ExpertOption provides a FREE demo account which doesn’t require making a deposit. As members of Mike’s manual signals group know, I recommend that most traders who are newbies, begin their trading career with 1-2 weeks of trading using a free demo. This way they can be sure that trading is suitable for them without risking any money. Also, they can practice using our signals so that when they start using real money, they know how to do it well. You don’t want to lose a trade because you failed the read the signal correctly.
Until recently, I was recommending IQ Option as the best choice of a broker who provides a free demo account. However, since they have very strict regulation, they have stopped accepting traders from many countries, including the US, Australia, Canada, Japan, Russia, France, Belgium and many other countries. Therefore, a need has arisen for a broker who is open for everyone and that provides a free demo. I believe Expert Option is the answer to that need!
ExpertOption detailed review
ExpertOption.com was created 9 years ago, on October 2, 2007. It’s very popular on social networks, especially Facebook and Google Plus. According to Alexa, it’s ranked #104,735 worldwide and it enjoys the greatest popularity in the following countries: Russia (almost 20% of the visitors are Russians), Laos, Luxembourg, India and Thailand.
ExpertOption is regulated by the FMRRC (Financial Market Relations Regulation Center). That’s the most important consideration when signing up with a broker. Here are some other advantages of Expert Option:
- They pay up to 95% returns on investment, unlike IQ Option which offers 92% maximum.
- $10 minimum deposit for opening a real account. $10 minimum withdrawal as well.
- Withdrawals are processed within 2 business days.
- $1 is the minimum trade amount
- $10,000 free demo account is available which doesn’t require making a deposit
- Web-based platform which can be used on any type of computer; no downloads necessary
- iPhone and Android apps available
- Technical analysis tools are provided inside the trading platform, including simple moving average 8, 15 and 30 and the alligator indicator.
- Great educational material on fundamental analysis, graphical analysis, the psychology of trading and strategies.
- Customer service is available in at least 6 languages (English, Chinese, Thai, Russian, Hindi and Sinhala) via phone, a contact form and email. They offer support via live chat.
- Deposits and withdrawals can be made via credit cards, Qiwi Wallet, Yandex Money, Skrill, Neteller and WebMoney among other methods.
Currency pairs – EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CNH, USD/HKD, AUD/CAD, AUD/USD, USD/ZAR, USD/TRY, EUR/GBP, EUR/CHF, CAD/CHF, USD/CAD, EUR/AUD, NZD/USD, CHF/JPY
Indices – S&P 500, NASDAQ, Dow Jones, DAX 30, FTSE 100
Commodities – Oil and Gold
Stocks – Google, Facebook, Apple
Review of reviews
Before I end this review, let’s take a look at what some other reviewers are saying about ExpertOption.
BestBinaryTradingBrokers.com: “Expert Option has plenty to offer as a binary options trading broker. Their easy to use trading platform includes plenty of useful analytical tools and there is a good variety of account available to suit the needs of a variety of traders. Their streamlined withdrawal and deposit systems also make Expert Option a good choice for those who wish to get their hands on their profits in rapid time and with a good choice of contact methods, communicating with customer services couldn’t be easier.”
BinaryOptionsTrading-Review.com: “If you’re not an experienced trader, opening a demo account is always a wise decision when you start trading with a new broker. ExpertOption demo account has everything it needs to have to become an important tool for all traders, but what sets it apart from all other similar accounts is its simplicity. It is simple to use and extremely simple to open, so you really shouldn’t skip it. After you see what this broker has to offer, we are sure you will want to open a real trading account with them, as well.”
So what’s your opinion regarding ExpertOption? Will you try the demo?