The binary options broker TraderXP has been around since the dawn of the binary options era, 2009. As such, they can be considered to be one of the oldest and most successful brokers. However, Traderxp.com hasn’t kept pace with the newest generation of brokers as much as other similar sites. That being said, they still provide a range of quality services and a solid trading experience than many traders will be pleased with.
Software and Features
The TraderXP broker platform is powered by the industry leader, SpotOption. This means that the trading platform is not only powerful and versatile, but easy to use. Recently, they added the ability to trade through mobile apps, which is great to see. The website at TraderXP itself could use a bit of work, as it doesn’t function optimally in certain browsers, but otherwise it looks good and is generally easy to navigate. TraderXP does offer its a traders a wide range of extra features including a great educational area with e-books, videos, live training and more; although a demo account would be nice to see in the future. Additionally, excellent customer service is available 24/7 over the phone and through live chat, and is offered in far more languages than most brokers have.
Option Types Offered
A wide selection of more than 80 assets are available to trade in the categories of commodities, currencies, stocks, world indices, and pairs. As TraderXP uses SpotOption, there are plenty of different option types including standard, one-touch, and 60-second options as well as an option builder that incorporates the ability to sell back trades early or roll them over before they expire. Returns might have been great in 2009, but at a maximum of 75% they are a little bit low for a modern broker.
Account Types Offered
As of our TraderXP review, there were no set account types like those found at other brokers. Instead, each trader gets an account tailored to their needs based on their initial deposit and trading history. A TraderXP bonus is available to traders who make a first deposit of at least $200, with a 25% bonus being the standard amount, though higher bonuses are offered from time to time. There are plenty of ways to make a deposit such as credit cards, various e-wallets, and wire transfers.
There was a time when Traderxp.com was one of the stars of the binary options trading world, but the competition has caught up to them over the years. However, TraderXP is still a solid broker with the name recognition and pedigree to provide excellent service to its traders and many options traders remain very pleased with their services.