How much does it cost to trade with Expert Option? – All fees explained

International trade has been a part of the lives of many people for the past few decades. International trade does involve the exchange of services and goods among people. And in this way, customers get services and goods unavailable in their own countries. Additionally, global trade has been a recognizable asset for people who are involved in that and, its importance is noteworthy. However, in international trading, Forex and Stocks play a vital role. Let’s discuss it more. 

Now, one should be aware of the difference between Forex and Stocks. Trading hours, influencer aspects of the market, volatility, liquidity, and leverage are differences between Forex and Stocks. However, the utmost difference between Forex and Stocks lies in the other thing. Forex deals with the currencies and Stocks with the shares. In elaboration, Forex trading is about buying and selling global currencies, and on the other hand, Stocks is buying and selling shares of different companies. However, it is up to the trader on which trading service he wants to get. Therefore, the trader needs to choose as per his/her trading goals. 

To tell the truth, currencies are much important aspect of the economy and development of any nation. And whether someone visits another country for work, study, or any other reason, exchanging the currency is a must. Well, let’s simplify this with an example. For instance, if any Japanese tourist visits Egypt, exchanging the currency is necessary. In this regard, the tourist needs to convert Yen to the Egyptian pound as locally, the Egyptian pound is accepted in Egypt, not the Yen. 

However, needless to say, the conversion rate requires to be good while exchanging the currencies for international trading. Certainly, the trader will expect a good conversion rate. And that is where Forex comes to play a vital role. Forex is aware of the currency rate and ensures that the traders get a good conversion rate while participating in global trading by converting the money. 

What is Forex?

Now coming to the point, the foreign exchange, aka Forex, or FX, is a global marketplace for exchanging the currencies internationally. Forex is famous worldwide for its service in different aspects like trade, finance, and commerce. In addition to that, as a portmanteau of the international currency and exchanging, Forex is the largest market in the world for its liquid assets. And using Forex, traders can deal with international trading. 

As mentioned earlier, exchanging currencies is essential if someone goes to another country or maybe purchases something from another country. For example, if any American resident wants to buy anything from Switzerland, he/she or maybe the purchasing company asks to pay the amount in the Swiss franc. Therefore, the trader needs to convert USD dollar to Swiss franc to buy anything. And it goes for traveling and visiting many places of another country as well. 

Now, converting the currencies happen through liquid pairs, and that is, Forex pairs. Moreover, currencies deal against each other in these exchange rate pairs. However, we can understand this with an easy example. AUD/USD is the currency pair for trading the Australian dollar against the US dollar. 

Apart from that, one noteworthy feature of Forex is it does not have any main marketplace for exchanging currencies. Additionally, the currencies are traded electronically, which signifies that all trading happens through computers from sitting in any corner of the world. As Forex has no central exchange marketplace, it connects all the traders worldwide. Furthermore, the Forex opens 24 hours a day. Besides, primary financial places like Frankfurt, London, New York, Tokyo, Hong Kong, Sydney, Singapore, Paris, Zurich are important for trading in currencies covering almost every time zone. 

Now, trading is not an easy task and for Forex trading, one needs to keep in mind various aspects. However, a trader has to have a good knowledge of spread while doing Forex trading. Besides, those aspects can impact the spread size as well. However, volatility liquidity can certainly affect the spread size. 

In addition to that, Forex pairs play an important role in the widening of the spread size. According to the experts, Forex pairs of high liquidity can lower the spread size. The prime currency pairs such as USD/JPY (Dollar Yen), EUR/USD (Euro Dollar), GBP/USD (Pound Dollar), USD/ CHF (Dollar Swiss franc) have the lowest spread size, primarily because of their high volumes trading. However, arising currencies like USD/MXN (Dollar Mexican Peso), USD/ZAR (Dollar South African Rand), USD/RUB (Dollar Russian Ruble) have more spreads in comparison to the prime currency pairs. So, the traders need to trade in less leverage for that. Well, let’s understand this with a table.

Prime market currency pairs

Symbol	Description	Sell	Buy	Spread
USD/JPY	US Dollar vs Japanese Yen	809	816	0.7
EUR/USD	Euro vs US Dollar	594	600	o.6

Emerging market currency pairs

Symbol	Description	Sell	Buy	Spread
USD/ZAR	US Dollar vs South African Rand	433	333	90
USD/RUB	US Dollar vs Russian Ruble	619	619	1000

So, these charts show that dealing with the prime currency pair is necessary. However, time of the day trading matters as well. Therefore, if any trader is aware of the things, he can reduce the high spread trade as well. Apart from that, if anyone chooses to trade using Forex, they can get more liquidity offers as compared to the other marketplaces.

However, a reliable and trusted broker can be of help for trading in Forex safely while a trader makes a profit out of it. And that is where ExpertOption comes to play a vital role as a broker. 

About ExpertOption

ExpertOption is one of the trustworthy brokers for online trading in Forex. This organization has established in the year of 2014. However, over these years, ExpertOption has uplifted their position so high that today, they are recognized as the most notable and reliable broker. Besides, ExpertOptions provide traders with several trading services throughout the world. As a matter of fact, ExpertOption has more than 25 million clients worldwide. 

Now, according to the report of 2022, ExpertOption cracks more than 30 million deals every month. So, this implies the far-spread reputation that has helped them to get acclaimed internationally. And ExpertOption is founded with the utmost care, reliability, transparency, honesty that it has become one of the largest Forex brokers. 

Additionally, ExpertOption is found in more than 150 countries, and it offers digital and fast online trading throughout the world. That is one of the major reasons behind the popularity of ExpertOption. Moreover, with ExpertOption, money deposit, withdrawal, and trading has become easier. It also has the option to provide binary, digital trading with the best strategies. And ExpertOption reviews the account type regularly and ensures that all the traders are profit using the organization. 

Apart from Forex, ExpertOption does allow digital trading in other platforms such as Cryptocurrencies, commodities, indices, and stocks as well. Although it has a demo account, the minimum deposit amount is 10$ here. In addition to that, ExpertOption accepts payment methods like Neteller, Perfect Money, Skrill, Webmoney, etc. 

Another unique aspect of ExpertOption is it has its platform, and this platform is customizable. Besides, it does not use platforms like MetaTrader 4 and MetaTrader 5. Further, traders can certainly check out the top traders while using ExpertOption.

Now, ExpertOption ensures that the traders get more than 100 trading instruments, including Facebook, Google, Apple stocks, commodities such as Gold, Silver, Platinum. Additionally, USD/EUR, USD/YEN, GBP/USD are the major currency pairs. Besides, cryptos such as Bitcoin, Ethereum are offered by ExpertOption as well. 

Regulated by FSA, ExpertOption is active throughout the day all over the world, and the customer response for it is noteworthy. The trading fees are low as well. Moreover, the experienced team is more focused on the service of trading. For their services, they are even chosen as the top 3 financial organizations globally. 

Another major reason for choosing ExpertOption is it provides with low spread to the trader. And it is open to all and everywhere. Further, ExpertOption primarily believes that good service and satisfying the clients are the value aspects. As the fastest growing and leading organization, ExpertOption is the most reliable. Besides, with the help of ExpertOption, it is always easy to trade for everyone, and it is in the most modern platforms like Android, Windows, Web, iPad, iPhone, macOS, etc. 

What does spread in Forex mean?

Before we discuss the significance of spread in Forex, let us discuss a few things related to spreading. There are two prices available in the trade market. One price is bid (buy), and another one is asking price (sell). And the difference between the buying and asking price is much valued. To simplify, the difference and dissimilarity between the bid price and the asking price is none other than the spread. However, the spread determines if the market can be traded or not. 

According to some experts, the gap between the bid and ask price matters as it determines the spread. Higher spreads lead to some sort of issues in the trade market. However, experts recommend having lower spreads so that the market can trade well. Therefore, the spread is the gap between the bid or buying price and the ask or selling price of the assets. 

Now, as mentioned earlier, a currency pair is a must for exchanging money. However, in this regard, we need to know that it has two parts. One is the base currency, and the other one is named the quote currency. The base currency simply signifies the currency that is needed by the trader for buying one unit of the base currency. But the quote currency implies the counter currency. We shall understand this with an easy example. 

For example, if we look at the EUR/USD trading situation, for now, it is 1:1.14. And in this case, the first currency– EUR, is the base currency, and USD is the quote currency. Thereby, it signifies that a trader must pay 1.14 USD for buying 1 EUR. Well, let’s clarify it with another example. For instance, the current rate of EUR/CHF is 1:1.06, and that means the trader has to pay 1.06 CHF for buying 1 EUR. 

Besides, ExpertOption has offered to buy the base currency against the asking price. Well, let’s understand this with an easy example. Take EUR/USD, for instance, where the bid or buying price is 1.14. However, if the ask or selling price stands for 1.12, then there is a spread of 2 pips. Moreover, the pip here implies the simple movement in price, and in this example, the pip is 2. 

Spread in ExpertOption

Now coming to this part, let’s talk more about the spread in the ExpertOptions. To put it simply, the spread of the ExpertOption relies on the dissimilarity or difference between the bid or buying price and the ask or selling price. Let’s understand this with a chart mentioned below.

Symbol	Description	Average spread (pips)
EUR/USD	Euro vs US Dollar	1.5
GBP/USD	British pound sterling vs US Dollar	1.7
USD/CAD	US Dollar vs Canadian pound	2.0
USD/JPY	US Dollar vs Yen	1.4
EUR/JPY	Euro vs Yen	1.8
EUR/CHF	Euro vs Swiss franc	1.5

Apart from these, ExpertOption offers 6 accounts, and those are, Micro account, a Basic account, a Silver account, a Gold account, a Platinum account, and the exclusive account. However, these accounts vary as it is up to the experience of any trader. Moreover, ExpertOption provides a demo account as well. 

Different fees of ExpertOption

The best thing about ExpertOption is it is free for all, and one can join and trade with ExpertOption easily. Besides, it never charges for the spread, deposit fee, or withdrawal fees. And that helps the trader to deposit, trade, and withdraw the amount easily. Besides, while trading in Forex, additional charges may apply for other brokers. However, in ExpertOption, there are no hidden charges. Let’s know more about the fees of ExpertOption. 

#1 Deposit fees

ExpertOption is a broker that does not charge for deposit fee, and this means one can open an account and deposit the amount without an extra charge for it. However, it goes without saying that the minimum deposit amount varies. However, ExpertOption allows a minimum 10$ to deposit. Additionally, as the minimum deposit is low, anyone can trade from different parts of the world.

The Payment Methods of Deposit

There are more than 20 payment options to deposit the money, and those are- 

• Credit/Debit Cards
• E-Wallets
• Perfect Money
• WebMoney
• Online Bank Transfer
• Neteller
• OrangePay
• UnionPay
• Skrill
• Bitcoin, etc. 

#2 Withdrawal fees

The withdrawal procedure for any broker system may seem very difficult to many people. However, the withdrawal procedure in ExpertOption is easy, and there are no withdrawal charges required. Although it sometimes takes 3-5 days or instantly to receive the amount. The withdrawal can be done from a real account only. However, the Gold, Platinum, and Exclusive accounts get more privileges in the withdrawal process. 

Withdrawal Methods

The withdrawal method is simple, and the methods are-

• Credit/Debit Cards
• Perfect Money
• WebMoney
• E-Wallets
• Online Bank Transfer
• Neteller
• Skrill
• OrangePay,
• UnionPay
• Maestro, etc.  

#3 Spread fees

Many broker sites charge spread fees from the traders. However, ExpertOption does not charge the traders a spread or commissions. And that can be a reason for choosing this binary trading platform. 

#4 Broker fees

Any broker fees are not asked for ExpertOption. As ExpertOption does not charge for broker fees, the traders must be assured that the transaction is happening between the bank account and the trading account. Moreover, it does not allow spread betting as well. 

#5 Overnight fees

Overnight fees are charged for ExpertOption. Overnight fees can be charged if any trader holds the position for longer than usual or maybe the trading day. Additionally, overnight fees are called swap fees as well. 

#6 Inactivity fees

Inactivity fees may be charged in many broker applications. However, ExpertOption does not charge for inactivity fees, maintenance fees, registration fees, etc. 

Conclusion

In a nutshell, ExpertOption has gained popularity among traders because of its comprehensive and digital features. Besides, the customer helps of this leading organization is noteworthy as well. Therefore, the next time one decides to do trading, choose ExpertOption for getting all the perks.

FAQ – The most asked questions about cost to trade with Expert Option :

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Last Updated on April 14, 2023 by Andre Witzel