Is Tradeplus a Scam

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Is Tradeplus a Scam?

Is Tradeplus a Scam?

Tradeplus is one of the newest brokers to appear on the binary options market and they have made quite a splash in the industry primarily because of the features they offer. Low financial requirements, excellent trading platform and incredibly high payouts are this company’s trump cards, so it seems pretty logical that they’ve already drawn a lot of attention to themselves. However, more careful traders will examine the broker’s website in search of a potential Tradeplus fraud. Perfectly reasonable if you don’t know the company, and we’re here to help. Our team has tested the security system and will give you a detailed report in the following paragraphs. Read on!

Is Tradeplus a Scam? | Regulated

Asking is Tradeplus a scam usually means that somebody wants to know whether or not money transfers on the broker’s website can be trusted. We tested both credit card methods (MasterCard and Visa) and bank wire transfers, with zero problems. Everything went very smoothly, especially when it comes to withdrawals which were executed very quickly (USD is the currency that can be used here). This is not very surprising because the company is regulated by VFSC, so we can be sure that they adhere to all trading rules and regulations. With all that in mind, we honestly think that there is no reason to wonder about any kind of Tradeplus scam. As a matter of fact, the thing we discuss in the following paragraph will convince you of that. Stay with us!

Tradeplus Account Opening Page

Is Tradeplus a Scam? | Pending regulation

Tradeplus is currently not available in the EU because the process of acquiring their CySEC license is not finished yet. Unlike some other brokers, Tradeplus have decided to postpone expanding on the European market until they have all the necessary documents. This just goes to show how much they care about their future clients because they don’t want to put them in an awkward position of trading with an unregulated broker. We have absolutely no doubt that they will get their license very quickly because they treat their clients with great care and respect, plus they already have one license to prove they are trustworthy. European traders can, therefore, expect an exciting new broker very soon, and if you want to learn what to expect from this interesting new company just read our Tradeplus Review 2020.

Tradeplus Home Page

Is Tradeplus a Scam? | Conclusion

So, is Tradeplus a scam broker? In a word – no. Although they are a new broker, they already have a license and are about to acquire a second one, too. All money transfers are executed quickly and safely, so your money will always get where it needs to be. After examining them closely, we believe this company to be a very pleasant surprise and a welcome addition to the binary options industry. There is no need for you to worry about Tradplus’ security system. Just open an account with them and start trading.

7 Binary Options

UPDATE (08.08.2020):

TradePlus has shut down their operations.

We recommend choosing one of our top binary option brokers instead:

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Old Review:

Binary options are now the best and most exciting way to trade financial assets online. But to achieve any success in this industry, investors need a reliable partner; a brokerage partner that will provide a safe trading environment and enable them to thrive. Tradeplus is exactly this – a broker that goes the extra mile to ensure their traders achieve binary options trading success.

Tradeplus has a comprehensive ‘About Binary Options’ section on their site that is regularly updated and can help all types of traders improve their binary options trading knowledge and skills. When you feel ready, this leading broker has a free Practice mode, where traders can forward test their trading strategies in the market, risk-free. Trading in practice mode can also help novice traders learn how to navigate the new, intuitive Tradeplus trading platform.

Basic information:

Online since: 2020
Jurisdiction: Belize
Software: in-house development
Max Returns: 90%
Bonus: 100%
Minimum Deposit: $50
Minimum Investment: $5
Maximum Investment:
Currencies: USD, EUR, GBP
Mobile: Yes
Countries: All nations excl. US

  • Small initial minimum deposit requirement
  • No strings attached first deposit bonus
  • Advanced interactive platform with charting capabilities
  • Wide range of assets and lucrative contracts
  • High returns, up to 100%
  • Practice mode available
  • US traders not accepted

7 Binary Options Rating:

The Platform and Regulation

The Tradeplus platform is really one of a kind.

Here are some points to prove that statement correct:

  1. They are offering traders up to 100% returns on their successful trades
  2. It is web-based, but there is a downloadable version that allows traders to access historical prices, even when they are offline
  3. Tradeplus also offers mobile platforms, compatible with both iOS and Android
  4. All the platforms have similar functionality and traders can seamlessly shift between them as they trade their favorite assets, using the lucrative contracts that Tradeplus offers.
  5. Although a new broker, Tradeplus is fully regulated (a very important factor in binary options)
  6. Operated by SVCM Limited, Tradeplus is headquartered in the prestigious location of St. Vincent and the Grenadines (registration number 23368 IBC 2020) as well as licensed and regulated by the Vanuatu International Financial Services Commission (under license number 300352), one of the principal regulatory agencies in binary options
  7. Such regulation means that customer funds are kept in segregated accounts and that Tradeplus is subject to random platform checks by the VFSC to ensure that traders always receive transparent price quotes throughout.

Tradeplus Advantages

There are always many advantages of trading with a new broker; because they should offer something exceptional in order to break into the fairly saturated market. For Tradeplus, the major selling point might well be its trading platform. With delightful and appealing graphics, the platform has advanced and interactive trading charts that can help traders perform quality analysis on their favorite assets.

The chart has numerous trading tools and an investor sentiment analysis tool. There is also innovative analytics that can help traders identify the best assets to trade in any given trading session, as well as real time risk analysis tools that alert traders on their overall exposure in the markets. The Tradeplus trading platform not only allows traders to enter, manage or exit trades in the market, it also ensures that they make the optimal trading decision at all times.

Another benefit of the Tradeplus platform is that it offers a user-friendly dashboard which enables traders to stay on top of their trading activities with ease. From the dashboard, a trader can view details of their trading account which includes important information, such as current balance, an amount deposited in the month, total withdrawals, a trading summary and more. Traders can also request a withdrawal from the comfort of the dashboard, and deposit funds using the safe and secure options provided by the broker.

Screenshot of the Software

Tradeplus also offers new traders a first deposit bonus of $50, with no strings attached and no fine print. You can trade with it, make money and withdraw the funds. In addition, when it comes to withdrawals, Tradeplus is the first binary options brokerage firm to perfectly execute express withdrawals. As long as you have completed their security verification process, you can withdraw your profits anytime you want, no questions asked.

Tradeplus allows traders to trade their favorite global assets using lucrative contract types that include:

  • High/Low
  • Spread High/Low
  • Short Term
  • Short Term Spread

This choice of contract types allows traders to easily diversify their trading portfolios and to meet their trading preferences. Again, a first in the industry, Tradeplus traders can earn returns as high as 100% on the trades that end successfully or in the money.

Tradeplus is also fully regulated, a not so common feature with new brokers. Tradeplus is regulated by the trusted VFSC (Vanuatu International Financial Services Commission) and this gives binary options traders the peace of mind that their money is safe and they are dealing with a broker whose activities are monitored by a body that is out to protect them.

Screenshot of the TradePlus Website

Screenshot of the Registration

Bonuses

As a new broker, Tradeplus does not disappoint. Register and deposit $50 or more and you will automatically receive a no strings attached $50 bonus. The no strings $50 bonus is exactly that; no fine print or trading volume conditions. With this extra trading capital provided by Tradeplus, traders can stake even more on their trades so as to make more profits.

But this broker has more to offer its traders. The more you trade, the more you are rewarded at Tradeplus. The broker runs a lucrative LOYALTY+ program where traders earn a point for every $10 traded. Tradeplus also awards lifetime loyalty points that never expire, and when accumulated, they can help traders access even more promotions and rewards as well as instant cash bonuses.

On sign up with Tradeplus, a trader automatically qualifies for the LOYALTY+ Basic level. The more a trader trades, the more they advance in the Loyalty program and can qualify for more loyalty points and instant cash bonuses up to $800. In addition, the Intermediate, Semi Pro and Pro levels in the Tradeplus LOYALTY+ program also have SKILL+ cash bonuses, where a trader can earn over and above their LOYALTY+ bonuses. Full details of the Tradeplus LOYALTY+ program can be found on the broker’s site.

Maximum Profit (Payout)

It was a pleasant surprise to find out that Tradeplus offers high returns of up to 100% on successful trades. These are not just great returns, but the very best in the binary options industry, which says a lot about the company. After performing analysis, making a trade prediction and entering a trade, you can be sure that Tradeplus will reward you generously if your predictions are correct.

Another big advantage is that the payout percentage is clearly defined on the trading platform so a trader knows exactly what they stand to earn even before they make a trade. Tradeplus has also not put any limit on the investment amount, and the minimum investment per trade is only $5, making binary options trading affordable for all traders.

Testimonial

Account Types

Everyone is a VIP at Tradeplus, and that is the reason why there is no tiered system of account types. To sign up for an account is very easy to do: simply click on the ‘Sign Up’ button on the Tradeplus site and fill out the application form by providing some basic information – within minutes, your Tradeplus account will be opened.

To begin trading, traders can then proceed to making a deposit. Deposits can be made from the comfort of one’s trading account and can be made using major debit or credit cards, as well as international bank wire transfer. All trading accounts are maintained in US dollars but Tradeplus accepts deposits in multiple currencies. To make a deposit, simply log into your account and click on ‘Add Funds’. The minimum deposit is $50, and if you use a credit card, trading can begin within a few minutes of completing a deposit.

A big advantage of trading with Tradeplus is that once your account is opened, a trader can then trade in demo mode. Click on ‘Practice’ located on the trading platform and you are able to trade binary options with virtual funds, so there is no risk. Demo trading is important for both new and experienced traders. New traders can learn how to trade binary options as well as how to navigate the platform, while experienced traders can use it to develop, tweak or forward test their trading strategies in the market, risk free.

Assets

On the Tradeplus platform, traders can trade over 30 global assets that include commodities, forex (currency pairs) and indices.

These assets can be traded using lucrative option contracts such as:

  1. High/Low
  2. High/Low Spread
  3. Short Term
  4. Short Term Spread

The Tradeplus platform streams live interbank prices with quotes delivered by FXCM (Forex Capital Markets) which is a great feature as it enables traders to keep updated with the latest financial news. In addition, trades can be executed quickly, ensuring no latency or slippage whatsoever.

Trading Platform

The Tradeplus trading platform is web-based, but a downloadable version is also available. On the right-hand side of the platform, traders can access the latest market news that is streamed in real time as well as gain access to an economic calendar. The benefit of having this information readily available is that it enables traders to plan their trades effectively and conveniently, without having to leave the platform.

The Tradeplus platform also has a new, advanced charting package, where:

  1. Traders can access long-term historical prices and in any particular trading session
  2. They can view the best assets to trade, in terms of volatility and liquidity
  3. Traders can also access numerous powerful trading tools including indicators and trend lines, which can help them perform quality analysis on their selected assets
  4. Another great feature is that a list of the available assets to trade are conveniently placed at the top of the platform, including their payout percentage.

Screenshot of Trading AUD/JPY

As mentioned before, a trader can track their trading activity using their personal dashboard available on the platform. The detailed information and breakdown of one’s trading activities can help a trader to identify their areas of strength or weaknesses so they can optimize accordingly and improve their trading activity.

Mobile App

We live in a fast-paced world and with the rise of smartphones, more and more traders are using their mobile devices as their gateway to binary options trading. In this way, potentially profitable trading opportunities are never missed. To meet their traders’ needs, Tradeplus offers a free mobile trading app which is available for download on Apple iTunes and the Google Play Store.

Unlike other mobile platforms in the market, the Tradeplus app is fully optimized for active trading, enabling traders to trade all the available assets and the different contract types, while on the go. In addition, technical analysis tools can also be easily accessed, enabling traders to make trading decisions from anywhere. The app is well-designed, is easy to use and to navigate and with its powerful touch capabilities, you can take your binary trading with you wherever you go.

Screenshot of Tradeplus Mobile App Installation

Placing Trades

There are four types of contracts available at Tradeplus:

  • High/Low
  • Short Term
  • High/Low Spread
  • Short Term Spread

The High/Low option is similar to the standard Call/Put or Up/Down options. That is, a trader simply needs to predict if the price of the selected asset will rise or fall by the expiry of the trade. The magnitude of this price movement is not considered, only the direction.

The Short Term contract types are for traders who like the fast-pace of trading. Here traders can open trades with expiry times as short as 30 seconds, 60 seconds, 2 minutes, 3 minutes and 5 minutes. The Spread options available on the Tradeplus platform are traded with the standard Bid/Ask method of price making. Placing trades on the Tradeplus platform is very straightforward: choose the asset to trade, select the contract, choose your preferred expiry time, enter your investment amount and then execute the trade based on your trading prediction. Traders can place trades with expiry times as short as 30 seconds or as long as 24 hours.

Banking (Deposits and Withdrawals)

The minimum deposit required to begin trading binary option assets at Tradeplus is $50. This is one of the lowest deposit requirements in the industry as most brokers have a minimum deposit requirement of $250. Deposits can be made using popular credit and debit cards including Visa or MasterCard as well as bank wire transfer. The base currency of every account at Tradeplus is maintained in US dollars but the broker does accept other currencies which are converted using the existing, transparent live rates.

The withdrawal process at Tradeplus is seamless. A trader can log into their trading accounts and click ‘Withdrawals’. The broker does not charge any fees for the withdrawal process but traders should check with their banks regarding any charges or fees that may be levied. In addition, Tradeplus does not have any limits on withdrawals.

For peace of mind and to ensure the safety of their traders, Tradeplus operates a secure, reliable and efficient payments processing system that uses the latest 128 SSL encryption to transmit all data on their platform.

Screenshot of Payment Methods

Customer Service

The trader is the main focus at Tradeplus. On their website, Tradeplus has a comprehensive FAQs section that just about covers any issue, question or clarification a trader may have. To top it off, they also have a knowledgeable and dedicated customer support center that serves traders around the clock. They can be contacted anytime via email, phone or live chat.

For email, just go to the Contact page and fill out the contact form – you will be contacted within a day. You can also send an email directly to [email protected]

The live chat function is available on the bottom right corner of the site, and you only need to type your enquiry and one of the staff will attend to you in real time. For phone enquiries, simply request a callback or just call directly on the number +44-2070480506.

A big appeal about Tradeplus is that they will never call you for any upsells or any other reason, unless you specifically request to be contacted. This broker has ensured that they never ‘bother’ their traders – they will offer their help and support only when they are asked to do so.

Conclusion/ Summary

Tradeplus might be a late entrant into the binary options field, but they have managed to create the ultimate trading environment for traders. With a robust trading platform that boasts advanced charting as well as efficient payment methods and excellent customer support, Tradeplus has ensured that traders have all they need to carve out a successful trading career. Furthermore, Tradeplus is fully regulated, which means traders can focus solely on their trading activities, while the broker takes care of the rest.

Additional information

Customer Service: Contact form / Email / Phone
Languages: Arabic and English
Trading Options: High / Low, One Touch, 60seconds, Long Term. Pair Options, Ladder Options
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: from 30 seconds to 24 hours.
Deposits and Withdrawals: Visa, Mastercard, Bank Wire
Withdrawal Time: 3 days
Demo account: No

Tradeplus Consumer Complaints

Tradeplus is an online stock broker (hybrid of traditional and discount broker) offering trading & investment at BSE, NSE and MCX. Tradeplus is famous for its unlimited zero brokerage trading plans which offer infinite trading at a fixed monthly fee in few segments. The unlimited trading plans are available in Commodities, Equity&Options and Currency Derivatives segments. Tradeplus also offer demat account services at a low AMC charge of в‚№90 per year. Tradeplus also offer Online Mutual F.

Complaint against Tradeplus Broker

Tradeplus brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Tradeplus customers. The Tradeplus consumer complaints report analyzes the Tradeplus online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Tradeplus broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Tradeplus complaint no. report also provides Tradeplus’s number of active clients. This shows the growth of the broker year on year.

Tradeplus Consumer Complaints

Exchange Financial Year Number of Clients Total Complaints
NSE 2020-20 10,757 13
BSE 2020-19 318 1
NSE 2020-19 8,997 22
BSE 2020-18 786 1
NSE 2020-18 7,421 13
NSE 2020-17 5,752 6
NSE 2020-16 4,141 3
NSE 2020-15 3,854 21
NSE 2020-14 3,706 14
NSE 2020-13 19,476 1
NSE 2020-12 18,170 3

Tradeplus complaint at NSE

2020-20 2020-19 2020-18
Defaulter Yes/No No No No
No. of clients at the beginning of the year
No. of active clients 10757 8997 7421
No. of complaints received * 13 22 13
Resolved through the exchange 12 21 13
Non actionable ** 0 0 0
Advised / Opted for arbitration 0 0 0
Pending for redressal with exchange 1 1 0
No. of arbitration filed by clients 1 2
Decided by arbitrators in favour of the clients 1 2
Decided by the arbitrators 0 0
Pending for redressal with arbitrators 0 0
% of No. of complaints as against No. of active clients 0.12 0.24 0.17
% of complaints resolved as against complaints received 92.3 95.45 100

Tradeplus complaint at BSE

2020-19 2020-18
Defaulter Yes/No No No
No. of clients at the beginning of the year 17802 11771
No. of active clients 318 786
No. of complaints received * 1 1
Resolved through the exchange 1 1
Non actionable ** 0 0
Advised / Opted for arbitration 0 0
Pending for redressal with exchange 0 0
No. of arbitration filed by clients 0 0
Decided by arbitrators in favour of the clients 0 0
Decided by the arbitrators 0 0
Pending for redressal with arbitrators 0 0
% of No. of complaints as against No. of active clients 0.31 0.13
% of complaints resolved as against complaints received 100 100
  • * Including against its sub brokers, authorised persons, employees, etc.
  • ** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange
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