TraderXP is a binary options broker established in the late 2009 in the British Virgin Islands. It is free to register for an account at TraderXP as you are not required to deposit any fund or pay for a registration fee. There are more than 80 assets for you to choose. All credit cards payments on TraderXP are protected with the latest SSL encryption.
Registering for a New Account
When you open a new account with TraderXP, you will receive a 100% welcome bonus that match with your initial deposit. The minimum deposit they accept for opening a real trading account is $200. The minimum investment amount is $25 while the maximum investment amount is capped at $500. Demo account is available for new traders who are interested in testing their trading strategies before investing their money in the real market.
TraderXP Trading Platform Review
TraderXP offers a simple web based proprietary trading platform with an organized layout. There is a basic graph that update you on the rising and falling of the price of the asset you are trading. There are 4 types of trades including standard call/put binary options, option builder, one touch and sixty seconds. One Touch can give you a return as high as 500%. The Call and Put buttons are large and set in a convenient location on the trading platform.
You press the green up button if you believe the price will be higher at the end of the expiry. On the other hand, you press the orange put button if you believe the price will be lower at the end of the expiry.
The trading platform support the double up feature, which allows you to double your profits by placing a duplicate trade when you notice that the market is moving in the direction you predicted. Double up is usually used when nearing the expiry time of the asset. The Rollover feature is for extending the expiry of the option so that you have another opportunity to close the trade profitably. The average payout you can expect to get for the standard call/put binary options is in between 68% – 75%. They also offer a small percentage of refund of between 5% – 10% for out-of-money trades.
TraderXP has an education center that offers many free live courses, and e-books. You must be a member before you to get access to the materials in the live courses. There is a guided tour that teach you about all the available features on the trading platform. They also have a video tour, which you can access by clicking on the Video Tour button on the right side of the education center.
TraderXP supports all major credit/debit cards for deposits and withdrawals including Visa, Delta, Diner, Maestro, MasterCard and Solo. If you use Maestro, you must first obtain a 3D code from the bank before making a deposit. TraderXP also accept other payment method such as Neteller, Skrill, Nordea Netbank iDEAL, CashU and bank wire. iDEAL is for traders from Denmark while Nordea Netbank is designed for customers based in Sweden and Finland. CashU is for customers who come from countries located in the Middle East and North Africa.
TraderXP offers three methods for customers to reach their customer department including email, live chat and telephone. If you want to contact their customer support team, you can contact them during their business hours from 8:00 AM – 5 PM GMT. They offer telephone support for 3 countries including Canada, UK, and Australia. Trader XP’s customer support is multilingual and support international languages such as English, German, Norske, and Turkish.
Is TraderXP a good broker?
In conclusion, TraderXP is a credible broker that have won the trust of many traders around the world. It has a user friendly platform that includes several useful trading tools for helping to succeed in your binary trading.