Established in 2008, XPMarkets is one of the old guard in the binary options industry. Part of the UK group, XP Markets Ltd., was established in 2000 and the binary options broker is powered by Tradologic’s trading software. With a CV like this there is a lot to expect.
Let’s start with first impressions. The home page looks open and well arranged. There is something that is slightly off and this seems to be a trend nowadays, although it’s not exclusive to XPMarkets. It is the fact that the first things you see are the “Open (an account) Now” and the commanding “Trade Now!” Much preferred would have been a guide or tutorial of some sort, which could be more beneficial to someone who is not familiar with binary options.
Putting advertising aside, you can follow the instructions (there is the option of a free demo account) and we can see the trading platform. The interface looks clear and simplified and it is very easy to use. Something that we can expect from a Tradologic platform, which may help traders focus on analyzing the market rather than struggling with the software. The Close, Extend and AutoTrade trading tools are also enabled.
Another thing traders will be happy about is the extensive asset list. Core commodities, including sugar, wheat and palladium plus those of the MCX. A wide array of currencies is in the mix as well, as well as bitcoin and litecoin. The leading world indices, of course, and also a huge number of stocks.
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As expected, there are 5 option types that will suit most trading styles. Digital options expire every 10, 20 or 60 minutes, while long-term options are designated for six months time.
Payouts vary between 67% and 80%, depending on the asset. Turbo options are available in 1, 2 and 5 minutes and payouts vary between 67% and 76%. Touch options expire every 15 minutes for the more liquid assets and 30 minutes for the rest, having payouts of 120% and 140%. One touch and range options expire every 30 minutes with payouts of 60% and 80%, respectively.
Training and educational materials, unfortunately, are non-existent. There are basic descriptions of what the option types are and how to trade them, but they are neither advertised nor really useful.
Overall, XPMarkets seems to be a broker of contrasts. On the one hand, it appears to be a paradise for traders – a complete asset list complemented by a comprehensive trading framework. On the other hand, their offering lacks some considerable features compared to others in the markets. From such a veteran broker we could expect a full binary option package.