Editor’s Note – Why does TradeRush Suck in 50 Words
As we promised our readers, we’ve been tracking TradeRush progress and the results are positive – TradeRush is making progress but is still not a broker we have a lot of faith in. We have come up with one nagging problem the site just can’t seem to shake; repeated complaints of screen freezing and other glitches that affect trade outcomes.
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Why doesn’t TradeRush Suck in 50 Words
TradeRush has great trading tools and even better trading options and since inception they have made great improvements. This is mainly because of their partnership with the SpotOption platform, but these advantages are only the minimum requirements to become a reputable broker.
TradeRush Review – Rushing Nowhere
TradeRush is a standard binary options broker based on the original SpotOption platform. The brokerage was launched in 2011 and is owned by Marblestone Partners Ltd., a company located at 1A Arcade House, Temple Fortune, London, UK, NW11 7TL, Company No. 09205858. They are not regulated and this is a big minus. TradeRush was listed in many review sites as a refreshingly innovate binary options broker and the ongoing updating of this broker’s site is an example for many other new binary options brokers. TradeRush platform is based on SpotOption 100% web based platform so there is no need for any software to be downloaded.
TradeRush offers its customers fair In-the-Money returns but the main advantage of the platform lies in the extra features. The platform supports a wide array of expiry ranging from 60 seconds to 6 months, but there are many others- One Touch options for weekend trading, Option Builder which allows you to pick risk/reward ratios and Pro trader for advanced traders and interactive charts. The asset list is fairly extensive, like most other SpotOption labels. There are over 150 indexes, commodities, forex pairs and stocks. These are matched by several types of options including the standard high/low binary, One Touch and 60 Second speed trading. However, it seems like the returns do not match the other features in their quality. The maximum profits are around 75%, average to low compared to the biggest and most respected brokers.
Overall the brokerage has a mediocre feel about it, without something special that could attract people to deposit. The features they offer can be found with other brokers and the fact that TradeRush is still not regulated in August 2015 makes me say that you are probably better off joining another company, possibly one of our Recommended Brokers.
Is TradeRush a Scam?
TradeRush does not feel like a scam but we here at BOTS have found enough wrong to not recommend them. The withdrawal procedure has been a nagging problem with this broker for some time and is a leading cause of complaints. Adding to this the fact that it is not regulated lowers its standing. However, the number one thing we find wrong with the platform is a common problem reported by its users; the platform freezes, pauses, locks up and other glitch type issues that impede trading and lead to losses. Company is not yet regulated and this raises more questions, considering that they have been around since 2011 so they had plenty of time to seek regulation. Update August 2015: Through the passing of time they did not improve much, however we feel like TradeRush is not a scam, just an out-of-date broker.
In Binaryoptionsthatsuck.com we do the research! While searching the web for any information regarding TradeRush we came across many complaints, mostly the usual “they didn’t give my money back” ones which every broker gets. Some of the other complaints were people who were offered a demo as they deposit but then, instead of any demo, they received tons of trading guides and were told to read them in order to learn. Many of them claimed to have lost their money in the end. The complaint that most troubles me, and one that I say several times, is that the platform freezes in mid trade causing you to lose out or miss profitable opportunities.
TradeRush offer bonus factors of up to 100%, quite a lot and maybe even unnecessary, I will let the traders decide. Other than that, the bonus factor is fair. Depending on which bonus you take there will be a minimum trade volume of 20, 30 or 40 times bonus + deposit. a lot.
Some sites only talk about deposit, On binaryoptionsthatsuck.com we are not worried about that because we know deposit is easy. Here the most important part we care about, which could also be seen as the most important thing in binary options – is withdrawing your profits. Withdrawals can be made to CC, bank wire or MoneyBookers. The minimum withdrawal is only $30. Most withdrawals are free, but there is only one free wire transfer each month, after that each costs $30. Typical withdrawal will take up to 7 business days, or nearly two weeks.
There is not much to set TradeRush apart from other brokers. It is just a standard SpotOption white label and like the other 200 or so of them out there. In you are looking for extra features, special additions, unique offerings or service above the norm this is not the place to find it.
User Friendly 18/20
TradeRush platform is a 100% web based SpotOption platform, with no need for any software to be downloaded. TradeRush website is pretty modern, navigating is easy, trading experience is good except for random screen pauses and most information is quickly available. The trading area has only problem- in order to view information about a specific asset, a trader should go to the asset index and then click on the asset for information. Available in 6 languages including English.
No. of Assets and Expiry time 19/20
There are over 125 assets to trade including stocks, indices, commodities, forex and pairs. TradeRush overall amount of assets is fair, average compared to most other brokers. TradeRush expiry times are fairly wide during the day, starting from 60 seconds until the end of the day for most assets and out to tomorrow, end of the week, next week, end of the month and on out for up to 6 months on some heavily traded assets.
Commissions, Support and Effective return 14/20
TradeRush doesn’t charge any fees or commissions from investors when they first deposit or purchase options. Withdrawals are charged $30 after more than one transaction per month, or if the withdrawal is via wire transfer. TradeRush support is available via only 2 international numbers- USA or UK, or via email. The live chat service is just OK and available quickly during most hours of the day (less on traffic hours). The effective return is among the average-low in the industry- 65-75% In-The-Money with a 70% average return for most assets. The Out-of-Money refund is average, between 0-10%.
Deposit, Payment and Bonus 16/20
TradeRush Minimum deposit is average – 200$ or 200€. Deposit is available via C.C., Wire transfer, Cash-U and more. Withdrawals are generally available via the same methods with certain charging fees. Traderush usually offer a bonus of up to 30% to new customers. Just recently TradeRush decided to increase the Bonus percentage with a great 100% bonus for bigger investments (500$+). Most withdrawals, after clearing bonus requirements, will take about 2 weeks to process and clear into your account.
Website Extra’s 13/20
Traderush would have some unique features, if it wasn’t one of hundreds of other SpotOption white labels. Overall, there’s nothing unique to this broker, but the spotoption’s technology covers for it.
TradeRush Overall Rating: 80/100
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