Details
| Broker | TitanTrade |
|---|---|
| Website URL | www.titantrade.com |
| Trading Platform | Proprietary |
| Minimum 1st Deposit | $250 |
| Minimum Trade Amount | $25 |
| Bonus | Up to 100% Bonus on your First Deposit |
| Payout | Up to 85% |
| Free Demo Account | |
| Number of Assets | Proprietary |
| US Traders Allowed | |
| Overall Score | 90 |
Full Review
TitanTrade.com is one of the best new brokers I have seen. It is owned and operated by Titan Capital LTD, located in the Seychelles and is based on a proprietary platform. The platform has incorporated many of the features I have seen individually in other binary brokers and make it at least one worth chekcing out. The trading platform is easy to use and has a nice look to it, definitely one I could use and recommend. Unlike some new brokers, this one also stands out because of the number of options types, assets and expiry available. Too many new brokers are limited in those areas and not suitable to serious trading.
The Platform
You can see in the picture that the trading platform is well laid out and easy to use. Assets are listed in the upper left drop down menu. Next to that is the expiry menue. Expiry are divided into three option types; binary, long term and 60 second. The Binary Options have intraday expiry for that day only, varying by asset. The Long Term expiry are for end of the day, end of the week, end of next week, next month and several month out into the future. The 60 Second options include the namesake 60 Second option as well as 30 second and 2 minute options for additional trading opportunities. I don’t put much stock in the 60 second style of binary trading but they, along with the other available expiry’s, make this one of the top platforms for binary option expiry in my opinion. Also available are One Touch options and Pairs trading on a select few stock pairs. Payouts range from a low 70% for 60 second trades to a high of 85% for binary and long term trading.
The asset list is also quite good for such a new brand. There are about a dozen forex pairs including all the heavily traded benchmark currencies. There are 8 commidities including platinum, sugar and coffee as well as gold, silver and oil. Stocks include several dozen international big hitters and then the list is rounded off with a couple of stock pairs. Stock pairs is something new I have seen in other brokers that is like trading currency, except the underlying assets are not dollars and euros, they are stocks. For example, on Titantrade you can buy options on the pair CitiGroup/AIG. If Citi strengthens versus AIG then the pair moves up, if it weakens the pair moves lower.
Deposits, Withdrawalls and Bonuses
Opening an account is super easy and they are accepting U.S. traders. Deposits can be made in the usual ways including credit cards, wire transfers and Skrill (where available). Accounts can be opened in USD, GBP and EUR with a minimum deposit of $500. This is a little higher than most but not a deal breaker in this case. Miniumum trades are very low, $25 for binary and long term trading but only $5 for 60 Second and short term trading. Of course, ID is required in order to make any withdrawals but once that is done it can take as little as 3 days to for transfers to process. Credit Card and Skrill withdrawals are almonst instantly available but wire transfers can take up to an additional 5 days to post in your accounts depending on which banks and intermediaries you are using. TitanTrade suggests getting all your paperwork in order withing 2 days of opening your account, a suggestion that I can stand behind. There are no fees for trading, credit card and Skrill withdrawal is free as well but wire transfers may incur a $30 or more charge at each bank it comes in contact with, usuall two but maybe more depending on where you are. Since the minimum withdrawal is $100 I do not suggest using wire transfers with that small of an account. It would be worth your time to use a credit card or open a Skrill account if it is available to you.
Bonuses are availabe but if you have read my reviews before I do not recommend them. Upon deposit you can receive up to 100% bonus depending on your account size. The minimum trading amount to clear the bonus is 30 times deposit and bonus, about average for the industry. The minimum deposit of $500 will get you a 20% bonus while a deposit over $10K will get you 75%.
Extra Features Make The Difference
There are some extra features to this platform that help it to stand out from the rest. First is the charting feature. I almost missed it, they don’t really advertise it, but if you look at the platform just above where the chart is you will see a series of numbers and letters that allow you to adjust the chart duration. The charts are still woefully inadequate for serious trading but are a real improvement over the charting available with most binary options brokers. Others include Rollover, Double Up and Buy Me Out options. These allow you to adjust positions while a trade is open in order to cut losses and, more importantly, to enhance profits. Rollover lets you extend your options expiratoin for a small additional investment. Double Up allows you to double your investment in a position once it is open. This is a two edged sword though as it could just as easily double you lossses as it could double your winnings. The Buy Me Out option may be the most useful for binary traders. It allows you to close out your positions before expiration. This means you can take profits or cut losses as needed.