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Is Expert Option legal in India?
Expert Option is one of the most recognised binary options brokers, all over the world; and a highly respected one at that. This is partly due to the fact that it has been in the game for fairly a long time, having been founded in 2014. ExpertOption boasts a membership of 9 million traders, with over 30 million deals being completed on its platform per month.
According to statistics from both the Google Play Store and the Apple App Store, Expert Option app is ranked as one of the top financing apps in over 47 counties. Similarly, it was ranked the fastest-growing app in the finance category in many countries.
Expert Option India services
ExpertOption is noted for providing stellar binary options trading services, notable among which are:
- Maximum Payout
The payout rate offered by Expert Option for successful trades is one of the highest in the industry. With ExpertOption, the lowest payout rate you can get is 80%, whilst the maximum can go as high as 95%. This is in the same binary options industry where we have payouts of as low as 17%.
- Low Commissions
Another remarkable thing about ExpertOption is the amount of commissions, fees and charges that clients incur for trading with them. As we will see later, Expert Option’s trading commissions are some of the lowest in the industry.
- Trading Hours
The ExpertOption trading platform is open 24 hours a day all through the 7 days a week; meaning it is available all year round. So, anytime you feel like it, you can simply login via any of the trading channels and start making trades. This gives traders the utmost flexibility and freedom to tailor their trading to their lifestyles.
However, we must note that not all markets are open at all times. While the ExpertOption trading platform can be accessed and trades made at any time traders wish, trading is still limited to the hours in which the markets you wish to trade on are open. For instance, the forex market which is tradable on ExpertOption, is not always open all through the week. You can’t trade during weekends and specific national and international holidays. This is the same case for stocks and commodities.
However, that is not the case for cryptocurrencies, as they are always open, at all hours. As a result, it is advisable that you don’t limit yourself to only one or few instruments.
- Customer Service
The ExpertOption customer support is available mainly in English and Hindi. You can speak to customer support representatives 24/7, and access opt-ins include via email, telephone or via a customer care form that is embedded into ExpertOption mobile and desktop applications.
If you are an English speaker and wish to contact the customer service, you can email via firstname.lastname@example.org, or call via +44 20 3868 3160. For Hindi speakers, the email is email@example.com while you can call 000 800 442 0002.
Demo account for Indian traders
ExpertOption provides its traders with a $10,000 binary options demo account. What is remarkable is that as you may have seen above, you don’t need to sign up to be able to trade with ExpertOption’s binary options demo account. This means that Expert Option does not get your personal details before giving you access to a demo account.
This is contrary to the norm with most binary options brokers who expect you to register with your personal data before you can be given access to a virtual account. One more remarkable thing is that on the demo account you have access to all the standard features of a live account.
As to the assets available for trading, Expert Option boasts one of the most comprehensive collections of instruments. You can trade CFDs, Forex pairs, company stocks, commodities, equity indices as well as individual cryptocurrencies. However, it must be noted that not all assets are available in every country.
Furthermore, ExpertOption provides traders with a lot of bonuses and promotional offers, one of which is a 100% bonus on their first deposits. However, it must be noted that there are some downsides to this. For one, there are usually strict conditions to be observed. For instance, you may be expected to make a turnover of up to 50x your original capital before you can make any withdrawals.
Every good broker is expected to create services geared towards creating better experiences for traders. One of such is trader training. Expert Option provides you with an educational section, which is quite accessible as it is embedded with the mobile application. That means that you can learn on the go. The education materials are comprehensive as they cover every aspect of trading education you will need to trade with ExpertOption.
One more good thing about the trading education is that it is entirely presented in video format. Audio-visual learning has been noted to be one of the most impactful forms of learning, and one which fits almost all classes of persons.
ExpertOption minimum deposit in India
As is common with most binary options brokers, Expert Option operates a segregated account structure, in which there are different live account levels that traders can open.
There is the Micro Account, which is largely targeted towards beginner traders. It requires a deposit between $10 and $49. Perks that come with this account include access to educational materials, a maximum number of 10 trades allowed to be opened at a single time. The maximum trade value here is $10. Next is the Basic Account which requires a minimum deposit of $50 and a maximum of $499. You also have access to educational resources; you can open 10 trades at a particular time, and you can open trades worth up to $25.
Up next is the Silver Account which requires a deposit of between $500 and $2,499. In addition to the educational resources, you also have access to daily market reviews and financial research. The number of trades you can open at a time increases to 15; and you are allowed a maximum trade of $250.
For a deposit of between $2, 500 and $4,999, you get the Gold Account on which you have access to not only educational resources and daily market reviews and financial research, but also priority withdrawal. You are allowed to open up to 30 trades at a time, and your maximum trade value is $1,000.
Then, we have the Platinum Account, which requires a deposit of $5,000 and above. With this account, you can open an unlimited number of trades, and your maximum deal amount is now increased to $2,000. Finally, there is the Exclusive Account. With this account, you can bet up to $3,000 on a single trade and open an unlimited amount of trades as well. However, you can only get this account by invitation.
ExpertOption withdrawal in India
To discuss the process of Withdrawal, we must first know the deposit process. You can make deposits into your real account via many channels including bank cards (debit and credit) provided by MasterCard, Visa and UnionPay. You can also deposit through e-wallets including Skrill, Neteller, FasaPay, Perfect Money. Lastly, there is also the option of bank transfer. If you make a deposit through any of the above options, your trading account gets credited almost instantly. However, the bank transfer option may take several hours, if not days to reflect. There are no commissions charged on deposits.
The above options are also the same channels through which you can make withdrawals. It must be noted that whatever channel you choose to make deposits, is also the same channel through which you can make withdrawals. This is not limited to Expert Option. Most binary options brokers introduced this policy to guard against fraud and laundering of funds. Also, it helps ensure quicker transactions.
Scam in India
There are several participants in the binary options brokerage space, with many more springing up from time to time, with newer brokerage models and more fascinating offers to lure traders to their platforms. So, a trader in search of a broker of choice is faced with a myriad of choices. Unfortunately, not all of them can be regarded as credible. In fact, it is sad to note that there are more scams in the binary options brokerage space than there are real and credible ones. However, that should not discourage you from trading binary options. What you have to do is become aware and educated on how to spot the right brokers.
Good and authentic brokers have some common traits. For one they usually have credibility. Just a random search online will assist you in determining if the broker is one which is worth it or not by sampling the opinions of people. By far, one of the most important attributes again is if such a broker is regulated by a credible government financial authority in whatever country. Being a regulated broker does a lot of good to both the promoters of such a broker and the clients who sign up with them.
Although there are many more factors that play out when it comes to deciding on a broker, we believe that the above are a starting point. And Expert Option, the broker under review, passes the above tests excellently. It is a credible broker. Furthermore, it is regulated by many financial authorities.
Conclusion: Expert Option is legal in India
We can say that the level of your profitability in binary options trading is largely connected to how good your broker is. Thus, when choosing brokers, you have to do so properly. Expert Option offers you a top-notch trading experience that aims to make your trading experience much easier.