TradeQuicker which launched in June 2010 is also 100% web based. This ensures a smoother buying experience as no software updates are needed and purchasing can be made from any computer.
As with TraderXP, it is based on the technology of SpotOptions, and just in the same way, much of its content is not original but copied from other sites: many questions in the FAQ section are copied from competitor sites; the Daily Market Review, Weekly Market Review and Hot Tips from the Analysts are copied from Bloomberg articles and taken from other websites which have not been referenced to or accredited to in the text.
Despite this the site has some interesting features. It is displayed in English and Russian which makes it more universally attractive. It offers binary options on 46 underlying assets covering the USA, European, Asian and Middle Eastern markets, making it an extremely diverse offering. They have graph on the homepage showing a trader’s open trades and monitors those traded assets’ levels.
At 75%, the top end of their payouts is high and in line with the top end of the market. However the lowest payout is not specified. According to our research, the lowest payout is 66%. However investors receive a consistent and generous 10% for options expiring out of the money.
They use the internationally accepted security system SSL (Secure Sockets Layer) that encrypts all credit card payments over the web.
However, the issue of copyright on the site makes a huge statement about the site’s credibility.
The ownership of the company is unknown except for information on the site, exactly the same as TraderXP, stating that “TradeQuicker is a global privately held company headquartered in The British Virgin Islands with offices spread around the world. The company is managed by veteran professionals of the global financial industry, with vast experience in financial trading, risk management, technology and trading regulations.” It seems however that they are also not clued up about copyright regulations.
10% refund on out-of-the-money options
Real time viewing of a trade’s progression
One Touch weekend options
Website in 2 languages
46 underlying assets available
Established: June 2010
Country: British Virgin Isles
Tel: 00 212 796 4935
TradeQuicker rating – 70 stars out of 100
Usability – 7 stars
The TradeQuicker site is well presented and user-friendly. Its FAQ section is clear, (however see Website Review for more information), thorough and is neatly laid out with useful tabs.
The My Account section is comprehensive and enables investors to see all past and current trades as well as neatly presenting information about how to deposit and withdraw funds and the status of these actions.
No software download is needed, as the TradeQuicker platform is 100% web-based. This ensures a smoother buying experience as no software updates are needed and purchasing can be made from any computer.
TradeQuicker has a useful detailed breakdown of each asset, what it is and when it is traded.
A downside to the site is that the maximum investment amount per option is $1,000 which limits the potential returns.
Overall, using the site is a pleasant experience.
No. of assets – 7 stars
TradeQuicker offers options on the following assets: 19 indices, 13 stocks, 10 currencies and 4 commodities, totaling 46 assets for purchase. These assets concentrate on the USA, European, Asian and Middle Eastern markets, making it internationally attractive and competitive.
Expiry range of options – 5 stars
The expiry range is very short, with the end of the day being the furthest in time an investor can purchase an option.
Effective return – 8 stars
The effective return is the total percentage of return offered on an option. On the TradeQuicker website this is 85%. This is split between 75% for in the money options and 10% on out of the money options. A downside to the site is that it does not state the lowest return offered, meaning the lower end of the effective return is not known. From our research, the lowest return rate we saw on the site was 66%, making the effective return range 76%-85%.
Languages – 7 stars
A full version of the TradeQuicker website is available in English and Russian.
Website extras – 6 stars
TradeQuicker investors are provided with a useful tool called Today’s Open Positions. This is a profit graph allowing a trader to see their current trades in real time and hence follow their performance.
Inside the trading boxes there is also 1 hour line chart showing the historical progression of each asset and a Traders Choice Bar showing the percentage split of calls v puts that each asset has had.
There is also an informative and thorough demo video explaining exactly how to open and account and carry out a trade.
Another useful feature is the product, One Touch, which enables buyers to purchase options over the weekend when the markets are closed. Buyers receive a payout once the price of an underlying asset reaches a predetermined barrier. The payout is between 150-500% for selected assets. It’s a novel method of weekend trading, aimed at the more experienced trader.
The News by CNBC Finance feed is also displayed, enabling users to keep up to date with the market news.
Fees/commissions – 8 stars
TradeQuicker does not take any fee or commission from its buyers when they purchase options. They are free to place, for free, as many options as they wish. The fee for withdrawing money is $25 for wire transfer, $10 for a cheque plus postage and at no charge to withdraw by credit card
Loyalty offers – 6 stars
They offer up to a 50 welcome bonus and the first trade is on them.
Payment methods – 8 stars
Deposits can be made by credit card, wire transfer, Western Union and PayPal. Accounts can be held in US dollars or Euro.
Support quality – 8 stars
The TradeQuicker Customer Service team is available by phone on 5 international numbers (covering 3 countries: US, Canada and Russia), by live chat and by email. They also offer a call back option. The opening times for customer services are unspecified.