Expert Option review and ratings

COMPANY INFORMATION

Expert Option is a legally registered binary options broker located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC).

AVAILABILITY

Expert Option accepts clients from all over the world, excluding USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, North Korea, Puerto Rico, Sudan.

DISTINCTIVE FEATURES

• Simple registration and verification process.
• Various binary options available for trading.
• Own specific binary Social Trading Network.
• Cryptocurrency funding accepted.

TRADING INSTRUMENTS

Binary options broker offers the following underlying assets for trading.

COMPREHENSIVE REVIEW

Expert Option is a binary options broker set up in 2014 and registered in the popular offshore jurisdiction Vanuatu under the name EO Services Limited. The broker is regulated by the Vanuatu Financial Services Commission (VFSC) with license number 15014. Looking up the company in the VFSC’s database also confirms also confirms that the broker is properly registered as an International Company.

As its name implies, Expert Option is focused exclusively on offering binary options for trading, and does not offer traditional CFD & forex trading.

Likely as a result of the regulatory crackdown that has been seen in the binary options space over the past few years, Expert Option has a very strict policy in place regarding who gets to trade on its platform. According to the terms stated in its website, residents from a wide range of countries, including the US & Canada, the entire European Economic Area, Australia, and many others, are prohibited from trading.

For the traders that are welcome to trade on Expert Option, however, the broker offers binary trading based on a fairly limited selection of underlying assets. Among these assets are all major and some minor forex pairs, a pretty good selection of 16 popular cryptocurrencies, a handful of stocks of US-based companies, as well as gold, silver, and oil.

The trading platform offered by Expert Option is designed specifically for trading in binary options. Like most other binary platforms, it is web-based and has a simplistic feel to it.

The charts on Expert Option’s trading platform are intuitive and responsive, but unfortunately only comes with a very limited selection of technical analysis tools. As a result, Expert Option’s trading platform is probably best suited for new traders who simply want to give binary options trading a try before moving over to a more advanced provider of these exciting trading instruments.

The broker requires a minimum deposit of USD 50 to start trading, which is slightly more than most other brokers in the space. At the same time, however, traders who just want to test out the trading platform or practice their skills can do so with a free demo account that comes with USD 10,000 in virtual capital.

For the minimum deposit, new traders will automatically be assigned to the broker’s Basic account. Other account types includes the Silver, Gold, and Platinum accounts, which are available for deposits of $500, $2,500, and $5,000, respectively. The full list of benefits for each account type is available from the broker’s website.

All trading accounts can be funded with a variety of payment methods, including common credit & debit cards, many of the popular online money transfer services like Neteller and Skrill, as well as the Chinese payment methods UnionPay, WeChat Pay and AliPay. Keep in mind regarding withdrawals that the minimum withdrawal amount with Expert Option is $10.

An important thing to point out is that the broker states on its website that company representatives may ask for additional documentation before withdrawals can be processed. As always, it is highly advisable to contact the broker to find out exactly which documents will be required for this purpose, even before funds are deposited into the trading account. This way, any potential bad experiences and delayed withdrawals can be avoided.

Expert Option’s customer support is available in English 24 hours per day, 7 days per week. In addition, the broker offers an India-based support line for Hindi speakers that is open from 10.30 AM to 7.30 PM India time. Further, the broker’s support agents can be reached via email and live chat in the same two languages.

In conclusion, we believe Expert Option fulfills our expectations when it comes to basic binary options trading. We also appreciate the fact that the broker is regulated by a government agency, although it is in a traditional offshore jurisdiction. For new binary options traders, starting with a demo account before moving to a live trading account with Expert Option may be a good alternative.