Expert Option Review 2021
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|Expert Option Facts & Figures|
ExpertOption offer digital trading on Forex, Cryptocurrencies, commodities, indices and stocks. This high risk / high reward trading is only available to certain regions.
|Bonus||100% Deposit Match|
|Instruments||Fixed Time Trades|
|Min. Deposit||10 $/€|
|Payment Methods||Neteller, Perfect Money, QIWI, Skrill, UnionPay, Vietcombank Transfer, Webmoney, Wire Transfer, Yandex Money|
|Min. Trade||1 $/€|
|Regulated By||Financial Services Authority of St. Vincent and the Grenadines (SVGFSA)|
|Mobile Apps||iOS and Android|
ExpertOption is a popular online broker offering digital options and fast online trading. This review covers the trading platform, mobile trading app, withdrawal and deposit process and details of the demo account. We also review each account type and offer strategy on binary trading and digital options.
Online trading has grown at an exponential rate in recent years, revolutionising the way we access the financial markets.
Supported by an increasingly growing number of brokers like ExpertOption, whose platform provides an uncomplicated way for users to make money trading on the global markets.
Be it currencies, commodities or even stocks like Apple, Facebook and Tesla, access to trading has never been easier.
Testament to this fact are the impressive numbers boasted by the ExpertOption platform, which is available in more than 150 countries, and at the time of writing have more than 65 million registered users worldwide.
Founded in 2014, ExpertOption has accumulated a loyal following, having established itself as one of the most trustworthy and reliable trading platforms.
ExpertOption began providing services to traders in 2014 and currently executes in excess of 30 million deals each month.
The goal of ExpertOption is to deliver a completely transparent online trading experience. To achieve this, it provides its users with an intuitive trading platform and plenty of educational materials.
Customer service is clearly a priority here, and the brand has over 100 account managers which focus on a range of different client needs. ExpertOptions also pledges to deliver the fastest possible trading in the industry via its own dedicated platform.
ExpertOption provides users with a variety of intuitive trading platforms, with the option to trade via the web, mobile app or dedicated desktop app.
While many brokers choose to make use of an existing platform (typically MetaTrader 4 or MetaTrader 5) to save time, ExpertOption instead created its own platform which is fully customisable and can be tailored to the needs of each client.
This means that all features on offer from ExpertOption are easily integrated, whether the user is trading via a desktop or mobile device, although the downside is that there are no exterior support resources available.
However, with such an intuitive interface, it’s unlikely that users are going to need outside resources to understand how to trade with ExpertOption.
Furthermore numerous signalling and analysis tools are available, including;
- Four chart types
- Eight indicators
- Multiple trend lines
The platform also supports social trading, a wonderful feature that provides an opportunity to monitor the deals of top traders, even allowing users to copy trading strategies to maximize profits.
ExpertOption provides more than 100 of the most popular and widely traded instruments, and the list continues to grow, with an ever increasing number of stocks, commodities, currency pairs and cryptos.
Just a few of the most popular instruments include the likes of; Google, Facebook and Apple stocks, Gold, Platinum and Silver commodities, top currency pairs such as USD/EUR, GBP/USD and of course cryptos like Bitcoin and Ethereum.
Spreads & Commission
ExpertOption charges a commission of $5 on any winning trades. When it comes to payouts, the brand can take up to 5% on winning trades, which is below the industry standard which can often be as high as 15%.
Spreads can vary dependent on the type of account the user opts for and can be as low as 0.1 points.
While spreads generally start higher on standard accounts, ExpertOption remains a competitive broker to trade with.
It is worth noting that spreads can increase or decrease during specific periods, dependent on market conditions.
ExpertOption is completely free to join and completely free to trade with. There are no fees associated with trading, except for the aforementioned commission on winning trades.
Leverage rates with ExpertOption can vary depending on the trades the user is considering.
For most forex pairs, such as EURUSD, leverage is set at 1:30. This level is imposed by officially sanctioned regulation and is the same across all regulated brokers.
Minor forex pairs like EURNOK, NZDUSD, AUDCAD, USDSGD and EURPLN have a leverage set at 1:20. Max leverage on other trades on the ExpertOptions platform is 500:1.
ExpertOption has dedicated mobile apps for Android and iOS devices. These can be downloaded from the Google Play Store or Apple App Store.
Alternatively, users can download the Android .apk install file direct from the ExpertOption website.
Each mobile app comes highly rated in their respective stores, and it’s easy to see why.
With quick withdrawals, access to a free demo account and access to over 100 different trading instruments complete with professional trading conditions, ExpertOption goes above and beyond to provide mobile users with complete control.
Perhaps the only drawback is that the small screen size of a mobile device can limit the use of the platform’s useful technical analysis features.
Those who want to get a little more technical are advised to use the dedicated desktop app or web version of ExpertOption.
ExpertOption provides users with several different deposit/withdrawal methods, each of which helps make the brand inclusive for all traders around the world.
Ensuring swift deposit methods is crucial to any trading experience, as such ExpertOption has done everything possible to simplify the process.
By keeping the minimum deposit at a comparatively low $10 it allows people from all walks of life to join the platform, and begin their trading careers.
This is backed-up by the fact that deals can be made for a minimum of $1, in addition to the fact you can deposit in any local currency.
Importantly the deposit process benefits from the 20+ payment systems which have been integrated, providing a convenient method of deposit wherever in the world you’re located.
Some of the most popular payment processors include;
- Wire Transfers,
- Perfect Money,
- Cryptocurrencies like Bitcoin and many more.
Withdrawal of funds is a primary concern for traders.
ExpertOption has streamlined the entire process so requests are fully processed within two full business days (Mon-Fri).
Depending on the method and account type, withdrawals can also be processed almost instantly, usually via cryptocurrency or e-wallets.
The minimum withdrawal amount is only $10, in most instances verification of the trading account is required before any withdrawal is approved.
The deposit amount must be returned via the same method it was received from, while profits should be withdrawn with cryptocurrencies or electronic wallets such as; Skrill, WebMoney, Neteller, Perfect Money, and many more.
ExpertOptions provides a demo account for its clients to hone their skills and explore the platform prior to investing any real money.
Demo accounts come with a balance of $10,000 in virtual funds, and no registration is necessary to access the demo account.
This is useful because many new users feel put off having to provide documentation and personal data simply to try out a demo account, and it means that the brand doesn’t have any personal contact data to pressure you into registering for a real account after experiencing the demo.
This is a sign of a company that is confident in what it has to offer.
Overall, the ExpertOption demo account is incredibly useful, as it provides users with access to all the standard features are pricing as listed on a live account.
This gives new users a chance to experiment and to find out whether their trading style works well with the ExpertOption platform.
Deals & Promotions
The platform offers a 100% welcome bonus to all first depositors, it’s totally optional, but can provide a much needed boost to start off your trading career.
The 100% bonus can be claimed on deposits starting at $30, and traders will have precisely one hour following the creation of their account to take advantage.
It’s important to note that accepting the bonus does not affect a traders 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.
Regulation & Licensing
ExpertOption is currently licensed by the Financial Services Authority of St. Vincent and the Grenadines (SVGFSA).
This is a governmental authority which allows the company to provide trading and financial services, which means that the brand can be trusted to be fair and transparent.
The platform can currently be accessed from most locations around the world, although it is not currently authorised to accept US traders.
However, the platform is constantly considering expansion into new territories and can be accessed from most of Europe.
ExpertOption features an incredibly informative education section on its website, which can prove invaluable for traders of all experience levels.
Traders can learn about different strategies involved with trading indices, currencies, binary options and more.
Users can access several tutorials and articles which are geared towards helping them make smarter trading decisions. In addition to these tutorials, traders can also browse a comprehensive glossary of all relevant trading terms and their definitions.
Perhaps one of the most innovative aspects of the ExpertOption platform is the social trading option, where users can study the actions of VIP traders and get inspired to try out new strategies based on the trading decisions of the professionals.
In total ExpertOption provides six different types of account, with each one featuring a unique set of benefits.
The deposit amount starts from a minimum of $10 for a Micro account, to $5000 for Platinum.
The most obvious advantages include an increase in profit percentage, and priority withdrawals for the higher status account types.
The Silver account is the most popular choice among traders, as many feel it provides the perfect balance of benefits for the investment amount.
It’s important not to overlook the fact that each deposit counts towards increasing a trader’s overall account type / status, so over time you can work your way towards achieving a Gold, or Platinum account.
Upon achieving a new account status, any additional features are automatically activated.
Finally there is the Exclusive account type, although this is reserved for VIP traders and is available by invite only.
• Low minimum deposit (just $10)
• Large maximum returns (up to 95% of winning trades)
• Intuitive platform which is easy to use for beginners
• Access via desktop and mobile apps
• Lots of educational materials to suit traders of all experience levels
• No commission on deposits and withdrawals
• Large bonuses (for Non-EU clients)
• Personal account managers
• Good analytical tools to help facilitate smarter trading
• Several different funding options
• Trade on many instruments
• Good customer service
• US trading currently not accepted
• Short-term options
• Not regulated in Europe
• No MT4/MT5 support
The ExpertOption platform is open 24 hours a day, 7 days a week, 365 days year, and can essentially be accessed for trading at any time, either by mobile or desktop device.
However, it’s worth noting that not all markets are open 24/7! This means that while ExpertOption can be accessed whenever you choose to log in, trading is limited to the hours when the markets you wish to trade on are open.
To provide an example, the London forex market is open between 3am and midday GMT.
In contrast, the New York forex market is open between 9am and 5pm GMT. Sydney operates between 5pm and 2am GMT, while the Toyko market opens between 7pm and 4am GMT.
While there are always opportunities to trade, you may be restricted in terms of time if you only seek to trade on certain markets.
Expert Option Education
Without effective educational materials, learning to trade becomes exponentially more difficult, that’s why ExpertOption does more than any other broker to prepare traders for the reality of trading.
Whether you’re a newbie or a veteran trader, there’ll be materials which can assist you on your journey, and best of all they can all be practiced in the risk-free environment of the $10,000 demo account, the perfect place to learn.
The primary sources of educational materials are webinars, video tutorials and in-depth articles, all of which can help traders to gain a better understanding of effective strategies, signals, how indicators work and so much more.
Contact Details/Customer Support
The platform also benefits from a superb customer service department, who are ready to provide assistance 24/7.
There’s a number of methods which can be used to reach the team, namely the live chat facility which provides traders with near instantaneous support in numerous languages, this is in addition to the email ticketing system, contact form and phone support.
It’s clear that ExpertOption has made a sterling effort to ensure there is a multitude of responsive means to contact a company representative.
Safety and Security
Similarly to any other trading platform, ExpertOption treats security as of fundamental importance.
To ensure its traders are able to trade safely with peace of mind, a variety of cryptographic algorithms are employed to ensure client data is stored securely.
These stringent measures are backed up by all the necessary security certification, VBV and MasterCard verification standards are implemented for data protection purposes.
Furthermore transactions are PCI DSS Compliant – following bank security standards, meaning all your data is encrypted, private and never stored on our servers.
It’s also necessary to note that your bank card must have 3D Secure enabled in order to deposit, and be eligible for international payment.
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 citizens of the following: European Economic Area, USA, Canada, Israel, Australia, Russia, UK, Switzerland, New Zealand, North Korea, Vanuatu, Sudan, Puerto Rico and Yemen.
Anyone searching for a broker that can provide a truly innovative experience and help them to develop as traders, should look no further than ExpertOption.
The platform is packed full of the latest features and developments in online trading, from a clean UI, responsive interface, to the in-depth educational materials and even social trading, the company is committed to providing traders with an experience unmatched by its competitors.
The company’s progress since its inception in 2014 has been exceptional, as they continue to innovate and work tirelessly to meet client demand, confirming ExpertOption’s position as one of the fastest and most convenient trading experiences available on the market.
Expert Option accepts traders from Thailand, South Africa, Hong Kong, India, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Expert Option from United States, Canada, Switzerland, Israel, New Zealand, Australia, Singapore, Bulgaria, United Kingdom, France, Germany, Ireland, Denmark, Sweden, Portugal, Norway, Iceland, Spain, Yemen, Italy.
Alternatives to Expert Option
If you are looking for alternatives to Expert Option we have compiled a list of the top 5 brokers that are similar to Expert Option below. This list of brokers like Expert Option is in order of similarity and only includes companies that accept traders from your location.
- CoinMama – Coinmama aim to make entering the crypto market as easy as possible, offering BTC,ETH,LTC,ADA,BCH and XTZ
- Kraken – Kraken is a top crypto trading exchange offering the largest altcoins by market cap.
- Quotex – Quotex offers a proprietary web platform that offers digital options and copy trading.
- BitMex – Bit Mex Offer the largest market liquidity of any Crypto exchange. Ultra low trading costs and minimum deposit requirements. Join in 30 seconds.
- Coinbase – Coinbase is the easiest place to buy, sell, and manage your cryptocurrency portfolio.
|ExpertOption offer digital trading on Forex, Cryptocurrencies, commodities, indices and stocks. This high risk / high reward trading is only available to certain regions.|
Expert Option vs Other Brokers
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