This broker is closed. Try trading with HighLow instead.
Our OXmarkets review will introduce this new broker to traders. They claim to be devoted to superb conditions and trading products while operating in a regulated environment. This broker is regulated by CySEC and is still trying to establish themselves on the market.
This regulated broker, due to CySEC’s decision, no longer provides binary options bonuses!
In order to be appealing to as many traders as possible, OXmarket created different packages for different types of traders. During OXmarket review, we realized there are several account types that start with minimum deposit $250. Unfortunately, the only information available on the website was about the Gold account, so we had to reach for customer support that provided us with basic details.
According to them, additional info can be provided during a phone call with their account representatives, as the website is being upgraded. This can be considered a bit unprofessional, because the website doesn’t provide all the necessary information to the potential trader, but implies the necessity of personal contact which may put a client into an unpleasant situation.
According to the customer service, there are 4 types of the accounts available, each with different deposit minimums.
During OXmarkets review, we found out that this broker provides bonuses for its traders. Of course, there are some additional rules on them that must be followed in case the trader accepts the bonus.
During trading, the company will rank the trader’s funds first and then the bonus funds, which means the deposit is traded first. Trading accounts with added bonus cannot be withdrawn until the minimum requirement of 30x turnover is reached, but OXmarkets allows client’s funds to be withdrawn as long as 5x turnover with trading benefits has been reached. Bonus must be used within 60 days. As it can be seen, bonus rules are quite complicated, so make sure to read them carefully in T&C and have written transcript from your manager’s explanation in case something goes wrong as these rules leave space for manipulation.
Minimum deposit is the usual amount of $250.
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OXmarkets review showed that this broker uses SpotOption platform that is among the most popular in the industry. Even though SpotOption is a great platform there is no mentioning of mobile version or mobile app. That would be a great addition to the desktop platform, as more than ever traders prefer to trade via their phones.
The website is well designed, but has serious problems when it comes to navigation. Customer service provided the information that we can expect the upgrade in upcoming time, but there have to be better solutions that ever changing language on the platform. The broker claims to provide signals as well, but there is a high chance they are part of more expensive accounts.
Traders can choose among currencies (12 pairs), indices (19), stocks (19) and commodities (7). As on most SpotOption platforms, there are many types of options that can be traded, starting from traditional high/low options, followed by pairs, long-term, ladders, 60seconds and one touch options.
Expiry times are: 60 sec, 10 min, 15 min, 1 hr, 7 days.
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During our OXmarkets review, the customer support was very friendly and useful. The problem is we had to contact them in the first place, as we couldn’t find all necessary information on the website. User service can be reached via e-mail, live chat, online form or phone (Spain, Cyprus, Italy, United Kingdom, Germany), although it is worth mentioning that the preferred language is English.
The website can be adapted to various languages: English, Hungarian, German, Italian, Polish, Spanish and Vietnamese, but navigation is not as easy as it seems. Switching to another language doesn’t necessarily result in success, as languages get mixed up. We hope to see this issue solved with their upgrade.
Just like many other brokers, OXmarkets provides learning materials available for traders. Many of them are inconvenient and practical video form while others are written articles. The good news is that educational articles are available in listed languages. The broker claims to provide expert market analysis 24/5 accompanied by signals, but as we don’t know details about account types we can’t clearly say that they are available for all traders.
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OXmarkets is owned and operated by OX Capital Markets Ltd, Cyprus. The good news is that this is a broker regulated by CySEC under license number 274/15.
When it comes to banking, it can be one of the main concerns of all traders in general. During OXmarkets review, we found out that this broker provides depositing and withdrawing only via credit cards or bank transfer. Even though on the homepage many e-wallet logos (like Skrill and Neteller) can be found, there is no mention of them on the Banking section.
There are no fees mentioned when it comes do depositing and withdrawing, but traders must count on possible fees by their banks. There is also a possibility of cancelling the withdrawal which is very convenient for the trader.
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