A detailed analysis of the binary broker ExpertOption’s performance and a review of feedback.
Founded in 2014, the ExpertOption broker on its website states that it is one of the leaders in binary options trading. The company promises: reliability, simplicity, and the highest platform speed, and claims to have over 25 million active accounts. Every month, more than 30 million transactions are made on its platform. We decided to review ExpertOption and check how satisfied the broker’s clients are and what they write in their reviews.
Review of License Information
expertoption.com indicates that the broker’s regulator is the Vanuatu Financial Services Commission (VFSC), license No. 15014. The company (officially named EO SERVICES LIMITED) is registered in Vanuatu at the address – S.I.P. Building, P.O. Box 3010, Rue Pasteur, Port Vila. It also lists a British contact phone number +44 20 3868 3160, operating hours: 24/7, communication language – English. There is also a phone number in India 000 800 443 0002, communication in Hindi. We decided to verify if the company indeed has a license from the Vanuatu regulator:
The license exists. However, in the Terms and Conditions of the Partnership program, a different address is specified – Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown in Saint Vincent and the Grenadines. After opening an account on expertoption.com, an email is received from ExpertOption stating that the broker is regulated by a certain FMRRC (Financial Market Relations Regulation Center). However, we could not find evidence of this on the FMRRC website.
Review of the Official ExpertOption Website
The expertoption.com website is well-structured and modern-looking. You can choose from 15 languages, but the site is not fully translated. For example, the Terms and Conditions can only be read in English, and the Affiliate Program section is available only in Russian and English.
At the bottom of all pages of the site, there is a warning about the increased risks of trading binary options and that such activity is not suitable for everyone. It is emphasized that the trader must independently analyze market conditions and take responsibility for any potential losses. Having such a warning is a good practice for any respected financial intermediary.
ExpertOption’s Activity on Social Media
In today’s world, one of the signs of transparency for financial intermediaries is their presence on social media. At least, this is a common opinion among traders’ reviews. Broker ExpertOption has accounts on Twitter, Facebook, Instagram, and a YouTube channel. The Facebook account is quite active: frequent posts, many followers (over 460,000), and comments. By the way, there are often questions about binary options. Prompt responses are given to any trader questions, here is an example:
Registration and Verification
To create an account on the web platform expertoption.com, you need to fill out a registration form, provide a contact email, create a password, and agree to the broker’s terms of service. After that, a link will be sent to the email, clicking on which the user activates the personal account. Alternatively, you can log in through a Facebook or Google account.
We recommend reading the Terms of Service before clicking the Open button. Among other things, section 4.3.2 states that “ExpertOption has the right to suspend the provision of services at any time and without explanation.” Verification is not mandatory, but expertoption.com may ask for scanned copies of documents to confirm identity.
Trading Features Review
With the ExpertOption broker, you can trade over 100 assets, including binary options, shares of major companies, etc. An original trading platform is offered, and there are software versions for all mobile devices. Tabs include trading, finances, profile, analytics, education, and support. The first on the list – the main one – is where trading takes place.
The minimum size of one trade is $1. The expertoption.com platform offers the opportunity to participate in “social trading.” Users have the right to analyze trading strategies and trading details of successful traders, thereby improving their level and earning more money. It is also possible to trade binary options in demo mode.
Account Funding and Withdrawal Methods
After registration, you can fund your account starting from $10. With the initial deposit on expertoption.com, a one-time bonus is given, doubling the balance – after transferring $100 to the account, the balance will increase to $200.
There are many ways to fund or withdraw funds:
- Visa, MasterCard,
- cryptocurrency (Bitcoin, Ethereum, etc.),
- electronic payment systems: Webmoney, Yandex.Money,
- Neteller,
- Skrill,
- Perfect Money,
- Fasapay,
- Promsvyazbank,
- Alfa-Click.
Withdrawals can be made using the same methods. The minimum withdrawal amount is also $10. No commission is charged, and the operation is completed within 2 banking days. According to reviews, there are no issues with withdrawing funds, but sometimes customers overlook that weekends are not counted.
Account Types Review
Expertoption.com offers users the following types of trading accounts (minimum deposit is indicated after the comma):
- Micro, $10. For beginners,
- Basic, $50. For those with little trading experience,
- Silver, $500. The choice of the majority of traders. Free consultations are provided,
- Gold, $2500. For experienced traders,
- Platinum, $5000. For the most successful and professional traders. This account comes with a personal manager,
- Exclusive, minimum not disclosed. The account is available only by special invitation.
Owners of all types have access to educational materials on trading with the presented tools on the platform. Accounts also differ in characteristics such as the maximum amount per trade, withdrawal priority, etc. More detailed information is provided on the Account Types page.
ExpertOption Affiliate Program
The broker offers participation in the affiliate program. A detailed independent review of its features can be done by studying the information on the partner.expertoption.com page. The key conditions are as follows:
- 5% from the earnings of the referred new trader,
- “from 50% to 60% of the broker’s profit during activity” direct quote,
- payouts twice a month.
Review of Reviews
While studying the activities of the expertoption.com broker, we paid special attention to what users of the platform write in their reviews. As a result, we note that the overall picture is ambiguous, although there are clearly more positive reviews. Here is a good example of how conflicting reviews were found on one forum:
One thing is clear – the platform has many users, and their number, apparently, is not decreasing. This is an indirect sign that ExpertOption fulfills its obligations. However, it is not possible to claim this based on reviews 100%.
ExpertOption Review Result
Among the positive aspects identified during the review, the following can be highlighted:
- the broker offers a wide range of assets for trading – stocks, cryptocurrencies, etc.,
- good selection of withdrawal and deposit methods,
- low minimum deposit.
As for the negatives:
- ambiguous situation with the license,
- existence of negative reviews.
The only recommendation we can give at the end of the expertoption.com review and review analysis is to start with a minimum deposit and make your own conclusions about the feasibility of cooperation with the broker during trading.
Author: Andrey Melnik
Read also: Professional review of the fraudulent broker BinFin: real client reviews.