Tropical Trade Review
We recently received a request to review a new binary options broker called Tropical Trade. Owned and operated by FLY Ltd in St Vincent and the Grenadines, Tropical Trade offers investors the ability to trade binary options with a large amount of available assets.
I will tell you what I can find on Tropical Trade including their brief history. I will examine this broker’s terms and conditions. I will also tell you if they offer a demo account and mobile trading. Finally, I will offer my opinion on whether Tropical Trade is a scam or not.Visit Website
- Accepts United States traders
- Not licensed or regulated
Deposit & Withdrawal Methods
- Company:FLY Ltd
- Incorporated:St Vincent
- Minimum Deposit:$200
- Minimum Withdrawal:
- Minimum Trade:$5
- Demo Credits:
- High/Low, Pairs, One Touch, Ladder, Forex
- 30 sec, 60 sec, 90 sec, 2 min, 5 min, 15 min, 30 min, 45 min, 1 hour, End Of Day
- iPhone, iPad, Android
About Tropical Trade
Using a proprietary trading platform, Tropical Trade allows investors to trade in binary options without downloading any software. The Tropical Trade system has over 150 assets available for investors to choose from, and a variety of expiry times with payouts as high as 85%.
Being a new broker on the block, we will watch as Tropical Trade adds more features, and hopefully, they can attain licensing and regulation in the near future.
Tropical Trade History
As I stated earlier, Tropical Trade is a new binary options broker that seems to be popular. This may be the fact that they accept United States traders for the time being.
In 2015, FLY Ltd in St Vincent and the Grenadines started operations of Tropical Trade. All payment services are managed by Cumberland Capital Ltd located in Liverpool, United Kingdom.
Tropical Trade Terms and Conditions
You should always study the terms and conditions of a binary options broker before you decide to create an account. I examined Tropical Trade’s terms and this is a part of what I found:
- You must be 18 or older to use Tropical Trade services
- Tropical Trade has the right to refuse service for nearly any reason
- Upon depositing, Tropical Trade requires certain documents which include A copy of your valid passport with the signature page, Copies of your credit cards, used to make the deposit (Front side with only the 4 last digits visible, back side with the CVV covered), A copy of a recent utility bill in your name and address and a signed purchase history of your online transactions.
- Tropical Trade does not guarantee the accuracy of signals on the site as they come from third parties.
These are just a slight part of the terms and conditions. Be wise and read them completely before signing up.
Tropical Trade Withdrawal and Bonus Terms
As long as you supplied the proper documents, credit card withdrawals are free, and bank wires are $25. Tropical Trade will process withdrawal requests within 5 business days.
When it comes to bonuses, Tropical Trade offers some nice ones, but you need to understand the consequences in accepting any bonuses from Tropical Trade. Before you can withdraw any bonus money, you must trade a volume equal or above 30 times the bonus amount. If you get a $100 bonus, you will have to trade a volume of $3,000 before you can withdraw. Would that bonus be worth it?
Tropical Trade Demo Account
Tropical Trade does not offer any type of demo account for traders. They do however offer a great source of binary options trading education with Tropical trade Academy.
Tropical Trade Mobile
Tropical Trade does have applications for those traders using mobile devices. For Apple based devices, the application can be received from the Apple App Store and for all others, the Google Playstore.
Tropical Trade Scam Watch
I do not see any signs that tell me that Tropical Trade is a scam. I will say that personally I will not deposit money in their system. They are just too new and unproven, and they are not licensed or regulated.
FLY Ltd has developed a very professional looking binary options brokerage. Hopefully, they can attain licensing in the near future.
If you have used Tropical Trade, we would like to hear how it worked for you…especially withdrawals. You can post your results in the comment area at the end of this review.