As in any other field, binary options trading also attract its share of companies which are frauds and scams. Ultimately, you will have to exercise your own judgment and discretion to decide whether it is safe to trade with a particular broker or not. TraderXP is one of the pioneers in the field of binary options trading. It has been operating since 2009.
A search of the internet will get you mixed results. While there are a few complaints regarding TraderXP which claim that there is a TraderXP Scam, many other users have posted positive comments. Examine the facts before you decide for yourself.
Why is a TraderXP Scam said to exist?
Consider the following facts regarding TraderXP Scam:
- Some comments claim that they have incurred heavy losses by trading with TraderXP.
- Some other users point out that withdrawal is very difficult at TraderXP. You have to submit several documents before you can withdraw your profits.
- You can also find some complaints where it is stated that TraderXP has set such conditions on withdrawal of bonus that it is virtually impossible to meet. For example, you have to trade seven times the volume of your original deposit plus bonus before you can withdraw this profit. This implies a huge investment which may not be possible.
- Finally, some claim that there is a TraderXP Scam on miscellaneous grounds. These include the inadequacy of the glossary, the inefficiency of the support and insufficiency of the information.
A search of the internet will assist you in finding the above and similar other complaints. So, you need to decide whether you avoid TraderXP or if you will be losing the chance at a profitable trade by doing this.
The true facts about TraderXP Scam
If you make your decision on the basis of the complaints alone, you will be making a grave error. There are several comments and reviews which speak highly of TraderXP Trading experience. Consider the following facts:
- While TraderXP can deliver a return of 75% or more, all binary options trading carry the risk of loss with it. You should invest small amounts in carefully selected assets to minimize the risk. Even if your trade ends up out of money, TraderXP offers a return of up to 10%.
- The first time that you withdraw from your TraderXP account, you do have to submit a number of documents. However, TraderXP is not the only binary options trader who does this. This is necessary for the security of your money. TraderXP does not require you to submit these documents more than once.
- Every broker has a minimum amount to be traded before you can withdraw the bonus. If you do not want to abide by this condition, simply do not claim the bonus when trading.
- Losses are incurred when you rush in blindly. Take your time to learn the ropes, analyze the market and weigh the risks before you invest. Many users have commented upon the efficiency of the support staff at TraderXP.