Full Review of Tradorax Binary Options Educational Material
We already know that Tradorax is an OK broker. In this review we’ve evaluated the Tradorax education material to see how it stands up to other top brokers. If you don’t know, Tradorax is a Techfinancials based broker that accepts US traders. This platform allows for many different expiry solutions and a huge asset list as well as both Forex and binary trading. There are several sections in their educational center including a video library, economic calendar, courses and other tools. Let’s see what they include and if they are worth your time!
Tradorax Educational Center – Free Education
This educational center can easily be accessed from the menu on the home page, it takes you directly to the training courses. These short videos explain the basics of trading like psychology, technical analysis and money management. You don’t need to register to gain access to them which is a big plus – even the advanced videos are free. In fact, all the videos are available on their YouTube channel. I like the idea that the course first starts by teaching you why education is good.
The Tradorax Guide comes up next in the list, it is a 20 page long pdf document loaded with information and illustrations. Here you can learn how the platform works, asset types, expiries, banking and other important things like terms and conditions you need to know before trading. It doesn’t require a sign up so I suggest you read this document.
The glossary section contains some of the widely used terms, especially the ones you will encounter inside the trading platform. For example; what is ROI, ATM or early closure? Tradorax offers a useful economic calendar too. You can set your own custom settings based on impact and assets you are interested in. You can also set your own local time in the calendar. Right above this calendar, there is a constant stream of live news from Bloomberg so you can get fresh announcements while planning for a trade.
Although the company section isn’t really about trading, it provides important information regarding the broker. Serious brokers always offer this type of information about themselves and I believe you should take a look at it so that you know who you are trading with! The FAQ’s try to fill in any gaps left by the other sections. This section is not that big but FAQ’s are usually small and brief. They’re OK but if you’ve read through the pdf and watched the videos, I don’t think you would even need the FAQ anyway. After registration you can get an hour of free 1-on-1 training with your account manager to make sure you understand what you are doing. Depending on your account size you can have additional lessons if you want.
Conclusion – Tradorax Educational Center – does it Suck or not?
I think the educational center contains decent information enough to teach you what you are getting yourself into but not really enough to become a top trader. Something I’m glad to see is that I never found any material on the site that required a registration or deposit. Well, except for the 1-on-1 training but then again, how do you practice without an account? I think it’s a good deal to get 1-on-1 training as a newbie after signing up because it’s important to verify everything you have learned. What I would like to see in the future is perhaps a section explaining strategies and indicators. All in all it is a good educational section, teaches you all you need to know about the broker and platform, and just enough to get started trading.