Expert Option Uae
Leysan Torri
Expert Option is a binary market broker that specializes in providing services such as binary options trading. It is a trustworthy and low-risk broker that offers digital trading on forex, cryptocurrencies, commodities, indices, and stocks, and is ideal for beginners and novice investors.
The company is based in Saint Vincent and the Grenadines. There office location is 1510, Kingston, Suite 305, Griffith corporate centre. If you wanted to find more information Expert Option then you can look up their company number with registration number 22863.
What really stands out for expert option is that they have developed their own trading engine and platform. This is contrary to the usual practice where brokers would outsource their platforms to an external technology provider.
This is perhaps one of the most relevant questions when it comes to choosing a broker and completing a review. There have been too many examples of brokers in this industry that have operated in a less than stellar manner.
There were some concerns online about Expert Option given that the company was registered in St Vincent. We asked Expert Option about the reasons for this and they stated that it was for tax efficiency reasons. Whether this is the only reason for it, we cannot tell. However, there are many exchanges and brokers that have made similar choices.
For example, some of the largest cryptocurrency exchanges operate in offshore locations. The Binance crypto exchange is registered in Malta whereas exchanges like BitFinex, which is one of the biggest, is registered in Luxembourg.
One of the most important factors that you need to consider when you are about to trade with a broker is their regulations. What jurisdictions are they registered in and what client protections are there?
In the case of Expert Option, they are certified by the Financial Market Relations Regulation Center. This is a non-governmental voluntary oversight body that is located in Russia. You can view their licence certificate over here.
They are also regulated by the Vanuatu Financial Service Commission. This is a relatively new regulator that has started offering financial service licences to offshore companies. You can read more about their client protections on this website.
Another really important factor when you are considering a broker is whether the information that you send them is secure. Encrypted communication is now the standard among brokers and financial websites.
Well, given the prevalence of sophisticated hackers these days sending information such as credit card details and personal documents is really risky. That is why you have to make sure that the broker uses the latest standards in SSL encryption.
Expert Option is SSL encrypted and you can see this by observing the green padlock in the browser window. This means that all of the information that you send to Expert Option's servers is encrypted using AES 256 encryption.
As mentioned, Expert Option has a range of different assets that you can trade options on. These range from the more traditional asset classes such as Forex, Equities and Commodities, to the new and exciting cryptocurrency field.
With Fiat currency trading pairs, you have all of the major crosses including AUD, USD, GBP, NZD, CAD, EUR and CHF. With equity instruments you have some of the most interesting companies such as Amazon, Baidu, Coca-Cola and Tesla. There are three commodities that you can trade and they are Gold, Silver and Oil.
On the digital currency side it seems as if Expert Option has gone all in. In fact, they have more cryptocurrency pairs than they have of all other assets. Below are all the crypto pairs that they provide on their platform.
Options, unlike futures, give the holder the right but not the obligation to buy or sell an asset at some predetermined price in the future. If you enter a CALL option you are going long the underlying asset and if you enter a PUT option you are shorting the underlying price.
Expert Option is restricted in certain jurisdictions and are not open to investors from the following countries: USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, North Korea, Puerto Rico, Sudan.
At expert option, you can trade on a demo account with $10,000 of demo money. An Expert Option demo account is a great way for the trader to get a better sense of how the platform works and whether they could indeed see themselves using it. It is also something that not many cryptocurrency exchanges will offer their traders.
What we really liked about the Expert Option demo account is that there are no obligations on the side of the trader. You do not even have to sign up and you can practice trading in demo anonymously on Expert Option to your heart's content.
This is a stark departure from older Digital option brands that have used the demo account as a way to drag the clients in by manipulating them to hand over more funds. The Expert Option demo account also has all of the same pricing that you will find on the live account below.
Sure, at some cryptocurrency exchanges you will have tiered account levels but these are merely determined by how much you are willing to verify yourself on the exchange. At expert option, the tiered accounts are determined by how much you invest.
Well clearly as is shown those accounts that have more money in them will have more benefits. However, we would suggest starting small. This is because you need to make sure that you need to make sure you are completely comfortable with the broker before you will commit such a large tranche of funds.
Moreover, you may want to consider against the bonus options that may be presented to you. This is because bonus terms are known to be incredibly onerous and have turnover requirements that are almost impossible to reach.
There are a few ways in which you can fund your expert option account. No doubt the easiest way that clients will opt for is to use a credit or debit card. In terms of the card types that they accept, it is Visa, MasterCard and UnionPay.
The minimum deposit at Expert Option is the $50 that they have on their first level account. They also have a maximum deposit size of $3,000. This is probably to do with the payment processor limits imposed on them.
Expert option claims that they have 24/7 customer support. You can reach these support agents directly from the trading platform. When we tried to reach out to the support team it took about 10 minutes to receive a response which is not too bad. You can also reach them on their dedicated support email at [email protected]
In terms of KYC, Expert Option is required to complete a number of steps to make sure that you are who you say you are. This is the standard protocol in today's markets to avoid the risks of Money Laundering and fraud.
One of the most interesting parts of the Expert Option package has to be their trading platform. As mentioned, this platform was built in house and is hence unique among the other option and CFD platforms.
In the middle you will have all your charts and markets. You can choose a layout that works best for you and you can split the chart among more than one asset. This is beneficial for those traders who like to trade more than one market at a time. As you can see below, we are monitoring both Gold and EUR/USD.
If you are one of those traders that likes to run technical analysis then you can use the charting tools and indicators that Expert Option has. While these can be useful, they are fairly rudimentary for a charting package.
For example, you have some drawing and mapping capability where you can sketch out your trendlines and entry points. You can also switch from the standard area chart for a more specific line, bar or candle chart.
Taking a look at the indicators, they give you a list of 8 different indicators that you can use. You have your basic Moving Averages, Bollinger Bands, RSIs, MACDs etc. The customization options around these indicators is relatively simple with only one or two different inputs.
If you wanted to get a bit more of a perspective on the market trends then you can open up that tab to the right of the chart. This gives you an idea of which assets are trending the most and in which direction they are heading. You can also adjust the time frame if you wanted to use this as part of your analysis of the option expiry.
The order functionality at Expert Option is rather basic. It appears to be a simple buy / sell order with the only parameters that you can adjust being the amount invested on the trade as well as the strike rate.
Pro Tip: When you adjust the strike rate, you are also adjusting the odds and payouts. If you have a particularly strong view on the direction then you can adjust the payout based on that.
Social trading is an interesting piece of functionality that Expert Option have included on their platform. This allows you to see where the other traders are placing their trades and what strategies they are employing.
For example, you can see things such as the deals that were entered into, the prices that were locked in as well as the profits and losses of the individual traders. Not only is this a great way for you to follow those traders that are profitable but it also gives you a good sense of where market sentiment is going.
You can view social trading in two ways. Firstly, you can head on over to the social trading tab. This is the image on the right below and it will give you a snapshot of the current traders on Expert Option. Here you can see the general (up or down) as well as the leader boards of those traders that have done well.
You also can view all of the trades that were placed by others on the chart itself. Here you can see in real time which way they have positioned themselves. We found all of the social trading tabs on the chart a bit distracting but it could work for you.
This is another feature that Expert Option has included that could help to inform your trading. The analytics section is more for those traders who would like to have some fundamental analysis on particular assets and markets.
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