Since the inception of binary options trading several years ago, the options market has never been one that stands still. Instead, new and innovative methods of trading binary options are always being explored and delivered to traders by various brokers. ZoomTrader is a brokerage service that specializes in variations of traditional binary options. This gives traders of all experience levels the chance to make profits in a variety of ways with binary options. This review will evaluate the platform, asset range, and customer service of ZoomTrader to help traders make an informed decision about whether or not this brokerage service is right for them.
ZoomTrader divides its platform into separate trading platforms for each of the types of binary options it offers. The traditional binary options platform, known on ZoomTrader simply as digital, is the basic foundation of the other platforms. Through ZoomTrader, even traditional binary options come with the ability for investors to gain more control over their trades. A variable risk tool allows traders to set the risk level that a trade is executed at. Needless to say, the higher the risk level, the higher the potential profit. Trades executed at low risk levels will pay off less if they finish in the money, but will also cost a trader less of his or her capital investment if they finish out of the money.
In addition to these traditional options, ZoomTrader offers touch, one touch, range, and turbo binary options. Touch trades require a choice about whether or not the price of an asset will reach a certain point. One touch trades only require that the price of that asset touch the determined price point once prior to the expiry time. Range trades, one of the newest varieties of binary options, allow traders to select a price range. In order for the trader to make a profit, the price of the asset only needs to fall within that range at the time of expiry. Turbo options work exactly like traditional binary options, but with very short expiry times. Turbo option times on ZoomTrader are 1,2 and 5 minutes. Using these turbo options, traders can increase their profits by executing a much higher volume of trades in a given time frame than traditional options allow.
ZoomTrader’s platform is just a bit weak on underlying assets, representing only the usual major stocks, commodities, currency pairs and indices that are to be found on all binary brokerage sites. However, the innovative trading tools made available to traders on the platform more than make up for a somewhat short asset index. In addition to the web platform, a full mobile version of the platform is available for those who like to trade on the go.
ZoomTrader offers customer service by phone in 13 different countries, as well as a web based live chat system. ZoomTrader’s customer service staff is made up of trained professionals who are easily able to assist traders with most common questions and concerns. A full education center is also available to traders. This library of resources offers video courses, trading tutorials, analytical lessons, and even a full ebook to introduce new investors to the ins and outs of binary options trading.
Deposits and Withdrawals
Deposit and withdrawal transactions on ZoomTrader can be executed via credit card or bank transfer. In some cases, electronic payment methods can be accepted. Traders who wish to use these methods must contact an account manager in order to set up the payment system. A minimum deposit of £250 is required, but no minimum is applied to withdrawals.
ZoomTrader offers a very generous initial deposit bonus. When the initial deposit is made, the amount will be matched by ZoomTrader and credited to the trading account. Traders who work their way up to trading with larger accounts may become bronze, silver, gold, or platinum traders, with each level coming with various incentives. These include special analytical tools, market reviews, trading advice, and faster withdrawals. In addition, traders will soon be able to win cash prizes by competing with others in ZoomTrader’s trading tournaments. This program has yet to be officially rolled out, but will be in the near future.
- Mini – deposits between $200 – $499 – which will give you a 20% bonus
- Bronze – deposits between $500 – $999 – will give you a 50% bonus, as well access to their library of video courses
- Silver – deposits between $1000 – $2499 – gives 75 % bonus, as well access to the video courses library, easy to read pro charts and their signals system, a one trading strategy ebook, one risk-free trade on the platform, as well one daily market review
- Gold – deposits between $2500 – $5000 – and get a 100% bonus on your first deposit, as well their introduction video courses, their pro charts and market signals, three trading strategies per day, two risk-free trades, 2 daily market reviews every day, super fast withdrawals
- Platinum – deposits above $5000 and you will get all advantages you need as a trader – 100% bonus on your first deposit, access to all introduction video courses, special pro charts and market signals, special five trading strategies, three risk-free trades, unique two daily market reviews, super fast withdrawals, and a dedicated account manager.
All told, ZoomTrader is an excellent platform for traders looking for an innovative edge. Beginning traders may find its many alternative trading methods a little daunting, but the platform is very easy to learn and to use. A generous bonus program and good customer service give an excellent incentive to open a new account and begin trading. The many different types of binary options available on ZoomTrader can help traders who use this brokerage site to profit even more than they would on traditional binary options by trying out many different trading styles. Once a trader has found the style that works best for him or her, profits are likely to increase with experience.