Some binary options brokers choose to make their platforms and sites dense and complicated. Not OptionXP, which has taken the opposite route and presents traders with an incredibly simple, clean website and a trading platform that is easy to use while sill boasting some nice features. On the downside, this also means that there is very little information and extras to be found at OptionXP.com, making it far more suitable for new traders than experienced veterans.
Software and Features
One of the very best things found during our OptionXP review was the excellent trading platform powered by Tradologic. Purely web-based, this platform gives traders great tools and flexibility in making trades, all the while keeping the interface simple and easy to use while under pressure. Unfortunately, there isn’t much else on OptionXP.com which is helpful. There is no demo account, and while there is a one-to-one live training course offered, it seems to exist solely in order to get new traders to reach a certain volume of trades, not actually help them be successful. Despite more than three years experience in the market, the website still has issues with broken links and incorrect language options although live chat does seem to function well.
Option Types Offered
Recently, the asset list on the OptionXP broker platform was expanded from a paltry 22 to a much more acceptable 65 stocks, indices, commodities, and currencies. The powerful Tradologic software allows for these underlying assets to be traded in the form of high/low options, range options, one-touch options, and turbo (60-second) options. Returns on in-the-money options can be as much as 81%, which is relatively high, and there are refunds of as much as 10% offered on certain losing trades.
Account Types Offered
There don’t appear to be different account levels at Option XP, though customers who make a $500 initial deposit will be treated to an OptionXP bonus of 30%. Traders who make higher deposits will no doubt be treated to extra benefits based on their individual situations. Deposits and withdrawals can be made with credit cards, bank transfers, and through e-wallets such as Skrill and Neteller, giving trader plenty of ways to fun their accounts.
There is nothing particularly stunning about OptionXP.com or the OptionXP online platform. New traders will certainly find the simplicity of the websites and ease of trading with the Tradologic platform beneficial. And while there are a certain amount of expert traders who will shy away from OptionXP, casual traders will find their trading experience to be satisfactory, and without some of the complications and confusion of other brokers.