Expert Option Review 2023
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ExpertOption offers digital trading on forex, cryptocurrencies, commodities, indices and stocks. The user-friendly trading platform is ideal for beginners and novice investors.
and 10 more
Expert Option is a well-known binary options broker providing access to 100 assets with a $5 charge on winning trades.
Trade some of the most popular forex pairs with leverage up to 1:30
Trade the most popular stocks including McDonald's, Facebook, and Apple
Trade three of the biggest cryptocurrencies.
You can study and copy the positions of established VIPs to increase potential returns
ExpertOption is a popular online broker offering digital options and financial trading. This 2023 guide covers the deposit and withdrawal process, investing platform, account types, plus demo trading solution. In addition, we explore the Expert Option app in our mobile trading review.
Expert Option began providing services to traders in 2014 and currently executes over 30 million deals each month. The company’s services are available in 48 countries, and at the time of writing, the brand has more than 70 million registered users worldwide.
ExpertOption offers a variety of intuitive platforms, with the choice to trade via the web, mobile app, or dedicated desktop terminal.
While many brokers choose an existing platform (typically MetaTrader 4 or MetaTrader 5), Expert Option created its own platform that is fully customizable and can be tailored to the needs of each client. All features are easily integrated, whether the user is investing via a desktop or mobile device.
Multiple signals and analysis tools are available, including;
- Eight indicators
- Four chart types
- Multiple trend lines
The platform also supports social trading, a helpful feature where clients can monitor and copy the deals of top traders to maximize profits.
Assets & Markets
ExpertOption supplies more than 100 of the most popular and widely traded instruments, including stocks, commodities, currency pairs, futures, and cryptos.
Among the brand’s most popular assets include equities (McDonald’s, Facebook, Apple), commodities (gold, platinum, silver), top forex pairs (USD/EUR, GBP/USD, EUR/GBP), and cryptos (Bitcoin, Bitcoin Cash, Ethereum).
Spreads & Commission
Expert Option charges a commission of $5 on any winning trades. When it comes to payouts, the brand takes up to 5%, which is below the industry standard of 15%.
Importantly, spreads vary depending on the type of account, though they can be as low as 0.1 points. It is also worth noting that spreads increase or decrease with market conditions.
Expert Option is completely free to join. There are no fees associated with trading, except a commission on winning trades and an overnight swap fee. With that said, there is an inactivity fee of $10 a month.
Leverage rates with Expert Option vary depending on the instrument and market.
For most forex pairs, such as the EUR/USD, leverage is set at 1:30. This level is imposed following rules and regulations set out of by the European Securities and Markets Authority (ESMA). Minor forex pairs like EUR/NOK, NZD/USD, AUD/CAD, USD/SGD, and EUR/PLN, offer leverage up to 1:20.
Note, maximum leverage for non-ESMA regulated countries is 1:500.
Expert Option 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 APK install file direct from the official website. Each mobile app is highly rated in their respective stores.
Our app review was impressed with the quick withdrawals, access to a free demo account, and the array of over 100 instruments complete with professional investment conditions. With that said, those who want to get a little more technical should stick to the dedicated desktop app or web platform.
Expert Option Payment Methods
ExpertOption provides users with several deposit and withdrawal methods, which helps make the brand inclusive for traders worldwide.
Keeping the minimum deposit at $10 allows investors from all walks of life to join the platform and start their trading careers. Deals can be made for a minimum of $1 and you can deposit in any local currency. The maximum deposit amount is $5000 while the broker recommends that bigger sums are split into several transactions.
The deposit process benefits from the 20+ payment systems, providing a convenient solution for investors wherever they are based.
Some of the most popular payment options include:
- Wire Transfers
- Perfect Money
- India Online Banking
- Cryptocurrencies like Bitcoin, Ethereum and Ripple
Note, the broker doesn’t accept PayPal.
ExpertOption has streamlined the payment process so that requests are fully processed within two business days (Monday – Friday). 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, account verification is required before any withdrawal is approved. The first withdrawal can only be processed through the same payment method as the deposit.
Expert Option provides a demo account for its clients to hone their skills and explore the platform before investing real money. Demo accounts come with a balance of $10,000. All you need to do is choose ‘create account’, then ‘login demo.’
Bonuses & Promotions
The platform offers a 100% welcome bonus on first-time deposits starting at $30. Traders have precisely one hour following the creation of their account to take advantage of the offer.
Perks are also available to existing traders, though the offer percentage differs from those who are depositing for the first time.
Importantly, bonuses cannot be withdrawn; they can only be utilized on the site’s platform, though you are allowed to take out any profits earned.
Regulation & Licensing
Expert Option is currently licensed by the Financial Services Authority of St. Vincent and the Grenadines (SVGFSA), which allows the company to provide financial services globally. This isn’t the most reputable regulator due to its offshore status.
The brokerage is also part of the Financial Commission Compensation Fund. This covers up to €20,000 per customer if Expert Option fails to comply with the Financial Commission’s rulings.
ExpertOption features an informative education section on its website which is suitable for investors of all experience levels. Customers can learn about stock indices, currencies, binary options, and detailed strategies.
The primary sources of educational materials are webinars, video tutorials, and in-depth articles, all of which can help traders better understand market signals, how indicators work, and plenty more. In addition, investors can browse a comprehensive glossary of all relevant trading terms and their definitions.
But perhaps one of the most innovative aspects of the Expert Option platform is social trading, where users can study the actions of VIP traders and get inspired to try out new strategies. For a fee, users can also replicate the positions of seasoned professionals.
After an easy registration process, ExpertOption provides six different types of accounts:
- $10 minimum deposit
- 24/7 trading access
- Educational materials
- $50 minimum deposit
- Access to privileges
The most popular choice. All the Basic features plus:
- Free consultations
- $500 minimum deposit
- Personal account manager
- Daily market reviews and financial research
All the Silver features plus:
- Priority withdrawals
- $2,500 minimum deposit
- Increased asset profit of up to 2%
All the Gold features plus:
- 1 to 1 training
- Account management
- $5,000 minimum deposit
- Increased asset profit of up to 4%
- Trading signals from an analytical agency
- Unlimited number of simultaneously open deals
All the Platinum features plus:
- By invite only
- Access to strategies
- Wealth creation plan
- Senior account manager
- Increased asset profit of up to 6%
All deposits count towards increasing a trader’s overall account type/ status, so you can work your way towards achieving a Gold or Platinum account over time.
Advantages of investing with Expert Option include:
- Good customer service
- Personal account managers
- Trade on many instruments
- Low minimum deposit (just $10)
- Several different funding options
- Large bonuses (for Non-EU clients)
- Access via desktop and mobile apps
- No commission on deposits and withdrawals
- Intuitive platform which is easy to use for beginners
- Good analytical tools to help facilitate smarter trading
- Large maximum returns (up to 95% of winning trades)
- Lots of educational materials to suit traders of all experience levels
Downsides of opening an Expert Option account include:
- No MT4 or MT5 support
- Inactivity fee ($10/ month)
- Short-term trading options
- US trading is currently not accepted
The ExpertOption platform is open 24 hours a day, 7 days a week, 365 days a 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. While Expert Option can be accessed whenever you choose to login, trading is limited to the hours when markets are open.
For example, the London forex market is open between 7 AM to 4 PM GMT. In contrast, the New York forex market is open between noon to 8 PM GMT. Sydney operates between 10 PM to 5 AM GMT, while the Tokyo market opens between 11 PM to 8 AM GMT.
The platform also benefits from a reliable customer service department ready to assist 24/7. Several methods can be used to reach the team, namely the live chat facility (logo located at the top of the page), which provides traders with near instant support in numerous languages. This is in addition to the email ticketing system, contact form, and phone support.
VBV and MasterCard verification standards are implemented for data protection purposes. Your bank card must also have 3D Secure enabled in order to deposit and be eligible for international payments.
Transactions are also PCI DSS Compliant – following bank security standards, meaning all your data is encrypted, private, and never stored on their servers. In addition, the broker employs ALM (anti-money-laundering) and KYC (know your customer) policies.
Expert Option Verdict
Expert Option trading reviews agree that the platform provides an innovative investing experience. The brokerage is packed full of the latest features and developments in online investing; from a clean UI and responsive interface to the in-depth educational materials and even social trading.
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, Russian Federation, Singapore, Bulgaria, United Kingdom, France, Germany, Ireland, Denmark, Sweden, Portugal, Norway, Iceland, Spain, Yemen, Italy, Puerto Rico, Iran.
- Yandex Money
- Wire Transfer
- Perfect Money
- Bitcoin Payments
Expert Option Details
|Mobile Apps||iOS and Android|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Trade Signals||Only for Platinum and Exclusive accounts|
|Guaranteed Stop Loss||No|
Forex Trading Details
|GBPUSD Spread||$5 on any winning trades + 5% on payouts|
|EURUSD Spread||$5 on any winning trades + 5% on payouts|
|EURGBP Spread||$5 on any winning trades + 5% on payouts|
Cryptocurrency Trading Details
|Crypto Spread||$5 on any winning trades|
|Crypto Auto Market Maker||No|
Binary Options Trading Details
|Expiry Times||60 seconds – 5 minutes|
Compare Expert Option
Compare Expert Option with similar brokers that accept traders from your location. Among available brokers these are the most similar to Expert Option:
World Forex – World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Go to World Forex
RaceOption – RaceOption is a binary options and CFD platform offering trading contests and prize giveaways.
Go to RaceOption
BinaryCent – Deposit and trade with a Bitcoin funded account. BinaryCent offers binary options, FX and CFD trading. 1:500 leverage is also available.
Go to BinaryCent
Expert Option Comparison Table
|Expert Option||World Forex||RaceOption||BinaryCent|
|Markets||Options, stocks, commodities, forex, crypto, futures,||Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts||Binary Options, CFDs||Forex, Stocks, Commodities, Crypto|
|Minimum Trade||$/€1||0.01 Lots||¢0.01||¢0.01|
|Bonus||100% deposit bonus||100% Deposit Bonus||20% – 200% Deposit Bonus||20% – 200% deposit bonus|
Compare Trading Instruments
Compare the markets and instruments offered by Expert Option and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
|Expert Option||World Forex||RaceOption||BinaryCent|
|Expiry Times||60 seconds – 5 minutes||1 minute – 7 days||5 seconds – 30 days||5 seconds – 30 days|
Expert Option vs Other Brokers
Compare Expert Option with any other broker by selecting the other broker below.
Is Expert Option Real Or Fake?
The broker is legitimate and not a scam. A variety of cryptographic algorithms are employed to ensure client data is stored securely. The brokerage is also licensed by the Financial Services Authority of St. Vincent and the Grenadines (SVGFSA) and is part of the Financial Commission Compensation Fund.
Does Expert Option Have Bots?
Yes, the robot allows you to automate your trading on both demo and live accounts. You can download it from the official website.
Can I Trade On ExpertOption From India?
Yes, Expert Option is legal and available in India, alongside many other countries like South Africa and the Philippines.
Does ExpertOption Give Payment Proof?
You can find your payment or withdrawal proof in the ‘payment history’ section of your account.
What Is The Best ExpertOption Strategy?
The educational materials provided by the broker offer many tips and tricks. The best winning strategy is the one that suits your investment style and risk appetite.
Can You Still Trade On ExpertOption?
Currently, the platform can be accessed from most locations worldwide. However, Expert Option is not authorized to accept citizens of the following regions: European Economic Area, USA, Canada, Israel, Australia, Russia, Switzerland, New Zealand, North Korea, Puerto Rico, Iran, Singapore, and Yemen.
|ExpertOption offers digital trading on forex, cryptocurrencies, commodities, indices and stocks. The user-friendly trading platform is ideal for beginners and novice investors.|