Trusted Broker By BinaryOptionsThatSuck.com
|No. Of Assests :||63|
|Demo Account :||Yes|
|Deposit Options :||C.C., Wire Transfer, more|
|Language :||English and Russian|
|Minimum Deposit :||250|
Review Last Updated 2014-08-27 13:34:04
Editor’s Note – Why TitanTrade DOESN’T Suck in 50 Words?
Right from the start, I could see I am dealing with a brokerage which offers a polished product. Unlike several other companies, Titan Trade presents us with a professional looking website, without missing or broken links and enough information about all aspects of trading and banking. Assuming you never heard about Binary Options, TitanTrade is a good place to start in regards of functionality and available information.
Why does Titan Trade Suck in 50 Words?
Unfortunately the minimum deposit at Titan Trade is between $250-$500 (depends on region and your negotiating skills) which is above the average of the industry. The high first deposit amount is not a deal-breaker, but makes me believe this brokerage is more suited for experienced traders who know what they are doing and are willing to invest a fair amount. The Broker is also no regulated, and doesn’t seem to have such intentions.
Titan Trade Full Review – The Next Best Thing (for the Rich Folks)?
The always popular SpotOption platform is the “weapon of choice” for Titan Trade; of course, there’s no need to download or install any software as everything is 100% web based and on top of that, SpotOption is a platform known for its ease of use, intuitive interface and almost flawless functionality. Choosing the most well known platform in the industry allows a lot of traders to start trading right away, without having to learn all the features of a new platform and also creates a trading environment with [hopefully] no software problems.
The website is well organized and has the right amount of marketing material, without being too intrusive or annoying. All the information is easy to access and during my time spent on titantrade.com I didn’t have any big issues when trying to find answers to my questions. It is true that similar material is found on other websites as well, but after all, trading is an exact “science” (the basics at least) and it’s normal to see similarities between different people trying to explain the same thing. Overall I think they did a good job in the educational department (compared with others), offering a lot of videos, tutorials and even quizzes on the most important aspects of trading. There’s also an e-book which can be downloaded for free from their “Academy” section; you won’t find any ground-breaking stuff in there, but the general idea of Binary Options trading is explained well enough. Unfortunately, their “Trading Strategies” section needs a lot of improvement and creates some confusion; I can only hope their Account Managers don’t use the strategies depicted there to trade your money or to give you trading tips.
Titan Trade offers 5 types of accounts, with minimum investment ranging from $250 to $10,000+ (for the VIP account). Of course, there are added benefits for a larger deposit but some of them are not really justified. For example, the Platinum Account ($5,000 – $10,000) comes with “additional education on RSI and Moving Average”. Well, this information is available for free on our website and I don’t believe anyone should use it to convince traders to deposit thousands of bucks. But don’t let my bickering put you off. Although there are some things that can be improved, Titan Trade seems to be a professional and reliable broker, but only time will tell if they can become a titan of this industry.
Is Titan Trade a Scam?
This broker has been in business for quite sometimes now, not to mention it is also featured on the BOTS list for over a couple months now. We know for sure they are normal transparent, making their owning company and physical address easily available on their website: Titan Capital Limited, Trident Chambers, Victoria Mahe Seychelles. To me, one of the first signs of a scam is the lack of an address and name but so far, Titan Trade doesn’t fall into that category. TitanTrade are not regulated, however just because the broker is not regulated, it doesn’t mean it’s a scam! Other worrying facts like the growing number of complaints do affect our overall scoring. We always need to be more cautions when dealing with a non regulated broker. Make periodically withdrawals, check your balance and expired trades, contact your support every once in a while, and most importantly – keep us updated! Still Available for US based traders.
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Titan Trade Complaints
As always, our team is doing the job for you. We search the web for any complaints, comments, feedback from clients, summarize them and try to bring the truth behind them. When it comes to TitanTrade, we couldn’t locate much complaints surfaced regarding Titan Trade’s services. We have some complaints right here on BOTS, most of those complaints are accusing support for being unreachable. We are worried about the growing number of complaints, and that definitely affects TitanTrade Overall score. Our team will keep monitoring and will update this review if any major complaints emerge.
Titan Trade Bonus
The Bonus percentage depends on the type of account you open and can go as high as 75% of the initial deposit for the VIP account. In order to withdraw the Bonus, the client “must first complete a turnover of deposit amount x30” according to their terms and conditions.
Titan Trade Withdrawal
Before making any withdrawals, the client has to provide Titan Trade with the required identification documents. Once this one-time process is completed, withdrawals can be made via credit/debit cards and wire transfer. Once a withdrawal request is processed, it takes about 5 working days until the money reaches your account. Minimum withdrawal amount for credit card is 100 “in your currency”. To be honest I don’t really understand this way of explaining things and I am not sure if my currency means my country’s currency or my account currency. Also, they state on the website that “There is no fee for a credit/debit card withdrawal.” But in their Terms and Conditions they clearly say “The Company charges a fee for transfers of funds standing to the credit of a Trading Account from the Company to the Client, currently equivalent to USD 30 per transfer.” This is a typical broker behavior.
Titan Trade Extras
As an extra feature I can mention Pairs trading which becomes more and more popular these days. Although the pairs offered are not many, this type of trading brings a new dimension to binary options.
- Lots of Option Types!
- US availability
User Friendly 17/20
The platform used is one of the best available, being both intuitive and efficient. The website is well structured and polished but unfortunately it is available only in English and Russian and this makes it totally unfriendly for a client who doesn’t understand the language. Spot 2.0 is a great platform.
Number of assets and expiry times 18/20
Their trading basket includes 20 currency pairs, 8 commodities, 11 indices, 28 stocks and 4 Pairs. Note that not all assets are available for One Touch Trading, 60 seconds trading or Long Term trades. Expiry times range from 60 seconds to 15 minutes to end of trading day and Long Term options can be even set for the end of the year.
Commissions, Support and Effective return 17/20
There are no fees related to account opening but a 30 USD fee will be charged for transfers of money from the company to the client. Unfortunately, when I tried to contact live chat support, all I got was an option to send them an e-mail, but their effective return can go as high as 100%, which is very very good compared to the industry average.
Deposit, Payment and Bonus 16/20
The minimum deposit is 250-500 which we consider to be medium high for the industry. Credit/debit cards and wire transfers can be used to deposit funds with Titan Trade and the same method will be used for withdrawals (minimum withdrawal is 100 or the entire account balance if it is less than 100) which can take up to 5 working days before being available in your account. The bonus is 20% for the first account available and 75% for the VIP account; the turnover needed to withdraw the bonus is deposit x30.
Website Extras 16/20
Pair trading is an innovative new way to trade binary options and we consider it a positive extra feature. There are quite many interesting option types! Very long list of available trading methods and copy trading (spot 2.0). Good School Academy, Builder, Touch Options. US availability is always an extra.
Titan Trade Overall Ratings = 84/100
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