Tradorax Withdrawal

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Tradorax Withdrawal

WARNING: Tradorax is SHUTTING DOWN due to reported financial malversations and numerous withdrawal frauds. Your funds deposited to your Tradorax trading account are not safe anymore, so you’ll have to choose a safe and regulated broker as your trading partner. Read our full list of recommended brokers and find the one that best suits your needs!

Tradorax is a binary options broker founded in 2020 and one of the few new companies which allow US traders to join them. This, along with many other interesting features, enabled Tradorax to quickly make a name for itself on the international level and attract many new clients. Here we will be focusing on the Tradorax withdrawal process and everything it entails. It is interesting to note how much effort has been invested into creating a perfectly safe trading environment for all traders, which is always a good thing for a new broker because it makes attracting new clients a lot easier. Keep reading to find out more.

Tradorax Withdrawal | Safety

Tradorax withdrawal is probably one of the safest withdrawals you can find in the binary options world because of its multiple layers of protection. A 256-bit SSL system is used to encrypt all of your personal and account information, which means that only you have access to them. Apart from that, McAfee and True-Site security systems are also used to keep the website safe, which goes way beyond the industry’s standard, as also stated in our Tradorax Scam Test. Keep in mind that you will have to confirm your identity prior to making your first Tradorax withdrawal, a standard procedure among all reliable brokers. A copy of any government-issued document you have (passport, ID, driver’s license) and a proof of your residence must be sent to the broker.

Tradorax Withdrawal Page

Tradorax Withdrawal | Methods and numbers

Just as with deposits, Tradorax withdrawal also offers plenty of transaction methods. Renowned brands such as Visa, MasterCard, Diners, CashU and Neteller are all available to you, but there are plenty more of them to choose from, which can be found in our Tradorax Review 2020 article.

Minimum Tradorax withdrawal is set to $100 and you get one to make one of those without any commission fees every month. Should you decide to make an additional Tradorax withdrawal in the same month, a $30 fee will be applied.

Keep in mind that every withdrawal request you make implies using the same method as when you deposited your funds in the first place. If that is, for some reason, not possible, you have nothing to worry about – the broker will process your request and send your money to your bank account via wire transfer.

Tradorax Withdrawal | Conclusion

As you can see, there really are a lot of possibilities when trading with Tradorax, especially when performing a withdrawal. The fact that this broker also accepts US traders only adds to the quality of their offer. But the most impressive thing is the level of protection this broker applies to every transaction which, along with numerous withdrawal methods, proves the dedication of this company to their clients.

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There is, therefore, not a single doubt in our mind that you should open an account with this broker today and enjoy a great trading experience they have to offer.

Tradorax is shutting down!

Tradorax Is Shutting Down

After almost three years on the market, Tradorax is shutting down. A fairly popular company in the binary options industry, they had a significant number of followers. So what went wrong? Well, that’s what we’ll try to discover in the rest of this article. We did a little bit of research and found out some things that can show you what you need to look for when examining a potential business partner. It’s always interesting to see the flow of events in cases like this, so read on to get a better understanding of why some brokers fail, while others manage to succeed in this business. Let’s go!

Tradorax is shutting down | No license?

First of all, there is still no official reason why Tradorax is shutting down. However, there are some facts that can help us make an educated guess. For example, it seems that the broker decided to accept traders from the United States although they did not possess the necessary license for it. In the long run, such policy will not get you very far, since the regulatory bodies in that country can be pretty strict if they come across a company that is not conducting its business the way it should. If you read why Banc De Binary is shutting down, you will see that the CFTC had a significant role in this big broker’s downfall and it seems very possible that they have dealt with Tradorax, too. But that’s not all, so stay with us.

Tradorax is shutting down | Withdrawal problems?

With all this in mind, you will certainly want to find a broker that conducts its business professionally and can provide you with a safe trading environment. We suggest you read our 24option Review 2020 because this is currently one of the best brokers in the world. But to get back to our main story, many new cases of withdrawal frauds and other types of financial malversations involving Tradorax have surfaced recently, which can also be a reason why Tradorax is shutting down. Therefore, if you have a trading account with them, we recommend you stop trading and try to withdraw your funds immediately. This is not a company worth anyone’s money anymore and you would do well to find an alternative. Our website can help you with that.

Tradorax is shutting down | Conclusion

So, Tradorax is shutting down and that seems to be inevitable. Although an official reason for that move has not been disclosed yet, many things have surfaced that can help us make a very educated guess about what went wrong. Simply, there were too many bad practices in the way the company conducted their business. We honestly recommend that you avoid investing with this company at all costs. There are so many other competent brokers on the market, so you should have no problems finding the one that suits you just fine. A great alternative was already offered in this very article.

Tradorax

It’s hard to say for sure where Tradorax is located or who owns it because they don’t list the information on their website or in the terms and conditions. At last check they claimed to be operated by Beta Tech LTC, registered in London at 35-37 Ludgate Hill, ECM 7JN, London, UK. Just FYI this is a virtual office address headquartering more than 2,500 other businesses. Basically it’s a PO Box. This company is not registered or regulated by the British FCA or CySEC. They can be contacted by live chat if you want to get a canned response or email.

The Tradorax Platform

The Tradorax Platform is proprietary and called TDorax ™ . It is built by a group of “professional” brokers with an entrepreneurial mindset and vast experience in the world of trading. Trading is standard ‘old school’ binary digital contracts with high/low, one touch, boundary and short term options. Expiry for high/low isn’t bad. There are multiple intraday starting with 10 minutes and moving out to end of day, end of tomorrow, next week and next month to the 5th month out on most assets. The asset list is pretty good, not quite as full as SpotOption but everything I saw was trading or scheduled to be open soon. All four categories are present; stocks, indices, commodities and forex. Each categories is flush and what I would call above average; at least a dozen international indices, at least 75 international stocks, 12 commodities including a few pairs and 30 forex pairs.

Deposit And Withdrawal

Banking with this broker is super easy, at least on the way in. Deposits can be made with CC, wires or over 2 dozen internationally accepted web payment services. The minimum deposit is only $25 in the currency of your choice, very low and accessible for anyone who wants to trade. Of course this is the minimum re-deposit after you make the initial $250 they tell you about once you try to sign up. The maximum is unlimited but I’d be careful giving these too much. The minimum withdrawals is $100 and there is 1 free per month, after that it will cost $30 per payment. Withdrawals are made back to the card/account originating the deposit but if you take a bonus you may never have to worry about that.

The company gives an attractive 100% initial deposit bonus for “qualifying” customers. Qualifying of course means you give them real money and they give you some fake money, with strings attached. The bonus terms require 30X turnover of deposit + bonus before withdrawals and say bonuses can not be retracted once given.

When first launched we held high hopes for them, they claimed to be here for the traders and offered great terms and payouts. The bad news is that since then they have devolved into the stereotypical scam broker using all the tricks we have come to know and loathe. This broker uses high pressure sales tactics with cold calls and leads generated through marketing programs. The website makes promises of easy riches with little said in the way of caution, what is there is in the fine print. Once you join the bonuses are there to lock in your deposit with onerous turnover rates preventing you from making withdrawals. Trading tips and managed accounts are offered with promises of guaranteed win rates that never pan out. Basically, Tradorax is a money funnel designed to suck your wallet dry.

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