A Review of Expert Option: Get Your Re-Deposit Bonus with this Binary Options Broker
The lure for Expert Option is the provision of the so-called re-deposit bonus. This is a bonus provided to old traders with dormant accounts. Many brokers simply focus attention on the new traders and forget that their old traders were once new traders. By extending a bonus to those whose accounts may have become dormant for one reason or another, Expert Option is able to tell the old traders in their network that they are not forgotten. In addition, new traders get a graduated bonus structure. Let us find out more about Expert Option.
Rating section
- Bonuses: 85/100
- Software: 90/100
- Customer Support: 80/100
- Options Choice: 75/100
- Overall: 80/100
Ratings Summary
The re-deposit bonus provided by Expert Option in addition to regular account bonuses provides a valid basis for giving Expert Option a score of 85/100. Expert Option was voted the Best Trading Platform in the 2017 Forex Expo in Shenzhen, China. This is why Expert Option is awarded a score of 90/100 for its platform, which features an amazing UX interface. Customer support features several channels of communication, giving it a score of 80/100. When it comes to choices of options, the platform gets a score of 75/100.
Company information
Expert Option is broker that commenced operations in 2014. In three years, it has grown from its humble beginnings to become the winner of the Best Trading Platform award at the China Forex Expo held in Shenzhen on 6-7 May 2017. The company’s headquarters is located in the island nation of Vanuatu. Expert Option is regulated and licensed by the Vanuatu Financial Services Commission (VFSC), with license number .
Assets Available
Traders can get access to a listing of more than 100 assets on the Expert Option revolutuionary platform. One of the asset classes listed by Expert Option happens to be the rave of the financial markets, cryptocurrencies. Listed below are some of the assets that traders can expect to meet on the Expert Option platform:
- Forex: AUDUSD, EURUSD, AUDCAD, USDNOK, EURGBP, USDCHF, USDJPY, USDCAD, GBPUSD, CHFJPY, USDCNH, USDTRY and EURJPY.
- Cryptocurrencies: Bitcoin (BTC) and Litecoin (LTC).
- Indices: Dow30, GER30, S&P500, Nasdaq100, FTSE100.
- Stocks: Allergant, Alibaba, Amazon, Apple, Baidu, CitiGroup, Goldman Sachs, Coca Cola, Facebook, Ford, Google, Disney, IBM, McDonald’s, Lockheed, Microsoft, Netflix, Yahoo!, Weibo and Tesla,.
- Commodities: Gold and crude oil (Brent).
Bonuses & VIP programs
Expert Option offers a re-deposit bonus that starts at 25%; this fact is already known. But what other bonuses are awarded on the platform? Regular deposit bonuses are allocated on a graduated structure, which takes into cognizance the account type operated by the trader. Larger account deposits get bigger bonuses. Bonuses awarded on Expert Option extend from as low as 25% to as high as 125% (VIP bonuses).
- The Mini Account attracts a 50% bonus.
- Silver account holders get a bonus of 80% of account deposits.
- Gold account holders can expect a 100% bonus.
- VIP account holders get the highest bonuses of 125%, in addition to other juicy giveaways such as travel and holiday tickets, fast withdrawals and account support.
All bonuses are subject to turnover requirements of at least 30 times the bonus amount before any withdrawals can be made on the trading account.
Mobile Trading
Mobile trading on Expert Option is possible, courtesy of the exquisite mobile trading apps available from the Google Play store and Apple’s App store. These apps have had more than 1million downloads and look set to get increased usage in the coming months.
Deposits and Withdrawals
More than 20 payment systems are available for transactions at Expert Option. These payment methods are listed below.
- Credit card/debit card: Cards issued by MasterCard, VISA and China UnionPay can be used for instant deposits and same-day withdrawals. Usage is subject to restrictions imposed by Expert Option.
- Bank wires are available to all traders on Expert Option.
Digital wallets: An assortment of digital wallets can be found on Expert Option. These include Skrill, Webmoney, Neteller, Yandex Money, Payweb, AliPay, GiroPay, and QiWi. The transaction processing times of Expert Option are comparable to present industry standards. Traders who have Gold and VIP account get priority withdrawals.
Customer Support
Expert Option provides customer service in several languages or broader reach to its clients. If you speak English, French, Portuguese, Spanish, Filipino, Malay, or Mandarin, you are covered. Customer support on Expert Option can be accessed via the following channels:
- Live chat
- Email: Emails can be sent to [email protected].
- Phone: +44 20 3868 3160.
Customer support is available 24 hours a day, Monday to Friday. The quality of the customer support on ExpertOption is ok.
Extra features and resources
What special features and resources can traders get on the Expert Option platform?
- Traders receive a free $10,000 demo account.
- Trader education is taken seriously on Expert Option. A full compendium of resources for trader education is available on the website.
- Expert Option runs an affiliate program to enable payments for referred clients.
- An Asset Schedule is provided to give traders information on the news trading times for various assets. This enables traders to trade binary options with the news.
- The Expert Option platform provides an opportunity to ride the cryptocurrency wave by presenting Bitcoin and Litecoin for trading.
Verdict
Expert Option is a 3 year old binary options brand that is spreading fast across the world, with a presence now in 150 countries. The company has incorporated a lot of features that have excited the markets. So what are the advantages of using Expert Option as your preferred binary options broker?
Pros
- Traders get access to four chart types, eight different indicators and trend line tools. There are very few binary options brokers that offer these tools to their traders.
- Expert Option also offers a social trading feature to allow collaboration between traders from all over the world.
- The 25% re-deposit bonus has proven to be a very popular product which gives old traders an added incentive to continue trading.
- Expert Option is one of the few binary options brokers that offers a downloadable desktop application for both Mac and Windows users. Those who prefer to have a downloadable client as opposed to a web trader now have that option.
Cons
- The licensing that Expert Option holds is not one of the globally recognized licenses. This needs to be addressed to boost investor confidence.
FAQ
Here are some of the frequently asked questions that users have about the Expert Option platform:
- Is Expert Option a regulated broker?
Answer: Expert Option is regulated by the VFSC, the regulatory body for Vanuatu islands.
- What is the minimum deposit on the Expert Option platform?
Answer: The minimum deposit on Expert Option is $50. This is the account minimum for the Mini account. Other account types attract different minimum amounts. These are as follows:
- $250 for the Silver account
- $1000 for the Gold account
- $2500 for the VIP account.
- Does Expert Option offer a downloadable platform?
Answer: Yes, Expert Option is one of the few brokerages in the market that offer a downloadable desktop client.
- Is Expert Option a legit broker?
Answer: With no scam reports against the company, the Expert Option brand can be considered as a legit brokerage brand.
- What cryptocurrency assets are listed on Expert Option?
Answer: Two cryptocurrencies can be traded on Expert Option. These are Litecoin and Bitcoin.
- Can I withdraw my bonuses?
Answer: Bonuses are meant to be used as trading capital. They cannot be withdrawn except the trader fulfills a trade volume requirement of at least 30 times the bonus amount. This means that for a $100 bonus, the trader must generate a trade volume with a total investment amount of $3,000 before the bonus can be withdrawn.