OptionsXO, based in the United Kingdom, was founded in 2012 and is one of the world’s leading online binary options trading brokers trading Forex options, Stock options, Index options and Commodity options.
Among their many features, OptionsXO offers several account types with different commission structures.
The mini account is free and provides the investor with full access to the trading platform. The minimum investment is only $200, easily affordable by any interested trader, and significantly lower than most other brokers demand.
The Silver account is also commission-free but requires $2000 to start. Investors who open this account receive an additional return of 2% on every trade and can access all asset and instrument types. Investors in this account also receive free access to OptionsXO’s learning center, market experts’ analysis and free trading support.
The minimum initial deposit to open OptionsXO’s Gold account is $5,000. Investors receive a return of 3% on every trade. Platinum account holders must put down $10,000 to start. They enjoy all the privileges provided to the other VIP account holders but get 4% additional returns on each trade. A $10,000 bonus is offered on larger deposits.
All the above accounts benefit from access to all instrument types--Boundary, High/Low, Touch, 60 seconds and have the ability to trade Currencies, Commodities, Indexes, and Shares. They also have free Access to OptionsXO learning center, free trading support from market analysts and experts as well as 24 hour support and assistance.
The minimum amount of money that can be invested on a single option is $25; the maximum amount that can be invested on a single option is $10,000. Profits can reach as high as 87%.
Standard trading accounts are activated upon completion of the registration process and investors can begin trading after successfully depositing the amount due. However, VIP account holders must contact OptionsXO’s support desk after making the deposit to get their accounts upgraded. We discovered during this OptionsXO review that this process does require some time, so traders who are eager to get started should know about it in advance.
Unfortunately, when doing this OptionsXO review, there was no demo account offered.
OptionsXO offers the standard types of trading options.
In addition, they have recently introduced what they call high-yield options that offer traders more opportunities to increase profits. The rate of return for each high-yield option ranges between 200%-360%.
There are three high-yield option instruments available: Above/Below, High-Yield Touch, High-Yield Boundary. In order to trade any of the high-yield options, traders can go to the OptionsXO trading platform and click on the type of instrument they would like to trade-- High/Low, Touch or Boundary. Under each instrument type, there is an additional category for the high-yield option. Full instruction for accessing the high-yield options are clearly detailed on the site.
An interesting feature offered by OptionsXO is their Early Closure option which enables investors to close a position ahead of the expiry of the contract. Their Double-Up provision allows traders to double their initial investment and increase their profitability up to two times. Equally intriguing is the brokerage’s Rollover feature whereby investors can extend the option’s expiry time to the next available expiry time, if they expect to incur a loss at the first schedule expiry, but can hope for a profit by the next expiry time. An option can be rolled over only once.
The full list of available assets is provided and a click on the Expiry Calculation tab brings up the rate of expiry of each category of assets in the OptionsXO trading platform.
OptionsXO offers a long list of instructional articles that will enhance the trading of both new traders and those with years of experience under their belt. There is also a selection of interesting videos on various financial topics for both beginners and advanced traders.
Their ebook includes topics such as Traders' psychology and behavior, Essential concepts and terms, Tips for a successful trading and more.
An economic calendar is also provided.
OptionsXO posts both a daily and weekly market analysis. The ‘success stories’ use the real names and locations of the traders. Unfortunately, the last story posted was from 2012.
The minimum deposit to fund an account is $200. The list that can be found on the Banking page and include credit and debit cards, wire transfers MoneyBookers, CashU and UKash.
In order to withdraw funds from an account, a withdrawal request form must be filled out. Withdrawal requests are processed back to the initial form of deposit. Certain withdrawals incur a $25 fee.
When doing this review, OptionsXO was offering two special promotions. Anyone depositing $6,000 or more is entitled to the new Apple Watch. In addition, new clients have the opportunity for a significant boost to their accounts of an additional 50% with a first-time deposit.
Traders can earn up to $500 when they invite a friend to trade at OptionsXO through their Refer a Friend program. When referring a friend who opens a live account and makes a deposit, the trader will receive 10% of the amount of the friend’s first deposit. The amount of the bonus cannot surpass $500.
OptionsXO also offers an enticing Introducing Broker (IB) program to clients from all over the world that benefits both sides of agreement. By introducing clients who are already trading or are interested in beginning to trade binary options to OptionsXO, IBs can earn attractive commissions.
Traders can contact an OptionsXO representative by phone to any of their 12 international locations. Languages include English, French, Russian, Spanish and Arabic. Email support is also available and chat can be accessed from almost any page of the site. Support is available 24/6.
Although OptionsXO only came online in 2012, it has managed to carve a foothold in the competitive binary trading industry. It has proven itself by providing its clients with several unique tools that go to make a trader’s life easier including an outstanding team of over 200 analysts.
- High Payout Ratio
- High Welcome Bonuses
- Top Quality Team
- High Fees for Withdrawals
- No Demo Account
Review info: OptionsXO
Review Date: 2016-10-15
Rating : 4.5
Reviewed By : Sara Patterson