Top Binary Options Broker 2020!
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Beginner’s Guide to ExpertOption: Complete Review
ExpertOption has the goal of providing clients with a fully transparent digital trading experience. To achieve this goal, it delivers an intuitive trading platform combined with vast educational materials.
The platform began providing services in 2020 and executes more than 30 million deals every month. So far, more than 9 million accounts have been opened.
ExpertOption makes clients a priority, making customer service its primary value. There are more than 100 account managers, each of which focuses on meeting client needs.
The company also aims to be reliable and simple, making it possible for anyone to start trading. Finally, it aims to deliver the fastest trading via innovative technologies.
ExpertOption at a Glance
|Regulation||Financial Services Authority St. Vincent and the Grenadines (SVGFSA)|
||Yes – $10,000|
|Asset Coverage||CFDs ,Forex, Cryptocurrency, Shares, Commodities, Indices|
|Trading Platforms||Web, Mobile, Desktop Apps|
Opening an Account at ExpertOption
The minimum deposit needed to open an ExpertOption account will vary based on your chosen account type, but the absolute minimum is $50. ExpertOption also has KYC procedures in place to verify your identity to prevent fraud and money laundering.
Most of the time, ExpertOption asks new clients to submit documentation verifying both their identity and address.
Top Binary Options Broker 2020!
Best Choice For Beginners and Middle-Leveled Traders!
Free Demo Account!
Free Trading Education!
Big Sign-Up Bonus!
Trustful Broker. Recommended Only For Experienced Traders!
The broker does not list specific requirements on its website regarding these documents, but it is safe to assume that ExpertOption has the same requirements as other brokers. The proof of identity most likely needs to be government-issued and include your photo, name, and birthdate at a minimum.
The proof of address likely needs to be an official document or bill with your name and address clearly displayed.
Account Types and Minimum Deposits
While many brokers only offer a single account type for clients or possibly two, ExpertOption has an exceptional range of accounts.
It is also interesting to note that instead of creating account tiers based on verification levels as many brokers do, ExpertOption creates tiers based on the size of your investment, with the ability to upgrade to a higher account level.
There are five types of accounts available from ExpertOption, with each adding benefits but increasing the minimum investment.
- The Basic account only requires a deposit of $50 but lets you upgrade to a higher status when you are ready to do so.
- Silver accounts are the most common starting point, requiring a $500 minimum deposit.
- Gold accounts start at $2,500, and Platinum accounts start at $5,000.
- Exclusive accounts are by invitation only.
The Basic accounts get access to all the educational materials. You can have a maximum of 10 deals open at a time with a maximum deal amount of $25. Silver accounts include an introduction to a personal manager.
They upgrade the maximum deals to 15 and the maximum deal amounts to $250. They also add access to daily market reviews as well as financial research. The Gold accounts allow 30 simultaneously open deals of up to $1,000 per deal.
They also add priority withdrawal and increased asset profit of up to 2 percent. Those with Gold accounts and higher also get priority withdrawals.
Platinum accounts have a maximum deal amount of $2,000 and no limit to the number of simultaneously open deals. The increased asset profit becomes up to 4 percent, and you also get an account manager.
Those with Exclusive accounts get a senior account manager, increased asset profit of up to 6 percent, and maximum deal amounts of $5,000. This account type also adds access to strategies.
Note that regardless of the account type, the minimum investment amount for a single trade is $1. It is also important to note that certain account benefits require the client to request activation of that feature via email, at which point it will be manually activated.
|Personal Manager||Introduction||Introduction||Account Manager||Senior Account Manager|
|Daily Market Reviews and Financial research||✓||✓||✓||✓|
|Access to Strategies||✓|
|Maximum number of simultaneously open deals||10||15||30||No Limit||No Limit|
|Maximum Deal Amount||$25||$250||$1,000||$2,000||$5,000|
|Increased Asset Profit||0||0||up to 2%||up to 4%||up to 6%|
Expert Option Bonuses
In a significant new update ExpertOption recently began to offer 100% bonuses to all first depositors. The introduction of a bonus system owes largely to popular demand, and see’s traders claiming a much needed boost to begin trading.
The 100% bonus can be claimed from deposits starting at $30, and traders will have one hour following the creation of their account to take advantage.
Importantly, acceptance of bonuses does not affect the ability to withdraw as with other brokers, with ExpertOption if you choose to accept the bonuses on offer, you’ll still be eligible to withdraw any time.
The bonuses are also available to existing traders, although the percentage on offer differs to that of those who are depositing for the first time.
What Instruments Does ExpertOption Offer?
With ExpertOption, clients can trade a range of assets, including cryptocurrency, equities, forex, commodities, and stocks.
- For fiat trading pairs, ExpertOption has all the major crosses, such as CHF, EUR, AUD, USD, NZD, and GBP.
- The equities include Coca-Cola, Tesla, Amazon, and Baidu.
- In terms of commodities, you can trade oil, silver, and gold.
- ExpertOption truly excels in terms of its cryptocurrency offerings with Bitcoin, Ethereum, Ripple, Bitcoin Cash, Bitcoin Gold, Dash, Ethereum Classic, Litecoin, IOTA, Monero, Tether, and Zcash.
What is a “Digital Option” or “Binary Option” ?
All instruments from ExpertOption are Digital Options. As such, these assets have asymmetric payouts with losses and gains capped by predetermined amounts.
This is a sharp contrast to futures or CFDs where the loss or gain does not have a cap. It is also important to note that with options, you have the right to sell or buy an asset at your predetermined future price, but this is not an obligation. If you choose a PUT option, you short the underlying price. If you select a CALL option, you go long on the underlying asset.
The payout will either be set at 0 or a percentage of invested capital, with the percentage ranging from 70 to 90 percent at ExpertOption. The expiry times for Digital Options on ExpertOption are limited to just several minutes.
Some reviews indicate you can only set expiry times of one or two minutes, but the demo version of the platform also has options for three, four, and five minutes. Most likely, ExpertOption expanded its expiry time choices at some point following reviews that state otherwise. Some traders would rather have longer expiries, as well, such as daily or hourly.
A digital option has a fixed payout if the underlying asset moves past the predetermined threshold or strike price. The loss is also fixed if the underlying asset doesn’t move past the threshold. A digital option depends on one proposition, which is whether the underlying asset expires in the money at the expiration date and time. If the underlying asset expires in the money, the option is automatically paid out with the trader receiving the profit or the loss being logged in the account. Digital options payout profits, but are not exercised like vanilla options which provide the potential for ownership of the underlying.
It is also referred to as a “binary” or “all-or-nothing option.”
ExpertOption Demo Account
ExpertOption offers a demo account for clients to explore the platform and hone their skills before investing real money. The demo account comes with a balance of 10,000 in virtual money. No registration is necessary. As soon as you click on the link, you will be shown a brief video titled “How to trade” to give you a guide to using the platform.
The demo account is extremely useful, as the pricing is identical to the figures listed on the live account, providing you with an accurate idea of how your trading style would work with ExpertOption.
The fact that you do not need to register to create a demo account helps set ExpertOption apart. This means that you do not need to provide any personal data to get a feel for the platform or for trading digital options, like those on ExpertOption.
Many people feel more secure knowing ExpertOption will not have any data on them prior to registration. Additionally, the lack of registration required for a demo account also means there is no way for ExpertOption to pressure you into opening a real money account following the demo. After all, the broker will not have your contact information.
To make a deposit, go to the Finances tab on the main bar to the left side of the trading platform. Click the Deposit tab (which should open by default). Choose your deposit method, currency, and amount, then hit submit.
Deposit options include major credit and debit cards, such as Visa, MasterCard, and Maestro, along with cryptocurrency and other options. These other options include UnionPay, WebMoney, Neteller, Skrill, Perfect Money, QIWI, Fasapay, and Yandex Money.
During the process of depositing funds into your account, keep in mind that the minimum deposit for ExpertOption is just $50. With this deposit size, you will have a Basic account. There is also a maximum deposit size set to $3,000, likely due to payment limits.
ExpertOption Trading Platform
Most competitors in the world of digital options choose to use an existing platform instead of creating their own to save time. However, ExpertOption created its own platform, so it could be fully customized and tailored to the needs of the average ExpertOption client.
This means that the platform from ExpertOption perfectly integrates all the features the broker offers. The downside is there are no outside support resources available for the platform.
Even so, its intuitive nature combined with ExpertOption’s customer support means that outside resources are not likely to be necessary to understand the platform.
Trading on ExpertOption
You can easily view the trading platform yourself by clicking on “Demo Account” on the homepage. The focus of the platform is the main graph, which displays prices of your chosen asset with real-time figures.
The main graph lets you hover over any point and see the specific time as well as the price at that point.
The top-left corner of the graph features a drop-down menu where you can select one of the 100 or so stocks and assets to view. Here, you can either choose one of the top instruments, use the search bar, or browse by asset type.
To the right of each instrument, you will see the current percentage and percentage change. After selecting your asset, select from one, two, three, four, or five minutes.
When you hit “Apply,” the graph will update automatically, as will the information in the sidebars. It is also possible to adjust the layout of the chart and split it, so you can view the charts for more than one asset at a time. This last feature is particularly helpful for those who trade multiple markets.
Use the controls on the graph to view past prices at your preferred date. To the right of the asset drop-down menu, you will find useful tools to help you analyze the price graph. They are divided into buttons for charts, indicators, drawings, and social trading.
Use these buttons to switch among four chart types: area, line, bars, or candles. Indicators include MACD, awesome oscillator, RSI, fractal, parabolic SAR, alligator, Bollinger bands, and moving averages.
Clicking on any of these indicators lets you customize it fully. Using the drawings button, you can add rays, vertical lines, or horizontal lines.
Clicking the social trading button toggles icons of trades from other ExpertOption clients either on or off, so you can view when and how much they traded.
To the right of these buttons, you also have the choice of three different layouts to choose from.
The trading panel is near the bottom of the graph. It displays the deal amount of a given trade, as well as your potential profit. As you adjust the deal amount, the profit is automatically adjusted.
You will notice that the potential profit is represented as a percentage on the red and green buttons on the right side of this panel. Immediately above each button, you will see the potential profit or loss. You can also adjust the strike rate here.
Along the left side of the screen, you will see buttons for Trade, Finances, Profile, Apps, Analytics, Education, Help, Setting, and Exit. The Trade button displays the graph and all the above features.
The Finances button shows you details of your account, including the type of account you have and your balance. This is also where you can submit deposits and withdrawals. The Profile section shows your trading history.
To the right side of the screen, you will see three options for Deals, Trends, and Social. Clicking on Deals opens a sidebar on the right side of the screen that displays your most recent deals.
Selecting Trends displays trends in a right sidebar, with your choice of one-, two-, and five-minute intervals. All asset types appear on this list, with commodities, forex, cryptocurrencies, and more mixed together based on trends.
The Social button on the right opens a sidebar dedicated to the social features of ExpertOption in the same place. At the top of the sidebar, you will see totals, including the number of users online, the volume of opened deals, and the number of open deals.
Directly below this, you will see the opened deals regarding your currently selected asset. These deals are divided into sections based on their length, including one, two, three, four, and five minutes.
You can adjust which deal length’s data appears on top by clicking on the asset on the top-left corner of the chart. For each deal duration, you will see the number of deals opened, the deal volume, and a ranking of the top five traders by profits (so far) with the given deal.
There are more than 20 different payment systems that ExpertOption works with for withdrawals. In terms of credit and debit cards, you can use MasterCard, Visa, Maestro, or Union Pay.
Account holders can also utilize electronic payment methods, including Fasapay, Perfect Money, Skrill, and Neteller. Or you can withdraw via Bitcoin.
Remember that when withdrawing funds, you must withdraw it via the same method as your deposit, up to the amount of the deposit. After you have withdrawn your initial deposit, you can choose a different withdrawal method for the rest of the funds.
This is a standard practice across brokers of all types since it helps prevent money laundering.
You must withdraw a minimum of 10 USD at a time, and withdrawal requests get processed within two working days. Depending on the type of withdrawal, you may need to send ExpertOption additional documentation via scans. In this case, the request for those documents will occur via email.
ExpertOption does not charge commissions on transactions. However, your payment aggregator or payment system may take a commission.
ExpertOption Analysis Tools
ExpertOption has a range of technical analysis tools, including trend lines, four types of charts, and eight indicators.
Via the platform, you can also go to the Analytics page to view additional resources. Here, you will find a tab filled with relevant news, followed by tabs dedicated to Assets and Stocks. The Stocks page displays the various supported stock exchanges on a world map, complete with time zones.
Clicking on any of the stocks will give you a brief summary of the exchange, along with its headquarters, founding year, revenue, and work time.
Via its inclusion of social trading elements, ExpertOption does include trading signals. While the platform does not directly refer to these signals as such, the social signals are essentially trading signals. You can use the signals on all assets.
Education for Traders
Because ExpertOption aims to make trading accessible to all, it includes a sizable number of educational tools. If you click on the Education button on the trading platform, you will find a range of videos on the “How to get started” tab.
This includes quick videos to explain the platform toolbar, graph types, social trading, deposit methods, how to trade, assets, and a tutorial. Or you can go to the “Education” tab for access to a glossary, fundamental analysis, graphical analysis, technical analysis, trading strategies, and psychology of trading.
Each of these sections includes detailed information on a range of relevant topics, complete with images, graphs, and infographics. You can also access each of these educational sections via the Education page on the main navigation menu of ExpertOption’s website.
Regardless of your access method, the educational materials on ExpertOption are truly in-depth. Just within the category of trading strategies, you will find guides to Engulfing Candlestick, Squat Candlestick, Tweezers, Three Methods, Breakout, Reversal Moving Average, Bollinger Band, and Alligator Trading Strategies.
Each strategy explanation includes a description as well as a guide to how to use it, along with examples via charts.
Within the category of technical analysis, you can find specific guides for Alligator, Moving Averages, Bollinger Bands, and Trend, support, and resistance lines. Once again, each guide has a detailed description that includes images and charts as well as information on how to use that particular analysis.
Graphical analysis topics include Candlestick Analysis, Trend Continuation Patterns, Trend Reversal Patterns, and Fibonacci Retracements and Elliot Waves. Within the educational materials for fundamental analysis, you will find a guide to basic fundamental indexes.
The section dedicated to the psychology of trading is particularly interesting, as this is an educational category that most brokers do not offer. There is an overview as well as sub-topics focusing on Successful Traders, the Psychology of Traders, and Individual Trading Psychology.
ExpertOption Social Trading
ExpertOption also offers social trading, which lets you trade with friends or watch and follow global deals. In fact, ExpertOption markets itself as the leader for social trading networks. With the platform’s social trading, you can trade with friends and investors or watch them open their own deals in real-time.
This part of ExpertOption includes Top Investors, so you can follow the results of VIP traders and learn from their actions. ExpertOption also encourages clients to try to become a trading leader in their own countries.
To further enhance the social aspect of ExpertOption, the platform has groups on social media platforms, including Facebook, Instagram, Twitter, and YouTube.
To fit the company’s goal of making trading accessible, ExpertOption is available via mobile or desktop apps. Those who want to use the mobile application can download it via the Apple App Store or Google Play Store or just download the APK.
The desktop apps are available for either Windows or macOS. Alternatively, you can access ExpertOption without any downloads via your browser since the trading platform is compatible with all browsers.
As is commonly the case with trading platforms, most traders will find the downloadable desktop platform to be the most efficient method of using ExpertOption. The order execution also tends to occur more efficiently on the desktop platform.
The mobile applications are both highly rated in their respective application stores. The iOS application has a 4.8/5 rating from 19 ratings, while the Android application has 36,164 ratings and reviews, leading to a score of 4.4 out of 5.
The Android application has been installed over a million times but does not list the supported languages in the description. By contrast, the iOS application does not list the number of downloads but lists all 21 supported languages.
The application descriptions for Apple and Android devices are identical, both reminding users that the platform currently offers services to more than 9 million traders in more than 150 countries.
This mobile application includes access to the free demo account, quick withdrawals to a bank card or one of the more than 10 e-wallets, access to more than 100 trading instruments, professional trading conditions, the full range of account types, 24/7 customer care, technical indicators, and instant execution of trades.
However, keep in mind that the small screen size of mobile devices limits the ease of use for features related to technical analysis. As such, those who engage in technical analysis will likely want to use the desktop or web version of the platform.
ExpertOption does offer bonuses for new clients, although these bonuses are not clear via the website. Reviews state that the bonuses can be as high as 100 percent.
At the same time, most reviews caution users to read the details regarding a bonus since these promotions tend to have strict requirements for receipt.
A bonus can also lock up the funds you deposit until you reach the agreed-upon turnover volume. Essentially, while ExpertOption does offer bonuses, you should carefully read the terms of them before taking advantage of one. It is also possible to cancel a bonus if you have not used it yet.
Who Can Use ExpertOption, and What Languages Does It Support?
As previously mentioned, ExpertOption clearly indicates a list of countries and regions from which it cannot accept clients. These include the United States, Canada, Switzerland, New Zealand, Australia, Israel, the European Economic Area, North Korea, Japan, Sudan, and Puerto Rico.
To appeal to all clients within the jurisdictions where ExpertOption can operate, the website is available in 15 different languages.
These include English, Chinese (two variations), Thai, Hindi, Korean, Vietnamese, Arabic, Turkish, Bahasa (Indonesian), Bahasa (Malaysian), Portuguese, Spanish, Polish, and Tagalog. All 15 of these languages are also available for the web version of the ExpertOption trading platform. While the website is available in those 15 languages, phone support must be in English or Hindi at this time.
Reviews indicate that ExpertOption previously offered phone support in Thai, as well.
ExpertOption Customer Support
You can take advantage of ExpertOption customer support in either English or Hindi. The English support comes with its own email contact and phone number and is available 24/7.
The Hindi support has a unique phone number and unique email address with support from 10:30 to 19:30 India time.
There is also an online chat and the ability to fill out a contact form. 24/7 customer care from ExpertOption is also available via the mobile applications.
ExpertOption is fully licensed by the SVGFSA, a governmental financial authority that allows the company to provide financial and trading services.
Currently the platform can be accessed from most locations worldwide, however ExpertOption is not authorised to accept U.S. citizens, although the platform is considering further expansion into new territories.
EO.Trade is a full Cryptocurrency Exchange from the same company as ExpertOption which will allow you to trade 4 coins currently and also allows for direct fiat purchases.
This was funded by a crowd-sale for their own EO Coin which will be usable throughout the ecosystem.
We have covered the company behind ExpertOption before here on Blockonomi where we looked at their EO.finance wallet.
This is a Cryptocurrency wallet which allows you to purchase Cryptos with fiat, with this you are actually purchasing the assets themselves and are then able to transfer them out to your wallets for holding or trading on other platforms.
Is ExpertOption Safe to Use?
To protect client security, ExpertOption is verified by MasterCard and Visa. This is done via Verified by Visa and Mastercard SecureCode status. ExpertOption also has icons for Cert Trusted Secure and PCI DSS Complaint.
It also encrypts all data using the strongest cryptographic algorithms. The website uses SSL encryption, so all information sent over it uses AES 256 encryption. You can confirm this by viewing the lock icon by the URL in your browser and via the fact that ExpertOption uses an https:// address instead of an http:// one.
ExpertOption earned the title of “Best Trading Platform” during the China Trading Expo Shenzhen in May 2020.
Although the broker does not list any other awards in an obvious place on its website, it does also have mostly positive reviews from users and independent websites.
ExpertOption is a trading platform choice for those who want access to more than 100 digital options. This is not an ideal platform for those who want to engage in traditional cryptocurrency trading but is useful for those who want to trade options with binary outcomes at their expiration.
The platform is easy to use and provides more than educational resources. The social element of ExpertOption is also particularly useful, particularly for beginners and those who like to compare their trading strategies. It stands out with its cryptocurrency offerings since many brokers are only beginning to offer this type of asset while ExpertOption has several.
You should be aware of your countries regulations when it comes to trading these types of instruments, many countries do not allow this type of trading and it is not recommended for complete beginners as it is possible to quickly lose money if you do not know what you are doing.
Overall, ExpertOption offers a very user-friendly website and platform and a low minimum investment, which helps it appeal to a range of traders. Those interested in digital options should consider at least using the demo account, particularly if an element of social trading is important.
A large number of traders have joined the binary options trading market fray due to its increasing popularity. This has resulted in the creation of a big pool of binary option robots with the aim at tapping into this expanding market base. Most traders are grappling with the idea of which, among these robots are best to trade with. Many program developers associated with binary option robots and option signals are hugely motivated by the profits to be acquired in this type of trade. This fact alone has resulted in the presence of different types of programs that have flooded the market giving leeway to imitations and scams that want to get the most of hapless traders.
Any trader in the binary options kind of trading should be aware of this and try as much as possible to invest in a little bit of knowledge lest s/he falls into the trap of unscrupulous traders whose main aim is to exploit the ignorant. This review of ExpertOption will give us a peek on how to choose the best option in terms of robots and best binary option brokers. IQ Option for example is one of them, let see if Expert Option is too.
This broker is a relatively new entrant in the binary options trade and it is owned by Expert options limited located in St Vincent and the Grenadines. They have a trading platform that is simple and easy to use. Their trading assets include most Forex Pairs, Market Indices like S&P500 and Oil. They offer competitive payouts on various options with a record breaking time duration of 5 minutes. One can also select a time frame of between 60 seconds and 5 minute expiration. Longer time frames are expected to be in effect soon. This broker is widely recognized in Russia because they are licensed by CROFR (Financial Market Relations Regulation Center). Their website is in the Russian and English languages. This broker was established in 2020 and it is a relatively new entrant in the binary options trading scene. The site has popularity in Russia and features other languages like English, German, Italian, Spanish, Portuguese and Hindi languages. The broker has taken advantage of their trading platform to meet the needs of binary option traders.
expert options main page
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1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.
2. The Binary Option Robot Will Predict the Price Movement
Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.
3. Decide on how much you want to Invest
Then you need to decide how much you want to invest in the commodity and when that investment will expire.
4. Collect your Earnings
Finally, you collect your earnings (the good part!)
TABLE OF CONTENT
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What does ExpertOption have to offer?
- ExpertOption trading software – This is a software that is wholly developed and used by ExpertOptions and it is exclusive to this broker. Most brokers use platforms from other service providers but that is not the case with ExpertOption which uses its very own. This is their proprietary software with a simple interface that is easy to use for both new and experienced traders. It consists of some features which allow traders to perform technical aspects of the trade that are necessary in maximizing their profits and at the same time executing their transactions promptly.
- Educational materials – The site has very useful and informative materials in the education section that actually helps newbies to come to terms with the operations of the binary options trade. It not only offers strategic advice about this trade but also provides a glossary of terms and analytical information that are relevant to any eager trader.
- Mobile trading platform – ExpertOption takes care of all types of traders including those who are on the go by providing an efficient mobile service for all its customers. This mobile platform is available in the app format and can be downloaded through Google Play and Apple Stores. It is very suitable for those traders who are on the move and would wish to check on their assets anytime they wish to.
- Assets – They have quite a number of trading assets that range from Market Indices, Forex Pairs, Commodities, Gold and Oil. Their Market Indices feature very popular and widely reputable firms like S&P500.
- Continuous stream of trading signals – The ExpertOption platform has a great feature when it comes to streaming of trading signals. It has a continuous stream of trading signals and alerts. These signals encompass all their assets and include the Neutral or Sell and strong Sell and the Strong Buy signals. These signals are important in the binary options trade and it is crucial to understand what they are based on and this call for a demo.
ExpertOptions Account Features
ExpertOption offers a variety of trading accounts that meets the needs of different types of traders. These accounts include:
- Mini account – It is a basic account that can be opened with a deposit of only 50 dollars. It has a maximum number of 10 open deals with a maximum of 20 dollars per deal. It also offers educational training materials related to the binary options trade and also incorporates a 50% bonus.
- Silver account – This account is for the more experienced traders and can be opened with a deposit amount of 250 dollars. It features bonuses which can be as high as 75%.
- Gold account – This account can be opened with an initial deposit of 1000 dollars and has very attractive benefits like priority withdrawals, increasing asset profits and personal consultation with a leading trading partner.
- VIP account – This is a top level account that takes up all the features of the gold account and also includes an analysis of the trader’s individual history. It has bonuses that go as high as 125% and is especially beneficial for experienced traders. A demo account is also available for free and is useful in familiarizing one about the site and its operations.
expert options accounts
Traders wishing to open an account with ExpertOption have a wide range of options including the most traditional to the more contemporary e-Wallets banking methods. The minimum deposit amount is just 10 dollars and this makes the site a simple and easily accessible one. This amount is the lowest in the industry and is a good motivating factor to new traders who would wish to gain trading experience. ExpertOption has a very quick and efficient withdrawal and deposit system which guarantees short turnaround times with a good customer support facility. All traders’ funds are held in European banks that are secure and which enable traders to have a peace of mind when trading.
ExpertOptions, just like any binary options broker, lets traders make deposits by using the standard methods of payments which consist the use of credit cards. Among the most popular credit cards that are accepted here include Visa, Maestro, MasterCard, and American Express among others. Deposits by wire transfer and other e-Wallet methods are also accepted. Safepay and Skrill are also available to any potential trader in this trading platform.
ExpertOption offers a professional platform for trading which offers really easy and simple earnings in binary options type of trading. They offer many tools for trading that features the most perfect conditions for trading in the industry. Each and every trade is watched in real time by experienced trade experts. ExpertOption also provides the best and fastest withdrawal features in the industry in which money is able to reach your e-Wallet or your card in the shortest time possible. The transactions are commission free and involve a wide range of payment methods apart from those mentioned above.
expert options details
ExpertOption Promises vs. Reality
Like any other broker, ExpertOption use marketing strategies to entice traders to their binary options trading platform by using attractive sales language. However, when one closely checks the site the story is entirely different because some traders feel that the site is not genuine. This is because the site is not that transparent and does not provide the much needed information to the trader. Finding helpful information about the site is challenging thus making it opaque and one that does not satisfy the needs of its customers. This scenario makes it very difficult for any trader to trust it.
The site also features a demo account that is supposed to allow a trader to learn more about the binary options trade but the transition to the main account is a big problem because it directs one to the trading area. The profits one is supposed to get in a demo account are highly exaggerated and this makes the site to appear unreliable because it promises high returns which are not possible in a live trading session. The demo account is therefore viewed as an enticing one rather than one that is honest in trading.
When it comes to bonuses and promotions one expects that the site will provide clear guidelines on how the features will be rolled out. The promise of fast withdrawals of the said bonuses stares any other trader on the face because when you check the terms and conditions relating to bonus withdrawals you find that it is not that easy to retrieve your withdrawals once you make your initial deposit because the bonuses are usually tied up with the withdrawal process which is rigorous and discouraging.
Shortcomings of ExpertOption
This broker is a relatively new entrant in the industry and this makes it a big problem for many traders especially when it comes to confidence issues. Among its greatest shortcomings are the following features which are so profound and need to be improved upon.
- Withdrawals and deposits – ExpertOption has transparency issues when it comes to deposits and withdrawals because it does not set out clear guidelines on how these can be transacted. Many traders find this to be a big challenge because it does not give them room to make informed decisions. This has resulted to several complaints by traders. ExpertOption just bought a set up website that has never been customized to the traders’ requirements. This makes it just a site that is not in touch with the needs of its customers.
- Customer support – Information on how to communicate with customer support is scanty and this leaves most traders at crossroads because some of them cannot invest in a trading platform that seems not to have a customer care representative. It is so disheartening to find that most of the times the language of choice is only in Russian. This seems like an isolationist policy to majority of traders who come from other countries across the globe. This is why the site has a very small customer base.
- License and regulations – ExpertOption brokers are not licensed by any Licensing agency with authority of repute and one that is trusted by many investors like CySEC. The licensing authority in the name of CROFR is locally based and this makes ExpertOption to have confidence issues with traders who are willing to trade on its platform. They view it as a local broker that is not compliant with international standards and most of them would rather trade with other well known binary options brokers. Most traders recognize brokers who have a CySEC certification and ExpertOption is not one of them.
- Withdrawal policy – As stated earlier, their withdrawal policy is their main undoing since it is shrouded in secrecy and oblique and this makes most traders to shy away from it because they are unable to make informed investment decisions in such a situation.
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FAQ on Expert Options
This article provides answers to the most frequently asked questions about the expert options. The FAQ deals with the various topics ranging from promoters to the customer support.
- What are the available withdrawal & deposit methods?
The expert options allow you to withdraw or deposit funds through credit or debit cards (Visa, MasterCard, Maestro), UnionPay, Skrill, Neteller, Payweb, PerfectMoney, Qiwi, Yandex Money, and Webmoney.
- Who are the promoter and its registered address?
The ExpertOption Ltd is the promoter company located at Saint Vincent & the Grenadines, 1510, Kingstown, Suite 305, Griffith Corporate Centre with registration number 22863 IBC 2020).
- Is it a licensed broker and who is the licensing authority?
The brokerage company is registered with the self-regulatory body called FMRRC (Financial Market Relations Regulations Centre) and has received license No: TSRF RU 0395 Vv0099 which is valid until 8 th September 2020.
The company has also received a license to be dealers in securities from the Republic of Vanuatu on 6 th January 2020 and valid till 5 th January 2020 having license number 15014.
- What is the platform used by the Expert Options?
The Expert Options utilizes the in-house developed platform to drive the trading the binary options.
- Does Expert Options offer demo account?
Yes, the Expert Option offers one-click demo account which can be used without registering on the platform. The demo account provides $ 10,000 virtual currencies for testing the platform.
- What are the assets available for trading?
The website provides more than 50 assets to trade under the four categories: stocks, indices, commodities, and currency pairs.
Expert Option Trading Platform
- What is the overall expiry range?
The Expert Options provides expiries ranging from 60 seconds to 5 – minutes.
- What are the minimum deposits and a minimum per trade amount requirements?
Being a retail friendly brokerage house, the Expert Options allows you to deposit a minimum of $ 10 and $ 1 as the per trade investment amount.
- What is the minimum withdrawal amount?
The brokerage house allows its investor to withdraw a minimum of $ 10 through their preferred mode of payment.
- What are the bonuses and benefits for the registered customers?
The Expert Options offers up to 100 percent on the initial deposit, while it offers the bonuses from 25 percent to 125 percent on the consequent deposits.
Besides the monetary benefits, the company offers several other benefits like a personal manager, priority withdrawal, trading analysis amongst others.
- What are the several account types offered by the Expert Option?
The Expert Options offers four different account types based on the amount of deposit made. It offers a Mini Account type with a minimum deposit of $ 50, the Silver Account with a minimum deposit of $ 250, the Gold account on the deposit of $ 1,000, and the VIP account with $ 2,500 minimum deposit which offers entire bouquet of exclusive benefits.
- What is the Return on Investment per trade?
The Expert Options provides up to 95 percent payouts on winning trades. Meaning, on an investment of $ 100 per trade, the winning trade will get you up to $ 95 profits.
- How can you connect with the customer support of the Expert Option?
The Expert Option provides its customer support services through many channels including web forms, online chat, e-mail, and phone.
The following table lists all the customer care numbers and their respective e-mail addresses.
ExpertOpption Customer Support
Questions Before Making The Selection of The Binary Broker
The binary trading has come a long way and has been flooding with many players. These brokerage houses or the websites offers the same thing but with some distinct benefits to differentiate themselves. Though every binary brokerage site looks the same, there are some key parameters which one must consider while making the selection.
Our endeavor here is to provide you the list of questions which should form the basis of your ultimate selection. Though the list is not an exhaustive one, it definitely provides the fair idea on each of the key selection parameters and why that parameter is important in the selection process.
Who Is Behind The Brokerage Site?
The first and foremost thing before making the selection is to try and answer the above question with as much information as possible. The question is very relevant as the answer to the above question will throw more light on the hidden agenda if any. The hiding promoters should always be avoided.
What Drives The Website?
The answer to the above question will provide information regarding the platform which is being used by the website. It should also inform you about the aesthetics of the website and the platform itself. The unprofessional or hard-to-learn platform should be given fewer marks compared to the highly professional and user-friendly trading platform.
Does It Offer a Demo Account To Test Your Strategies?
This makes a lot of sense for beginners as well as for the professional trader, as it allows them to test the platform and its usability beforehand. This way the traders can rest assured that whenever he starts using the platform the trading experience will be smooth and comforting.
What Are The Available Tools for The Trading
Trading is an art and requires a thorough understanding of the fundamental analysis and the technical analysis. The traders in the binary arena utilize several tools and technical indicators to place their trades. The answer to the above question provides detailed information regarding the available tools for charting, availability of technical indicators, and availability of signals to trade.
What Is The Extra Features
The question pertains to the available bonuses of various types including deposit, re-deposit, and/or volume basis bonuses. These bonuses provide an additional amount for the trading and increase your chances of winnings. Though higher bonuses are welcome, low bonuses do not mean bad offerings. You should try to assess the offerings in the totality rather than evaluating the broker only on the basis of the bonuses.
What Is the Return on Investment?
As a trader, the trading is being carried out to earn money and hence this parameter is of prime importance. The answer to the above question will give you an idea about how much money you can make by investing $ 100 in a security. The payouts offered by the various broker is an important parameter which forms the basis for the Return On Investment. Higher payouts are welcome but need to scan the broker holistically rather than evaluating only on one single parameter.
How Do Your Finances Are Being Handled?
The deposit and the withdrawal process followed by the brokerage website give you an idea on how can you make the deposit and whether the available banking options suits you’re not. Your selection should be based on your preferred finance handling method.
Expert Option Features
What Can You Trade and How?
The available trading choices of assets and option types form the basis to answer the above question. The range of assets (forex pairs, commodities, stocks, and indices) and the number of assets should meet your requirements. Also, the expiry ranges available (60-seconds to 6-months) should be evaluated before enrolling in the website. This is a key question as the non-availability of your choice of asset and expiry range should definitely be avoided.
Do They Answer to All Your Questions?
The answer to the above question will provide information regarding the customer support offered by the brokerage house. The robust customer support will assist you on all walk of the trading as well as ongoing support for the future queries you may have. The availability of local phone or local language is the most preferred though not an essential requirement. You should assess the customer support on the basis of your preferred way of communication.
All the above question should be asked while evaluating the brokerage site. Though the list is not an exhaustive one, the above are the minimum question which one should ask while conducting the assessment. The above questions will help you assess the brokerage house better and should also help you not to fall prey to the scam artists. We would also recommend you to read our review on various brokerage houses to get an unbiased view of the services rendered by these operators.
It is expected that brokers in this kind of trade to have shortcomings as none of these brokers have the capacity to put up a perfectly error free outfit. But when the weak points outweigh the strong points by far then there is reason to raise the red flag. When one critically looks at ExpertOption it is very difficult to draw conclusions. This is not a good sign because a good site is supposed to make an instant impact to any new trader but that is not the case with ExpertOption which has some glaring confidence issues. Their trading platform features a robot software that is largely unknown and one that has not been extensively tested.
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