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ExpertOption Review - is it scam or safe?

ExpertOption Review - is expertoption.com scam or good binary options broker?

RATING: 1.5 / 0 REVIEWS
ExpertOption is not regulated. We cannot guarantee your money is safe.

Basic Information

 

Minimum deposit Min./ Max. bet size Payout % Platform Regulation

$50

$1 / $1,000 Up to 87% Proprietary FMRRC

 

ExpertOption is a binary options broker, which is also launching an ICO. The Eo.Trade ecosystem, which they plan to create is covered in this post. This review, will focus on the current state of their existing offer. The conditions are basically as listed above and while this is one of the few company in the world of Binary options to offer a demo account, they also aren’t regulated with a very reputable agency. Read the full review to get the details.

 

Trading Accounts

 

Account Type Minimum Deposit Max. number of deals at the same time Increased profit percentage
Basic $50 10 -
Silver $500 15 -
Gold $2,500 30 Up to 2%
Platinum $5,000 No Limit Up to 4%
Exclusive Invitation only No Limit Up to 6%

 

The different account types at ExpertOption also provide non-trading benefits, such as an account manager, priority withdrawals and so on. The increases in payout percentages are rather marginal and only come for the big traders.

 

The Company. Security of Funds

 

Company Country Regulation
EXPERTOPTION LTD Saint Vincent and the Grenadines FMRRC

 

ExpertOption is owned and operated by EXPERTOPTION LTD, a company based in Saint Vincent and the Grenadines. Dealing with an offshore broker always carries some level of risk and the regulatory claims made by this one are very unusual.  When it comes to regulation, the front page of their website states they are overseen by the Vanuatu Financial Services Commission (VFSC). The geography nerds among you are probably surprised to read this, as the distance between the two island groups is rather vast. That being said, a quick check in the VFSC register doesn’t confirm ExpertOption to be a registered entity. There may have been a technical issue with the system during our research or the firm may simply be new and the list not updated, but at they aren’t registered at the time of writing. 

 

ExpertOption also claims to be registered with FMRRC, which isn’t exactly a watchdog. They are a non-profit organization, which imposes a certain code of conduct upon its members. Being part of such a group is better than nothing, but not the equivalent of real oversight – this isn’t a regulatory agency in the sense the UK’s FCA, or CySEC or even the VFSC are. All of these are government entities, backed by existing laws in their jurisdictions.

 

ExpertOption doesn't provide its services to citizens and residents of USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, North Korea, Puerto Rico and Sudan. This drastically limits their potential client base, but the decision is most likely due to the regulatory status we described above.

 

Trading Conditions

 

Trading Options: Binary (Call/Put)

Assets:  Currencies, Stocks, Cryptocurrencies, Commodities

Expiry Times: 1 min, 2 min

 

Minimum Initial Deposit

With a $50 deposit requirement, ExpertOption is among the companies accepting even the smallest of clients. Still, some companies go even lower, like the FCA-regulated forex and CFD broker IG, where there are no minimum barriers. Whatever you situation and experience may are, be sure to always only risk amounts you will be comfortable to loose.

 

Min. bet size

The $1 minimum deal size is one of the best sides of ExpertOption’s offer. Allowing traders to enter into smaller options will help them manage their risk. This level is basically the industry standard, as provided by many brokers, like Grand Capital.

 

Payout amount

Payout percentages varied drastically, while we were testing the ExpertOption platform. The highest ones for EUR/USD were around 87% at time, while the lower level was around 73%. We didn’t find any particular reason for the fluctuations, while there was some market volatility.

 

Trading Platform

 

The platform offered by ExpertOption feels very solid. The interface is clean, and the charting is crisp. It is very reminiscent to the proprietary packaged provided by another company in the field, though distinctly different. Here is a preview:

 

 

When it comes to the analytical capabilities, the charts can be altered to some degree. Candlesticks and a few technical indicators are available, but still this isn’t close to some of the forex platforms, like MetaTrader4.

 

Trading at ExpertOption can be done through the browser, a mobile app or a standalone desktop application. The latter is very rare when it comes to binary options.

 

Methods of Payment

 

Expert Options offers clients a lot of ways to deposit funds. They are: Credit/Debit Cards, Skrill, Neteller, WebMoney, Quiwi, Yandex, China Union Pay, WeeChat, Ali Pay and others. As you can see, a big emphasis is placed on the Chinese solutions, which is quite understandable, given how the company doesn’t accept customers from a lot of western countries.

 

Conclusion

 

ExpertOption is a binary options provider, with an interesting regulatory situation. The company claims to be under the umbrella of the Vanuatu Financial Services Commission, but we weren’t able to confirm this. The trading environment which they offer seems relatively fine, but a lot of countries aren’t supported. Here are the pros and cons of ExpertOption:

 

Pros Cons
Relatively nice proprietary platform Unverified VFSC regulation
Decent average payout Only short term options
Demo accounts available Max number of options is limited
A lot of payment methods  

 

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Traders` reviews for ExpertOption

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