Expert Option Review 2019 – Is Expression a legitimate online broker or is a scam?
Expert Option Online binary option is one of the new brokers to join the broker industry. Founded in the year 2015, the company is registered with St. Vincent and the Grenadines. Their headquarters is located in The Griffith Corporate Center Suite No. 305.
This binary options broker is licensed by the Financial Market Regulation Center (FMRRC) of Russia No. 0395 AA Vv0094. These forests are also being regulated by the Financial Services Commission (VFSC). But on VFSC’s website when we tried to find out whether ExpertOption is a regulated body, we did not find any information there to confirm this.
General Risk Warning! The risk of your capital can be.
This platform was created to give traders of different parts of the world easy access to options trading. But this does not mean that traders of all countries are allowed to trade on this platform. Due to regulatory requirements, the Expert Option does not offer its services to citizens of some countries, such as America, Canada, Israel, Japan and many other countries including Australia.
If you want to know about their customer service team, you can call the numbers given below:
– +44 20 3969 3160 for English speakers
– 000 900 443 0002 for Hindi speakers
– +66 6000 35 407 for Thai speakers
You can also email them or you can talk to a customer service member directly through their online chat facility.
How To Trade With Expert Option
Is Expert option a valid online binary options broker or a scam?
Due to being the brand new online options broker, there is not much information available online about ExpertOption. Nevertheless, we have tried to collect information from different online sources such as forums, social media, and different websites.
One thing that points out the validity of ExpertOption is their transparency. One, they have clearly communicated their contact information. Some brokers usually provide only an email address that makes it difficult to reach their customer support staff.
This broker is regulated by FMRRC and VFSC. Although both are not recognized as CySEC and ASIC, being a regulated broker is always better than being a non-regulated broker. Regulators governing this broker can also be held accountable for their targeted market. From its list of non-supported countries, it is obvious that the Expert Option gives a lot of attention to traders from Russia and other Asian countries. In addition, their platform is available on .ru and .com addresses, and it also proves that they are their main target market.
While writing this article, ExpertOption has more than 7 million registered accounts. For a new player in this industry, it is an indicator that they have attracted traders from more than 150 approved countries.
On the forums, we have received regular complaints about their bonus scheme. Every new account opened with this broker is eligible for up to 125% bonus. Although most traders are ready to take this bonus, the problem is that this bonus is locked with your deposit. This means that you can not remove this bonus amount unless you reach the limit of a defined business.
Why is ExpertOption different from others?
Like many online brokers, Expert Option gives a demo account with $ 10000 virtual cache. In this way, you can try this platform without investing any real money. They also offer 5 different ways in which there are a different minimum deposit, bonus amount and additional facilities. In the Expert option Review, we will discuss further accounts. Another good thing is that you need a minimum of $ 1 to trade and you can get a minimum of $ 10.
What are the main drawbacks of this platform?
More information about those regulators, which are controlled by the regulators, is not available. Also, as soon as you receive the bonus amount, you need a fixed turnover amount to withdraw your earned amount.
Should You Open an ExpertOption Trading Account?
The Exportation offers free demo accounts with $ 10000 virtual cache. If you are new to binary options trading, it is worthwhile to take advantage of this account before investing your money. In this way, you will be able to know more about this platform and also practice trading.
Opening a real trading account is quite easy. The design of the Expert Option platform is simple and easy.
To get started, you have to choose from one of 5 different accounts. The details of the facilities provided in each account are given below:
Types of Expert Option Accounts
A minimum amount of $ 50 is required to open a basic account. Facilities in this account are quite limited. As a basic account holder, you can invest up to 10 trades at a single time and you can invest up to $ 25 per trade.
You need to deposit at least $ 500 to open a silver account. Facilities available in this account include a personal manager, daily market reviews, and financial research. You can invest $ 250 per trade and enter 15 trades at once.
The gold account includes all the features of Silver Account. However, you have to deposit at least $ 2500 in order to open a Gold Account. The other facilities you will get include 2% increased profits on your assets, the ability to trade 30 trades together and priority in withdrawing money etc.
Platinum account holders have to deposit at least $ 5000. In addition to the facilities offered in the Gold account, you will get 4% percent more profit on individual account managers and assets. You can invest up to $ 2000 in a trade and you can trade as much as you like once.
This account can be opened only on invitations. Apart from all the facilities offered in the Platinum account, you can invest $ 5000 per trade and earn 6% more profit on your trades assets.
Add money to your Expert Option account and withdraw money
The Expert Option accepts 20 different types of payment instruments. Includes Credit / Debit Card, WebMoney, Neteller, Bank Transfer, and Skrill.
When you make a profit from your trade, you can withdraw money from any of the accepted payment methods. The withdrawals request are processed in a maximum of 2 business days. But it may take a little more time to fund your account. Apart from this, gold, platinum, and specific account holders can withdraw money faster due to a precautious Virol facility.
Accessing your Expert Trading Account
Expert option to be opened via a web browser, desktop app, and smartphone app
It is also worth mentioning that this platform is built on a custom trading software. Other is different from many established brokers whose platforms can be easily integrated with any third party software like MT4 and MT4.
We would suggest using the trading app instead of the web browser, especially if you are trading with real money. The reason for this is that we feel that the app responds according to your device.
With your trader account, you will be able to get many unique features that include 4 types of charts and 8 different indicators. If you have more than one open trade, then the Expert Option allows you to split the trading chart, making it easier for every trade to be monitored through it.
Another unique feature is that you can easily access your trader account through social media. Through this facility, you can easily see the trade done by other traders and even trade directly with your friends. If you are new to trading and you want to learn from professional traders, then this facility is very useful.
What types of assets are available in the Expert Option?
This online broker provides approximately 100 different types of assets. Includes currency pairs, commodities, stock and crypto kernels. In fact, this list of assets for serious traders may be a little limited.
But due to the limited list of assets, it is easy for new brokers to choose some assets which are easier to monitor and to trade.
His list of crypto creations is quite impressive. While most brokers offer only bitcoins and serum, Expert Option 10 offers different types of Cryptococcus with foreign currency such as BTC / INR (Bitcoin and Indian Rupee.) In addition to their cryptosystems, Expert option succeeds Pays up to 96% on trades.
Note: On the research, the complaints of traders came in front of us which was about the percentage of payment on successful trades. In many complaints, it was reported that when you start trading regularly, the payment percentage is usually reduced. On seeing the FAQ section of the Expert Option website, it is known that the broker says that the profit earned on every trade depends on the market condition. Therefore, you have the opportunity to fluctuate from time to time in your trade excess earnings amount.
Has the Expert Option got any big warnings from regulators yet?
Expert is not licensed to deliver services in European countries, Australia, America and Canada, so we can not expect a regulatory warning from major agencies such as ASIC or CySEC. As far as VFSC and FMRRC
The question is, we have not received any warning, fines or complaints against this broker.
But this does not mean that you can ignore the complaints filed by traders about its bonus system and decreasing profit margins. We will always advise that you keep these two things in mind when you are searching for a broker.
Instead of giving this broker a complete rating, we would like to give ExpertOption a rating based on its different features. This will make it easier to compare with other popular brokers, which we have reviewed, with ExpertOption.
General Risk Warning! The risk of your capital can be.
Platform design and easy to use for traders
Seeing everything, due to an easy and intuitive design, the Expert option is quite easy to start. Due to the demo account with $ 10000 virtual cash, it becomes easy to try this platform without making real money. Easy access is a benefit that most brokers ignore. We liked the fact that export option can be viewed in different 12 different languages on different devices.
See bad sides, their applications do not come with a detailed user tutorial.
Available financial instrument and trade term
You can choose between 100 different types of Instruments. This is a very limited list because some brokers offer tradeable assets above 1000. However, their compilation of crypto and foreign Instruments Joints is quite good.
You can retain a trade status up to a maximum of 15 minutes. You have to keep the trade for a minimum of 60 seconds. For less time than this range, traders benefit more, rather than those traders who want to hold their trade for days or weeks.
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Commissioning and Effective Returns
The Expert Option claims that they do not make any commission on their transactions. But if they withdraw your money, they will deduct 10% of your withdrawal money if that amount is not equal to or higher than your deposit.
The broker also claims that on successful trades, you get an effective return of up to 95% of your investment amount. But, this amount can increase or decrease according to the market position of that time.
ExpertOption provides 3 different phone numbers for customers in different areas of the world. In addition, you can also contact customer service member via email and chat.
Deposits, Bonuses And Moneylenders
You can choose one of 20 different payment methods to deposit and withdraw money in your trading account. Due to the range of available payment options, it is easy to choose the convenient option for you.
Between 50% to 125% bonus can be received on deposited in new accounts. You can refuse bonuses. This is only possible if you have not started trading. The bad thing about accepting bonuses is that it keeps your deposit locked. You can not withdraw money unless you collect the deposit amount, profit and bonus amount to the prescribed limit.
The Expert Option lets you remove the minimum $ 10. Every withdrawal request is processed within 2 business days. But how fast can you withdraw your money? It depends much more on how your account is. Gold, Platinum and specific account holders are allowed to withdraw money more quickly through the Priority Virol feature.
Types of accounts
There are 4 alternatives to accounts and there is only specific account available on the invoice. There are different minimum deposits and unique facilities in each account.
Expert Option is still a fairly new broker in the online broker industry. Apart from most brokers targeting Europe and Australia, ExpertOption is centered on markets such as Asia, parts of Europe, as well as South and Central America. With over 7 million registered accounts, they have developed a lot in the last few years. This broker gives almost all the features that you will find on an established platform. However, they tell themselves up to 95% high effective returns, due to the long list of cryptocarzenea and the choice of 5 types of accounts. The interesting thing is that most complaints have come from the claim of effective returns. Look at the whole thing, if you have no problem with a decreasing effective return on successful trades, then the expert opinion is worth considering. On the other hand, if you look at a more definite and more strictly regulated broker, then we suggest that you choose one of the brokers currently regulated by CySEC or ASIC available.