A large number of traders have joined the binary options trading market fray due to its increasing popularity. This has resulted in the creation of a big pool of binary option robots with the aim at tapping into this expanding market base. Most traders are grappling with the idea of which, among these robots are best to trade with. Many program developers associated with binary options robots and signal providers are hugely motivated by the profits to be acquired in this type of trade. This fact alone has resulted in the presence of different types of programs that have flooded the market giving leeway to imitations and scams that want to get the most of hapless traders.
Any trader in the binary options kind of trading should be aware of this and try as much as possible to invest in a little bit of knowledge lest s/he falls into the trap of unscrupulous traders whose main aim is to exploit the ignorant. This review of ExpertOption will give us a peek on how to choose the best option in terms of robots and brokers.
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This broker is a relatively new entrant in the binary options trade and it is owned by Expert options limited located in St Vincent and the Grenadines. They have a trading platform that is simple and easy to use. Their trading assets include most Forex Pairs, Market Indices like S&P500 and Oil. They offer competitive payouts on various options with a record breaking time duration of 5 minutes. One can also select a time frame of between 60 seconds and 5 minute expiration. Longer time frames are expected to be in effect soon. This broker is widely recognized in Russia because they are licensed by CROFR (Financial Market Relations Regulation Center). Their website is in the Russian and English languages. This broker was established in 2015 and it is a relatively new entrant in the binary options trading scene. The site has popularity in Russia and features other languages like English, German, Italian, Spanish, Portuguese and Hindi languages. The broker has taken advantage of their trading platform to meet the needs of binary option traders.
What does ExpertOption have to offer?
ExpertOption trading software – This is a software that is wholly developed and used by ExpertOptions and it is exclusive to this broker. Most brokers use platforms from other service providers but that is not the case with ExpertOption which uses its very own. This is their proprietary software with a simple interface that is easy to use for both new and experienced traders. It consists of some features which allow traders to perform technical aspects of the trade that are necessary in maximizing their profits and at the same time executing their transactions promptly.
Educational materials – The site has very useful and informative materials in the education section that actually helps newbies to come to terms with the operations of the binary options trade. It not only offers strategic advice about this trade but also provides a glossary of terms and analytical information that are relevant to any eager trader.
Mobile trading platform – ExpertOption takes care of all types of traders including those who are on the go by providing an efficient mobile service for all its customers. This mobile platform is available in the app format and can be downloaded through Google Play and Apple Stores. It is very suitable for those traders who are on the move and would wish to check on their assets anytime they wish to.
Assets – They have quite a number of trading assets that range from Market Indices, Forex Pairs, Commodities, Gold and Oil. Their Market Indices feature very popular and widely reputable firms like S&P500.
Continuous stream of trading signals – The ExpertOption platform has a great feature when it comes to streaming of trading signals. It has a continuous stream of trading signals and alerts. These signals encompass all their assets and include the Neutral or Sell and strong Sell and the Strong Buy signals. These signals are important in the binary options trade and it is crucial to understand what they are based on and this call for a demo.
ExpertOptions Account Features
ExpertOption offers a variety of trading accounts that meets the needs of different types of traders. These accounts include:
Mini account – It is a basic account that can be opened with a deposit of only 50 dollars. It has a maximum number of 10 open deals with a maximum of 20 dollars per deal. It also offers educational training materials related to the binary options trade and also incorporates a 50% bonus.
Silver account – This account is for the more experienced traders and can be opened with a deposit amount of 250 dollars. It features bonuses which can be as high as 75%.
Gold account – This account can be opened with an initial deposit of 1000 dollars and has very attractive benefits like priority withdrawals, increasing asset profits and personal consultation with a leading trading partner.
VIP account – This is a top level account that takes up all the features of the gold account and also includes an analysis of the trader’s individual history. It has bonuses that go as high as 125% and is especially beneficial for experienced traders. A demo account is also available for free and is useful in familiarizing one about the site and its operations.
Traders wishing to open an account with ExpertOption have a wide range of options including the most traditional to the more contemporary e-Wallets banking methods. The minimum deposit amount is just 10 dollars and this makes the site a simple and easily accessible one. This amount is the lowest in the industry and is a good motivating factor to new traders who would wish to gain trading experience. ExpertOption has a very quick and efficient withdrawal and deposit system which guarantees short turnaround times with a good customer support facility. All traders’ funds are held in European banks that are secure and which enable traders to have a peace of mind when trading.
ExpertOptions, just like any binary options broker, lets traders make deposits by using the standard methods of payments which consist the use of credit cards. Among the most popular credit cards that are accepted here include Visa, Maestro, MasterCard, and American Express among others. Deposits by wire transfer and other e-Wallet methods are also accepted. Safepay and Skrill are also available to any potential trader in this trading platform.
ExpertOption offers a professional platform for trading which offers really easy and simple earnings in binary options type of trading. They offer many tools for trading that features the most perfect conditions for trading in the industry. Each and every trade is watched in real time by experienced trade experts. ExpertOption also provides the best and fastest withdrawal features in the industry in which money is able to reach your e-Wallet or your card in the shortest time possible. The transactions are commission free and involve a wide range of payment methods apart from those mentioned above.
ExpertOption Promises vs. Reality
Like any other broker, ExpertOption use marketing strategies to entice traders to their binary options trading platform by using attractive sales language. However, when one closely checks the site the story is entirely different because some traders feel that the site is not genuine. This is because the site is not that transparent and does not provide the much needed information to the trader. Finding helpful information about the site is challenging thus making it opaque and one that does not satisfy the needs of its customers. This scenario makes it very difficult for any trader to trust it.
The site also features a demo account that is supposed to allow a trader to learn more about the binary options trade but the transition to the main account is a big problem because it directs one to the trading area. The profits one is supposed to get in a demo account are highly exaggerated and this makes the site to appear unreliable because it promises high returns which are not possible in a live trading session. The demo account is therefore viewed as an enticing one rather than one that is honest in trading.
When it comes to bonuses and promotions one expects that the site will provide clear guidelines on how the features will be rolled out. The promise of fast withdrawals of the said bonuses stares any other trader on the face because when you check the terms and conditions relating to bonus withdrawals you find that it is not that easy to retrieve your withdrawals once you make your initial deposit because the bonuses are usually tied up with the withdrawal process which is rigorous and discouraging.
Shortcomings of ExpertOption
This broker is a relatively new entrant in the industry and this makes it a big problem for many traders especially when it comes to confidence issues. Among its greatest shortcomings are the following features which are so profound and need to be improved upon.
Withdrawals and deposits – ExpertOption has transparency issues when it comes to deposits and withdrawals because it does not set out clear guidelines on how these can be transacted. Many traders find this to be a big challenge because it does not give them room to make informed decisions. This has resulted to several complaints by traders. ExpertOption just bought a set up website that has never been customized to the traders’ requirements. This makes it just a site that is not in touch with the needs of its customers.
Customer support – Information on how to communicate with customer support is scanty and this leaves most traders at crossroads because some of them cannot invest in a trading platform that seems not to have a customer care representative. It is so disheartening to find that most of the times the language of choice is only in Russian. This seems like an isolationist policy to majority of traders who come from other countries across the globe. This is why the site has a very small customer base.
License and regulations – ExpertOption brokers are not licensed by any Licensing agency with authority of repute and one that is trusted by many investors like CySEC. The licensing authority in the name of CROFR is locally based and this makes ExpertOption to have confidence issues with traders who are willing to trade on its platform. They view it as a local broker that is not compliant with international standards and most of them would rather trade with other well known binary options brokers. Most traders recognize brokers who have a CySEC certification and ExpertOption is not one of them.
Withdrawal policy – As stated earlier, their withdrawal policy is their main undoing since it is shrouded in secrecy and oblique and this makes most traders to shy away from it because they are unable to make informed investment decisions in such a situation.
FAQ on Expert Options
This article provides answers to the most frequently asked questions about the expert options. The FAQ deals with the various topics ranging from promoters to the customer support.
What are the available withdrawal & deposit methods?
The expert options allow you to withdraw or deposit funds through credit or debit cards (Visa, MasterCard, Maestro), UnionPay, Skrill, Neteller, Payweb, PerfectMoney, Qiwi, Yandex Money, and Webmoney.
Who are the promoter and its registered address?
The ExpertOption Ltd is the promoter company located at Saint Vincent & the Grenadines, 1510, Kingstown, Suite 305, Griffith Corporate Centre with registration number 22863 IBC 2015).
Is it a licensed broker and who is the licensing authority?
The brokerage company is registered with the self-regulatory body called FMRRC (Financial Market Relations Regulations Centre) and has received license No: TSRF RU 0395 Vv0099 which is valid until 8th September 2017.
The company has also received a license to be dealers in securities from the Republic of Vanuatu on 6th January 2017 and valid till 5th January 2018 having license number 15014.
What is the platform used by the Expert Options?
The Expert Options utilizes the in-house developed platform to drive the trading the binary options.
Does Expert Options offer demo account?
Yes, the Expert Option offers one-click demo account which can be used without registering on the platform. The demo account provides $ 10,000 virtual currencies for testing the platform.
What are the assets available for trading?
The website provides more than 50 assets to trade under the four categories: stocks, indices, commodities, and currency pairs.
What is the overall expiry range?
The Expert Options provides expiries ranging from 60 seconds to 5 – minutes.
What are the minimum deposits and a minimum per trade amount requirements?
Being a retail friendly brokerage house, the Expert Options allows you to deposit a minimum of $ 10 and $ 1 as the per trade investment amount.
What is the minimum withdrawal amount?
The brokerage house allows its investor to withdraw a minimum of $ 10 through their preferred mode of payment.
What are the bonuses and benefits for the registered customers?
The Expert Options offers up to 100 percent on the initial deposit, while it offers the bonuses from 25 percent to 125 percent on the consequent deposits.
Besides the monetary benefits, the company offers several other benefits like a personal manager, priority withdrawal, trading analysis amongst others.
What are the several account types offered by the Expert Option?
The Expert Options offers four different account types based on the amount of deposit made. It offers a Mini Account type with a minimum deposit of $ 50, the Silver Account with a minimum deposit of $ 250, the Gold account on the deposit of $ 1,000, and the VIP account with $ 2,500 minimum deposit which offers entire bouquet of exclusive benefits.
What is the Return on Investment per trade?
The Expert Options provides up to 95 percent payouts on winning trades. Meaning, on an investment of $ 100 per trade, the winning trade will get you up to $ 95 profits.
How can you connect with the customer support of the Expert Option?
The Expert Option provides its customer support services through many channels including web forms, online chat, e-mail, and phone.
The following table lists all the customer care numbers and their respective e-mail addresses.
Questions Before Making The Selection of The Binary Broker
The binary trading has come a long way and has been flooding with many players. These brokerage houses or the websites offers the same thing but with some distinct benefits to differentiate themselves. Though every binary brokerage site looks the same, there are some key parameters which one must consider while making the selection.
Our endeavor here is to provide you the list of questions which should form the basis of your ultimate selection. Though the list is not an exhaustive one, it definitely provides the fair idea on each of the key selection parameters and why that parameter is important in the selection process.
Who Is Behind The Brokerage Site?
The first and foremost thing before making the selection is to try and answer the above question with as much information as possible. The question is very relevant as the answer to the above question will throw more light on the hidden agenda if any. The hiding promoters should always be avoided.
What Drives The Website?
The answer to the above question will provide information regarding the platform which is being used by the website. It should also inform you about the aesthetics of the website and the platform itself. The unprofessional or hard-to-learn platform should be given fewer marks compared to the highly professional and user-friendly trading platform.
Does It Offer a Demo Account To Test Your Strategies?
This makes a lot of sense for beginners as well as for the professional trader, as it allows them to test the platform and its usability beforehand. This way the traders can rest assured that whenever he starts using the platform the trading experience will be smooth and comforting.
What Are The Available Tools for The Trading
Trading is an art and requires a thorough understanding of the fundamental analysis and the technical analysis. The traders in the binary arena utilize several tools and technical indicators to place their trades. The answer to the above question provides detailed information regarding the available tools for charting, availability of technical indicators, and availability of signals to trade.
What Is The Extra Features
The question pertains to the available bonuses of various types including deposit, re-deposit, and/or volume basis bonuses. These bonuses provide an additional amount for the trading and increase your chances of winnings. Though higher bonuses are welcome, low bonuses do not mean bad offerings. You should try to assess the offerings in the totality rather than evaluating the broker only on the basis of the bonuses.
What Is the Return on Investment?
As a trader, the trading is being carried out to earn money and hence this parameter is of prime importance. The answer to the above question will give you an idea about how much money you can make by investing $ 100 in a security. The payouts offered by the various broker is an important parameter which forms the basis for the Return On Investment. Higher payouts are welcome but need to scan the broker holistically rather than evaluating only on one single parameter.
How Do Your Finances Are Being Handled?
The deposit and the withdrawal process followed by the brokerage website give you an idea on how can you make the deposit and whether the available banking options suits you’re not. Your selection should be based on your preferred finance handling method.
What Can You Trade and How?
The available trading choices of assets and option types form the basis to answer the above question. The range of assets (forex pairs, commodities, stocks, and indices) and the number of assets should meet your requirements. Also, the expiry ranges available (60-seconds to 6-months) should be evaluated before enrolling in the website. This is a key question as the non-availability of your choice of asset and expiry range should definitely be avoided.
Do They Answer to All Your Questions?
The answer to the above question will provide information regarding the customer support offered by the brokerage house. The robust customer support will assist you on all walk of the trading as well as ongoing support for the future queries you may have. The availability of local phone or local language is the most preferred though not an essential requirement. You should assess the customer support on the basis of your preferred way of communication.
All the above question should be asked while evaluating the brokerage site. Though the list is not an exhaustive one, the above are the minimum question which one should ask while conducting the assessment. The above questions will help you assess the brokerage house better and should also help you not to fall prey to the scam artists. We would also recommend you to read our review on various brokerage houses to get an unbiased view of the services rendered by these operators.
It is expected that brokers in this kind of trade to have shortcomings as none of these brokers have the capacity to put up a perfectly error free outfit. But when the weak points outweigh the strong points by far then there is reason to raise the red flag. When one critically looks at ExpertOption it is very difficult to draw conclusions. This is not a good sign because a good site is supposed to make an instant impact to any new trader but that is not the case with ExpertOption which has some glaring confidence issues. Their trading platform features a robot software that is largely unknown and one that has not been extensively tested.
It is in this regard that one has to turn to the most popular and widely used software in the industry. The Binary Option Robot software is the most trusted and widely used software in the industry and one that guarantees a trader’s security and safety in terms of their investments and also peace of mind. This robot has received very many positive reviews from experienced as well as novice traders who have placed trust in its capabilities. It is very easy to sign up to the Binary Option Robot because it is free of any charges. It has the capability of providing any willing trader with benefits which are way beyond any other software in the market especially when it comes to limiting your losses on a day on day basis. With its Automatic Stop Loss program, you can never go wrong on any investment decision made. It also give you the chance to choose your own experienced broker among a wide selection of reputable brokers who have passed the rigorous Binary Option Robot’s most respected tests.
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Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.
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