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ExpertOption Account Types

ExpertOption Account Types

 

 

Overall Rating

4.7/5

Rated #241 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

FSA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

ExpertOption provides six different account types e.g., Micro Account, Basic Account, Silver Account, Gold Account, Platinum Account, and Exclusive Account. Each account type has its own set of conditions for commission, margin call, and leverage, and minimum deposits.

Finding a reputable list about ExpertOption account types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.

 

ExpertOption Overview

ExpertOption is an online trading platform that was established in 2014 and allows the trade of a variety of financial instruments. Trading can be done either through the website or by downloading the application on a desktop or mobile device.

ExpertOption claims to execute more than 30 million deals each month and boasts with more than 37 million registered traders that make up its client base.

With ExpertOption, clients are a priority and thus, dedicated customer support is one of its key areas of focus. There are more than 100 appointed account managers that are experienced in ensuring that the needs of traders are adequately met.

ExpertOption also prides itself in providing services and solutions which are both reliable and simple. Through this, anyone can start trading, even individuals who have no prior experience, skills, or knowledge of the trading industry.

In addition to offering traders a vast number of options to trade, ExpertOption also offers traders the chance to partake in social trading with social groups which can be found on Facebook, Twitter, Instagram, and YouTube.

 

ExpertOption Account Types

ExpertOption offers traders a choice between six different accounts, offering traders, from beginners to professionals, with competitive trading conditions with features catered to their unique trading needs and objectives.

 

ExpertOption Account Features

 

Micro Account

This account type is designed for traders who are just starting out and would like a more subtle introduction into the financial markets without risking too much capital.

When making use of this account, traders can expect some of the following features:

  • Minimum deposit of $10.
  • Access to educational materials.
  • A maximum of 10 simultaneously open deals.
  • Maximum deal amount of $10.
  • Increased asset profit of 0.

 

Basic Account

This account caters to beginner traders who are still new to the industry, but who have gathered some skill, knowledge, and experience.

When making use of this account, traders can expect some of the following features:

  • Minimum deposit of $50.
  • Access to educational materials.
  • A maximum of 10 simultaneously open deals.
  • Maximum deal amount of $25.
  • Increased asset profit of 0.

 

Silver Account

Most traders start on this account type and it comes with the benefit of having free consultations in addition to the following features:

  • Minimum deposit of $500.
  • Access to educational materials.
  • Daily Market reviews as well as financial research
  • A maximum of 15 simultaneously open deals.
  • Maximum deal amount of $250.
  • Increased asset profit of 0.

 

Gold Account

The Gold account caters for smart investments and allows traders to gain the most from privileged features such as:

  • Minimum deposit of $2,500.
  • Access to educational materials.
  • Daily Market reviews as well as financial research.
  • Priority withdrawals.
  • A maximum of 30 simultaneously open deals.
  • Maximum deal amount of $1,000.
  • Increased asset profit by up to 2%.

 

Platinum Account

The Platinum account offers traders with ExpertOption’s best expertise as well as exclusive management. This account is tailored for serious and experienced investors only.

  • Minimum deposit of $5,000.
  • Access to educational materials.
  • Daily Market reviews as well as financial research.
  • Priority withdrawals.
  • No limit on the number of open deals
  • Maximum deal amount of $2,000.
  • Increased asset profit by up to 4%.

 

Exclusive Account

To obtain further information on this account, traders who are interested must contact their account manager. There is no minimum deposit indicated as this account is accessed per invitation only.

However, the features that traders can expect on this account are:

  • Access to educational materials.
  • Daily Market reviews as well as financial research.
  • Priority withdrawals.
  • No limit on the number of open deals
  • Maximum deal amount of $3,000.
  • Increased asset profit by up to 6%.

 

ExpertOption Demo Account

ExpertOption offers traders the option of opening a Demo Account which can be utilized in various ways, including, but not limited to the following:

  • A practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.
  • Traders who are evaluating and comparing brokers who would like to explore ExpertOption’ trading conditions in a risk-free environment, and
  • Traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.

 

ExpertOption offers traders a demo account that can be used to explore the platform as well as the broker’s offering. Traders are provided with virtual funds of $10,000 and allow traders to thoroughly explore or use the account as they see fit.

Another benefit of making use of an ExpertOption demo account is that sign-up is digital and can be completed in minutes, traders need not provide personal or contact information, and the demo account can be used for an unlimited time.

 

Overall Rating

4.7/5

Rated #241 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

FSA

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

ExpertOption Islamic Account

The purpose of an Islamic Account is that it caters specifically to Muslim traders who strictly follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

ExpertOption does not have the option for an Islamic Account as all the accounts offered are already Sharia-compliant in meeting all the strict regulations of the Islamic faith.

None of the accounts provided are charged with interests, providing Muslim traders with a variety of account options according to their trading needs, objectives, styles, and experience.

In addition, due to the fact that all account types are Sharia-compliant, there are no additional fees that are charged. Brokers often charge extra fees such as wider spreads, additional commissions, or administration fees to offset the absence of overnight fees.

 

Pros and Cons

✔️ PROS ❌CONS
Regulated Islamic account not offered
The user-friendly trading platform offered Extraordinarily little information on the fee schedule
Variety of accounts
Demo account offered
All accounts are Sharia-compliant

 

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ExpertOption at a Glance

Broker’s Name ExpertOption
Headquartered St. Vincent and the Grenadines
Year Founded 2014
Regulating Authorities SVG FSA
Countries not accepted for trade United States
Islamic Account (Swap Free) No – all accounts are Sharia-compliant
Demo Account Yes
Institutional Accounts No
Managed Accounts No
Maximum Leverage 1:500
Minimum Deposit $10
Deposit Options
  • Credit/Debit Cards
  • Cryptocurrency wallets
  • UnionPay
  • WebMoney
  • Neteller
  • Skrill
  • Perfect Money
  • Qiwi
  • Fasapay
  • Yandex Money
Withdrawal Options
  • Credit/Debit Cards
  • Cryptocurrency wallets
  • UnionPay
  • WebMoney
  • Neteller
  • Skrill
  • Perfect Money
  • Qiwi
  • Fasapay
  • Yandex Money
Platform Types ExpertOption proprietary trading platform
OS Compatibility Windows, Linux, macOS, web browsers, Android, iOS
Tradable Assets
  • Forex
  • Stocks
  • Cryptocurrencies
  • Commodities
Languages supported on Website English
Customer Support Languages Multilingual
Customer Service Hours 24/7

 

FAQ’s

 

Trading Environment

 

How many instruments can I trade with ExpertOption?

You can trade the following financial instruments:

  • Forex
  • Stocks
  • Cryptocurrencies
  • Commodities

 

Which platforms are supported by ExpertOption?

ExpertOption offers the use of its own proprietary trading platform which can be used on web browsers, desktop, and mobile devices.

 

Does ExpertOption offer leverage?

Yes. Traders have access to leverage up to 1:500.

 

What spreads can I expect with ExpertOption?

ExpertOption does not charge spreads.

 

Does ExpertOption charge commission?

No. ExpertOption does not charge commissions.

 

Are there additional charges on the Islamic account?

No. There are no additional fees charged as all account types are Sharia-compliant.

 

Is ExpertOption regulated?

Yes. ExpertOption is regulated by SVG FSA.

 

Is ExpertOption a recommended forex trading broker for experts and beginners?

Yes. ExpertOption caters to both beginners and experts.

 

What is the overall rating out of 10 for ExpertOption?

9/10.

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

 

Does ExpertOption offer a demo account?

Yes.

 

For how long is the demo account valid?

The ExpertOption demo account can be used indefinitely.

 

Does ExpertOption offer the option of an Islamic Account?

No. All account types offered are Sharia-compliant and halal.

 

Which live trading accounts does ExpertOption offer?

  • Micro Account
  • Basic Account
  • Silver Account
  • Gold Account
  • Platinum Account, and
  • Exclusive Account

 

What are the available deposit currencies for a live trading account?

  • USD
  • EUR
  • GBP, and more

 

Deposits and Withdrawals

 

What is the minimum deposit for ExpertOption?

$10.

 

How do I make a deposit and withdrawal with ExpertOption?

  • Credit/Debit Cards
  • Cryptocurrency wallets
  • UnionPay
  • WebMoney
  • Neteller
  • Skrill
  • Perfect Money
  • Qiwi
  • Fasapay
  • Yandex Money

 

Does ExpertOption charge withdrawal fees?

No. ExpertOption does not charge withdrawal fees. However, the trader’s financial institution may charge transaction fees.

 

How long does it take to make a withdrawal?

This will depend on the payment method used. Payments can reflect instantaneously or take up to several days.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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