Is OptionsXO a Scam?

Details


Broker OptionsXO
Website URL www.optionsxo.com
Address Invision House, HITCHIN, Herfordshire, SG4 0TW, England
Support Number +44 2034045709
Minimum 1st Deposit $200
Minimum Trade Amount $25
Payout 80%
Free Demo Account Open Demo
Account Types Mini, Silver, Gold, Platinum, Diamond, VIP Account
Deposit & Withdrawal Methods Credit/Debit Cards, Bank Wire, Skrill (MoneyBookers), CashU, WebMoney, Neteller
Number of Assets 30+
Account Currency USD, EUR, GBP
Overall Score 7/10

OptionsXO Overview

OptionsXO is binary options broker that is based in Cyprus according their website. We did some trading on their platform, acted as a “mystery shopper” and we’re happy to share our findings with fellow online binary traders. We’ll admit that they are doing great work with their services even though they’ve only been on the market since 2012. Their trading platform is well-organized to execute trades and very understandable to maneuver through. One thing that sets OptionsXO apart from other brokers is their platform. They’re operating a Tech-Financial platform, which is has a very clean cut structure.

OptionsXO has been on our check up list for quite some time now, we’ve received many investigation requests so it was about time we looked into this broker’s profile. Keep reading to find out what makes this broker different than other binary option brokers in the industry.

optionsxo trading platform

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OptionsXO Trading

Overall, OptionsXO has a very exciting list of trade types you can place while on the platform. As mentioned, they don’t use the common SpotOptions platform, but choose to use a more innovative platform to distinguish themselves from other players. The Tech-Financials platform is known to offer innovative trading to investors with the highest precision in options pricing. Don’t think that because they only have 30+ assets, they don’t offer great option types either. You actually have seven different kinds of binary option types to choose from like 30 and 60 Second Options, Above or Below, Boundary, High Yield Classic, High And Low, One Touch and One Touch High Yield.

If you have some experience trading binary options, you will obviously find these types very attractive and the platform very enjoyable. Not all brokers offer such a plethora of binary option choices, so OptionsXO does their job very well.

OptionsXO Minimum Deposit

Something the Scam-Rank team doesn’t come across often is a deposit amount below $250. This is a common requirement amongst the best and worst brokers that are in the industry. OptionsXO strays from the trend and offers a minimum deposit of $200! This is known as their Mini account; the smallest account you can open. OptionsXO also has done a remarkable account type setup because the more pricey account types have many additional benefits and higher returns on trades. This is not typical amongst binary options brokers, so customer satisfaction and appreciation are obviously very important to this broker. If you’re an experienced trader, check out their advanced trader perks as you may find large benefits opening a Diamond or VIP account.

 Click here to see OptionsXO trading platform

 OptionsXO Withdrawals

OptionsXO follows common withdrawal policies, as you will be required to provide scanned copies of a valid ID, credit car and utility bill. The minimum withdrawal amount is 100 USD/EUR/GBP and the approval can begin as soon as you fill out a request form on the website. This form is mandatory to assure a trader’s security and to receive earnings from trades. This broker as a various means of payment methods that can be used for deposit or withdrawal procedures such as Credit/Debit Cards, CashU, Moneybookers, Neteller and Bank Transfers. Just a word of advice from our team, always read a broker’s policies when it comes to redeeming your funds, especially if you decided to accept a bonus. Every broker has different requirements and processes regarding withdrawing funds, and you should know ahead of time before signing up.

optionsxo deposit and withdrawal

OptionsXO Comments & Complaints

The Scam-Rank team did uncover a few complaints, but they were a few years back and have been resolved. The online complaints we examined weren’t 100% authentic or were too old to accuse the company. Always remember, this is a “dog eat dog world”, meaning there is competition in the industry. Reviews can be made and posted by competitors to downgrade the company, so it’s best you analyze evidence thoroughly. We can only recommend you to be continuously watchful as you are investing your own well-earned cash in a broker.

 Is OptionsXO Credible?

It’s safe to say that OptionsXO is on the list of brokers that receive their regulation license from the Cyprus Securities and Exchange Commission (CySEC). So any funds that you deposit into the broker’s account will be handled with extreme caution and preciseness. When a broker is regulated by CySEC, money cannot be laundered, used for company expenses or put somewhere else; so don’t worry as your money is safe here. Actually, OptionsXO places its clients’ funds in Barclay’s PLC (London, UK) into segregated accounts.

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 OptionsXO Bonuses

There a number of bonuses offered by OptionsXO according to the account type. One of the first bonuses you can expect is as soon as you sign up. Bonuses vary according to your initial deposit amount and can reach up to 50% for Platinum members. The only one that is not entitled to a welcome bonus is the Mini account since the deposit is only $200.

Always remember, bonuses come with various protocols and you should read the terms prior to accepting one. In the case you would like to redeem your funds, you will have to trade 30 times the amount in order to be approved. Also, they offer a “refer a friend bonus” incentive to all accounts. So anytime you refer a friend to join and they open an account, you’ll earn 10% of their initial deposit. There is a bonus limit of $500 for this referral program, but probably one of the only brokers that gives you a kick back in cash from a referral.

The OptionsXO is very honest and upfront about the bonus policies, so feel free to contact a customer support member to have any of your questions answered.

 Final Words

OptionsXO is known for offering a wide array of trading options such as 30, 60 seconds, long terms and many others, which has attracted many traders to use their services. Because this broker is regulated by CySEC makes it has enticed a large number of online traders as it is a trusted broker.

The payout percentages of OptionsXO are average as compared to other binary options brokers, but at least you know you’ll receive them. There are other brokers who offer higher payouts yet their traders file complaints against them because they were gimmicks. This broker offers many flexible payment options and full meets its website claims.

We highly recommend them as a trustworthy and safe broker for you to sign up with.

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Pros
  • Only $200 Min. Deposit
  • 3 Unique Trading Methods
  • Regulated & Licensed by CySEC
  • Tech-Fin Software
Cons
  • Less than 100 Assets
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