ExpertOption Review 2020 – Is this broker Scam or Legit See Expert Reviews!

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ExpertOption Review

ExpertOption is a binary option trading platform that offers over 100 different financial assets to trade including currencies, stocks, commodities, and cryptocurrencies. Located in Port Vila, Vanuatu, ExpertOption is regulated by the Vanuatu Financial Services Commission with license number 15014.

This broker has been around since 2020 and has over 13 million accounts opened since that time. With over 100 account managers, ExpertOption is one of the most popular and well known ​binary options platforms available.

But the important question is can ExpertOption be trusted? Are they a reputable company or just another scam broker?

In this Expert Option review, I’ll cover everything you need to know about this broker.

​​Payouts:

Number of Assets:

​Regulation:

​​​​Company Name:

Web, Android, iPhone, Windows, MacOS

​Stocks, Commodities, Cryptocurrencies, & Forex

​Credit Cards, Debit Cards, Cryptocurrency, WebMoney, Neteller, Skrill, QIWI, Fasapay, and More.

Countries Not Accepted:

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​United States, Canada, Switzerland, New Zealand, Australia, Israel, European Economic Area, Japan, Sudan, and Puerto Rico

Table of Contents

Trading Platform

​Unlike other brokers that use turnkey ​platforms such as TechFinancials or SpotOption, ExpertOption developed its own custom ​platform to cater to the needs of their clients. Lightning fast execution, accurate price feeds, and weekend trading are all advantages of the ExpertOption platform.

Once inside the platform, the biggest focus will be the main graph in the middle, which shows the prices of your chosen asset in real-time. You can hover your mouse at any point in the graph to see the previous price at any point.

At the top-left corner of the screen, there is a drop-down menu where you can select an asset to view. You can search for an asset by name or browse by category such as Currencies, Crypto, Stocks, or Commodities. Once you select a financial instrument, you can choose between 1-5 minute expiry times.

A very useful feature of ​Expert Option ​is the ability to adjust your chart layouts. For example, you can split the chart layout so you can view two different markets at the same time.

ExpertOption has 8 different indicators that you can use including Moving Averages, RSI, MACDs, Bollinger Bands, Parabolic SAR, Alligator, Fractal, and Awesome Oscillator. Expert Option also has 4 different chart types you can choose from including Area, Line, Bars, and Candles.

Overall, ExpertOption has an excellent trading ​software that is easy enough for beginners while also offering enough features to please even the most experienced traders.

Assets

Expert Option offers a wide range of assets to trade including stocks, forex, commodities, and cryptocurrency.

Currency Pairs – ExpertOption has all the major ones including EUR/USD, AUD/CAD, EUR/GBP, USD/CHF, and USD/JPY. This broker even offers cryptocurrency pairs such as BTC/LTC.

Stocks – ExpertOption ​has plenty of stocks to trade including Apple, Google, Alibaba, Facebook, Tesla, Microsoft, Netflix, and many more.

Cryptocurrency – This broker allows you to trade most major crypto assets such as Bitcoin, Litecoin, Ethereum, Dash, Monero, Zcash, Riipple, and Tether.

Commodities – Currently, the only commodities that you can trade with ExpertOption is Gold and Silver.

​ExpertOption Account Types

​Expert Option offers ​six types of ​​accounts. ​Here’s an overview of each one.

Micro

The micro account offered by ExpertOption has a minimum deposit ​of just $10. However, the maximum trade ​is just $10 and you can only have 10 simultaneous trades at any given time. ​You will get access to educational materials, but ​not ​the daily market reviews ​or financial research.

Basic

The Expert Option basic account has a minimum ​investment of $50​ and a maximum trade limit of $25. ​You are only allowed 10 simultaneous trades at any time and you do get access to the education materials. If you start with a basic membership, you can always upgrade at a later time.

Silver

The ExpertOption silver account requires a $500 ​initial investment. In addition to the educational resources, you’ll also get access to the daily market reviews and financial research. ​You are allowed 15 trades at a time and a maximum trade limit of $250. ​

A gold account has a minimum deposit ​of $2,500. ​Gold comes with everything that Basic and Silver comes with, but with some additional perks. Gold members get priority withdrawal processing. You’ll also enjoy a 2% increase in profit​. The minimum deal amount for a gold member is $​1,000 and you can have up to 30 active trades at any time.

Platinum

​VIP traders are best suited for the Platinum account type at Expert Option. An initial deposit of $5,000 is required. You’ll enjoy everything that the Gold ​level comes with, but you’ll have no limitations in the number of trades you can execute at the same time. In addition, the maximum trade​ increases from $1,000 to $2,000 and your profit per trade increases by 4%.

Exclusive

It is not available for everyone, only those who are invited to have this account type​. Customers having Exclusive account type can enjoy increased profitability ratio of up to 6%, a ​personal account manager, and maximum deal of $5000. ​

​Demo Account

ExpertOption offers their clients a free demo account ​with $10,000 in virtual funds to practice with. This is a great way to sharpen your skills without risking real money. Unlike other binary option brokers, you don’t have to register ​in order to access the ​platform. You don’t have to give them an email address or any personal information.

With the​ ExpertOption demo, you can get a great feel for their trading ​interface to see if it’s what you’re looking for. You can practice executing trades, sharpen your trading strategies, and get a feel for how easy the ExpertOption ​software is to use.

​ExpertOption Apps

The ExpertOption platform is accessible via mobile and desktop ​apps. Their mobile app is available in iOS and Android and can be downloaded at the Google Play Store or Apple Store. The ​desktop app is compatible with Windows or Mac.

Alternatively, you can access the ExpertOption platform on the web without using any app. There is no software download required in order to ​start trading.

ExpertOption Bonus Offers & Promotions

Just recently, ExpertOption has began to offer 100% ​bonuses for first-time depositors. Most brokers offer these types of bonuses as incentives to attract new customers, and Expert Option is no different.

An important thing to note is that accepting a bonus from ExpertOption doesn’t affect your ability to withdraw funds from your account like it does with other brokers. If you choose to accept their bonus offer, you are eligible to withdraw your money at any time.

There are bonuses available for existing clients as well, but it’s less than the 100% ​match that first-time clients get.

​Accepted Countries and Languages​

ExpertOption does ​NOT accept clients from United States, Canada, European Economic Area, Switzerland, New Zealand, Israel, Singapore, Puerto Rico, North Korea, Yemen, Sudan, Bangladesh, Vanuatu, and Australia.

ExpertOption does accept traders from India, Philippines, South Africa, Nigeria, Kenya, Indonesia, Malaysia, Pakistan, Ghana, Zimbabwe, Bulgaria, Sri Lanka, Vietnam, Egypt, United Aram Emirates, Turkey, Brazil, Russia, and more. Most ​regions from Asia, Africa, and South America are accepted.

For your convenience, the Expert Option website and platform are available in 15 different languages including English, Chinese, Hindi, Korean, Thai, Vietnamese, Spanish, Arabic, Turkish, Bahasa (Malaysian), Bahasa (Indonesian), Portuguese, Tagalog, and Polish.

Related Content:

​Special Features

​Social Trading

Expert Option offers social trading, which is a way to trade ​with your friends or see what other successful traders are ​investing in. You can see which assets people are trading, the market movements they’re predicting, and how much profit they are making.

Technical ​Analysis Tools

ExpertOption has a variety of technical analysis tools for you to use including four different chart types, eight different indicators, as well as trend lines.

Training and Education

​This broker has a variety of online educational resources to help its traders learn the basic of ​digital options. These resources include video tutorials, online webinars, daily market analysis, and more.

​Deposits​

ExpertOption has a minimum deposit of just $10 on their Micro account. This account level is perfect for beginners that are just getting their feet wet in the world of binary option trading. Here are the ​lowest deposit amounts for the other account types:

To make a deposit with ExpertOption, follow these steps:

  1. Go to the finances tab
  2. Click the deposits tab
  3. Choose your ​payment method
  4. Select your currency
  5. Enter the amount you’d like to ​invest
  6. Click submit

ExpertOption offers many different payment methods including all major credit cards (including Visa and Mastercard), cryptocurrency, and most major e-wallets including UnionPay, WebMoney, Skrill, Neteller, Perfect Money, Yandex Money, Fasapay, and QIWI.

​Withdrawals

​To withdraw money, ExpertOption offers the same payment methods that are used for deposits such as credit cards, E-Wallets, cryptocurrency, etc. In order to withdraw funds from your account, it must be done using the same payment method as your ​opened your account with until you have withdrawn your initial ​investment amount. After that, you can choose a different ​payment method for the remainder of your funds if you choose to.

The minimum withdrawal amount for ExpertOption is $10 USD. ​Requests are typically processed in just 2 business days. As with most binary brokers, Expert Option does require you to provide identity verification before ​you can request money. This is a safeguard to prevent fraudulent activity on your account.

​This broker does not charge commissions or fees​ for processing payments. ​

Regulation & Security

Expert Option holds a certification concerning the compliance with all applicable laws in place by FMRC. It is fully regulated by Vanuatu Financial Services Commission – VFSC. Client’s funds are held with investment grade-A banks in segregated accounts. To protect the sensitive information of all stakeholders, the broker has HTTPS web protocols and SSL encryption in place.

Customer Support

​Here is their company contact information:

ExpertOption LTD.
Suite 305
Griffith Corporate Centre
Beachmont
P.O. Box 1510
Kingstown
Saint Vincent and the Grenadines

Is ExpertOption a Scam?

Expert Option is an FMRC authorized broker that holds a license from one of the world’s reputable regulatory body VFSC. It is definitely not a scam broker. ExpertOption allows everyone to start binary options trading by offering low-deposit accounts as well as high-class premium accounts. ​This company provides ​excellent customer support and offers a complete range of trading tools which are deemed necessary for purposeful trading.

The broker is also well known for its user-friendly trading ​software. The platform equips traders to take advantage of advanced analytical tools to make informed decisions. The security of clients’ funds and fast withdrawal procedure makes ExpertOption a prime choice of ​digital options traders.

Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.

Welcome To Our Site!

My name is Robert Wolfe and I’m an online trader with over 7 years of experience trading financial instruments such as binary options, CFDs, forex, and stocks. I created this website to share my knowledge of the industry so you can avoid the same mistakes I’ve made.

ExpertOption Review 2020 – Is this broker Scam or Legit? See Expert Reviews!

This is our ExpertOption review based on our trading experience with this broker. Expert Option has gained a wide reputation in binary options since inception. However i did a background check to know if all was fine before going ahead, i opened a demo account first to try out the platform before doling out my money to start trading. Now very important, before trying out a broker you have to check whether they are regulated, this would enable you to know where to channel your reports and get a redress in case things go awry, this is very pertinent because there are many scam brokers hovering around to snatch off your hard earned money. ExpertOption was established in 2020, there address is at Saint Vincent and the Grenadines, 1510, Kingstown, Suite 305, Griffith Corporate Centre while being represented in the UK by Vested LP at United Kingdom, Scotland, EH3 6SW, Edinburgh, 5 St. Vincent Street, Office Suite 2. Registration number: SL21576.

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ExpertOption License and Regulation:

ExpertOption is regulated by the FMRRC(Financial Market Relations Regulation Center) with a licence code Certificate 0395 AA Vv0084 . In the FMRRC website are also listed the rules of filing a claim.

Platform

What i like about Expert Option platform is the user-friendability. The platform is easy to use and is loaded with good analytics to make trading easy. You could carry out multiple trades on the platform and they offer a huge list of assets to trade on ranging from currency pairs,commodities,stock and indices.The minimum deal you can trade is $1, also making it one of the best in the industry. They also offer good trading signals with terms like Strong Buy, Buy, Neutral, Strong Sell, Sell this to help you trade profitably, but from my experience don’t always trust the signals, however they could be right in most times so also do your own analysis to get the best results.They offer a free demo account with a virtual amount of $1000 to try with. their mobile trading platform is also available in IOS, Android,Windows

ExpertOptions Payment and Withdrawal method

There is a good list of payment and withdrawal method accepted by this broker, they are :Visa,Mastercard,Webmoney,Skrill,Neteller,Unionpay,Yandex money,Maestro,Qiwi wallet. The listed are the ExpertOption withdrawal methods as well as deposit methods, The minimum deposit with this broker is $10 which makes it one of the lowest in the industry and offers you availability to manage risk. Withdrawal requests are processed in 2 working days but it could be expedited based on your account type.

Account types

ExpertOption offers four(4) types of membership based on your minimum deposit, they are: (1) Mini: It could be open with $50, this type of account comes with a personal manager and bonuses of up to 50%, there is also weekly delivery of economic newsletter. this might be good for newbies in trading. If you want to get more bonuses and packages you can step up to the other plans (2) Silver: This comes with additional benefits like getting weekly economic analytics and bonuses of up to 80%, it could be opened with a minimum of $250 (3) Gold : Additional benefits are increased asset profitability, bonuses up to 100%, daily economic analytics and priority money withdrawal (4) VIP : In addition to what is obtainable in the Gold you also get up to 125% and individual trading analysis. The part i love most is that all account types have deal insurance , you can hardly find this in the industry, so this is an advantage for ExpertOptions traders.

Customer service:

They offer a strong customer support, you could reach them through live chats, phone calls or send an email to them. They respond immediately and are always ready to offer help.

Feel free to drop your trading experience with this broker in our comment box. I hope you find this Expert Option review helpful.

ExpertOption

Broker Name: ExpertOption
Platform: ExpertOption
Founded: 2020
Bonus: 100% Bonus
Return/Refund: 89-95% / 0%
No. Of Assets: 100+
Regulated: FMRRC
Demo Account: Yes
Minimum Deposit: 50
US Traders: Not Accepted

ExpertOption Review

ExpertOption is a well-known binary options broker founded in 2020 and is operated by EXPERTOPTION LTD. ExpertOption is certified with FMRRC,Financial Market Relations Regulation Center, a non-governmental voluntary oversight agency. Their certificate number is 0395 AA Vv0113. They claim to be regulated by VFSC, Vanuatu Financial Services Commission but we couldn’t verify the claim.

Editor’s Note: Why does ExpertOption Suck in 50 Words?

What sucks is that bonuses lock your funds and you can’t withdraw or cancel the bonus once you have started trading. But according to their live chat, they don’t offer bonuses anymore, so I don’t really know what to make of all this (see the Bonus section below). Also, we can’t confirm how strong and effective an FMRRC regulation really is.

Why ExpertOption DOESN’T Suck in 50 Words?

Two things I immediately see and like 1. You can start with a 10,000$ demo account without signing up which is a decent enough amount for practicing and feeling out the platform. 2. They are very transparent regarding the countries they can’t allow due to regulations.

Is ExpertOption a Scam?

ExpertOption comes off as transparent providing their certificate number and information. They are also regulated by FMRRC and claim to be regulated by VFSC (however, we couldn’t find them on the VFSC official website). FMRRC is a non-official “regulator” based in Russia. This organization is created for the purpose of regulating brokers. However, unlike with CySEC, we can’t really be sure how strict FMRRC is when it comes to monitoring brokers. And on top of that, at the time of writing, their FMRRC license is expired for about a month and we have no way of knowing if they will renew it or not.

What is good to see however is that ExpertOption does not appear to be soliciting clients where they are not licensed. In fact, we got a message popping up saying our country was not accepted.

Should I open an Account with ExpertOption

You can open an ExpertOption account with only 50$ which is a fairly low amount or start with their relatively big demo account of 10,000$. The maximum investment amounts per trade are relatively low at 25/250/1000/2000/5000 for each account type, Basic, Silver, Gold, Platinum and Exclusive respectively.

The payouts, however, are advertised to reach up to 95% but the comments we have found to tell another story. Apparently, if you are successful, the payouts will decrease by 50% or more! To confirm that this wasn’t just the case of a couple of angry customers ranting on the internet, we checked various sources and looked for more comments. Unfortunately, we couldn’t reach a clear conclusion.

The platform itself looks nice and you have access to several indicators and technical tools like horizontal lines and trend-lines. You can also turn on or off the “trader’s deals” which shows where other clients are entering their positions. You can also use 4 different kinds of charts such as candlestick charts and different time-frames. Something I found helpful was that I could split the charts into two sections so I could monitor two assets simultaneously. The unique thing about their platform is probably the “full-screen mode”, a feature I have not seen with many other brokers. The platform is also available for download but what it lacks is a good explanation on how to use it.

The company does not provide services to clients from the following countries: USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, Korea, Puerto Rico, and Sudan. The full list is mentioned under their “terms” and it pretty much includes all countries that require a local regulatory certification.

Overall, ExpertOption is a good option because they offer a free demo (no registration needed) and a very low minimum deposit of 50$. Use their demo, then deposit the minimum (if you liked the demo of course) and see how it goes from there. It doesn’t have to be a huge commitment; test them out first. The minimum investment per trade is only 1 dollar so you have good leverage with a 50 deposit.

ExpertOption is located in Saint Vincent and the Grenadines, 1510, Kingstown, Suite 305, Griffith Corporate Centre. Registration number 22863 IBC 2020. In their Terms and Conditions, they mention that payment solutions are provided by Vestede Limited, a company located at Suite 3, 2nd floor, Icom House, 1/5 Irish Town, Gibraltar, incorporation No. 116061. This company provides payment services for expertoption.com. They can be contacted at phone: +44 20 3868 3160 and email [email protected]

ExpertOption broker Complaints

We couldn’t find that many comments but it’s not strange because most EU countries are not allowed due to regulations and neither is the US and Canada. The few comments we did find from various sources, however, told the same stories: the payouts will decrease if you are making money and only increase back when you lose. Also, the bonus lock will bring the usual bonus issues so beware of that. However, a broker can change their payouts as they wish and that in itself is not really a scam bad just bad service.

ExpertOption Regulatory Announcements and Warnings

Since ExpertOption does not accept clients from most European countries it is not strange we can’t find the regular warnings and fines we usually find on other brokers.

ExpertOption Bonus

Bonus percentages depend on account type and a volume of 50 times your bonus must be reached before you can withdraw your own deposit and/or the bonus.

However, a live chat representative mentioned that Bonuses are no longer available. This is weird because they still offer bonus information in their Terms and Conditions.

Trading Bitcoin With ExpertOption

ExpertOption is another broker that is going “all in” with Bitcoin and cryptocurrencies. Their crypto basket is quite big and the trading conditions are good, on paper at least: Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Litecoin, Ripple, IOTA, Monero, Zcash, Dash and even some exotic pairs like BTC/THB (Bitcoin vs Thai Baht) or BTC/INR (Bitcoin vs Indian Rupee).

The payouts for successful trades go up to 88% and the lowest I’ve seen was 72%. This is very high for cryptocurrencies (some brokers offer 20% to 50%) that’s why I say “on paper”. It’s possible for these percentages to go down during volatile times. The expiry times for cryptos are limited to a maximum length of 5 minutes.

ExpertOption Ratings

User Friendly 18/20

The website is user-friendly and comes in 15 languages. The platform itself is great but it really needs a good explanation or tutorial. On the plus side, the education area is well-worked on with strategies, technical analysis, glossary, psychology and lots of other information.

No. of Assets and Expiry time 17/20

There are a number of OTC assets you can trade over the weekend with 89-95% payouts. The asset index is very wide and includes tons of currencies, stocks, commodities, etc. but also a lot of cryptocurrencies (outlined in the section above). However, the expiry times need some work because the longest I’ve seen was 5 minutes (maybe it’s because I used a Demo account).

Commissions, Support and Effective return 16/20

The returns are promised to reach up to 95% but you are not going to find many assets reaching that high during the trading week and people have reported that these high payouts get lowered shortly after you start profiting. A 10% fee will be deducted from your withdrawal if you have not traded on your account more than you have deposited. Live chat is available for support.

Deposit, Payment and Bonus 17/20

The minimum deposit is low, at 50$ only but bonuses are unclear. Some parts of their website state that bonuses will be awarded but live chat told me they don’t offer bonuses. It’s unclear which version is true but their T&C say that accepting bonuses means you cannot withdraw unless you have reached a trading volume of up to 50 times the bonus. The transaction methods supported are Visa, MasterCard, Maestro, Neteller, Skrill, Perfect Money, FasaPay and others. The minimum withdrawal amount is 10$ and the advertised processing time is 2 business days.

Website Extra’s 17/20

The platform can run two charts/assets at the same time and a full-screen feature is available, something we have not seen with many brokers before. ExpertOption is also launching an ICO for its own coin: EO Coin, which will power three platforms. For more info about the ICO, read the White Paper.

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