ExpertOption Review; A Binary Trading Platform
ExpertOption was founded in 2015 and registered in Saint Vincent and the Grenadines, 1510, Kingstown, Suite 305, Griffith Corporate Center. Since they are really based in Russia, they are certified with FMRRC, Financial Market Relations Regulation Center, a non-governmental voluntary oversight agency. Their certificate number is: 0395 AA Vv0084. They claim to be regulated by VFSC, Vanuatu Financial Services Commission, another off-shore and untested regulator. Their contact number in English is: +44 20 3868 3160. ExpertOption does not provide services to clients from the following countries: USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, Korea, Puerto Rico and Sudan. The full list is mentioned under their “terms” and it pretty much includes all countries that require a local regulatory certification.
Is ExpertOption a Scam?
ExpertOption comes off as transparent providing their certificate number and information. They are also regulated with FMRRC and VFSC. FMRRC is a non-official “regulator” based in Russia. This organization is created for the purpose of regulating brokers. However, unlike with CySec we can’t really be sure how strict FMRRC is when it comes to monitoring brokers or if they are even for real.
What Features are Offered by ExpertOption?
- ExpertOption trading platform – The platform has been solely developed and is used exclusively by ExpertOption broker. In the trading industry, the vast majority of brokers use software designed and built by other service providers but not ExpertOption. Their proprietary software is very easy to use, with a straightforward layout and interface making it appropriate for both new and seasoned traders alike. The software also includes features which enable traders to take on and perform a few technical tasks which help in improving their profits per trade while at the same time swiftly executing transactions.
- Educational material – The broker’s website is loaded with lots of educational and informative material which is part of its ’Education’ section. The material is enough to help a newbie trader get up and trading in a short time. Whether they are interested in trading binary options, indices or currencies the material offers some advice and strategy for each type of trade. In addition, a glossary of various technical and commonly used trading terms along with analytical information rounds off its well stocked ’educational’ section.
- Mobile trading platform – The mobile trading platform offered by ExpertOption is an efficient trading tool which helps traders execute trades within seconds. The platform is available as an app which can be downloaded from Google Playstore for Android devices, and iOS users can download the app from AppStore. The app is an especially good option for traders who move around a lot but need to execute trades regardless of where ever they may be.
- Assets – The broker offers a number of different trading assets which include Forex trading pairs, Gold & Oil, Commodities, and Indices. Market Indices happen to be some of the most popular assets traded by many using the platform especially since it includes firms on the S&P500.
- Endless supply of trading signals – The platform is designed so that traders receive a steady and almost endless supply of trading signals. The alerts and signals can help traders execute relatively profitable trades. The signals will alert traders as to when a ’Strong Buy’ is a good idea when staying ’Neutral’ makes more sense, how much to ’Strong Sell’ and ’Sell.’ The signals are very important for people who trade binary options as it helps them make the right decision.
Should I open an Account with ExpertOption
You can open an ExpertOption account with only 50$ which is a fairly low amount or start with their relatively big demo account of 10,000$. The maximum investment amounts per trade are very low at: 50/100/300/1000 for each account type, Mini, Silver, Gold and VIP.
Bonuses range from 50% up to 125% depending on account type and a volume of 50 times your bonus must be reached before you can withdraw your own deposit and/or the bonus. The bonus can only be cancelled before you have started using it.
ExpertOption Trading Software
The ExpertOption trading interface is very user-friendly. It provides a good overview of the how to trade. On the platform, a trader can choose different assets like currency pairs, indices, and commodities (gold and crude oil).
Unfortunately, this broker only offers short term expiry times which leaves many traders wanting more.
When it comes to mobile trading, ExpertOption only provides a smartphone and tablet app for iOS devices. It currently doesn’t have an app for the Android devices but hopefully, they will roll it out
ExpertOption Banking and Company Info
ExpertOption has allowed their traders to use some of the very popular banking methods there is. Traders have the liberty to withdraw their money or deposit money into their trading accounts by using:
- bank wire
- Perfect Money
The trader should use the same payment method for both depositing and withdrawing.
The minimum withdrawal with this broker is only $10. All withdrawals are processed within a span of 2 days.
In conclusion, this broker seems very professional and worthy of testing out.
- Low minimum deposit
- High maximum returns
- Easy to use for beginner traders
- No customers from the USA accepted
The financial products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.