Expert Option Review

ExpertOption is a trading platform that was founded in 2014 with the intention of establishing a transparent trading environment. Here are some important details about the company:

• Founding Year: ExpertOption was created in 2014, focusing on transparency in trading.
• Regulatory Status: The firm is governed by The Financial Commission.
• Market Presence: By 2020, ExpertOption was among the top three most downloaded financial apps on Google Play globally.
• User Base: ExpertOption has over 70 million registered users, which enhances its social trading feature.

Account Types

Expert Option provides various account types aimed at accommodating traders of different experience levels and investment amounts. There are six primary account types available:

• Micro: A basic account for beginners, requiring a minimum deposit of $10. It allows up to 10 simultaneous deals of $10 each, perfect for those starting small.
• Basic: Needs a minimum deposit of $50, offering fundamental trading features for those stepping up from the Micro account.
• Silver: Aimed at those seeking more educational content and trading tools, with a higher minimum deposit (around $500), including daily market reviews and financial research.
• Gold: For the more experienced trader or those willing to invest more, the Gold account has a minimum deposit of $2,500, offering greater returns, priority withdrawals, and other advantages.
• Platinum: This account, requiring a minimum deposit of $5,000, offers all the benefits of lower tiers plus unlimited simultaneous deals (up to $2,000 each), additional educational materials, daily financial research, and improved asset profitability.
• Exclusive: Available by invitation only, this account offers premium features tailored for high-volume or VIP clients.

Banking and Deposit Options

• Expert Option supports over 20 payment systems for deposits and withdrawals, offering a considerable range of banking options for its users.
• Common payment methods include credit/debit cards, e-wallets, and various online payment systems.
• Withdrawals are processed faster for higher-tier accounts due to priority processing features.

Additional Features

• Demo Account: A complimentary demo account is available for new users to practice trading strategies without risking actual funds.
• Account Upgrade: Users can upgrade to a higher account type by increasing their deposit, gaining access to additional features and benefits.
• Social Trading: Expert Option offers social trading features, allowing users to observe and learn from other traders in real-time.

Leverage

ExpertOption functions primarily as a binary options broker, with leverage options differing from traditional forex or CFD platforms.

Leverage Availability on ExpertOption

• No Leverage on Binary Options: For binary options trading, ExpertOption does not offer leverage. The payout and potential profit or loss are predetermined beforehand. Traders only need to invest the required amount to enter a position, without engaging in margin trading common in forex or CFD markets.
• Maximum Leverage for Other Assets: While binary options do not utilize leverage, some information states a "maximum leverage" of 1:1000 for tradable assets like forex, commodities, cryptocurrencies, and stocks. This is generally applicable to standard trading rather than the binary options for which ExpertOption is well known.

Key Points About Leverage on ExpertOption

• Binary options contracts have fixed payouts and losses, eliminating traditional leverage use.
• The platform lists leverage up to 1:1000, likely for non-binary trades if such instruments are available.
• In standard binary trading, traders are insulated from margin calls or escalated losses due to leverage—risk is confined to the amount invested in each trade.

For traders at ExpertOption, leverage is not a feature of binary options trades—your risk is always limited to your initial investment per position. While the platform may advertise significant leverage (up to 1:1000) for other asset classes, traditional leverage—as typically understood—is not available for binary options.

Asset Types

Expert Option grants access to a wide array of tradable assets within several major markets. The platform is primarily recognized for binary options trading, permitting users to speculate on the price direction of assets within a fixed timeframe. Below are the key asset types and markets available for trading on Expert Option:

Types of Assets

• Currencies (Forex Pairs): Trade major, minor, and exotic currency pairs such as EUR/USD, GBP/USD, and more. These assets usually have varying expiration times based on their volatility and volume.
• Cryptocurrencies: Trade over 10 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Dash. Cryptos are among the most volatile assets available on the platform.
• Commodities: This category includes precious metals like Gold and Silver, along with energy commodities such as Crude Oil (Brent).
• Stocks: Engage in trading shares from over 20 international firms, including renowned brands like Apple and Disney. Stock assets come with longer expiration durations to align with their market sessions.

Markets and Trading Sessions

• Assets are categorized and can be filtered for easier navigation on the platform interface.
• Trading is available around the clock, but specific assets are organized into market sessions according to their primary geographic location: Australia, Asia, Europe, and America.
• Binary options are the primary trading product on offer, as Expert Option does not provide traditional CFD or forex trading.

Platforms

Expert Option presents a complete suite of trading platforms and tools tailored to accommodate various user preferences and experience levels.

• Web-Based Platform: Accessible directly through browsers, eliminating the need for installation.
• Desktop Apps: Dedicated applications available for Windows and MacOS systems.
• Mobile Apps: Native applications for iPhone, iPad, and Android devices, ensuring smooth trading on the go.

Key Trading Tools and Features

• $10,000 Free Demo Account: Practice trading with virtual funds before placing real trades.
• Low Minimums: Initiate trading with just a $10 deposit and a $1 minimum investment.
• Asset Variety: Access to over 100 trading assets, including stocks, commodities, currencies, and ETFs.
• Analytical Tools: Four chart types, eight technical indicators, and various trend lines for thorough market analysis.
• Social Trading: Copy trades of top traders directly within the platform.
• Bonuses and CashBack: Opportunities to earn trading bonuses and cashback during trading sessions, with no withdrawal limits from real balances.
• Speed: Fast trade execution and a responsive interface with no delays or lags.
• Customer Support: 24/7 multilingual assistance and account management support.

Accessibility

Expert Option platforms and tools are available across all major devices and operating systems, including web browsers, desktop computers, and mobile devices, providing flexibility and convenience for users globally.

Expert Option is regulated by The Financial Commission, enhancing trust and reliability for its users.

Fees

When trading on ExpertOption, it's important for users to consider several key fees and trading costs:

Fees Overview

ExpertOption is recognized for providing low-cost trading conditions which include no commission on deposits or withdrawals. However, some fees and charges may still apply:

• No Deposit or Withdrawal Fees: There are no fees from ExpertOption for depositing or withdrawing funds, although payment providers might impose their own charges.
• No Trading Commissions: There are no commissions on trading in the traditional sense, unlike some other brokers. However, a percentage of winning trades might be charged.
• Commission on Winning Trades: ExpertOption typically applies a commission of up to 5% on successful trade payouts, which is lower than the industry average. Some sources indicate a flat commission of $5 on winning trades, though this could vary.
• Inactivity Fee: A monthly inactivity fee of $10 is charged if there is no trading activity for a certain period.
• Spreads: Variable spreads start as low as 0.1 pips for specific instruments, making them competitive against other brokers.
• Overnight Fees (Swap Fees): Overnight fees, known as swap fees, are charged for positions held overnight.

Pros

Expert Option boasts several advantages for traders interested in digital trading. Here are some primary benefits:

• Rapid Trading Experience: Expert Option provides quick order execution without delays, ensuring trades are performed efficiently.
• Availability and Support: The trading platform is accessible 24/7, even on weekends, with customer support available at all times.
• Diverse Asset Portfolio: Users can trade over 100 assets, including popular stocks, cryptocurrencies, forex, commodities, and indices.
• Education and Analysis Tools: The platform contains technical analysis tools, such as charts and indicators, along with educational resources like videos on market movements.
• Low Costs: With low fees and commissions, starting with a mere $10 deposit, Expert Option offers competitive trading conditions.
• Social Trading: Users can engage in social trading features, enabling them to observe and replicate trades from successful traders.
• Accessibility Across Devices: The platform is available on various devices, including mobile apps for Android and iOS, desktop applications for Windows and macOS, and a web platform accessible via any browser.
• Reliable Withdrawals: Withdrawals are efficiently processed, with funds returned to the original source account to hinder potential money laundering issues.

These attributes make Expert Option a popular choice among traders, especially novices, due to its user-friendly interface and extensive trading resources.

Cons

• Lack of Strong Regulation and Investor Protection
  • Expert Option operates offshore from St. Vincent and the Grenadines, lacking oversight from reputable financial authorities and offering no investor protection in case of broker insolvency.
  • The SVGFSA, its listed regulator, is regarded as weak, with very limited safeguarding measures.
• Restricted Availability
  • Expert Option is not available to individuals in several major regions, including the USA, Canada, the European Union, and Australia.
• Withdrawal Issues
  • User complaints have been raised about challenges with withdrawals, including cases where requests were not approved or were delayed for extended periods.
• Narrow Asset Selection
  • The range of tradable assets is relatively restricted, with only about 100 binary assets available compared to the thousands offered by some competitors.
• Commissions and Payout Fees
  • Expert Option imposes a $5 commission on any winning trades and can deduct up to 5% from trade payouts, which may lessen the net profit potential.
• No Banking Background
  • The company lacks a banking background, which may raise concerns for users seeking added financial stability.
• Potential for Market Misconceptions
  • Some users believe that the demo and real account markets behave differently, leading to unrealistic expectations and potential losses during the transition to live trading.
• General Risks of Options Trading
  • Trading digital options, as with any options trading, includes high risks, including unlimited or amplified losses, limited time for trades to mature, and the challenge of accurately predicting short-term market movements.

In conclusion, while Expert Option provides a user-friendly platform and adaptable funding options, it is linked to considerable drawbacks, mainly concerning its regulatory environment, investor protection, reliability of withdrawals, and the overall spectrum of trading instruments.

Customer Support

ExpertOption offers 24/7 customer support services, ensuring traders can receive assistance at any time during the year. Their online chat support is available 24 hours a day, 7 days a week, 365 days a year.

Communication Channels

• Live Chat: Accessible 24/7 directly from the platform. This is considered one of the quickest ways to reach their assistance team, with responses generally taking merely a few minutes.
• Email: Users can contact them via email at help@eo.support.
• Phone: Support is reachable at +44 20 3868 3160, typically available during business hours.
• Contact Form: Available on their website.
• Social Networks: ExpertOption can also be approached through Facebook, YouTube, and Instagram.