Expert Option SCAM? | is Expert Option real or fake in 2024

Summary

This presentation delves into the trading platform Expert Option, examining its features, regulatory concerns, and user experiences. Founded in 2014, Expert Option offers low minimum deposits, free demo accounts, and a wide range of deposit methods. Despite lacking top-tier regulation and being unavailable in some regions, it boasts fast customer service and high returns of over 80%. The platform has gained popularity but faces skepticism from users transitioning from demo to real accounts. In conclusion, the platform isn't a scam, but users must be well-informed about the risks of trading.

Takeaways

• 📈 Expert Option, founded in 2014, has gained popularity in the trading world but is licensed by the SVG FSA, which isn't a top-tier regulatory body.
• 💼 The platform processes over 30 million trades monthly and was named the best trading platform in China in May 2017.
• 🤑 Expert Option attracts beginners with its low minimum deposits, free demo accounts, and educational materials.
• 💰 Users receive $10,000 in a demo account for practice, but there's a misconception that demo and real accounts are separate markets.
• 🔄 Losses on the real account after winning on the demo account are often due to the transition from practice to reality, not different market conditions.
• 🚫 The platform is not available in the USA, Canada, or EU countries and lacks regulation from reputable authorities, raising concerns for some.
• 💳 Expert Option offers a wide range of deposit methods, including wire transfers, credit cards, PayPal, and cryptocurrencies.
• ⏳ Withdrawals are processed within 2-3 days, though users report faster processing times on weekdays.
• 🎁 The deposit bonus cannot be withdrawn, but profits made using it can be. Bonuses range from $20 to $1,250 depending on the deposit size.
• 📞 The platform boasts 24/7 customer service and offers higher profit rates than many other brokers, with returns often exceeding 80% per trade.

Q & A

What is Expert Option and when was it founded?

Expert Option is a trading broker founded in 2014, offering trading services and software.

Which regulatory body licenses Expert Option?

Expert Option is licensed by the SVG FSA, which is not considered a top-tier regulatory authority.

Why is Expert Option gaining popularity among traders?

Expert Option is popular due to its low minimum deposit rates, free demo accounts, no transaction fees, a variety of cryptocurrencies, and educational materials that benefit beginners.

Are the demo account and real account markets different in Expert Option?

No, the demo and real accounts in Expert Option operate in the same markets, but transitioning from a demo account to a real account can feel different due to the psychological shift from practice to real money trading.

What are some downsides of using Expert Option?

Some downsides include the platform not being available in the USA, Canada, or EU countries, and its lack of regulation from more reputable authorities.

What types of deposit methods are available on Expert Option?

Expert Option offers various deposit methods, including wire transfers, Visa, MasterCard, Maestro, PayPal, Skrill, Netell, and many more. It supports both traditional and cryptocurrencies.

How long does it take for withdrawals to process on Expert Option?

Withdrawals on Expert Option are generally processed within 2-3 days, but users have reported faster processing times, especially if the request is made on a weekday.

Can the deposit bonus be withdrawn from Expert Option?

No, the deposit bonus cannot be withdrawn. It is strictly for trading purposes, but any profits made from trading with the bonus can be withdrawn.

What is one of the key reasons Expert Option is popular among traders?

One key reason for Expert Option's popularity is its high profit rate, with returns often over 80% per trade, significantly higher than most broker sites.

What is the importance of customer service on Expert Option?

Expert Option offers 24/7 customer service, which is responsive and typically answers within 24 hours, contributing to the platform’s appeal among users.