We ventured into our search to find this out. We have gathered that this broker rates low on Google trends and has not been around for quite some time in the industry. We have also reached out our members to share their experience so far.
Since we are still researching about this broker, we cannot say for sure that this broker is 100% legit. In order to be sure of our traders’ satisfaction we recommend you to Proceed to SafetyProceed to Safety OR choose one from the list of Top Trustworthy Binary Option Brokers:
Top 3 Brokers January 2017
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Founded in 2015, ExpertOption is a new financial trading broker. They are based in St Vincent and The Grenadines and they mainly service traders from the Russian market. However, they support a variety of languages including Russian, English, French, Italian, German, Hindi, Chinese and so on. But, is ExpertOption a reliable broker when it comes to trading binary options? We will find that out in this short review.
Is ExpertOption a Scam or Not?
It has not even been more than two years since ExpertOption was launched and this is the reason we cannot confirm whether they are legit or a scam. They may not be a scam because recently they have acquired a license from CROFR. From what we have found, this is a self regulatory body that regulates brokers operating in Russia.
Apart from this information, we haven’t been able to find out much about ExpertOption. Currently, they rank low on Google Trends and are not popular among traders. In our opinion, there are better brokers on the market. Some of the brokers have been around since years and they have a reputation for being safe and reliable. So at the moment, we would like to advise traders to choose a broker that is proven to be safe rather than trading with one that is new in the industry.
ExpertOption operates on a custom built trading platform and they offer a variety of assets to choose from. They offer assets from the four main categories including currency pairs, indices, stocks and commodities. According to them, they offer an easy to use trading platform to traders. They have designed the platform in such a way that both experienced and new traders feel comfortable with their platform. During our review, we found that they offer very short expiration times. the maximum is just 5 minutes. Basically, the expiration time starts from 60 seconds and goes up to 5 minutes. We really hope that ExpertOption had longer time frames as well because shorter expirations can be very risky at times.
Account Types & Bonuses
They have a Mini Account that starts at just $50. The bonus that comes with this type of account is 50%. The next type of account Silver Account and you can register for this account by depositing $250. The bonus is 75%. The third type is Gold Account and you must have at least $1000 to be able to get started. You get 100% bonus with Gold Account. The last type is VIP Account and the minimum deposit requirement is $2500. You can get 125% bonus for choosing this account.
Sign Up – the first step is to complete a registration form and provide your personal details.
Trade – to be able to start investing, you must choose an account type and fund your account with the minimum amount that is required to set up that account.
Withdrawal – when you make profits on your investments, you can use a withdrawal method to get your money transferred.
Deposit and Withdrawal
The options available to traders include bank transfer, credit cards and some contemporary online payment methods. Traders can deposit as low as $10 and get started. We are not clear about their withdrawal terms and the minimum amount that your account must reach before you can request a withdrawal.
Customer Support Information
ExpertOption offers email and phone support. In addition, they offer live chat service that can be used by traders who need instant help. Apart from English, they offer support in a number of other languages. They don’t offer support 24/7 and this is the reason traders may have to wait for long hours before they get their issues resolved.