The XTP App was only released on 27 October 2015, but it has already been making waves in the trading community. Some reviewers are supporting it while others say it is a scam. We will be digging through all of the opinions, and bring you the facts.
Disclosure: We might get a commission fee if you sign up through any of our links.
The XTP App by Matt Woodford offers you the ability to do fully automated trades, as well as being able to trade manually. The brokers the XTP App allows you to choose from are trusted, and for non-US traders you should only see EU-regulated brokers on their list. Unlike most other Binary Options auto-traders, you are allowed to pick your broker from a list of trusted brokers, instead of being forced to sign up with whatever broker gets assigned to you.
XTP App Review Summary
- Annoying Browser Pop-Ups: No
- Fake Scarcity Counter: No
- Paid Actor Testimonials: Yes (at least partially)
- Impossible Revenue Gains: No
- Comes Across As Authentic: Yes
- Convincing Proof of Profits: Yes
- Possibility of Being a Scam: 10%
- Price: Free. Have to sign up with one of their brokers.
- Available In: Australia, Canada, Ireland, New Zealand, South Africa, United Kingdom, Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, France, Germany, Greece, Guernsey, Hungary, Italy, Jersey, Luxembourg, Monaco, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, Turkey (possibly more)
What Does The XTP App Offer You?
The XTP App promises to deliver you 80% or better winning trades with full auto-trading or manual signals. Unlike most signal services where you get the software for free, but you are assigned a particular broker to sign up with, the XTP App allows you to pick one of their trusted and regulated brokers (for non-US traders). The user interface is professional and it appears to be well designed, and is easy to use.
Matt Woodford and his team developed this app over the course of a year at Trade Analytics, a start-up based just outside of London, UK. This is important to note, since as Matt points out, it meant that they could develop the XTP app free from interference from brokers. The Trade Analytics team aims to test out the XTP App with a group of 500 people, before they sell it all to the highest bidder. This is of course a well-known exit strategy for start-ups and they are bound to make a success of it if their XTP app continues to perform at an 80% win rate.
XTP App and Dow Jones Focus Group
The XTP App interface is very professional, and it reminds us a lot of the Dow Jones Focus Group interface, and indeed, the trading platform for both of these apps appear to be almost identical. This is not uncommon, as a lot of brokers also use the same platform as the basis for their unique offers. Even if the XTP App and the Dow Jones Focus Group apps appear the same, it does not necessarily mean that they are identical under the hood.
Live Trades With The XTP App
As you will see from the XTP App live trades video above, they're not scared of showing us that it does lose on occasion. And if you're new to Binary Options trading, or any trading, let me tell you that it's a good thing. There is no app that will give you 100% results, anything above 70% is great, and anything above 80% is awesome. You can make some serious money with Binary Options trading with anything above a 70% ITM (In The Money) win rate.
So What's With The Negative XTP App Reviews?
You might have seen some negative reviews on other sites about the XTP app, so who's right? I don't know about you, but in my book results count. I really don't care how phony your marketing might be, if you can show me solid results, that is all that matters at the end of the day. XTPApp.com delivers on their promises by showing 5 live trades, one of which even includes a loss trade. That speaks a lot to their openness and their honestly as far as I'm concerned.
Yes, they used two Fiverr.com actors, which I really wish they wouldn't have done, that was both dumb and unnecessary. It's also entirely possible that the developers had absolutely no idea about what the marketing people put in the promo video, besides the live trading demonstration.
At the end of the day, what would you prefer. A great marketing presentation with no live trades, or a slightly shoddy marketing presentation which includes an 80% win rate with live trades. I'd go with the live trades any day!
XTP App Review Conclusion
We all know that past performance is not an indication of future success when it comes to trading. However, most Binary Options trading signal systems do not even attempt to show you their past performance with a live trading session. I feel that the XTP App deserves some credit for showing us live trading results. I will leave it up to you to decide if you want to add the XTP App to your daily trading, or potentially lose out on what it has to offer.