ExpertOption describes itself as the fastest-growing financial app, and it’s got the data to back it up. It’s fast in other ways, too. Despite being a relatively small-scale competitor in the crowded trading platform space, ExpertOption supports rapid trading using modern technologies and offers a 24/7 service in English, Arabic, Chinese, Hindi, Indonesian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Turkish and Vietnamese. As you can tell, ExpertOption focuses on the South American, Asian and Middle Eastern markets, and you can find out what this means for you in ExpertOption review.
About ExpertOption
ExpertOption made its debut in 2014. It is operated by EOLabs and owned by ExpertOption (EO) Services Limited. Based in Kingstown, located in St. Vincent and the Grenadines, with headquarters in Vanuatu, the brand features over 70,000 clients in 48 countries and processes over thirty million deals each month.
This trading platform is a significantly smaller operation than some of its larger counterparts, but it’s also one of the fastest-growing brands if you take the Google Play and App Store metrics and rankings into the equation. ExpertOption focuses on key markets, including South America, Asia and the Middle East. It isn’t accessible to EEA, UK, Canadian, US, New Zealand, Russian, Australian and Puerto Rican residents. That undoubtedly explains its smaller, more targeted presence in this sector.
Alongside its asset trading options, ExpertOption supports technical analysis tools with four chart types, eight indicators, and trend lines, all of which provide assistance to budding traders. There’s a wide array of educational tools up for grabs, too, including fundamentals and graphical analysis, guides to the psychology of trading, and trading strategies, as well as webinars and tutorials for beginners.
Social trading is also possible on this platform. With ExpertOption, you can watch deals happen across the globe, partake in them and trade with friends. Studying VIP member trading patterns on Twitter (X), YouTube, Facebook, and Instagram is something else to consider, and you can follow suit using the supported social trading options.
Choosing to get started at ExpertOption won’t just means you will be eligible for a welcome bonus. You’ll also get to use a free demo version, which features $10,000 in virtual currency for you to practice with. This demo version of ExpertOption is compatible with all browsers, making it the ideal way to get started.
Assets
ExpertOption supports over a hundred assets to trade, including stocks, indices, metals, commodities, and ETF options. On average, there is a $1 minimum trading limit in place, with 0% commission and zero fees associated with completing trades using EO’s service.
While we won’t list all the available assets here, we should at least touch on them so you have an idea of what to expect. Here’s what you need to know:
· Currency Trading: FOREX currency trading is the biggest market at ExpertOption, and over ten currency trades are possible. Alongside the ever-popular EUR/USD option, which makes up 70% of these trades, you can also get involved in currencies that include Australian, Canadian and New Zealand dollars, British pounds sterling, and Swiss francs, amongst others.
· Crypto Trading: Engaging in cryptocurrency investment and trading is possible using Bitcoin, Ethereum, Ripple, Tether, Bitcoin Cash, Litecoin and less mainstream options, including ZCash, Bitcoin Gold, Ethereum Classic, IOTA, Dash and others. In all, over fifteen cryptocurrencies can be used at ExpertOption.
· Stock Binary Options: Over twenty major stocks are supported at ExpertOption. These are tied to mainstream brands, including Amazon, Apple, Coca-Cola, Facebook and McDonald’s. Chinese options, including Baidu, may be appealing given EO’s particularly large Asian client base.
· Metal and Energy Commodities: Just three options are supported here, and they are all classic commodities – gold, silver and crude oil (Brent).
Promotions Available
ExpertOption supports both deposit-based bonuses, and it has a multi-tier membership scheme that hands out additional benefits to high-ranking members of the trading platform. While we’ll look at those in turn, let’s first begin by exploring the opening offer:
· Welcome Bonus: By registering at ExpertOption, you can claim a 100% bonus on your initial investment. Make a deposit of $250 or more to claim a 100% bonus, taking your balance to $500. If you deposit more than that figure, there is a maximum cap in place, so you’ll only ever receive a flat $500 bonus no matter what you deposit. Be sure to use the MONEY100 code to claim the offer.
Already registering traders at ExpertOption can also claim re-deposit bonuses. However, small deposits of $10 to $20 won’t be eligible. Here’s what you need to know:
· Re-deposit Bonus: Deposits of $30, $50 or $100 are entitled to a 20% bonus. Deposits of $250 to $1,000 are offered 30% bonuses, while you’ll get a 50% bonus if you deposit $2,500 or more.
While it doesn’t yield re-deposit bonuses or other promotions in quite the same way, there are some additional perks to working your way up the membership structure at ExpertOption. Below, you’ll find the benefits that each tier brings and how they work:
· Micro (from $10): Ideal for those wanting to make a light start (with the option to upgrade later), this introductory tier offers educational materials and the ability to process up to five deals simultaneously, and deals are capped at $10.
· Basic (from $50): This status is ideal for anyone who wishes to kick-start things with an advantage. While it increases your limit to ten simultaneous open deals, the maximum deal value is still set to just $25.
· Silver (from $500): A popular option with most first-time traders, the Silver account membership tier brings the same educational materials and benefits as the previous tiers, albeit increasing maximum deal limits of $250 and up to fifteen simultaneous deals. Added perks at this tier include daily market reviews and financial research.
· Gold (from $2,500): Gold membership is ideal for those who want privileged features when making smart investments. All previous perks are included, alongside priority withdrawals, a maximum deal limit of $1,000 and a limit of up to thirty deals at once. Gold members can also benefit from up to 2% increased asset returns.
· Platinum (from $5,000): Deposit $5,000 to join the Platinum tier. Here, you’ll find no limits on simultaneous deals, maximum deal limits of $2,000, up to 4% increased asset returns, and all the benefits previously listed, plus the expertise and exclusive account management options ideal for serious investors.
· Exclusive (Invitation Only): This tier is only available by invitation. Your maximum deal amounts are raised to $3,000, and up to 6% increased asset returns are available alongside all prior privileges.
Payments
ExpertOption supports over twenty payment methods and a varied array of currencies. On average, deposits must be worth at least $10, but they are free from added charges and instantaneous.
· Accepted Payment Methods: VISA, MasterCard, Maestro, Skrill and Neteller are the primary deposit options, while cryptocurrencies are also popular. Other methods include JCB, Binance Pay, Union Pay, Paytm, UPI, Globe Pay, Union Banking, Payweb, Web Money, Yandex Money and a few others based on your locale.
Withdrawals are possible with bank card and e-wallet options, and as mentioned, there are no commissions or fees associated with cashouts. Priority withdrawals are available for Gold, Platinum and Exclusive-tier members. All members can expect turnaround times of roughly one day, but that’s assuming you clear its KYC process. Verification documentation can include a national ID card, driver’s license or passport. Statements may be requested to provide proof of payment if you deposit using credit cards.
Fees
We can afford to be brief here. ExpertOption doesn’t hit its users with fees. Moreover, there is no zero commission on processed trades. This gives it an edge over counterparts like Binomo, which do have fees and commissions (in a few cases). Of course, EO isn’t the only trading platform offering zero fees and commission, but it’s definitely a selling point.
Platforms
ExpertOption is well-designed to cater to players on virtually all mainstream platforms. For instance, its Android app is accessible as an APK file or via Google Play and works on all devices with Android 4.4 or above operating systems. iOS users can get the platform via the App Store on devices running iOS 8.2+. ExpertOption regularly appears as the top finance app in over forty-seven countries according to Google Play and App Store rankings, making it a leading option.
Desktop users can expect a Windows platform on Windows XP devices or newer, while MacOS devices must run Mavericks or higher. Browser-based options are also a possibility. However you decide to use the app, ExpertOption offers full trading platform functionality. It is one of the fastest-growing options out there, with over 100,000 installs at the time of writing.
Regulation
This is where things become a little muddled. ExpertOption is certified by the Financial Commission, but St. Vincent and the Grenadines don’t license or regulate financial trading companies. For this reason, EO is regulated by the Vanuatu Financial Service Commission. It is still a relatively new regular, not steeped in history or experience, so that’s worth considering. They don’t provide a registration or license number, though, so we can’t independently verify that.
However, we can certainly verify that the platform is audited by VerifyMyTrade and is a member of The Compensation Fund, as ExpertOption proudly displays those certificates on its regulation page. EO also has a separate dispute resolution process with the Financial Commission, is PCi-certified for safe financial transactions, and has won an award at the 2017 Chinese Trading Expo in Shenzhen. That was a while ago, but it still indicates how trustworthy EO is.
As for customer support, you can reach out to EO’s team around the clock via e-mail ([email protected]), e-form or live chat. Some countries, including India, also support toll-free telephone assistance.
Pros & Cons
Pros
- ExpertOption has ample educational resources for beginners
- Enjoy a free demo with $10,000 in virtual currency
- EO has some of the best-supported mobile apps
- No commission or fees are in place
Cons
- A lot can hinge on your current membership status
- There are quite a few regional restrictions in place
FAQ
Is ExpertOption legit?
ExpertOption claims to be regulated out of Vanuatu, but we couldn’t independently verify that. It does show certificates of being independently audited, though, and it has a decent track record, so we’d say it’s legit.
What is the bonus for ExpertOption?
Joining ExpertOption and depositing $250 using the MONEY100 code nets you a 100% bonus (worth another $250), giving you $500 to start trading.
Can I trust ExpertOption?
We gave it a run for its money and weren’t disappointed. The emergence of dispute resolution mechanisms, PCi security, and other aspects imply that you can trust what EO is offering for traders.
How does ExpertOption’s demo work?
After registering for an account, you’ll get the option to use the browser-based demo. This gives you $10,000 (in virtual currency) to use on the site.
Is ExpertOption ideal for beginners?
Absolutely. We feel strongly about this. ExpertOption has a wealth of beginner’s resources, strategy guides, and even guides on the psychology of trading. There are so many resources that beginners may even be overwhelmed with information – which isn’t a bad thing.