Overview of ExpertOption
ExpertOption is a binary options broker that was founded in 2014 and is registered in Saint Vincent and the Grenadines. The broker offers a variety of financial instruments for trading, including currencies, commodities, stocks, and indices. ExpertOption has a user-friendly trading platform that is available on desktop and mobile devices, and it also offers demo accounts for traders to practice and test their trading strategies.
ExpertOption provides a social trading platform, which allows traders to follow and copy the trades of other successful traders on the platform. ExpertOption also provides a range of trading tools and resources, including market analysis, economic calendars, and trading signals.
ExpertOption's customer support team is available 24/5 through live chat, email, and phone. The broker also offers a FAQ section on its website to provide answers to common questions.
Is ExpertOption legit or a scam？
ExpertOption is not regulated by any major financial regulatory authority. The company is based in Saint Vincent and the Grenadines, which is a popular destination for offshore forex and binary options brokers due to its lax regulatory requirements. As such, traders should be aware of the potential risks of trading with an unregulated broker. It is important to note that the lack of regulation does not necessarily mean that the broker is a scam, but it does mean that traders should exercise caution and thoroughly research the broker before opening an account.
Pros and Cons
ExpertOption's Pros and Cons table shows that the broker has some advantages, such as a low minimum deposit requirement and the availability of a demo account. It also offers a variety of trading instruments and a mobile app for traders who prefer to trade on-the-go. However, the broker lacks regulation, and there have been some complaints regarding the withdrawal process and customer support. Traders should carefully consider the risks and benefits before deciding to trade with ExpertOption.
Market Intruments
ExpertOption offers a variety of tradable assets in different markets, including forex, commodities, cryptocurrencies, stocks, and indices. Traders can choose from over 100 assets to trade, including popular currency pairs like EUR/USD, commodities like gold and silver, cryptocurrencies like Bitcoin and Ethereum, and stocks from major companies like Apple, Amazon, and Coca-Cola. Additionally, ExpertOption offers a unique feature of trading options on a range of assets, providing traders with more flexibility and opportunities to profit from market movements.
Account Types
ExpertOption offers five different account types: Basic, Silver, Gold, Platinum, and Exclusive. The Basic account is the most basic account type, while the Exclusive account is the most advanced. Each account type offers different benefits and features. The minimum deposit required for the Basic account is $50, while the minimum deposit required for the Silver, Gold, Platinum, and Exclusive accounts is $500, $2,500, $5,000, and $10,000, respectively.
The Basic account offers basic features such as a demo account, 24/7 customer support, and access to educational materials. The Silver account offers all the features of the Basic account, as well as access to a personal account manager, trading signals, and higher profit payouts. The Gold account offers all the features of the Silver account, as well as access to a personal analyst, priority withdrawals, and a 2% increase in profit payouts.
The Platinum account offers all the features of the Gold account, as well as access to exclusive strategies, customized investment plans, and a 4% increase in profit payouts. The Exclusive account is the most advanced account type and offers all the features of the Platinum account, as well as access to a VIP consultant, exclusive events, and a 6% increase in profit payouts.
How to open an account？
To open an account with ExpertOption, follow these simple steps:
Visit the ExpertOption website and click on the “Real Account” button located at the top right-hand corner of the homepage.
You will be directed to a registration page where you will need to provide your email address and password. Alternatively, you can sign up using your Facebook or Google account.
Next, select your preferred account currency and input your personal details, including your name, phone number, and country of residence. Read and accept the terms and conditions, as well as the privacy policy, then click on the “Register” button.
Verify your email address by clicking on the confirmation link sent to your email.
Log in to your account using your email and password. Fund your account using one of the available deposit methods. Start trading binary options on the ExpertOption platform.
Leverage
As a binary options broker, ExpertOption does not offer leverage. The payout and potential profit or loss are predetermined when placing a trade, and the trader only needs to invest the required amount to open the position. This is one of the key differences between binary options trading and other forms of trading such as forex or CFDs, which often offer leverage to traders.
Spreads & Commissions (Trading Fees)
As a binary options broker, ExpertOption does not charge spreads or commissions on trades. Instead, the broker makes money through the payout structure of the binary options contracts. ExpertOption does not have a fixed payout rate for all trades. The payout rate depends on the asset being traded, the type of trade, and the market conditions at the time the trade is executed. Generally, the payout rate ranges from 60% to 95%. The broker provides this information on their platform before executing a trade, allowing traders to know the potential profit or loss before entering a trade.
It's worth noting that binary options trading carries a high level of risk and is not suitable for all investors. Traders should carefully consider their trading objectives and risk tolerance before opening an account with ExpertOption or any other binary options broker.
Non-Trading Fees
ExpertOption charges a dormant account fee of $10 per month for accounts that have been inactive for 180 days or more. This fee is deducted from the account balance and continues until the account balance reaches zero. It is important to note that the broker will send a notification to the account holder prior to charging this fee, and the fee can be avoided by simply logging into the account and making a trade or deposit.
Trading Platform
ExpertOption offers a proprietary trading platform for binary options trading, which is available in both web-based and mobile versions. The platform is user-friendly and intuitive, with a simple and sleek design that makes it easy for traders to navigate and execute trades. It also offers a range of trading tools and features, including a wide selection of trading assets, trading indicators, and analytical tools. Additionally, the platform supports multiple languages and is available for download on both Android and iOS devices.
Social Trading
ExpertOption offers a social trading feature called the “Traders' Sentiment” tool. This tool allows traders to see the percentage of traders who are buying or selling a particular asset. This information can be helpful for traders in making trading decisions.
ExpertOption also has a feature called the “Strategy Advisor.” This feature provides traders with trading signals that are generated by algorithms based on market trends and indicators. Traders can use these signals to inform their trading decisions.
In addition, ExpertOption offers a “Copy Trading” feature, which allows traders to copy the trades of other successful traders. This feature is particularly useful for novice traders who may not have the experience or knowledge to make informed trading decisions on their own.
Deposit & Withdrawal
When it comes to deposits and withdrawals, the broker offers several options. For deposits, clients can use Visa, Mastercard, Maestro, Skrill, Neteller, and a range of other payment methods. The minimum deposit amount varies depending on the payment method used, with some options requiring as little as $10.Withdrawals can also be made using the same payment methods. The minimum withdrawal amount is $10, and the processing time can take up to 2 business days. It is important to note that some payment methods may have additional fees or processing times, so clients should check with their payment provider for more information.
Customer Support
ExpertOption offers a range of deposit and withdrawal options to its clients. Deposits can be made using credit/debit cards (VISA, MasterCard, Maestro), e-wallets (Neteller, Skrill), and cryptocurrencies (Bitcoin, Ethereum, Litecoin). The minimum deposit amount varies depending on the account type and ranges from $10 to $5000.
Withdrawals can be made using the same methods as deposits, with processing times ranging from 2 to 5 business days depending on the method. It is important to note that clients must withdraw funds using the same method they used to deposit, and they may be required to provide additional documentation for verification purposes.
ExpertOption does not charge any deposit fees, but it does charge withdrawal fees depending on the method used. These fees can range from 0.9% to 9%, with a minimum fee of $10.
Educational Resouces
ExpertOption offers a variety of educational resources for traders to improve their trading skills and knowledge. These resources include:
Video tutorials: ExpertOption has a large library of video tutorials that cover topics such as trading strategies, technical analysis, and risk management.
Webinars: The broker regularly conducts live webinars hosted by experienced traders and financial experts. These webinars cover a range of topics and provide valuable insights into the markets.
E-books: ExpertOption offers free e-books that cover various trading topics such as forex trading, binary options trading, and trading psychology.
Trading signals: The broker also provides free trading signals to its clients. These signals are generated by professional traders and are designed to help traders identify profitable trading opportunities.
Demo account: ExpertOption offers a free demo account that traders can use to practice their trading skills and test their strategies in a risk-free environment.
Conclusion
ExpertOption is an online binary options trading platform that offers a variety of trading instruments, including currencies, commodities, stocks, and cryptocurrencies. It offers multiple account types with varying benefits and requires a minimum deposit of only $10. The broker also provides social trading features, allowing traders to copy the trades of successful traders. However, ExpertOption is not regulated by any reputable financial authority and has been associated with some negative reviews, including issues with withdrawals and customer support. Traders should exercise caution when trading with ExpertOption and conduct thorough research before depositing funds.
FAQs
A: ExpertOption is registered in Saint Vincent and the Grenadines and is not regulated by any major regulatory body.
A: ExpertOption offers a variety of trading instruments including currency pairs, stocks, commodities, and cryptocurrencies.
A: The minimum deposit required to open an account with ExpertOption varies depending on the account type. The Micro account requires a minimum deposit of $10, while the Exclusive account requires a minimum deposit of $50,000.
A: Yes, ExpertOption offers social trading through their platform, allowing traders to copy the trades of successful traders.
A: ExpertOption offers a proprietary trading platform as well as a mobile app for both iOS and Android.
A: ExpertOption does not charge any fees for deposits or withdrawals. However, third-party payment processors may charge fees.
A: While ExpertOption is not regulated by any major regulatory body, there have been no reports of it being a scam. However, traders should exercise caution and thoroughly research the broker before investing any funds.
A: Yes, ExpertOption offers a free demo account for traders to practice trading without risking any real funds.
2024-11-26 17:45
2024-11-13 16:41
