Min deposit: $ 100,00|Open Demo Account
OptionXP is another Binary Options broker has their headquarter located in Cyprus. OptionXP established in 2010 and is already a mature broker by Binary Options standards. OptionXP is a close relative to OptionBit because both of them are part of a company. So, if you have traded and satisfied with OptionBit, you would have no problem whatsoever with OptionXP. OptionXP choose Cyprus as their country of headquarter, it’s a good move since at least they’ll have some oversight by CySEC even though CySEC doesn’t regulate them. Tradologic trading platform – a fairly common platform among Binary Option Brokers; is used by OptionXP. With approximately 81%, the payout is quite good, but not among the best. ( There’s almost all kind of Options available: Bounday, aka Range, Binary Options, Touch. It’s the same as other brokers who use Tradologic trading platform. If you have knowledge and skills to forecast low or high volatility, these options could be very interesting and profitable to trade. Few great points are that the minimum deposit is just $100 and the minimum transaction amount is just merely $10, which could be attractive for novices who don’t want to or can’t invest more capital. However, there is a little trouble with a demo account which we have not been able to verify because of support problems.
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OptionXP is one of the brokers with the fewest underlying assets. They have only 35 underlying assets to offer their clients, which is less than half of some Binary Options brokers. If you’ve traded an asset before, it might not be available to you. For example, an important company as IBM is not part of the asset index of OptionXP. So, even if you have traded very common stocks, they could be not on the list of assets available for trading. One asset isn’t available is the Bund Bond, a German bond traded as a futures in Europe. There’s very limited assets from Europe and North America. So, is there anything for traders from Middle East and Asia? How can they access to their common assets? All people from all regions always enjoy trading assets which they are familiar with. At least, OptionXp has currencies on their list of assets. Besides, with currency, you can basically trade 24 hours a day because currency moves around the clock, which gives good opportunities to traders from different region as well.
Tradologic is a tested and tried trading platform. Because OptionXP has been around for some times, so they have dealt with all the minor problems that can potentially arise for traders while trading. We basically haven’t endured any problem about trading performance with this broker. Of course, there’s a little delay between the trade entry and trade confirmation, but that’s totally normal because data takes time to be sent to the servers. However, we do suggest you to use a dedicated browser for trading purpose only because Binary Options platform takes a lot of RAM resources.
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OptionXp is using Tradologic trading platform and that is not the best in terms of charting. They also have the basic charts as other brokers, but we can’t change sizes of the charts. Moreover, there is no way to request more historical price data which is very helpful for traders to understand the price trend. Price might show a downtrend on the charts, but it might be actually in an uptrend for the long term. So how can you predict correctly about price trend when you look at partial data? On the contrary, the broker should make the charts easier for traders to make correct decisions. We recommend that you should use a free charting service like MT4, especially with this broker.
The user friendliness of the trading platform is quite good. Firstly, it’s easy for traders to understand how it works. Besides, OptionXP uses pictures to show how to enter and order after you have formed your decision about price trend. Unfortunately, there isn’t any sort of filtering function which helps more sophisticated traders managing their assets. Anyway, the assets are just as little as 35 assets, so there wouldn’t be a problem finding a favorite asset.
OptionXP received some complaints about the lack of trading assets, the fact is that almost all complaints about OptionXP are that they don’t offer traders’ favorite assets. There are no complaints about withdrawal problem, if you have any complaints, please don’t hesitate to contact us.
We didn’t endure any trouble withdraw our winning money from OptionXP. Actually the support are quite helpful since they call us to ensure that it’s us who make the withdrawal request. Usually, from the time of request to the time money in the bank, it takes around 7 business days. However, there’s could be difficulties for you in withdrawing process, if so please contact us, we’ll immediately publish in our OptionXP review.
A demo account is available, at least so they claim. If you are completely new to trading this is the way to go. Trading needs practice to achieve success; in that respect it’s not different from anything else. As we see on the website of OptionXP, all methods to communicate with them are at hand. However, they actually don’t work at well. When we tried to get in touch with OptionXP, both email and Live Chart weren’t working. We really don’t know what’s going on, but we can estimate that they have too little people in the support department.
OptionXP General Information
- Headquarters: Nicosia, Cyprus (for exact location see map below)
- Founded: 2011
- Domicile: Cyprus
- Minimum Deposit: $100
- Minimum Transaction: $10
- Maximum Transaction: $1000
- Markets: Forex, Stocks, Indices, Commodities
- Number of Assets: 35
- Max In-The-Money Return: 81%
- Max Out-Of-The-Money Return: 10%
- Lock-Out Period Duration: 5 minutes
- Option Frequency: Every 30 minutes
- Early Closure:
- Roll Over:
- High/Low Binary Options:
- One Touch Binary Options:
- Boundary Binary Options:
- Binary Options Builder:
- Sell Options:
- Long Term Binary Options:
- 60 Second Trades:
- Option +:
- Deposit Currency: US Dollar, British Pound, Euro
- Account Funding: Credit Card, MoneyBookers (Skrill) or Wire Transfer
- Accepts Clients From: All nationalities, except Cyprus, Nigeria, Bulgaria and Israel
- Demo Account:
- Deposit Bonus: , 30% up to $1500