When checking out a new broker there are a few key criteria that you have to look into, and if you are a reasonably intelligent person this should come to you intuitively. For example, is the information presented by a broker, in this case TraderXP updated on a regular basis? Well, it’s very clear to see that in this case they have made a decision to abandon this site and just let it float in the virtual marketplace and leave it for totally clueless people to come in, register, and fund their account.
This is a well-known tactic for businessmen who don’t want to keep investing in their online business but at the same time don’t want to miss an opportunity to catch any stray cat who mistakenly decides to pull out their credit card and invest the $250 they really don’t have.
One would also have to assume there are a few older customers who keep coming back and for some reason keep dumping their hard-earned money into nothing less than a complete sham and fraud.
Moving forward, another important aspect worth looking into before choosing a broker is how stable it is technologically. TraderXP is a total mess with communication errors and downtime messages popping up every minute, probably because they don’t want to pay for the more expensive servers or hire a more professional IT team. To make matters worst, the errors appear in the banking section when people actually think of funding their accounts.
Look, I could probably dig in deeper and find other red flags or ringing bells that shout out loud stay away, but I think TraderXP has done more than enough to ensure its blacklist status and I officially label it a a SCAM BROKER. Don’t be tempted to invest, even if by some unnatural turn of events you mange to fund your account and win, there is NO WAY TO WITHDRAW YOUR MONEY.
This type of broker is also referred to as a deposit only broker, and with good reason. Now, if you were careless enough to fund a trading account, don’t be surprised if you see additional and unapproved charges as this is a signature of fraudulent binary options brokerages and very indicative of how they operate.
Conclusions and Recommendations: Stay away at all costs and don’t even think of pulling out your credit card because TraderXP is a total SCAM and they will steal your money without thinking twice or any hint of guilt or remorse. If you have other opinions let me know about it by adding a comment below.