Review of ExpertOption Binary Broker – Scam or Legit?

ExpertOption is one of leading binary option brokers, offering fast online trading services in a range of financial assets. It is also one of the leading social trading platforms. The broker aims to provide transparent digital trading experience to its clients all over the world. Established in 2014, the broker fully complies with the rules and laws set by the Financial Market Regulations Center (FMRC).

ExpertOption is headquartered in Estonia with its regional offices located in Cyprus, Ukraine, Russia, Thailand, and India. The broker, however, doesn’t accept clients from the European Economic Area, Israel, Switzerland, Australia, Japan, New Zealand, Puerto Rico, Sudan, North Korea, North America, and the USA. The broker holds regulation from Vanuatu Financial Service Commission – VFSC.

Trading Platform

trading software

ExpertOption offers a custom-developed and user-friendly desktop trading application. Ensuring smooth trading conditions, the platform offers lightning-fast execution of trades together with accurate price feed. Clients can access the platform round the clock even on weekends.

Considering the needs of on-the-go users, ExpertOption also offers a mobile trading app which is available on Google Play and Apple’s App Store.

Key Features

Given below are some key features offered by the ExpertOption’s trading platform;

  • Clients can trade professionally using advanced technical analysis tools that comprise of trendlines, three chart types, and so many built-in indicators.
  • Clients can also access a wide range of stocks including but not limited to Facebook, Apple, Google, McDonald, and some other big names.
  • Social trading is another great feature offered by the broker. It enables clients of ExpertOption to view an in-depth performance of other traders and copy their trades in real-time.
  • Accessibility to a wide range of trading functions allows the client to trade with full confidence.
  • Market analytics help clients make informed decisions and optimize their profitability.
  • Easy to operate with instant access to more than 100 assets including stocks, currencies, and cryptocurrencies. Real-time live quotes are yet another promising feature of the Expert Option trading platform.

Account Types

types of accounts

The broker offers fives types of trading accounts;

  • Basic
  • Silver
  • Gold
  • Platinum
  • Exclusive

Let’s go through each account type one by one.

Basic

It’s a basic account offered to those who wish to start binary options trading with a small investment. Clients need to deposit only $50 to open a basic account. Educational materials and ability to place a maximum of ten simultaneous deals with an upper limit of $25 each are some key features of this account type.

Silver

It’s an advanced version of the basic account with some additional features for customers depositing $500 or more. In addition to the features available in the basic account type, the Silver account offers maximum trade volume of $250 and limits a simultaneous number of trades to 25 instead of 10. Similarly, availability of personal account manager is another main benefit for silver account holders.

Gold

This is relatively a modern class of account usually reserved for experienced traders looking to trade big volume. Gold account holders are required to deposit a minimum amount of $2500 to enjoy some additional perks not available in basic and silver account types. Customers having a gold account with ExpertOption are provided with daily financial research and market reviews with an estimated 2% profitability. Gold account members are allowed to place 30 simultaneous trades and a maximum trade volume up to $1000. In addition, withdrawal requests of gold customers are also facilitated on a priority basis.

Platinum

Investors with high deposits are offered Platinum account type at ExpertOption. It requires a minimum deposit of $5000. Perks offered in the platinum account type remains same as that of Gold account, however, platinum account holders don’t have to observe any limitation concerning the number of simultaneous trades. The maximum deal amount is also leveled up to $2000 with a profitability ratio increased to 4% for platinum users.

Exclusive

It is not available for everyone, only those who are invited to have this account type can enjoy the perks of exclusive account. Customers having Exclusive account type can enjoy increased profitability ratio of up to 6% and maximum deal amount of $5000. Priority customer support is the most prominent feature of the exclusive account type.

ExpertOption Demo Account

Owing to needs of all stakeholders, the broker has demo accounts available. Clients with little or no previous experience of binary options trading can have a chance to practice different trading strategies without the fear of loss. Skilled traders can also take advantage of demo accounts by learning new trading strategies or technical indicators. The broker provides a virtual balance of $10000 in demo account.

Bonus Offers & Promotions

As of writing this review, ExpertOption is not offering any bonus offers or promotions. However, an affiliate program is in place by the broker for those who are willing to work in collaboration with the company for advertisement purposes. The broker offers 50% to 60% of its revenue to its affiliate partners.  It is to be noted that affiliate programs usually involve complex terms and conditions concerning compensation, therefore, must be evaluated with due care before any collaboration.

Education

ExpertOption provides valuable online educational resources to its clients, allowing them to learn the basics of binary options trading. Ranging from video tutorials to online webinars and glossary section to detailed text briefing on various trading strategies, ExpertOption allows people learn the psychology of trading. The broker also offers daily market analysis and news updates.

Deposit and Withdrawals

deposits and withdrawals

ExpertOption offers fast deposit and withdrawal operations. A range of payment methods is offered by the broker to help clients avoid any inconvenience. Clients can make deposits using their credit or debit cards supported by VISA or MasterCard. Likewise, e-wallets can also be used for making payments. The broker also supports payments through Neteller and Skrill accounts. Other payment options such as web money, perfect money and most importantly payment using cryptocurrencies (Bitcoin, Ripple, Litecoin) are also acceptable at ExpertOption.

Clients are allowed to deposit a minimum of $50 to get started. The minimum amount to be invested in a single trade is $1. Customers are not charged for any transaction. However, the minimum amount allowed to withdraw is $10. The broker offers a payout percentage of up to 95% of the amount invested in a trade.

To be able to withdraw funds, clients need to login into their account and press the “finance” tab on the operating interface of the platform. Withdraw funds option is available next to payment history on the top right-hand side of the panel. It takes 24-48 hours for the broker to process withdrawals.

Regulation & Security

Expert Option holds a certification concerning the compliance with all applicable laws in place by FMRC. It is fully regulated by Vanuatu Financial Services Commission – VFSC. Client’s funds are held with investment grade-A banks in segregated accounts. To protect the sensitive information of all stakeholders, the broker has HTTPS web protocols and SSL encryption in place.

Customer Support

online trading platform

ExpertOption provides excellent customer services to its clients round the clock. The company can be reached using different methods of contacts including telephone, email or live support. Clients can call on +44 20 3868 3160 to have a telephonic conversation with the company’s officials. Emails can also be sent on english@expertoption.com. A live support feature remains accessible round the clock to provide instant customer facilitation to visitors and existing clients. To help people coming from different regions, the official website of ExpertOption can be accessible in twelve major languages of the world.

Is ExpertOption a Scam?

Expert Option is an FMRC authorized broker that holds a license from one of the world’s reputable regulatory body VFSC. It is definitely not a scam broker. ExpertOption allows everyone to start binary options trading by offering low-deposit accounts as well as high-class premium accounts. It provides round the clock customer support and offers a complete range of trading tools which are deemed necessary for purposeful trading.

The broker is also well known for its user-friendly trading platform. The platform equips traders to take advantage of advanced analytical tools to make informed decisions. The security of clients’ funds and fast withdrawal procedure makes ExpertOption a prime choice of binary options traders.