Expert Option Review: Safe or Scam Broker? Our Deep Dive

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► Overview 📝

Expert Option is a broker that was founded in 2014 and is based in Saint Vincent and the Greandines.

They take clients from a number of countries around the world and they have translated their website into over 12 different languages.

There are some regions that they do not take traders from including the United States.

They are a digital option broker which means that traders are making fixed stake trades on whether an asset will either go up or down in price.

In terms of regulation, Expert Option has a regulation from the Vanuatu Financial Service Commission.

This is not really the most reputable of regulators in the world so you will have to decide whether they are sufficient for your trading needs.

In terms of asset coverage, you can trade forex, commodities, equity indices, stocks and of course, cryptocurrencies.

Given that these are digital options, it means you have a fixed expiry time. At expert option you only have two expiry times at 1 and 2 minutes.

We find short expiry times really quite gimmicky but it is up to you if they meet your trading strategies.

You can first test the platform out on free demo account to see how it works for you. They will give you $10,000 demo funds for you to give your trading skills a go.

If you do want to progress onto a live account, then there are at least 5 different account levels. These will differ according to the minimum funding amount, deal sizes, withdrawal times etc.

If you do want to fund a live account, then there are a number of options that Expert Option has for you. These include credit cards, Skrill, Neteller and a whole host of other web wallets.

The minimum deposit size is $50 whereas the maximum is $3,000.

Taking a look at customer support, Expert Option has a number of contact options available. These include telephone numbers, email addresses and live chat. They have also placed multilingual support staff on this and you can speak to them in English, Hindu and Thai.

Before you can withdraw funds, you will need to complete their KYC and identify yourself. Once this has been done, withdrawals are processed in a few hours and the minimum withdrawal amount is $10.

Moving onto the trading platform, Expert option has a pretty nifty web-based platform that is easy to navigate and is ideally suited for beginner traders.

There are also a host neat features such as technical analysis tools, charting functionality and sentiment analysis.

They also have their social trading and analytics section which is really quite nifty.

Social trading lets you follow some of the most profitable traders on the platform whereas analytics gives you some top tips in order to improve your trading performance.

Expert Option has also developed their platform for use on your home PC or Mac and for those on the go, there is the expert option mobile app that is also packed with features.

In conclusion, we encourage you to do your own research.

We liked the trading platform and the customer support was helpful. However, we were not fans of their Vanuatu regulatory status. I also don’t like the fact that they only offer these “digital option” instruments with the arbitrarily short expiry times.

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► Warning!! ⚡️

If you are going to be using Expert Option, be sure that you are practicing adequate risk management and never risk more than you are willing to lose.

► Disclaimer 📜

This is for informational purposes only. Coin Bureau does not provide investment advice, nor is it an offer or solicitation of any kind to buy or sell any investment products. Rates and terms set on third-party websites are subject to change without notice.

#Forex #Trading #FX

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