Today’s review is about a binary options trading platform called Expertoption.money. Expertoption.money has been around since October 2018 and is heavily promoted using Google ads.
The minimum deposit to get started with Expert Option Money is $10. While these trading platforms make users think they will make money always, chances of losing all your money is nearly 100%.
Equipped with this information (Expertoption.money will not tell you this), you can decide (obviously after reading this review) whether this platform is for you or not.
There are a few things to keep in mind before you can start trading binary options. The first thing to know is that binary options are controversial and almost illegal in the US.
The reason why this is so is because binary options are often a zero sum game between the broker and the trader. Because the broker owns the facility, they have all the mechanisms needed to trade against you.
On the other hand, you as the trader can make money now and then but that does not mean you will enjoy profits in the long run.
While we discourage trading with a website like Expertoption.money, those of you who want to proceed must keep in mind the following things:
- Expertoption.money accepts $10 as minimum deposit and minimum withdrawal
- Expertoption.money withdrawal time is 2 days
- Expertoption.money does not accept traders from the US, Canada, Switzerland, European Economic Area, Australia, North Korea, Singapore and many other countries
- It is located in Saint Vincent and the Grenadines but not regulated.
- Trading is done between you and the broker or on a simulator
- Profits can be up to 95% of the value of your bet
Expertoption.money review: Why you should avoid this site
Generally speaking, trading binary options is not a reliable way of making money. There’s no strategy in the world that can beat a broker in this game and the reason is quite obvious;
The broker owns and controls every part of the website. If they let you win at all time, they’ll eventually close business because their profits are your losses. Therefore they can’t afford to keep you around for a long time.
Secondly, Expertoption.money is offering a financial product. Websites or companies offering financial services need a regulator’s license.
If a broker is offering financial services yet they don’t have a license, they are running an illegal service.
The one on the disadvantageous side is the trader because in case the company goes under, you won’t be compensated and secondly, brokers like Ogam Forex, Nexo-group and many others who are unregulated tend to mishandle their customers because they have nothing to lose.
For that reason, you shouldn’t trade with a broker like Expert Option Money or any other unregulated broker.
No trader has made money with Expert Option Money
Well, this can sound like a debatable statement but the truth is that nobody has ever made money consistently with a broker like Expert Option. Binary options business model is to blame. We’ve just said if you make a profit, the broker losses. Common sense should tell you that a broker will always make you lose your deposit in order for them to stay in business. It is never about your trading strategy because even traders with the best trading strategies have never made any money through these financial instruments.
Our Expertoption.money review closes by warning traders not to waste their time on this platform. If you want to make money, you should find a good Forex broker or a Crypto exchange.
When you have found a regulated Forex broker for example, you should take advantage of these automated trading tools. Thanks for reading our Expertoption.money review.