Trader XP- An Outline of Trader XP
Trader XP is one of the most sought after binary options brokers because of the facilities it provides and the trading platform it uses. Binary Options broking requires the broker to have good and reliable trading platform and a general goodwill amongst traders from all around. Trader XP has been quite famous all over and has a very good reputation betwixt seasoned as well as novice traders. There are many people who are absolutely new to binary options trading and therefore need a broker who acts as a genuine guide and makes trading easy for them, in such cases, Trader XP ranks amongst the best.
Trader XP was developed late in the year 2009 and is being headquartered from Cyprus since then. They are one of the first brokers to come in the scene of binary options broking. Their prime motive of coming into being was providing traders with a very simple and intuitive trading platform where traders could earn money quickly. Located in Cyprus, Trader XP lets investors invest their money in stocks, commodities, currencies and indices and earn. Since the last few years they have climbed up the ladder of success quite steadily and have created a big name for themselves.
In this piece of writing, we will give you an in-depth review of Trader XP and will make you aware about the trading platform which they use, their trading accounts and functioning, their trade contracts and many other features and facilities which they provide. We will also sum up the pros and cons of trading with Trader XP. There is going to be a short review on their customer service department as well. So let us quickly take you through all of this.
Trading Platform provided by Trader XP
Trading platform becomes the heart and soul for any trading company. Trading platform makes or rather takes charge of the entire trading process. Trader XP has been quite wise when it comes to choosing the trading platform. They have chosen SpotOption as their trading platform. Most of the brokers across the world choose SpotOption as their trading platform. The main reason for choosing SpotOption as a trading platform is the features and functions it provides. All of the features and functions are easy to operate and understand.
It is a web based trading platform and does not require the user to install any of the software. It means that one can continue with trading no matter where he is. Every computer is capable to run Trader XP’s trading platform as it does not bring any complications with itself. Here are some of the features of SpotOption trading platform:
- Very easy to understand and operate
- Many tools like “roll over”, “close”, “double tap” etc come with it which increases overall productivity of the platform.
- Provides overall stability unlike other platforms which are quite infamous for crashing several times.
- Widely used be people all around the world, therefore, it is quite reliable.
These advantages and features make SpotOption the right trading platform.
Trading contracts or types offered by Trader XP
Trading contracts actually give the traders a freedom to choose what type of assets they want to trade in and also what the budget is which they have before making initial investments. Here is a look at the trading contracts offered by Trader XP:
- Traditional Binary Options (FRO): The first type of trading contract which is provided by Trader XP is the traditional high or low and calls or put options. Here a trader will have to judge whether the price of a commodity is going to increase or decrease after the end of a trading term. This is the most common type of trading contract which is offered by almost all trading brokers. It is meant for traders who want to keep their profile low or for traders who are a little new to the trading world.
- Option builder options: The next type of trading contract is called option builder. This type of trading contract is meant for investors with a little experience in the trading industry. Here, a trader can customize and build trade as per his/her requirements. Investors are allowed to choose their investing styles and patterns.
- One Touch Options: The third type of trading contract which is offered is known as the One Touch Options contract. This is the most rewarding type of contract as it is quite similar to betting. Here, a trader will have to give a predetermined price of an asset. Now if the asset reaches or crosses that price then the trader will earn around 500% returns on investment or else might suffer a loss.
- 60 seconds options: This type of contract lets a person earn in a very quick span of time and that is less than a minute. A person will have to determine the direction of price trends of a particular commodity at the end of a minute. It is meant for experienced customers and is quite rewarding as well.
These were the four major types of trading contracts which are provided by Trader XP.
Accounts and features of Trader XP
Trader XP has kept it quite simple when it comes to the variety of accounts on offer. A person can begin trading with a Standard account. This is the only type of account which can be created by a user. There is a minimum requirement of $200 to begin trading. One gets access to free market reviews and knowledge. There is also a free eBook which is provided to the traders to learn and earn.
Here are some of the exclusive features of Trader XP which one gets to enjoy:
- Double Up tool: Using this tool, a trader can double up his investment and earnings if the price trend of an asset is moving in the direction as he predicted.
- Rollover Features: This is the second unique feature which an investor gets to enjoy, with this feature a trader can increase the expiry term of the asset in which he invested. This is quite useful if the direction of the trend is moving as per the trader’s prediction.
This was all about the account and features provided by them, now let us talk about the fund reliability of Trader XP.
Each and every trader in the world has concerns about his/her fund. Most of the brokers these days take a long time to process the withdrawals of a trader and this is why many of the traders have lost faith in binary options brokers. In case of Trader XP one gets a high amount of assurance and reliability that the fund is being properly managed. There are multiple deposits and withdrawal methods which are mentioned hereunder:
- Credit Cards
- Nordea Netbank
- Wire Transfer
With these many methods of funds transfer one can be well assured that they will receive their funds on time and in the most suitable way.
The payout ratio is as high as 500% in case of One touch options but one gets a return of around 68-75% in case of successful trades.
This is the most important department which concerns people. Customer support is indeed very important for most of the traders as they are new to the world of online trading. There are people who get stuck with certain things, but what we have seen in many cases, the customer support department fails to deliver. This is certainly not the case with Trader XP; they are highly accessible and provide generous customer support.
One can reach the customer support team by contacting them through emails or even via phone calls. One can also reach out to them via live chats. firstname.lastname@example.org is their email id where one can get all their doubts and queries cleared. Telephone support is available for most of the people in their localized language. The following countries can get support in their local language:
- Hong Kong
- Russian Federation
- South Africa
This website is a multilingual website as well.
Here is a look at the pros of trading with Trader XP:
- They have a great trading platform called SpotOption which is unique and highly reliable.
- The provide a great list of assets to trade in
- The payout ratio is quite high
- They provide support in multiple languages.
Now let us check out a few of the cons
The rollover feature needs to get improved.
To conclude, we would say that Trader XP is a very good trading broker which lets a person trade in multiple assets. It is regulated and has made a solid goodwill amongst traders. There are some major advantages as well and this website looks to go long. It provides traders with a safe trading environment.