TraderXP Binary Options Broker
Moreover, TraderXP is doing everything in order to provide its own customers with all the necessary information and advice on options trading. Trading platform contains a number of features starting from the around the clock chat and ending with account manager, economic and financial news, market analysis and personal training. However, all that is written above is just a welcoming word. The fact of it corresponding to reality will be found out below.
Terms of trading
- Profitability - from 70% to 400%
- Loss recovery – up to 10 %
- Minimal deposit - 200$
- Minimal stake - 25$
- Demo account – No
- Mobile version –Yes
- Education – Yes
Trading account registration
In general, it is very easy and understandable. It takes literally 2-3 minutes for anyone to become a client of the TraderXP brokerage company. You will have to fill out a simple online form and choose the type of account that you want to open. The broker offers 3 currencies to choose from for replenishing the account – the American dollar, euro or the British pound. Methods of replenishment are also of the same number. Company provides customers with maximum ease of VISA and MasterCard payment services use, as well as electronic payment systems.
In addition, it should be noted that the created account should be verified. To do this, you need to make a color scan copy of your passport and send it to customer support through your own personal trader account.
Types of trading accounts:
The company applies the ranking of client accounts according to the size of the funds deposited.
"Trader" - deposit size from 200 to 999 USD - daily market reports, weekly market reports, in-depth study of "candlestick" chart, E-book and a package of educational materials;
"Manages" – deposit size ranges from 1000 to 4999 USD - daily market reports, weekly market reports, in-depth study of "candlestick" chart, E-book and a package of educational materials, overseeing the process of funds withdrawal, account management services, one trading strategy, money management lessons, one risk-free trade;
"Gold Level" – deposit size ranges from 5000 to 10 000+ USD - daily market reports, weekly market reports, in-depth study of "candlestick" chart, E-book and a package of educational materials, overseeing the process of funds withdrawal, account management services, 3 trading strategies, money management lessons, 5 risk-free trades, personal manager.
Advertising slogans of the company say about the uniqueness of the provided trading software. However, after opening the trading section at the trader personal account page we found a completely common SpotOption trading terminal. Good or bad - it's up to every trader to decide. On the one hand, it is an optimized for the most common traders’ requests trading platform, which is characterized by its speed, functionality, great features and a sufficient level of security. On the other hand, there is nothing new in it for you to see. It is still poor from a professional point of view, beginning with the lack of tools for technical analysis and finishing off with building financial assets quotes charts as a line.
Let us note the main trading platform advantages:
- security by the SSL protocol;
- excellent options selection;
- large number of financial assets;
- excellent design;
The main drawbacks are:
- a lack of technical analysis tools;
- linear charts building.
Thus, it is possible to draw conclusions about the TraderXP insincerity when characterizing its own trading platform. At the same time, let us notice that this is not the worst binary options trading software.
There are 83 assets at the TraderXP Company. The company assets inventory includes 34 of most popular stocks, 14 popular currency pairs, 7 commodities and 28 indices from all world stock exchanges. All in all, it is not bad for a brokerage company nowadays of the financial services market development and it is enough for the trader to maximize binary options trading opportunities.
TraderXP provides its customers with bonuses ranging from 30% to 100% depending on the sum of funds deposited for the first account funding. The company also offers “Manages” and “Gold level” account users an opportunity to use risk-free trades.
Types of options
Considering the types of options, TraderXP provides 4 of them.
“Binary option” traded with the “High / Low” principle - predicting increase or decrease of the asset value in comparison with the price of trade execution.
Option Builder - a great options designer that allows building your own trading system based on non-standard terms of expiration.
One Touch is a well-known binary option, under which the trader predicts a level that should be reached by the asset price before the expiration.
60 seconds is an option with high-speed expiration. Only 60 seconds period separates the trader from making a profit or a loss. Trading is based on the “increase-decrease” principle, but high-speed trading approach made it into a separate option type.
Traders education at TraderXP is based on an interactive introductory course, a few video lessons (without in-depth studies) as well as a virtual book about the basics of binary options trading. And that is all for the education. In principle, most of the brokers are on the same path, making the primary focus on the quality of trade services while forgetting about the professional training of their customers. This path was chosen at TraderXP as well.
The situation here is not as bad as at education since the company has 9 supported languages (including English). On-line chat, orders for a call-back and e-mail exchange are presented. At the same time, support is on a great level and never makes the client to wait for long.
Deposit/withdrawal of funds
TraderXP Brokerage Company offers its own customers to deposit funds via PayPal, Neteller, Monybookers, WebMoney and CashU. Of course, it is possible to replenish the deposit with the help of VISA and MasterCard credit cards. Customer credit transfer occurs instantly. Withdrawal is possible by using all of the mentioned payment systems. Term of the funds withdrawal is 3 days.
Main TraderXP advantages:
- the use of common and reliable trading platform;
- minimal deposit is 20 USD;
- minimal trade is 25 USD;
- trade security and protection of financial information;
- mobile trading platform availability;
- bonuses availability;
- risk-free trades availability;
- good selection of financial assets;
- availability of loss recovery;
- excellent selection of options to trade;
- Multilanguage support .
Following cons should be noted:
- a lack of technical analysis opportunities;
- a lack of proper education;
TraderXP can be described as a mid-level company within similar operators of binary options trading services rating. However, the terms of trading and trading terminal options are at a sufficient level for comfortable binary options trading on financial markets. In addition, the TraderXP Company is a developing one so enhancing its support services quality (education and professional support) seems to be just a matter of time.