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6.9
  • ExpertOption

  • Bonus: Up to 100%
  • Options Payout: 80-95%
  • Rating: 6.9 / 10
Broker Name: ExpertOption
Platform: ExpertOption
Founded: 2015
Bonus: Up to 100%
Return/Refund: 80-95% / 0-10%
No. Of Assests: 14
Regulated:   
Demo Account: Yes
Minimum Deposit: 50
US Traders:   Not Accepted

ExpertOption Review

ExpertOption was founded in 2015 and registered in Saint Vincent and the Grenadines, 1510, Kingstown, Suite 305, Griffith Corporate Center. Since they are really based in Russia, they are certified with FMRRC, Financial Market Relations Regulation Center, a non-governmental voluntary oversight agency. Their certificate number is: 0395 AA Vv0084. They claim to be regulated by VFSC, Vanuatu Financial Services Commission, another off-shore and untested regulator. Their contact number in English is: +44 20 3868 3160. ExpertOption does not provide services to clients from the following countries: USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, Korea, Puerto Rico and Sudan. The full list is mentioned under their “terms” and it pretty much includes all countries that require a local regulatory certification.

 

Is ExpertOption a Scam?

ExpertOption comes off as transparent providing their certificate number and information. They are also regulated with FMRRC and VFSC. FMRRC is a non-official “regulator” based in Russia. This organization is created for the purpose of regulating brokers. However, unlike with CySec we can’t really be sure how strict FMRRC is when it comes to monitoring brokers or if they are even for real.

There are some bad reviews on them but they are mostly regarding their payouts changing which we have explained further below under “complaints”. What we don’t like however, is that they offer bonuses that lock up your deposited funds until the required turnover volume is met. CySec has recently banned these unfavorable bonus schemes and bonuses altogether to protect investors. Whether FMRRC will do this too, for the brokers they are issuing certificates for, remains to be seen.

What is good to see however is that ExperOption does not appear to be soliciting clients where they are not licensed. In fact, we got a message popping up saying our country was not accepted.

ExpertOption has two domains, *.RU and *.Com. The latter domain has during the past months increased heavily in traffic and reached a high peak early 2017. Overall it seems the interest is high and ExpertOption has a solid stream of traffic.

 

Notice: We found 1 broker rated higher on low minimum deposit category. Check out this Ayrex Review.

 

Editor’s Note- Why ExpertOption DOESN’T Suck in 50 Words?

Two things I immediately see and like: 1. You can start with a 10,000$ demo account without signing up which is a decent enough amount for practicing and feeling out the platform. 2. The transparency regarding the countries they can’t allow due to regulations.

 

Why does ExpertOption Suck in 50 Words?

What sucks is that bonuses lock your funds and you can’t withdraw and you can’t even cancel the bonus once you have started trading. Also, we can’t confirm how strong and effective a FMRRC regulation really is.

 
 

Should I open an Account with ExpertOption

You can open an ExpertOption account with only 50$ which is a fairly low amount or start with their relatively big demo account of 10,000$. The maximum investment amounts per trade are very low at: 50/100/300/1000 for each account type, Mini, Silver, Gold and VIP.

What is strange is that you don’t get access to your own trading history unless you are a VIP account with a 2,500$ deposit! The payouts however are advertised to reach up to 95% but the comments we have found tell another story. Apparently, if you are successful, the payouts will decrease  by 50% or more! To confirm that this wasn’t just the review of a couple of angry customers who were trading during low volatility hours, we checked various sources and looked for more comments. Unfortunately, we found the same stories and in some cases the payouts were reported to be below 50% and some traders included evidence in form of images.

The platform itself looks nice and you have access to several indicators and technical tools like horizontal lines and trend-lines. 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 most unique thing about their platform is probably the “full screen mode”, a feature I have not seen with any other broker. The platform is also available for download but what it lacks is a good explanation on how to use it.

Overall, if you live in Europe you should go with a CySec-regulated broker with a good reputation and spare yourself the trouble. If you however still wish to try out ExpertOption, try their demo first and then use the minimum deposit 50$ to begin with and test them out first. The minimum investment per trade is only 1 dollar so you have good leverage with a 50 deposit.

 

ExpertOption broker Complaints

We couldn’t find that many comments but it’s not strange because most EU countries are not allowed due to regulations and neither is the US and Canada. The few comments we did find on various sources however, told the same stories: the payouts will decrease if you are making money and only increase back when you lose. Also, the bonus lock will bring the usual bonus issues so beware of that. However, a broker can change their payouts as they wish and that in itself is not really a scam bad just bad service.

 

ExpertOption Regulatory Announcements and Warnings

Since ExpertOption does not accept clients from most European countries it is not strange we can’t find the regular warnings and fines we usually find on other brokers.

 

ExpertOption Bonus

Bonuses range from 50% up to 125% depending on account type and a volume of 50 times your bonus must be reached before you can withdraw your own deposit and/or the bonus. The bonus can only be cancelled before you have started using it.

 
 

ExpertOption Ratings

User Friendly 15/20
The website is user-friendly and comes in 12 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.

 
No. of Assets and Expiry time 12/20

There are a number of OTC assets you can trade over the weekend with 89-95% payouts. I found the asset index pretty limited but it might have been because it was a demo account. Expiry times were strange and I could not wrap my head around it inside the platform. There was short term, 60 seconds up to 3 minutes and long term which was very limited, 5-15 minutes.  Basically a very limited platform with little to interest serious traders.

 
Commissions, Support and Effective return 15/20

The returns are promised to reach up to 95% 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. A 10% will be deducted from your withdrawal if you have not traded on your account more than you have deposited. Live chat is available for support.

 
Deposit, Payment and Bonus 12/20

You cannot deposit more than 3000$. Minimum deposit is low, at 50$ only and bonuses range from 25 up to 125%. Accepting bonuses means you cannot withdraw unless you have reached a trading volume of up to 50 times the bonus. The transaction methods supported are:
Visa, MasterCard, Maestro, UnionPay, Skrill, Neteller, Payweb, PerfectMoney, Qiwi, Yandex.Money, Webmoney.  The minimum withdrawal amount is 10$.

 
Website Extra’s 15/20

The platform can run two charts/assets at the same time and a full screen feature is available, something we have not seen before.

 

ExpertOption Overall Ratings: 69/100

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