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ExpertOption - Broker Review and Trader Feedback

regulation
Regulated by VFSC and FMRRC
region
Accepts traders from
United Kingdom
rating
4.5
/ 5
Rating: 5
Reviews: 0
bonus
Free educational materials
Register within 10:00 minutes and receive a gift
ExpertOption is a recently established binary options trading platform that is based on the islands of St. Vincent and the Grenadines. The ExpertOption brand is owned by the holding company with the same name. Their registered office is located at Suite 305, Griffith Corporate Centre, Kingstown, St Vincent and the Grenadines. It is however, authorised and regulated by the Vanuatu Financial Services Commission (VFSC) and supervised by the FMRRC organization. Management of the trading platform operations is conducted through a Cyprus based company called Vested LP. ExpertOption was founded with the objective to offer clients binary options trading services for currencies, commodities, equities and market indices. What makes ExpertOption different from other binary brokers in the industry is the fact that they also offer social trading on their trading platform. Full review
Trading conditions
Tradable assets:
Option profitability:
Minimum deposit:
Minimum trade amount:
50
up to 95%
$50
$1
Demo account:
Online registration:
Call support:
Chat with support:
yes
yes
+44 20 3868 3160
yes
Tradable assets:
50
Option profitability:
up to 95%
Minimum deposit:
$50
Minimum trade amount:
$1
Demo account:
yes
Online registration:
yes
Call support:
+44 20 3868 3160
Chat with support:
yes
Deposits and Withdrawals
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Review of ExpertOption
Broker rating: 4.6 / 5

1. General Information

Although a new entrant to the binary options industry, ExpertOption is fast becoming a well known brand among the binary options trading community. While the services offered by ExpertOption are available on other binary platforms, they have managed to differentiate themselves by providing their traders with the ability to conduct social trading. This makes ExpertOption one of the handfuls of new binary brokers that is able to provide social trading to their clients. Social trading has in fact been around for a few years among spot forex brokers. But this form of trading is a new concept for binary options traders as it was only recently that the platform providers and brokers have decided to incorporate social trading onto their trading platforms.

ExpertOption is regulated by the Vanuatu Financial Services Commission, an agency that was established in 1993. This small island has become increasingly popular among forex and binary options broker to locate their operations, due to the numerous tax benefits Vanuatu has to offer. For example, companies established on Vanuatu do not have to pay any income tax or capital gain tax.

In addition to the regulatory oversight provided by VFSC, the Russian Financial Market Relations Regulation Center (FMRRC) also supervises ExpertOption. This is an independent organization that monitors and regulates the financial services industry in order to ensure that its members maintain the quality of the services they provide. Its key objectives are to provide traders with maximum security as well as to provide its members with compliance certification.

2. Advantages and Disadvantages

Supports multiple types of trading platforms: Their trading platform is support on Windows, MacOS, Android and iOS.

Support Social Trading: ExpertOption’s trading platform is one of the handfuls of binary options trading platforms that can support social trading in real time.

Regulated by VFSC and FMRRC: Being regulated by 2 different regulatory bodies gives traders the peace of mind that their money will be safe with ExpertOption.

Free Demo Account: The demo account requires no registration and can be accessed with a single click of the mouse.

Limited number of assets: At present, ExpertOption only has around 50 different types of underlying assets for their clients to choose from.

Only High/Low options available: Most binary options brokers are currently offering their traders 4 to 5 different options contracts.

3. Trading Conditions

At ExpertOption, they have made it easy for anyone to open a trading account while at the same time earn high returns, trading the markets. For example, the MINI trading account designed for beginner traders, only requires a low minimum deposit of $50 to open. This is not including the 50% deposit bonus which the trader will receive once he has deposited his funds into his trading account. With a live trading account, the trader can begin trading live and earn returns as high as 92% for example by trading the GBP/USD currency pair.

4. Underlying Assets

As for the underlying assets which are available for trading at ExpertOption, there are 4 asset classes which traders at ExpertOption can deal in. These include currency pairs, commodities, market indices and equities. Altogether, there are around 50 different types of underlying assets to choose from at ExpertOption.

5. Trading Platform

As for the trading platform which ExpertOption has provided its clients, it is a web-based trading platform which has been developed in-house. The trading platform is available in 4 different versions.

For the desktop version, ExpertOption has provided two platforms, one that supports the Windows operating system and one that supports MacOS. For the demo version, it is available as a web based trading platform, so users do not have to wait to download the software to install onto their desktop computers.

What is really interesting about ExpertOption’s binary option trading platform is the fact that it has an integrated social trading capability. On the trading chart, you can see in real time who is taking up a position in the market and who is liquidating their positions.

6. Mobile Trading

Mobile traders are also not forgotten, as ExpertOption has provided mobile trading apps which are optimized for Android and iOS powered devices. The mobile trading apps can be easily downloaded from Google Play Store and Apple’s App Store. The mobile traders are full featured apps which are popular in 47 different countries.

7. Demo Account

As mentioned earlier, ExpertOption has also provided potential traders with the use of a demo account. It is web based and easily accessible without requiring any download or installation. It also comes preloaded with $10,000 virtual cash which you can utilize for your paper trades. What is nice about ExpertOption’s demo platform is the fact you don’t even have to register to access it. Just simply click on the “Try Demo” button on the homepage to log on to the demo platform.

8. Account Types

As for the types of trading accounts that have been provided by ExpertOption, there are 4 types. They are the Mini Account, the Silver Account, the Gold Account and the VIP Account.

The Mini Account

This account type requires a starting deposit of $50. It offers free educational materials, 50% deposit bonus, 24/7 customer support. It allows 10 maximum simultaneous positions and $50 maximum trade size.

The Silver Account

This account type requires a starting deposit of $250. It offers free educational materials, 80% deposit bonus, 24/7 customer support, personal manager. It allows 50 maximum simultaneous positions and $100 maximum trade size.

The Gold Account

This account type requires a starting deposit of $1000. It offers free educational materials, 100% deposit bonus, 24/7 customer support, personal manager, increased payouts, expert consultations, priority withdrawal, there is no limit for maximum simultaneous positions and the maximum trade size is 300$.

The VIP Account

This account type requires a starting deposit of $2500. It offers free educational materials, 125% deposit bonus, 24/7 customer support, personal manager, increased payouts, expert consultations, priority withdrawal, there is no limit for maximum simultaneous positions and the maximum trade size is 1000$.

9. Opening an Account

To open an account at ExpertOption, simply click on the “Real Account” button located on the top right hand corner of the homepage, fill in the details on the form and the click “Open Account”. Alternatively, you can also open an account by logging in with your Facebook or Google+ account.

10. Funds Withdrawal

As for the funding of the trading account, ExpertOption has provided more than 20 different methods. Traders can withdraw funds through the Credit/Debit cards such as VISA, MasterCard or Maestro. They can also withdraw funds through their eWallets such as FasaPay, Perfect Money, Skrill, Neteller, WebMoney, QIWI, Yandex and PayWeb. Take note that for traders holding Gold or VIP accounts, they have priority withdrawal privileges.

11. Trader Training

In terms of trading education, ExpertOption have provided their traders with a fairly comprehensive library of educational resources. These resources are categorized into 5 different categories:

    • Trading Strategies
    • Technical Analysis
    • Fundamental Analysis
    • Graphical Analysis
    • Psychology of Trading

ExpertOption also provides a glossary for traders to refer to the various terms and terminologies used in binary options trading.

12. Should I Trade With ExpertOption?

With the number of binary options brokers increasing daily on the internet, it is often difficult to tell which of these binary options brokers can be trusted and relied upon unless we have personally tried their services. However it is not practical for a beginner trader to take this approach as he will quickly diminish his capital. Instead, a more sensible approach would be to rely on the reviews that review sites like us have conducted, so you can focus more on vetting the reviews rather than spending your money on trying out each and every individual broker that you come across on the internet.

In the case of ExpertOption, we have concluded that ExpertOption is a legitimate binary options broker. The broker has proven its reliability by having their operations regulated and supervised by two different regulatory bodies. In addition, the quality of their services and product offering has met the standards of most leading binary options brokers in the industry. They have also gone to the extent of developing their own proprietary trading platform and that shows their commitment towards maintaining a long term relationship with their clients. For beginner traders, we highly recommend ExpertOption as the broker to start their binary options trading careers, due to the tools and facilities that this broker has made available to novices, so they can enhance their trading knowledge.

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