TraderXP Review
TraderXP Review
March 18, 2012TraderXP launched at 2007 and was the first company that introduced binary options trading to the world. With a unique web based platform in which the user is not required to download any software. Thus creating a very user friendly web site which is easy to understand and use.
TraderXP offers binary options on over 90 underlying assets covering the USA, European, Asian and Middle Eastern markets, making it an extremely diverse and internationally attractive site. For the non English speaker, the fact that the site is also displayed in French, Spanish, Norwegian, Arabic and Russian, makes it a highly beneficial and appealing platform for trading.
TraderXP unique feature is that 10% of the option’s investment is paid back even if it expires out of the money and if using option builder can be increased or reduced. The technology used by TraderXP ensures that transactions are speedy and most importantly, totally secure. Their returns on in-the-money options are high at 70-80%, ensuring a fare profit for the traders. TraderXP receive over 5 live feeds per second! from the world leading information company Reuters.
Special features:
- A set 10% refund on out-of-the-money options
- One Touch weekend options
- Website in 6 languages
- 90 underlying assets available
- Various bonuses offered and special account types
- Personal account management
- Tailored accounts
- Meta Graphs ( pro)
- Rollover feature
- Double up Feature
- Option Builder (customized option )
- Buy me out option
- iPhone app
- 60 seconds feature
- Live 24 hours support
- Signals ( for Gold accounts and higher)
Ratings TraderXP review:
Usability
The platform is on the main page , simplified to the point that as soon as one log’s in, he start trading, no time wasted.
The site is clear and neatly presented without an overload of information, making navigation around the site enjoyable. Registering with traderXP is a simple process and it gives a clear explanation and demonstration on how to purchase an option. The site’s FAQ section is comprehensive and informative, explaining a host of queries. Their Banking page is sophisticated, allowing users to select their country in order to find out the relevant methods available to them.
TraderXP provides an in-depth binary options guide which clearly explains all there is know about this investment product and video guided tour.
Registered TraderXP users have a comprehensive view of their account and its history. They can quickly view their settled options, open options, banking history, bonuses and much more. When withdrawing money, a buyer must send authorization documents as proof of identification. Though this slows down the process, it ensures a smooth and secure transfer. Once all documents are authorized, the withdrawal is processed within 5 business days.
No software download is needed, as the TraderXP platform is 100% web-based. This ensures a smoother buying experience as no software updates are needed and purchasing can be made from any computer.
An investor can purchase an option for as much as 3,000€ per option which is the highest in the industry, maximizing the potential returns.
No. of Assets
TraderXP offers options on a variety of markets – Currencies , commodities , indices and stocks. Which trades all over the world.
Expiry Range of Options
The TraderXP website has up to 8 expiry times –15 minutes, half an hour, end of the hour, day, week , end of week , middle of month or month.(depends on the asset chosen). Those also can be customized to special expiries on the Option Builder platform. Some assets ,like EUR/USD for example, can be traded up to 2 minutes before expiry.
Effective Returns
The effective return is the total percentage of return offered on an option. On the TraderXP website this is 80-86%. This is split between 70-80% for in the money options and 10% on out of the money options. This is one of the highest in the industry and is therefore a significant benefit when considering which online platform to select.
Languages
a full version of the TraderXP website is available in 6 languages – English, Spanish, Russian, Arabic, French and Russian. The TraderXP Customer Services team speaks all 6 languages obviously.
Website Extras
being the first means also to innovate, the TraderXP website offers several interesting and innovative tools and features. One such tool is Rollover. Investors can postpone a losing trade for a further expiry time to improve their odds.
They also offer the unique feature – Double Up. In which a user can duplicate in an instance an open trade with the same direction, amount, and expiry running with a new rate. This feature turned out to be very useful while trading on a strong trend.
For assets which a buyer has not yet invested in, they can view the real time trend analysis of the asset, displayed in each asset’s trading box. This will help a buyer with his Call/Put decision. The website also displays a useful and clear demo of how to purchase an option.
Another useful feature is the product, One Touch, which enables buyers to purchase options over the weekend when the markets are closed. Buyers receive a payout once the price of an underlying asset reaches a predetermined barrier. The payout reaches as high as a 500% return for selected assets. It’s a novel method of weekend trading and also during the week, aimed at the more experienced trader.
Fees/Commissions
TraderXP does not take any fee or commission from its buyers when they purchase options. They are free to place, for free, as many options as they desire. Withdraw fees are only taken in case of wire transfers.
Loyalty offers – 10 stars
TraderXP offers many different varieties of bonuses and special offers, treating its customers to ‘bonus’ money added to their account, risk free investments and more. Also special trading days bonuses ( such as NFP day). Special promotion are exists as well in which TraderXP hand’s out iPhones and iPads for her best traders.
Payment methods – 10 stars
Deposits can be made via credit/debit cards, Moneybookers, Neteller, UKash, and bank wire transfers. The user can also choose whether to open an account in US dollars, Euros or Pounds Sterling.
Support Quality
The TraderXP Customer Service team are available by phone and email, Monday-Friday, from 07:00-21:00 GMT, as well as being available live chat. They are contactable via 17 international phone numbers, enabling buyers to call a local number in their country of residence. They also offer a Call back service where a trader can request for a customer service member to contact them by phone or email. The response time for phone calls is quick and the service is polite and informative.
Overall Score:
8.9/10
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