What Is Expert Option ( Review )
Expert Option is a binary choice trading platform that gives over 100 different money assets to trade as well as currencies, stocks, commodities, and cryptocurrencies. Located in Port Vila, Vanuatu, Expert Option is regulated by the Vanuatu Financial Services Commission with license number 15014. What Is Expert Option
This broker has been around since 2014 and has over 13 million accounts opened since that time. With over 100 account managers, Expert Option is one of the most popular and well known digital option trading platforms available.
But the vital question is will Expert Option be trusted? Are they a estimable company or simply another scam broker?
In this Expert Option review, I’ll cover everything you need to know about this trading platform.
=> Expert Option Trading (Platform)
The user interface is easy to understand, and provides guidance to traders on how to perform the trades. The platform also provides choices when it comes to assets like indices, currency pairs and commodities like crude oil and gold.
The only concern here is that traders are only offered short term expiry times. There is also an app that can be downloaded on iOS, and an app for Android devices are expected to follow.
As a broker, Expert Option is known to deliver a number of promising features. But one should keep in mind that the type of services that can be enjoyed will depend on the type of account opened with the website. There are four different types of accounts that customers can consider. Each account has its own set of features and benefits, and we recommend that the interested trader should check each option and the features that come with it.
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One of the things that you will notice with the platform is the comprehensive explanation of the bonus terms, and this can be read in the website’s Terms section. These bonuses are subject to x50 turnover before the said amount can be withdrawn.
Also, the operator gives its members the opportunity to reverse the bonus, but this can be done before placing any trade after collecting the bonus. With Expert Option, anyone can start small with its $1 minimum trade. This minimal entry fee can help new traders test the market before pushing ahead with large deposits and trades.
=> Expert Option Assets
As mentioned, Expert Option has a range of different assets that you can trade options on. These range from the more traditional asset classes such as Forex, Equities and Commodities, to the new and exciting cryptocurrency field.
With Fiat currency trading pairs, you have all of the major crosses including AUD, USD, GBP, NZD, CAD, EUR and CHF. With equity instruments you have a number of the most interesting corporations like Amazon, Baidu, Coca-Cola and Tesla. There are three commodities that you can trade and they are Gold, Silver and Oil.
On the digital currency aspect it appears as if expert option has gone bushed. In fact, they have more cryptocurrency pairs than they have of all other assets. Below are all the crypto pairs that they supply on their platform.
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Tether (USDT)
- Bitcoin Cash (BCH)
- Monero (XMR)
- ZCash (ZEC)
- Bitcoin Gold (BTG)
- Ethereum Classic (ETC)
- IOTA (MIOTA)
- Litecoin (LTC)
- Dash (DASH)
=> Expert Option Regulation
Expert Option is regulated and approved by VFSC (Vanuatu financial Service Commission). Additionally, its activities are supervised and approved by FMRRC (Financial Market Relations Regulation Center), a nongovernmental body for voluntary oversight based in Russia.
Expert Option Ltd. is the full name of the company. It is located in Saint Vincent and the Grenadines at 1510 Kingstown, Suite 305, the Griffith Corporate Centre, with registration number 22863.
Payments are processed by Vestede Limited, based in Gibraltar with company number 116061.
For legal reasons, Expert Option does not provide services to those who are residents or citizens of the United States, Puerto Rico, Canada, the European Economic Area, Israel, Switzerland, Australia, New Zealand, North Korea, Japan, or Sudan. This is doubtless because of rules in those countries relating to trading binary options since Expert Option focuses on digital choices that have a binary outcome.
Trading Binary Options and CFDs is currently legal in the UK, but the Financial Conduct Authority (FCA) are currently looking at these types of companies with a view to further legislation.
Like several of the opposite major brokers and exchanges, Expert Option chose its location based on tax efficiency. There is also extra reasons, but Expert Option cited this particular explanation for its decision to place the headquarters in Saint Vincent and the Grenadines.
=> 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 allows clients of Expert Option to look at an in-depth performance of alternative traders and copy their trades in time period.
- Accessibility to a good vary of trading functions permits 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 one more promising feature of the expert option trading platform.
=> Account Types
Types of accounts
The broker offers fives types of trading accounts;
Let’s go through each account type one by one.
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.
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.
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 Expert Option are supplied with daily financial analysis and market reviews with an calculable 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.
Investors with high deposits are offered platinum account kind at Expert Option. 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 quantity is additionally leveled up to $2000 with a gain ratio increased to 4-dimensional for platinum users.
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 sort will enjoy increased gain ratio of up to 6 and most deal quantity of $5000. Priority client support is that the most outstanding feature of the exclusive account sort.
=> Expert Option Website Languages
Expert Option is restricted in certain jurisdictions and are not open to investors from the following countries: USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, North Korea, Puerto Rico, Sudan.
This is in all probability related to the individual laws in those states that don’t enable offshore brokers like skilled possibility Ltd to solicit clients.
For those regions that skilled possibility operates, they have translated their website and platform into a number of different languages. These are given in the image on the right.
In terms of telephone support, this is only available in English, Thai and Hindi.
=> Banking and Corporate Info
Expert Option supports a number of popular banking options. Customers and traders can found their accounts through bank wire transfers, WebMoney, Qiwi, Neteller MasterCard, Skrill, UnionPay, Yandex and Visa. Customers can withdraw funds using the platform used for deposits. The minimum amount that can be withdrawn is $10, and withdrawals are often processed within 2 days.
=> Customer Support & KYC
This is obviously a really important consideration for brokers and exchanges. There is nothing that is more frustrating than having to wait for days to get customer support.
Expert possibility claims that they need 24/7 client support. You can reach these support agents directly from the trading platform. When we tried to reach out to the support team it took about 10 minutes to receive a response which is not too bad. You can also reach them on their dedicated support email at email@example.com
There are also numbers that you can call for their local offices. This is helpful for those traders that would like to speak to someone. Here are the local numbers
UK (English): Number: +44 20 3868 3160, email: firstname.lastname@example.org, available 24/7
India (Hindi): Number: 000 800 443 0002, email: email@example.com, available 10:30 – 19:30 (India time)
Thailand (Thai): Number: +66 6000 35 407, email: firstname.lastname@example.org, available 10:30 – 19:30 (Thailand time)
In terms of KYC, Expert Option is required to complete a number of steps to make sure that you are who you say you are. This is the standard protocol in today’s markets to avoid the risks of Money Laundering and fraud.
When you fund your account at Expert Option they will usually ask for a proof of identity as well as a proof of address. They should take a day or two to verify these documents.
=> Is Expert Option Safe to Use?
To protect shopper security, Expert Option is verified by MasterCard and Visa. This is done via Verified by Visa and Mastercard Secure-code status. Expert Option conjointly has icons for cert trusty Secure and PCI DSS grievance. It also encrypts all data using the strongest cryptographic algorithms. The website uses SSL encryption, so all information sent over it uses AES 256 encryption.
You can ensure this by viewing the lock icon by the url in your browser and via the very fact that Expert Option uses an https:// address rather than an http:// one.
Expert Option earned the title of “Best commerce Platform” throughout the China commerce expo Shenzhen in might 2017.
Although the broker doesn’t list the other awards in a plain place on its website, it will even have mostly positive reviews from users and freelance websites.