TraderXP is one of the brokers that desperately try to look like a reliable broker. But sometimes worst binary options brokers do not succeed and for such reasons we were able to spot the binary options scam. So fasten your seatbelt, and read the full TraderXP Scam Review!
Min. Deposit: $200 Demo: No
Platform: TraderXP Bonus: No
Regulation: N/A US Clients: NoDO NOT SIGN UP! Read full TraderXP Scam Review and find out what is waiting for you. SCAM DETECTED!
TraderXP Scam Review: About the Company
The first thing that gives a scam impression is that the information about the broker is close to impossible to find. There is no info on who is the owner of the TraderXP on the website and binary options trading platform.
Honest TraderXP Scam Review found out that this broker is claimed to be located in Cyprus. But as a usual practice of the scams – it probably has a postal address there and nothing more. Most of the Cyprus-located binary options brokers are regulated by the CySEC, but not the TraderXP. The Review has requested an information about regulations of the broker from CySEC and received an answer. The answer was that this scam has no permission to provide investment and ancillary services. Also, the company was never authorized by the commission.
TraderXP Accounts Review
This scam broker claims to allow you to choose one of three account types, depending on your deposit amount. The review suspects that by such offer the broker tries to get as much money from you as it can, since the basic account does not give you much. Probably you would like to get better package by making bigger deposit, but do not forget that this is a scam broker.
- Trader account
This basic account is provided to the users that deposit from $200 to $999. The account offer does not include much, except from daily and weekly market news, “advanced trading platform” and educational pack. It has to be said, that educational pack is just a set of videos that explain basically nothing, so be aware. Also the scam claims to offer up to 30% bonus on the deposits on this account.
This is the more advanced account type offered by the scam broker. It is available for users which deposit between $1,000 and $4,999. The package extends the one from trader account by risk-free trade and trading strategy. Also, it offers expedited withdrawals, money management training and personal account manager. The manager is always not there, so do not be fooled by such offer.
The account made specially for those who are willing to risk deposits from $5,000 with the scam broker. Apart from the all features of the executive account, you will get VIP Academy Membership, 3 strategies, 5 risk-free trades and trading analysis by scam professional.
The Binary Options Hub does not recommend you to make any deposits with scam brokers and advises you to stay away from them.
TraderXP Trading Conditions
A lot of scam brokers do not offer great variety of option types, since their core of the business is to make you lose money and not to provide you with good services. Honest TraderXP Scam Reviews found out four main types of binary options available at the scam broker:
- Binary Options
This is a standard binary options trading type. All you have to do – is predict the price movement direction in the next 15, 30, 45 minutes or 1 and 2 hours and get your payout. The average payouts are 70%, but good luck in getting them from the scam.
- 60 Seconds
This is a sub-type of the Binary Options, which has other timeframes. So, you just do the same predictions as in Binary Options but your timeframe should be selected between 60 seconds, 90 seconds, 120 seconds.
- One Touch
In this type of binary options you are required to predict whether the price of the instrument touches the particular price level or not. The promised payout is around 350% but the prediction has to be made for the next 6 hours.
- Option Builder
This is a newest binary options type and at the time of the review, the scam broker was the first to offer something like this. In this binary options type, you have can select your own timeframes and create your own portfolios. You even can use performance binary options, where you decide which instrument will perform better. But what it worth if the broker is a scam?
TraderXP Trading Platform
The Binary Options Hub found out that the scam is using it’s own platform called, not surprisingly, TraderXP. The platform is a bit similar to our favourite SpotOption and does not require long adjustment process. There are also possibilities to zoom into the big graph and to open up to 6 instruments in one window. The order execution time is super fast, which is normal, since your money do not go anywhere since you are trading with a scam.
TraderXP Scam Deposits and Withdrawals
Since your deposit is the most important part for the scam broker – they often pay a lot of attention to this process. The TraderXP Scam Review found that you can deposit your money to the scam broker via credit cards, wire transfers and electronic payment systems.
The accepted credit cards are: Visa, MasterCard, Maestro, UK Switch, Solo, Delta.
The electronic payments: Skrill, iDeal, CashU, Nordea.
There is not much of an information about withdrawal options. They can be made via credit card or wire transfer, but Binary Options Hub does not believe that you will ever be able to withdraw your money from the scam.
TraderXP Customer Support
The scam support is available in: English, Russian, Turkish, French, Arabic, Japanese, Spanish, Italian and German. You should be able to contact scam via phone, email or live chat.
The ironic stuff is that Binary Options Hub did not succeed in reaching out the support neither via live chat or email, so be aware.
TraderXP Account Application
The account opening procedure at the scam brokers was always the easy part.
The first step of the process:
Enter your details in the small box on the homepage and click open account.
The box is easy to find, but since Binary Options Hub does not want to involve into dealing with scam brokers – there would be no link to the registration page.
If you really want it – google it.
The second step – enter your personal details:
After you agree with terms and conditions and submit your application – you will be directed to the deposit screen.
There are no requirements on the email or mobile phone verification, you do not even have to input your date of birth, which is not the case with normal brokers.
Honest TraderXP Scam Review Conclusion
The TraderXP tries to look like a normal and reliable binary options broker. It even tries to bring a good platform to people it wants to fool. The problem is that there are too many flaws and it does not require a master to spot a scam. For being unreliable and not even trying to hide it TraderXP Scam Review gives to this scam 1 out of 5 stars.
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