As a graphic designer, I understand the importance of making informed decisions. That's why when it comes to trading online, I choose Expert Option. With its user-friendly interface and powerful features, Expert Option has become my go-to platform for trading and investing. In this article, I'll be sharing my experience and providing a comprehensive guide on how to use Expert Option.
Before we dive into the details, let's first discuss what Expert Option is and why it's worth your time. Expert Option is an online trading platform that offers a wide range of financial instruments, including stocks, commodities, currencies, and cryptocurrencies. It's designed to be accessible to both beginners and experienced traders, with various tools and resources to help you make informed decisions. One of the standout features of Expert Option is its demo account, which allows you to practice trading with virtual funds and get a feel for the platform before investing real money.
How to Set Up Your Expert Option Account
The first step to using Expert Option is to create an account. To do this, simply visit their website and click the "Sign Up" button in the top right corner. You'll then be prompted to enter your email address and password. Once you've done this, you'll need to verify your email address by clicking the link in the confirmation email sent to you by Expert Option.
Verifying Your Identity
Before you can start trading on Expert Option, you'll need to verify your identity. This is a standard security measure that ensures the platform is used legally and ethically. To verify your identity, you'll need to provide some personal information, including your name, address, and date of birth. You'll also need to upload a copy of your government-issued ID, such as a passport or driver's license. Once you've submitted this information, it will be reviewed by Expert Option, and you'll be notified when your account has been approved.
Funding Your Account
Once your account has been approved, you can start funding it. Expert Option accepts a wide range of payment methods, including credit/debit cards, bank transfers, and e-wallets such as Skrill and Neteller. To fund your account, simply click the "Deposit" button on the main dashboard and choose your preferred payment method. Follow the on-screen instructions to complete the transaction, and your funds should be available in your account within a few minutes.
Using the Demo Account
Before you start trading with real money, I highly recommend using Expert Option's demo account. This allows you to practice trading with virtual funds and get a feel for the platform without risking any of your own money. To access the demo account, simply click the "Demo Account" button on the main dashboard. You'll then be given $10,000 in virtual funds to practice with. Use this opportunity to try out different trading strategies, learn how to use the platform's tools and resources, and build your confidence as a trader.
How to Trade on Expert Option
Now that you've set up your account and familiarized yourself with the platform, it's time to start trading. Here's a step-by-step guide on how to place a trade on Expert Option:
Choosing an Asset
The first step to trading on Expert Option is to choose an asset to trade. Expert Option offers a wide range of financial instruments, including stocks, commodities, currencies, and cryptocurrencies. To choose an asset, simply click the "Assets" button on the main dashboard and browse the available options. You can also use the search bar to find specific assets.
Setting Your Investment Amount
Once you've chosen an asset to trade, you'll need to set your investment amount. This is the amount of money you're willing to risk on the trade. To set your investment amount, simply enter the desired amount in the "Investment" box on the trading interface.
Choosing Your Trade Direction
Next, you'll need to choose your trade direction. You can either choose to go "Up" if you think the asset's value will increase, or "Down" if you think it will decrease. To choose your trade direction, simply click the "Up" or "Down" button on the trading interface.
Setting Your Trade Duration
Finally, you'll need to set your trade duration. This is the amount of time that your trade will be open before it expires. Expert Option offers various trade durations, ranging from 60 seconds to 15 minutes. To set your trade duration, simply choose the desired duration from the drop-down menu on the trading interface.
Four Expert Option Features You Need to Know
1. Social Trading
Expert Option's social trading feature allows you to follow and copy the trades of successful traders on the platform. This is a great way to learn from experienced traders and improve your own trading skills. To access the social trading feature, simply click the "Social Trading" button on the main dashboard. You'll then be able to browse and follow the profiles of successful traders.
2. Technical Analysis Tools
Expert Option offers a range of technical analysis tools to help you make informed trading decisions. These tools include charts, indicators, and trading signals. You can access these tools by clicking the "Technical Analysis" button on the trading interface. Use these tools to analyze market trends, identify potential trading opportunities, and make more informed trades.
3. Educational Resources
Expert Option offers a wide range of educational resources to help you improve your trading skills. These resources include video tutorials, webinars, and e-books. You can access these resources by clicking the "Education" button on the main dashboard. Use these resources to learn new trading strategies, understand market trends, and improve your overall trading knowledge.
4. Mobile App
Expert Option has a mobile app that allows you to trade on the go. The app is available for both iOS and Android devices and offers all the same features as the desktop platform. Download the app from your device's app store and log in using your Expert Option account details to start trading on the go.
In Conclusion
Expert Option is a powerful and user-friendly trading platform that offers a wide range of financial instruments and powerful features. By following the steps outlined in this guide and taking advantage of the platform's various tools and resources, you can become a more informed and successful trader. Whether you're a beginner or an experienced trader, Expert Option is definitely worth checking out.
| Pros | Cons |
|---|---|
| - User-friendly interface - Wide range of financial instruments - Powerful features - Demo account available - Educational resources | - Limited customer support options - Limited deposit and withdrawal options - No regulation by major financial authorities |