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TraderXP Overview
| TraderXP |
| Bonus: up to %70% |
| Options Profability : 65-75% |
| Rating: 6.1 / 10 |
  |
Basics
| Broker Name: | TraderXP |
| Platform: | SpotOption |
| Founded: | 2009 |
| Bonus: | up to %70% |
| Return/Refund: | 65-75%/0-10% |
| US Traders Accepted: | Yes |
Features
| No. Of Assests : | 53 |
| Regulated : | No |
| Demo Account : | No |
| Deposit Options : | C.C., WireTransfer, CashU |
| Language : | 6. Including English |
| Minimum Deposit : | 200 |
Screenshots
Review Last Updated 2013-05-07 18:41:29
Editor’s Note- Why does TraderXP suck in 50 words
TraderXP are defiantly a marketing machine. They really know what traders want and publicize it pretty well. The variety of assets and trading tools blinds trader’s eyes like shining neon on a dark road, but once you get used to light you finds out that you’re someway off the road. Variety is only good once you know what you are doing, and if you know what you’re doing, why don’t you look for a broker with higher profits?
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Why TraderXP doesn’t suck in 50 words
We’ve recently heard from TraderXp that a new owner has taken over the company, all the unsatisfied costumers would receive their money back and the site will undergo a serious make up. bots.com team will keep monitoring. Meanwhile, the site is closed
TraderXP Full Review- Profit is Inside?
Launched on late 2009, TraderXP 100% web based platform could be considered as one of the veteran Binary Options Brokers. TraderXP is based on SpotOptions trading platform, very simple to use and trade, and with over 53 assets available to trade TraderXP became a very popular broker. TraderXP provides great trading tools such as One Touch Options- enable traders to trade over the weekend, live news feed and also provides to its costumers is the support and live chat available in 12 countries 24 hours a day, always polite and ready to help. So why does TraderXP Sucks? Profits are the answer, sadly, especially because TraderXP’s slogan is “Profits Inside”. Minimum deposit is above average while the bonus percentage is less than 25% makes the initial deposit lower than most other Binary Options Brokers. A trader who decided to trade with TraderXP will receive a lower initial amount of cash than he could receive from other brokers. Furthermore, TraderXP In-The-Money profitability goes only high as 75% in good days, which make them lower than most brokers, but nevertheless Out-Of-Money refund is average (5-10%). Risky investors who know the market and do hesitate to make large trades will find these cons plus the maximum investment which is only 1000$ as a big problem, so I wouldn’t recommend high risk (=High Profits!) traders to trade with the XP. Another issue that might pop for high rollers is the charging fees added to most withdraw methods. More solid investors will find these cons as pros since the large amount of assets to trade and investment limit makes trading broader and assumingly less risky, off course only in case you know the market well.
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Is TraderXP Scam?
While searching the web for comments and reviews about TraderXP, I couldn’t have missed the amount of trash and negative comments written about this company. Many low-class marketing so called “review” sites claimed that TraderXP had actually stole it’s glossary, but had no facts to prove it. The glossary is not complete indeed but I’m not sure it’s stolen. Many other claim that TraderXP cheats or don’t payback profits. My opinion about all of this is actually different. In some cases low bonus is actually better in case of withdrawals, so complaints like these matches better other bad Binary Options Brokers, then TraderXP. Moreover, I think that most of those complaints come from beginners who lost their money very quick. Why beginners? Because TraderXP is not for beginners. The large amount of assets demands experience to handle, and the bonus isn’t large enough anyway to make stupid decisions. Another downside for beginners is the minimum investment-20$, which is average but usually matches more the amount of bonus and the lack of any kind of loyalty offers. Overall, I believe TraderXP isn’t a fraud, actually the other way around- I think they are pretty good, but nevertheless, trading with TraderXP will not make you profits. My advice to traders who know the market and know how to make profit is to stay away from traderXP, the same goes to beginners. Solid investors who wants to trade overtime may find TraderXP more enjoyable, also thanks to their real time yahoo news bar and the brand new Pro/Fast Option (details at the bottom), but don’t expect the biggest profit withdrawal available in town every month.
TraderXP Ratings
Since 2009. Trading Assets- 53 trading Assets. Minimum Deposit -200$, 200€. Payment- Credit cards, wire transfer, cashU. Options Profitability- 65%-75%. Out of money option refund-1-10%. Platform: SpotOptions. Languages- 6 different languages including English, Arabic, Spanish. Demo- No.
User Friendly 14/20
TraderXP is 100% web based platform, so there’s for software to be downloaded. The website is clean and organized, the demo is short and simple to understand, there is a live news sidebar available and finally scrolling between assets is easy and simple. On the downside, the glossary is a bit short and doesn’t cover all terms, and sometimes the site is getting slower due to the amount of details and scripts running on each page.
No. of Assets and Expiry time 14/20
Total of 53 Assets: 17 stocks, 12 currencies, 4 commodities, 20 indices make TraderXP in the top half of the industry in terms of assets available to trade. Another plus is the Touch option available for trade over the weekend when the markets are closed for a chance to make up to 400% return.
Commissions, Support and Effective return 12/20
TraderXP do not charge any fees or commissions from investors when they deposit or purchase options. For withdrawing via wire transfer TraderXP charge 25$, credit card withdrawals are free of charge. TraderXP support is available on 14 international numbers, or via email. The service is helpful and polite, and should be available 24 hours a day (why do they sound like salesperson’s more than investment advisors?). One downside of TraderXP is the uncompetitive returns for In-The-Money which rises only up to 75%. Out-Of-Money refund is average 1-10%.
Deposit, Payment and Bonus 10/20
Minimum deposit is above average- 200$ or 200€- depends on the currency used. Deposit is available via Credit card, Wire transfer (Min 500$) or CashU. Withdrawals are available via the same methods +cheque plus postage. Minimum of 100$ for withdrawal. Additional withdrawals fee do not apply on C.C. TraderXP bonus goes up to 25% or 500$ which is below average.
Website Extra’s 11/20
TraderXP has some useful and refreshing extras such as the Option builder, where the trader can customize trades that will follow their personal trading style. Another great extra is the Yahoo live news bar, keeping the investors up to date with latest news. Another new option recently added is the Pro/Fast option for different types of investors. Overall, TraderXP has a nice variety of extra features.
TraderXp rating: 61/100
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Just want to inform you that I bookmarked your article for future reference. Thanks!
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TraderXP is a scam, no doubt about that – do your DD and you will be convinced. Also check out traderxpwarning questions are very welcome!
Trading fx for +20 years so no beginner mistakes here!
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Hi they are really faruds. I been chaseing them for my money to transfer them to my account and until now no response. Everytime they ask me to submit docs and then they go quiet. Even there live chat option never works.
Is there any way we can take legal steps against them?
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I agree the fact that they are SPAM,and fraud people.I asked them for my money and received noreply!!!!!!!!!
Please be carfule they are SPAM and bastard.
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BECAUSE TRADERXP does not tell the new prospect that if I wish to trade currencies I cannot be from the USA I funded my account and did get a bonus and then did a trade in the stocks area and cam out OK on the trade I have more than what I personally put into the account. I wish to trade ONLY the FOREX (currencies) though. I was not told that I could not trade currencies prior to my funding. Now I can not retrieve my funds. I found another broker that allows me to trade currency and I need my funds sent back to me so I can fund the new account. How do I get my funds sent to me??
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I agree that Trader XP is a scam.The same as people above,to withdraw money is not possible at all.No replies to emails sended to them.When you ask to speak to someone about your problem ,no one will make a move to answer you.All my money that i’ved made was taken and they are all a bunch of crooks.I would also like to take legal steps against them.
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Absolutely fraud. once they start sending you emails, they won’t stop. those people should go to Jail.
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Hi,
I had problems with TraderXP in the past but in all fairness I have to say that even if it took some time to settle, everything was solved to my satisfaction.
As I have not been trading binary options for several months now, I have no recent experience with TraderXP or any other binary options brokers so cannot say who you can trust and wo not.
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Well it worked out for me, idk about the “technical issues” but I won requested my money and it was deposited in my account without problems
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Stay away from them once you deposit your money you will never get it back
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After telling the account manager that I didn’t want to deposit anymore money about a week after he charged my credit card with $800 NOW I HAVE NO MONEY IN MY ACCOUNT AND CAN’T PAY BILLS OR DO THE SHOPPING, HAVE TRIED TO CONTACT THEM GOT THROUGH ONCE AND WAS TOLD I WILL BE CALLED BACK, NOW ALL I GET IS THE STUPID MUSIC AND CAN’T GET THROUGH. I’VE TRIED CONTACTING THEM ALL AND AM NOW THINKING ABOUT TAKING LEGAL ACTION TO COURT. THEY HAVE NO RIGHT TO WITHDRAW MONEY FROM MY BANK ACCOUNT WITHOUT MY CONSENT. I’VE CONTACTED THE BANK AND THEY ARE MAKING A DISPUTE.
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I have funded my account with $1000 on the 12 nov 2012 and when i try to log in with my details they are declined.
I just want my money back
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Trader XP
I fund my account with 200usd on novemver 13 with charge to my credit card. I ask the refund of my deposit several times and nobody gives me an answer. I think that my money has been stolen.
Please nobody put their money there. Does anyone know to whom may denounce this type of thieves?
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SCAMMED ME BIG TIME! I would request withdraws and never get them,the clock would stop in the middle of trades causing you to lose!Changing the rules Took $800 from me and got not a penny in return!! How is that a promise to make money at home!
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I’m a client of Traderxp.com. One of the reasons why I registered on this forum is because I want to alert people who is currently trading with Traderxp.com, or is interested in trading with them in the future.
Since Oct.10/2012, I registered my first binary option account with traderxp.com and starts trading with Traderxp.com (http://www.traderxp.com)? I began with a mandatory 500USD, depositing in to my account with Traderxp.com. And for almost 2 month, I was lucky that I had made some profit.
On December 6, 2012 I requested a withdrawal of partially the money in my account, but problems starts coming. At first they said in order to do a withdrawal they need 5-10 business day and required my bank account. Then after I sent to them all my documents and information, I waited over 10days, during this period I sent email to Mr. Paul every day because I found out they closed my account on Dec 12, 2012- I could not logon to my account anymore and I still had some position opening at that time. Mr. Paul explained that their risk department inspects my account, but on Dec.20, 2012, Mr. Paul replied my email said:
” Hi Mr. Wang,
Sorry for delay. I just got the answer this morning. I can see your account has been closed and your initial 500 USD deposit refunded back to your credit card and rest of the balance forfeited. As I told you before risk department informed me you we’re abusing the system during trading and traded against site terms & conditions. I believe we’re not the first binary company you’re dealing with and you know exactly what I’m talking about.
Regarding complaints on the net, I can find plenty of them about any other financial institute or even biggest corporations like Apple etc., so it doesn’t impress me at all.
Thank you!
Good luck in the future trading!”
Are you kidding me—what is “abusing the system during trading and traded against site terms & conditions”? If someone won some profit, that is against your terms? In addition, traderxp is my first binary option broker, I have never traded binary option before. I don’t know why they said “ I believe we’re not the first binary company you’re dealing with and you know exactly what I’m talking about.” Traderxp.com is a scam, and never believes what these liars say. And I’m writing to prevent other people from being fraud by them.
I have screenshots what about everything including support chats, account statments etc. and I determined to get the complete account balance due to me or use every legal mean to have TraderXP closed down.In addition, I have already reported this to Royal Canadian Mounted Police(RCMP).
Right now I am waiting for their reply.
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How do I delete my traderxp account? Please help!!
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I have requested a refund on my account of $900, after they charged my account an additional $500. They basically refused to refund my money. Crooks and Scammers. Stay away!
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Trader xp is in the business of fraud, not trading. If you manage a profit they will keep your money. If you incur a loss they will keep your money. Understand, they will keep your money.
They do not honour or respond to correct documentation, phone calls or emails. They have someone called ” Guy Young” play arouind on Skype as if assisting but they have no intent of returning one Euro. Like many other suckers I wait for my funds to be returned. It does not happen fro they are in the fraud business only.
Their currency trade quotes are also false. The keep option expiry times open past maturity if they are at a loss and close the trade early if they are in profit. They cheat in every way possible to defraud the client.
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i have registerd to them ,and they start to call me everyday ,many times,proposing and persuade me to make deposit and take a bonus…i note that they are very intrusive in that way,tnks god i come to this forum,i will never make a deposit at such broker!!!
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i agree i deposit 5000
they gave me the gold account promiss to make trades with me so they did 3 trades then asked me for 5000 more so i could have high returns when i told them i don’t have more money
they stop contacting me or helping me with trades i lost the 5000 on first deposit plus bonus
they find a way to take peoples money in a very charming way they tell you that you will make much money it is a scam they are just sales people traned to sell something they don’t have and make comotion on peoples money they really suck it is the truth
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I don’t know whether whether you called TraderXP a scam website or not? I have been requested for a withdrawal for more than 1 1/2 months by now but no news on my refund at all. Don’t cheat by the those comments above.
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This is the biggest scam in the world! They got me to the tune of $21,000. Wish someone could put these people in jail!
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That’s funny Jordan Gray from Trader XP swears they aren’t a scam wink wink, I have wasted so much of his time that you should definitely do the same jordangr@traderxp.com and tell him how much you lost and that they are nothing but trash.
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