Is TradeThunder a Scam?
Check This 100% Detailed Review of TradeThunder.
Binary Options Broker Established in 2015.
Complaints, Withdrawals & Promotions – Read Below!Read Full Review
|Official Website URL||www.tradethunder.com|
|Address||20-22 Wenlock Road, London, England N1 7GU|
|Support Number||+44 2031501861|
|Support Types||Live Chat, Phone, Contact Form, E-mail|
|Minimum 1st Deposit||$50|
|Minimum Trade Amount||$1|
|Free Demo Account||Open Demo|
|Account Types||Standard, Premium, Pro, VIP|
|Deposit & Withdrawal Methods||Visa, MasterCard, Bank Wire|
|Number of Assets||80+|
|Account Currency||USD, EUR|
Trade Thunder is a new binary options broker owned by LGK Industries LTD, located at 20-22 Wenlock Road, London, the United Kingdom.
Their customer support can be reached 24 hours 5 days a week.
Trade Thunder Features
The required minimum deposit you have to make in order to be able to trade is $300 which is higher than the usual for the industry. This will get a Standard Account type. On the other hand, the minimum trade size is just $1 which is not offered by many brokers.
Trade Thunder offers payouts of up to 90%, which is one of the highest in the industry. But this might be due to the fact that the winning rate you can achieve while trading through this broker is not so high. The high payouts are used as an incentive to keep traders on the platform.
Trade Thunder uses the Leverate BX8 trading platform. Leverate is a well known technology provider in the Forex industry with over 8 years of experience and involvement in countless projects. The trading platform is also very user-friendly and intuitive to use. But the broker does not offer a diverse portfolio of assets that you can trade with.
Trade Thunder Education Section
Even though Trade Thunder provides a wide variety of educational materials for both beginner and advanced traders, the accessibility is limited. You might need to upgrade your account type to get access to some of the more “advanced” materials of Trade Thunder.
Experts’ Opinion: Providing traders with a wide training center, available to anyone, despite their trading account type, is very important. This means that the broker does not intend on exploiting the inexperience of beginners.
One such broker, we think is a great alternative, is TropicalTrade. Follow the Link for a detailed review and a trading demonstration by our team.
Trade Thunder Deposits and Withdrawals
TradeThunder offers Credit/Debit cards and Bank wire as deposit and withdrawal methods. The withdrawal process is simple and but clients have reported delays in the processing of request. In order to withdraw funds from your account you have to send a copy of your ID and an address proof document, which is required because of the broker’s anti-money laundering policy.
The base currency of the accounts is USD and this is not subject to changes. When you transfer money in any other currency, it will be converted in accordance with the current exchange rate. But this might lead to differences in the converted amount and the actual deposit. Even though there are no clear signs of such malpractice, it is a possibility. We cannot guarantee the quality of the trading experience you might get out of using Trade Thunder for your broker.
Is Trade Thunder Legit?
TradeThunder is a broker that is owned by LGK Industries LTD, with an address located at 20-22 Wenlock Road, London, UK. We would not say that the broker is a scam but it does not hold a license. Regulation is important for funds’ safety and trading security. Our team supports the opinion that much better brokers that are actually licensed and regulated could be chosen instead of Trade Thunder.
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24Option (read review) operates on an advanced trading platform. If you open a new account with them you get 3 Risk Free Trades, see here. Minimum deposit is $250 which makes them quite popular, read more.
Trade Thunder Bonus
TradeThunder offers several bonuses to their clients. They offer welcome bonuses depending on the deposit of the client and his or her account type. But bonus schemes could be tricky. You have to make yourself very well acquainted with their terms and conditions, and bonus policy, before accepting one. We do not say that Trade Thunder will trick you, but a lot of scam brokers do it, misusing the fine print. That is why a bonus incentive should not be taken lightly.
TradeThunder is a suspicious broker which according to our research is not regulated by any authority. The extremely low amount of minimum deposit (only $20) makes us think that this is a trick to attract clients. Considering the fact that most of the brokers has minimum deposit of $200-250, this really looks like a scam to us.
We cannot say for sure if TradeThunder is reliable or scam but we advise you to proceed with caution and be careful if you decide to open an account with this broker.