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ZoomTrader Review

Platform

ZoomTrader is using the Tradologic web-based platform. This is better than the old version but still lacks some new trading features. For this reason, they get a low platform score of 4/10

Minimum Deposit

Opening a standard account requires a minimum deposit of $250, a common requirement that is set by majority of brokers today. And the higher the deposits you make, the more trading perks you get to avail. Based on our grading system, they notched a minimum deposit score of 3/5.

Minimum Trade Size

They only require a $10 minimum investment amount for each trade. This is certainly lower than the requirements that were set by majority of the brokers today and the advantage here is that it is easy to implement money management techniques. This merits a minimum trade size score of 5/5.

Number Of Tradable Assets

Over 80 assets are offered by this broker for trading and this is comprised of indices, commodities, currencies, and stocks. Most of the assets that they offer are traded with the highest volumes and this means that the profitability rate is good. This warrants a number of tradable assets score of 4/5.

Accept US Traders

Because they are regulated by the CySEC, they are barred from accepting clients from the USA. Same policy applies to all of their licensed brokers. For this reason, they get an accept US traders score of 0/5.

Regular Binary Payouts

The maximum payout rate for the regular options is 83% which is a tad higher than average. This guarantees that the investment returns are much better. This payout rate matches a regular binary payouts rating of 7/10.

Special Binary Payouts

The other option types have the potential to offer returns of up to 160% so the profits are much bigger. And for that they deserve to be given a special binary payouts score of 1/2.

Average Withdrawal Time

There’s no issue on cashing out because the processing time usually takes up to 5 business days only. No delays and no discrepancies with the returned amount. It’s fast and for this reason, they earn an average withdrawal time rating of 4/5.

First Deposit Bonus

There’s a 100% welcome bonus waiting for you when you register for an account and the first deposit has been made so make sure to take advantage of it. Such generosity is equivalent to a first deposit bonus grade of 5/5.

Reputation Among Traders

This broker has already gotten a lot of complaints regarding delayed processing of withdrawal requests and this is a serious issue for many traders. Taking this into consideration, they scored a reputation rating of 9/20.  

Quote Accuracy

The accuracy of the quotes from the platform is terrible and there's a big different with the live market feeds. This gets a quote accuracy score of 1/5.

Regulated

ZoomTrader is owned and operated by Novox Capital Limited which is under regulation by the Cyprus Securities and Exchange Commission (CySEC). Its license number is 224/14. And since they were able to get an approval, they definitely earn a regulation score of 8/8.

60 Second Trading

The fast option types can be found under the Turbo Option. You can choose from 30 seconds to 5 minutes. The warrants a 60 second trading rating of 5/5.

Expiry Rate Flexibility

Expiry rates are aplenty with ZoomTrader. You can set your trades to expire for as short as 30 seconds or as long as several months! With so many options to choose from, they definitely get a perfect expiry rate flexibility score of 5/5.

Support

The support department seems to be not well-trained handing customer queries and issues because their answers are mostly inconsistent. For this very reason, they deserve a support score of 3/10.

Conclusion

ZoomTrader disappointingly delivers low quality services and mediocre features that cannot match what most brokers today can offer. They don't have what it takes to be one of the top choices of traders who are looking for a reliable binary options brand. This broker received a total score of 61/100.

We highly suggest that you visit our fights section to find a reliable broker that is ideal for you trading needs.