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TropicalTrade Broker Review 2020

FairBinaryOptions Broker Certificate
  • Min. Deposit $200
  • Max. Payout 85%
  • Min. Investment $5
  • Mobile No
  • Software Panda TS
  • Live Chat Yes

This broker is closed. 

Finding a reliable broker can be hard these days. Traders will be happy to know that TropicalTrade is a broker who provides amazing trading possibilities as well as great support. TropicalTrade promises high payouts and many trading benefits that will help traders gain even more profits. This TropicalTrade review will provide all the information a trader needs to make the right decision when selecting a broker.

Read TropicalTrade review below.

  1. Website Preview

  1. TropicalTrade Account Features

    TropicalTrade is always trying to provide a super service no matter the trader’s level of experience. That is why they put a lot of effort in creating several account types that will help traders make their choice. Of course, more expensive accounts offer more benefits, but even the smallest accounts have everything the trader needs to trade successfully.

    All account types are described on the website, and with many details. Altogether, there are 5 TropicalTrade account types.

    Basic

    • Minimum deposit $200
    • 20% welcome bonus
    • Junior broker
    • Risk free trades
    • Basic education

    Pro

    • Minimum deposit $2,500
    • 35% welcome bonus
    • Senior broker
    • 1 hour of 1-on-1 training
    • 1+2 level of education
    • General trading signals

    Gold

    • Most popular account
    • Minimum deposit $6,500
    • 70% welcome bonus
    • Executive broker
    • 3 risk-free trades
    • 3 hours of one-on-one trading
    • 1-3 education levels
    • General trading signals

    VIP

    • Minimum deposit $50,000
    • 50% welcome bonus
    • Executive broker and analyst
    • 5 risk-free trades
    • 7 hours of one-on-one trading lessons
    • 1-4 education level
    • Personalized trading signals

    Corporate

    • Minimum deposit $100,000
    • 30% welcome bonus
    • Corporate broker and analyst
    • 10 risk-free trades
    • Unlimited one-on-one sessions
    • Complete education center
    • Personalized trading signals

    According to the TropicalTrade review, this broker is a bit more on the expensive side, as all accounts (except the Basic account) cost more than industry average. This could discourage traders who don’t have significant funds to deposit. Somewhat lower limits would be more user-friendly and democratic.

    As it is visible in TropicalTrade review, this broker offers some very generous bonuses. In terms and conditions traders will find all necessary information regarding bonus trading. For example, the required turnover is x30, which is binary industry average.

  2. TropicalTrade Trading Software

    TropicalTrade review showed how this broker is using Panda platform. It is a fairly new platform, but it still provides everything the trader needs in order to trade profitably. Traders love this platform because it provides great insight into what is going on during the process of trading. It is expected that this platform will be even more popular in the future.

    Traders will be happy to know that the website is well designed and calming blue shades are not heavy on the eyes. All content can be navigated via the bar on the top of the TRopicalTrade website and additional categories listed on the bottom of the page.

    TropicalTrade is offering many interesting trading opportunities. For example, traders can trade high/low, one touch, range, and turbo options. Turbo options, also known as 60seconds, are called hyper on this trading platform.

    Traders who are looking for good portfolio diversification will be happy to know that Tropical trade provides currency pairs, commodities, indices, and stocks. Altogether, traders can invest in 71 assets which are a good number. TropicalTrade is a special broker in many ways, but one of the most interesting features is that it supports copy trading. This means that traders who are not sure in their decision can easily copy trades placed by experts, professionals and more advanced traders. This significantly increases their profit rate.

    Copy trading and social trading is a new trend in binary trading, and thanks to this feature, traders no longer have to make a special account with copy trading or social trading platform in order to take advantage of the knowledge of others.

    That is just another proof how TropicalTrade is very modern and advanced broker who doesn’t leave anything to chance but supports modern and innovative approach towards binary options trading. However, this broker still doesn’t have mobile apps but has them announced on the website.

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  3. TropicalTrade Support Information

    Customer support is one of the most important aspects of trading. Traders usually neglect this feature, but it is very important because good customer support means that the trader has someone holding their back in case something goes wrong. TropicalTrade website is available only in English.

    Traders will be happy to know that customer support provided by TropicalTrade can be reached via live chat, email and an online form. Addition of a telephone number would be great news, as some traders still value this type of personal approach.

    Good news is that TropicalTrade provides some learning materials that will help traders of all kinds. Educational section is available only to registered traders, and it is a misfortune that potential traders don’t get a glance of what is offered prior to depositing. The FAQ section provides some general insight into trading with TropicalTrade. Unfortunately, TropicalTrade fails to deliver with webinars and video courses that are very popular among modern traders who have much higher demands than ever before.

    Support Information
  4. TropicalTrade Company Information

    Financial aspect of binary options trading doesn’t come down only to investing, but also depositing and withdrawing. Safe banking transactions are a must nowadays. It is only natural to look for a broker that provides safe and smooth depositing and withdrawing.

    Traders who decided to trade with TropicalTrade will be happy to know that this broker supports some traditional and reliable banking methods. Traders can use their credit cards like Dinaers, MasterCard, Visa, VisaElectron, Delta, or simply go with the bank wire. All these methods are safe, but tend to be somewhat slower than modern e-wallets. TropicalTrade should consider adding at least listing some of the basic and most popular wallets in their portfolio, as they are impossible to find.

    TropicalTrade allows withdrawals strating with $1 which is good for traders who made lowers deposits or who want to clear out their account. Minimum deposit is $200. When it comes to withdrawing, there are several fees that apply, depending on the method used:

    • Credit cards: 3.5% fee
    • Bank wire: $30 fee
    • E-wallets: $10 fee

    While credit card and bank wire fees are common, e-wallets usually carry no fees attached. This makes trading with TropicalTrade more expensive. We can hope that this fee will be removed soon. In order to execute the withdrawal, the trader must have enough funds on the trading account to cover all costs.

    TropicalTrade is a broker owned by FLY Ltd, Stoney Ground, Kingston, VC0100 St. Vincent and the Grenadines. TropicalTrade is not a regulated broker but that doesn’t mean it is not reliable. FBO received no complaints regarding this broker.

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