Expert Option is an online trading broker that offers digital options. With a user-friendly platform and trading interface, Expert Option claims to be among the best trading platforms for users around the globe. However, there is still a need to solve the puzzle of whether it is a good choice for you to trade on.
In this Expert Option review, we will run through all the key features concerning this broker, from its trading platform to its regulations, account types, and fees. At the end of this review, we will let you decide whether Expert Option is the ideal choice for you to take when choosing a broker.
About Expert Option
Expert Option is a binary market broker that provides trading services to users worldwide. It specializes in services such as binary options trading.
Established in 2014, Expert Option has risen to become one of the most popular brokers on the market, with a massive user base of 70+ million users worldwide. The company’s services currently span 48 countries, with an impressive close of 30 million deals each month.
Expert Option provides an intuitive user experience, and is available on all devices, from Android to iOS devices, Windows and MacBook. Users can also choose to access the platform via its web terminal or through the mobile app.
Trading on Expert Option is also swift and requires zero costs for trading fees according to the platform. Users have access to 100+ assets, ranging from forex pairs to cryptocurrencies, stocks, and binary options with a 95% payout possibility. Users can also begin trading with as little as $1, and enjoy trading benefits based on their account type.
While it is common for brokers to integrate their platforms using MetaTrader 4 or MetaTrader 5, Expert Option decided to customize its trading system and make it fully configurable to suit the needs of its users.
Additionally, the platform offers a copy trading platform where new users can adopt the trades of others on the market to maximize profit. It also provides a demo trading account for users to practice with without having to lose real money. The demo account comes with $10,000 worth of virtual funds to practice with, until users are ready to enter the real markets.
Expert Option customer support is also reliable, responsive, and available 24/7. It’s also great that users have access to educational resources that enlighten them, no matter their level of trade.
Pros and Cons
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ Expert Option is suitable for both beginners and advanced traders | ❌ Offers a low range of trading assets compared to other brokers |
| ✅ Multiple payment methods | ❌ Regulatory concerns |
| ✅ Provides a good number of educational materials for users to learn from | ❌ Not available in many top trading countries like the USA, EU, and Australia |
| ✅ Offers Payouts of up to 95% | |
| ✅ Minimum deposit fee of $10 | |
| ✅ Minimum trading fee of $1 | |
| ✅ Zero trading, commission, and withdrawal fees |
Licenses and Restrictions
One of the most important factors that any intending user of Expert Option needs to consider is its regulation. Expert Option is currently licensed by the Financial Services Authority of St. Vincent and the Grenadines (SVGFSA). They are also certified by the Financial Market Relations Regulations Center based in Russia. They also have licenses from the Vanuatu Financial Service Commission (VFSA). Although these licenses are verified, the bodies that regulate them are not altogether well-known, which has been a major drawback for many potential users of Expert Option. The bodies regulating a broker must be well-recognized for it to be fully trusted by the public. In this case, Expert Option lacks any real regulatory control.
Even with the current regulatory status for Expert Option, it has still been regarded as a trusted broker, winning the support of its users worldwide. While the broker has a massive user base, it is restricted to residents of certain countries. Some of the restricted countries for Expert Option’s services are, to mention a few:
- US
- Australia
- Austria
- Bulgaria
- Belgium
- France
- UK
- Ukraine
- North Korea
- Cyprus
- Iran
You can check out the rest of the restrictions on the official website. If your country of residence is among the delisted countries, then you will be unable to open an account with Expert Option.
Expert Option Tradable Instruments
Expert Option offers a variety of tradable instruments for its users. You can trade several different instruments, which include:
- Forex pairs such as EUR/USD, AUD/USD, EUR/GBP, and GBP/USD
- Stocks such as Facebook(META), Alibaba, Google, Amazon, Apple, and Microsoft.
- Cryptocurrencies like Bitcoin, Ethereum, and Ripple.
- Commodities such as Gold, Brent Oil, and Silver.
These instruments provide traders with the opportunity to diversify their trading strategies and take advantage of different market conditions.
Demo Trading
Expert Option provides users with a demo trading platform where they can access charts, hone their skills, and master the trading interface of the platform before committing actual funds to trade. It does not matter whether the user is an experienced trader or not, the demo account allows you to get familiar with the platform until you are ready to start trading actual money.
For every user, the demo account comes with $10,000 of virtual tradable funds, which is renewable if lost in a trade. All you need to do to access a demo account is head over to the platform, hit the ‘try demo free’ icon, and begin practice. Anyone can access the demo account, whether you have opened an account on Expert Option or not.
Trading Platform
Expert Option does not make use of the traditional MetaTrader 4 or MetaTrader 5 like many other options brokers. Instead, the company has optimized a trading platform that is built to tend to the unique tastes of traders on the platform. Unlike traditional brokers who make use of the MT4 or MT5 trading platform, Expert Option has devised a trading system of its own, making it fully configurable to meet the unique tastes of its various users.
Expert Option’s trading platform is easy to use and comes with a good number of analysis tools to pick from. These tools include four chart types, eight indicators, and multiple trend lines. This helps get traders comfortable while monitoring signals and conducting thorough analysis.
Users can access the trading platform via the web terminal or the mobile apps. Trades can be taken with as little as $1, and a payout percentage of up to 95%. Trades are also free and attract zero costs.
The platform received the award of best trading platform at the China Trading Expo, Shenzhen, in May 2017, making it a reliable platform for trading 100+ assets. The trading platform is available for round-the-clock trading, even on weekends. It also features fast order executions and accurate quotes.
Live Accounts
Another unique feature that Expert Option brings to the table is access to multiple live accounts.
Expert Option provides six different and unique account types for users to choose from, each having its benefits. The live account can be selected after the registration process is complete, depending on how much the user deposits. 
The available live accounts on Expert Option include:
- Micro – allows a minimum deposit of $10.
- Basic – a step up from the micro account. This account allows a minimum of $50 deposit plus 24/7 trading, access to educational materials, and loads of other benefits.
- Silver – The silver account is the most popular of the accounts, as users love to start with it. This account comes with a $500 minimum deposit, daily market reviews, and free consultation.
- Gold – Smart investments start with a gold account, a minimum deposit of $2500, along with every other feature from the Silver account.
- Platinum – Expert Option offers the best expertise and exclusive account management for users who invest in a platinum account. It also comes with access to an unlimited number of open deals at the same time and a minimum deposit amount of $5000.
- Exclusive – The exclusive account is by invitation only and would require users to ask their account manager for more info.
Expert Option Mobile App
The Expert Option mobile app is a fully configured app that provides the full services found on the web terminal. Expert Option has made it easy for users to trade. All trades can be made through a few clicks, and on the go.
Here are some of the key features of the app:
User-Friendly Interface:
- The app is designed with a user-friendly interface, making it accessible for both novice and experienced traders.
Demo Account:
- Users can instantly enter a demo account without registration, funded with $10,000 in virtual funds to practice trading in a risk-free environment.
Copy Trading:
- With the mobile app, users can learn from the trades of VIP traders and implement them to make a profit. The copy trading platform is fully functional on the mobile application.
Trading Assets:
- The app offers access to over 100 popular assets, including stocks, indices, and cryptocurrencies.
Payment Options:
- It supports convenient payments with VISA or MasterCard, and all transactions are securely processed. Additionally, over 200 global and local payment solutions are supported, such as Skrill and Neteller.
Minimum Investment:
- The minimum deposit to start trading is $10, and users can open trades with as little as $1.
No Trading Commissions:
- ExpertOption charges $0 to execute clients’ trades and offers free deposits and withdrawals.
Availability:
- The app is available in 48 countries and provides the opportunity to join a growing trading community.
Device Compatibility:
- The app is available for download on all Android and iOS devices. It can be gotten on the Google Play store, or the Apple Store, or directly from the web platform.
Additional Features
Expert Option provides additional features from which users can benefit. This ranges from Educational resources to bonuses and a copy trading platform.
Here is a detailed breakdown:
Educational Resources
Expert Option provides a comprehensive educational section on their platform to help traders enhance their trading knowledge and skills. Here’s an overview of the educational features available:
Glossary and Basics:
- A detailed glossary of trading terms is available to help beginners familiarize themselves with common jargon.
Technical Analysis:
- Resources on technical analysis are provided, including how to read charts and use various indicators.
Graphical Analysis:
- The educational content on graphical analysis teaches traders how to interpret and use graphical tools like trend lines and patterns.
Fundamental Analysis:
- The platform offers insights into fundamental analysis, which involves evaluating assets based on external events and financial statements.
Psychology of Trading:
- ExpertOption emphasizes the importance of understanding the psychological aspects of trading and how emotions can affect decision-making.
Trading Strategies:
- Various trading strategies are discussed, allowing traders to learn and apply different approaches to the market.
Webinars and Tutorials:
- The platform hosts webinars and video tutorials that cover a wide range of topics, from platform features to advanced trading techniques.
Educational Articles:
- Traders can access articles directly on the platform, providing insights and tips for successful trading.
These educational resources are designed to be accessible to traders of all levels, from beginners to more experienced individuals. By taking advantage of these features, traders can improve their trading skills and better understand the markets they are engaging with.
Bonuses and Promotions
ExpertOption offers a variety of bonuses and promotions for both new and existing clients. Here’s a summary of what they provide:
For New Clients:
- First-Hour Bonus: New clients can receive a 100% bonus on their first deposit if made within the first hour of registration. For example, a $30 deposit will receive another $30, and a $250 deposit will receive another $250. The maximum bonus for a new client is $500.
For Existing Clients:
- Top-Up Bonuses: Existing clients can receive a 20% bonus for deposits of $30, $50, or $100. For deposits of $250 and $1000, a 30% bonus is added. The maximum bonus for existing clients is 50%, provided for top-ups of $2500 or more.
Promo Codes:
- ExpertOption occasionally provides promo codes that can be used for additional benefits on deposits.
Copy Trading
ExpertOption’s copy trading feature allows traders to follow the decisions of other successful traders on the platform. With the copy trading platform, users can:
- Browse through a list of top traders and select one whose strategy aligns with their trading goals.
- Set their account to automatically copy the trades of a selected trader.
- Learn from their signals and trading techniques, and use them to get better on an independent level.
- Control investment amounts and can set limits on how much to invest in copying a trader.
Copy trading can be beneficial for new traders who want to learn from experienced ones, especially if they are having a hard time starting on their own.
Deposit and Withdrawals
Depositing and withdrawing funds on ExpertOption is designed to be a straightforward process. Here’s an overview of how it works:
Deposits:
- To deposit funds, you can use various methods such as Visa and Master cards, e-wallets like Skrill, Neteller, and Maestro, Binance Pay, and bank transfers.
- The minimum deposit amount is set at $10, which allows traders to start small and increase their investment as they gain confidence.
Withdrawals:
- Withdrawals can be made through the same methods used for deposits, ensuring a seamless transaction process.
- The minimum withdrawal amount is also $10, making it convenient for traders to access their profits.
- ExpertOption claims to process withdrawals quickly, with most transactions being completed within a few business days.
It’s important to note that while ExpertOption does not charge fees for deposits or withdrawals, payment service providers might apply their charges.
Expert Option Security
ExpertOption takes the security of its client’s funds and personal information very seriously. The platform employs state-of-the-art encryption technology to safeguard clients’ personal and financial details. This commitment to security is monitored by the oversight of agencies like Visa and MasterCard, ensuring that all user data is protected using the strongest cryptographic algorithms available. Additionally, Expert Option requires a KYC verification on the deposit of funds, to ensure that there is no form of money laundering happening on the platform.
Customer Support
Expert Option provides 24/7 customer support that can be reached through live chat(available in multiple languages), email, and phone support.
Bottom line
Expert Option provides some highly commendable services to its customers around the world. The information provided proves that the broker is trusted by its large user community. It also has a Trustpilot rating of 3.9*, a very fair score to consider for a broker.
However, you need to confirm first if this broker is available to traders in your place of residence. If it isn’t, then you can check out other brokers such as Deriv, Pocket Option, and Quotex.
FAQs
How do I verify my account, and what documents are needed?
To verify your account, you’ll need to provide a color photo of your valid primary identity document (passport or national ID card) after making a deposit. The document should contain a clear photo, full name, date and place of birth, expiration date, and country of issue.
What is the minimum deposit and withdrawal amount?
The minimum deposit and withdrawal amount is $10 or an equivalent amount in your local currency.
Can I earn without making a deposit?
The only way to earn without making a deposit is through the Referral Program, where you can introduce new clients using your referral code and receive real funds as rewards.
Is Expert Option available in the US?
No, Expert Option is not available to US traders. You can check the list of restricted countries on the official page.
How much can I earn on the platform?
The amount you can earn depends on various factors, including your trading strategy, market conditions, and risk management. Payout percentage can range up to 95% on the platform.
