Online trading appeals to a wide audience, a factor that has seen trading platforms flood the market within a very short time. Consequently, this has made the process of looking for a trusted broker or trading software challenging. Finding a good one has also proved to be difficult than a trader could ever imagine. It is for this reason that we dedicate ourselves to reviewing brokerage firms and software in an effort to make your work easier. We have extensive and helpful reviews that will help you make distinct decisions about a given broker or robot. In this analysis, our primary focus will be on ExpertOption, a brokerage that was established in 2015. It has a user-friendly interface that can be used by novice and experienced traders alike.
The minimum deposit is $50, which is quite affordable even for beginners. There is the option of ExpertOption demo account which traders can use to advance their trading skills or test the various trading strategies and indicators. The broker’s trading platform is fully compatible with desktop and mobile devices. Traders using devices powered by iOS, Android, and Windows operating systems can keep track of their trades while on the go. For more information about this broker, take a look at this ExpertOption review.
Find the best trading platform. You capital is at risk when trading. Be careful.
Is ExpertOption A Scam? Is ExpertOption Regulated?
When looking for trusted CFD brokers, always ensure that they are regulated by honest regulatory authorities. Regulated brokers are more transparent than those that are not certified. In regard to ExpertOption, it is licensed by Financial Market Relations Regulation Center (FMRRC) and Vanuatu Financial Services Commission ( VFSC). However, the VFSC certification cannot be verified since there is no tangible evidence that they are licensed by this regulator. In addition, FMRRC is a non-governmental agency that was created for the primary purpose of regulating brokers.
Much as we cannot classify the extent of strictness of this two regulators, it is much better than the broker is regulated by them instead of being completely unregulated. In an effort to find out if there is any likelihood of ExpertOption scam, we found out that this broker has numerous negative reviews. These reviews are majorly in regard to their payouts decreasing and increasing whenever a trader makes a profit or a loss. That is, if you lose, the payout increases and if you win, it decreases.
The broker has bonuses that hinder you from withdrawing your money until you hit the required turnover. You cannot cancel the bonus, so you are forced to meet the turnover volume or lose all the money. Regardless of these downsides, we cannot qualify that this broker is a scam. Theirs is more of bad service and rigid terms than a scam.
Alternatives To ExpertOption
ExpertOption is regulated by two regulating bodies. Their strict terms and conditions accompanying their bonuses and the changing payouts may make the broker seem like they are a scam. Also, the fact that the strictness of the regulators cannot be quantified makes this broker a not so good one.
To be on the safe side, we would advise you to avoid this broker and instead consider IQ Option which is one of the most prominent brokers. Also, check out Plus500 review to understand how the broker operates. The two have exceptional customer support and offers a trading platform for CFD’s, Forex, and Cryptocurrencies.