This broker is closed! Try trading with HighLow instead.
TraderXP is a UK brokerage that lets users from all over the world use their platform to take part in financial markets in order to profit from global asset flows while trading the super easy binary options. TraderXP review shows excellent features on a easy to use trading platform and an internationally available support service. We liked the easy to use platform and the many support channels in our TraderXP review.
Account Features
Binary options trading is fun and TraderXP tries to make their customers’ experience even better with many promotions and other kind of useful information. As we learnt with TraderXP review, there are no trading accounts, meaning the features presented are offered to every trader who signs up and deposits. Some of the features TraderXP includes are:
- e-book on binary trading,
- daily and weekly reviews,
- SMS and e-mail signals,
- SMS and e-mail promotions,
- bonuses.
TraderXP doesn’t only try to award as much bonuses as possible, but also offers great features such as signals, which are at other places only part of very advanced and (deposit wise) costly premium accounts. TraderXP review showed us customers can always opt out of the SMS / e-mail notification programs by sending an e-mail or a fax, but then they could miss opportunities.
TraderXP bonuses are awarded regularly and are offered to new and current customers. They are usually awarded as part of a promotion – we got one during TraderXP review. Since the goal of the bonus program is to make trading experience more fun by adding more funds, TraderXP and others put a turnover requirement before bonuses can be withdrawn. TradeXP has one of the lowest requirements – 2 times deposit + bonus, we loved this during the TraderXP review.
If users don’t use their account for a month, it is advised to withdraw funds since dormant accounts are charged $50 monthly maintenance fee. A clear dormant account policy is one of the reasons TraderXP review was important one for us.
Trading Software & Assets
TraderXP review showed this broker has excellent balance of usability and professionalism. The trading software runs straight from the browser window, is an intuitive way to place trades on various underlying assets offered. TraderXP platform includes trading high-low option, 60sec options and OneTouch options. There is also an Option builder.
Option builder is a customization tool that allows traders to suit the trade as they see best. It offers additional flexibility and risk management options. We used it heavily for the TraderXP review.
One Touch options are ones of the most popular since they are a lot of fun and offer amazing 500% returns. These options are more risky but by tying the trade to the price level and not expiry time, additional excitement is guaranteed.
TradeXP review review reveals, additional risk management tools are available trough Double up and Rollover. Double up lets users add funds to the open position if she believes the chances of ending in the money are better than at the moment of making the trade. Rollover works in a different direction, by turning potential loss into profit by extending the expiry time. Usually rollover is available 5 minutes before expiry, but TraderXP has set this option to 10 minutes before expiry!
TraderXP review showed a long asset list composed of 15 currencies, 33 stocks, 7 commodities and 28 indices. The equity side is really well represented and above average currency list is good for Forex converts.
Support Information
We already mentioned the excellent customer service of TraderXP. It is a truly global network of satelite offices that is accessible during trading times. Users from all over the world can be expected to be greeted in their own language, as we were during the TraderXP review, since phones listed are located in the following countries: Australia, Bahrain, Canada, Cyprus, France, Hong Kong, Mexico, Norway, Russian Federation, Singapore, South Africa, Spain, Switzerland, UK, Japan, Germany and Turkey.
There is also a 24/7 contact option via mail of via live chat that is embedded in the bottom left corner of the website window. Users will probably have to rely on customer support since the website could use a bit more general information so one doesn’t have to go trough legal sections and read small script to find out basic things. FAQs are not fully done yet, so we direct every trader to the customer support.
Banking & Company Information
TraderXP has a very good banking service in terms of offering depositing and withdrawing trough a wide range of financial services providers and banks. Safety is embedded in the technology TraderXP uses to process transfers. Fund transfers are available via bank wire, credit cards, e-wallets, Nordea, Western Union, iDeal, CashU. There are various services tailored for specific regions and countries, underpinning the fact that TraderXP is truly a global broker.
Minimum deposit is $200 and users can use aforementioned payment methods to transfer funds to the trading account. Wire transfers might come with some fees. Credit cards supported are: Visa, Delta, MasterCard, Diners, Visa Electron, Maestro, Maestro UK (Switch) and Solo. Note that users with Maestro need to get the 3D code at their bank first. Skrill/ Moneybookers is also supported with local versions such as Giropay, Sofort, Przelewy24, CartaSi, but also Nordea system for Sweden and Finland, iDeal for Netherlands and CashU for MENA countries.
When withdrawing, users will have to file a request trough the user control panel. Request processing can take up to 5 – 10 days as TraderXP review revealed. Minimum withdrawal amount is 100 units. We find withdrawal rules somewhat restricting. In addition to that, fee is paid for every withdrawal, $35 per transfer. Monthly maximum withdrawal amount is $5000, which some large traders won’t like. Please let us know if you have something you want to add to our TraderXp review.