Located in Port Villa, Vanuatu, ExpertOption is a binary options trading platform that offers the ability to trade a wide variety of financial assets, including commodities, currencies, cryptocurrencies, and stocks.
ExpertOption started in 2014, has over 13 million accounts, and is regulated by the Vanuatu Financial Services Commission (Lic. 15014).
But the questions most people ask are:
“Can ExpertOption be trusted?”
“Is it safe for me to invest my money with ExpertOption, or are they just another scam broker?”
The purpose of this ExpertOption review is to answer these questions as completely as possible.
ExpertOption – High-Level Overview
Easy to use platform that provides access to more than 100 asset classes such as cryptocurrencies, stocks, and currencies.
Available stocks include Apple, Facebook, McDonald’s, Alphabet, and many others.
Professional market analytics allow clients to optimize their profitability by making informed decisions.
Social trading allows in-depth performance data on other traders and the functionality of copying their trades in real-time.
Advanced technical analysis tools allow clients to evaluate charting data and key indicators with the push of a button.
The trading platform used at ExpertOption is user-friendly, proprietary, and exclusive. That means only registered clients can use this platform. Execution rates are high-speed and accurate. The platform is available 24 hours a day. They also offers a mobile trading app available on the Apple App Store and Google Play.
ExpertOption offers five different trading account types:
The Basic account at this traders is designed for traders who want to start trading binary options with only a small investment. New clients can open a Basic account with only a $50 deposit, which gives them access to educational materials and the ability to place deals once the deposit has cleared.
The Silver account type is a more advanced version of the Basic account type. In general, the features are mostly the same; however, there are higher limits to depositing as well as the trade volume available. For example, the Silver account can trade a total of $250 (Basic can only trade $25) and execute up to 25 simultaneous trades (Basic is limited to 10). Beyond that, Silver account holders have access to a personal account manager, which the Basic accounts do not.
The Gold account type is reserved for more experienced traders who intend to trade in larger volumes. The minimum deposit amount for a Gold account holder is $2500, which provides them with some additional features that the Basic and Silver accounts do not have.
For example, customers that have a Gold account receive curated market reviews that are estimated to have at least 2% profitability. Gold account members can place up to 30 simultaneous trades, and their withdrawal requests are processed at a higher priority than the Silver and Basic accounts.
Customers are offered the Platinum account if they deposit at least $5000. While many of the features of the Gold and Platinum account are identical, Platinum account holders have no limitations on the number of simultaneous trades, and their total estimated profitability is increased to 4%.
The Exclusive account type is by invitation only. Customers who have the Exclusive account type have an increased profitability rate of up to 6% and can make trades of over $5000 at a time. One of the most notable benefits is the priority customer support for Exclusive account holders.
Like many other binary options brokers, EO offers a demo account which serves many purposes. For example, for beginning traders, a demo account is an excellent place to begin testing strategies and learning how to trade options without the fear of loss. Also, for more experienced traders, the demo accounts can serve as a testing ground for new strategies or the application of new indicators. Opening a demo account with ExpertOption provides a virtual balance of $10,000.
Promotions and Offers
As of February 2020, ExpertOption does not offer any promotion or bonuses in any form. However, they do have an affiliate program that can be applied to. ExpertOption offers between 50% and 60% of its revenue to the affiliate partners in proportion to the number of clients the affiliate partner has directly brought in to the brokerage. An important note, however, is that affiliate agreements can be very complex. Be sure to carefully study the affiliate agreement before becoming involved in any affiliate activities.
ExpertOption offers a wide variety of educational materials to its clients. Some of those materials include video tutorials, webinars, and an extensive glossary giving definitions and explanations for various training strategies. These educational materials are intended to help traders understand the psychology of trading and, also, have access to news updates and daily market analysis.
Deposits and Withdrawals
ExpertOption offers a wide variety of payment methods for clients to initiate their deposits. Some of those options include credit or debit cards on the Visa or MasterCard systems. In addition, many other services such as Skrill, Neteller, Perfect Money, FasaPay, Maestro, UnionPay, and other e-wallets can be used to initiate deposits into the account. These include e-wallets containing cryptocurrencies such as Ripple, Litecoin, and Bitcoin.
Initial deposits must meet a minimum value of $50, and each trade must have a minimum amount of $1. The minimum withdrawal amount is $10, with ExpertOption charging as little as 5% of the withdrawal amount.
Regulation And Security
ExpertOption is fully regulated by the Vanuatu Financial Services Commission and complies with all applicable laws. Client funds are held in segregated accounts by investment-grade banks. High-level encryption is in place at all times and at every level of ExpertOption services.
Different from many Forex brokerages, ExpertOption offers customer service support 24 hours a day. Their customer support can be reached through telephone, live chat support, or email. Emails can be sent to [email protected], and calls can be made to +44 20 3868 3160. Beyond that, the main ExpertOption website is available in 12 different languages.
Is ExpertOption A Scam?
The short answer is, “No, ExpertOption is not a scam.” ExpertOption is regulated by several top authorities and is designed to allow low barriers for anyone to start binary options trading. It also provides high-class premium accounts along with 24-hour customer support to their clients.
The user-friendly platform helps traders benefit from the advanced analytical tools so that they can make decisions that increase their profitability. The safety and security of client funds an ExpertOptions makes it an excellent choice for beginning and expert binary options traders.
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