the classic binary options type, allowing you to predict whether the market will rise or fall over a given period of time. Tropical Trade offers high / low options with expiries from a few minutes to expiries that last until the end of the year. This is a much bigger selection than what other brokers offer, which mostly cap their expiries at a few hours. Having the added options can be a helpful tool if you want to take advantage of long-term trends.
- One touch options: With Tropical Trade’s one touch options, you can predict whether the market will reach a target price. Most brokers use a faraway target price and offer high payouts on one touch options, making them a high risk/high reward type of investment. Tropical Trades, however, decided to use a target price that is closer to the current market price and payouts that resemble high / low options, making their one touch options a good tool for traders that want to trade a less risky version of one touch options.
- Range options: Range options are a combination of high / low options and one touch options, enabling you to predict whether the market will trade in a predefined range above or below the current market price. The interesting thing about this option type is that Tropical Trade offers their expiries in 15 minutes steps. That means, at 11:10 AM, you can invest in an expiry at 11:15 AM, at 11:30 AM, and so on. By choosing the first option, you can invest in a range option with an effective expiry of 5 minutes, which allows short-term traders to make relatively secure predictions and increase their winning percentage.
- Hyper options: Hyper options are a variation of high / low options. With expiries from 30 seconds to 600 seconds, hyper options enable you to trade the shortest of time frames and take advantage of the quickest of movements, for example, breakouts and setbacks. Tropical Trade offers their hyper options with more payouts than any other broker offers on similar options, which enables short-term traders to make more accurate predictions and increase their winning percentage.
With this selection of binary options, Tropical Trade offers the right tools for every type of trader. Especially short-term traders profit from the large section of expiries for hype options and of the intriguing chance to invest in range options and one touch options with expiries based on 15-minute intervals.
Tropical Trade offers assets in four categories:
- Indices, and
In each of these categories, Tropical Trade offers the classic assets you would expect, but also a few unique assets that are difficult to find with other brokers.
For currencies, for example, Tropical Trade offers all the big currency pairs that many traders use as the basis for their trading strategies, for example all possible combinations of the Euro, the US Dollar, the Yen, and the British Pound. You can, however, also trade currency pairs involving smaller currencies such as the Canadian Dollar, the Swiss Franc, or the Australian Dollar. Finally, Tropical Trade also offers four assets that are almost impossible to find anywhere else. You can trade the Bitcoin in relation to the US Dollar, the Euro, the British Pound, and the Japanese Yen. Since many people who like to trade online are familiar with Bitcoin, this is a nice bonus that can help out many traders.
All other asset types share a similar structure of classic, niche markets, and absolutely unique assets. With this selection, every trader can find the asset they want.
Tropical Trade: banking and security
When it comes to banking and security, Tropical Trade maintains the high quality traders have come to expect from the broker.
Easy deposit and withdrawals, but also clever safety features
Tropical Trade offers these deposit and withdrawals methods:
- Credit card / debit card, and
- Wire transfer.
Contrary to what most other brokers offers, all of Tropical Trade’s deposit methods can also be used for withdrawals. That makes your banking easier. Instead of having to juggle a number of deposit and withdrawal methods, with each of them only available in a specific situation, Tropical Trade offers two straightforward deposit and withdrawal methods that are the only thing 99 percent of trades want to use anyway. Who needs an obscure online payment provider nobody uses?
The main difference between credit card / debit card and wire transfer deposits and withdrawals is the time it takes for your money to reach your account. Credit card / debit card information can be sent over the internet, which is why deposits are immediate, and withdrawals are processed within 48 hours. For wire transfers, however, you have to factor in the processing time of your bank, which is why deposit and withdrawals will take multiple days. If speed is important to you, deposit and withdraw money with wire transfer.
Even though Tropical Trade focuses on simplicity, there are, nonetheless, anti-money-laundering laws and other security concerns Tropical Trade has to consider. Consequently, there are two things you should know before you start with Tropical Trade:
1. You can only withdraw as much money via credit card as you deposited with the exact same card. To prevent money laundering, Tropical Trade has to restrict the use of credit cards. Criminals like to use credit cards to transfer money from card to card hundreds of times and cover their tracks. The internet’s anonymity provides the ideal platform for these activities, which is why online businesses have to defend themselves. If you deposited $1,000 with a credit card, Tropical Trade can therefore only allow you to withdraw these $1,000 with the exact same credit card. If you do not want to use the same credit card, you have to use wire transfer.
2. You can only withdraw money into bank accounts that are in your name. For wire transfer withdrawals, you can only withdraw money into a bank account in your name. When you register with Tropical Trade, it is, therefore, important that you use your real name. Some traders use a fantasy name to remain anonymous, but this approach will come back to hurt them when they want to withdraw money. Avoid the same mistake.
Both of these points also increase your security. Even if someone steals your password, they could not steal your money. With your credit card and your bank account as the only available withdrawal methods, no criminal could withdraw money to their credit card or their bank account.
Tropical Trade, however, refuses to rely on these security features alone. Encoding all transmissions between you and their trading platform with the SSL encryption protocol – the safest thing the web has to offer – and employing a thorough validation process for every withdrawal, Tropical Trade’s security lives up to the highest standards.
Tropical Trade account types
Depending on how much money you deposit with Tropical Trade, you get a different account type. Like most brokers, Tropical Trade uses an account model to get the best features to traders that deposit more money. For newcomers, these account models always pose the challenge of finding the account type that provides them with powerful features but also fits their limited budget.
The Tropical Trade account model makes this decision easier on you. Their first account starts for only $200 and already provides you with a 20 percent welcome bonus on your first deposit and a junior broker to help you. Many other brokers require you to deposit at least $500 or even $1,000 to qualify for their lowest accounts, which is why Tropical Trade is one of your cheapest options to get started.
If you should have a little more money available, you can target Tropical Trade’s pro account. Starting at a deposit of $2,500, the pro account gets you a 35 percent welcome bonus on your first deposit, a senior broker to guide you, one hour of one-on-one coaching, and trading signals. That is almost everything you need. Higher accounts offer you a bigger welcome bonus; pro account offers you everything you need for a deposit of only $2,500 – such an offer is difficult to find with other brokers.
How to get started with Tropical Trade
If Tropical Trade sounds like a broker you want to trade with, you can sign up with them within a few minutes. All you have to do is follow these three simple steps:
- Follow one of our links to the Tropical Trade sign up form.
- Fill out the form and send it.
- Deposit money into your account.
Once you fill out the sign-up form, you have an account. Once you have deposited money into your account, you can start trading. Use credit-card deposits, and you can complete the entire signup process within 5 minutes.
Tropical Trade’s unique combination of short-term expiries, unique payouts, and first-class security offers traders of short-term binary options the ideal environment to make money. If you like to trade short-term assets yourself, we suggest you follow one of our links and give Tropical Trade a try now!