Expert Option Demo Tips
New Demo Accounts for Expert Option
This makes a lot of sense for beginners as well as for the professional trader, as it allows them to test the platform and its usability beforehand. This way the traders can rest assured that whenever he starts using the platform the trading experience will be smooth and comforting.
A nice feature of the Expert Option platform is the continuous stream of trading alerts and trading signals. The signals cover all their assets, and have either Strong Buy, Buy, Neutral or Sell & Strong Sell. As with any binary option trade signals it is important to understand what the signal is based on and you should demo trade first. It is great that they give you a $10,000 free demo account right away, see here. They do not offer an automated trading software. If you want to use a robot for trading then look at this article about various binary option robots.
Expert Option License
When reviewing brokers to see who is a real broker and who is a scam broker the first thing to do is check for a license. Are they licensed by CySEC in Cyprus, and are they accepted in the European Union under MIFId regulatory rules? ExpertOption is licensed by the Vanuatu Financial Service Commission, and the FMRCC in Russia. Their payment processor is: Vested LP, 28 October avenue, 317, Limassol, Cyprus. When choosing a binary options broker, it is important to check the list of regulated brokers. Always make sure that the broker you are trading with is licensed and regulated.
Traders wishing to open an account with ExpertOption have a wide range of options including the most traditional to the more contemporary e-Wallets banking methods. The minimum deposit amount is just 10 dollars and this makes the site a simple and easily accessible one. This amount is the lowest in the industry and is a good motivating factor to new traders who would wish to gain trading experience. ExpertOption has a very quick and efficient withdrawal and deposit system which guarantees short turnaround times with a good customer support facility. All traders’ funds are held in European banks that are secure and which enable traders to have a peace of mind when trading.
ExpertOption Promises vs. Reality
ExpertOption like many other brokers in this industry uses a number of marketing strategies to attract traders to its binary options and trading platform as a whole. The sales language is designed to lure traders both seasoned and newbie alike. However, when you set the marketing language aside and look at the website entirely objectively, it does not come across as genuine. Finding verifiable and objective information about the website is difficult which makes it hard to choose it as a reliable trading platform. The lack of information will naturally make it difficult for any trader to trust the broker. The broker’s website also has a demo account which is meant for traders to learn how to trade binary options using the platform. However, in reality moving between the demo and main account is a hassle since it directs traders to the trading area each time. Also, the demo account shows exaggerated profit figures which if anything it is an indication that the website is unreliable since its promising a higher than usual return deemed impossible when live trading. So, we think that the demo account is another trick to entice traders into putting money and trading with the service instead of being honest. Bonuses and various promotions mentioned on the website are clearly outlined detailing how they will be rolled out. However, the promises of fast withdrawals are nothing more than mere gimmicks which you can further understand by referring to the website’s terms and conditions pertaining to bonus withdrawals. If anything it’s not easy for traders to retrieve their withdrawals once the initial deposit is made. The bonuses have been cleverly connected to the withdrawal process which makes withdrawing the money a tedious and apparently discouraging process.