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TraderXP Review
Not Trusted Broker By BinaryOptionsThatSuck.com |
TraderXP Overview
| TraderXP |
| Bonus: up to %25 |
| Options Profability : 66-75% |
| Rating: 5 / 10 |
  |
Basics
| Broker Name: | TraderXP |
| Platform: | SpotOption |
| Founded: | 2009 |
| Bonus: | up to %25 |
| Out-Of-Money-Refund: | 5-10% |
| US Traders Accepted: | Yes |
Features
| No. Of Assests : | 53 |
| Regulated : | No |
| Demo Account : | No |
| Deposit Options : | C.C., WireTransfer, CashU |
| Language : | |
| Minimum Deposit : |
Screenshots
Review Last Updated 2012-01-11 11:17:25
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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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- 66%-75%. Out of money option refund- 5-10%. Platform: SpotOptions. Languages- 6 different languages including English, Arabic, Spanish. Demo- No.
User Friendly 15/20
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$, credit card withdrawals are free of charge. TraderXP support is available on 14 international numbers, or via email. The service is helpful and polite, and should be available 24 hours a day (why do they sound like salesperson’s more than investment advisors?). One downside of TraderXP is the uncompetitive returns for In-The-Money which rises only up to 75%. Out-Of-Money refund is average 5-10%.
Deposit, Payment and Bonus 11/20
Minimum deposit is above average- 200$ or 200€- depends on the currency used. Deposit is available via Credit card, Wire transfer (Min 500$) or CashU. Withdrawals are available via the same methods +cheque plus postage. Additional withdrawals fee do not apply on C.C. TraderXP bonus goes up to 25% or 500$ which is below average.
Website Extra’s 15/20
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.
OptionBit rating: 67/100 – Not Regulated (-10) = 57
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3 Responses to “TraderXP”
Just want to inform you that I bookmarked your article for future reference. Thanks!
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!
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?