Expert Option review and test – How good is the platform?

REVIEW:	REGULATION:	ASSETS:	YIELD:	MIN. DEPOSIT:
(4.5 / 5)	TFC	100+	80 – 90%+	$10

Reliability is as significant as choosing a trustworthy broker. Nowadays, there are a lot of scams and unreliable brokers circulating the internet. As a trader, we want to put our investments in a trusted brand as well as the option of the expert. Expert Option claims to be a legit, expert, and transparent online broker. How reliable is the Expert Option? Is it a scam or not? Does the brand live up to its name as the option of experts? Let’s find out together in this review.

(Risk warning: Your capital can be at risk)

What is Expert Option? – The broker presented

Transparency is the core value of Expert Option and the reason the company was established. It was founded in 2014 and dedicated its services to its clients by giving them a 100% transparent digital trading experience. Expert Option provides its clients with user-friendly platforms and educational materials that are very helpful in their trading journey. The company commits to providing the best customer service, the value of simplicity yet powerful platforms, offering fast trading executions using cutting-edge technologies, and being a reliable broker by going the extra mile for their clients’ needs.

See our video review for the first impressions: 

Facts about Expert Option:

• Founded in 2014
• Transparent trading experience
• Offers fast trading execution
• Offers over 100 assets
• Offers transparent trading experience
• User-friendly yet powerful platforms
• Values customer’s needs and wants
• Multiplatform

⭐ Rating:	4.5 / 5
🏛 Founded:	2014
💻 Trading platforms:	Web trading platform
💰 Minimum deposit:	$10
💱 Account Currencies:	USD
💸 Withdrawal limit:	$10 minimum withdrawal
📉 Minimum trade amount:	$1
⌨️ Demo account:	Yes
🕌 Islamic account:	No
🎁 Bonus:	Yes
📊 Assets:	Forex, Cryptocurrencies, Stocks, Forex
💳 Payment methods:	More than 20 payment methods
🧮 Fees:	No
📞 Support:	24 / 7 support via chat
🌎 Languages:	16 languages

(Risk warning: Your capital can be at risk)

Is Expert Option regulated? – Regulation and safety for customers

Regulation and authorization are the most significant factors you need to be aware of in choosing a broker to trade with. These factors are proof that the broker or company has passed all the criteria in order to operate legitimately. Expert Option is regulated by The Financial Commission. The full name of the company is ExpertOption Ltd. It is located in Saint Vincent and the Grenadines at 1510 Kingstown, Suite 305, the Griffith Corporate Centre, with registration number 22863, and payments are processed by Vestede Limited, based in Gibraltar, with company number 116061. Additionally, clients benefit from the insurance policy of the compensation fund, with coverage of up to 20,000 Euros per account.

Expert Option is regulated by the following:

• The Financial Commission

Financial security

The security of finances or our investments is the top priority of each and every trader. Expert Option claims to be founded with the vision of providing its clients transparent trading experience. The brand commits to providing accurate quotes to its clients from real-time market data that are provided by leading analytical agencies.

Also, for the security of its clients, Expert Option is verified by Visa and MasterCard. The website uses SSL encryption. Thus, all the data is encrypted with the strongest cryptographic algorithms. In addition, ExpertOption segregates the client’s funds and is held in accounts with investment grade-A banks. The company gives its best to be transparent to its clients. The brand also values the trust of its traders. With this said, reliability is very significant, as well as trust. ExpertOption provides extra solidity, wherein the company does more than anyone else to satisfy the needs of its clients. We can say that Expert Option is a reliable and trustworthy broker.

Summary of the regulation and financial security:

• Transparent
• Segregates client’s funds in grade-A banks
• Verified by Visa and MasterCard
• The website uses SSL encryption
• Provide accurate quotes
• Secure
• Reliable

(Risk warning: Your capital can be at risk)

What are the pros and cons of ExpertOption?

ExpertOption is a trusted and regulated broker which accepts clients from 48 countries around the world. Also, they have many satisfied clients and are rated “excellent” on Trustpilot, with more than 1,200 reviews. This rating isn’t the only factor you should consider, of course, but still, it can give you a good first indication. We tested ExpertOption for multiple days as well, and we can give you the pros and cons below to help you make your decision.

Pros of ExpertOption	Cons of ExpertOption
✔ Compatible with all devices	✘ No trading platforms integrations for MetaTrader 4 or MetaTrader 5
✔ Insurance coverage of up to 20,000 Euros via the compensation fund	✘ Only suitable for short-term binary option trading
✔ High safety standards
✔ High yield of up to 95% on some assets
✔ Support team available 24 / 7
✔ Custom-developed platform
✔ Fast execution of orders

Review of the trading conditions for traders

Expert Option is a global trading platform with the vision of providing a transparent trading experience to its clients. This broker offers more than 100 assets to trade on and as well as trading binary options with a high yield of up to 90%. Like with a Forex Broker you can trade a lot of different currencies. The platform of Expert Option is custom-developed, which makes it better compared to other platforms.

This platform has advanced analytical tools and offers lightning-fast execution. Expert Option won the title of “Best Trading Platform” during the China Trading Expo in Shenzhen in May 2017, proving that its platform is simply reliable and is living up to its potential.

Expert Option is verified by Visa and MasterCard. The website of this broker uses SSL encryption. Thus, all the data is encrypted with the strongest cryptographic algorithms. Also, since the vision of this broker is to provide transparency to its clients, they assure customers that they provide information about funds and that the company segregates the client’s funds and is held in accounts with investment grade-A banks.

The brand also values the trust of its traders. ExpertOption provides extra solidity, wherein the company does more than anyone else to satisfy the needs of its clients. Customer support is ready to help always, as it operates 24 hours a day, seven days a week, which is quite exceptional as most other brokers have a support team available 24 / 7.

Facts about the conditions for traders:

• Offers more than 100 assets
• Offers lightning-fast trading execution
• Offers transparent trading experience
• The minimum deposit is $ 10
• Multiplatform
• Custom-developed platform
• Secure and reliable
• Regulated
• 24/7 customer support
• Free demo account with free $ 10,000 virtual funds

Is ExpertOption a user-friendly platform?

Criteria	Rating
General Website Design and Setup	★★★★★ The set-up of the website is clean and minimalistic, and we like the informative, educational section as well
Sign-up Process	★★★★★ No personal details are required for a demo account. Application for a live account is also very easy
Usability of trading area	★★★★★ Trading area on Webtrader is self-explaining and extremely easy
Usability of mobile app	★★★★★ Platform and the respective app is perfectly optimized for all devices

(Risk warning: Your capital can be at risk)

Test of the Expert option trading platform

Expert Option offers a simple yet powerful trading platform. The company won the title of “Best Trading Platform” during the China Trading Expo in Shenzhen in May 2017.

See a screenshot of the platform below:

The platform is user-friendly and provides educational resources, which equips traders to have the advantage of advanced analytical tools to formulate and make informed decisions. ExpertOption had this platform custom-developed that offers lightning-fast execution of trades with an accurate price feed. This platform is available on all devices.

(Risk warning: Your capital can be at risk)

It is available on all kinds of devices, either desktop (both Windows and macOS), Android, or iOS. It is fast and easy to download. You can go to the official website of Expert Option, and there is a link there where you can download the app for the desktop.

It is free to download. For mobile or tablet, you can get it from Google Play or AppStore. The platform enables clients to access a wide range of stocks and over 100 trading assets. It is easy to operate, and you can expect real-time live quotes.

Additionally, the Expert Option trading platform can also be used via the browser without downloading the app. Also, the platform is available and compatible with all kinds of browsers. Thus, also a plus of the company’s platform is that gives its clients a hassle-free trading experience.

Expert Option Trading Platform Features:

• Available in all kinds of device
• Custom-developed
• Advanced analytical tools
• Offers lightning-fast trading execution
• Offers Mobile Trading
• User-friendly
• Powerful platform
• Real-time live quotes

(Risk warning: Your capital can be at risk)

Professional charting review and analysis for traders

Analyzing markets and their volatility is the main thing you need to know in trading. Charting helps you better understand and view how the market is moving, either going up or going down. With the help of charting, you can identify whether you should buy or sell. When volatility is high, the value can potentially spread out over a larger range, and the price can change rapidly in a short period of time in either direction it moves.

The popular charting style most traders are using is candlestick charting. The candlestick chart style is used to describe and identify the movements of the price of a financial chart. This includes the derivative, security, and/or currency price movement. Each candlestick usually represents one day. Thus, it may show 25 candlesticks for 25 days of trading in a month. The candlestick bars are rectangles with upper and lower lines. The rectangle is the candlestick body, and the lines are called candle shadows.

These rectangles include the open price, high price, low price, and close price. The open price is the price at the beginning of the interval. The high price is the maximum price, while the low price is the minimum price during this interval. The close price is basically the price at the end of the interval.

There are two kinds of candlesticks: Bullish Candles and Bearish Candles. Bullish Candlestick is showing price growth and an opening price, which is lower than the closing price, while Bearish Candlestick is showing a price fall and an opening price, which is higher than the closing price.

Candlestick analysis is mostly used by traders due to its simplicity. When a trader is able to remember and know the basic rules of candlestick charting, then the trader may be able to foresee future price movement and receive good trades as a result.

(Risk warning: Your capital can be at risk)

Review of the mobile trading (app) by Expert Option

Expert Option also offers its clients the power to trade in the palm of their hands. Mobile trading is known to be the most convenient and on-the-go option for traders. This enables traders to trade whenever they want and wherever they are while connected to the internet. Expert Option has custom-developed its platform to make it better compared to other broker’s platforms. It offers lightning-fast trading execution and gives clients access to a wide range of stocks and over 100 trading assets. It is user-friendly, and traders can expect real-time live quotes. It has advanced analytical tools and a simple yet powerful platform. Plus, it is free to download. You can get it from Google Play (Android) or AppStore (iOS).

Features of Mobile App:

• Custom-developed
• Offers lightning-fast trading execution
• User-friendly and Powerful platform
• Real-time live quotes
• Advanced analytical tools
• On-the-go trading
• Customer Support
• Secure

(Risk warning: Your capital can be at risk)

How does trading with ExpertOption work? – Step-by-step tutorial

In order to have successful trades, one must know how to trade and know what he/she wants to be traded on. Expert Option mostly focuses on trading binary options. A binary option is a special financial option wherein either you payoff some fixed monetary amount or nothing at all.

First, you need to choose or select an asset you want to trade on. Then, decide how much you are willing or want to invest. Place the time when the trade should end. Afterward, you can identify whether the price will go up or down.

Please be aware that binary options are complex trades with a high level of risk. If you don’t fully understand how binary options work, it can result in the loss of your funds. We highly recommend getting a demo account or a practice account first before going live to avoid unintentional trading executions.

Step-by-step trading tutorial:

1. Choose or select an asset to trade.
2. Decide how much you want to invest.
3. Decide when should be the end of the trade.
4. Identify whether the price will go up or down.
5. Open the trade
6. Wait till the result (end of expiry time)

Open your free demo account with Expert Option

We highly recommend that you get a free demo account first before trading in a real account. This is due to the fact that trading requires high risk. Unintentional trades may result in losing all your funds and/or investments. If you don’t understand how trading works and how to trade, it is best to practice your trading style and trading strategies in a demo account.

Expert Option offers a free demo which includes free $10,000 virtual funds that you can use to practice trading executions and your own strategies. When you go to the official website of Expert Option, it will direct you to a demo account. Or if you are on the homepage, just click on ‘Try free demo’, and it will direct you to the demo account.

(Risk warning: Your capital can be at risk)

Overview of the account types with Expert Option

As a leading broker, Expert Option gives its clients the ability to choose what type of account suits them best. Micro Account and Basic Account are best for those who prefer to start light, and both have ten as the maximum number of simultaneously open deals. The difference between these two is the maximum deal amount – Micro has $10, while Basic has $25. The Silver Account has daily market reviews and financial research as an additional feature.  The maximum number of simultaneously open deals is 15, and the maximum deal amount of $250. Gold, Platinum, and Exclusive has all the features but has the advantage of priority withdrawal. Platinum and Exclusive have no limit within terms of a maximum number of simultaneously open deals, while Gold has 30.

ExpertOption offers the following accounts:

In the chart below, you will find an overview of the benefits and requirements of each account type.

	Micro	Basic	Silver	Gold	Platinum	Exclusive
Minimum Deposit	$10	$50	$500	$2,500	$5,000	Invitation only
Access to educational material	Yes	Yes	Yes	Yes	Yes	Yes
Priority Withdrawal	No	No	No	Yes	Yes	Yes
Maximum deal amount	$10	$25	$250	$1,000	$2,000	$3,000

Registering an account with Expert Option is easy and fast. You can register using also social media accounts like Facebook, or your Google account. All you need is to give in an email that is active and create a password. Account deposit depends on which account you choose to open, however, in general, a real account requires a minimum deposit of $10 with ExpertOption.

(Risk warning: Your capital can be at risk)

Review of the deposit and withdrawal methods

A fast deposit and withdrawal process is being offered by Expert Option. There are various payment methods that you can use with this broker. With these options, it gives the clients a variety of selections and a way for the broker to help its clients to expedite the process. Expert Option works with over 20 payment systems.

Customers can use credit or debit card that is supported by Visa, MasterCard, Maestro, and UnionPay. Also, it is integrated with electronic payment methods like  Neteller, Skrill, Perfect Money, FasaPay, and others. Also, Expert Option owns eo.finance, which you can use as a platform for payments and funding transactions.

Selection of payment methods that can be used:

• Wire Transfer
• eo.finance
• WebMoney
• PayPal
• QIWI
• Yandex Money
• Neteller
• Skrill
• UnionPay
• PM
• fasapay
• epayments
• MasterCard/Visa
• Maestro

Does ExpertOption come with negative balance protection?

Yes, due to the nature of binary trading and no leverage, you can never lose more money than the amount you invest, and your account balance can’t go negative.

(Risk warning: Your capital can be at risk)

Eo.Finance – A new invention by Expert Option

eo.finance wallet is Expert Option’s own payment platform. It is a licensed crypto wallet with the support of over 20 currencies and debit/credit card payments. This is a Cryptocurrency wallet that enables you to purchase Cryptos with fiat, with that said, you can purchase the assets themselves and then be able to transfer them out to your wallet holdings or even trade on other platforms. This platform enables clients to easily add funds using bank cards and wire transfers. ExpertOption works with all crypto wallets and exchanges, so clients can use eo.finance for storing and holding their funds.

eo.fonance is a secure payment platform that is licensed by Estonian Financial Intelligence Unit FRK000161 and FVR000193. This payment platform has 24/7 customer support and is continuously developing more products to better serve its clients.

You can contact their support through live/online chat, email ([email protected]), and phone (+44 208 0893 657).

(Risk warning: Your capital can be at risk)

Expert Option review of support and service

Expert Option has excellent customer support. The agents or representatives are friendly, approachable, and professional. The company commits to providing the best customer service and being a reliable broker by going the extra mile for its clients’ needs. You can contact support through phone, email, and live chat. Below are the contact details:

The firm also offers educational materials that can help any trader with their journey. On the website, you will find these helpful materials, which include a Glossary, articles, and explanations about technical analysis, graphical analysis, fundamental analysis, the psychology of trading, and trading strategies.

The online chat operates 24 hours a day, seven days a week. It is also possible to send an email by filling up the query form on the website. Just fill it up with the necessary information, like your name, email address, phone number, and your message. A professional agent or customer support will get back to you afterward.

Expert Option customer support and services are available in English, Chinese (2 variations), Thai, Hindi, Korean, Portuguese, Vietnamese, Arabic, Turkish, Indonesian, Malaysian, Spanish, Polish, and Filipino. All of these 15 languages are also available for the web version of the ExpertOption platform. However, for phone support, only two languages are available, and these are English and Hindi.

Fees and costs

Expert Option doesn’t charge commissions on transactions. However, the payment system you might use may charge a commission. There are no hidden fees, and the minimum deposit is $50.

How does ExpertOption make money from you?

Compared to other forex brokers, you don’t have to worry about any fees, spreads, or commissions. Binary picks brokers hold a proportion of this as their income and commission.

For example, if ExpertOption has 200 active traders, 100 of whom bet $100, that trading pair USD / EUR will rise within the next minute while the other half bet an identical sum against it. If you calculate with an 80% payout ratio, each trader from the victorious team will get a payout of $180 while the rest will lose their investment. The total payoff of $18,000, which means the remaining $2,000 will go to the broker as profit.

Accepted countries and forbidden countries

Expert Option doesn’t provide services to citizens and residents of the USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, North Korea, Puerto Rico, Singapore, Bangladesh, Vanuatu, Yemen, and Sudan. This is due to regulations and legal reasons. Expert Options focuses on digital options that have a binary outcome, and these countries have boundaries with regard to trading binary options.

(Risk warning: Your capital can be at risk)

What are the best ExpertOption alternatives?

We are almost at the end of today’s article. Before we conclude it, we would like to give you our most recommended alternatives.

Captial.com

Captial.com is one of the biggest online brokers available and is certainly very trusted. They managed to attract millions of users thanks to the simple interface and the dedicated support team. If you lack trading experience or knowledge, then captial.com is the best option. On the downside, fees and commissions tend to be slightly higher than on other platforms.

RoboForex

The next potential alternative you could consider is RoboForex. What makes this broker unique is it its large variety of tradable assets and the laser-fast order execution. They offer seven asset classes and more than 12,000 markets to trade. Roboforex is registered in Belize, and regulated by the CySEC, FCA, ASIC, and FSA. According to their website, more than 900,000 customers are registered on their site. Don’t forget to read our full review on Roboforex before you test it out.

XTB

Lastly, we must remember XTB as another alternative, best if you are looking for a broker which has been on the market for close to twenty years now. The company has offices in more than 13 countries, including UK, Germany, France, and Chile. This makes XTB one of the safest brokers in the world, so you can’t go wrong with them.

Review conclusion: Is Expert Option legit or a scam? – We think it is a reliable platform

Expert Option is a regulated and legit broker. The broker offers over 100 assets to trade on and has a custom-developed platform. The platform is available to use on any device and ables you to trade whenever and where you can with its mobile trading app. The company values transparency to its customers as well as the trust of its clients. There are no hidden fees, and the minimum deposit to trade in a real account is $50. This broker offers lightning-fast trading execution and is always ready to help and assist you with your trading journey. We can say that this broker is a trustworthy and reliable broker.

Advantages:

• User-friendly yet powerful platforms
• Custom-developed platform
• The platform can be used on any device
• 24/7 Customer Support
• Offers lightning-fast trading execution
• Offers free educational materials
• Offers transparent trading experience
• Offers over 100 assets
• More than 90% yield is available
• Secure and Regulated
• The minimum deposit is $50, and you can use a free demo account

(Risk warning: Your capital can be at risk)

FAQ – The most asked questions about Expert Option:

See other articles about online brokers:

Last Updated on June 8, 2023 by Res Marty