Expert Option Review

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Let’s delve into the world of online trading with a critical look at Expert Option, a platform teeming with over 50 million registered users and a diverse array of trading assets, from currency pairs to stocks and commodities. But amidst this bustling marketplace, the question looms: Is Expert Option a trustworthy broker? Join us as we delve into the realms of regulation, platforms, education, markets, accounts, and funding to uncover the secrets behind this trading giant. In this article, we will review Expert Option and evaluate its strengths and weaknesses based on these factors. By the end of this article, you’ll be armed with the knowledge to determine if Expert Option is the right choice for your financial endeavors.

Summary

Expert Option

Established in 2014, Expert Option is an online trading platform that opens the gateway to a myriad of financial instruments, from currency pairs to stocks and more. Expert Option offers a tiered account system, spanning from Basic to Exclusive, where your investment size dictates your privileges. Expert Option equips you with potent analytical tools, an intuitive interface, and a portfolio of 100+ sought-after assets spanning stocks to indices. Whether you prefer technical analysis or news-driven trading, this platform has you covered, and the best part? No commission fees weigh you down.

However, the regulatory landscape raises eyebrows, as Expert Option falls under the oversight of the Financial Services Authority of St. Vincent and the Grenadines (SVGFSA), not quite a tier-1 regulatory body. The platform touts reliability and trustworthiness, but there are shadows lurking in the corners. Keep in mind that Expert Option isn’t available to residents of several countries, including Australia, Canada, the EU Member States, the UK, the USA, and more, as specified in their terms and conditions. Stick around as we explore both the glimmers and shadows of Expert Option in the sections to come.

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Regulation

While the Expert Option’s regulatory umbrella falls under the Financial Services Authority of St. Vincent and the Grenadines (SVGFSA), it’s essential to note that SVGFSA doesn’t hold the prestigious tier-1 status often associated with top-tier regulatory bodies. However, Expert Option has taken steps to bolster its credibility. The platform has made a commitment to uphold impeccable standards by becoming a registered Member of The Financial Commission, a distinguished organization specializing in financial market dispute resolution and self-regulation.

What’s more, Expert Option has demonstrated execution quality by successfully passing the scrutiny of VerifyMyTrade, an auditing partner of The Financial Commission, which reviewed 5,000 order executions. Additionally, Expert Option provides a measure of client protection through The Compensation Fund, offering coverage of up to €20,000 per client in case a Member refuses to comply with a judgment issued by The Financial Commission.

While these efforts reflect a commitment to transparency and accountability, it’s prudent to exercise caution and conduct thorough due diligence when considering your involvement with Expert Option, especially given the SVGFSA’s regulatory standing.

Platforms & Tools

Expert Option offers a rich tapestry of platforms and tools, tailored to meet the diverse needs of its clients in the realm of online trading. It provides an array of flexible options for traders to access its platform. First and foremost, trading via their website is a seamless experience, accessible through any web browser.

Expert Option platform

This means you can initiate and manage your trades with ease using your preferred internet browser on virtually any device. For those who prefer the convenience of trading on the go, Expert Option offers dedicated trading apps designed for Android, iOS, Windows, and MacOS. This means you can transform your mobile device or computer into a powerful trading station, enabling you to stay connected to the markets no matter where you are.

Moreover, Expert Option goes the extra mile by providing web and mobile web versions of their platform. These versions are compatible with a wide range of devices, ensuring accessibility for traders using smartphones, tablets, or any other internet-enabled devices. Expert Option also offers various tools to help their clients make informed decisions. Such tools are:

• Technical Analytical Tools: These tools are designed to assist traders in analyzing historical price data and identifying potential future market trends. Technical analysis involves studying charts, patterns, and indicators to make predictions about price movements.
• Real-time Market Data: Real-time market data provides traders with up-to-the-minute information about the financial markets. This data includes live price quotes, order book information, trade volume, and other relevant metrics. Traders rely on real-time data to make timely decisions, execute trades, and monitor market conditions as they unfold.
• News Trading: Expert Option’s news trading feature likely provides access to news feeds and economic calendars, allowing traders to stay informed about important announcements such as economic indicators, earnings reports, and geopolitical developments. Traders can adjust their strategies based on the impact of these events on the markets.
• Social Trading: Users can access the live trades of other traders on the social trading platform, including their entry and exit points. This allows less experienced traders to learn from and potentially mimic the actions of more skilled traders, facilitating a collaborative and educational trading environment.
• Demo Trading: Before diving into the real action, sharpen your trading skills and test strategies risk-free through Expert Option’s demo trading platform, where you can gain invaluable experience without risking your capital.

Education

Expert Option offers a wealth of educational materials and resources designed to help clients enhance their trading skills. Within the education section on their website, you can explore the following content:

• Tutorials: Expert Option offers a collection of concise and informative video tutorials. These videos cover a range of fundamental trading topics, including how to execute trades effectively, how to utilize technical indicators, how to analyze market conditions, and even guidance on managing emotions while trading. These tutorials are designed to provide traders with a solid foundation in the basics of trading.
• Glossary: In the Glossary section, traders can access explanations of essential trading terms and concepts. This resource is particularly valuable for those new to the world of trading, as it clarifies terms such as assets (the instruments being traded), leverage (borrowed capital for trading), spread (the difference between buy and sell prices), margin (the amount required to open a position), and more. It serves as a reference guide for traders seeking to understand the terminology used in the trading industry.
• Psychology of Trading: Expert Option delves into the psychological aspects of trading. This educational content helps traders comprehend critical factors like risk management (strategies to protect investments), discipline (maintaining a consistent trading approach), and patience (avoiding impulsive decisions). Understanding the psychological challenges of trading can be instrumental in making rational and controlled trading decisions.
• Webinars: Expert Option hosts live webinars conducted by experienced traders. These webinars provide an opportunity for traders to gain insights from professionals in the field. While these sessions can be informative, it’s important to approach them with realistic expectations, as the quality of the information may vary. Webinars can offer valuable perspectives but should be supplemented with your research and analysis.
• Graphical Analysis: The platform equips traders with graphical tools to enhance their technical analysis. These tools allow traders to draw lines, shapes, patterns, and indicators directly on price charts. This feature assists traders in identifying trends and potential entry or exit points. However, it’s crucial to remember that technical analysis requires skill and interpretation, and using these tools effectively may take practice.
• Fundamental Analysis: Expert Option provides resources for fundamental analysis, which involves examining economic data, news, reports, and events that influence market movements. This content can help traders understand the broader market forces at play. Keep in mind that interpreting economic data and news events can be complex, and successful fundamental analysis requires a deep understanding of the factors involved.
• Technical Analysis: The platform supports technical analysis by offering tools that apply mathematical formulas and algorithms to price movements and indicators. These tools are intended to aid traders in predicting potential future trends and signals. However, it’s important to approach technical analysis with caution, as it’s not a guaranteed method for predicting market outcomes and requires ongoing practice and refinement.
• Trading Strategies: Expert Option encourages traders to create trading strategies by combining various tools and analysis methods. Developing a consistent and profitable trading plan is essential for long-term success in trading. However, it’s crucial to remember that crafting effective strategies requires a deep understanding of market dynamics, risk management, and continuous evaluation and adjustment.

Expert Option asserts that its educational materials cater to both beginners and experienced traders. However, it’s essential to note that these resources may not cover all aspects of trading and may not always reflect industry best practices.

Markets

Expert Option caters to traders with a vast selection of markets, providing an extensive array of over 100 trading assets that span diverse categories. Whether you’re an aficionado of currency pairs, stocks, commodities, or indices, Expert Option has you covered. In the realm of currency pairs, you’ll find the ever-popular and highly liquid options like EUR/USD, GBP/USD, and USD/JPY, ideal for those seeking stability. On the commodities front, precious metals like gold and silver shine alongside the allure of oil. And for stock enthusiasts, icons like Apple, Google, and Facebook beckon with their potential.

What sets Expert Option apart is its inclusion of exotic and niche assets, adding an extra layer of excitement and opportunity for traders. Enter the world of cryptocurrency with Bitcoin, Ethereum, Litecoin, Monero, Dash, Zcash, and more, where volatility meets innovation. This expansive offering ensures that regardless of your trading preferences or risk appetite, Expert Option opens doors to a dynamic and multifaceted trading experience that can accommodate both the seasoned trader and the curious novice.

Accounts

Expert Option offers six types of accounts for its clients to trade online. Each account type has different benefits and requirements, depending on the size of your investment. Here is a brief overview of the accounts:

• Micro: This is the smallest account type that requires a minimum deposit of $10. You can access the education section, trade with a maximum deal amount of $10, and withdraw your funds within 3 working days. You can also get a 25% bonus on your first deposit.
• Basic: This is the next-level account type that requires a minimum deposit of $50. You can access the education section, trade with a maximum deal amount of $25, and withdraw your funds within 3 working days. You can also get a personal manager and a 50% bonus on your first deposit.
• Silver: This account type requires a minimum deposit of $500. You can access the education section, trade with a maximum deal amount of $250, and withdraw your funds within 24 hours. You can also get a personal manager, a 100% bonus on your first deposit, and priority withdrawal processing.
• Gold: This is the most popular account type that requires a minimum deposit of $2,500. You can access the education section, trade with a maximum deal amount of $1,000, and withdraw your funds within 24 hours. You can also get a personal manager, a 150% bonus on your first deposit, priority withdrawal processing, and increased profitability rates.
• Platinum: This is the premium account type that requires a minimum deposit of $5,000. You can access the education section, trade with a maximum deal amount of $2,000, and withdraw your funds within 24 hours. You can also get a personal manager, a 200% bonus on your first deposit, priority withdrawal processing, increased profitability rates, and access to exclusive strategies.
• Exclusive: This is the most exclusive account type that requires an invitation from Expert Option. You can access the education section, trade with no limit on the deal amount, and withdraw your funds within 24 hours. You can also get a personal manager, an individual offer on your first deposit, priority withdrawal processing, increased profitability rates, access to exclusive strategies, and invitations to special events.

Expert Option claims that its accounts are designed to suit the needs and preferences of different traders.

Funding

Expert Option offers various methods of funding for its clients to deposit and withdraw their funds. You can choose from a wide range of payment options, such as bank cards, e-wallets, cryptocurrencies, and local payment systems. Some of the payment options available on Expert Option are:

• Bank cards: You can use Visa or Mastercard to fund your account or withdraw your profits. The minimum deposit amount is $10 and the maximum is $10,000. The processing time is instant for deposits and up to 3 working days for withdrawals. There are no fees for deposits or withdrawals.
• E-wallets: You can use various e-wallets, such as Skrill, Neteller, Perfect Money, WebMoney, FasaPay, and more to fund your account or withdraw your profits. The minimum deposit amount is $10 and the maximum is $10,000. The processing time is instant for deposits and up to 3 working days for withdrawals. There are no fees for deposits or withdrawals.
• Cryptocurrencies: You can use various cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, Monero, Dash, Zcash, and more to fund your account or withdraw your profits. The minimum deposit amount is $10 and the maximum is $10,000. The processing time is instant for deposits and up to 3 working days for withdrawals. There are no fees for deposits or withdrawals.
• Local payment systems: You can use various local payment systems, such as PayTM, Globe GCash, and Flutterwave among others to make deposits or withdrawals.

Conclusion

In conclusion, Expert Option stands as a versatile and accessible online trading platform, brimming with a diverse range of financial instruments, extensive account options, and an array of funding methods. It caters to traders of varying experience levels and financial backgrounds, offering a plethora of benefits and opportunities. However, it’s worth noting that while Expert Option offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading broker reviews.

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Expert Option is an online trading platform that offers various financial instruments, such as currency pairs, stocks, commodities, and indices. However, Expert Option is regulated by a non-tier-1 regulatory body.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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