ExpertOption Review

ExpertOption Review: Choosing a binary options broker is a tall task, and it requires immense research on various brokers to select the most suited dealer. Every now and then, we come across a new binary broker in the market and as a responsible reviewer, we scan the broker through our rigorous review process. Today, we are going to review a fairly new broker called ExpertOption.

As a trader, you should do your own research before putting your money at work and our endeavor is to provide a fairly neutral review to our readers in order to assist them in their research for the best. Also, we review various brokers so that our readers don’t fall in the hands of the con artists.

The following text describes the various facets of the brokerage site named ExpertOption, along with its pros and cons.

 

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ExpertOption Review

The ExpertOption website is owned and operated by the ExpertOption Ltd and is situated at Saint Vincent and the Grenadines.

ExpertOption has developed its own customized platform to serve its customers. The platform is intuitive and user-friendly with a variety of assets to trade, including currency, commodities, and selected stocks & indices.

The broking house is registered with self-regulatory authority called FMRRC (Financial Market Relations Regulation Center) and has received its license in 2015 (Number:0395 AA Vv0084), which is valid for the one year. On 8-9-2016, the ExpertOption has successfully renewed its license with the self-regulator, numbered 0395 AA Vv0099 and valid till 2017.

The Platform

The ExpertOption uses indigenous software which has been built by their own team. The software has been developed by keeping the customer at the center and which is reflected in its easy to use interface, technical indicators, conveniently places tabs, and other host of features.

The website is aesthetically laid to provide convenience and soothing impact. The navigation on the website is easily comprehendible by entire strata of traders including novice and seasoned alike. The website prominently shows the advantages of using the platform along with their registration certificate. It also features top traders on the main page along with the asset traded by the top traders. The platform offers host of assets for the trading including currencies, commodity, select stocks and indices for the traders. The platform updates its quotes from Claws&Horns to provide smooth experience. This allows the trader to efficiently analyze the market on real-time basis.

The platform provides one-click demo account with $10,000 virtual currency to test and get a hang of the platform. The demo account doesn’t require registration, and it covers the real-account features in totality. The demo account also features recommendations (signals) which one can use to commence the transactions. The platform also provides analytical tools to comprehend the market and the trend of the asset to take advantage of. One of the most endearing feature of the platform is that it provides continuous stream of signals for various assets in different time frame. This is very useful for the novice traders. The only limitation with the platform is that it provides 60~300 seconds expiry and does not provide expiry for 1~7 days which lot of its competitor offers to their traders. It is available in total of13 different languages including English, Chinese, Hindi, Portuguese, Spaniel, Japanese, and others.

expertoption main page

expertoption main page

The website also provides educational material for learning the nitty gritty of the binary options trading. The learning material includes the basics and advanced knowledge along with proven strategies recommended by in-house experts. It also provides specialized online training course to sharpen their skills of the binary trading. The website also allows the traders to communicate with fellow traders in order to learn and gain for information sharing. The communication platform is single click away for any client on the platform, and in a single click it displays the leaders of various assets to chat with.

Although the site requires standard form filling to trade in real account, it does not require to enter any details to practice in the demo account. The broking company provides deposit bonuses up to 100 percent with payout ratio as high as 95 percent. The minimum deposit requirement is only $10, while it allows traders to trade with minimum $1. It accepts payment in all major currencies and registration from across the globe.

The website is also optimized for mobile devices and is available through the fully functional mobile app in Google Play Store and Apple App Store. This is specifically useful for the traders who likes to trade while they are on the move.

expertoption trading

expertoption trading

Deposits and Withdrawals

The broking company offers a variety of choices to deposit and withdraw the funds. It accepts all the major credit card vendor including Visa, MasterCard, and Maestro. At the same time, it accepts payment through net transfer services like UnionPay, Skrill, Neteller, PayWeb, PerfectMoney, Qiwi, Yandex Money, WeChat, Perfect Money and WebMoney. The minimum deposit amount is $10, which makes them preferred retail player in the arena.

The ExpertOption is proud of its withdrawal process, as it provides one of the fasted withdrawals through your preferred mode of withdrawals.  They claim that they have shortest turnaround time and held all the funds in a banks for security purposes. The ExpertOption does not levy any charges on the withdrawals but there may be charges levied by the wallet service or credit card company on the transactions. The organization restricts first withdrawal equals to the deposit amount, if the payment has been made through credit/debit card or e-wallet while it allows to withdraw full payment to any online fund management services. The minimum amount of withdrawal is capped at only $10.

expertoption available on mobile devices

expertoption available on mobile devices

Signup and Bonuses

The company requires very few information like e-mail address and passwords, and once entered it redirects to the payment page with a host of options. The organization offers up to 100 percent as bonus depending up on the type of account chosen.

It offers 100 percent welcome bonus for the first deposit, while from second deposit onwards the percentage of bonuses differs ranging from 25 percent to 125 percent. It offers exclusive rewards for different types of accounts including the personal manager, priority withdrawal, trading analysis amongst others.

The latest offerings in terms of various goodies and monetary benefits are listed hereunder.

  • Mini Account
    • It pays bonus of 50 percent of deposit amount.
    • Maximum deal amount is capped at $20
    • Maximum number of simultaneously open deals are capped at 10.
    • The account starts with minimum deposit amount of $50.
    • It gives an access to Online Education Material.
  • Silver Account.
    • It pays bonus of 80 percent of deposit amount.
    • Maximum deal amount is capped at $50
    • Maximum number of simultaneously open deals are capped at 15.
    • The account starts with minimum deposit amount of $250.
    • It gives an access to Online Education Material.
    • Every account is assigned a Personal Manager.
  • Gold Account
    • It pays bonus of 100 percent of deposit amount.
    • Maximum deal amount is capped at $150
    • Maximum number of simultaneously open deals are not capped.
    • The account starts with minimum deposit amount of $1000.
    • It gives an access to Online Education Material.
    • Every account is assigned a Personal Manager.
    • It provides consultation from Lead Trading Experts.
    • It allows priority withdrawals.
    • It enhances the profits on various assets.
  • VIP Account
    • It pays bonus of 125 percent of deposit amount.
    • Maximum deal amount is capped at $300
    • Maximum number of simultaneously open deals are not capped.
    • The account starts with minimum deposit amount of $2500.
    • It gives an access to Online Education Material.
    • Every account is assigned a Personal Manager.
    • It provides consultation from Lead Trading Experts.
    • It allows priority withdrawals.
    • It enhances the profits on various assets.
    • It allows traders to analyze their historical trades.

Bonus Restrictions: The company requires you to trade 50x of bonus value in order to withdraw the gains and “At-The-Money” trades are not included in the volume. The trading volume requirement is higher than the competitor offerings, as they require trading volume up to 30x of the bonus amount.

expertoption accouts

expertoption accouts

Payouts and Trading

It is heartening to see that the brokerage house offers up to 95 percent payouts on specific assets, this is definitely heartening as it falls on the top strata of service providers who offers payouts in the similar range. The service provider offers limited options to trade as it offers expiry up to 5 minutes (300 seconds) only compared to its many competitors who provides assets expiring up to 7 days and in many cases up to one month.

The website offers a variety of assets for trading including currency pairs, commodities, select indices, and stocks for the traders. Still, the number of choices of assets is limited compared with other large broking company who provides assets in the range of 200 to 250. The traders are also limited with high or low options as the company does not offer services like ladders, one-touch, long-term options, amongst others.

As mentioned earlier, the trading platform has also been developed for mobile devices and it offers the apps through Google Play Store and Apple App Store.

 

Support

The ExpertOption provides its customer support services through many channels including web-forms, online chat, e-mail, and phone. The organization supports its customers in a variety of languages and provides support through local contact numbers. The following table lists all the customer care numbers and their respective e-mail addresses.

 

expertoption

 

The customer service looks robust and seems to provide services to specific sets of clientele. Also, it offers live chat for communicating with the customer care representative and also other languages to support a varied customer base that too in their respective country contact numbers.

The Verdict

The review of the ExpertOption has unwrapped many aspects of the brokerage house. The indigenous platform indicates their commitment to the business, while it offers and aims to have highest customer satisfaction through their offerings. It also provides comprehensive learning material to learn and educate oneself. Major discomfort comes from the fact that it is registered with the self-regulatory body and not a government authority. Also, it offers very limited assets and only short-term expiry which is suited to specific sets of traders and may not suite the entire spectrum of the traders. The payout ratio of 95 percent though it is on higher side, throws lots of doubts as other trusted and regulated brokers gives payouts in the range of 80 ~ 90 percent.

Though the in-house developed platform is good, it is still an un-known name in the binary options trading arena. The relatively new broker is making its way in the market, still, we would prefer other well-known name over ExpertOption. The likes of IQOption, OptionRobot and Banc De Binary are well-known names and have earned their reputation over period of time and through excellent customer service. They are regulated by government bodies and provides array of assets for the traders along with short-term and long-term expiry options to suit the entire gamut of traders.

The review indicates that it is difficult to bet on the ExpertOption because of its registration with the self-regulated body and limited offerings, we would recommend going with well-established binary brokers like IQOption, OptionRobot, and Banc De Binary to start trading.

 

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