This broker is focused on binary options and you can use their options to gain exposure to forex, cryptocurrency, commodities, stocks, and stock indices. We are a bit dissappointed that the forex section only includes half a dozen currency pairs.
Contracts for Difference (CFDs) are not available with this broker.
The minium deposit is $10 and the smallest trade is $1.
A plus with ExpertOption is that they accept a wide range of currencies as the account currency. This can be helpful to traders who wish to mitigate currency risk; especially traders whose home currency is not EUR/USD/GBP.
A negative aspect of ExpertOption is that some of the platform features only become available as you reach a high enough account level. Trade signals are for instance only available to Platinum Accounts and Exclusive Accounts. Large trades are not available to traders who have not deposited at least $2,500.
The welcome bonus is a 100% bonus on your first deposit.
Make sure you read and understand the fine print of the bonus conditions, because they are a bit different from the standard fare. In essence, the bonus money will show up in your account very quickly, but they can not actually be used for trading until you have used up your deposit. Also, you can never withdraw the bonus money (but you can withdraw profits generated by the bonus money).
What can I speculate on with this broker?
ExpertOption can be used to speculate on stocks, stock indices, commodities, forex, and cryptocurrency. Over one hundred different underlying assets and products are available. The largest category is the one for exchange-traded stocks. The forex section is pretty small and only contains six currency pairs, and when it comes to cryptocurrencies only three coins are available: BTC, BCH and ETH. Examples of available commodities are gold, silver and platinum.
About the binary options
- In addition to classic High/Low binary options, this broker also offers Boundary binary options.
- The minimum stake is just $1 per contract.
- The binary options with the highest payout pay 95%.
- Binary options can be purchased from 1 minute lifespan to 1 month lifespan. Exactly what is available will depend on the underlying asset. Really short-lived options are more common for forex and crypto, while the longest lifespans are more common for stocks.
- The forex spreads for GBP/USD, EUR/USD and EUR/GBP are $5 on any winning trades + 5% on payouts.
- The crypto spread is $5 on any winning trade.
The ExpertOption proprietary trading platform
ExpertOption has their own proprietary platform and will not give you access to any third-party platforms (e.g. MT4 or cTrader).
Short facts about the ExpertOption trading platform:
- It opens in the browser window. There is not software to download and install on your computer.
- Mobile apps are available for iOS and Android.
- The platform is uncluttered and easy to navigate, both on desktop computers and on small mobile touch-screens.
- The platform supports copy trading and social trading.
- Automated trading is available through ExpertBot.
- Trade signals are only available for Platinum Accounts and Exclusive Accounts.
- You can test-run the platform for free by opening a Demo Account. It comes filled with $10,000 in play-money that you can use to make play-money trades and see if you like the interface. You do not need to make any deposit to open a Demo Account with ExpertOption.
The ExpertOption trading platform includes a basic set of tools for technical analysis. It is definitely not as extensive as the features found on MetaTrader5 and similar platforms, but will do nicely for a beginner who is interested in dipping their toes into the field of technical analysis. The charts can be set-up in four different ways and give direct access to trading. You´ll find the order-tabs at the bottom of the screen. The platform comes with eight trading indicators.
There are several different accounts available here, arranged in a tiered system. Some of the platform features, such as trade signals, are only available at the higher tiers.
Ethical Investment Account: No
Islamic / Muslim / Halal / Sharia Account: No
Indian Demat Account: No
DMA Account: No
ECN Account: No
LAMM Account: No
MAM Account: No
PAMM Account: No
STP Account: No
Deposits and withdrawals
The smallest deposit is $10 and the smallest withdrawal is also $10.
ExpertOptions accepts various types of transaction methods, including certain e-wallets, debit/credit cards, wire transfers, and Bitcoin, so most people should be able to find a transaction method that suits them.
Examples of accepted cards: VISA, MasterCard, Maestro
Examples of accepted cryptocurrencies: Bitcoin
Examples of other accepted transaction methods: Neteller, Skrill, WebMoney, Perfect Money, FasaPay, QIWI, UnionPay, Yandex Money, Flutterwave, M-Pesa, Wire transfer
Ownership and regulation
- ExpertOption is operated by EOLabs LLC.
- EOLabs is a company registered in St. Vincent & the Grenadines, an island nation in the Caribbean. The governmental autority responsible for overseeing brokers in that country is the St Vincent & The Grenadines Financial Services Authority (SVGFSA).
- The company address is 305, Griffith Corporate Centre, Beachmont, 1510, Kingstown, St. Vincent & the Grenadines.
- St. Vincent & the Grenadines is not considered a strict authority when it comes to online brokers. They do for instance still permit the sale of binary options to retail traders and they do not require brokers to provide retail clients with Negative Account Balance Protection.
Common questions about ExpertOption
Are Contracts for Difference (CFDs) available?
Does this boker offer margin trading?
Yes. (You will not have any Negative Account Balance Protection.)
Is P2P trading available here?
Are trade signals available?
Yes, but only for Platinum Accounts and Exclusive Accounts.
Is VPS hosting available?
No, ExpertOption does not offer Virtual Private Server (VPS) hosting.