Top Options
75%/ 100
Type of Broker: Binary Options Broker
Regulated: VFSC
Payout: 85%
Min Deposit: $250
Min Trade Amount: $10
US Clients:
Max Trade Amount: $5000
Number of Assets: 100
Free Demo Account:
Trading Platform: web, mobile
Types of assets: Currencies, Stocks, Indices, Commodities
Payment METHOD NAME Charge Time

Screenshots

Full Review

Expert Option is a binary options broker operating out of Cyprus. This binary options brand presents a proprietary platform with its own unique features (see platform interface below). The company which owns Expert Option presents two operating licenses. However, it is unclear exactly where the brokerage is located.

Expert Option does not provide brokerage services to citizens and residents of USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, Korea, Puerto Rico and Sudan.

Account Types

Expert Option recognizes that no two traders are the same. Therefore, the company has created several account types so that traders can create the account that is perfect for them. The account types on Expert Option are as follows:

  1. Mini Account: This is the account type for beginners. The Mini account starts from $50 and provides users with some educational materials. This is a very basic account and does not have much in terms of features.
  2. Silver account: The silver account starts from a deposit of $250. Traders with a silver account are provided an account officer and are allowed up to 15 simultaneous open trades. A bonus is also given.
  3. Gold account: The Gold account starts from $1000. Traders get a matching bonus as well as lead expert consultations. The Gold account also comes with priority withdrawals and increased asset profit.
  4. VIP account: The VIP account is the premium account and starts at $2500. Traders with VIP accounts get the opportunity of trading more assets and also get priority withdrawals. In addition, the VIP account also showcases individual trading history analysis. This is truly the account for the high rollers.

Trading Bonuses

Expert Option provides trading bonuses to its traders. The bonuses are graduated and the exact amount provided depends on the account type the trader operates. Here are the bonuses awarded on Expert Option:

  • Mini Account: Comes with a 50% bonus.
  • Gold account comes with a bonus of 80% of account capital.
  • With the Gold account, traders are assured of a 100% bonus.
  • The VIP account comes with a 125% trading bonus.

There are other bonuses provided for “re-deposits”. These are bonuses given out to traders who put more money into their accounts after the initial deposit and a period of trading activity. The bonus amount varies, but starts typically at 25%.

Assets Traded on Expert Option

A review of the Expert Option digital option trading platform shows that traders can trade binary options on the following listed assets:

  1. Commodities: Gold, brent crude oil.
  2. Forex: USDCNH, USDCHF, AUDUSD, AUDCAD, USDTRY, EURGBP, EURJPY, USDCAD, USDJPY, CHFJPY, GBPUSD, USDNOK and EURUSD.
  3. Indices: S&P500, DAX, Dow, Nasdaq, FTSE100.
  4. Stocks: Allergant, Alibaba, Amazon, Apple, Baidu, Netflix, Coca Cola, CitiGroup, Facebook, Ford, Disney, Goldman Sachs, Google, Lockheed, Microsoft, McDonald’s, IBM, Tesla, YUM, Yahoo!, Weibo.
  5. Cryptocurrencies: Bitcoin, Litecoin.

Special Trading Tools

Here are some of the special features on the Expert Option platform:

  1. Traders get a free $10,000 demo account.
  2. A compendium of trading strategies is provided as part of the educational suite.
  3. Traders also get some market insight in the form of technical and fundamental analyses.
  4. An affiliate program exists to enable traders earn money for referring others to the Expert Option platform.
  5. There is also an Asset Schedule, which details the trading times for each of the listed assets. That way, you can program your schedule to be online just when your favourite asset is up for trading.
  6. This platform features cryptocurrency trading to allow traders participate in the current boom being witnessed in Bitcoin/Litecoin.

Transaction Methods

At Expert Option, there are several methods of depositing and withdrawing funds. These methods are as follows:

  • Credit card/debit card: This is the preferred method of transaction in terms of transaction speed and convenience. However, not all traders can use the credit card option as this is country-restricted.
  • The bank wire transfer method is universally available to everyone, but has the disadvantage of being the slowest in terms of completion time for transactions. It takes 3-7 days for deposits and withdrawals to be completed using bank wires. Wire transfers may also incur a cost at the bank end, even though Expert Option does not collect any withdrawal fees.
  • E-wallet options: The e-wallets accepted on Expert Option include Skrill, Neteller, Payweb, Yandex, WebMoney, AliPay and UnionPay. Accessibility to the services provided by these companies will depend on geographical location. The advantage of these services is that they also allow third-party processing of specific forms of payment such as credit cards (Payoneer) and country-specific e-payment platforms such as GiroPay, QiWi, etc.

The minimum deal amount is $1, while the minimum withdrawal amount is $10. Minimum deposit amounts are displayed next to the account types information above.

Customer Support

Customer support is available in English, French, Malay, Mandarin, Spanish, Filipino and Portuguese. What are the customer service channels that are operational on Expert Option? Here they are:

Conclusion

Expert Option is a relatively new binary options platform, so it may be too early to give an objective analysis of whether the binary options brand is performing according to expectations or not. In a market with little regulation, there has been a hefty influx of brokers who are more or less bucket shop companies. Thanks to strengthening regulation, many of these brokerages are closing shop. However, others from other jurisdictions are taking their place and this is where Expert Option has found itself.

The platform is innovative and is poised to excite traders looking for a departure from the turnkey platforms provided by SpotOption, Tech Financials Ltd and Tradologic. However, Expert Option has to show that it is a transparent brokerage, dedicated to fair industry practices. It has the rest of 2017 to prove itself.