How Does Expert Option Work
I’m sure you’ve been in the situation before where you’re just casually listening to your favourite song on Youtube and up pops a ad for Expert Option. This ad tells you how much you can earn trading on their platform and it intrigues you but you must be wondering how you can earn using this app. I will be explaining how it all works and how you can make money using this app.
Open a real account and add funds. Expert option works with more than 20 payment systems. You are able to trade any of their 100 assets and stocks. You can use technical analysis and trade the news, Cashing out is fast and easy because you can g easily get funds to your bank card or e-wallet. They take no commission. They provide the fastest trading using modern technologies. There are no delays in order executions and most accurate quotes. Their trading platform is available around the clock and on weekends. Expert Option customer service is available 24/7. They are continuously adding new financial instruments.
Expert Option Demo
Expert Option is a fast online trading app. At the beginning of entering their app/website You will be given a $10.000 Demo which you will be able to use in order to get a feel of how the interface works. There are 5 account types on Expert Option each, containing it’s own perks. These account types are Basic, Silver, Gold , Platinum and Exclusive. Each account type increases in price from as low as 50 dollars to invitation only.
Note that Demo account practice comes before any Registration. You do not need to Register to get a Demo account in Expert Option!! You only need to access any of the Expert Options trading platforms which are the Web, Mobile, and Desktop Apps!! Once you open the Expert Options platform of your choice, you will be directed to the Demo account. Remember no login details are required to access the Expert Options Demo account! Once in the Demo account, you will realize that Expert Options offers you a whole Free virtual $10,000 to begin practicing Forex trading!!
The platform has over 100 different financial assets that can be traded on a Fixed Time basis. Indices, Cryptocurrencies, Currencies, Commodities, and Stocks can all be traded on the platform. You only need to choose which one to trade. The platform has about 8-10 Indicators and Oscillators. These can be used for trend prediction for accurate predictions which translate to more earnings. Lines like Horizontal, Vertical, and Ray are also available for a similar purpose. Expert option price charts include the Area chart, Line, Japanese Candles, and Bars which can be customized into different periods.
How To Trade With Expert Option
As mentioned before when you are just getting started you will be given a demo startup amount of $10,000 . It is recommended that when you are just getting started you should change the layout from graph to candles. There are many different asset types that you can trade with. The reason why it is recommended to use candles instead of graphs is because candles gives you a better representation of the market.
Expert Option provides users with a variety of intuitive trading platforms, with the option to trade via the web, mobile app or dedicated desktop app. While many brokers choose to make use of an existing platform (typically MetaTrader 4 or MetaTrader 5) to save time, Expert Option instead created its own platform which is fully customisable and can be tailored to the needs of each client. This means that all features on offer from Expert Option are easily integrated, whether the user is trading via a desktop or mobile device, although the downside is that there are no exterior support resources available.
However, with such an intuitive interface, it’s unlikely that users are going to need outside resources to understand how to trade with ExpertOption. Furthermore numerous signalling and analysis tools are available, including;
Four chart types
Eight indicators
Multiple trend lines
The platform also supports social trading, a wonderful feature that provides an opportunity to monitor the deals of top traders, even allowing users to copy trading strategies to maximize profits. Expert Option provides more than 100 of the most popular and widely traded instruments, and the list continues to grow, with an ever increasing number of stocks, commodities, currency pairs and cryptos. Just a few of the most popular instruments include the likes of; Google, Facebook and Apple stocks, Gold, Platinum and Silver commodities, top currency pairs such as USD/EUR, GBP/USD and of course cryptos like Bitcoin and Ethereum.
Can you really make money with expert option?
Yes you can earn actual money with Expert Option. You can earn up to 95% of your investment amount per trade on Expert Option trading various assets available on the platform. To make profits, you have to predict where the price of an asset will be after a given period. UP and DOWN buttons are available for that purpose. If your prediction is correct, you earn the specified percentage of the invested amount plus the invested amount itself!! The only pitfall is that profits made on a Demo account are virtual and cannot be withdrawn! How then do you make money on the platform?
Let us carry on and find out:
1.Registration in Expert Option.
You can create an Expert Option account from the App after downloading and Installing it!! You can also register as a member of Expert Option on their website. In either case, you will only be required to;
- Enter your Email address.
- Set your own Password.
- Accept the Terms and Conditions to get an active account.
There are other Options to Register on Expert Option which are available on the registration interface. These are registration through your;
- Facebook Account.
- OR Google account.
After successful registration, then you are ready to go ahead and Deposit funds!!
2. As we mentioned, you can earn profits up to 95% of the investment amount in Expert Option. To earn, you have to predict whether the price of an asset will go UP or DOWN within a specified period. If you predict correctly, you earn the specified percentage of the invested amount plus the invested amount itself!! That is exactly the same thing that you have to do on a live account to earn real money!!
Let us use the example of GBP/USD whose rate of return is 85%. You predict that the Price will go UP in 5 minutes by investing $10. Upon expiration, you Win!! $ 8.5 plus the invested amount, $10 will be credited to your Live account immediately, making your account shoot higher by a whole $8.5!! Let us say you predict that the price will go DOWN. You take a DOWN position for 5 minutes by investing $10. Upon expiration, you Win. Whether the price goes UP or DOWN we make money either way.
3. Withdrawal of Profits in Expert Option.
Withdraw funds from Expert Option in the following steps;
- Log into the Expert Option platform.
- Locate the Menu button on the top far left – Hit the Menu button.
- Select Finances from the Menu.
- At the bottom, locate three prominent buttons – Deposit, Payment History, and Withdraw.
- Hit the Withdraw button.
- The payment method you used while depositing will be used while withdrawing
- Enter the Amount to Withdraw. The minimum withdrawal amount is $10.
- Enter your details in the fields as specified.
- Hit the Request button to send a Withdrawal request.
- Withdrawal requests may take up to a workday but often, they are instant!!
Expert Option does not charge any commission on withdrawals.
Common questions and honest opinions about Expert Option
1. Is ExpertOption a Scam?
ExpertOption comes off as transparent but since the owning company changed to EOLabs LLC, this broker is no longer regulated. So that leaves us with a broker with enough experience (launched in 2014) but with no one to complain to in case some problems arise, which unfortunately is not so great.
What is good to see however is that Expert Option does not appear to be soliciting clients where they are not licensed. In fact, users in certain countries get a message popping up which says their country was not accepted. The overall vibe surrounding this broker is positive but you can never be too careful. As always, pay attention when your money is involved.
2. Should I open an Account with ExpertOption
ExpertOption is a well-known binary options broker founded in 2014 and operated by EOLabs LLC, a company located in Saint Vincent and the Grenadines. The previous owning company was EXPERTOPTION LTD, which was registered with the International Financial Market Relations Regulation Center (IFMRRC); however, this is no longer the case and EOLabs LLC is not regulated by any notable financial watchdog.
You can open an ExpertOption account with only 10 USD, which is a very low amount, or start with their relatively big demo account of 10,000$. The minimum investment amount per trade is again very low, at just 1 USD, while the maximum depends on account type: 10/25/250/1000/2000/3000 USD for Micro, Basic, Silver, Gold, Platinum, and Exclusive respectively. As for the minimum deposits these are very flexible, starting at 10 USD for Micro and continuing with 50/500/2,500/5,000 USD for Basic, Silver, Gold, and Platinum respectively. They also have an Exclusive account which is invitation only, thus we don’t know what the minimum investment is.
The payouts are advertised as high but the comments we have found tell another story. Allegedly, if you are successful, the payouts will decrease by 50% or more! To confirm that this wasn’t just the case of a couple of angry customers ranting on the internet, we checked various sources and looked for more comments. Unfortunately, we couldn’t reach a clear conclusion.
The platform itself looks nice and you have access to several indicators and technical tools like horizontal lines and trendlines. You can also turn on or off the “trader’s deals” which shows where other clients are entering their positions. You can also use 4 different kinds of charts such as candlestick charts and different time-frames. Something I found helpful was that I could split the charts into two sections so I could monitor two assets simultaneously. The unique thing about their platform is probably the “full-screen mode”, a feature I have not seen with many other brokers. The platform is also available for download but what it lacks is a good explanation on how to use it.
Keep in mind that this broker does not provide services to clients from the following countries: USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, North Korea, Puerto Rico, Singapore, Bangladesh, Indonesia, Yemen, and Sudan… The full list is mentioned under their “terms” and it pretty much includes all countries that require a local regulatory certification.
Overall, ExpertOption is a good option because they offer a free demo (no registration needed) and a very low minimum deposit of 10 USD. Use their demo, then deposit the minimum (if you liked the demo of course) and see how it goes from there. It doesn’t have to be a huge commitment; test them out first. EOLabs LLC, registered at 305, Griffith Corporate Centre, Beachmont, 1510, Kingstown, Saint Vincent, and the Grenadines. They can be contacted at the phone: +44 20 3868 3160 and email help@expertoption.com.
3. Expert Option Ratings
User Friendly 18/20
The website is user-friendly and comes in 15 languages. The platform itself is great but it really needs a good explanation or tutorial. On the plus side, the education area is well-worked on with strategies, technical analysis, glossary, psychology, and lots of other information. U.S. clients are not accepted; demo accounts and mobile platforms are available.
No. of Assets and Expiry time 17/20
There are a number of OTC assets you can trade over the weekend with relatively high payouts. The asset index is very wide and includes currencies, stocks, commodities, etc. but also a lot of cryptocurrencies (outlined in the section above). However, the expiry times need some work because the longest I’ve seen was 5 minutes and most assets were limited to 1 or 2 minutes.
Commissions, Support, and Effective Return 16/20
The returns go above the 85% mark but you are not going to find many assets reaching that high during the trading week and people have reported that these high payouts get lowered shortly after you start profiting. However, we cannot confirm such allegations. ExpertOption doesn’t charge fees or commissions but the e-wallet or payment method you use may charge such fees. Live chat is available for support.
Deposit, Payment, and Bonus 17/20
The minimum deposit is low, at 10 USD only but bonuses are unclear and the turnover requirements are not specifically explained. According to some parts of their website, bonuses go up to 100%. The deposit/withdrawal methods supported are Visa, MasterCard, Maestro, Neteller, Skrill, Perfect Money, and others. The minimum withdrawal amount is 10$ and the advertised processing time is 2 business days.
Website Extra’s 17/20
Social trading is available (you can see the trades of other clients right on the chart) and the payouts for cryptocurrencies are high (some even above 80%). Other than this we can mention that the platform can run two charts/assets at the same time and a full-screen feature is available.
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