First a Mini Review of the ExpertOption Platform
ExpertOption is a new binary options trading platform that offers Vietnamese traders the opportunity to make money online. Being relatively new, it’s hard to say that traders are making huge amounts of cash on it. However, seasoned traders will appreciate the up to 96% effective returns on successful traded provided on the platform.
If you’re in Vietnam and thinking about joining this platform, this mini review will tell you a little about expert option.
What is ExpertOption?
It’s an online binary options broker. This means that you can speculate whether the price of an asset will rise or drop over a specific period of time. If you speculate correctly, you’ll make a profit. If your speculation is incorrect, you’ll lose the amount you staked.
ExpertOption is fully regulated by the FMRRC which is a Russia based independent regulatory body.
Types of accounts provided by ExpertOption
Depending on your trading experience and amount you wish to invest, you can choose among 4 different accounts
ExpertOption mini account
The minimum deposit needed to open an account is $50. Converted to Vietnamese currency, it’s still quite low. This account comes with a 50% bonus and a personal account manager. You’ll also benefit from a personal trading session and weekly bulletin boards.
The minimum deposit needed to open a silver account is $250. Upon opening your account, you’ll get an 80% bonus and a personal manager. There’s also 2 training sessions.
This account requires a minimum deposit of $1000 and attracts a 100% deposit bonus. You’ll also get a personal manager, 4 daily training sessions. Gold account holders also get special withdrawal privileges (withdrawals are processed faster).
This account requires a minimum deposit of $25000 and attracts a 125% deposit bonus. One privilege of this account type is that you’re allowed to manage it personally. You’ll also have expedited withdrawals, access to daily economic analysis and attend expert option training lessons.
In addition to the 4 real accounts, ExpertOption also provides a demo account credited with $10000 virtual cash. This makes it easier to get the feel of the platform without having to invest your own cash. Of course, each of the real account types has its advantages and disadvantages. It’s therefore recommended you first learn how to use the platform safely using a demo account. In addition, if you’re still new to options trading, it’s recommended you first start with the account with the smallest deposit amount. Once your confidence and trading expertise grows, you can always move to a larger account type.General Risk Warning! your capital may be at risk
ExpertOption is one of the binary options platforms that are easy to trade on. The trading interface is well laid out and easy to navigate. It features easy to understand icons which direct you to different areas of your account such as payment processing, technical indicators and many more. Trade entry is also quite simple. All that you need to do is click on an up’ or down’ button. All these features make it easy to identify a price trend and enter trades fast. If you’re a beginner trader and want to get started with this platform fast, this guide will help you.
Once you’ve logged in to your account, the first thing to do is select the assets you want to trade. These range from commodities like Brent oil to currency pairs. To do this, click on the trade’ icon at the top left of your interface.
Next, you can customize your trading screen by choosing the chart type, indicators to use, drawings and other additional features. However, it’s best to use simple charts and tools like moving averages until you’re more of an expert trader.
Once you’ve done this, your interface should have at least a price movement line that’s moving towards the right hand side of your screen. Watch its movement.
Select the amount you want to trade with and the amount of time you wish to hold your position. Then, select the strike price. Simply put, if you select p’ on trade entry, you expect the price to be above the strike price on trade expiry. If you choose own’ on trade entry, you expect the price to be lower than the strike price on trade expiry.
Once you’re done, click on either the up’ or down’ button.General Risk Warning! your capital may be at risk