Expert Option review – Should you sign up? – Pros and cons

Rating:Assets:Minimum deposit:Return:
5 out of 5 stars (5 / 5)Binary Options$ 10Up to 90%+

You might want to hunt for a perfect binary options trading platform. Not just binary options, a trader wants the best in making money from trading. Hundreds of exchange platforms allow traders to buy and sell various assets. Expert Option is one of the online trading platforms. 

However, a trader’s mind might question whether Expert Option is a perfect online trading platform. Due to multiple scammers, it becomes challenging for a trader to trust any trading platform. In this Expert Option review, we shall find our answer.

(Risk warning: your capital can be at risk)

RegulationFMRC, VFSC
Demo accountYes
Minimum deposit$10
Minimum withdrawal$10
Payment methodsBank transfers, electronic wallets, card payments, cryptocurrency
Mobile appYes
Account typesMicro, Basic, Silver, Gold, Platinum, Exclusive 
Social tradingYes
Trading chartsYes
Technical indicatorsYes

About: What is Expert Option?

Expert Option specializes in providing binary options trading market to investors. It provides the trader access to hundreds of markets. 

Expert Option has successfully performed its operations beginning in 2014. Over time, it has gathered a client base of hundreds and thousands of traders. Now, millions of traders trade binary options on Expert Option. 

Thus, we can safely assume that Expert Option is one of the most reliable brokers in the market. 

(Risk warning: your capital can be at risk)

Expert Option regulation: Is this broker regulated?

The best factor to judge whether any broker is legit is to see if it is answerable to any regulating authority. Regulating authorities are those that govern or oversee the operations of the brokers.

If a broker does not perform operations within the regulating authority’s guidelines, they can lose their license to perform in the market. Thus, a regulating authority acts as a license for the traders to save them from gambling. 

Good to know!
Fortunately, Vanuatu Financial Services Commission and Financial Markets Relation Regulation Center (FMRC) oversee the broker’s operations. Even the companies like Visa and MasterCard have done verifications of this broker. 
Various algorithms and data security secure the payment gateway for the traders. It protects them from the scope of any fraud.

(Risk warning: your capital can be at risk)

Where is Expert Option available? – Countries:

Since Expert Option is one of the leading binary options brokers, it offers its valuable services to brokers at almost all geographical locations. However, there are several locations where you might not find the broker’s availability.

Expert Option does not serve the clients from:

  • USA
  • Canada
  • Switzerland
  • New Zealand
  • North Korea
  • Puerto Rico
  • Bangladesh
  • Yemen 
  • Indonesia
  • Sudan
  • Singapore

If you belong to a country other than the ones on the list, you can sign up with Expert Option without a second thought. The fact that millions of traders across the globe trade binary options with Expert Option signals its reliability and trustworthiness. 

(Risk warning: your capital can be at risk)

Signing up with Expert Option (account opening)

Now that you know you can rely on and trust Expert Option, you can sign up with the broker to begin trading. 

Expert Option allows you to trade binary options in different underlying markets using the following steps: 

  1. To begin, you can log on to the Expert Option website. 
  2. Choose or select the ‘sign up’ option to get started with binary options trading on Expert Option.
  3. Now, you can enter the details that the online platform needs to make you a part of their trading community. Usually, your phone number, identity proof, email address, and residence address are a few things you might need to make available to the broker. 
  4. Finally, after verifying your email and phone number, you can click on the signup button to begin trading on Expert Option.

Expert Option offers various features unmatched by other binary options trading platforms. For instance, the Expert Option demo account offers advanced features. Mostly, all online trading platforms do not offer such advanced features on a demo account. The expert option demo account has much to offer the traders; let’s find it out. 

(Risk warning: your capital can be at risk)

Demo account for practice trading

Trading online for a beginner can get tough if they start directly with a live trading account. It makes them prone to various financial losses. If they don’t comprehend the dos and don’ts of trading, then earning profits with trading becomes challenging.

Thus, a demo trading account is a perfect escape from this situation. It is a blessing for the traders. Besides using a demo account to learn to trade, they can also use it to build their trading strategies. 

Some advantages of the Expert Option demo account are:

  • As soon as you sign up for the Expert Option demo account, your account will get credited with virtual currency. 
  • Usually, the virtual currency you will find in your demo account will amount to $10,000. Thus, you can use it to learn to trade without the fear of losing your real money.
  • The Expert Option demo account helps you formulate the perfect trading strategies.
  • It has features that are available in the Expert Option live trading account. Thus, trading on the Expert Option demo account will allow the trader to know what it will be like to trade on the live account. 
  • You can use all the trading indicators available on the Expert Option live trading account. Thus, assessing the market and conducting a technical analysis becomes easier for any trader. 
Quick tip!
Once you think you have learned enough, you can switch to the Expert Option live account to enjoy the trading benefits. Switching to a live trading account and placing your binary options trade will require you to fund your account with real money. Expert Option has a minimum deposit amount that a trader must deposit into his account to initiate trading. 

(Risk warning: your capital can be at risk)

Expert Option minimum deposit amount:

Most brokers stipulate a very high minimum deposit amount for the traders. A minimum deposit amount is the one with which you must fund your account to begin trading on the platform. This amount is different for various online trading platforms.

Typically, if you compare, you will find that an average minimum deposit amount in the broker market is $100. However, Expert Option, one of the best trading platforms, allows the users to get started with only $10. 

Novice traders have to think about a minimum deposit amount very carefully while choosing an online trading platform. If they pick a broker with a high minimum deposit amount, it causes them to lock in their money. Thus, it is best to choose brokers like Expert Option with a low minimum deposit. 

(Risk warning: your capital can be at risk)

Minimum withdrawal:

Like a minimum deposit, a minimum withdrawal amount is also a significant concern for the traders. Think of an online trading platform that has a very high minimum withdrawal. 

Let us suppose any broker has a minimum withdrawal amount of $100. Here, a trader could not withdraw an amount less than $100. Even if you do, you might have to pay a small fee to the broker. 

Thus, it is nothing but an inconvenience for the broker. Thankfully, the minimum deposit and minimum withdrawal amount for the Expert Option is similar. You can request a withdrawal from your Expert Option trading account for an amount starting with $10. 

There is no upper limit to making withdrawals from your Expert Option trading account. However, it might depend upon the financial laws in your trade region. 

Now that you know the minimum deposit and withdrawal amounts, you might want to know the payment methods. After all, payment methods availability is one of the factors that help you decide whether or not to choose a broker.

(Risk warning: your capital can be at risk)

Expert Option payment methods:

There are multiple Expert Option payment methods available to fund your live account.

You can use:

  • Bank transfers
  • Electronic wallets
  • Credit cards
  • Debit cards,
  • Cryptocurrency

Thus, Expert Option offers the traders an edge over other online trading platforms concerning payment methods. Not all trading platforms offer traders the liberty to use the payment method of their choice. Some limit it only to bank transfers. Thus, it is a plus point for the traders. 

Good to know!
Multiple payment options always serve the traders the best. For instance, if you have the option of only one payment method, it restricts you. It becomes a problem if there is a chance of placing a profitable trade and a lack of funds in your trading account. 
You lose a profitable trade if the broker has only one payment method and you cannot use it. Thus, the Expert Option offers the traders a choice to use their preferred payment method. 

(Risk warning: your capital can be at risk)

Funding your Expert Option trading account:

After choosing a payment method, you can fund your Expert Option trading account. To fund it, Expert Option has a very simple procedure. 

  • Using the credentials, you can log in to your Expert Option live trading account. 
  • You will see a ‘deposit fund’ or ‘fund your account’ option. 
  • Clicking on this option will present a list of payment methods on your screen. 
  • You can choose your preferred payment methods amongst card payments, cryptocurrency, electronic wallets, or bank transfers. 
  • Finally, you can enter the amount you wish to deposit into your Expert Option trading account. Once you confirm or verify it, your Expert Option account will get funded. 
Good to know!
The best part about Expert Option trading is that once you confirm the payment, your account will get funded. Expert Option does not believe in delaying the funding of your trading account. It is an additional benefit that Expert Option traders enjoy. 

Bonuses and promotions:

Most traders feel drawn toward the brokers that offer them bonuses. A bonus is something that your broker might offer on trading a big amount or on signing up. Some brokers also offer a deposit bonus to the traders when they fund their accounts for the first time.

Expert Option does not offer many bonuses to the traders, except a welcome bonus. Also, this bonus is not available for withdrawing. It is one of the unattractive features of the platform. However, it does not mean the broker does not cover up this loophole. 

Good to know!
Expert Option offers different rewards, promotions, and cashback to the traders. A trader trading on Expert Option can unlock these promotion codes only by trading high-volume trades. 

(Risk warning: your capital can be at risk)

Assets and underlying markets:

It wouldn’t be lucrative to trade on a trading platform that offers only a limited number of assets. A limited number of assets does away with the possibility of diversifying trades. It also hinders the risk and financial management of the traders. 

However, the Expert Option is one of the traders’ best options because of its underlying assets. Unlike other trading platforms, the broker lets you access over 100 underlying assets. Thus, your chances of earning well with a diversified risk manifold. 

You can access plenty of binary options, stocks, commodities, cryptocurrencies, and forex on Expert Option. 

(Risk warning: your capital can be at risk)

Fees and commissions

When choosing a broker, fees and commissions that they charge are also important factors. Expert Option does charge a commission from its clients. However, the commission is very genuine when we consider other brokers

Expert Option will limit its share of the commission for every winning trade to $5. The commission on the payout percentage amounts to only 5%. 

Good to know!
The broker market has an industry standard of 5% when charging a commission on the payouts. However, Expert Option has a very less percentage of commission when we compare it with the industry standards. 

Very often, the brokers charge a commission from the traders for joining and trading on their online trading platform. Another good thing about Expert Option is that a broker does not have to pay anything to start trading on the platform. 

Expert Option mobile app (android, iOS)

You can’t always carry your laptop or open the browser to see your trade position. It is where the use of a mobile application comes into play. A mobile application offers ease to traders because of the convenience of trading anytime and anywhere. 

Expert Option mobile application is free to download from the Playstore or App store. Its mobile application has a high rating and reviews that allow traders to trade on the go. It has all the features available on the platform’s web version.

(Risk warning: your capital can be at risk)

Expert Option account types explained:

Depending upon your trading experience, you can pick an Expert Option live trading account.

Usually, the broker offers traders the following account types:

  • Micro
  • Basic
  • Silver
  • Gold
  • Platinum 
  • Exclusive 

(Risk warning: your capital can be at risk)

1. Micro account

The micro account is for traders who do not have much trading experience. The minimum deposit amount for a Micro account is only $10. 

2. Basic account

The basic account with the broker offers traders access to trading at any time of the day. However, the minimum deposit amount for the basic account is $50. Here, you can also access educational materials beneficial for enhancing your trading knowledge. 

3. Silver account

The silver account is an enhanced form of the basic account. In addition to the basic account features, a trader can also access free consultations from trading experts. A trader gets a personal account manager and daily market reviews with a silver account. The silver account has a minimum deposit amount of $500. 

4. Gold account

The gold account users get priority in withdrawing their funds from their live account. Expert Option gold account is an upgraded form of the silver account. If you are experienced enough, you can sign up for an Expert Option gold account with a minimum deposit of $2,500. 

5. Platinum account

It comes with all the features of a gold account with a minimum deposit of 5,000 USD. Additionally, you get access to various trading signals and personal account management services. 

6. Exclusive account

It is the top-tier account level. An exclusive account offers expertise in building various trading strategies. 

(Risk warning: your capital can be at risk)

Additional features of Expert Option:

There are various additional features that a trader trading on Expert Option can access. The top features include:

Let us review these additional features of the Expert Option. 

Trading signals

Signals are no less than a blessing for the traders. Trading can sometimes get tough when you struggle to manage many things. Such situations can cause trading losses when you cannot keep a watch on your position frequently. 

Expert Option offers the traders the privilege of accessing various trading signals. These trading signals can help you cut back your losses by buying or selling options when needed.

Trading charts

These are other crucial features of the trading platform. You wouldn’t want to buy or sell positions without knowing the market trends. Using trading charts can prove helpful when your position can get affected by short-term market changes. 

Expert Option allows users access to trading charts and various charting tools. You can use these to determine your next course of action while trading on the platform.

(Risk warning: your capital can be at risk)

Technical tools and indicators

Knowing the market resistance and support levels is crucial to making profitable trades. Trading indicators are the best way to know such things. Besides letting you know the resistance and support levels, you can also analyze the market trends. 

Good to know!
Expert Option has 8 technical indicators you can use to know the current market trends. Some leading technical indicators include Bollinger bands, Relative strength index, Moving average, Simple moving average, Exponential moving average

Using these indicators and combining them with other tools will give you an insight into the market happenings. Thus, you can plan your trades better and earn more with Expert Option trading. 

Social trading – How does it work with Expert Option?

Not all traders are proficient in trading right from the beginning. Some need the assistance of expert traders or their fellows. The social feature, a slightly new feature, allows the traders to do that. With this feature, you can see what your peer or fellow traders are doing. 

Social trading also allows you to see how advanced or expert traders behave. Thus, apart from learning by trading on your demo account, you can use social trading to become an expert. 

Good to know!
Expert Option does offer the social trading feature. While trading on Expert Option, you can use this feature and learn from the professionals’ behavior. Try using their trading strategies on your demo account to see whether it works. 

(Risk warning: your capital can be at risk)

Advantages and disadvantages of the trading platform

Trading on Expert Options has its pros and cons. 

Advantages of Expert Option (pros):

  • Expert Option minimum deposit and withdrawal amount are much less than other trading platforms
  • As you upgrade your account type, you get the services of a personal account manager. 
  • The number of underlying assets a trader can access on the platform is more than 100. 
  • Multiple funding options offer ease to the traders. 
  • Expert Option is intuitive and thus a perfect online trading platform for novice traders. 
  • Deposits and withdrawals at Expert Option do not require you to pay any fees or commissions to the brokers
  • The number of educational resources one can access on Expert Option is vast. 

Disadvantages of Expert Option (cons):

  • Expert Option will charge you an inactivity fee if you don’t operate your account for long. 
  • It does not accept clients from some geographical locations like the USA, Canada, New Zealand, etc. 

Customer support of Expert Option:

A broker can flourish if it offers good services to the traders. Customer support is one of those services. A good and reliable online trading platform will offer excellent customer support to its users. 

Expert Option has a well and good customer support system. Expert Option’s support staff is ever-ready to help if you encounter any trading problems. You can reach the Expert Option customer support through the chat box or an email.

(Risk warning: your capital can be at risk)

Is Expert Option legitimate or a scam?

As mentioned, two regulatory authorities oversee the functioning of Expert Option. Thus, you can rely on the legitimacy of the Expert Option and believe that the broker isn’t a scam.

Expert Option final verdict of the review: Legit brokerage

The broker is one of the leading and most trusted. The working of the Expert Option online trading platform is legit as it has regulators who govern its functioning.

Its top features like social trading, charting, trading tools, and indicators allow the users to experience unmatched services. 

The minimum deposit and withdrawal amount are also very less. Additionally, a trader has the flexibility to choose an account type depending on his experience. The multiple payment methods make a trading game easier for the traders. 

Thus, we can safely say that Expert Option is one of the most reliable online trading platforms offering high returns to traders. 

(Risk warning: your capital can be at risk)

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