OptionsXO is a UK binary options broker. The company was registered in 2012. The main feature of the broker is that being registered in London it provides services to binary options traders in Eastern Europe.
This is one of the projects of globally known financial corporation YTF Trade Limited. OptionsXO showed a rapid growth over a short period of time and joined the list of trendsetters in the global binary options market.
Deposits and Withdrawals
There are the following deposit/withdrawal options for OptionsXO customers:
- Bank transfer;
- AMERICAN EXPRESS Liberty Reserve, Diners Club, Ukash, Visa, MasterCard cards;
- Skrill and CashU.
Owing to complicated passport verification procedure, transfer of funds to a bank account or credit card may take from 3 to 5 banking days. Online payments are processed much faster and take 1-2 days.
Reliability and Certification
OptionsXO financial activity is monitored and regulated by the Cyprus Securities Exchange Commission (CySEC).
The license from the authoritative regulator and the British “origin” are very strong arguments for the broker’s reliability. Besides, it is worth noting that OptionsXO ensures high level of safety and security of information exchange between its servers and computers (mobile devices) of its customers. For that purpose the company employs 128-bit SSL encoding.
The company is widely using segregated accounts to protect traders’ assets. They are registered at one of the broker’s strategic partners – London-based Barclays Bank.
Considering all the above factors, OptionsXO can be certainly ranked among the most reliable binary options brokers in the world.
Bonuses and Promotions
OptionsXO, like the majority of UK brokers, does not offer a variety of bonus programs. Properly speaking the company is offering no bonuses to its customers at all.
A 10% refund for unprofitable trades could hardly be regarded as a bonus. However, conditions of this refund are very sophisticated. They are available on the broker official website. In our view, this is more like a loyalty program.
Trading Accounts and Options Types
OptionsXO is offering several types of live trading accounts to its customers. The main but not the only difference is the minimum deposit size:
- Mini Account. Deposit from $100 USD;
- Silver – from $2 000 USD;
- Gold – from $5 000 USD;
- Platinum – from $10 000 USD.
One more big difference is additional profit percents. Starting from silver account it is 2%, 3% and 4% respectively.
Other parameters of accounts are identical, which is somewhat surprising and brings a sacramental question “Why to pay more?”.
The company customers, irrespective of a trading account type, can trade three types of options:
The choice of underlying assets is quite modest as well:
- Stocks – 8;
- Currency pairs – 16;
- Commodities – 3;
- Indices – 12.
OptionsXO is offering its customers to trade on TechFinancials trading platform. It is hardly considered wide-spread. At the same time, it would be incorrect to call it a failure. This is rather powerful software with a number of unique parameters, particularly the patented pricing system. Thanks to this system, TechFinancials platform is one of the fastest trading platforms. Using the new technology, the broker can provide traders with the most accurate real-time quotes.
The platform is web based and can combine different binary options, which is also an advantage.
This is a multilingual platform supporting 13 languages.
Customers have 24/7 access to OptionsXO’s support service. They can contact support representatives by phone or email. Besides, support services are available in online mode through the live chat on the company website. Support service languages are the same as those of the trading platform.
The company is remarkable for its training programs. They contain useful information both for beginner traders and those who want to improve their trading skills.
Pros of Trading with OptionsXO
The broker’s competitive advantages are as follows:
- Safety of financial transactions and customer deposits;
- Low minimum deposit ($100 USD) and minimum traded volume ($10 USD);
- Convenient trading platform.
No demo accounts and poor research and information section are among the company’s cons. Besides, a very modest choice of underlying assets is one more disadvantage.
439912: Very reliable broker. I’ve been working with it for two years. All transactions are accurate. The trading platform is worth particular note. Accuracy and speed of quotes is above praise. Only the complicated procedure of new customer identification spoils the general impression a bit.
John Cerva: It’s a UK broker but the accuracy of quotes is “Swiss”. On the whole the broker is very reliable. I have no complaints over a year of working with OptionsXO and recommend the broker to all.
The company is unique. It is unique because of being contradictory. It is offering a modest choice of options and assets along with most powerful information security programs and highly dynamic trading platform.
The great choice of languages, unusual for binary option brokers, should indicate the company’s expansion policy but relatively weak educational and openly weak research and information sections seriously deter the expansion, even if it was in OptionsXO founders’ plans. Anyway this broker holds a prominent place among modern brokerage companies.