Expert Option (expertoption.com) is a binary options broker owned and operated by EXPERTOPTION LTD, a company based in Saint Vincent and the Grenadines. Dealing with an offshore broker always carries some level of risk and the regulatory claims made by this one are very unusual. When it comes to regulation, the front page of their website states they are overseen by the Vanuatu Financial Services Commission (VFSC). The geography nerds among you are probably surprised to read this, as the distance between the two island groups is rather vast. That being said, a quick check-in the VFSC register doesn’t confirm ExpertOption to be a registered entity. There may have been a technical issue with the system during our research or the firm may simply be new and the list not updated, but at they aren’t registered at the time of writing.
ExpertOption also claims to be registered with FMRRC, which isn’t exactly a watchdog. They are a non-profit organization, which imposes a certain code of conduct upon its members.
We have explained multiple times the risks involved in binary options. Regulators all around the world are baning Binary trading. The Fraudulent Binary Option goes under the loop of the police. Even the FBI has also appealed that binary options trading is very dangerous and classified as a new form of fraud.
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Expert Option Review
Many traders shop for an online broker to work with and find endless reviews on the web, and not all are genuine. There are lots of websites that specialize in broker reviews and lots of talk about brokers in various forums, social media channels, and groups. While some information comes from a real trading experience of people that have used brokers’ services, some have a hidden agenda of promoting the broker(s). Promoting a forex broker is a legitimate and normal practice, as long as it’s done in a transparent way.
As of today, there are very few websites with trusted brokers’ reviews. One of the most trusted is forexpiecearmy.com, due to its security level which filters fake reviews. Anyway, use your intuition when you read ExpertOption reviews.
Expert Option’s overall rating on the largest portal for broker reviews is very poor. What do ExpertOption’s disgruntled traders complain about?
Alleged spread manipulation is always an issue with online trading operations, as is the apparently unfounded denial of profits from traders. Most of the users are complaining expertoption is a scam.
Here are just 3 examples:
Is ExpertOption Scam or Trusted?
Expert Option is considered high-risk. Expert Option is not publicly traded and does not operate a bank. Expert Option is authorized by zero tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Be aware!
There are a lot of alerts on websites and forums warning about different frauds related to Expert Option. Indeed, the huge number of complaints and the lack of transparency regarding regulations, ownership, and trading conditions suggest Expert Option is a Scam.
How popular and successful ExpertOption is?
Our research shows that Expert Option is operating mainly in India, followed by Brazil, Turkey, and few other countries, where binary options have not been banned yet.
ExpertOption Trading Conditions
|Account Type||Minimum Deposit||Max. number of deals at the same time||Increased profit percentage|
|Gold||$2,500||30||Up to 2%|
|Platinum||$5,000||No Limit||Up to 4%|
|Exclusive||Invitation only||No Limit||Up to 6%|
- Trading Options: Binary (Call/Put)
- Assets: Currencies, Stocks, Cryptocurrencies, Commodities
- Expiry Times: 1 min, 2 min
Minimum Initial Deposit
With a $50 deposit requirement, ExpertOption is among the companies accepting even the smallest of clients. Still, some companies go even lower, where there are no minimum barriers. Whatever your situation and experience may are, be sure to always only risk amounts you will be comfortable losing.
Min. bet size
The $1 minimum deal size is one of the best sides of ExpertOption’s offer. Allowing traders to enter into smaller options will help them manage their risk. This level is basically the industry standard, as provided by many brokers.
Payout percentages varied drastically, while we were testing the ExpertOption platform. The highest ones for EUR/USD were around 87% on time, while the lower level was around 73%. We didn’t find any particular reason for the fluctuations, while there was some market volatility.
The platform offered by ExpertOption feels solid. The interface is clean, and the charting is crisp. It is very reminiscent to the proprietary packaged provided by another company in the field, though distinctly different. Here is a preview:
When it comes to analytical capabilities, the charts can be altered to some degree. Candlesticks and a few technical indicators are available, but still, this isn’t close to some of the forex platforms, like MetaTrader 4.
Trading at ExpertOption can be done through the browser, a mobile app, or a standalone desktop application. The latter is very rare when it comes to binary options.
Methods of Payment
Expert Options offers clients a lot of ways to deposit funds. They are Credit/Debit Cards, Skrill, Neteller, WebMoney, Quiwi, Yandex, China Union Pay, WeeChat, Ali Pay, and others. As you can see, a big emphasis is placed on Chinese solutions, which is quite understandable, given how the company doesn’t accept customers from a lot of western countries.
ExpertOption is a binary options provider, with a confusing regulatory situation. The company claims to be under the umbrella of the Vanuatu Financial Services Commission, but we weren’t able to confirm this. The trading environment which they offer seems relatively fine, but a lot of countries aren’t supported and there is a huge number of complaints that clearly indicates something is not right.