OxMarkets Binary Options Broker Review
If you are in search of a regulated SpotOption broker who offers awesome promotions, fee-free withdrawals, lots of tools and trading features, and numerous types of trades, then OxMarkets is one you will definitely want to look into.
This is a regulated binary options broker operated by a Cyprus-based company called Ox Capital Markets Ltd. CySEC oversees their services under license #274/15. Sadly this means that they do not accept USA traders, but it does afford you an extra layer of protection if you are trading anywhere else around the globe.
Quick Details About OxMarkets
- Official Website: http://www.oxmarkets.com/
- Regulated by CySEC, license #274/15. Also governed by MiFID
- Account currencies: EUR, GBP, USD, PLN
- Low minimum deposit: $250
- Minimum trade size: $25
- Maximum trade size: $1,500
- Average payout: 90%
- Platform: SpotOption
- USA traders not accepted
- Demo account: Yes
Step 1: Account Creation
If you want to trade on OxMarkets, you can get started by clicking the green “Register Now” button in the upper right corner of the website. This will take you to the registration page. There you can fill out some basic personal information and select your account currency.
Step 2: Funding Your Account
Once you have completed the step above, you will be registered and you will be ready to deposit funds. You may do this through credit or debit card or wire transfer. You can choose from one of four account types:
- Micro: $250-$2,499. Bonus up to 25%.
- Bronze: $2,500-$4,999. Bonus up to 50%.
- Silver: $5,000-$9,999. Bonus up to 100%.
- Gold: $10,000-$25,000. Bonus up to 100%.
What about demo accounts? You need to place a deposit to get access to a practice account, but they are available at all levels. At the Micro level, the demo account is unfortunately restricted to just seven days of use. But at the Bronze level and above, the demo account is unlimited, which is awesome. I highly recommend that you deposit at least $2,500 so that you can take advantage of this feature and practice your strategies before going live. There is no tool for trading which is more essential if you are serious about doing this for a living.
What additional benefits do you get at each account level?
- Micro: You receive introductory lessons and an eBook. You also get a match bonus of up to 25%.
- Bronze: This level includes up to 10 trading signals per day and a bonus of up to 50% of your deposit. You also get a personal account manager.
- Silver: Add in a seven-step training program, webinars, up to 25 signals per day, personal market analysis, and a bonus of up to 100%.
- Gold: At this level you get up to 70 signals per day and higher payouts on winning trades.
It’s worth taking a moment to mention that OxMarkets is great when it comes to promotions! Not only do they offer high match bonuses, but they also give out risk-free trades on a regular basis. You can participate in competitions for a chance to win cash, and the company even mails out real gold bars (up to a kilogram in weight) to traders who meet special turnover requirements!
OxMarkets also excels when it comes to withdrawals. There is a $100 minimum threshold, but you can withdraw as many times as you want in a given month without any fees.
Trading Binary Options on the OxMarkets Trading Platform
If the platform looks familiar when you load it on your desktop or mobile device (Android is available now, iOS is presumably on its way), it is because you have likely used another version of it on a different trading site. OxMarkets is powered by SpotOption, which is the world’s most popular binary options trading platform. It’s easy to use, and OxMarkets has given it a very sophisticated look with the color scheme they have chosen (gold and grey on a black backdrop). 57 assets are available, and you can trade anything from $25 to $1,500. Double up, rollover, and early close are all offered by OxMarkets.
Types of Binary Trades Offered by OxMarkets:
High/Low trades are the most basic type of binary options trades (on the platform, they are simply designated a “Binary”). You pick a direction (“Call” or “Put”) that you believe price will go. If you are right when the trade expires, you win. If you are wrong, you lose.
This is a High/Low trade which has a long expiry time (weeks or months). This has become a much more common type of trade over recent years, but you still won’t find it everywhere.
This is a High/Low trade with a very short expiry time. OxMarkets offers 60, 90, 120, 180, and 300 seconds.
This is a type of trade that allows you to profit off of the relative performance of one stock vs. another. What is cool about it is that you can win even if both stocks are dropping. Yours just needs to outperform the other.
This is probably the most common type of binary option after High/Low trades. You simply say whether you believe that price will hit a given trigger point within the expiry period, and if you are correct, you win.
This is a complex, incremental type of trade which gives you the chance to build up partial profits. If you manage to complete the entire “ladder,” you can win more than 600% on some of the payouts!
Is OxMarkets a Good Broker?
In a word … definitely! OxMarkets is regulated and trustworthy. They have a superbly designed website, a ton of educational materials and trading tools, and great features like demo accounts and free signals available at almost every account tier. On top of that, they offer some really unique and amazing promotions. If you are looking for a broker who is going to knock your socks off, check them out. They have a lot to offer!