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TropicalTrade Broker Review

  1. This broker is closed.

    TropicalTrade is one of the newest players on binary options market. This broker is truly a global binary broker, present also for traders in South Africa. Online since 2015, TropicalTrade is operated by the Cumberland Capital.

    Since our ultimate goal is to offer our South African readers with the best reliable binary options brokers on the market, we decided to review TropicalTrade and present their platform and trading features.

    To find out more about this broker and its platform, read further our TropicalTrade broker review. By having more information about how to deposit and what features and trading tools can be used in the trading process, traders will able to evaluate if TropicalTrade is a right choice for them.

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    TropicalTrade Trading Platform

    What we discovered in our TropicalTrade broker review is that they use PandaTS software, with which it is possible to have a clear and simple overview of trading platform. This contributes to better experience for interested South African traders, regardless if they are beginners or pro traders.

    To start trading journey with TropicalTrade broker, minimum deposit is $200, which is lower amount than average in binary trading. With lowest investment of $5 and maximum od $20000, traders don’t have to deposit huge amounts from the beginning unless they want it. Returns can go up to 85%.

    Also, this broker offers bonus as an incentive to attract more traders to join this platform. However, traders should know how required bonus turnover is 30x bonus. According to our TropicalTrade broker review, it is possible to trade with following currencies: USD, EUR, GBP, CAD and AUD.

    Tip: Consider IQ Option instead – the best regulated broker for South African traders with a minimum deposit of only $10!

    TropicalTrade Trading Features

    Our TropicalTrade broker review revealed how available trade options are: Range, High/Low, 60 Seconds and Hyper (options with expiry from 30s forward). Combined with these options, South African traders are able to choose between different expiry times, such as 30 s, 60 s, 2 min, 5 min, 15 min and end of day/month.

    Traders are able to select preferred asset among many on disposal on this trading platform. These assets cover all major currencies, stocks, commodities and indices. A full asset list can be found under Asset Index on their trading platform. Unfortunately, we haven’t noticed option to train trading on demo account. Demo is considered as a valuable tool for inexperienced traders and TropicalTrade so far did not implement this feature.

    tropical-mobileHowever, our TropicalTrade broker review showed that mobile application is not available at the moment. We hope they will install it soon since mobile app enables a whole new experience when trading binary options. 

    Under Education, traders in South Africa can find an exquisite set of edu help for both traders beginners and pro traders as well. Education materials, such as FAQ, ebook, glossary and video library is included in this Education with TropicalTrade broker.

    This comes as an important segment of binary trading process since traders do want to know more about how to trade and what to use, even before actual deposit is made. It implies them with greater confidence and shows how this broker is serious when offering binary options trading platform to potential traders.

    TropicalTrade Account Types

    In this TropicalTrade broker review, we learnt how South African traders are able to choose between 5 trading accounts, each with its own characteristics and options. More details about each account type, read below in TropicalTrade broker review.

    TropicalTrade Basic account

    • Deposit $200
    • Junior manager on disposal
    • Edu Center package level 1
    • Welcome bonus 20%

    TropicalTrade Pro account

    • Deposit $2500
    • Senior manager on disposal
    • Edu Center package level 1 + 2
    • Welcome bonus 35%
    • 1-on-1 private trading sessions for 1 hr
    • Trading signals

    TropicalTrade Gold account

    • Deposit $6500
    • Executive broker on disposal
    • Edu Center package level 1-3
    • 3 risk free trades
    • Welcome bonus 70%
    • 1-on-1 private trading sessions for 3 hr
    • Trading signals

    tropical-eduTropicalTrade VIP account

    • Deposit $50 000
    • Executive broker and analyst on disposal
    • Unlimited access to Edu Center
    • 5 risk free trades
    • Welcome bonus 50%
    • 1-on-1 private trading sessions for 7 hr
    • Personalized trading signals

    TropicalTrade Corporate account

    • Deposit $100 000
    • Corporate broker and analyst on disposal
    • Unlimited access to Edu Center
    • 10 risk free trades
    • Welcome bonus 30%
    • Unlimited 1-on-1 private trading sessions
    • Personalized trading signals

    TropicalTrade Customer Support Service

    Our TropicalTrade broker review reveals how they have one of the best and up to date support services we had opportunity to review. This comes as one of the main reasons why traders join particular platform and with TropicalTrade they can’t fail.

    South Africans are able to reach this broker via live chat, email on [email protected], web form and phone for few cities worldwide. Their customer support works 24/7, which is absolutely amazing to all interested traders.

    For web form, traders need to provide their name, email address, phone, country and message to ask this broker.

    Also, platform is available on English and Italian.

    TropicalTrade Banking Info

    All questions related to banking are especially sensitive since there is no trader who want to have bad experience with a broker, whether that is in relation with payments or trading process itself.

    Therefore, this broker pays attention and try to offer their traders with a safe trading environment. To achieve that, they use SSL encryption technology to protect traders’ data as well as Anti Money Laundering policy.

    To confirm their identity, traders need to submit following documents: copy of ID card, proof of address and copy of credit card which will be used when trading.

    According to our TropicalTrade broker review, South African traders are able to deposit in debit and credit cards (Maestro, Visa, Visa Electron, Diners Club, Mastercard and Delta) and bank wire.

    Also, lowest withdrawal is just $1 and there is no fee charged for withdrawals via credit cards, while for those via bank wire, there is $25 fee. Usually, withdrawal requests are processed within 5 business days. Selected currency at depositing has to remain the same as for withdrawals.

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