ExpertOption Broker Review and Trader Feedback 2019

5.0 / 5
5

ExpertOption has emerged as one of the markets leading brokerages in recent years, establishing a dedicated following of traders worldwide. The company has continually sought to improve their offerings with innovative features that prioritise the needs of traders.

General Information

Established in 2014 ExpertOption has steadily grown to become the broker of choice for newcomers and trading veterans alike. It’s no secret that trading can be fraught with numerous challenges, particularly when deciding which broker best suits your trading needs. Usually it’s a matter of personal preference, but in some instances as with ExpertOption, they provide services which go above and beyond expectations.

Of course, for many the true test of any broker is first-hand experience, which is the best way to determine whether or not a broker is a good match. Fortunately, we’ve taken the time to perform an in-depth analysis of ExpertOption so you don’t have to.

Throughout this review we’ll highlight the pros and cons of the platform and answer the questions most frequently posed by users, these include:

  • How to open an account with ExpertOption?
  • How to make a deposit or withdrawal request?
  • What are the platforms key features?
  • What are strike rates?
  • Can I cancel a deal?
  • How to copy other traders’ deals?

By the end of this review, you’ll be able to make up your own mind on ExpertOption with full knowledge of the platform and the companies services.

Key Statistics

Having begun operations in 2014, progress has been swift for ExpertOption – the company now boasts close to 25 million registered traders from more than 150 countries, and provide their platform in 14 languages. Most importantly, more than 20 payment systems have been integrated, allowing for easy and convenient deposits no matter where in the world you are.

Here are some statistics we found to be most impressive:

  • 30,000 daily users
  • $14.9 million withdrawn in September 2019
  • Noticeable increases in rate of return over a monthly period.
  • More than 28 million deals opened in a month on average.

Advantages and Disadvantages

Just what are the advantages and disadvantages of a trading platform like ExpertOption? Through extensive research we’ve compiled a list of some of the most praised and critiqued aspects of the broker.

Advantages:

Free $10,000 Demo: This key feature is easy to heap praise upon and is definitely a tick in the box for traders of all experience levels. Unlike other brokers, ExpertOption provides access to their free demo in a single click at any time, without the need for registration – This useful tool is by far and away one of the most useful for learning and implementing new trading strategies.

Low Minimum Deposit: Unlike many brokers, ExpertOption understand that not all users are able to make huge financial commitments, despite their desire to trade – by ensuring a minimum deposit of just $10 users of all walks of life are able to participate, and are further assisted by minimum $1 deal amount.

Social Trading: We really can’t sing the praises of social trading enough, it provides the opportunity to follow and copy the deals of top traders, the benefits of which are fairly self-explanatory.

Instant Withdrawal: ExpertOption features some of the fastest withdrawal times on the market, the minimum withdrawal amount is only $10 and dependent on your preferred method can be instant, for example with Cryptocurrencies or Electronic Wallets such as; Skrill, WebMoney, Neteller, E-Payments and many more.

Access to Extensive Educational Materials: For many trading is a learning process which never ends, thankfully ExpertOption provides in-depth educational materials off the bat – this includes everything from written materials providing explanations of indicators and chart types, to full video tutorials on ‘how to trade’ and much more.

Customizable Strike Rates: This allows traders to take more control over their trading experience, providing the ability to adjust the risk for each deal.

24/7 Customer Support: Not to be taken for granted, the 24/7 support services go a long way in providing traders with the support they need at any time, the live chat is particularly responsive and we found ourselves never having to wait more than a few seconds to connect with a company representative.

User Friendly Interface: ExpertOption is definitely easy on the eye, the design scheme makes the platform easy to navigate whilst the UI is smooth and responsive.

Frequent Market Updates: Market updates are super important when trying to keep on top of the latest price movements, ExpertOption provides regular updates which help traders to identity key fundamentals.

Disadvantages:

Do not provide services to U.S. Citizens: One of the few disadvantages we could identify with the platform were the limitations placed around the acceptance of U.S. citizens.

The Trading Platform

ExpertOption is available through browsers, desktop applications for Mac & Windows, in addition to iOS and Android devices, meaning your account can be accessed through a variety of means for additional convenience.

Upon accessing your account for the first time you’ll be introduced to the platform with a video tutorial explaining how to trade on the ExpertOption platform. This will help guide users through the initial steps, including how to select an asset, a closing time, setting up the chart with preferred indicators / signals, and also how to open a deal with strike rates.

A majority of the platforms key features are accessible from the main chart allowing traders to fully customize their experience from the outset. Further features are found in the tab on the left of the platform, this includes educational materials, analytics, the trade journal as well as the deposit and withdraw pages.

On the right of the platform data for the current trading session can be viewed, specifically data related to market sentiment and performance of other traders, this section also allows traders to view their open deals and to ‘cancel’ anytime if necessary.

Assets

ExpertOption features more than 100 of the most in-demand assets, these range from well-known stocks, such as Google or Apple, to currency pairs, cryptocurrencies and even popular commodities such as Gold.

How to Trade

Initially it is recommended that users study the educational materials and make use of the demo before they make any sort of commitment. The first step for any trader should be to determine the asset they would like to use, before deciding the time period of the deal, which ranges from 1-5 minutes. Once this has been done and assuming the chart is set up in the desired way, it is time to choose an investment amount, and predict how the price will change over the set time (Up or Down).

Before deciding to make your prediction, ExpertOption provides strike rates, which gives traders the ability to manage the level of risk – higher risk means higher rewards, whilst lowering the risk means smaller earnings but less chance of loss.

Account Types

ExpertOption offers six different account types, each with their own individual benefits – the minimum deposit ranges from a minimum of $10 for Micro account, to $5000 for Platinum, with the most obvious benefits being increased profit % and priority withdrawal for the higher account types. However, most traders choose to begin with Silver, which provides a perfect balance. It’s also important to remember that each deposit counts towards increasing the account type.

Opening an Account

To open an account, there are options to either sign up using your Google or Facebook accounts, or alternatively with an email address. Having done so you will be required to confirm your phone number and email before trading can commence.

We noticed that ExpertOption has particularly strict security protocols in place, which increases peace of mind when trading – there is nothing worse than constantly worrying about the security of your funds and investments.

Deposits and Withdrawals

Once you’ve opened a real account, if you wish to trade, you’ll be prompted to make a deposit, this can be done via the blue deposit button at the top of your screen or from the finances tab on the left of the platform, this section also contains the withdrawal page.

The next step of the deposit process will present traders with a new page where they must select the deposit amount and desired payment method.

The options available depend on which region each trader is located in. However, regardless which method is selected, users must agree to the terms and conditions before proceeding to enter their payment details.

Deposits can be made using well known credit/debit cards, numerous e-wallets, wire transfer and even cryptocurrencies like Bitcoin – the chosen method has an impact on the verification and withdrawal process, which is important to remember.

Withdrawals on ExpertOption are streamlined to make the process as fast as possible, traders are required to withdraw the amount deposited back to the same method. On average requests are processed within 2 full business days, although, depending on withdrawal method and account type, the process can be instant.

Having spoken with ExpertOption traders on forums and through their considerably active social media, it appears that particularly satisfied are those, who choose the fastest methods of withdrawal like e-wallets and cryptocurrency.

Should I trade with ExpertOption?

In short, yes. If you are looking for a reliable platform packed full of features then ExpertOption is for you. The development of the company since 2014 has been nothing short of astonishing, as they continue to innovate and remain well ahead of the curve, whether it is through the introduction of cryptocurrencies, more deposit and withdrawal methods or the unrivalled 24/7 support ExpertOption is certainly pushing the boundaries to ensure the fastest and most convenient trading experience on the market.

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