Tradorax Review

Tradorax review
Tradorax Fees Explained

• Tradorax withdrawal fees varies on payment method
• Tradorax does charge a fee for inactive accounts.
• Tradorax does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How Tradorax Fees Compare Against Other Brokers

Tradorax review
Tradorax Minimum Deposit

Tradorax require a minimum desposit of 250 GBP/USD when opening an Tradorax trading account.

A minimum deposit is the minimum amount of money required by Tradorax to open a new online brokerage account with them.

Dont be scared off by brokers like Tradorax charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Tradorax review
Tradorax Withdrawal Fees

Tradorax withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.

Tradorax for example allow you to withdraw your funds to Credit cards, Skrill, Neteller.

Tradorax review
Tradorax Inactivity Fees

Tradorax does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Tradorax review
Tradorax Desposit Fees

Tradorax does charge deposit fees.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Tradorax review
Tradorax Commission Fees

Tradorax does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Tradorax review
Trading on Tradorax web platforms and other applications

Tradorax offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

An Tradorax IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

Tradorax also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See Tradorax's platforms

Tradorax review
Is the Tradorax Trading Platform Secure?

Tradorax safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. Tradorax also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating Tradorax.

Tradorax review
Tradorax Trading Platform Options

Tradorax does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

Tradorax offer an their own custom trading platform developed and tested in house. The Tradorax trading platform allows traders to track their portfolios, track the current markets, locate trade ideas and place trades.

The Tradorax platform allows traders to filter the financial marketplace for trade opportunities that match a criteria.

With Tradorax you can look for and examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the Tradorax platform including news and quotes. Discover possible trades with the strong charting tools found with Tradorax. Tradorax is available as downloadable applications or online through the cloud. Monitor your orders with Tradorax and receive breaking news in your positions.

Tradorax Trading benefits :

• Low min deposit

Tradorax Trading Accounts Offered :

Below we give an overview on the account types that Tradorax offer. Whatever you are looking to trade the varying Tradorax account types will be able to provide you with what you need.

• Mini account
• Standard account

Can I try Tradorax before I buy?

Tradorax offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

Tradorax withdrawal and funding methods.

Please note that the list of Tradorax payment methods below depend on the Tradorax Entity and the Clients Country of Residence.

All available Tradorax payment methods available to you can be found in your Tradorax members area checked on the Tradorax website.

Tradorax offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about Tradorax

Tradorax Payment Methods

• Tradorax accepts Credit cards
• Tradorax accepts Skrill
• Tradorax accepts Neteller

How can I start trading with Tradorax?

When opening a trading account with Tradorax, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Tradorax trading platforms here. You will need to provide some basic documentation to prove your identity as part of Tradorax onboarding and normal KYC identity checks. These checks are standard practice and help Tradorax provide a safe financial environment for their 10,000 users.

Your capital is at risk

Performing trades with Tradorax

Tradorax allow you to execute a minimum of trade of varies. This may vary depending on the account you open. Tradorax allow you to execute a maxium trade of varies.

As a market maker, Tradorax may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the instruments.

Tradorax Leverage and Tradorax CFDs Explained

let's take a look at some of the basics of using Tradorax leverage.

Tradorax offer CFD which are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

Tradorax leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the Tradorax trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The Tradorax leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

Tradorax CFDs are typically used for short to medium term trades. For example Tradorax intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk

Education resources at Tradorax

To trade effectively with Tradorax, it's important to get a have a good understanding of the Tradorax trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with Tradorax and externally.

Tradorax offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with Tradorax.

Take time to look around the Tradorax platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Tradorax

As part of our Tradorax review we review customer service options, response times and Tradorax trading platform problem resolution effectiveness.Tradorax support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

Tradorax have a D grade support rating because because sometimes the response was slow or our query wasnt answered. Tradorax less customer support features compared to other brokers like live chat, phone and email support.

Livechat Support at Tradorax

Tradorax does not offer LiveChat Support.

Email Support at Tradorax

Tradorax does not offer Email Support.

Phone Support at Tradorax

Tradorax does not offer Phone Support.

See how Tradorax Support Compares Against Other Brokers

What you will need to open an account with Tradorax

As Tradorax is regulated by Unregulated, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Tradorax Brand may be different.

• A scanned colour copy of your passport, driving license or national ID
• A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Tradorax's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Tradorax you can visit the Tradorax trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.tradorax.com/ on February 24, 2021.

Tradorax review written by Andrew Blumer and Mark Hansen