ExpertOption offers 2 account types, a demo account and a real account. With the demo account, you’re not required to go through any registration or verification process. To get started, click here and you’ll begin trading right away.
Opening a real trading account with ExpertOption
Although the demo account allows you to test drive the ExpertOption platform, you cannot withdraw your earnings since you’re trading with virtual cash. Opening a real account allows you to make profits and eventually withdraw them. To open a real account, follow these steps:
- Click on the green pen real account’ button at the top right of your trading interface.
- On the pop-up window that appears, enter your registration details. It could be your email, Facebook, or Google account. Next, enter a strong password.
- Click on the accept terms and conditions’ checkbox and complete by clicking on the pen Account’ button.
Once you’ve done this, your real account will be open. However, you’ll need to activate it by going to the email address you provided and clicking on the confirmation link ExpertOption sends you.
Your account is now active. But there are two more steps you’ll need to follow before you can actually trade with real money or withdraw earnings. These steps are verifying your Expert Option trader identity and, making your first ExpertOption deposit.
Using the moving average technical indicator to trade on the ExpertOption platform
ExpertOption provides several tools and indicators that make it easy to trade and make profit on the platform. One of my favorites is the moving average. This technical analysis tool appears as a green line that moves in the same direction as the price movements. It shows you the average price of the assets being traded over a period of time.
The moving average comes in handy in several ways. First, it gives me an idea about the upper and lower price limits for a specific asset I’m trading in. Knowing these limits allows me to predict a good strike rate when before trade entry. Second, the moving average gives me a good idea about how the price trend has been moving over a specific amount of time. This makes it easier to predict which times are best to enter into profitable trades.
Here’s how to use it:
On the trading interface, start by clicking on the indicators’ icon at the top of your screen. It’s right next to the asset
type you’re trading.
On the pop-up screen click on moving average’ under new indicators.
You can customize your moving average indicator by choosing the average period it covers, the color, type and width. But for this example, I won’t make any customizations.
Click on apply’ and the moving average line appears on your screen.
Now, I will usually study the price movements for a few minutes. Just to see if I can identify a trend.
If I notice that the moving average line cuts below the price movement indicator at around a specific price point, I’ll use this as my strike price (or something lower than this). Then I’ll click on the p’ button. Why? If I’d checked previous trends where the moving average line cut below the price indicator and the price stayed above that price for some time, chances that this scenario will repeat itself is likely. It means that I expect the price to remain higher than my strike price by the time my trade expires.
On the other hand, if the moving average line cuts above the price movement indicator and remains above it for some time, I’ll click on the down button.
ExpertOption provides more information about using moving averages and other tools in their education section.
Guide to getting your ExpertOption trading account verified the first time
In the previous guide, we covered how to open your ExpertOption real trading account. I mentioned that one of the things you need to do in order to trade and withdraw profits is to verify your identity.
This requirement allows ExpertOption confirm that it’s a real person who genuinely wants to trade on the platform as opposed to money launderers using their accounts to move money around the web. Account verification also helps to protect your funds. If an unauthorized person tries to withdraw money from your account, it will not be possible unless they provide the necessary verification details.
Account verification involves the following steps:
On your trader interface, click on finances and then withdrawal.
Next, click on the confirm information button.
ExpertOption will then request that you upload:
Images of your ID (both front and back)
Photo of your Visa card if you’re going to use if for your transactions
Since photos are required, make sure that they’re clear and every detail is visible. Make sure that all names and characters can be easily read.
Next, fill in your email, address and any other additional information requested for
Finally, click on save changes’ and then submit
ExpertOption account verification will take 1 to 3 days. Once your account is verified, ExpertOption will send you a confirmation email.
Making a profit on ExpertOption by copying successful traders
One of the features that make ExpertOption stand out is the social feature. It allows you to follow and copy successful traders in real time. This is regardless of the other trader’s location across the globe. This is a great tool especially if you’re new to options trading or simply don’t want to go through the process of researching an asset before trading in it.
This feature also makes it easy to enter and exit trades in the same way as traders you’re following in real time. If their trades make a profit, so will your trades. Here are the steps to follow:
- On your trading account, click on the social’ icon at the right side of your trading interface
- This opens a window that shows the number of traders online, opened deals, and traders who are speculating on the same asset as you. You’ll also discover the number of traders entering deals and total volume being traded in real time. This way, you can predict whether to enter an up’ position or down’ position based on what other traders are doing.
- Once you’ve seen the deals other traders are making and even the amounts they’re trading with, all you need to do is copy their moves.General Risk Warning! your capital may be at risk