An honest broker review will help you make an informed decision, and we are back with other buzzwords: “Expert Option review.”
The popularity of online trading is rapidly increasing. It is because you can fill your wallet from the comfort of your couch.
Founded in 2014, Expert Option offers binary options trading. Their website claims to have a regulatory entity, but compared to other leading brokers, theirs needs to be better to count.
Also, they have earned tremendous trust from traders for their fair trading policy and other features. But recently, traders have had some spooky experiences with this options broker.
So, in this article, we will disclose whether or not Expert Option is a scam entity. Besides that, you’ll learn about this broker and how it works.
Let’s do jam.
High Capital Risk Is Involved In Financial Trading
Expert Option is owned and operated by EOLabs LLC. The company has more than 70 million traders. On the other hand, ExpertOption is a multiplatform broker with a mission to transform the traditional market into a smarter one. Including the web terminal, you will get the mobile application to trade on the go.
Moreover, it won the Best Trading Platform award at China Trading Expo Shenzhen on 6-7 May, 2017.
Additionally, Expert Option joined The Financial Commission as a registered Member to strengthen the legitimacy of its services.
Do you think all of these qualities make a broker trustworthy?
In our expert opinion, this broker is a complete scam with tons of unrealistic promises and misleading information, though people from 48 countries trade with them.
There is no doubt that the platform uses modern technologies, but something that one should notice before investing with them.
Yes, you can make profit with Expert Option. But the requirement is to have the best strategy that will bring money from the most volatile market. It is an innovative investment tool that has everything under one roof.
However, the profit depends on the current market situation.
ExpertOption has some unique features that make this broker appealing to new traders.
Let us check those –
As mentioned above, this broker is a registered member of The Financial Commission. According to their website states,
The Financial Commission is an independent dispute resolution and self-regulatory organisation that specialises in financial markets.
Though it is not a famous regulatory body, so far able to protect your money from being scammed. On the other hand, ExpertOption is committed to serving a high standard of service with scam-free business practices.
Also, you can view the certificate from Here.
So, the facts are-
The signup process with Expert Option is easy and convenient. You are not required to fill out a complete form to open an account.
Enter your valid e-mail address and password; your platform is ready. To open a live account, just deposit the initial amount, depending on your account type.
Traders will enjoy a deposit bonus based on the amount. The deposit bonus starts at $30 and above. The bonus is 20% of your deposit if you deposit $30.
However, you will not be able to withdraw the bonus amount.
The first thing that we attempt to open a demo account. This is not just only test the platform but also to check the features that they promise to serve.
Demo trading is definitely a helpful tool for traders. And ExpertOption has this facility with $10,000 virtual money. Now you can trade without any monetary loss.
Expert traders can also trade through a demo account, though it is the best tool for beginners. You will get
You can start with a demo account like us. We opened a demo to test the platform and after opening an account, we found the dashboard packed with the necessary tools and instructions.
You can switch to a live account anytime just depositing an initial amount.
Also, you can download the desktop app or trade directly from the web platform. On the other hand, mobile apps are also there to give you a quick view.
The right side of the screen is where traders can review open deals, including trends, and copy trading lists. Besides, you will find all the supporting parts on the left side. Inside the main dashboard, the upper portion will display charts and tools to analyze the market.
Finally, select the asset, investment amount, and strike price from the bottom portion. Click on the call or choose an option depending on your market research and strategy.
High Capital Risk Is Involved In Financial Trading
Expert Option has a web-based platform that allows traders to trade without downloading any application.
However, if you wish to have a different experience, you can download the application for both your mobile device and desktop.
You can now download the application to trade the market for the desktop. You can see the dashboard clearly from the desktop app, and also the most appropriate option for trading.
Rather than the web-based platform, for a few traders, the downloadable platform is more efficient. Also,
The mobile trading app will simplify your trading journey. Though trading via a mobile app is not recommended, you can check the market update.
With the help of mobile trading, you can also see your trading history and deposit on your trading account.
From the Expert Option Mobile App setting option, you can set your trading language according to your country.
Apart from these, other usefulness are-
ExpertOption allows traders to enjoy the benefits of social trading. It is an amazing tool that helps inexperienced traders earn without prior knowledge of trading. You will find the social trading option on the right side of the platform.
However, social trading is only possible with a live account. You can see all open trades in real time, profits, and losses on the list. On the other hand, it will give you many reasons to choose it.
So, the benefits are:
Additionally, you will get to know the sentiment analysis to understand the market situation. Finding the number of open deals is possible from the list.
So the facts are:
High Capital Risk Is Involved In Financial Trading
Apart from the demo account, there are 6 more account types for traders. Each account type has unique features. Trading skill, trading amount, and sometimes investment capacity determine how traders account for their trades.
On the other hand, benefits for some types of accounts are activated manually after the client requests them via email.
High Capital Risk Is Involved In Financial Trading
The demo will enable you to learn how to use the platform, including the learning session. But if you are just about to start with a live account, the Mirco account type is the best option.
However, depending on your investment capabilities and expertise, you can choose any account from the list above.
The education section is divided into multiple portions. Each portion will guide you to something related to trading. Let‘s have a look at it.
In The glossary part, the trader will find the keywords, which are important while trading different instruments.
All keywords are based on trading education
Technical analysis is how traders predict future price movements based on past price history. To trade trading assets successfully, you must be able to predict price movements. You will find the much clearer view in this portion.
The graphical analysis will help you to indicate the price movement.
There are few analysis patterns such as –
You will find the details of each analysis in the Graphical analysis section.
The technical analysis only shows you the movement of the price based on the market situation and with the help of different graphs and patterns.
Therefore, Fundamental analysis helps us to know the price movement after reaching a key level. It shows an estimation of the current economic situation of a particular company.
You can predict the price of the future of a particular asset. Besides, it will help you not to trade with an unprofitable asset.
Psychology of Trading:
Sentiment analysis is one of the major aspects of trading. The psychology of traders helps them make the right decisions when combined with technical indicators.
Some traders prefer to buy an asset when the price is low or the market is bullish. Similarly, other things are also involved when you decide to open or close a position.
This section will help you to learn more about psychology and how to deal with it.
There are lots of trading strategies to make a profit in the trading market. To be a successful trader, you need to use a few trading methods while trading.
You can follow other successful trader’s strategies or you can apply your one. I especially prefer to use own trading strategy.
It is not necessary that other person’s trading strategy will work for you. All trading strategies are based on different signals depending on the chosen analysis methods.
In the part of the strategies, you will find a few details method. You do not need to study a lot to find out the right strategy.
You can use a demo account to find which strategy will work for you.
We are here putting a few names of trading strategies.
Engulfing Candlestick Strategy
Squat Candlestick Strategy
Tweezers Strategy
Three Methods Strategy
Breakout Strategy
Reversal Strategy
Moving Average Strategy
Bollinger Band Strategy
Alligator Trending Strategy
The strategy depends on both news and asset management. News trading depends on the market news.
Sometimes the market gets volatile after the publication of trading news. Though news trading is a risky strategy, you can earn a good profit.
You can lose your assets as well. Moreover, you have to accept the fixed loss if you except a fixed profit.
You will get toolbar in Expert Option platform. There are charts, graphs, and drawings.
There are few chart types. These are –
For candles and bars, you can select the time frame. Others chart types have no option of time frame.
The time frame starts from 5 seconds to 60 seconds.
There are few indicators which will help traders during the trading time. These indicators are –
You can set each indicator combined with period, colors, types and so on. These indicators will help the technical analysis to predict the market.
To add an indicator just click on it, choose the setting and apply.
In our demo trading, we used RSI and MACD mostly.
Drawings can be used to draw the support and resistance line.
To add the drawings in your trading window just click the drawing model, choose the color and thickness then apply. You can drag the line to adjust its position.
If you want to delete or remove the drawing and indicators, go to the toolbar and select a current option then remove it.
See the social traders by clicking into the social trading button. If any trader places an order you can see that in your trading window.
In Expert Option, you will find more than 100 types of trading instruments or assets.
In this part, I will discuss the asset part of this broker.
There are 4 types of trade-able assets –
You can view all assets from the asset bar, or if you know which assets you want to trade, write the assets name in the search bar.
The sides bar shows you the expiration time of each asset.
It will vary from asset to asset.
Anyone needs to choose the time to open the deal or execute the trade. Currencies have shorter expiration, whereas stocks have a longer expiration. Also, they are traded into a pair.
You will get major, minor, and exotic currency pairs. In cryptocurrency, including Bitcoin, there are more than 10 cryptos.
The most volatile assets on their platform are Bitcoin, Ethereum, and Litecoin.
Commodities include precious metals and energies like Gold and oil. In stocks, you can find international brands like Apple and Disney.
Trading is available for 24/7.
However, the market is separated based on different trading session, based on four Geographic regions.
These are –
Asia
Australia
Europe
America
Depending on the trading session different trading markets open and also trading instruments tend to be more active.
You have to keep your mind the local time zone and your trading time zone.
You can switch to the real account at any time by just depositing the initial amount. Choose your account type and deposit to avail the real account features.
So, the process is simple, with a few minor steps. But you should be careful enough:
Expert Option accepts Visa/Master Card, payment through Crypto, Wire transfer, and e-payment with local payment methods. If your payment shows invalid, don’t panic. It will not charge any amount after showing an invalid payment option.
Wait for a while and try again. Better to communicate with the support team to avoid unwanted problems.
In accordance with Expert Option’s withdrawal policy, you can withdraw the same amount only to the card you used for the deposit. Other funds you can withdraw using other methods.
The minimum withdrawal amount is $10. All you need to send the request and allow them to proceed accordingly.
At the same time, please, do not forget to verify your account if necessary to experience a smooth withdrawal process.
Expert Option allows bank transfer, Visa/MasterCard, Bitcoin, Skrill, Neteller, Webmoney, Yandex, Money, Qiwi including local methods. The request will take at least two working day to process.
Withdrawal fees aren’t charged by them. A payment system will charge commission for the processing of the transaction.
The support team is always available to assist you. We have tried to check their quality by asking multiple questions regarding payment methods, account information, etc.
They are attentive and try to solve the issue in a minute.
On the other hand, you will get
There are some noteworthy benefits or advantages that attract traders to trade with ExpertOption. Usually, all platforms offer something unique to offer that helps traders perform with outstanding results.
So these are the –
So, the question is whether the platform serves excellently or is a scam. According to the market evaluation, many users have reported experiencing difficulties withdrawing funds from their Expert Option accounts, and some have even claimed that their accounts have been closed without any explanation.
Traders’ complaints have been addressed on different forums and review sites.
Additionally, some users have reported that the platform’s customer support is unresponsive and that they have encountered technical issues while using the platform. However, we haven’t faced anything like this yet.
Despite this, not all users have had bad experiences with Expert Option. Some users have reported successfully trading on the platform and withdrawing their funds without any issues.
So, it is wise to conduct your own research and take decisions based on that. You should always be cautious when it comes to online trading platforms.
When checking for scams, remember these bullets:
While there are many advantages to using ExpertOption for online trading, there are also some potential drawbacks that users should be aware of. Here are some of the key drawbacks of using ExpertOption:
Here are some common questions that we got from different trading groups.
In conclusion, Expert Option is an online trading platform that offers a range of advantages for users.
If you’re interested in online trading and looking for a platform that is easy to use and offers a range of investment options, ExpertOption may be worth considering.
However, it’s important to be aware of some of the potential drawbacks as well. Just be sure to do your research, exercise caution, and invest only what you can afford to lose.
This post was last modified on July 4, 2023 8:22 pm
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