TraderXP is a Cyprus based binary options broker using the SpotOption trading platform. Frankly, TraderXP doesn’t offer any exciting features and options, and its returns are not the best either – but see for yourself what you can expect from that broker.

Options Return

The returns of TradeXP are as follows:

• For High/Low options the return for EUR/USD is 73%, for Gold – 70%, and for Oil – 70%.
• For 60 Seconds options, the return is 72% return for EUR/USD and 70% for Gold.
• One Touch options maintain a return rate of 400%.

If you make a deposit of $500 and place uninformed and completely random $25 bets, you’ll break even at a success rate of 57.8% – e.g. you would have to win at least 57.9 out of every 100 games to make a profit. These return rates are relatively low compared to the market standards. Brokers like iOption, for example, offer return of 80% on EUR/USD; the return for the same asset on OneTwoTrade is even higher – 85%.

Bet size & refund

Bet sizes: at TraderXP, you can start betting with as little as $25. The maximum bet amount is $3,000.
Refund: if your option expires out of the money, you may not lose the entire amount you bet: TraderXP offers refund of up to 10% (the refund percentage depends on the type of option).

Option Types

High/Low: these are the most common options traded. With them, you bet on the price direction of a certain asset – in other words, you need to guess whether the price will go up or down. Once you make your prediction and place your bet, you need to wait for the option to expire to see whether you win or lose. The expiry time of these options is 1 hour. 60 Second: that’s a variation of the High/Low option type – with the only difference that the expiry time here is 60 seconds for each option. These can be quite useful if you believe to have a steady insight about the direction of an asset’s value – you can place a series of bets on the said asset and hear that sweet “Ka-ching!” sound (Metaphorically speaking. The site doesn’t have any sounds…).

One Touch options offer you the best returns – about 400% – but there is a reason for that. With this option type, you win of you predict whether the price value of an asset touches a certain level or not. Usually the chance of this happening is slim, hence the big return. If the price reaches the required level, though, you don’t need to wait the option’s expiry time as the bet is settled right away and your winnings are credited to your balance.

The Option Builder is an option type, with which you can set your own risk level and adjust the expiry time of your option, thus fully customizing your trade. I must warn you that the option builder is not suitable for noobs. If you are not familiar with binary option trading and with financial market analysis, I’d recommend you go for a more traditional option type.
Once you buy a certain option, it will appear in your account and then you can take advantage of the Double Up and Rollover features. Double up lets you double your bet – it’s very handy for situations when you’re close to the expiry time of the option and you believe you will win that bet.

With Rollover you get to change the expiry time of an option up to 10 minutes before the initial option expires. To use the Rollover functionality, you need to increase your bet size by 30%.

Deposit and Withdrawal

The minimum deposit on TraderXP is $400 and can be made via credit card, Maestro debit card, wire transfer, Moneybookers/Skrill and the CashU online wallet.
Withdrawals are possible via credit/debit card and bank wire. Once your account is verified, it usually takes up to 72 hours for your cashouts to be approved and the money reaches your account for up to 5 business days. Keep in mind that there is a fee of $25 for wire transfer withdrawals.


TraderXP offers welcome bonuses to customers who open an account and make their first deposit. Depending on the deposit amount, the bonuses range from 15% to 50%. Once the bonus is credited to your account, you would have to wager 20 times the bonus and the deposit amount in order to withdraw the bonus. Given that other brokers – say Banc de Binary for instance – offer first deposit bonuses of up to 100%, I think TraderXP can do better.
The broker also has a referral program, where you can earn a $50 bonus for each friend that you invite to the site (keep in mind that conditions apply).

Overall Impression

If I’m broker shopping and come across TraderXP, I would probably dismiss it right away. The broker doesn’t offer any exciting bonuses and promotions, the return is below the average for the market, and the customer support team only replies to you when they feel like it. Given that there are a gazillion binary option brokers out there, I would simply go for one with better conditions and customer service. Additinal EZ Trader is a good oppertunity. Our EZTrader Test you can read here.

iQ Option

iQ Option is a privately held binary options broker with headquarters in The British Virgin Islands and Cyprus. It uses the most popular binary options platform provided by SpotOption and offers good returns, sign-up bonuses of up to 100% and refunds on losing bets.

Options Return

iQ Option advertises returns ranging from 70% to over 400%, depending on the option type you choose.

• For High/Low options, the return for EUR/USD is 80%, for Gold – 77%, and for Oil – 70%.
• 60 Seconds options offer 70% return for EUR/USD, Gold, and Oil.
• One Touch options are riskier, however they have the biggest return – 400%.

If you make a deposit of $500 and start gambling with EUR/USD bets of $25 each, you will have 195 games before you exhaust your balance. With the same return – 80% – you will need to win more than 55.6 out of every 100 bets in order to generate profit.

With a EUR/USD return of 70%, as is the case with 60 Second options, it will take 130 games to get you broke and a win rate of 58.9% or more will make you profitable. Please note that I’m talking about gambling here – these numbers can be very different if you actually analyze the financial markets and place informed bets.

Bet size & refund

The minimum bet size on iQ Option is $10 and the biggest stake that you can place is $5,000. My advice is to stick to smaller bets, though, as this contributes to your proper money management.
Refund: What I like about In the event your option expires “out of the money”, e.g. you lose your bet, iQ Option will refund 15% of your original investment, thus decreasing the risk and improving your overall payout percentage. Together with 365Trading (Find the full 365Trading Review here: IQ Option is one of the best brokers of the world.

Account types

When registering with iQ Option, you can opt in for one of 3 account types: Starter, Trader, and VIP.
Minimum deposit requirement: For a Starter account, you need to make an initial deposit of $500; the minimum first deposit for a Trader account is $2,000, and for VIP – $5,000.
All three account types grant you access to the broker’s educational resources and you also get an account manager – but what’s interesting is that they all seem to be of different skill levels and expertise. Starter account holders get a “dedicated team member”, those with Trader accounts – an “individual specialist”, and VIP’s get a “professional specialist” for an account manager.

Option Types

High/Low: with this option type you need to guess whether a certain option will close at a value that is either higher or lower of the value at the time of placing the bet – as simple as that. You need to wait for the option to expire in order to find out whether you win or lose.

One Touch: this option type offers the biggest return, over 400%, but there’s a reason for that: it’s the riskiest option type and the chances of winning are way smaller than the ones of other option types. Here, you need to predict whether the value of the option will reach a certain, pre-set level, or not. If the level is reached, the bet is settled immediately and you get your winnings. If the option doesn’t reach the level and expires, you lose the bet.

60 Second: these are High/Low options with expiry of 60 seconds. They are great for maximizing your profit when you are certain of the price movement direction of a certain asset – by placing subsequent 60 Second options, you can easily make loads of money (there’s no guarantee, though, so I’m not liable in case you lose).

Option Builder: that’s the option type designed for the more experienced traders. For Option Builder bets you need to set the expiry date and risk level by yourself – and you can only do that if you understand the basics of binary options trading.

Deposit and Withdrawal

iQ Option is allows payments to and from the site to be made via bank wire, credit/debit cards (VISA, MasterCard, AmEx, Diners Club, Maestro), and the CashU and Moneybookers online wallets. I prefer to pay by VISA because deposits are instant, and it takes just a few business days for the money to reach my credit card account when I make a cashout.
Bear in mind that it takes up to 7 business days for iQ Option to approve and process your withdrawals.


iQ Option offers its new sign-ups a first deposit bonus, however this bonus depends on the amount of your payment – so it is best to contact your account manager to ask for more details. You are only eligible for a bonus if you fund your account with $1,000 or more and the bonus can be up to 100%.

Overall Impression

All in all, iQ Option seems like a sensible choice of binary options broker. Its returns are about average, you can take advantage of bonuses and refunds and the broker is powered by the SpotOption technology, which is one of the best on the market. What I hate about iQ Option is that the live chat customer support is unprofessional, unhelpful and plain rude. Find the complete Reviview here: