Is ExpertOption a scam? Or a reliable broker? Trader Reviews, comments

Is ExpertOption a scam? Or a reliable broker? Trader Reviews, comments
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The platform is in great demand among traders. The site has 42 million accounts, and the mobile app has been downloaded more than 10 million times on Android devices alone. What conditions attract traders and is it worth trading on the platform – further in the article.

Broker history

  • 2014 – the beginning of the work of the Expert Option binary broker. The company is registered in the offshore state of Saint Vincent and the Grenadines.
  • 2017 – the platform was recognized as the best at the China Forex Expo. This is one of the most significant events in China dedicated to Forex, Binary Options, CFDs.

Licenses and regulation

In 2015–2016 the broker Expertoption was certified by the Russian organization CROFR. In 2020, work continues without a license. The dealer did not renew cooperation with the regulator for unknown reasons.

Trading conditions and tariffs

The minimum deposit is $ 10. Other important conditions:

  • rate – from $ 1;
  • yield – up to 95%;
  • instruments – currency and cryptocurrency pairs, shares of American companies, commodities;
  • expiration – 1-60 minutes.

Types of options

Expert Option binary options broker offers one type of contracts – High / Low . Its essence is to determine whether the price will rise or fall after the conclusion of the transaction.

Account types

Account comparison:

Account type Min. deposit Increased profitability Max. amount of one transaction Max. number of simultaneously opened deals
Micro $ 10 Not $ 10 ten
Basic $ 50 Not $ 25 ten
Silver $ 500 Not $ 250 15
Gold $ 2500 + 2% $ 1000 thirty
Platinum $ 5000 + 4% $ 2000 With no restrictions
Exclusive By invitation only + 6% $ 3000 With no restrictions

Holders of the three senior accounts are given priority when processing withdrawal requests.

Expertoption Official Website

The site has been translated into 15 languages. The payment policy, terms of the bonus program and user agreement are published in English.

 

 

Expertoption’s official website describes in detail the trading conditions and trader’s work opportunities. Also, educational articles, descriptions of strategies and other important aspects of work have been published.

A speculator can open a virtual account in one click without registration. It is enough to click the “Free Demo” button on the main page.

To create an account for live trading, you must provide your email and password. Authorization via Facebook or Google is also available.

Is ExpertOption a scam? Or a reliable broker? Trader Reviews, comments

Bonuses

The broker charges 20-50% when replenishing the account: the amount of remuneration depends on the amount of the deposit. When depositing from $ 2500, payments are fixed – $ 1250. The bonus is not available for transactions up to $ 30. New customers are periodically available a welcome bonus 100%.

Prize money cannot be withdrawn, but you can profit from it. In this case, the funds accrued by the broker are used if the trader loses his investment.

The bonus is canceled at the time of the withdrawal request or if the user does not trade within 30 days after the deposit is made.

Demo account

A $ 10,000 virtual training account is provided without registration. In this case, the history of transactions is saved even after the browser is closed. You can track the effectiveness of trading on the platform for some time, and then decide whether to provide personal data to create a real account.

Demo mode does not differ in functionality from trading for money.

 

Platform

Social radar is the main feature of the Expertoption broker terminal. It shows how many traders are trading now, in which direction and how much they open deals. This information helps to understand the mood of the crowd.

Is ExpertOption a scam? Or a reliable broker? Trader Reviews, comments

Graph . There are four types of quotes display on the platform: area, line, bars, Japanese candles. Timeframes are 5-60 seconds. That is, it is impossible to assess medium- and long-term trends in the web terminal.

Ray, horizontal and vertical lines are available for graphical analysis. It makes no sense to add more instruments, because they are ineffective on minute timeframes.

The disadvantage of graphics is scalability. By default, only 10-12 candles are visible on the screen. During trading, you have to zoom out, it gets lost, which is why 2-3 bars are placed in the field of view. This problem prevents technical analysis.

Computer application . If it is not very convenient for a trader to trade in a browser, then he can download the program on a PC running Windows or MacOS. Installation files are downloaded from the company’s website.

 

 

Available indicators

There are eight indicators on the platform. Each tool is fully customizable: from line colors to technical parameters.

Quotes

Binary options broker Expertoption works with several providers of liquidity, but with which ones it is a secret.

Trading instruments

Available assets fall into four categories:

  • currencies – more than 20 pairs, including OTC for trading on weekends;
  • cryptocurrencies – 16 instruments, including exotic ones, for example, BTC / THB (bitcoin to Thai baht);
  • shares – 21 securities of American companies;
  • commodities – gold, silver, platinum, Brent crude.

The maximum expiration period depends on the selected asset. For cryptocurrencies, options are available for only 60 seconds. For currency pairs and commodities – from 1 to 5 minutes. For shares – up to an hour, but not for all. For example, when trading Apple, you will not be able to enter into transactions longer than three minutes.

Mobile app

Logging into the Expertoption trading platform is also available through the mobile version for Android or iOS.

The functions of the application are almost as good as a website or a computer program. A platform with the same parameters, capabilities, and graphics scalability issues. Live chat with support works. But there is no training section.

Is ExpertOption a scam? Or a reliable broker? Trader Reviews, comments

Training and analytics

Training . The Expert Option binary options website contains articles on various topics:

  • “Trading Strategies” – an overview of simple and not always effective systems based on the use of a single instrument or candlestick pattern.
  • “Technical Analysis” – a guide to working with indicators, as well as with support and resistance lines.
  • “Graphical Analysis” – about candlestick patterns, rules for working with Fibonacci levels and Elliott waves.
  • “Fundamental Analysis” – a description of important macroeconomic news and the rules for working with them.
  • “Psychology of Trading” – articles that will help you understand the importance of strategy, the problems of emotionality and passion.

After authorization, access to the manual for working with the social radar, the rules for replenishing the account and other aspects of interaction with the broker opens. All training material is intended for beginners.

Analytics. The company publishes a video with asset prices and important news daily from Monday to Friday. It’s difficult to call analytics. There is no reasoning why the quotes rose or fell. There is no explanation of what the selected news of the day will give the trader. But the material will allow you to keep abreast of the main changes in the foreign exchange market.

 

Deposit and withdrawal

Input is possible by credit card, electronic and cryptocurrency wallets. At the same time, not only standard cryptocurrencies (like Bitcoin and Ethereum) are accepted. In addition to them, the broker’s platform also supports little-known coins: FunFair, Populos, Power Ledger.

No commissions are charged for transactions.

Withdrawal conditions:

  • processing of an application for withdrawal takes up to two days;
  • the transaction is carried out to the details from which the deposit was made;
  • the transfer is subject to a commission if the trader has not opened any contracts before placing the order;
  • when the account is blocked for violation of the rules, the refund is issued at the discretion of the company.

Broker complaints

Traders criticize the mobile app. The main problem is the weak scalability of the quotes window, which makes it impossible to analyze the chart.

Technical support

Available ways to contact support:

  • online chat;
  • telephone;
  • email;
  • creating a ticket on the site.

The easiest and fastest way to communicate is online chat. Consultants answer around the clock within one to two minutes.

 

Frequently asked Questions

🎁 What bonuses are available to new customers?
After registering on the official Expertoption website, a trader can receive a 100% bonus on the first deposit. Limited time offer.
What data do I need to provide to register a demo account?
A virtual account on the Expert Option platform is provided without registration.
💬 Is there a support chat on the broker’s website?
Yes, the chat works around the clock. Average consultant response time – 1-3 minutes
💵 What is the minimum deposit?
$ 10
🙋‍♀️ How to get verified?
To pass verification on the Expert Option broker’s website, you must send a photo of documents confirming your identity and place of residence. Verification request comes to email.
📊 What is Social Radar?
Social Radar shows traders’ deals: their volume and direction. The function allows you to copy transactions and understand the mood of platform users.

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