Best Binary Broker 2020!
Perfect for Beginners!
Free Trading Education! Free Demo Acc!
Get Your Sign-up Bonus Now:
This Broker is Out of Business!
OxMarkets was a European licensed binary options broker that opened in 2020. Owned by Ox Capital Markets Ltd, they are located at 67 Spyrou Kyprianou, Samos Center 2nd Floor, Office 201, Germasogeia 4042, Limassol, Cyprus. Their email address is [email protected], and their Cyprus phone number is: +357 250 00 198, from the United Kingdom: +44 20 351 4993 . For common broker complaints read this.
Investors at OxMarkets use the popular SpotOption trading software which is very user friendly. The binary trading software has over 200 assets for trading on. It has many types of binary options including; 60, 90, 120, 180 & 300 second options, pairs, one touch, high low, and ladders options.
They also offer binary options on commodities, including Gold, Silver, Coffee, Corn, & Wheat. Forex traders will find binary options on all the majors and some of the minors including the Singapore Dollar, the Rand, the Turkish Lira, and Russian Ruble. OX trading platform is available in English, Italian, Russian, German and Arabic.
The minimum deposit for a new Forex trading accounts is only $250.
When the Scam Broker Investigator reviews a Forex / CFD broker to determine if they are a scam broker or a legitimate broker, we want to know if a regulator like the CySEC in Cyprus gave them a license and they fall under the MIFId rules in Europe. Are they registered with the FCA in England or ASIC in Australia.
OxMarkets is licensed and regulated in Cyprus by CySEC with license number 274/15. The benefit of choosing a broker like OxMarkets is that since they are regulated, if you have a complaint, you can just go here, fill in the form, and it goes directly to their regulator CySEC. Additionally, they are a member of the Investment Compensation Fund, which protects traders account for up to €20,000 in the event that the broker becomes insolvent.
Click here to see the list of the best licensed Forex brokers.
What was your experience trading with OxMarkets? Please share your review in the comments below.
Ox Markets Review
CySEC regulation ensures that OXMarkets complies with all the regulations governing the safe and secure handling of clients’ funds. CySEC has a robust trading platform and a broad range of options to trade the markets, but the lack of bonuses, demo accounts, and the comparatively reduced payouts are a bit of a drawback when compared to other competing brokers.
What To Expect From OXMarkets Trading
Binary options trading is one of the more exotic trading concepts that have generated a substantial amount of confusion among traditional investors and modern-day traders. While some conventional traders believe binary options trading to be an alternate form of gambling and betting, binary options brokers promote binary options trading as an integral aspect of the financial markets. However, from what we have seen, most binary options brokers often stick to a single product or service and rarely offer both binary options and FX trading under a single roof.
OXMarkets offers the much-needed flexibility to traders by combining both FX and binary options trading to provide a comprehensive range of financial products to its clients. OXMarkets may be considered as one of the truly reliable and authentic binary options brokers that have created an investor-friendly brokerage service for traders from different parts of the world. Even though the broker may enjoy a positive reputation in the industry, we take it upon ourselves to review OXMarkets thoroughly to ensure that they are not a scam broker. We aim to find out all the broker information related to fees, regulatory compliance, trading aspects, and financial products offered by the company.
Best Binary Broker 2020!
Perfect for Beginners!
Free Trading Education! Free Demo Acc!
Get Your Sign-up Bonus Now:
OXMarkets Regulatory Compliance & Company Information
Traders should be elated by the fact that OXMarkets is a regulated financial brokerage that has its base of operations in the EU under the European Markets in Financial Instruments Derivatives (MiFID). OXMarkets is located in Limassol, Cyprus, and is registered with the Cyprus Securities and Exchanges Commission (CySEC) under the OX Capital Markets Ltd. brand name since 2020. The CySEC is an EU-approved regulatory agency that is responsible for regulating all financial companies domiciled in Cyprus through a harmonised regulatory framework issued by the collective of the EU member states.
All brokers operating in the Cyprus through their CySEC license is allowed to offer their services to all 31 member states of the EU through the European Economic Area initiative. Therefore, it is imperative for the CySEC to adhere to all existing laws of the European Union while issuing licenses to binary options trading companies. In the event of a broker default, investors are protected through the Investor Compensation Fund (ICF) that provides an assurance of up to €20,000 if the broker is rendered bankrupt or insolvent. Hence, the CySEC is indeed a top regulatory body that follows some of the most stringent regulatory guidelines for ensuring the safe and transparent operation of the European financial markets.
Collection Of OXMarkets Financial Assets
There is no dearth of choice of underlying instruments at OXMarkets, as the broker has provided more than 200 assets for its clients to choose from the global financial markets. The number of underlying assets is indeed representative of the average number of products offered by other competing brokers. For comparison, some of the most advanced binary options brokers may offer more than 10,000 assets, while brokers in the lower end of the spectrum offer around 15 to 20 instruments. Therefore, we are indeed pleased with the choice of tradable assets offered by OXMarkets. You can find the list of all the available instruments offered by the company through our asset list compilation detailed below:
Indices: ATHENS, ASX, DUBAI, SMI, HANG SENG, HANG SENG F, DOLLAR INDEX-SEP16, BOMBAY SE, FTSE MIB F, KUWAIT, MICEX, FTSE 100, FTSE FIBEX, IBEX F, DOW, NASDAQ, RUSSELL 2000, RTS F, S&P 500, SSE180, SHANGHAI COMPOSITE, CSI 300, NIFTY F, ASX F, TADAWUL, TEL AVIV 25, NIKKEI 225, TOPIX 100, TSX 60
Stocks: ANZ BANK, BHP-AU, RIO-AU, WESTPAC, COMMONWEALTH BANK, NATIONAL AUSTRALIA BANK, CK HUTCHISON, HSBC-HK, TENCENT HOLDINGS, TATA MOTORS, S.BANK INDIA, AXIS BANK, TATA STEEL, BP, LLOYDS BANK, BARCLAYS, BRITISH AMERICAN T, VODAFONE, HSBC L, TESCO, RIO TINTO, BANCO SANTANDER, TELEFONICA, UNICREDIT, GAZPROM, SBERBANK, LUKOIL RS, ROSNEFT’, APPLE, ALPHABET Inc C (Google), BAIDU, AMAZON, INTEL, YAHOO, NETFLIX, EBAY, MICROSOFT, GROUPON, F5 NETWORKS, STARBUCKS, FACEBOOK, YANDEX N.V, BLACKBERRY, TWITTER, MICRON, SINA, COCA COLA, EXXON MOBIL, ALCOA, DISNEY, GOLDMAN SACHS, IBM, JP MORGAN CHASE, PETROBRAS, PFIZER, CATERPILLAR, BANK OF AMERICA, CITIGROUP, AIG, McDONALD’S, LAS VEGAS SANDS, WYNN RESORTS, SONY, BOEING, WAL-MART, GENERAL MOTORS, MASTERCARD, FREEPORT McMORAN, SALESFORCE.COM, NIKE, 3M, TESLA MOTORS, ALIBABA, GENERAL ELECTRIC, JOHNSON & JOHNSON, TOYOTA (US), PROCTER & GAMBLE, FERRARI, VOLVO, NISSAN MOTOR, MAZDA MOTOR, TOSHIBA CORP, SUMITOMO MITSUI, NINTENDO, TEVA.TA
Currency Pairs: USD/JPY, AUD/USD, USD/TRY, USD/CAD, EUR/JPY, USD/RUB, EUR/GBP, EUR/USD, GBP/USD, GBP/RUB, USD/ZAR, NZD/USD, USD/SGD, USD/CHF, EUR/RUB, GBP/JPY, GBP/CHF, AUD/CHF, EUR/CAD, AUD/JPY, CAD/JPY, AUD/NZD, EUR/AUD, GBP/CAD, CAD/CHF, CHF/JPY, NZD/JPY, AUD/CAD, EUR/NZD, EUR/CHF
Commodities: GOLD, SILVER, GOLD/EUR, SUGAR (11) F, COFFEE F, ORANGE F, COTTON F, COCOA F, OIL FUTURE (BRENT)
ETF: FAZ-SHORT BANKS, TNA-LONG X3, TZA-SHORT X3
Pairs: GOLD VS SILVER, CITIGROUP VS JP MORGAN CHASE, APPLE VS AMAZON, ALPHABET vs FACEBOOK, AMAZON VS EBAY, ALPHABET VS BAIDU, FACEBOOK VS TWITTER, RIO-AU VS BHP-AU, NIKKEI VS SUMITOMO MITSUI, MAZDA VS TOSHIBA, NIKKEI 225 VS TOSHIBA, BARCLAYS VS LLOYDS BANK
At OXMarkets, traders are treated to some unique financial instruments such as ETF (Exchange Traded Funds) and Pairs, which are usually not offered by the majority of mainstream binary options brokers. The Pairs options are a unique way of betting on the differences in performances between two stocks or commodities and do not necessarily involve the relevance of the exact stock or commodities prices.
OXMarkets Binary Options Payouts & Costs Involved In Trading
There are different types of binary options products in the market, and OXMarkets provides access to almost all of the popular products through its services portfolio. At OXMarkets, the binary options trading products are broadly classified into six different categories, namely, Binary, Pairs, Long Term, 60 SEC, One Touch and Ladder options. The minimum investment per trade for the short-term, Ladder and one touch options is $5, while the regular binary options products will require an initial investment of $25. The broker should have lowered the minimum investment to $1 to keep up with the industry norms, particularly for the regular binary options products that only require a minimum of 10 cents at other competing brokerages.
The maximum exposure for all positions is limited to $1500, with the short-term options having a maximum investment limit of $100. The maximum investment and risk exposure limits are indeed in line with the industry standards. Although it is an excellent initiative from the broker’s part to minimise the risk to its traders, some traders may feel constricted by the broker’s trading limitations. Larger traders may be able to invest as much as $10,000 per position at other binary options brokers, which may be more suitable for their trading strategies.
Despite the lower payouts, OXMarkets does not provide any refunds for out-of-the-money trades, which may contribute to decreased revenue for traders during extensive periods of drawdowns. Regardless, the overall average ROI and payouts are only slightly smaller than the industry average, which should not be a major concern for most clients. The broker also provides a high ROI for a regulated binary options trading company, and the regulatory status should help ease any concerns among new and existing clients. With respect to the fees of trading, there are no additional costs, but traders must be careful about account inactivity fees that may be charged for accounts that don’t have any trading activities.
OXMarkets Platform Options
Traders that are familiar with the SpotOption trading platform should find it easy to transition into the OXMarkets trading interface. OXMarkets has roped in the services of the incredibly popular third-party SpotOption platform for its binary options traders, which does have one of the most user-friendly interfaces on the entire market. SpotOption is the primary platform of choice for countless binary options trading companies, and the exposure to multiple markets has indeed helped SpotOption to customise its trading features to suit the requirements of modern traders in a better manner.
The OXMarkets trading platform can be accessed through the web browser and is designed as a dedicated web-trading unit that does not require any downloads or installations. All account information and binary options are displayed in the interface that outlines all the aspects of trading, including charts, potential payouts, expiry times, and trade balances. Since SpotOption continues to develop their platform according to new technologies, we can only expect the OXMarkets to continue to provide an excellent trading environment for its traders.
OXMarkets Mobile Trading Platform
OXMarkets fails to deliver on its promises to its mobile users, as there are no dedicated OXMarkets mobile apps for iOS, Android, Windows, or any other mobile users. Smartphone and tablet traders must use the SpotOption web trader interface for their mobile trading needs, which can be accessed through the device’s web browser. The only advantage with such a trading option is that SpotOption has created an excellent responsive platform that provides the same convenience and trading features on all types of devices without making any compromises. However, the absence of OXMarkets apps for at least iOS and Android users is a massive drawback for the company.
OXMarkets Minimum Deposit, Withdrawal, & Trading Accounts
Traders can choose from five different trading accounts at OXMarkets that have minimum deposit requirements varying from $500 to $50,000. However, OXmarkets does offer the option of trading the markets by depositing a minimum of $250 for smaller traders, mainly to counter the competition from brokers that offer trading accounts for as low as $200. $250 may still be considered as a substantial investment for smaller traders, particularly in the case of brokers that offer trading accounts for a minimum investment of $1. Regardless, brokers typically ask its clients to deposit a minimum of $250 to provide better opportunities in the market and to enforce better money management strategies to account for the minimum investment of $5 and $25 per trade.
OXMarkets allows its traders to exercise the option of funding accounts and making withdrawals using Bank Wire Transfer or Credit/Debit cards, but the broker additionally supports online payment systems such as Neteller, WebMoney, and Skrill. There is a minimum withdrawal limit of $100 that does not involve any fees, other than the cost of the wire transfer, credit/debit card fees, or fees for online transactions. Due to the excellent regulatory protection offered to traders through the EU regulatory initiatives, OXMarkets has a perfect record of processing all clients’ withdrawals on time.
Traders should never expect any type of promotions or bonuses from regulated binary options brokers. In fact, recent guidelines issued by the CySEC explicitly warn all regulated companies against providing free money to its traders. There is a valid reason behind the outright ban on bonuses; as such types of promotional offers are known to create several issues between the trader and the broker. Brokers usually provide bonuses only on several trading conditions, which actually work against the trader. Therefore, the CySEC has chosen to do away with bonus systems, and OXMarkets is expected to comply with the CySEC on all matters concerning promotions and marketing campaigns. Nevertheless, traders can take advantage of the risk-free trades that are offered to clients according to their account package.
OXMarkets Demo Trading
OXMarkets does not offer any demo account for its binary options accounts, although a demo account is indeed available for Forex accounts. However, binary options traders will need a dedicated binary options demo account to analyse the broker’s platforms and trading products. To ensure that traders get a representative idea of the broker’s trading platform, OXMarkets has granted access to a live platform walkthrough that provides all the information about the platform features but does not allow live trading without opening a real account. OXMarkets is one of the few regulated binary options brokers that do not offer a demo account to its traders.
OXMarkets Customer Service
EU regulation almost guarantees a top-notch customer service experience with OXMarkets, which is aided by the availability of an Ombudsman service and the option to approach higher authorities for any conflicts between the broker and the trader. For any concerns, OXMarkets has facilitated client interaction through online chat, email, phone, or web contact forms, which is currently the standard norm for all brokers. There is, however, a slight concern regarding the efficiency of the customer support team, as they may take their sweet time to respond to any queries from the clients. Nevertheless, you will get a favourable response from the broker, even if it may involve some delays and multiple emails, calls, or messages to the customer care representatives.
OXMarkets Learning Resources & Trading Signals
OXMarkets offers access to a basic account manager, webinars, and risk-free trades for its smaller clients, while larger account holders get access to additional trading resources such as access to a market analyst, one-to-one training, and a seven-step binary options training program. Traders can also make use of the trading signals, but these signals are only offered for larger traders.
- Protection of investments through solid EU regulation under the CySEC.
- Excellent choice of trading products and varied underlying instruments.
- Withdrawals processed on time.
- No extra fees or costs for trading.
- No demo account.
- CySEC regulation bans the broker from providing any bonuses.
- Customer service channels need improvements in response times.
Is OXMarkets A Scam?
OXMarkets is not a scam broker and has a valid regulatory license from CySEC. CySEC is a major regulatory organisation in the EU.
What Is The Minimum Deposit For A Trading Account?
The minimum deposit for a trading account is $250. Traders can open an account by signing up with their personal information and a valid email address.
How Are My Withdrawals Processed?
The broker handles all withdrawals according to the existing AML laws. Traders must verify their identity before initiating a withdrawal request.
OXmarkets Broker Review 2020
This broker is closed.
In this OXmarkets review, we went through the features and tools available on this broker’s platform software. Starting from several types of accounts designed to suit everyone’s preferences to a great knowledge center. OXmarkets is a regulated broker with a user-friendly SpotOption platform, that boasts with a speedy withdrawal process.
Obviously, we start with essential information on features that are usually a trader’s first encounter with the broker platform. After covering all the basic information, we will go over the functionality of the OXmarkets trading platform along with its tools and features, account types and important financial information.
This broker does not offer a Welcome Bonus anymore, due to SySEC regulations.
OXmarkets Broker Account Features Review
As mentioned, OXmarkets Broker offers several trading account types that are easy to set up. This is in addition to a free Demo account. To get started with an OXmarkets Demo account the trader simply needs to fill in the required spaces with basic information. After a successful submission traders are ready to try out the demo account free of charge.
During this OXmarkets review we found that the free Demo account offers practice opportunities with different trading options and future financial strategies. Virtual funds assigned to the free demo account offer the experience of trading on a live account without the worry of losing the investment due to being inexperienced.
Taking the time to trade on an OXmarkets Demo account is a smart move for any binary options trader, regardless of the experience. This allows traders to familiarize themselves with unique features of the platform and trading tools available to create sustainable, profit oriented investment strategies.
It seems that at the time this review was written, it was not possible to open a Demo Account without uploading a proof of Address and a National Identification Document (either an ID card or a Passport).
OX Markets offers a demo account to traders who are registered with them which is available for a limited amount of time with this broker.
OXmarkets Broker Live Accounts
Live accounts each have their own unique set of characteristics that traders choose depending on their skill set or preferences. Minimum deposit amount starts at $250. This Broker has set a minimum amount for a single trade at $5.
All the accounts on the OXmarkets Account types page are laid out in a clear way so that traders can easily see what each account level gets them. Broker accounts and minimum deposit amounts are as follows :
- OX Mikro: minimum deposit amount is $500
- OX Standard: minimum deposit amount is $2 500
- OX Gold: minimum deposit amount is $10 000
- OX Platinum: minimum deposit amount is $25 000
- OX VIP: minimum deposit amount is $50 000
All five OXmarkets Broker account types include:
- Account manager
- Access to webinar
- Risk-free trades
OXmarkets Broker Platinum and VIP Account
These two types of accounts are especially interesting seeing that they include all the available features, differing only in the amount of Higher Payouts. In addition to the features listed above, these trading accounts both include: Access to Market Analyst, 1 to 1 training, Higher Payouts, Executive Account Manager, Happy Hour Entry and a 7 Step Training Programme.
OXmarkets Broker Trading Software features
This OXmarkets broker review found the SpotOption platform very easy to navigate which makes this user-friendly platform extremely easy to trade on. The dashboard itself is very visually appealing, with trading options found on the top of the screen along with asset types. It also features several charts, depending on the number of trades being active at the time. Expiry times, along with the trade amount are also conveniently placed along the top of the menu. Put and Call options can be found very easily on the right side of the dashboard.
OXmarkets broker offers several trading options for traders to use:
OXmarkets Trading Options
- 60 seconds – Expiry times can be set at either 30, 60 or 120 seconds. This seems to be perfect for those ambitious traders that want to take advantage of the high volatility markets
- Pairs – Traders are able to predict whether a certain asset will perform better than its counterpart from the same equity type.
- Long Term – Long Term Binary Options offers the possibility to set up wider expiry times. This is a possibly lucrative strategy for educated traders.
- Ladder – Offers a potential for huge return that has the ability to reach up to 1500%.
According to the Broker’s website, One Touch Options are different from other binary options. They are tradable during times when financial markets are closed. Perhaps more appealing information than that is that it offers significantly higher payouts.
OXmarkets broker also lists additional terms for this tool, stating that the One Touch Options can be purchased on Saturday from 12:00 AM to Sunday 19:00 PM and only in units specified on the site. Similarly, trades are open from Monday 12:00 AM to Friday 17:10 PM.
As far as SpotOption platform availability, this Broker is both web based and downloadable. The software is currently available on desktop and as a mobile version for android and ios.
According to the provided list on this broker’s website, there are more than 200 tradable underlying assets. Assets are grouped into several categories as follows:
In addition to having a variety of options, OXmarkets Broker also features various expiry times ranging from 60 seconds to long term expiry time.
OXmarkets Broker Support Information Review
Educational center on this broker’s website is called a Knowledge Center which groups interesting information such as a Glossary, Economic Calendar and Financial Instruments.
Traders can contact OXmarkets Broker with any and all questions via several means. It is possible to use the live web chat, as well as calling a phone number which is currently based in Cyprus. A Web form is also available as is a customer support via mail.
In creating this OXmarkets review we wanted to test the live web chat option and have found the service offered to be very efficient, professional and fast in providing guidance.
Tip: Trade with reputable and regulated brokers on FX-Advisor.
Best Binary Broker 2020!
Perfect for Beginners!
Free Trading Education! Free Demo Acc!
Get Your Sign-up Bonus Now: