Expert Option Review 2020 (ExpertOption)

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ExpertOption Review

Introduction

Established in 2020 and based in St. Vincent and the Grenadines, ExpertOption is licensed by CROFR (Financial Market Relations Regulation Center). As a relative newcomer to the online trading arena, they have used this to their advantage. This late entry has allowed them to learn and develop their platform based on information they have learned from other brokers.

The site is available in a broad range of languages and open to almost all countries worldwide, they offer their services in the UK, China, India, Singapore, Indonesia and even Australia and many European countries. Their trading platform has been built in house using their software with a platform that has been specifically designed to be intuitive and easy to use for both new and experienced traders alike.

As well as the easy to use and mobile-friendly apps for traders on the move, other unique features of the ExpertOption platform include a 10,000 dollar demo account and an education centre where potential traders, and those with more experience, can learn more about fixed time trading.

In this review, you will learn:

    How easy it is to open an account and trade What type of accounts and trade types are offered The bonuses and features with each account type

Risk Warning: The 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 risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

In total, there are 4 different account types with a range of benefits and requiring different levels of deposit. You can choose from a mini account with just a $50 deposit or, if you are looking to trade at a much higher level, a VIP Account will require a $2,500 deposit. With the minimum trade starting at just $1, it is a great beginner broker.

Mini Account

With an ExpertOption Mini Account, you are required to make a minimum deposit of $50. In return, the broker offers a personal manager, 1 personal training session and a 50% bonus along with a weekly economic newsletter.

Silver Account

The Silver Account requires a deposit of $250. You will get a personal manager, 2 personal training sessions, a weekly economics analytics report and an 80% bonus.

Gold Account

With a Gold Account, as you would expect, the stakes are higher, and so are the rewards. In exchange for a deposit of $1,000, you will benefit from a lead personal manager, 4 personal training sessions, daily as opposed to weekly economic analytics, priority withdrawal and a 100% bonus.

VIP Account

The VIP Account commands a much higher deposit of $2,500, but in exchange, you will receive everything that a gold account trader receives along with a higher bonus of 125% and an individual trading history analysis.

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Trade Types And Payouts

Forex pairs, currency pairs, gold, oil and stocks are all offered on the ExpertOption platform; in fact, they provide in excess of 50 assets. Ranging from 60 seconds to 15 minute expiry times, this broker offers two trade types.

60 Second Trades

60 Second trades are one of the most extreme of all the possibilities in terms of expiry times, and with only 30-second trades beating them, they are the shortest expiry times you will find. These trades allow you to make more money in a short amount of time.

Of course, by trading in 60 Second trades, you also run the risk of losing more in a short space of time. However, if you only have an hour a day where you have the opportunity to trade, these trades mean you can get quite a lot of trading done very quickly.

High/Low Trades

While there are brokers who offer fixed time trades over more extended periods of time, the maximum expiry time available from ExpertOption is 15 minutes. Unlike 60 Second trades, these longer expiry times give you more flexibility and don’t require so much intense focus and quick action.

In terms of rewards ExpertOption claim to offer bigger payouts than most brokers with up to 95% profits being rewarded.

With the minimum trade amount starting at just $1, it is a great beginner broker.

With the minimum trade amount starting at just $1 it is a great beginner broker.

Bonuses And Promotions

Most online brokers brokers offer bonuses and rewards to incentivise you to open an account and make a deposit with them. ExpertOption is no different, and they offer bonuses on a sliding scale which are based on the type of account that you open.

For those that open a Mini Account, there is up to 50% bonus available. This increases to 80% with the silver, 100% with the gold and 125% with a VIP Account. The requirements of withdrawing any bonus funds are usually to trade with the bonus a certain amount of times before you can remove it.

If you read the bonus terms and conditions on the ExpertOption website, they state that for both the no deposit and normal deposit bonuses “The value of the mandatory trading volume, bonus amount multiplied to 50”.

Mobile Trading

Upon launching the website from your mobile device, you are immediately offered the app that is relevant to the particular device that you are using. If you are on an iPhone or iPad, then you will be offered the chance to download the app form the App Store. Likewise, if the device you are using is an Android device, you will be provided with the Android app from the Google Play Store. If you wish to ignore this and continue to the mobile site you are also given this option.

Even on the larger phablet phones, it is challenging to navigate the mobile site as it is not fully responsive; therefore, many traders choose to use the app on the go. While some aspects of the mobile site have been considered for mobile usage, others require the user to pinch and squeeze the screen.

Deposits And Withdrawals

Making a deposit is quick and straightforward with debit and credit cards accepted along with other forms of payment such as Skrill and Neteller. You can open an account, deposit your funds and start trading. While it is necessary to deposit $50 to open a Mini Account, the minimum deposit required is $10.

For holders of Gold and VIP Accounts, the priority withdrawal is a feature, but ExpertOption claims to have a quicker turnaround than many other brokers. Withdrawals are commission-free and made by the same methods as deposits, Visa, MasterCard, e-wallets and Skrill, Neteller etc.

While they claim to offer a quick turnaround though they do not state precisely how long this is and for some, the experience has been less than sharp. As with many brokers, the usually expected withdrawal period can be between 3-5 days. There is no explanation of the Gold and VIP priority withdrawal service. To test their service, we made a sample withdrawal, and the time it took was just 3 days, we did not encounter any withdrawal problems.

Special Features

The $10,000 demo account allows you to use the platform without risking real money. Once in the demo account the “demo button” is highlighted at the top of the page with a link next to an “open real account” button.

There is a beneficial and comprehensive education centre where you can learn the basics of trading as well as all the jargon in the glossary section. As well as the basics of trading, the centre also offers a list of other helpful topics all available by clicking on one of the relevant parts.

For those wanting to learn more about trading strategies, there is a whole section dedicated to this, and the various approaches (ten in total) explained.

Customer Support

“Best customer service is the most valuable asset of our company. Feel free to contact us” is the strapline that heads up their contact information page along with a variety of contact details for a variety of languages. There are 5 different contact options and languages displayed. These are English, Chinese, Thai, Russian and Hindi. Each option gives the user a phone number and e-mail addresses.

In addition to the contact information, below this is the contact times and days of the week available. To give you an example the English helpline is available 24/7 whereas the others are available at specific times Monday – Friday. For enquiries in other languages, you are given 2 options, a contact e-mail and an address for correspondence.

Here are the contact details for ExpertOption:

    Email – [email protected] Phone – +44 203 868 3160 Address – EO Services Ltd, S.I.P. Building, P.O. Box 3010, Rue Pasteur, Port Vila, Vanuatu

Conclusion

The recent entry of ExpertOption into the fixed time trades market gives them the benefit of being able to offer what their traders want. With a platform that is tailored to both new and more experienced investors, they offer not only a trading experience but also an education.

Their demo account allows novices to dip their toe without risk and to learn the basics of trading before they start and has been designed with you in mind, and the apps allow you to trade on the move, an essential criterion for many modern traders.

With a range of account types and the ability to open an account with as little as $50 and make $1 trades, they aren’t out of reach for those who want to start slow and get to grips with what they are doing while having enough to offer those more prominent traders.

Risk Warning: The 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 risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is ExpertOption legit, will they scam me?

ExpertOption is licensed by CROFR (Financial Market Relations Regulations Centre). This particular licensing makes them very popular.

Do they have a decent mobile or tablet app?

Yes, and their mobile website is very intuitive. If you are using an Apple device, the moment you visit the mobile site, you will be offered the chance to download the app from the App Store.

What bonus do they offer for new traders?

The bonuses on offer range from 50% for opening a Mini Account with a minimum of $50 up to 125% with a VIP account and a minimum deposit of $2500.

Can I start trading on a free demo account?

Yes, you can. While some brokers require you to register and open an account, with deposited funds, before you can start trading on the demo platform, this is not the case with ExpertOption.

What’s the minimum deposit and trade amount?

To open an account the minimum deposit required is $50, for this, a trader can open a Mini Account and start trading with as little as $1 per trade. To top up the minimum deposit required is $10.

Shelly is proud of her current position as Head of Brand for a well-known organisation that owns several brokerages in the trading sector. She’s consulted for us since 2020 and readers can benefit from her insider knowledge of how brokers work.

ExpertOption Review

ExpertOption is a binary option trading platform that offers over 100 different financial assets to trade including currencies, stocks, commodities, and cryptocurrencies. Located in Port Vila, Vanuatu, ExpertOption is regulated by the Vanuatu Financial Services Commission with license number 15014.

This broker has been around since 2020 and has over 13 million accounts opened since that time. With over 100 account managers, ExpertOption is one of the most popular and well known ​binary options platforms available.

But the important question is can ExpertOption be trusted? Are they a reputable company or just another scam broker?

In this Expert Option review, I’ll cover everything you need to know about this broker.

​​Payouts:

Number of Assets:

​Regulation:

​​​​Company Name:

Web, Android, iPhone, Windows, MacOS

​Stocks, Commodities, Cryptocurrencies, & Forex

​Credit Cards, Debit Cards, Cryptocurrency, WebMoney, Neteller, Skrill, QIWI, Fasapay, and More.

Countries Not Accepted:

​United States, Canada, Switzerland, New Zealand, Australia, Israel, European Economic Area, Japan, Sudan, and Puerto Rico

Table of Contents

Trading Platform

​Unlike other brokers that use turnkey ​platforms such as TechFinancials or SpotOption, ExpertOption developed its own custom ​platform to cater to the needs of their clients. Lightning fast execution, accurate price feeds, and weekend trading are all advantages of the ExpertOption platform.

Once inside the platform, the biggest focus will be the main graph in the middle, which shows the prices of your chosen asset in real-time. You can hover your mouse at any point in the graph to see the previous price at any point.

At the top-left corner of the screen, there is a drop-down menu where you can select an asset to view. You can search for an asset by name or browse by category such as Currencies, Crypto, Stocks, or Commodities. Once you select a financial instrument, you can choose between 1-5 minute expiry times.

A very useful feature of ​Expert Option ​is the ability to adjust your chart layouts. For example, you can split the chart layout so you can view two different markets at the same time.

ExpertOption has 8 different indicators that you can use including Moving Averages, RSI, MACDs, Bollinger Bands, Parabolic SAR, Alligator, Fractal, and Awesome Oscillator. Expert Option also has 4 different chart types you can choose from including Area, Line, Bars, and Candles.

Overall, ExpertOption has an excellent trading ​software that is easy enough for beginners while also offering enough features to please even the most experienced traders.

Assets

Expert Option offers a wide range of assets to trade including stocks, forex, commodities, and cryptocurrency.

Currency Pairs – ExpertOption has all the major ones including EUR/USD, AUD/CAD, EUR/GBP, USD/CHF, and USD/JPY. This broker even offers cryptocurrency pairs such as BTC/LTC.

Stocks – ExpertOption ​has plenty of stocks to trade including Apple, Google, Alibaba, Facebook, Tesla, Microsoft, Netflix, and many more.

Cryptocurrency – This broker allows you to trade most major crypto assets such as Bitcoin, Litecoin, Ethereum, Dash, Monero, Zcash, Riipple, and Tether.

Commodities – Currently, the only commodities that you can trade with ExpertOption is Gold and Silver.

​ExpertOption Account Types

​Expert Option offers ​six types of ​​accounts. ​Here’s an overview of each one.

Micro

The micro account offered by ExpertOption has a minimum deposit ​of just $10. However, the maximum trade ​is just $10 and you can only have 10 simultaneous trades at any given time. ​You will get access to educational materials, but ​not ​the daily market reviews ​or financial research.

Basic

The Expert Option basic account has a minimum ​investment of $50​ and a maximum trade limit of $25. ​You are only allowed 10 simultaneous trades at any time and you do get access to the education materials. If you start with a basic membership, you can always upgrade at a later time.

Silver

The ExpertOption silver account requires a $500 ​initial investment. In addition to the educational resources, you’ll also get access to the daily market reviews and financial research. ​You are allowed 15 trades at a time and a maximum trade limit of $250. ​

A gold account has a minimum deposit ​of $2,500. ​Gold comes with everything that Basic and Silver comes with, but with some additional perks. Gold members get priority withdrawal processing. You’ll also enjoy a 2% increase in profit​. The minimum deal amount for a gold member is $​1,000 and you can have up to 30 active trades at any time.

Platinum

​VIP traders are best suited for the Platinum account type at Expert Option. An initial deposit of $5,000 is required. You’ll enjoy everything that the Gold ​level comes with, but you’ll have no limitations in the number of trades you can execute at the same time. In addition, the maximum trade​ increases from $1,000 to $2,000 and your profit per trade increases by 4%.

Exclusive

It is not available for everyone, only those who are invited to have this account type​. Customers having Exclusive account type can enjoy increased profitability ratio of up to 6%, a ​personal account manager, and maximum deal of $5000. ​

​Demo Account

ExpertOption offers their clients a free demo account ​with $10,000 in virtual funds to practice with. This is a great way to sharpen your skills without risking real money. Unlike other binary option brokers, you don’t have to register ​in order to access the ​platform. You don’t have to give them an email address or any personal information.

With the​ ExpertOption demo, you can get a great feel for their trading ​interface to see if it’s what you’re looking for. You can practice executing trades, sharpen your trading strategies, and get a feel for how easy the ExpertOption ​software is to use.

​ExpertOption Apps

The ExpertOption platform is accessible via mobile and desktop ​apps. Their mobile app is available in iOS and Android and can be downloaded at the Google Play Store or Apple Store. The ​desktop app is compatible with Windows or Mac.

Alternatively, you can access the ExpertOption platform on the web without using any app. There is no software download required in order to ​start trading.

ExpertOption Bonus Offers & Promotions

Just recently, ExpertOption has began to offer 100% ​bonuses for first-time depositors. Most brokers offer these types of bonuses as incentives to attract new customers, and Expert Option is no different.

An important thing to note is that accepting a bonus from ExpertOption doesn’t affect your ability to withdraw funds from your account like it does with other brokers. If you choose to accept their bonus offer, you are eligible to withdraw your money at any time.

There are bonuses available for existing clients as well, but it’s less than the 100% ​match that first-time clients get.

​Accepted Countries and Languages​

ExpertOption does ​NOT accept clients from United States, Canada, European Economic Area, Switzerland, New Zealand, Israel, Singapore, Puerto Rico, North Korea, Yemen, Sudan, Bangladesh, Vanuatu, and Australia.

ExpertOption does accept traders from India, Philippines, South Africa, Nigeria, Kenya, Indonesia, Malaysia, Pakistan, Ghana, Zimbabwe, Bulgaria, Sri Lanka, Vietnam, Egypt, United Aram Emirates, Turkey, Brazil, Russia, and more. Most ​regions from Asia, Africa, and South America are accepted.

For your convenience, the Expert Option website and platform are available in 15 different languages including English, Chinese, Hindi, Korean, Thai, Vietnamese, Spanish, Arabic, Turkish, Bahasa (Malaysian), Bahasa (Indonesian), Portuguese, Tagalog, and Polish.

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​Special Features

​Social Trading

Expert Option offers social trading, which is a way to trade ​with your friends or see what other successful traders are ​investing in. You can see which assets people are trading, the market movements they’re predicting, and how much profit they are making.

Technical ​Analysis Tools

ExpertOption has a variety of technical analysis tools for you to use including four different chart types, eight different indicators, as well as trend lines.

Training and Education

​This broker has a variety of online educational resources to help its traders learn the basic of ​digital options. These resources include video tutorials, online webinars, daily market analysis, and more.

​Deposits​

ExpertOption has a minimum deposit of just $10 on their Micro account. This account level is perfect for beginners that are just getting their feet wet in the world of binary option trading. Here are the ​lowest deposit amounts for the other account types:

To make a deposit with ExpertOption, follow these steps:

  1. Go to the finances tab
  2. Click the deposits tab
  3. Choose your ​payment method
  4. Select your currency
  5. Enter the amount you’d like to ​invest
  6. Click submit

ExpertOption offers many different payment methods including all major credit cards (including Visa and Mastercard), cryptocurrency, and most major e-wallets including UnionPay, WebMoney, Skrill, Neteller, Perfect Money, Yandex Money, Fasapay, and QIWI.

​Withdrawals

​To withdraw money, ExpertOption offers the same payment methods that are used for deposits such as credit cards, E-Wallets, cryptocurrency, etc. In order to withdraw funds from your account, it must be done using the same payment method as your ​opened your account with until you have withdrawn your initial ​investment amount. After that, you can choose a different ​payment method for the remainder of your funds if you choose to.

The minimum withdrawal amount for ExpertOption is $10 USD. ​Requests are typically processed in just 2 business days. As with most binary brokers, Expert Option does require you to provide identity verification before ​you can request money. This is a safeguard to prevent fraudulent activity on your account.

​This broker does not charge commissions or fees​ for processing payments. ​

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

​Here is their company contact information:

ExpertOption LTD.
Suite 305
Griffith Corporate Centre
Beachmont
P.O. Box 1510
Kingstown
Saint Vincent and the Grenadines

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. ​This company provides ​excellent 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 ​software. 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 ​digital options traders.

Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.

Welcome To Our Site!

My name is Robert Wolfe and I’m an online trader with over 7 years of experience trading financial instruments such as binary options, CFDs, forex, and stocks. I created this website to share my knowledge of the industry so you can avoid the same mistakes I’ve made.

Beginner’s Guide to ExpertOption: Complete Review

ExpertOption has the goal of providing clients with a fully transparent digital trading experience. To achieve this goal, it delivers an intuitive trading platform combined with vast educational materials.

The platform began providing services in 2020 and executes more than 30 million deals every month. So far, more than 9 million accounts have been opened.

ExpertOption makes clients a priority, making customer service its primary value. There are more than 100 account managers, each of which focuses on meeting client needs.

The company also aims to be reliable and simple, making it possible for anyone to start trading. Finally, it aims to deliver the fastest trading via innovative technologies.

ExpertOption at a Glance

Broker ExpertOption Limited
Regulation Financial Services Authority St. Vincent and the Grenadines (SVGFSA)
Minium Balance $10
Demo Account
Yes – $10,000
Asset Coverage CFDs ,Forex, Cryptocurrency, Shares, Commodities, Indices
Leverage 500:1
Trading Platforms Web, Mobile, Desktop Apps

Opening an Account at ExpertOption

The minimum deposit needed to open an ExpertOption account will vary based on your chosen account type, but the absolute minimum is $50. ExpertOption also has KYC procedures in place to verify your identity to prevent fraud and money laundering.

Most of the time, ExpertOption asks new clients to submit documentation verifying both their identity and address.

The broker does not list specific requirements on its website regarding these documents, but it is safe to assume that ExpertOption has the same requirements as other brokers. The proof of identity most likely needs to be government-issued and include your photo, name, and birthdate at a minimum.

The proof of address likely needs to be an official document or bill with your name and address clearly displayed.

Account Types and Minimum Deposits

While many brokers only offer a single account type for clients or possibly two, ExpertOption has an exceptional range of accounts.

It is also interesting to note that instead of creating account tiers based on verification levels as many brokers do, ExpertOption creates tiers based on the size of your investment, with the ability to upgrade to a higher account level.

There are five types of accounts available from ExpertOption, with each adding benefits but increasing the minimum investment.

  • The Basic account only requires a deposit of $50 but lets you upgrade to a higher status when you are ready to do so.
  • Silver accounts are the most common starting point, requiring a $500 minimum deposit.
  • Gold accounts start at $2,500, and Platinum accounts start at $5,000.
  • Exclusive accounts are by invitation only.

The Basic accounts get access to all the educational materials. You can have a maximum of 10 deals open at a time with a maximum deal amount of $25. Silver accounts include an introduction to a personal manager.

They upgrade the maximum deals to 15 and the maximum deal amounts to $250. They also add access to daily market reviews as well as financial research. The Gold accounts allow 30 simultaneously open deals of up to $1,000 per deal.

They also add priority withdrawal and increased asset profit of up to 2 percent. Those with Gold accounts and higher also get priority withdrawals.

Platinum accounts have a maximum deal amount of $2,000 and no limit to the number of simultaneously open deals. The increased asset profit becomes up to 4 percent, and you also get an account manager.

Those with Exclusive accounts get a senior account manager, increased asset profit of up to 6 percent, and maximum deal amounts of $5,000. This account type also adds access to strategies.

Note that regardless of the account type, the minimum investment amount for a single trade is $1. It is also important to note that certain account benefits require the client to request activation of that feature via email, at which point it will be manually activated.

Account Type Basic Silver Gold Platinum Exclusive
Personal Manager Introduction Introduction Account Manager Senior Account Manager
Educational Materials
Daily Market Reviews and Financial research
Priority Withdrawal
Access to Strategies
Maximum number of simultaneously open deals 10 15 30 No Limit No Limit
Maximum Deal Amount $25 $250 $1,000 $2,000 $5,000
Increased Asset Profit 0 0 up to 2% up to 4% up to 6%

Expert Option Bonuses

In a significant new update ExpertOption recently began to offer 100% bonuses to all first depositors. The introduction of a bonus system owes largely to popular demand, and see’s traders claiming a much needed boost to begin trading.

The 100% bonus can be claimed from deposits starting at $30, and traders will have one hour following the creation of their account to take advantage.

Importantly, acceptance of bonuses does not affect the ability to withdraw as with other brokers, with ExpertOption if you choose to accept the bonuses on offer, you’ll still be eligible to withdraw any time.

The bonuses are also available to existing traders, although the percentage on offer differs to that of those who are depositing for the first time.

What Instruments Does ExpertOption Offer?

With ExpertOption, clients can trade a range of assets, including cryptocurrency, equities, forex, commodities, and stocks.

  • For fiat trading pairs, ExpertOption has all the major crosses, such as CHF, EUR, AUD, USD, NZD, and GBP.
  • The equities include Coca-Cola, Tesla, Amazon, and Baidu.
  • In terms of commodities, you can trade oil, silver, and gold.
  • ExpertOption truly excels in terms of its cryptocurrency offerings with Bitcoin, Ethereum, Ripple, Bitcoin Cash, Bitcoin Gold, Dash, Ethereum Classic, Litecoin, IOTA, Monero, Tether, and Zcash.

What is a “Digital Option” or “Binary Option” ?

All instruments from ExpertOption are Digital Options. As such, these assets have asymmetric payouts with losses and gains capped by predetermined amounts.

This is a sharp contrast to futures or CFDs where the loss or gain does not have a cap. It is also important to note that with options, you have the right to sell or buy an asset at your predetermined future price, but this is not an obligation. If you choose a PUT option, you short the underlying price. If you select a CALL option, you go long on the underlying asset.

The payout will either be set at 0 or a percentage of invested capital, with the percentage ranging from 70 to 90 percent at ExpertOption. The expiry times for Digital Options on ExpertOption are limited to just several minutes.

Some reviews indicate you can only set expiry times of one or two minutes, but the demo version of the platform also has options for three, four, and five minutes. Most likely, ExpertOption expanded its expiry time choices at some point following reviews that state otherwise. Some traders would rather have longer expiries, as well, such as daily or hourly.

A digital option has a fixed payout if the underlying asset moves past the predetermined threshold or strike price. The loss is also fixed if the underlying asset doesn’t move past the threshold. A digital option depends on one proposition, which is whether the underlying asset expires in the money at the expiration date and time. If the underlying asset expires in the money, the option is automatically paid out with the trader receiving the profit or the loss being logged in the account. Digital options payout profits, but are not exercised like vanilla options which provide the potential for ownership of the underlying.

It is also referred to as a “binary” or “all-or-nothing option.”

ExpertOption Demo Account

ExpertOption offers a demo account for clients to explore the platform and hone their skills before investing real money. The demo account comes with a balance of 10,000 in virtual money. No registration is necessary. As soon as you click on the link, you will be shown a brief video titled “How to trade” to give you a guide to using the platform.

The demo account is extremely useful, as the pricing is identical to the figures listed on the live account, providing you with an accurate idea of how your trading style would work with ExpertOption.

The fact that you do not need to register to create a demo account helps set ExpertOption apart. This means that you do not need to provide any personal data to get a feel for the platform or for trading digital options, like those on ExpertOption.

Many people feel more secure knowing ExpertOption will not have any data on them prior to registration. Additionally, the lack of registration required for a demo account also means there is no way for ExpertOption to pressure you into opening a real money account following the demo. After all, the broker will not have your contact information.

ExpertOption Deposits

To make a deposit, go to the Finances tab on the main bar to the left side of the trading platform. Click the Deposit tab (which should open by default). Choose your deposit method, currency, and amount, then hit submit.

Deposit options include major credit and debit cards, such as Visa, MasterCard, and Maestro, along with cryptocurrency and other options. These other options include UnionPay, WebMoney, Neteller, Skrill, Perfect Money, QIWI, Fasapay, and Yandex Money.

During the process of depositing funds into your account, keep in mind that the minimum deposit for ExpertOption is just $50. With this deposit size, you will have a Basic account. There is also a maximum deposit size set to $3,000, likely due to payment limits.

ExpertOption Trading Platform

Most competitors in the world of digital options choose to use an existing platform instead of creating their own to save time. However, ExpertOption created its own platform, so it could be fully customized and tailored to the needs of the average ExpertOption client.

This means that the platform from ExpertOption perfectly integrates all the features the broker offers. The downside is there are no outside support resources available for the platform.

Even so, its intuitive nature combined with ExpertOption’s customer support means that outside resources are not likely to be necessary to understand the platform.

Trading on ExpertOption

You can easily view the trading platform yourself by clicking on “Demo Account” on the homepage. The focus of the platform is the main graph, which displays prices of your chosen asset with real-time figures.

The main graph lets you hover over any point and see the specific time as well as the price at that point.

The top-left corner of the graph features a drop-down menu where you can select one of the 100 or so stocks and assets to view. Here, you can either choose one of the top instruments, use the search bar, or browse by asset type.

To the right of each instrument, you will see the current percentage and percentage change. After selecting your asset, select from one, two, three, four, or five minutes.

When you hit “Apply,” the graph will update automatically, as will the information in the sidebars. It is also possible to adjust the layout of the chart and split it, so you can view the charts for more than one asset at a time. This last feature is particularly helpful for those who trade multiple markets.

Use the controls on the graph to view past prices at your preferred date. To the right of the asset drop-down menu, you will find useful tools to help you analyze the price graph. They are divided into buttons for charts, indicators, drawings, and social trading.

Use these buttons to switch among four chart types: area, line, bars, or candles. Indicators include MACD, awesome oscillator, RSI, fractal, parabolic SAR, alligator, Bollinger bands, and moving averages.

Clicking on any of these indicators lets you customize it fully. Using the drawings button, you can add rays, vertical lines, or horizontal lines.

Clicking the social trading button toggles icons of trades from other ExpertOption clients either on or off, so you can view when and how much they traded.

To the right of these buttons, you also have the choice of three different layouts to choose from.

The trading panel is near the bottom of the graph. It displays the deal amount of a given trade, as well as your potential profit. As you adjust the deal amount, the profit is automatically adjusted.

You will notice that the potential profit is represented as a percentage on the red and green buttons on the right side of this panel. Immediately above each button, you will see the potential profit or loss. You can also adjust the strike rate here.

Along the left side of the screen, you will see buttons for Trade, Finances, Profile, Apps, Analytics, Education, Help, Setting, and Exit. The Trade button displays the graph and all the above features.

The Finances button shows you details of your account, including the type of account you have and your balance. This is also where you can submit deposits and withdrawals. The Profile section shows your trading history.

To the right side of the screen, you will see three options for Deals, Trends, and Social. Clicking on Deals opens a sidebar on the right side of the screen that displays your most recent deals.

Selecting Trends displays trends in a right sidebar, with your choice of one-, two-, and five-minute intervals. All asset types appear on this list, with commodities, forex, cryptocurrencies, and more mixed together based on trends.

The Social button on the right opens a sidebar dedicated to the social features of ExpertOption in the same place. At the top of the sidebar, you will see totals, including the number of users online, the volume of opened deals, and the number of open deals.

Directly below this, you will see the opened deals regarding your currently selected asset. These deals are divided into sections based on their length, including one, two, three, four, and five minutes.

You can adjust which deal length’s data appears on top by clicking on the asset on the top-left corner of the chart. For each deal duration, you will see the number of deals opened, the deal volume, and a ranking of the top five traders by profits (so far) with the given deal.

ExpertOption Withdrawals

There are more than 20 different payment systems that ExpertOption works with for withdrawals. In terms of credit and debit cards, you can use MasterCard, Visa, Maestro, or Union Pay.

Account holders can also utilize electronic payment methods, including Fasapay, Perfect Money, Skrill, and Neteller. Or you can withdraw via Bitcoin.

Remember that when withdrawing funds, you must withdraw it via the same method as your deposit, up to the amount of the deposit. After you have withdrawn your initial deposit, you can choose a different withdrawal method for the rest of the funds.

This is a standard practice across brokers of all types since it helps prevent money laundering.

You must withdraw a minimum of 10 USD at a time, and withdrawal requests get processed within two working days. Depending on the type of withdrawal, you may need to send ExpertOption additional documentation via scans. In this case, the request for those documents will occur via email.

ExpertOption Fees

ExpertOption does not charge commissions on transactions. However, your payment aggregator or payment system may take a commission.

ExpertOption Analysis Tools

ExpertOption has a range of technical analysis tools, including trend lines, four types of charts, and eight indicators.

Via the platform, you can also go to the Analytics page to view additional resources. Here, you will find a tab filled with relevant news, followed by tabs dedicated to Assets and Stocks. The Stocks page displays the various supported stock exchanges on a world map, complete with time zones.

Clicking on any of the stocks will give you a brief summary of the exchange, along with its headquarters, founding year, revenue, and work time.

ExpertOptionTrading Signals

Via its inclusion of social trading elements, ExpertOption does include trading signals. While the platform does not directly refer to these signals as such, the social signals are essentially trading signals. You can use the signals on all assets.

Education for Traders

Because ExpertOption aims to make trading accessible to all, it includes a sizable number of educational tools. If you click on the Education button on the trading platform, you will find a range of videos on the “How to get started” tab.

This includes quick videos to explain the platform toolbar, graph types, social trading, deposit methods, how to trade, assets, and a tutorial. Or you can go to the “Education” tab for access to a glossary, fundamental analysis, graphical analysis, technical analysis, trading strategies, and psychology of trading.

Each of these sections includes detailed information on a range of relevant topics, complete with images, graphs, and infographics. You can also access each of these educational sections via the Education page on the main navigation menu of ExpertOption’s website.

Regardless of your access method, the educational materials on ExpertOption are truly in-depth. Just within the category of trading strategies, you will find guides to Engulfing Candlestick, Squat Candlestick, Tweezers, Three Methods, Breakout, Reversal Moving Average, Bollinger Band, and Alligator Trading Strategies.

Each strategy explanation includes a description as well as a guide to how to use it, along with examples via charts.

Within the category of technical analysis, you can find specific guides for Alligator, Moving Averages, Bollinger Bands, and Trend, support, and resistance lines. Once again, each guide has a detailed description that includes images and charts as well as information on how to use that particular analysis.

Graphical analysis topics include Candlestick Analysis, Trend Continuation Patterns, Trend Reversal Patterns, and Fibonacci Retracements and Elliot Waves. Within the educational materials for fundamental analysis, you will find a guide to basic fundamental indexes.

The section dedicated to the psychology of trading is particularly interesting, as this is an educational category that most brokers do not offer. There is an overview as well as sub-topics focusing on Successful Traders, the Psychology of Traders, and Individual Trading Psychology.

ExpertOption Social Trading

ExpertOption also offers social trading, which lets you trade with friends or watch and follow global deals. In fact, ExpertOption markets itself as the leader for social trading networks. With the platform’s social trading, you can trade with friends and investors or watch them open their own deals in real-time.

This part of ExpertOption includes Top Investors, so you can follow the results of VIP traders and learn from their actions. ExpertOption also encourages clients to try to become a trading leader in their own countries.

To further enhance the social aspect of ExpertOption, the platform has groups on social media platforms, including Facebook, Instagram, Twitter, and YouTube.

ExpertOption Apps

To fit the company’s goal of making trading accessible, ExpertOption is available via mobile or desktop apps. Those who want to use the mobile application can download it via the Apple App Store or Google Play Store or just download the APK.

The desktop apps are available for either Windows or macOS. Alternatively, you can access ExpertOption without any downloads via your browser since the trading platform is compatible with all browsers.

As is commonly the case with trading platforms, most traders will find the downloadable desktop platform to be the most efficient method of using ExpertOption. The order execution also tends to occur more efficiently on the desktop platform.

The mobile applications are both highly rated in their respective application stores. The iOS application has a 4.8/5 rating from 19 ratings, while the Android application has 36,164 ratings and reviews, leading to a score of 4.4 out of 5.

The Android application has been installed over a million times but does not list the supported languages in the description. By contrast, the iOS application does not list the number of downloads but lists all 21 supported languages.

The application descriptions for Apple and Android devices are identical, both reminding users that the platform currently offers services to more than 9 million traders in more than 150 countries.

This mobile application includes access to the free demo account, quick withdrawals to a bank card or one of the more than 10 e-wallets, access to more than 100 trading instruments, professional trading conditions, the full range of account types, 24/7 customer care, technical indicators, and instant execution of trades.

However, keep in mind that the small screen size of mobile devices limits the ease of use for features related to technical analysis. As such, those who engage in technical analysis will likely want to use the desktop or web version of the platform.

ExpertOption Bonuses

ExpertOption does offer bonuses for new clients, although these bonuses are not clear via the website. Reviews state that the bonuses can be as high as 100 percent.

At the same time, most reviews caution users to read the details regarding a bonus since these promotions tend to have strict requirements for receipt.

A bonus can also lock up the funds you deposit until you reach the agreed-upon turnover volume. Essentially, while ExpertOption does offer bonuses, you should carefully read the terms of them before taking advantage of one. It is also possible to cancel a bonus if you have not used it yet.

Who Can Use ExpertOption, and What Languages Does It Support?

As previously mentioned, ExpertOption clearly indicates a list of countries and regions from which it cannot accept clients. These include the United States, Canada, Switzerland, New Zealand, Australia, Israel, the European Economic Area, North Korea, Japan, Sudan, and Puerto Rico.

To appeal to all clients within the jurisdictions where ExpertOption can operate, the website is available in 15 different languages.

These include English, Chinese (two variations), Thai, Hindi, Korean, Vietnamese, Arabic, Turkish, Bahasa (Indonesian), Bahasa (Malaysian), Portuguese, Spanish, Polish, and Tagalog. All 15 of these languages are also available for the web version of the ExpertOption trading platform. While the website is available in those 15 languages, phone support must be in English or Hindi at this time.

Reviews indicate that ExpertOption previously offered phone support in Thai, as well.

ExpertOption Customer Support

You can take advantage of ExpertOption customer support in either English or Hindi. The English support comes with its own email contact and phone number and is available 24/7.

The Hindi support has a unique phone number and unique email address with support from 10:30 to 19:30 India time.

There is also an online chat and the ability to fill out a contact form. 24/7 customer care from ExpertOption is also available via the mobile applications.

ExpertOption Regulation

ExpertOption is fully licensed by the SVGFSA, a governmental financial authority that allows the company to provide financial and trading services.

Currently the platform can be accessed from most locations worldwide, however ExpertOption is not authorised to accept U.S. citizens, although the platform is considering further expansion into new territories.

EO.Trade

EO.Trade is a full Cryptocurrency Exchange from the same company as ExpertOption which will allow you to trade 4 coins currently and also allows for direct fiat purchases.

This was funded by a crowd-sale for their own EO Coin which will be usable throughout the ecosystem.

EO.Finance

We have covered the company behind ExpertOption before here on Blockonomi where we looked at their EO.finance wallet.

This is a Cryptocurrency wallet which allows you to purchase Cryptos with fiat, with this you are actually purchasing the assets themselves and are then able to transfer them out to your wallets for holding or trading on other platforms.

Is ExpertOption Safe to Use?

To protect client security, ExpertOption is verified by MasterCard and Visa. This is done via Verified by Visa and Mastercard SecureCode status. ExpertOption also has icons for Cert Trusted Secure and PCI DSS Complaint.

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 confirm this by viewing the lock icon by the URL in your browser and via the fact that ExpertOption uses an https:// address instead of an http:// one.

ExpertOption earned the title of “Best Trading Platform” during the China Trading Expo Shenzhen in May 2020.

Although the broker does not list any other awards in an obvious place on its website, it does also have mostly positive reviews from users and independent websites.

Conclusion

ExpertOption is a trading platform choice for those who want access to more than 100 digital options. This is not an ideal platform for those who want to engage in traditional cryptocurrency trading but is useful for those who want to trade options with binary outcomes at their expiration.

The platform is easy to use and provides more than educational resources. The social element of ExpertOption is also particularly useful, particularly for beginners and those who like to compare their trading strategies. It stands out with its cryptocurrency offerings since many brokers are only beginning to offer this type of asset while ExpertOption has several.

You should be aware of your countries regulations when it comes to trading these types of instruments, many countries do not allow this type of trading and it is not recommended for complete beginners as it is possible to quickly lose money if you do not know what you are doing.

Overall, ExpertOption offers a very user-friendly website and platform and a low minimum investment, which helps it appeal to a range of traders. Those interested in digital options should consider at least using the demo account, particularly if an element of social trading is important.

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