FXOption Review
FxOption.Com Review | Is It Legit & Safe Or?
Is Fx Option a legit and safe place to trade? Read our review to find out. We cover pros, cons, safety, minimum deposit, withdrawal, and more.
You'll also learn about its pros and cons, how to open an account, and whether it's a safe choice for your trading needs. By the end, you'll have all the information you need to decide if FxOption is the right fit for you.
FxOption Overview
Feature
Details
Official Website
Headquarters
United Kingdom
Founded Year
2001
Product Offered
CFDs, ETFs, Indices, Forex
Minimum Initial Deposit
$5
Trading Fees
No trading fees
Minimum Trade
$0.50
Inactivity Fees
$0
Withdrawal Fees
0%
Supported Currencies
USD, GBP, EUR, BDT, INR, PKR
Customer Support
24/7 Support available
Type of Broker
Non-Advisory/Executionary
Clients Accepted from
170+ Countries
Assets Offered
Stocks, Forex, Crypto
Platforms Available
Download, Mobile
Mobile Compatibility
iOS, Android
Payment Types Accepted
Wire Transfer, Bank Card, Electronic Payment Systems & Crypto in some countries
FX Option is an online trading platform that allows you to trade various financial assets like stocks, forex, cryptocurrencies, and commodities. Founded in 2001, the platform has gained a large following due to its user-friendly interface and a range of trading tools. Whether you're a newbie or a seasoned trader, FX Option aims to offer a trading experience that is both flexible and secure.
How Does FxOption Work?
Opening an Account
First, you need to open an account to start trading on FX Option. The process is simple and involves providing some basic information.
Making a Deposit
After your account is set up, you need to add money to it. This is known as the minimum deposit, and it's a key step before you can start trading.
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Trading Platform Interface
FxOption has a user-friendly interface that displays all the assets you can trade. You'll find various tools and charts to help you make better trading decisions.
Types of Assets
The platform offers a range of assets including stocks, forex, and cryptocurrencies. This variety allows you to diversify your trading portfolio easily.
Making Trades
To make a trade, you pick an asset and decide whether its price will go up or down. If you're correct, you make a profit; if you're wrong, you'll incur a loss.
Withdrawing Funds
When you want to take your money out, you make a withdrawal request. Depending on the payment method, you may pay a small fee.
Tools and Charts
FxOption offers tools like trend lines and indicators. These help you analyze market conditions and make informed trades.
Safety Measures
The platform uses secure technology to keep your information and money safe. This helps to provide a secure trading environment for all users.
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FX Option Minimum Deposit
The Basics
The minimum amount you need to deposit to start trading on FxOption is $5. This makes it accessible for traders who don't want to invest a lot of money right away.
Payment Methods
You can use various payment methods like credit cards, e-wallets, and bank transfers to make your deposit. Each method has its own processing time, but most are instant.
FX Option Minimum Withdrawal
The Basics
The minimum amount you can withdraw from FX Option is $5. If you want to take out less than this, you'll have to talk to customer support.
Maximum Limit
The most money you can withdraw at one time is $1,000,000. This high limit makes the platform suitable for both small and large traders.
FxOption Deposit and Withdrawal Methods
Deposit and Withdrawal
Deposit Methods
You can add money to your FxOption account using a debit or credit card like bKash, Nagad, UPI, Visa, Mastercard, or Maestro. E-wallets such as Skrill, Neteller, and Webmoney are also accepted.
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Withdrawal Methods
To take money out, you can use bank transfers, credit cards, debit cards, or e-wallets. All time you withdraw, it's free.
Pros and Cons of FxOption
Pros
Cons
Low minimum deposit of $5
Fees for subsequent withdrawals
User-friendly interface
Limited assets for some countries
Variety of assets to trade
Secure technology
Free first withdrawal
Unlimited
High maximum withdrawal limit
Unlimited
Multiple deposit and withdrawal options
Yes
Why Trade with FxOption?
Variety of Assets
With more than 500 options like currencies, commodities, indexes, and stocks, FxOption gives you plenty to choose from. This makes it easier to diversify your trading.
Low Minimum Deposit
A small initial deposit of $10 makes it accessible for most traders.
High Profit Potential
You can make up to a 92% profit when trading Options products. This offers a good chance to make more money.
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Account Types
FxOption provides three types of accounts: Demo, Normal, and VIP. This allows you to choose an account that fits your trading style.
Mobile Apps
FxOption has easy-to-use mobile apps for both Android and iOS. You can trade anytime, anywhere.
Web Browser Access
You can also trade using a web browser, adding to the platform's convenience.
Zero Trading Fees
No trading fees means you keep more of your profits. This makes trading more cost-effective.
FxOption Deposit Bonus
No Sign-Up or Welcome Bonus
FxOption does not offer any Sign-Up, Welcome, or no-deposit bonuses for new traders. If you're looking for a platform with a registration bonus, FxOption might not be the right fit.
How to Open an Account with FxOption?
Step 1: Visit the Website
Go to the FxOption website to start the sign-up process. You'll find an option to create a new account.
Step 2: Choose Account Type
Select the type of account you want: Demo, Normal, or VIP. Each type has different features.
Step 3: Fill in Information
Fill in your personal details like name, email, and create a password. You may also need to provide some identity proof.
Step 4: Read and Agree
Read the terms and conditions. Make sure you understand them before you agree.
Step 5: Make a Deposit
Once your account is set up, you need to make a minimum deposit of $10 to start trading. Choose your preferred payment method.
Step 6: Verify Account
You might be asked to verify your account by providing additional documents. This is a safety step.
Step 7: Start Trading
After all these steps, your account should be ready and you can start trading. Use the tools and charts provided to make informed decisions.
Is FxOption Real?
Company History
FxOption is a real trading platform founded in 2001. It has been in the market for several years, gaining a large user base.
The platform is also regulated by financial authorities, adding to its legitimacy. So, it's not a scam but a real trading option for investors.
Experts agree that FxOption is a legitimate trading platform, not a scam. It often ranks among the top online brokers. The best way to know if it's right for you is to try out its main features yourself.
Is FxOption Fake or Scam?
Legitimacy Check
FxOption is not a fake or a scam. It has been around since 2001 and is regulated by financial authorities.
Expert Opinion
Many experts vouch for its legitimacy, and it often ranks high among trusted online brokers. So, you can trade on this platform with confidence.
Does FxOption Pay Money?
Earnings and Withdrawals
Yes, FxOption does pay money when you make profitable trades. You can withdraw your earnings based on the platform's withdrawal rules.
Track Record
The platform has a history of processing withdrawals reliably, adding to its credibility. Therefore, you can trust it to pay out your earnings.
Does FxOption Accept PayPal?
Payment Methods
No, FxOption does not currently accept PayPal for deposits or withdrawals. They do offer other methods like credit cards and e-wallets.
Is FxOption Safe?
Security Measures
Yes, FxOption is considered safe for trading. It uses secure technology to protect your data and funds.
Regulatory Oversight
The platform is also regulated by financial authorities, adding an extra layer of safety for users.
FxOption Trading Platforms
Desktop and Web
FxOption offers a platform that you can access through your computer's web browser. This makes it easy to trade from anywhere.
Mobile Apps
FxOption also has mobile apps for Android and iOS. These apps let you trade on-the-go and keep track of your investments easily.
FxOption Fees (Inactivity & Withdrawal Fees)
Withdrawal Fees
No withdrawal fees.
Inactivity Fees
If your FxOption account has no activity for 90 straight days, a dormant fee of €10 is charged every month. This is something to keep in mind if you plan to take a break from trading.
FxOption supports various currencies for trading and account management. These typically include major currencies like the US Dollar (USD), Euro (EUR), and British Pound (GBP). The choice of currency can be made when you first set up your account. Make sure to pick the currency that works best for you, as it might be hard to change it later.
Tips for New FxOption Traders
1. Start with a Demo Account: Before you put real money on the line, practice with a demo account. It helps you understand how the platform works.
2. Learn Basic Trading Skills: Understand basic terms like "put," "call," and "strike price." Knowing
the basics can help you make better decisions.
3. Set a Budget: Decide how much you are willing to invest and stick to that budget. Don't risk money you can't afford to lose.
4. Research Assets: Before you trade, study the assets you are interested in. Know what factors can affect their prices.
5. Use Technical Analysis: Learn to read charts and understand market trends. This can help you predict price movements.
6. Diversify: Don't put all your money in one asset or trade type. Spread your risk by trading different assets.
7. Keep Emotions in Check: Don't let emotions like greed or fear guide your trading decisions. Stick to your plan and strategy.
8. Keep Learning: The market keeps changing. To stay successful, keep learning new strategies and market trends.
9. Understand Fees and Charges: Know any fees for withdrawals and inactivity. This can help you manage your profits better.
10. Consult Customer Service: If you face any issues, don't hesitate to reach out to FxOption 's customer service. They can guide you through any problems.
These tips can help new traders reduce risks and increase chances of making profits on FxOption .
How to Contact FxOption Customer Service?
Website: Go to https://fxoption.com/ for information and support.
Email: For questions or help, send an email to support@fxoption.com.
Company Address: If you need to send mail, the address is International House, 10 Churchill Way, Cardiff, United Kingdom, CF10 2HE.
Account Options
Feature
Details
Broker Type
Agency-Only Broker
Minimum Deposit
$10
Forex Majors Spread
1:500
Scalping
Yes
Hedging
Yes
Free Demo Account
Yes
Traders From USA
No
Fee Type
Amount / Ratio
Second Withdrawal Fee
2%
Dormant Account Fee
€10 (After 90 days)
Underage Account Fee
€20
Leverage for Non-EU Countries & Traders
Ratio
Standard Crypto CFDs
1:10
Forex
1:1000
Stock CFDs
1:20
Commodities
1:150
ETFs
1:100
Special Crypto CFDs
1:100
Stock Indices
1:150
Trading and Investment Tools
Tool
Available
One Click Trading
Yes
Trade off Charts
Yes
Email Alerts
Yes
Mobile Alerts
Yes
Stop Order
Yes
Market Order
Yes
Trailing Stop Order
Yes
OCO Orders
Yes
Limit Order
Yes
24hr Trading
Yes
Charting Package
Yes
Streaming News Feed
Yesv
FxOption Global Ratings
Platform / Website
Rating
Google Play
4.5/5
UpSkillsWise
4.2/5
SAShares
4.5/5
Binary Options
5/5
FxOption Verdict
In summary, FxOption is a legitimate and regulated trading platform. It offers a wide range of assets, an easy-to-use interface, and various account types. While it doesn't offer a sign-up bonus, its low minimum deposit and diverse trading options make it appealing for both new and experienced traders. However, it's essential to understand the fees and to practice with a demo account before trading with real money. Always remember, trading involves risks and it's important to trade responsibly.
General Risk Warning: The financial products offered by FxOption carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose. Be aware of the risks and trade responsibly.
Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial.
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