Is ExpertOption a Scam?
We have made a research of ExpertOption and found out that they do not rate highly and there is no significant data about them. As an alternative we have selected our Top Safe Binary Brokers along with detailed reviews for safe and secure trading.
Since we haven’t gathered enough information yet, we cannot confirm that ExpertOption is safe. You can Proceed to Safety OR Choose one of the Is-Scam approved and safe Binary Options Brokers:
There are many binary options brokers available on the market which allow us to trade online; all of them providing different trading solutions. Also, as the market is getting more and more crowded, the brokers have to come up with unique features that make them stand out.
ExpertOption is one such broker that claims to have removed all the inconveniences related to the binary options trading including the trading issues that hinder the traders’ profitability, or at least they claim so. The real time traders are yet to provide an unbiased feedback.
Is ExpertOption a Scam or Not?
It is advisable to consider rather a new broker is a scam or not. The majority of the new binary options brokers are involved in fraudulent activities and you should choose very carefully where to open an account. The issue is that the regulatory authorities do not give licenses before these brokers comply to their rules and regulations as well.
So how do we judge? It is clearly by the traders’ vote. When we investigated ExpertOption on the trade forums and on the Internet, we did not find positive feedback about this brokerage company. We believe that most of the investors haven’t tried it yet. This is why it is unclear whether ExpertOption is scam or not. For now we recommend you to choose another approved and trustworthy binary options broker until we can confirm the safety of Expert Option.
ExpertOption prides itself on its trading platform. It claims that the trader will not have to face all the platform related inconveniences that it has to face with other binary options brokers. How far such claims are true is not proved yet. However, ExpertOption does claim that many experts have been involved in developing this platform, to guarantee that it will run smoothly during all trades. Unfortunately, very few binary investors have traded with this broker so far, since it is operating mainly on the Russian market. We have to wait until more information is available to verify their claims.
Account Types & Bonus Amounts
ExpertOption has kept it simple by offering 4 types of accounts to the traders. These account types are:
- Mini: The minimum deposit is $50 and you get a 50% bonus with it. You also get 25% deal insurance with it.
- Silver: Starting from $250, this is the basic account type and you get 75% bonus on your initial investment with it. You get 30% deal insurance and up to 15 simultaneous trading options.
- Gold: It starts from an initial investment of $1,000 and qualifies you for 100% bonus. You can place trades simultaneously. Keep in mind that if you accept the bonus you will have to meet some special requirements before you withdraw your funds.
- VIP: Beginning from $2,500, this account type gives you a personalized trading history analysis. Also, 40% of insurance can be claimed on your trades.
ExpertOption allows you to trade in demo accounts for up to $1,000.
- Sign Up: Enter your personal details step by step and get started.
- Trade: Deposit some funds and start placing trades on the assets provided by the broker’s platform.
- Withdrawal: Withdraw by entering the amount that you wish to transfer into your bank account. Simply enter the amount and click “withdraw”. We recommend you to read carefully the Terms and Conditions Section since there may be hidden clauses and taxes.
Deposit & Withdrawal Procedures
ExpertOption should be following the regulations and therefore all the deposits and withdrawals have to follow the same procedure. But there is no information about this on their website. For deposits, you will have to verify your details by posting a scanned copy of your utility bills and sharing your identity proof by posting some authentication card/s where it is available.
ExpertOption accepts deposits and withdrawals via e-wallets like Skrill, Neteller, Webmoney and Visa and Master Cards. You can also transfer funds via direct bank wire. It usually takes about 7 business days for the funds to get transferred in case of withdrawals.
Customer Support Information
ExpertOption claims to provide a 24/7 customer support. You can get in touch with them via telephone or mail them your queries at their email.
ConclusionAfter detailed investigation our team concluded that there are better choices than ExpertOption. We cannot confirm that this binary options broker is a scam, but our research revealed enough traders’ complaints to not make us feel safe trading with ExpertOption.
We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.