Full Review of TraderXP Binary Options Education
After looking at a string of brokers with disappointing educational resources I was surprised with what I found at TraderXP. In fact, at first glance I was a little overwhelmed because there is just so much to see. I usually have to hunt all over a broker site to find any resources or educational material and most of what I find is completely sales oriented. TraderXP made it very easy to find all of their material, and it is all very useful. One thing to keep in mind is that TraderXP is a SpotOption powered broker so some of what you will find here is no different from any other SpotOption broker.
TraderXP At First Glance
The first thing I noticed was how bright and inviting the website was, it is really well put together. For someone seeking professional information the feeling I got at first glance was very reassuring. TraderXP has links to education and trader resources displayed prominently throughout the site starting with the top navigation links, moving through the feature box at the top of the page and following through all the way down to the bottom navigation links.
All of the standard educational features you find with a SpotOption powered broker were present plus so much more. This broker offers 24/7 support, live chat with coaches, a free traders guide and market reviews. This is nothing different than any other site but it was so much easier to find. These basic features are listed up at the top of the page, in the feature box just under the top navigation and again in the bottom navigation. Again, these features are nothing special or exclusive to TraderXP, they are just easier to find than almost any other site I have reveiwed. I took this as a positive since they seem to be serious about teaching new traders how to use the website and where to find the proper resources.
Among what I call the “standard” educational features were other resources I have seen on other broker sites. One difference between TraderXP and the other brokers is that TraderXP has all the basic features, not just some of them. TraderXP has the basic landing pages describing binary options, the Option Builder and 60 second options. TraderXP also has a standard glossary, FAQ and the 1-2-3 how to trade binary options that all SpotOption binary brokers have.
What Sets Trader Apart From The Rest?
One thing that sets TraderXP apart from other SpotOption brokers, and other brokers in general, is the video portion of the education. Not only is there a short video on how to use the website there is a series of videos on how to trade binary options. Called the “Live Course” these videos are a real plus, especially for beginners, and mesh well with the free E-book trading course. The videos cover the basics of trading as well as risk management and trader psychology. The videos are not an end-all be-all to trader education but they do provide a serious look at how to approach trading seriously. It is too easy for a beginner to start trading without a good foundation; these videos are a great way for newbies to begin building a solid foundation or for a more experienced trader to strengthen theirs. What is also really cool is that the videos are free and require no deposits or even to sign up.
Another part of TraderXP’s educational program that sets it apart from other brokers is the “Expert Opinion” link in the bottom navigation. Most brokers have some form of newsletter, market update or other source of analysis for traders but are usually hidden and can only be accessed with an account. I have even found some market updates that were so out of date as to have no bearing on current market conditions. Not TraderXP. The reviews here are available through the home page to any trader with interest. The review recaps major world events, provides some technical analysis and also lists economic releases scheduled for that day and week. The most important thing, aside from the content, is that when I checked on the review it was for the current week and the current day.
My Final Thoughts On TraderXP’s Trader Resources
I think TraderXP has done a great job with trader education, especially for newbies and beginners. I think they are top notch and at least a step above anything else I have encountered, particularly in the realm of SpotOption powered brokers. The website is easy to use and makes the information easy to get to. Plus, it’s all free. The videos, the ebook, the commentary, the library….all free. Even if you don’t want to use TraderXP as your broker you can still benefit from the excellent job they have done providing entry and intermediate level resources for binary options traders.