Last ExpertOption review update: 2nd May 2018
In-depth Review of ExpertOption for India
Whether you are new to options trading, or you’re a more experienced Indian trader, subscribing to a trusted and regulated broker should not be ignored. Expert option is an options broker regulated by the VFSC (Vanuatu) and the FMRRC (Russia) ensuring client safety at all stages of the process.
The team at ExpertOption offers a very wide range of trading platforms using state of the art technology. These platforms are fast and efficient even on a basic 3G network, with a beautiful user interface, providing an excellent user experience. So, it doesn’t matter what kind of device or operating system is at your disposal, they have platforms for both mobile and desktop users. Expert option trading platforms include windows based platform, MacOS, Android, and iOS. They even have a web-based platform for those who prefer browser-based platforms.
Their desktop platforms are best for carrying out technical analysis, considering the wider screen and appealing graphical user interface. The mobile app platforms can be downloaded from either the Google Play store and Apple (iOS) app store. ExpertOption mobile platforms provide all trading functionalities available to the desktop versions.
For simplicity sake, we’ll use the windows based desktop platform for the platform review. Upon downloading, installing and launching the platform, the first display on the platform is often the main graph, showing live price quotes of selected assets. Prices of any asset can be viewed into later dates further into the past.
Expert Option in Hindi
The platform is provided by ExpertOption in Hindi.
Indicators and Drawing Tools
By simply clicking the asset of your choice on the platform, you can attach indicators, drawing tools, social trading for a more convenient, and accurate price analysis. Your trading panel shows your deal amount and the profit you should expect from the success of the trade.
Clicking on the platform toolbar, you can attach indicators and drawing tools for better market predictions. Different chart types include area, line, bars, and candlestick charts. You can even select a time frame for candles and bar charts from 5secs to one month. Attaching an indicator to the chart can be easily done by clicking on it chose its settings and apply to chart. Removing indicator or line objects can be done by going back to the toolbar, select the tab and click on the “X” button to remove the object or indicator.
Other features of the platform include a function to zoom in and out of the chart using the centre scroll of your mouse or touchpad. Another very interesting functionality of the platform is the possibility of splitting the platform screen for simultaneously analyzing multiple assets.
Instruments offered for trading
Expert Option offers a wide range of trading opportunities which includes different types of trading instruments. The asset classes made available on the platform are categorized into 4 types. These include currencies, commodities, cryptos, and Stocks. These assets can be viewed altogether by clicking the “View All” button, or by selecting the category of choice. If you’ve used other platforms for trading, then you can simply type the asset you want via a quick search.
Beside each asset is a sidebar which displays the expiration time for each asset. It is required that you chose the expiration based on your price and time projections before placing a trade. The different asset classes have expiration time based on volatility and trading volume. Stocks have a longer expiration time, compared to currencies (FX).
Similar to other trading platforms, currencies are being traded in pairs, and are further categorized as majors, minors and exotic pairs.
These include Bitcoin and some other popular alt-coins like Ethereum, Litecoin, and Dash etc. being the most volatile assets on the platform.
On the expert option platform, commodities are energy and precious metals such as Oil and Gold.
ExpertOption also allows traders to speculate on the direction of international brands like Apple, Disney etc.
Trading on the ExpertOption platform is available 24 hours a day 7 day a week. Though this is possible, we should be aware that some markets are more active than others based on different market’s open session. The 4 geographical sessions include the Australia, Asia, Europe, and America sessions.
More experienced traders often look for trading opportunities when the Europe and the New York (America) Sessions overlap, mainly between 12:00 noon and 4 pm. With this in mind, traders often anticipate huge volatility from the EURUSD currency pair.
Types of Accounts
Different account types on the Expert option platform open up more features and benefits to traders as you upgrade to a higher account type. Account types are categorized into Basic, Silver, Gold, Platinum, and Exclusive. The table below from the website and trading platform show the benefits attached to each account.
Please note that more benefits from an account can be activated upon notification by email.
Commissions and spreads
It may interest you to know that Expert option service has no charges, fee or commissions. Like me, you may wonder how this company intends to make a business out of this service they offer. Well after a little asking here and there, I found out that the company deals with a number of major liquidity providers from whom they receive a rebate. The rebate is based on volumes traded, so unlike bucket shops, whether it is a losing or winning trade, the company earns their revenue on the volume traded.
The more clients trade, the more the reward received from liquidity providers. According to Expert option, they are interested in successful and prosperous traders who will create high trading volume and are proud to help many customers make revenue.
Minimum deposit requirements
At Expert option, the minimum allowed deposit is $50, and the minimal investment per trade is only $1. This is usually the most preferred by new traders; however, newbies should note that going for the minimum deposit also comes with minimal packages offered by Expert option.
Expert option offers a 100% bonus which traders can receive immediately on first deposit. This gives a very good head start to the trader allowing them to be able to make deals without fear of being undercapitalized. You can earn up to 95% profit when trading using the Expert option services.
Deposit and withdrawal options
Expert option offers a very broad range of deposit and withdrawal methods for her clients. As shown in the image below, deposits can be made by clicking on the Finance tab on the left panel, which displays horizontal tabs that include Deposit, Account types, Payment history, and withdrawal. You can continue by clicking any of the amounts shown in the display, or you can type in your own custom amount.
Next, you select the currency of your account; please note that this cannot be changed after your first deposit. When choosing your payment method, you may notice that a few payment methods are displayed in plain sight. You can proceed to click the “Others” button to view all payment methods available in your location. This should display payment portals such as VISA, Mastercard, Bitcoin, Local online banking, and a host of other e-wallets which includes Perfect Money, Neteller, Skrill, ePayments Fasapay, UnionPay, QIWI wallet, Yandex Money and Web money. They also work with Wepay, Alipay, Wechat and QQ.
Neteller, Skrill and Fasapay are among the most popular deposit options in India.
So many options are provided for credit and debit cards. The company place more priority on Gold, Platinum and Exclusive accounts when it has to do with withdrawal. Should you experience a decline in your card, do not panic, your card will not be charged. Every method of funding has a different limit per transaction. To find your way around this, you can make your deposits in separate transactions.
All transactions made on Expert option platform are handled according to PCI, and DSS bank security standards. What this implies is that all your data is encrypted, kept private and never stored on Expert option servers.
Expert option has an excellent customer support to Indians in Hindi ( dedicated phone and email ) , based on how they handled my own issues. They were prompt to respond to me via live chat, and the company’s representative was very patient and polite. Chatting with random strangers on forums also confirmed my judgment; however, you will still have some dissatisfied customers.
ExpertOption Review -Summary
The team at Expert option is a group of highly skilled professionals in their various disciplines. They have continued to offer an outstanding service through their trading platforms, offering help in the area of trader education as well as timely news. First timers with low deposits may realize that the company only pays more attention to larger depositors especially in the area of withdrawal, which is considered most important by the majority of traders in India.
Trading can be a risky as well as a highly rewarding venture; therefore, as an options trader, I think we should increase our chances of success by first subscribing to the service of a broker with integrity and quality service.
Finally, Expert option doesn’t provide services to residence of Canada, USA, European Economic area, Switzerland, New Zealand, Israel, Australia, North Korea, Japan, Puerto Rico, and Sudan.
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