Expert Option Review: Scam or Trusted Broker

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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.

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:

Please BEWARE and do not deposit money in such online gambling platforms. You will not earn anything, but lose both TIME and MONEY.​


Please BEWARE and do not deposit money in such online gambling platforms. You will not earn anything, but lose both TIME and MONEY.
This is a first hand review of Expertoption, but I feel all other binary options are same. One thing I would like for you all to notice is that These Binary Options Platforms are basically online gambling platforms using the word options in a very loose sense.

A brief description on regulated options
there are 3 parties involved , Regulator, Exchange and Broker
option is derivative contract where an investor buys an option to buy / sell an asset which is traded on an Exchange after giving a premium.

1. The expiry of option is decided by the broker / option writer with approval from regulator, most commonly the expiry is 1 to 3 months for regulated options.
2. The option writer gives the investor different strike prices to chose from , again approved by the regulator.
3. The price of the underlying asset on which the derivative contract is entered is standard across all brokers of the Exchange.
comparision to recent gambling platforms using the word “options”

In the recent binary options scams [Expertoption, IQoption, irontrade] there is no Exchange, no Regulator and the underlying asset value is just calculated by the online platform. These companies are registered in countries with no regulators. they are not operating in countries like USA where they have to abide by regulator. tey operate in countries like india, indonesia etc… where legal frame has may loopholes, corruption and poverty lead to people depositing with them and looking to make a quick buck.
The actual names for these platforms should use the word “gambling” instead of “options”/ “trade”.

1. expiry of so called option is in minutes which is totally crazy, which means the full “so called premium” can be lost.
investor (gambler) does not have chance to exit out of the option.
2. there is not proper strike prices + premium combinations you can choose.
3. there is lock-in period where there could not be any trades for that asset.
4. price is not uniform and mapped to any exchange (glorifed term for this rigging is OTC)
This is most important aspect of the scam that in the lock-in period the platform can suddenly change the result in favour of themselves.

Tactics employed by these online options scam

1. the underlying asset value chart is fully controlled by them
2. they show fake trades on the platform
3. bonus on deposit which actually means restriction on withdrawal
all the above 3 tempt the users to deposit money wuth them and tempt into trades.
4. advertisements ,videos showing people winning a fortune in minutes.

After depositing money and loosing all in the rigged scam fake and rude customer support which does not reply specially expiry mentioned in expertoption is 15 mins, but no asset has a 15 min expiry, all are max 5 min expiry.
In Short Please BEWARE and do not deposit money in such online gambling platforms.
You will not earn anything, but lose both TIME and MONEY.

– hits123, India, Jan 13, 2019

Expertoption is a big fraud company


Expertoption.com is a big fraud. I request you to not waste your money. I have lost $5000 and recorded several videos in which one can watch cearly that how the software is cheating. I have recorded more than 25-30 videos. I am sharing these video on youtube and facebook. Please save your self and your beloved ones from their fraud.
Avoid this broker, it’s a pure scam for money launderers.

– dbasheraz, Pakistan, Pakistan, May 9, 2019

100% scam. stay away!


Hello, every one in the forums.

Just open a thread about an expierence with one scamming binary option broker, Expert Option. Be careful, highly warning—do not trade with them.
When customer win profit then withdraw, they refuse to pay (close your account and fool you with the contrived reason that you are against their terms and policy violation). Furthermore, Expert Option cut customer’s trading asset profit from 90% down to 40% around if customer continue winning.

more details see my report thread http://www.forexpeacearmy.com/community/threads/binary-option-broker-scam-alert-expert-option.51999/

– tianbaoxu, China

source: https://www.forexpeacearmy.com/forex-reviews/13150/expertoption-binary-brokers?page=1&per-page=10

source: forexpeacearmy.com

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.

expert option scam
source: forexpeacearmy.com
source: Ahrefs

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 Types

Account TypeMinimum DepositMax. number of deals at the same timeIncreased profit percentage
Basic$5010
Silver$50015
Gold$2,50030Up to 2%
Platinum$5,000No LimitUp to 4%
ExclusiveInvitation onlyNo LimitUp to 6%
source: expertoption.com
  • 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 amount

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.

Trading Platforms

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:

expert option mt4
source: expertoption.com

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.

Conclusions

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. 

REVIEW OVERVIEW
Regulation & Security
Deposit & Withdrawals
Platforms & Tools
Spread & Commissions
Range of Markets
Education
Customer Support
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Cristian Cochintu is a highly experienced trader, author, and analyst, currently Chief Operation Officer at Investing Magnates. Trading Style Analytical Profile: More Technical, Less Fundamental Time Frame: Long-Term (weeks to months) Type: Position Experience Started trading in Forex in 2004 and expanded to Stocks in 2007 Has worked with Admiral Markets since 2009 starting as a market analyst Has spoken at numerous online seminars, trader expos, and conferences over the years

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