OptionsXO has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Addresses: Omni Capital Ltd: Ajeltake Road Ajeltake Island Majuro MH96960 Marshall Islands; Omni Global Solutions SRL: Bucharest Third sector 17 BABA NOVAC street Romania This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.optionsxo.com.
My card was charged twice by OptionsXO on the same day. I had to dispute it with my bank. OptionsXO then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Smooth onboarding|No hidden fees
Cons: Website design could be more modern
The onboarding at OptionsXO was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Portfolio tracking tools|Intuitive for beginners
Cons: No integrated tax optimization|Charting tools need more indicators
Do not believe the bonus offer from OptionsXO. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited from a review site like this one and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Transparent fees|High security standards
Cons: Live chat only during business hours|Cannot customize dashboard fully
I wanted to transfer my portfolio from another broker to OptionsXO. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Real-time alerts|Transparent fees
Cons: Live chat only during business hours
The platform at OptionsXO is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since I opened my account last year of dealing with this, I have had enough.
Pros: Comprehensive tools|Clear documentation|Risk management tools
Cons: Mobile app could be improved|Limited social trading features
I referred a friend to OptionsXO after hearing about them at a conference. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Segregated accounts|No hidden fees|Reliable uptime|Fast support response
Cons: Mobile app could be improved|Currency conversion fee exists
Where do I even begin with OptionsXO? for about five months of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Personal attention|Multi-device support
Cons: Minor UI glitches occasionally|Limited ETF selection