EXPERT OPTION REVIEW 2020 – SCAM OR NOT?
Sometimes the choice of a good Binary Options Broker is difficult. There are quite a lot of good and bad brokers. Nowadays Expert Option is one of the biggest companies for Binary Options and very popular. Is it a scam or a reliable broker?
In this review, I will show you what you need to know about the broker. Check out the conditions and facts for traders. Is it really worth to invest your money? – Find out.
WHAT IS EXPERT OPTION? – THE COMPANY PRESENTED
Expert Option is an international Broker for Binary Options. The company was funded in 2014 and over 9 Million accounts are opened today. Expert Option is based in Vanuatu and is there regulated by the VFSC. Security standards are very important for the broker. They show it with a good working and safe trading platform. Today more than 11.000.000 clients trust the broker.
The company got 4 main values:
- Clients: Good customer service with account managers in different languages
- Reliability: Regulated and better than other brokers
- Simplicity: Easy to use the platform
- Speed: Very fast trade execution and short-term trading
The broker provides you to invest in rising and falling markets. You can trade Forex, Stocks, Commodities, and Cryptocurrencies. It is like betting and if you make the right forecast, the broker will pay you a high profit of 80 – 95% of your investment amount. Moreover, the platform is specialized for short-term trading. The time horizon for trades is 1 – 5 minutes.
At first glance, the offers of the broker are quite large. It should be possible to trade with Expert Option on any device and any place in the world. The website is clearly structured. There are no lag or disconnects while trading the markets.
Is Expert Option regulated? – Regulation and safety for customers
Regulation is the most important point for Binary Options traders and financial investments. Especially Binary Options Brokers should be regulated. Most companies are not regulated and there is the possibility of a scam. First of all, you should look after an official regulation of a broker and then invest your money.
Expert Option is regulated by the Vanuatu Financial Service Commission with the license No 15014. This is a real financial regulation. The company has to follow strict rules for providing their service. Violations against the regulation are not allowed and will be punished. Nowadays compared to other brokers it is a big advantage of Expert Option. The funds should be safe.
- VFSC Regulation: The broker is regulated by VFSC
Trade offer and conditions for customers
The minimum investment for opening an account is 50$ and the minimum amount to bet is 1$. Expert Option offers you the best conditions for trading. The yields/returns are high as 90%+ for each asset. They provide you more than 100 different assets to trade. You can bet with Binary Options on forex, commodities, stocks, and cryptocurrencies. The time horizon for binary trades is between 60 seconds and 5 minutes. The broker is perfect for short-term trading.
Conditions for traders:
- Open your account with just 50$
- Start betting with 1$
- Very high asset profit of 90%+
- Over 100 different assets (Forex, Cryptocurrencies, Stocks, Commodities)
- Short-term Binary Options
- Different account types
For the first impressions, the broker looks very professional. The website and the menu are clearly structured and designed for beginners and advanced traders. The website is available in more than 9 languages and also the support works in different languages. The trading platform (read more below) is made for professional trading. You can trade with Expert Option on any device. Additionally, they got one of the best market data providers. There are no lags or manipulated charts from my experience.
|ASSETS:||MINIMUM DEPOSIT:||MINIMUM INVESTMENT:||SUPPORT:|
|100+ Forex, Crypto, Stocks, Commodities||50$||1$||24/7 Phone, Chat, Email|
REVIEW OF THE EXPERT OPTION TRADING PLATFORM
In the picture below you see the trading platform of Expert Option. The platform is available for your browser and app for your smartphone. You can trade with Expert Option on any device. There are a lot of functions for beginners and advanced traders. The most important feature of a trading platform is the user-friendliness and customizable options. The platform should be very flexible.
From my experience, you got a lot of different options to display the chart. Open different assets with candlesticks and some indicators. It is possible to create strategies with popular indicators like the Bollinger Bands and the RSI. The trading platform offers a trader everything he needs for successful trading.
How to use Expert Option? – Trading Tutorial
The broker offers only Binary Options for traders. It is very easy and simple to understand this financial product. You can bet on rising or falling markets at a certain time horizon. Make the right forecast and you can win a high profit in less than 1 minute. The risk is limited to you bet amount and the trade is automatically closed if the expiry time ends. For example, you have to say that the market will be higher/lower than the current price in 5 minutes.
Example – EUR/USD – 95%:
That means if you invest 100$ and make the right forecast of the price direction you get a payout of 195$. 100$ is the return of your investment and 95$ is the profit.
Especially beginners and new users can benefit from the social trading option on the left side. Just copy successful traders automatically. Also, you can read and listen to a daily analysis of Expert Option. The platform works 24/7 and also weekend trading is available. Expert Option continuously adding new financial instruments. That sounds very good for me.
Benefits of the trading platform:
- High asset profit
- Customizable and flexible platform
- Free app
- Social Trading (copy traders)
You can see that the platform is clearly structured and available in more than 10 languages. In the menu, you can choose between currencies, cryptos, stocks, and commodities. More than 100 different assets are available for Binary Options. Use more than 4 chart types, 20 indicators and technical tools to draw lines. Beginners should quickly get used to the platform.
Expert Option is one of the brokers who provide a professional service to his traders. On the left menü, you see the options “education” and “analytics”. Get direct market news on your platform. There is news about stocks, currencies, cryptos, and commodities. Every day they publish new videos with the best trading ideas. The education center is a good way to learn more about trading. Especially beginners should watch the whole video section before they start trading with real money. On the other hand, advanced traders can improve their strategies with new knowledge of the education center.
Charting and Analysis on the trading platform
Another important point of a professional trading platform is the charting and the functions for analysis. My test result is that Expert Option offers a large selection of functions. Technical Analysis is one of the most used strategies for trading Binary Options. The broker offers indicators, chart types, and drawing tools. In the following article, I will give you an overview of the possibilities to trade successfully.
Charting is difficult for beginners because the selection of tools and types is large. I will show you the best chart type and what you need to know about it. Expert Option offers 4 different chart types. The most popular chart type are candlesticks. First of all, it is hard to understand for a beginner. In addition, you can watch education videos about this type of chart.
The candlesticks are developed by professional traders in Japan. It is a better way to interpret the market moves because you can see the close, open, high and low of a certain time period. The chart type allows you to get more information better and faster to your brain.
The Binary Options Broker offers you:
- Area Chart
- Line Chart
- Bar Chart
- Candle Chart (most popular)
Indicators are free available
Indicators are used in the Technical Analysis. There are different types of them to predict the market direction. The indicator analyses the price in a certain time period. Mathematical formulas calculate signals for buy and sell in the market. You can use them as confirmation for your analysis or develop a strategy.
The broker offers you more than 10 indicators for trading. They are customizable. Just click on the indicator symbol on the platform and another menu will show up. Moreover, you can watch education videos about indicators or ask the support for help if you got any questions about it.
Technical drawing tools for Technical Analysis
Also, technical drawing tools are important for Technical Analysis. You can use horizontal lines, vertical lines and trend lines for your analysis. They are customizable and you can set the color width of the tool. Most of the time these tools are used for trading support and resistance strategies in the markets.
In conclusion, the trading platform offers all the functions a trader needs. In my opinion, it is one of the best platforms out there. Especially the structured design is comfortable to learn fast and easy about trading. Beginners and advanced traders like this platform so much because it is available for any device and there are no lags and disconnects.
Mobile Trading (App) – Expert Option works on any device
Great news – Expert Option is available for any device. The team worked hard to create professional programs and apps. Nowadays it is important to trade on mobile phones or tablets. Today as a general rule more than 50 percent of the traders use mobile trading.
The advantages are clear. Check your portfolio in every region of the world by your smartphone. In addition, you got the same functions in the mobile app as in the web-based version.
The app is available for Android and iOS user. From my experience, the app works smoothly and without any lags. Also, the app is structured like the web version and you will find the same functions in the menu.
You can open Expert Option in the browser your choice. Use Firefox, Chrome or other browsers for trading.
Expert Option offers you to download the trading platform for your computer. Experts say that the download version is much faster for trading. Always the broker recommends downloading the program for a better experience.
Details of the Expert Option Investment Platform:
|Minimum trade amount:||1$|
|Support:||24/7 phone, email, chat|
|Assets:||100+, forex, commodities, cryptocurrencies|
|Account Types:||Basic (50$), Silver (500$), Gold (2500$), Platinum (5000$), Exclusive|
Free Expert Option Demo Account for beginners
Who wants to register with Expert Option can use a free demo account. The demo account is unlimited and starts with 10.000$. Start practice Binary Options and learn more about the trading platform. You get direct access to the education center. Beginners should develop and test their own strategy with the demo account. Also, advanced traders can improve their strategy with the free demo account.
How to open your account?
How works the account opening? – It is very easy with Expert Option and takes only 5 minutes. In this review, I opened a real account. First of all, you need your email and password. After that, you can deposit some money in the account. You can start trading without verification. If you want to withdrawal, you should verify your account with the needed documents. I recommend doing this before deposit your money.
The verification is very fast and processed in a few hours. For a faster verification write the support that you uploaded your documents and filled the account form. Now you can use all functions of Expert Option with your account.
Different Account Types for more profit
There are different account types for traders. It depends on the deposit value for getting a higher rank. With a deposit of more than 500$, you will get a personal manager and professional analysis on daily basis (Silver). Starting with 2500$ you get higher asset profit and faster withdrawal (Gold). The platinum account (5000$) offers you again more asset returns. For bigger clients, there is the possibility to get an exclusive account with special conditions.
Review of the Expert Option account deposit and withdrawal
After you opened your real account you can fund the account with different payment methods. Expert Option offers more than 20 different payment methods. Sometimes the payment methods depend on your country of residence.
Use Credit or Debit Cards, Mastercard, UnionPay, Cryptocurrencies, E-Wallets (Skrill, Neteller), Yandex, Qiwi Wallet, Perfect Money and more. The offer for the transactions is a big advantage.
There are not any hidden fees for you. The account funding and withdrawal are without fees. The minimum deposit amount is 50$ and the minimum withdrawal amount is 10$. The funding can be processed directly with electronic payments. The withdrawal system works quite fast. Higher account types got the priority withdrawal. The withdrawal is processed in a few hours.
These payment methods are available:
- Credit Cards (Master/Visa)
- Neteller, Skrill
- Perfect Money
- Yandex Money
Free Expert Option Bonus for your deposit
Like some other Binary Options Brokers, Expert Option offers a deposit bonus and a no-deposit bonus. This is a great opportunity to increase your account balance. After the activation of a bonus, you can trade with more risk and more money (read the example below). According to that, a bonus is linked to special conditions every time. The bonus is like free money (gift) but you have to do a certain turnover of money while trading.
You do a deposit of 1000$ in your account balance and trade with the sensible money management of 1% per trade. That means you risk 10$ each trade of your portfolio. If you activate the 100% deposit bonus, you get additional money of 1000$. Now your account balance is 2000$. Now you can trade with 20$ per trade if you use the money management of 1%.
- Deposit bonus: Get additional money to your deposit
- No-Deposit bonus: The broker gifts money without a deposit
As mentioned before you have to fulfill some conditions. The turnover is 50x. If you get a bonus of 1000$, you have to trade the volume of 50.000$ in your account. After that, you can do a withdrawal. The bonus can be deactivated but only if you did not start trading while it is activated! Moreover, the amount of bonus depends on the deposit amount and the promotion.
Available countries on Expert Option
Expert Option is an international broker but the company does not provide its service in every country. There are some forbidden countries. On the other hand, the broker improves the service in fast-growing regions for Binary Options.
Nowadays Binary Options are very popular and the market is growing fast. Especially in the countries of Asia and Africa the financial product enjoys more popularity.
Expert Option does not provide service to traders of USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, North Korea, Puerto Rico, Sudan.
The fastest growing countries are:
Social Trading to get your profit automatically
Social and Copy Trading is available on the platform too. If you got a real account, you can copy the best traders of Expert Option. On the platform you see transparent the opened and closed deals of a trader. There is a different rank in each asset. Click on the “social button” and see the best traders. In addition, you can see the ideas and positions of other traders. It is possible to see how much traders opened a long or short trade.
Social Trading is a good way to grow your account, but in some way, it can be very risky. In my opinion, you should analyze a trader for a long time and only start with a small amount of money to copy. If a trader wins and makes a good profit for a long time, it is a good choice to copy him.
Review of the support and service of Expert Option
Expert Option offers its customers 24/7 support via phone, chat, and email. The chat support is the easiest way to contact the support. If you are logged in the platform, just click on the “Live chat” symbol and you get a direct connection. Moreover, chat support is available on the mobile platform. From my experience, the support works very fast and answers with a high level of knowledge. Use the phone number to get a direct connection in the headquarters of Expert Option.
The website is available in more than 15 different languages. In fact, support speaks this language. Expert Option always tries to increase its customer base. So they add new languages and hire new employees for support.
Another big advantage is the account manager for customers. Account manager and personal manager are available for in the silver – exclusive account. Compared to other brokers it is a comfortable service for any customers of Expert Option. You can work with them on new strategies or trading methods.
Facts about the support:
- More than 15 different languages
- Phone, Email, and Chat support
- Support 24/7
- Account Managers
- 1 to 1 service
Education for beginners and advanced traders
As a result of professional customer support, they offer extensive education material for beginners and advanced traders. You can watch videos and read articles in different languages.
How to get started?
Click on the education button to watch the “how to get started” videos. All functions of the platform are explained in detail. Learn the first steps to use the platform correctly and gain knowledge about graph tools, assets, social trading, and deposit methods. The support will help you if any questions are left.
Education is the most important point for successful and professional traders. Without good knowledge and education, you will lose your money and blow up your account. In my opinion, it is not a good idea to start trading without education. It is like gambling in the casino. With the right knowledge, you can improve your results fast. Expert Option offers a wide range of material for successful trading.
Chapters of the education:
- Technical Analysis
- Graphical Analysis
- Fundamental Analysis
- Psychology of trading
- Trading Strategies
This is not the end of education. By using a higher account type than silver you will receive daily market reviews and financial research. This is a good way to improve your results as traders. In addition account managers can help you to use the education material correctly or develop professional strategies.
|Phone, Chat, Email||24/7||+44 20 3868 3160||More than 15|
EO.Finance – Cryptocurrencies Exchange by Expert Option
As a professional broker Expert Option develops new offers for its customers. EO. Finance is the newest project by the company. It is a regulated and licensed crypto wallet and exchange. More than 40 currencies are available and it is very easy to capitalize the wallet.
In the past, most cryptocurrency exchanges did not accept new customers because the demand was too high. There were problems with withdrawals, verification, and funding. Expert Options tries to eliminate all these problems by developing a new platform for cryptocurrencies.
The platform is designed to buy and exchange very fast your fiat money into cryptocurrencies and back. Buy crypto with your card in less than 1 minute. Like the Expert Option trading platform, this app is available for any device.
Facts of EO.Finance:
- Crypto wallet
- More than 40 currencies
- Very fast registration and verification
- Just buy crypto with your card
- Available for any devices
- Prepaid card to withdrawal funds
- European license
Self-developed cryptocurrency EO Coin
In addition, the project EO Coin is a new cryptocurrency who directly work together with the exchange. You can use the coin to reduce your exchange fees into other currencies. It is a licensed and regulated project. Moreover, this project allows to speculate and get a high profit.
Support for Crypto:
- Phone: +44 208 0893 657
- Email: firstname.lastname@example.org
- Online Chat
In conclusion, this project shows that Expert Option is an innovative company who tries to hit another market with its experience and knowledge. Personally, I like the new exchange and wallet for using cryptocurrencies because it is fast, safe and easy to understand at the same time. The new currencies are highly volatile. Also, the chance of making high profit and returns is possible with this new project.
Conclusion of the review: Is Expert Option legit?
The is interesting for advanced traders and beginners. In conclusion, Expert Option is one of the best company for Binary Options. In my opinion, there is no scam for traders. The company offers a great portfolio for trading. In addition, the most important point is that the broker is official regulated. Reliability comes first at Expert Option.
In this article, I showed you the conditions and advantages of the broker. I searched for some disadvantages but they are hard to find for me. The platform is highly innovative. Expert Option always tries to improve its service (for example buy Cryptocurrencies with a bank card).
Just start with the free demo account or a small deposit amount for testing the broker. You will be surprised, how good the company is. No hidden account fees and the highest asset profit – that is what I want. Compared to other brokers Expert Options noticeably wins.
Advantages of Expert Option:
Clear presentation of the platform
Very fast trade execution
Very fast account openning
No hidden account fees