ExpertOption has been trying to increase its stature in the binary options market through numerous promotional campaigns and a reasonably good binary options product. If the company can concentrate on improving several aspects of its brokerage, ExpertOption can be considered as one of the best companies in the market today.
ExpertOption Review Introduction
The binary options trading market is a fast-paced industry that sees the rise and fall of numerous companies that aim to take advantage of the ludicrously profitable binary options market. While there are companies that have been operating with integrity and honesty ever since the inception of the exotic financial market, several binary options trading companies have chosen to indulge in financial scams and malpractices to make a quick buck.
Regardless, ExpertOption is a new addition to the long list of binary options brokers that are currently offering their services to investors throughout the world. ExpertOption does things a bit differently, and it is evident that the company is aware of the numerous pitfalls that plague new brokers. Therefore, in order to reinforce a feeling of trust and confidence among traders, ExpertOption has created a competitive financial product that is guaranteed to offer one of the best binary options accounts that are currently available in the market.
It is our duty to evaluate the ExpertOption trading claims in a proper manner, and we do our best to put the company through its paces to form an informed opinion. Our ExpertOption broker review should contain all the vital information that is relevant to all the essential requirements of the modern trader.
ExpertOption Licensing & Regulatory Information
ExpertOption is a regulated binary options broker and is keen to provide verified proof of its regulatory licenses with the Vanuatu Financial Services Commission and the Financial Market Relations Regulation Center of Russia. Vanuatu is a lesser-known jurisdiction in the financial market, having been popular among companies due to its tax-haven status and low business set up costs. Russia, on the other hand, may be unable to match the stringent regulatory requirements that are usually imposed on companies located in the EU and the US. Therefore, we can’t consider ExpertOption regulatory status to be at par with the standards set by other leading binary options trading companies from the US, the EU, and the Asia-Pacific.
Despite the lower regulatory protection, ExpertOption does try hard to match the services offered by its immediate competitors that are regulated by much stricter authorities. ExpertOption does ensure the safety of its clients’ investments and provides multiple assurances that the traders’ funds will be held safely and securely in segregated accounts. We did find out that the company has managed to impress its clients by accumulating close to 3.25 million real live accounts since the company’s launch in 2014.
The broker has expanded its presence to 150 countries and enjoys a considerable amount of trade volumes, which aggregates to around over 30 million deals per month. However, traders must realise that ExpertOption does not offer its services to clients from the USA, Canada, the EU, Switzerland, Israel, New Zealand, Australia, Japan, Korea, Puerto Rico, and Sudan. All the countries provided in the list, except Korea, Puerto Rico, and Sudan, have tough rules governing binary options trading, and all financial companies located in these regions have to adhere to strict regulatory guidelines. Therefore, ExpertOption should consider setting up a branch establishment in any of these countries to enjoy more popularity and credibility in the global financial markets.
ExpertOption Assets & Tradable Options
There are over 100 assets to choose from and includes Forex, commodities, stocks, and indices. The list of tradable instruments for ExpertOption clients is not as great as other companies, but it still offers a rather varied portfolio to invest in different underlying assets through the ExpertOption platform. To get a fair idea of the diversity of instruments that are offered to traders, we have compiled the most popularly traded underlying instruments at ExpertOption:
Bitcoin LiteCoin EUR/USD (OTC) GBP/USD (OTC) USD/JPY (OTC)
USD/CHF (OTC) EUR/GBP (OTC) AUD/USD (OTC) USD/CAD (OTC)
NZD/USD (OTC) EUR/JPY (OTC) EUR/CAD (OTC) Gold (OTC) Brent Oil
Ethereum Apple Facebook NASDAQ S&P500 McDonald’s
The availability of over 100 assets should satisfy most traders unless they are looking for the most comprehensive set of underlying instruments from the global financial markets. If that is the case, traders must choose other brokers that can guarantee unprecedented market access by offering more than 10,000 financial instruments from around the world.
ExpertOption Trading Features & Options Payouts
ExpertOption binary options trading is still in its primitive stages, as the company only offers classic binary options that work around the traditional high/low options. There are multiple timeframes and expiry options to choose from, but traders may miss additional options such as ladder options, and touch/no-touch options. Remarkably, ExpertOption offers a high payout for its traders, which can reach as high as 95% for in-the-money-trades. The high payouts are certainly more enticing than the industry average that offers a maximum payout of 85% for most binary options.
If you are worried about the minimum investment per trade, ExpertOption has you covered. The company only asks its traders to invest a minimum of $1 per position, which can be increased up to $1000. Additionally, ExpertOption also facilitates the option of social trading through social networks, which helps traders to collaborate with other traders and combine trading strategies. Social trading is one of the more popular concepts in the financial markets and is highly popular among traditional stock trading, as well as FX & CFD trading. Binary options brokers are also increasingly moving towards social trading platforms, which allows traders to interact with each other and share their profits for free or for a percentage fee in return.
ExpertOption Platforms For Desktop Trading
Traders have different requirements when it comes to the choice of a trading platform. While most professional traders make use of desktop trading platforms for the added features and flexibility, mobile trading platforms are also proving to be incredibly popular among retail traders. ExpertOption has rightly interpreted the needs of the market and has developed two different trading interfaces for the desktop platform.
For those who require the added advantage of an installable binary options platform, ExpertOption has developed a desktop app that guarantees to offer the best market analysis, highest performance, and instant access to trading without any lag. The desktop trading platform is designed for both Windows and MacOS, which ensures that ExpertOption has covered the majority of desktop users in the financial markets.
If you are not a fan of a downloadable platform or if you are somebody who wishes to take your trading account with you on the move, then the Web Platform is an excellent choice for accessing your ExpertOption account on the go. The ExpertOption Web Trader is compatible with all web browsers and is even compatible with smartphone and tablet trading. The web-based trading interface may miss out on some features that are offered with the desktop trading platform, but it still offers a majority of trading features and convenience that can be more than adequate for your trading needs.
ExpertOption Mobile Trading Apps
Traders can make use of the excellent ExpertOption web platform for accessing their accounts on mobile devices, which promises to offer full-feature trading with all the essential trading tools available at your fingertips. At the same time, ExpertOption also provides the convenience of dedicated mobile trading apps for iOS and Android users, which is compatible with most smartphones and tablets. The ExpertOption apps are available for download on the App Store and the Google Play Store, which has seen more than 1 million downloads in less than 2 years. The broker claims that its mobile trading platforms are the most popular trading interface for nearly half of its customers, and is continuing to grow at a staggering rate. Both apps are offered as full-feature trading interfaces that enable comprehensive market access, but you should not expect these trading platforms to have the same functionality and performance as its desktop counterparts.
ExpertOption Account Types & Minimum Deposit
ExpertOption wants to pamper its customers and has decided to create different account categories to cater to different types of traders. While a majority of binary options brokers offer a single type of account to keep the account opening process simplified, ExpertOption has decided to categorise its traders according to their initial investment. There are four different accounts that are offered to customers, and it is up to the trader to choose an account as per the initial investment requirement.
ExpertOption does not require any substantial investments for its smallest account offering, the Mini account, which requires a meagre $50 as the initial deposit. Of course, there are brokers that offer a trading account for much lower amounts, but the industry average initial investment hovers around $200. Therefore, the Mini account is cheap by industry averages. Despite the low deposit option, the Mini account does not offer by way of any account benefits, apart from a few educational materials. The Mini account has a maximum deal amount of $50, with maximum open positions limited to 10. Therefore, Mini account is really suitable for smaller traders, or for those who would like to control their risks in the market.
The Silver account is the next tier, which requires a more modest $250 investment for a slightly better trading environment. The limits are raised to $100 maximum order limit and an increase in the number of simultaneous positions to 15. The Silver account also grants access to a personal account manager. The Gold account is where the broker has opened up its brokerage services to its traders, which have additional account benefits such as trade consultation with leading experts, increased asset profits, priority withdrawal, higher maximum investment amount of $300 per position, and no limits set on simultaneous orders. However, the Gold account requires a minimum investment of $1000, which is a bit high by modern standards.
The final category of account is the VIP account, which has all the advantages of the Gold account, plus other account benefits. The maximum investment threshold is extended to $1000, with an infinite number of orders, individual trading history analysis, and overall priority towards the traders from the broker’s perspective. Traders will need to shell out at least $2500 for a VIP account, which in our opinion, is significantly lower than the minimum investments required for VIP accounts at other brokers. We have personally witnessed other brokers in the market asking for $50,000 and even $100,000 for VIP account options, which do not represent any significant value for money.
ExpertOption Bonus & Funding Methods
If you are looking for some significant bonuses to aid you in your trading ventures, look no further than ExpertOption. The broker provides some of the most amazing bonus structures for its clients, which does represent excellent value for most traders. Mini account holders can expect to receive a bonus of up to 50% for their deposits, while higher account categories get higher bonuses. The Silver and Gold accounts offer a bonus of 80% and 100% respectively, while the VIP account offers a staggering bonus of up to 125%. Make sure that you read through the broker’s terms and conditions before availing the bonus, as it can help you when it comes to withdrawing your money.
ExpertOption has provided the convenience of funding through 20 different payment systems, for both deposits and withdrawals. Payment options such as Credit/Debit cards, Neteller, Skrill, UnionPay, WebMoney, Qiwi Wallet, PerfectMoney, Yandex, and Payweb offer instantaneous deposits, while bank wire and other offline payments may experience delays. When it comes to withdrawing your money, you can withdraw using the same methods outlined above, but such withdrawals may take up to 3 days to reach your account. The withdrawal time is indeed higher than most companies, but you can withdraw amounts as small as $10 at a time, or initiate bulk withdrawal requests.
It is understandable if you are looking to trade on a demo account before moving to a real account. ExpertOption offers an unlimited demo account for all platforms, which are excellent at evaluating the performance of the ExpertOption platforms and trading accounts. The availability of a demo account is, in fact, one of the major attractions of the company, primarily due to the non-availability of such accounts at other competing brokers.
ExpertOption Customer ServiceDepartment
ExpertOption offers 24X7 assistance through its live chat tool that is constantly online without any interruptions. The live chat feature seems to be the only way by which you can contact the broker or its representatives. ExpertOption hasn’t provided any additional contact information such as email addresses, web contact form, or a physical address, which is indeed worrying from a trader’s perspective. Any company that deals in financial transactions should provide a verified track of its contact information, at least to provide a sense of trust to its traders.
Extra Features & Resources At ExpertOption
One of the primary advantages of ExpertOption is the availability of a social trading feature, which provides an excellent tool for traders to interact with the trading community and work towards enhancing the profitability of trading. Social trading is also a good tool for traders to delve deep into their trading behaviour, and receive expert assistance from the community as a whole. Other trading features include an online education page, which provides all the necessary information about the different strategies and techniques used in binary options trading. ExpertOption clients can certainly utilise this feature to improve their trading skills or perfect their trading craft.
- A wide variety of financial assets.
- Social trading available as a standard feature for all traders.
- Free and unlimited demo trading account.
- Excellent choice of trading platforms for both desktops and mobile devices.
- High payouts with up to 95% ROI per trade.
- Tiered bonus structure ensures larger bonuses for larger investments.
- Regulation leaves a lot to be desired.
- Customer service department requires additional avenues such as email and phone support.
- The tutorial sections need better resources and trading recommendations.
Is ExpertOption A Reliable Binary Options Broker?
ExpertOption is a reliable binary options broker that has consistently outperformed some of its rivals for more than 3 years.
Does ExpertOption Offer a Good Amount of Bonus?
Traders can expect to receive bonuses from 50% to 12%, depending upon the initial investment.
Is The Customer Service Department User-Friendly?
The live chat function is indeed responsive and can provide you with answers to all of your queries without any significant delays.
How Can I Withdraw Funds?
ExpertOption provides the option of withdrawing funds through 20 different payment systems. You can initiate a withdrawal request by specifying any amount greater than $10.