ExpertOption

ExpertOption is an online broker that offers binary options based on forex, cryptocurrency, stocks, stock indices, and commodities.

The minimum deposit is just $10 and the smallest possible trade is $1, so you do not need a big bankroll to get started with this broker.

A downside with this broker is the tiered accounts. Many of the special features are only available to traders with Platinum Accounts and Exclusive Accounts. Traders who have deposited at least $500 have access to much more than the other traders. Until you have deposited a minimum of $2,500 there will be a cap active, preventing you from doing big trades. Of course, for many micro-traders doing small deposits, this will not be an issue since they prefer to stick to small to mid-sized trades anyway.

Trading platform

With ExpertOption, you will be using their own proprietary platform. You can not use any third-party platform, e.g. MT4, MT5 or cTrader.

The ExpertOption trading platform opens directly in the web browser window and it doesn´t matter if your computer runs on Windows or not.

The platform is sleek and easy to navigate.

Mobile trading

ExpertOption offers mobile apps for both iOS and Android.

Technical analysis

The platform comes with built-in tools for technical analysis, including charts with direct access to trading. Order-tabs are located at the bottom of the screen. The charts can be set-up in four different ways and there are eight trading indicators, plus trendlines and drawing tools.

If you are used to advanced trading platforms such as the MetaTrader 5, you might find the tools at ExpertOption a bit lacking. For a beginner who is just starting out with technical analysis, they are sufficient to work with the basics.

Trade signals

Trade signals are only available for Platinum Accounts and Exclusive Accounts.

Automated trading

Automated trading is available through ExpertBot.

Copy trading

Copy trading is supported.

Social trading

The platform displays a live stream of trades.
Top-ranked traders are displayed on a leader board, and other traders can reach out to them.

Try out Expert Option with a free Demo Account

You can try out the platform for free by signing up for a Demo Account with ExpertOption. It comes filled with $10,000 in play-money so you can make play-money trade and learn how everything works. That way, you can make a more informed decision when you decide if you want to make a first deposit or not.

Account types

ExpertOption use a tier system for their accounts, and some features – including trade signals – are only available in Platinum Accounts and Exclusive Accounts.

Speciality Accounts

Ethical Investment Account: No

Islamic / Muslim / Halal / Sharia Account: No

Indian Demat Account: No

STP Account: No

ECN Account: No

DMA Account: No

MAM Account: No

PAMM Account: No

LAMM Account: No

Trading at ExpertOption

Underlying assets and products

You can use ExpertOption to gain exposure to over 100 different assets and products, including company shares, indices, forex, cryptocurrency, and commodities.

Examples of what you can speculate on:

Many different exchange-traded stocks. (The largest of the categories here is the company share category. )
Stock indices
Six different forex pairs
The top-traded cryptocurrencies
Commodities such as gold, silver and platinum.

Binary option types

High/Low binary options and Boundary binary options are available, but not Ladder binary options.

Payout

The binary options with the highest payout at ExpertOption pays out 95%.

Minimum trade

The minimum stake is $1.

Expiry

The shortest lifespan is 1 minute.

The longest lifespan is 1 month.

Short lifespans are more common for forex and cryptocurrency speculation, while longer lifespans are more common when the underlying is company shares or stock indices.

Forex spreads

Forex GBPUSD Spread: $5 on any winning trades + 5% on payouts

Forex EURUSD Spread: $5 on any winning trades + 5% on payouts

Forex EURGBP Spread: $5 on any winning trades + 5% on payouts

Cryptocurrency speculation

Available cryptocurrencies: BTC, BCH and ETH

Crypto spread: $5 on any winning trade

Are Contracts for Difference (CFDs) available at ExpertOption?

No, this is not a CFD broker.

Deposits and withdrawals

Transaction methods

Over 20 different transaction methods are accepted, including credit/debit cards, Bitcoin transfer and many e-wallets.

Examples of accepted transaction methods at ExpertOption:

Deposits

The minium deposit is just $10, so you do not have to make a big commitment to this broker when you are starting out.

Withdrawals

The basic rule is that withdrawals should be made using the same method as the deposit.

The minimum withdrawal is $10.

You can expect it to take two days for your withdrawal request to be processed by ExpertOption. After that, how much longer you need to wait depends on your chosen method.

Account currencies

ExpertOption accepts a wide range of account currencies. This can help traders mitigate currency risks.

Ownership and regulation

ExpertOption.com is operated by EOLabs LLC, a company based in Saint Vincent and the Grenadines.

Company address: 305, Griffith Corporate Centre, Beachmont, 1510, Kingstown, Saint Vincent and the Grenadines

Regulator: St Vincent & The Grenadines Financial Services Authority (SVGFSA)

The law of Saint Vincent and the Grenadines is not very strict when it comes to online brokers. This country is still allowing the sale and distribution of binary options to retail clients and do not require brokers to provide retail clients with Negative Account Balance Protection.

Welcome bonus

The welcome bonus is a 100% bonus on your first deposit.

ExpertOption offers a welcome bonus that works a bit differently than we are used to. It will be added to your account right away after your first deposit, but:

The bonus can not be used until you have used up the deposited funds.
The bonus itself can never be withdrawn, but profits above the bonus amount can be withdrawn.