OxMarkets

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OxMarkets (No Binary Options) Review

OxMarkets (No Binary Options)

Broker OxMarkets (No Binary Options)
US Traders Accepted
Company Name Ox Capital Markets Ltd.
Headquarters Limassol, Cyprus
Regulation CySEC (license #274/15)
Max Payout 90%
Out-of-Money Reward 0%
Trading Platform SpotOption
Early Closure
Deposit Options Credit/debit cards, wire transfer
Deposit Currencies Euro, Great Britain pound, US dollar
Minimum Deposit $250
Minimum Trade $25
Maximum Trade $1,500
Online Since 2020
Trading Instruments Currencies, stocks, commodities, indices
Number of Trading Instruments 57
Binary Option Types High/Low, Pairs, Long Term, 60 Seconds, One Touch, Ladder
Customer Support Types Web form, email, telephone, live chat, paper mail
Education Offered Glossary, FAQ, basic how-to pages, eBook, video tutorials, webinars, 7-step trading course
Tools Offered Market updates, personal market analysis, personal account manager, trading signals, double up, rollover, early close
Commission $100 minimum for withdrawals
Languages English, German, Italian, Polish, Spanish
Demo Account Yes, 7 days only at the Micro level, unlimited at any higher level

OxMarkets no longer offers binary brokerage activities. The review below is presented for the archiving purposes.

Looking for a standout broker that offers excellent features and an innovative trading experience? OxMarkets definitely is not your run-of-the-mill binary options broker. They are a SpotOption white label broker, but they have taken great strides to ensure that they are offering unique benefits you are not going to find just anywhere.

Los mejores corredores de opciones binarias 2020:
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    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    Broker honesto!

The website is operated by a company called Ox Capital Markets Ltd., which is based in Limassol, Cyprus. The company is regulated by CySEC under license #274/15. They are also governed by MiFID, so that gives you two layers of protection through government oversight. As a CySEC-regulated broker, they unfortunately do not accept customers from the USA, but they are open to traders from elsewhere around the world.

Getting Started on OxMarkets

OxMarkets offers a number of different account sizes. When you register and deposit to open a live trading account, you also automatically receive access to a demo account (which is awesome). Here are the account types you can choose from:

At the Micro level, you only get a few basic benefits. You get access to the eBook. You also get an introductory lesson on the trading platform (which is SpotOption), and you get a free demo account for 7 days.

While that is not a lot, it is comparable to what you could expect elsewhere, and a lot of great benefits kick in at the next level, Bronze. At this level, you get free unlimited access to the demo account for as long as you need it. This is fantastic! There are not many brokers that offer unlimited demo testing (and there should be). You also get up to 10 trading signals daily, a personal account manager, and the chance to participate in other promotions.

At the Silver level, you get to add in a 7-step trading course, webinars, up to 25 trading signals per day, and personal market analysis. At the Gold tier, you can get up to 70 trading signals per day and higher payouts on winning trades. Parenthetically, payouts for trades are quite high across the board on this website—probably because there are no out-of-money rewards for losing trades.

One exciting thing about OxMarkets is that they run an interesting promotion – you can also qualify for regular risk-free trades. The zero-risk trades entitle binary traders to get their money back on a number of trades depending on the deposit size. This could be a nice feature if you happen to incur a streak of losses in your trading.

What about deposits and withdrawals? Only a couple of methods are available (credit and debit card or wire transfer), and only several currencies (Euro, US Dollar, or British Pound). There are no fees for depositing or withdrawing, and no limits to how many times you can withdraw in a month. The only restriction is a $100 minimum withdrawal threshold (the minimum deposit amount is $250).

Trading on OxMarkets

As previously mentioned, the platform is SpotOption, which is the most popular binary options trading software in the world. If you have used it on another trading site, you should be familiar with how it works. It is very easy to use, and the version that OxMarkets has created looks very polished (for that matter, the whole website is beautifully designed, easy to navigate, and provides all the information you could want).

You can trade on your desktop or laptop or on your Android device (I was unable to locate an app for iOS devices). The company mentions that there are over 200 assets to trade, but they do not appear to all be available yet. As of right now, the asset index lists 57. Types of trades include High/Low, Pairs, Long Term, 60 Seconds, One Touch, and Ladder. The minimum trade size for most types of trades is $25. The maximum for High/Low trades is $1,500 (lower for certain other trade types).

So there is plenty of flexibility and versatility when it comes to trading. OxMarkets also mentions Forex and CFD trading, though I did not find these on the platform. While trading, you can use early close to exit a position before the expiry time. You can also stay in longer and wager more using rollover and double up.

Trading Tools, Educational Resources, and Customer Service

There are a lot of educational resources and trading tools offered by OxMarkets. At the highest level, you get access to a glossary, FAQ, basic how-to pages, an eBook, video tutorials, the 7-step trading course, and the webinars. There are also other market tools to help you, like market updates, personal market analysis, an account manager, and those trading signals discussed in the section on account types. Most brokers do not offer free trading signals, especially at the second tier! So this is excellent, assuming the signals deliver.

Customer support can be reached through web form, email, telephone, live chat, or paper mail. I was a little discouraged that no one was there to answer me on live chat. It was a weekday during standard market hours. This is one area where I am a little concerned about OxMarkets, but to be fair, their chat desk didn’t just leave me indefinitely on an empty line. It directed me to leave my email address. In theory, support is available 24/5.

Conclusion: An Exciting and Unique Broker

While OxMarkets does have some drawbacks (the unstaffed chat desk, the missing iOS app for mobile trading, and the $100 minimum withdrawal threshold), on the whole, what they are offering is exciting. Their resources, promotions, and features are great, and their entire website is very nicely designed. Just looking at it, you can tell that this is a company that is focused on quality. The fact that they are regulated backs that up. For traders outside the USA looking for a next-tier binary options broker, OxMarkets may be the way to go.

Interview

You can also read our interview with a manager from OxMarkets, which we have done in December 2020.

7 Binary Options

UPDATE (01.09.2020):

OXmarkets has shut down their operations.

We recommend choosing one of our top binary option brokers instead:

Min. Invest Min. Deposit Max. Returns
All brokers >>
Min. Invest Min. Deposit Max. Returns

Try also Binary Option Robot if you are looking for automated binary trading.

Old Review:

OXmarkets has designed a platform that offers a multitude of different packages to fit every type of trader in an effort to attract as many users as possible. During our OXmarket review, we were pleased to discover that several options available which is outstanding. However, only the Gold account listed more specific information. We needed to reach out to customer support to supply us with more specifics on the remaining accounts.

According to OXmarkets customer service team, clients can get any necessary information that pertains to their particular account selection with their account representative. The website is being upgraded at this time, according to the specialists. However, we took this to be a bit cold and unprofessional since the website does not provide all the pertinent information to potential binary traders who might be looking to sign up for this platform. This also puts the user in the position of having to make personal contact to obtain information, which may be off putting for a lot of potential traders.

Basic information:

Online since: 2020
Jurisdiction: Cyprus
Software: SpotOptions
Max Returns: 91%
Minimum Deposit: $250
Minimum Investment: $5
Maximum Investment: $1500
Currencies: USD, EUR, GBP, PLN
Mobile: Yes
Countries: All nations excl. USA, Japan, Belgium, Israel, Cypros

– Multiple languages available
– Minimum deposit of $250 required for trades
– Superior customer service
– Wide selection of trade options

– Does not accept traders from US

7 Binary Options Rating:

According to OXmarkets customer support, they offer 4 account tiers, each with different deposit requirements.

Micro account

Minimum deposit of $250

Silver account

Minimum deposit of $1,000

Gold account

Minimum deposit of $2,500

VIP account

Minimum deposit of $10,000

The minimum deposit for making trades is the standard amount of $250, as with the majority of binary trading platforms.

OXmarkets Trading software

Our OXmarkets review revealed that they utilize the SpotOption platform like binary option robot, which is by far the most popular in the binary options trade market industry. However, despite the many great features of this time, they do not offer a mobile version nor a mobile app. We feel this would be an outstanding feature as more and more traders prefer to trade via their smartphones and tablets.

Overall, the website is very well designed. However, we found some serious issues with navigating throughout the site. According to OXmarkets customer service they are working on upgrading their system in the future. We feel that there are better solutions available without having to make an overall upgrade. The broker claims that they provide binary options signals as well, but we have the suspicion that this is only offered on the more expensive accounts.

Traders can choose from indices (19), stocks (19), currencies (12 pairs) and commodities (7). As with most SpotOption platforms, there are a variety of trading options such as the standard high/low options, pairs, 60seconds, and one touch options as well as ladders and long-term options. Expiry times are 7 days, 1 hr, 10 min, 15 min and 60 sec.

OXmarkets Support information

We found the customer service team to be extremely courteous and informative. The only issue we experienced during our OXmarkets review is that we had to contact the support team in to find information that we feel should be automatically provided on the website itself. Customer service can be reached through email, online submissions form, and live chat. Customers who reside in Spain, Italy, the UK, Germany and Cyprus can reach the support team via phone. As an FYI, the preferred language for this platform is English.

The website can be adapted to the following language: English, German, Polish, Spanish, Vietnamese and Hungarian. However, as previously stated, the navigation system leaves a lot to be desired. Switching between languages is not always successful at is seems and quite often the languages get mixed up on this site. Hopefully this issue will be resolved in their future upgrade to their system.

As with many other binary options brokers, OXmarkets provides a variety of resource and educational materials for their traders. Some of them are inconvenient, yet practical, ideas, while others are written materials. A plus is that the written articles are offered in the aforementioned languages. The broker claims that they provide expert market analysis 24 hours a day, 5 days a week along with binary trading signals, but as we do not have information about the specific trading accounts, we cannot verify if they are available for all traders.

OXmarkets Banking and company information

Since OXmarkets is operated and owned by OX Capital Markets Ltd, Cyprus, they are regulated by CySEC under license #274/15.

One of the main concerns of traders in general is banking. During our OXmarkets review, we discovered that this platform only accepts withdrawals and deposits via bank transfer or credit card. Despite the fact that there are images of e-wallet logos such as Neteller, Skrill, et al, on the homepage, we could not find mention of them in the Banking Section.

While there are no fees mentioned anywhere that apply to either deposits or withdrawals with this platform, traders should consider that there may be fees on the part of their banker. OXmarkets offers the option to cancel a withdrawal which we feel is a bonus for traders.

Conclusion

Overall, we found that this platform is beneficial. Their customer service is extremely polite and helpful. There are a few “glitches” with the website that we would like to see resolved, as well as the discrepancies with the payment types offered. Also, we would like to see them offer more detailed information on the specific account types. However, we found OXMarkets to be a reliable binary trading platform.

Additional information

Customer Service: Live Chat / Email: [email protected]
Languages: English, Spanish, German, Italian, Vietnamese, Polish
Trading Options: High / Low, One Touch, 60seconds, Long Term, Pair Options, Ladder Options
Early close: Yes
Expiry Times: 60 sec, 15 min, 1 hr, End of Week
Deposits and Withdrawals: Visa, Mastercard, Bank Wire, Diners Club, Maestro, Visa Electron
Withdrawal Time: 1 – 3 day
Demo account: Yes

Los mejores corredores de opciones binarias 2020:
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    Binarium

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    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
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