OptionXP Binary Options Broker
Described broker is a member of Novox Capital Ltd and a subsidiary of OptionBit. Country of incorporation is Cyprus. The company itself is located in Ioanni Stylianou 6, Nicosia. OptionXP Company trading activities are regulated by the Cyprus Securities Exchange Commission (CYSEC).
Terms of trading
- Profitability - from 70% to 400%
- Loss recovery - No
- Minimal deposit - 200$
- Minimal stake - 10$
- Demo account – No
- Mobile version – Yes
- Education – Yes
Registration process is not complicated
To do this you will need to fill out a form on the right side of the website, tick points of the terms of the client agreement and click the "Start."
You are then prompted to fill in full deposit information (currency, amount) and select the method of transferring funds. The account creation and readiness for use confirmation message will be sent to the specified e-mail address.
The broker additionally requests a color scanned copy of the client’s passport confirming his identity as well as receipts for any service payments with his name specified. Additional precautions are observed in accordance with the requirements of international agreements in the fields of anti money laundering and anti terrorism efforts.
Binary option trading at OptionXP Company is carried out with the latest version of the Tradologic trading platform. Technical capabilities of the platform allow quick and efficient handling of large number of trades. Tradologic trading system provides the trader with the ability to apply automated trading systems (robots) to their trading. Also the program has the ability to trade with the help of an automated system of binary options trading signals (AlgoXP) integrated, that is to use algorithmic trading. AlgoXP is a special analytical tool that monitors the portfolio of markets to identify emerging trends.
The interface of the trading platform and the trading process control system are intuitive and comfortable enough. Together with the price chart using a special service trader can track the "mood" of the market - overall traders attitude to the current price of a particular financial instrument (a view of open Call / Put trading positions), that often helps to understand the situation on the market, to monitor trends and price reversals of base financial asset. There is a "Quick Search" system available in the platform, which makes it easy to find the necessary financial instrument. Implemented options expiration periods are 60, 120, 300 seconds (turbo mode), 15, 30 minutes, one hour or more. Trading platform also provides trader with a unique opportunity to manage his capital. In general, this very trading terminal is significantly different from those offered by other brokers in the financial market. It has a simple interface and intuitive access, and the presence of additional functionality in the platform allows the best way of implementing traders’ trading plans.
Great traded assets
The range of traded instruments is wide enough. You can select multiple groups of financial instruments:
Currency pairs - 14 items.
Stocks of the most famous companies in the world - 40 items. Large selection of stocks of companies operating in various sectors of the economy (Boeing, Sony, Amazon, Danone);
Commodity assets - 5 items (oil, gold, silver, coffee, copper);
Indices of global stock markets - 13 names (Nikkei, S&P 500, Nasdaq, Topix).
Bonuses and promotions
The company encourages its customers by accruing bonuses up to 150% of the deposit. You can get an especially nice bonus for your first deposit, if you deposit more than 6,000 rubles. However, the bonus money cannot be withdrawn, but can be used for trading. With successful trading in the future, these funds which were in fact presented by the broker will move into your possession. The company holds periodical promotions for beginners.
Types of options
Tradologic trading platform offers three types of binary options: «Digital», «Range» and «Touch».
«Digital» (digital technology) is the most popular form of binary options trading. Within the specified trading method framework trader just needs to predict the future asset price movement direction till the date of binary option expiration. That is, within the framework of the "Call" buying, the trader predicts that the future price of an asset at the time of expiration will be higher than the starting price.
With buying the "Put" option the trader predicts that the price of a trading instrument at the time of expiration will be lower than the price in the moment of position opening.
«Range» - with this form of trading, the trader profits in the case of finding the correct price of an asset within a certain range at expiration. When purchasing this option, the trader sees three prices - the higher on, the lower one and current. The "in range" option benefits if the price at the time of the contract expiration will be within the price range. The "out-range" option benefits if the price of a trading instrument will be out of the price range at the time of order expiry.
"Turbo" - high-speed trade with expiration times of 1, 2 or 5 minutes. At the same time, profit is made based on the “Digital” options trading method by forecasting increase / decrease of the price of trading instrument.
«One Touch» options are more complex. Within the specified trading framework the trader expects that the price will reach certain levels. So, when buying the «touch-down» trader makes a profit when the price of the asset at the time of expiration is equal to or below the planned barrier.
«Touch \ No Touch» option is an enhanced version of “One Touch” options. The essential difference is that the profit is fixed in case the value of the asset reaches a predetermined level. At the same time, it does not matter where the price is at the time of the binary option expiry. It is important to touch the level during the "life" of the order.
Also, the unique «Close Now» and «Extend» trading procedures are added to help the trader, they allow the trader to close the binary option before the expiry of its validity in case of the wrong base asset movement forecast for a small fee, or, conversely, if necessary to extend to a later time the expiration date of the option. This significantly extends the capabilities of the trader and allows minimizing potential losses.
High quality education
Broker provides novice traders with a unique opportunity to study the process of market analysis and binary options trading strategies. The course includes a variety of topics: the initial introduction to the financial market, fundamental and technical analysis, the use of indicators, trading strategies. Training is conducted individually with each trader wishing to be trained remotely via phone or chat. Broker is interested in quality training for traders and is making everything possible so that they can successfully trade binary options.
By contacting customer support, you will learn how to receive an electronic textbook on trading and undergo individual training.
Support service 24/6
Customer support is carried out around the clock six days a week on any of the ten languages (including English), by telephone (direct call or callback), chat, e-mail. The staff is professionally trained, courteous and attentive and quickly responds to customer calls. They will answer your questions and help you quickly resolve all the problems. There are no complaints on technical support in customer reviews. Of course, communication with traders is performed by professional consulting managers being good at binary options trading.
Deposit and withdrawal of funds
OptionXP provides a wide range of opportunities for depositing, withdrawing and replenishing of funds using electronic payment systems and credit cards: WebMoney, Skrill, Netller, Visa and MasterCard credit and debit cards, bank transfers. This procedure is simplified, there are no fees. The minimum amount of money for withdrawal is $10. Application for money withdrawal is processed during one day, withdrawal takes three days or one day for VIP clients.
What are OptionÕÐ pros/cons?
After selecting OptionXP and registering an account, you will receive an exclusive package for beginners, including personal manager, individual bonus and individual training sessions. For experienced traders, the broker provides a professional service with a modern high-speed trading platform and massive opportunities.
We should mark the following as the main pros:
- minimal deposit of 200 USD;
- minimal lot – 10 USD;
- original trading platform;
- stable server connection;
- great protocol SSL security;
- well balanced selection of trading instruments;
- intuitive operation.
Let us state the following as cons:
- the lack of price charts technical analysis availability;
- the lack of demo account.
In general, OptionXP has everything you need to ensure the quality of binary options trading for traders of any level from anywhere in the world and can be recommended for safe operation. Broker has the confidence of a large number of traders and is constantly expanding and improving trade opportunities for its clients. The ability to use trade advisors and signals unifies and identifies the Tradologic trading platform of similar terminals, which is a great alternative choice and provides traders with additional trading opportunities.