The world of forex trading is so challenging and competitive that it seems so rare to be successful without the help of any brokers. That’s why there are significant demands for professional forex brokers. When there are demands, there is an exposition of several supplies. In this regard, you can see why there are many forex brokers, companies, or platforms. One of the most popular brokers is Expert Option which, with its brilliant features, has gained a considerable reputation. Everything you need to know before trading with ExpertOption you can find in our detailed ExpertOption Review.
Regulation: VFSC & FMRRC- Minimum Deposit: $10
- Minimum Trade: $1
- Bonus: 100%
- Payouts: Up to 95%
- Assets: Stocks, Commodities, Crypto, and Forex
- Platform: Web, Android, iPhone, Windows, MacOS
- Demo Account: Yes
- US and UK Traders: Not Accepted
However, it is not suggested to all the traders to choose even the broker of ExpertOption without any research. In this regard, here any information you may desire to know has been gathered in this article. This information starts from the complete introduction of Expert Option to the account type and accepted countries. So, after reading this article, you are at least more familiar with this broker of forex. For expanding your knowledge about Expert Option, you can research about the other brokers and, by a simple comparison, understand that whether Expert Option is your type or not.
Further Reading:
Table of Contents
What is ExpertOption?
ExpertOption is an online broker with one of the fastest digital tools which allow its clients to achieve their goals effectively. ExpertOption was founded in 2014 which has been knowing for being a loyal and reliable broker of forex from that time. Since 2014, this broker has been providing big-time services for forex trading, and currently, it supports almost 30 million deals each month.
To deliver a full-filled transparent online trading experience is the goal of ExpertOption; therefore, to bring this goal to reality, they have enriched several platforms with great tools and instruments. There are also some teaching supplements in this forex broker that teach the traders how to use the utilities of the broker and its platforms more effectively.
What makes this broker so professional is the existence of many highly qualified managers who analyze clients’ actions. This is because of understanding the exact needs of the clients and providing them as fast as possible. This swell broker also intends to deliver the transactions and trading process as quickly as possible. They do all they can to be outstanding and help their clients have excellent bargains of currency pairs.
Pros and Cons
Having negative and positive features is a typical event for all the brokers of forex. In other words, you cannot find a broker without any weak points. If so, you’d better doubt the reliability of that broker. So, it is also true about the broker of forex, which is discussed here. Since its advantages are more than its disadvantages, it is better to introduce the benefits of this broker first.
Benefits
The popularity which this broker has gained must be because of logical, perfect reasons. It could prove to all the traders that they can trust this financial forex services source and open an account there. If you are curious about these benefits, it is better to mention advantages such as:
- The low minimum deposit is just$10
- Large maximum profits, which is up to 95% of the winning
- Extraordinary platforms which are easy to use
- In addition to desktop access, there is highly qualified mobile access
- Several education and training materials for improving the traders’ knowledge
- No commission for deposit and return of money
- Large bonuses
- Personal account managers
- Excellent tools for the analysis part of forex trading
- Verity of funding option
- Satisfying customer service
Drawbacks
The downfalls of ExpertOption are much less than the benefits that if your trading’s destiny is not bound to these weak points, there is no need to be worried about them. The first weak point of this broker of forex is the lack of US currency for transactions. So, if you want to trade with US currency, forget this broker. The other negative point of this forex broker is the short-term option that is not suitable for traders interested in long-term transactions and investments.
The broker of ExpertOption is not regulated in Europe, and unfortunately, it doesn’t support some two important trading platforms such as MetaTrader 4 and MetaTrader 5. It is entirely up to you to decide that with such facts and drawbacks, is this forex broker appropriate for you?
However, maybe you are still in doubt. In this sense, you’d better become more familiar with the features of this broker in detail. So, go through the next part, which explains its other characteristics, like the platforms used by the broker.
Characteristics of ExpertOption
Each forex broker is known for its characteristics which make them different from the other. Thus, traders must search about their characteristics and their differences with the other brokers. Some of the essential features of ExpertOption are gathered here to help you make a better decision in choosing this broker.
ExpertOption provides different trading platforms for the users on various online devices such as web, mobile, or desktop app. So, it gives its users a wide range of options to decide which one they prefer. As you know, the other brokers for saving time and energy use platforms like MetaTrader 4 and MetaTrader 5; however, as is mentioned earlier, this broker of forex has no such platforms. But, it doesn’t mean that it is not a big-time broker.
Instead of the popular platforms for the other brokers, ExpertOption has created its platforms. These platforms have features that give the clients what they have the desire. In other words, using this broker’s tools and platform are so handy and easy that they allow the clients to work via the web, mobile, or desktop app. However, there isn’t any exterior support in a broker like this, and those looking for such help may consider this forex broker not safe enough.
Although such thoughts may disturb the clients, the broker has proved that its interior supports are as powerful as the exterior ones. Plus, there are a lot of signaling and analysis tools that give this broker reputation, such as:
- Multiple trend lines
- Four chart types
- Eight indicators
Overall, ExpertOption provides platforms with supporting social trading, monitoring top traders, and allowing the traders to copy trading strategies. All these features give the trading platforms of this broker unique popularity.
Assets and Markets
This broker of forex is famous for providing more than 100 instruments for trading. According to many experts, this number is not fixed, and it is expected to rise by increasing the number of stocks, commodities, currency pairs, and crypto. Some of the famous instruments trading in this broker are Gold, Platinum, and Silver commodities, Google, Facebook, and Apple stocks, top currency pairs such as USD/EUR, GBP/USD, and of course cryptos like Bitcoin and Ethereum.
ExpertOption Review
Commission and Spread
$5 is the fixed commission for each winning trades in this broker. Sometimes, when it comes to the brand, this commission could be increased up to 5%, which this percentage in the other brokers could take up to 15%. Spreads depend on the type of account that each user has chosen, and it can be as low as 0.1 points. ExpertOption has remained a competitive broker to trade because of its fixed spread, which you cannot find any other broker with such characteristics.
When it comes to payments, another critical thing in this broker, compared to the others, is that it is entirely free to join and trade. Therefore, you are not pushed to pay any money for your trades except the commission amount mentioned above.
ExpertOption Review ; Payment Methods
The thing that has made this broker a brand worldwide is the variety of payment methods. The deposits and withdrawals are made with several simple processes, which are fully explained below.
Deposits
This broker has done a lot of valuable things to simplify the process of deposits. People from all over the world choose this broker for beginning their trades because of its minimum deposit of a comparatively low $10. Sometimes, based on several elements such as the types of trading, this amount could be reduced up to 1%. All in all, there are more than 20 payment processors in this broker, including:
- Skrill
- Neteller
- OrangePay
- Wire Transfers
- UnionPay
- Visa
- Perfect money
- WebMoney
- MasterCard
- Maestro
- Cryptocurrencies like Bitcoin and many more
Withdrawals
Withdrawals of the fund are one of the most critical concerns for several traders. ExpertOption has provided a simple process of leaves based on the account’s type. However, withdrawals usually are made through cryptocurrency or e-wallets. The minimum payment amount for withdrawals in this broker is $10, which you can get via Skrill, WebMoney, Neteller, Perfect Money, and many more.
Demo Account
This broker provides a demo account that allows the users to become aware of their power points and weak points in trading. There is no need to register, and it is beneficial for the traders because they achieve an accessible experience that doesn’t need any personal data. This shows you that this broker is so confident in their work, which makes you trust such a broker easily.
Privacy and Security
Like many professional brokers, safety and security are crucial for ExpertOption; that’s why many cryptographic algorithms are employed to assure clients that their data are safe. This broker is licensed by the SVGFSA, a governmental financial authority that provides security in financial matters of the transactions. Furthermore, transactions are PCI DSS Compliant which means all data is encrypted.
ExpertOption Review ; Account Types
This broker has six types of accounts, which give the users a wide range of options. Each of these accounts has its benefits, and this fact signifies that it is the clients who choose the type of account based on their goals and conditions. Among these six types of charge, the silver account is the most popular one because of the balance of benefits for the investment amount. There is also a type of account that has extraordinary features which are accessible for VIP traders.
Accepted Countries
Traders from countries like South Africa, Hong Kong, Thailand, Saudi Arabia, Kuwait, Luxembourg, India, United Arab Emirates, Qatar, and most other countries are accepted in this broker. ExpertOption doesn’t buy traders from United States, Canada, Switzerland, Israel, United Kingdom, France, Germany, Ireland, Denmark, New Zealand, Australia, Singapore, Bulgaria, Sweden, Portugal, Norway, Iceland, Spain, Yemen, and Italy.
ExpertOption Review ; The Bottom Line
ExpertOption is one of the famous brokers among traders, which has many features that make it a brilliant platform. Like many other brokers, it has its advantages and disadvantages that you must know and, based on your conditions, decide that this broker is the right one for you or not. The only thing that you must consider is the country that you are trading there. Check that this professional broker accepts your country or not.
