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ExpertOption Review

ExpertOption
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Overview

Starting operations in 2015 and catering to traders from all around the world, ExpertOption is a newcomer to the binary options industry. With a very slick and expensive marketing campaign… more

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Details

Broker ExpertOption
Website URL www.expertoption.com
Founded 2015
Headquarters Kingstown, St. Vincent and the Grenadines
Languages English, Spanish, Pourtuguese, Russian, Norwegean, Chinese, Korean, Thai, Indonesian, Malay, Tagalog, Hindi
Minimum 1st Deposit $50
Minimum Trade Amount $1
Maximum Trade Amount $1000
Bonus 50-125% deposit bonus for new traders!
Payout 170-195%
Free Demo Account Yes
Deposit Methods Visa, Mastercard, UnionPay, Neteller, Skrill, WebMoney, WeChat
Withdrawal Methods Visa, Mastercard, UnionPay, Neteller, Skrill, WebMoney, WeChat
Number of Assets 70+
Expiry Times 1 min, 2min, 3 min, 4 min, 5 min
Types of Assets Currencies, Commodities, Stock, Indices, Bitcoiln, Litecoin
Option Types High/Low, Turbo
Trading Currency USD, EUR, RUB, CNY
Account Currency USD, EUR, RUB, CNY
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 71/100

Screenshots

Screenshot 1 Screenshot 2

Pros

  • Impressive trading platform and smartphone app
  • Offers trading in Bitcoin and Litecoin
  • Available in multiple languages

Cons

  • Not suitable for professional or larger traders, maximum trade size $1000
  • No Regulation
  • Only short term options up to 5 minutes
  • Limited payment options

Full Review

Starting operations in 2015 and catering to traders from all around the world, ExpertOption is a newcomer to the binary options industry. With a very slick and expensive marketing campaign in multiple markets, us here at BinaryScore were very interested to review this broker.

Website and Trading Platform – 18/20

There’s no denying that ExpertOption has one of the slickest and most visually appealing trading platforms on the market. The company has clearly made a massive investment in technology to put this together.

There’s a variety of advanced charting features including technical indicators and basic chart drawing, however only short term charts under 5 minutes are available, therefore making it not suitable for longer term chart analysis (a few of us here at BinaryScore use TradingView – it’s free!)

Expert Option iPhone appExpertOption iPhone and Android App

There’s the ability to make deposits and withdrawals directly from within both the web and smartphone applications and a “social trading” function where trades from other users on the platform appear in real-time on the chart.

Assets, Payouts and Expiry Times – 15/20

There’s a good selection of currencies offered to trade including some of the more exotic currency pairs such as USD/HKD and USD/ZAR. They also offer a couple of the major indices (Dow Jones, S&P), commodities (Gold and Oil), stocks and “cryptocurrencies” (Bitcoin and Litecoin).

ExpertOption’s focus is short-term trading and it only offers options with expiries of 1 to 5 minutes. This might be fine if you only ever trade in the short term but many traders will want the flexibility to trade longer term options of 1 hour or 1 day.

Trading is offered over the weekends “Over-the-counter” (OTC) but we do not recommend it as it’s difficult to determine where the pricing data/feed comes from.

ExpertOption trading softwareExpert Option web platform.

Payouts range from 170-195% and vary depending on market volatility. We did not experience any issues, but do note growing complaints from traders on forums and social media about payouts being reduced after multiple winning trades.

Deposit, Payment Methods and Bonus – 15/20

There are the usual payment methods of credit cards, international bank transfers and payment processor Neteller. They also offer deposit in CNY via WeChat.

Bonuses are based upon the amount deposited and appear generous but they are subject to very strict trading volume requirements to receive. The ExpertOption requirement is 50x the bonus amount. For example:

Deposit $1000. Receive $1000. You must make $50,000 in trades (50 x 1000). The bonus is then yours to withdraw.

Expert Option bonusesExpertOption bonuses and deposit options.

We also note that the ExpertOption maximum trade size for all traders is $1000. Due to this, ExpertOption is not suitable for many larger and professional traders.

Licensing and Regulation – 7/20

ExpertOption is not regulated by any government body at all.

It is a member of a mysterious Russian organisation called the “Financial Market Relations Regulation Center (FMRRC)” which gives the appearance of regulation and claims to have a compensation fund in the event of a broker collapse. They have given no indication that they are seeking to become regulated by a government regulator.

While we are not suggesting that ExpertOption is anything but an honest operator, we are wary of dealing with unregulated brokers and urge caution to traders. We cannot recommend them for professional traders or those who have large accounts.

Customer Service – 16/20

They offer support through email, phone and live chat 24 hours a day, 7 days a week.

Phone and live chat support is offered in various languages but it isn’t exactly clear which ones exactly.

Summary

We were very excited to trial and review ExpertOption as they are a newcomer and had such an impressive looking platform and marketing campaign. We were left with mixed feelings overall regarding this broker, while the platform lived up to expectations we didn’t feel entirely comfortable with the lack of government regulation and the approach they take towards deposit bonuses.

The low maximum trade size of $1000 and limited local payment options makes it unsuitable for many traders.

ExpertOption overall score = 71/100

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16 Responses to “ExpertOption Review”

  1. Broker really impressed. Interest is good, and very convenient platform. I was pleasantly surprised, did not expect this from the middle-class broker.

  2. I was afraid to start, because there are conflicting reviews
    But so far everything seems to be OK, and output, and wages have ..

  3. Compared to other companies, ExpertOption actually looks pretty good. Like most beginners, at first I was afraid to invest money and start working with the usual account, and therefore used a demo account. It is now a well-paid in the normal mode) With the withdrawal of funds is no problem it never was. By the way, if you are a beginner, you can explore a variety of teaching materials, which will prompt you what to do should begin trading on the broker’s website.

  4. The broker actually is very bad. While worked few weeks that everything was normal, but then sudden decreases in percent have begun so to earn by sense and it hasn’t turned out. When has decided to contact support and to find out in what a problem, so nobody has answered me. Karoche is dissatisfied I with such sickly broker!

  5. It’s scammers. Lure to work on forex through your company, and then if you want to withdraw money from the account under any pretext block the account. Already checked by many. Run away from this company. And in no case do not deposit money into the account.

    1. Hi Patrick,
      We’d like to hear more about your bad experience with ExpertOption. Could you please email us details via the contact page?

      Thanks,
      BinaryScore Team

  6. It’s scammers. Lure to work on binary options through your company, and then, if you want to withdraw money from the account, under any pretext block the account. Already checked by many. Run away from this company. And in no case do not deposit money into the account!

  7. I do not advise you to connect with this broker. It’s difficult to work with, but it’s even harder to withdraw your money! You just will not be allowed to do this, they can reach the account deletion without any reason, but at the beginning they will simply lower the interest. So pick a broker more reliable

  8. I really enjoyed working with this company. During the work with this broker I have not encountered any problem. Rather the opposite – everything works fine, and brings quite good money.

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