Expert Option Islamic Account Review

Since 2014, Expert Option broker has been a leading Digital Options broker in most countries. Their trading platform, available in over 150 countries, boasts more than 30 million registered traders and continues to grow daily. The platform offers over 100+ trading assets, including commodities, forex, cryptocurrencies, and stocks. In addition to Mac and Windows versions, Expert Option also has a mobile version compatible with iOS and Android devices. For added convenience, the trading platform can also be accessed through web browsers, providing a variety of access points for trading.

The Expert Option Islamic Account is a unique trading account type offered by Expert Option, an online trading platform. This account type is designed specifically for Muslim traders, adhering to the principles of Islamic finance. It is also known as a “swap-free” account because it does not accrue any interest, in compliance with the Islamic prohibition of Riba (usury or interest). It ensures that Muslim traders can participate in online trading without compromising their religious beliefs. This account type offers all the standard features of a regular trading account, enabling users to trade a variety of assets including forex, commodities, and stocks.

Expert Option Review Islamic Account

Expert Option Review Islamic Account

Expert Option Account Types

  • Micro Account: Perfect for beginners or those wanting to test the platform without a large investment, the Micro Account from Expert Option requires just a $10 minimum deposit. Users can still access all platform features and tools despite this low deposit.
  • Basic Account: As an entry-level account, the Basic Account requires a $50 minimum deposit and grants access to most of the platform’s features, including educational resources and round-the-clock customer support. However, certain advanced features may not be available.
  • Silver Account: With a $500 minimum deposit, traders can upgrade to the Silver Account, which includes all Basic Account features and additional educational resources, quicker withdrawal times, and more.
  • Gold Account: The Gold Account, requiring a $2,500 minimum deposit, offers perks like priority withdrawal and increased asset profit compared to lower-tier accounts.
  • Platinum Account: Requiring a $5,000 minimum deposit, the premium Platinum Account offers the highest level of service, including all lower-tier account features, plus a personal account manager, and exclusive strategies and analytics access.
  • Exclusive Account: The Exclusive Account is Expert Option’s top-tier and is available only through a personal invitation from the team. The minimum deposit and benefits for this account are not publicly disclosed.

expert option account types

Expert Option Demo Account

An Expert Option Free Demo Account is a feature offered by the online trading platform, Expert Option. This feature is designed to allow potential traders to explore and understand the functionalities of the platform without risking real money. It is a simulation of the actual trading environment where users can practice various trading strategies, learn how to analyze market trends and familiarize themselves with the platform’s interface. The demo account comes pre-loaded with virtual funds, allowing users to gain hands-on experience in real trading scenarios. It is an invaluable resource for both beginners and seasoned traders to refine their trading skills and strategies.

Expert Option Islamic Account

Expert Option Islamic Account is a special type of trading account offered by the brokerage firm, Expert Option. This account is specifically designed for Muslim traders who want to trade in compliance with the principles of Islamic finance. It adheres to the concept of Sharia law, which prohibits the earning of interest or “Riba”. With the Expert Option Islamic Account, Muslim traders can engage in online trading without compromising their religious beliefs. This type of account eliminates any form of hidden fees or interest charges, ensuring a transparent and ethical trading environment.

Instruments

With an Expert Option Islamic Account, you can trade a variety of instruments. This includes:

  • Forex: This is a popular choice for many traders. Forex trading involves trading different currencies against each other.
  • Commodities: This includes trading physical goods like gold, silver, oil, natural gas, and agricultural products.
  • Stocks: You can trade stocks from a wide range of global companies.
  • Indices: These are a collection of stocks that represent a certain market or a portion of it.
  • Cryptocurrencies: Expert Option Islamic Account also allows you to trade in popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
  • ETFs: Exchange-Traded Funds are also available for trading with this account. They are investment funds traded on stock exchanges, much like individual stocks.

Please note that due to the Sharia law prohibiting Riba (interest), Islamic trading accounts do not incur or pay swaps or interest on positions held overnight. They are also known as swap-free accounts.

How to Get Started with Expert Option Islamic Account

  • Registration: The first step is to register an account with Expert Option. Visit their website and click on the ‘Register’ button. Fill in your details, including your full name, and email address, and create a password.
  • Verification: After registration, you will need to verify your account. This typically involves providing identification documents for KYC (Know Your Customer) purposes. Make sure to use a valid ID and ensure that your name matches the one on your Expert Option account.
  • Choose an Islamic Account: Once your account is verified, you can choose the Islamic Account option. This account type does not have any hidden payments or interest charges, under Islamic law.
  • Deposit: The next step is to deposit funds into your account. Expert Option provides a variety of deposit methods, including credit cards, e-wallets, and even cryptocurrencies. Choose the one most convenient for you.
  • Start Trading: With your account set up and funded, you can now start trading. Expert Option offers a wide range of assets to trade, including stocks, forex, commodities, and cryptocurrencies.
  • Education and Support: If you’re new to trading, take advantage of Expert Option’s educational resources. They offer a variety of articles, video tutorials, and even personal consultants to help you understand the trading process and make informed decisions.
  • Withdrawal: When you’re ready to withdraw your earnings, Expert Option platform provides a simple withdrawal process. Just submit a withdrawal request and your funds will be transferred back to your deposit method.

Remember, trading involves risk and it’s important to only trade with money you can afford to lose. Take the time to understand the platform, the markets, and the trading process before you start. If you have any questions, Expert Option’s customer service is available 24/7 to assist you.

Expert Option Trading Platforms

Desktop App

  • Interface Usability: The desktop application of Expert Option is designed with a user-friendly interface for easy navigation through various trading options and tools.
  • Asset Diversity: It provides access to a wide range of assets for trading, including stocks, commodities, indices, and different currencies.
  • Live Market Updates: The app offers real-time market data, allowing traders to make decisions based on current market trends and movements.
  • Technical Tools: The application provides several technical analysis tools, including charts, indicators, and drawing tools for predicting future market trends.
  • Demo Account: It includes a demo account feature for users to practice trading strategies with virtual money before investing actual funds.
  • Learning Resources: The app offers a variety of educational materials, like video tutorials, webinars, and e-books, to help users understand trading concepts and strategies.
  • Customer Assistance: Expert Option provides round-the-clock customer support through the app for any queries or issues.
  • Security Measures: The app has robust security features, including SSL encryption and two-factor authentication, to protect user data and transactions.
  • Multilingual Support: The desktop app is available in multiple languages, catering to traders worldwide.
  • Fast Withdrawal: It offers a quick and easy withdrawal process for traders to cash out their earnings.
  • Personalizable Interface: The app’s interface can be customized according to user preferences for a more comfortable and personalized trading experience.
  • Market Alerts: The application provides real-time notifications and alerts about market changes, helping users stay updated and react quickly to market volatility.
Expert Option Trading Platforms

Mobile App

The Expert Option mobile trading app allows you to trade from anywhere. This platform boasts a user-friendly interface, real-time trading, and an extensive selection of assets. It caters to both beginners with a demo account, and experts with advanced charting tools, along with swift withdrawal options. The app supports several languages, and prioritizes user safety. Additional features include educational resources, round-the-clock customer support, and social trading. Users can also customize alerts for specific asset price movements. It’s available for download on both iOS and Android devices.

Expert Option Islamic Account

Expert Option Islamic Account – Trading Tools

Expert Option provides a wealth of advanced tools and features to enrich your trading experience. Here are some key tools available on Expert Option:

  • Technical Indicators: These are crucial for any trader. They aid in analyzing and predicting future market movements based on historical data. Expert Option offers a range of technical indicators such as Moving Averages, Bollinger Bands, RSI, and Stochastic Oscillator, among others. These tools can guide traders on when to enter or exit a trade.
  • Real-time Market Data: A significant benefit of trading with Expert Option is the access to real-time market data. This allows traders to monitor and respond to market changes instantly, enabling decisions based on the most recent information.
  • Charting Tools: Expert Option platform provides advanced charting tools to help traders visualize market trends and patterns. These tools allow traders to view price movements in various formats like line charts, bar charts, or candlestick charts. Traders can also customize their charts with different time frames, colors, and indicators.
  • Social Trading: Expert Option broker also features social trading, enabling traders to follow and replicate the trades of experienced investors. This is especially helpful for beginners who are still learning about the market. By copying the trades of successful traders, they can potentially boost their chances of making profitable trades.

In conclusion, Expert Option trading offers an extensive array of trading tools, including technical indicators, real-time market data, advanced charting tools, and social trading features. These tools can aid traders at all levels to refine their trading strategies and potentially amplify their profits.

Expert Option Deposit Options

  • Credit/Debit Card (Visa, MasterCard): This option is one of the most popular ways to deposit funds. The processing time is usually instant, which means the funds will be available in your trading account immediately after the transaction is approved.
  • E-Wallets (Skrill, Neteller, Perfect Money, FasaPay, etc.): These platforms offer a quick and easy way to transfer funds. Like credit/debit cards, the processing time is also instant once the transaction is validated.
  • Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.): Expert Option also allows deposits in various cryptocurrencies. The processing time for this method can vary depending on the network speed of the specific cryptocurrency. However, it is usually completed within 10 to 30 minutes.
  • Wire Transfer: This is a traditional method of transferring funds. It is secure but can be slower compared to other methods. The processing time can take anywhere from 1 to 5 business days, depending on the bank’s processing times and the country of origin.
  • Local Payment Methods: Depending on your location, Expert Option may offer specific local payment methods. The processing time for these options can vary greatly, so it’s recommended to check the specific details for your region.

It’s important to note that while Expert Option broker doesn’t charge any deposit fees, there might be fees charged by your bank or e-wallet provider. Always make sure to check any potential fees before making a deposit.

The Expert Option minimum deposit amount required depends on the type of account.

  • For the Micro account, the minimum deposit is $10.
  • The Basic account is $50.
  • The Silver account requires at least $500.
  • The Expert Option minimum deposits for Gold and Platinum accounts are considerably higher, standing at $2,500 and $5,000 respectively.
Expert Option Payment Methods

Expert Option Withdrawal Options

Here are the different withdrawal options provided by Expert Option with their respective processing times:

  • Credit/Debit Card: This is one of the most common withdrawal methods. It’s known for its convenience, as it allows the funds to be sent directly to the card. Usually, the processing time for card transactions can take up to 5 business days, depending on the bank’s processing time and rules.
  • E-Wallets: Expert Option supports several e-wallets like Neteller, Skrill, Perfect Money, FasaPay, and more. The withdrawal time for e-wallets is usually quicker than card transactions and can take up to 2 business days.
  • Cryptocurrencies: Expert Option also supports withdrawal in various cryptocurrencies like Bitcoin, Ethereum, Litecoin, and others. The processing time for cryptocurrency withdrawal can take up to 3 business days.
  • Wire Transfer: This traditional method of fund transfer is also supported by the Expert Option. However, it’s important to note that wire transfers often take the longest time to process, and it may take up to 10 business days for the funds to reflect in your account.

Your account type can also influence the processing time. VIP account holders usually have priority in withdrawal processing, which means they get their funds quicker than Standard account holders. The Expert Option minimum withdrawal amount is $10, regardless of the chosen method. This low withdrawal minimum enables traders to access their funds without needing a large balance, making the platform accessible for traders of all levels.

Before proceeding with any withdrawal, make sure you have completed the necessary KYC (Know Your Customer) procedures and ensure that your account is fully verified to avoid any delays. Always check the terms and conditions of withdrawals to understand any possible fees or limits on transactions.

Is Expert Option Islamic Account Halal?

The Expert Option Islamic Account is halal. It is specifically designed to comply with the principles of Islamic law about business and finance. This trading account eliminates elements like Riba (interest) and Gharar (uncertainty), which are prohibited in Islam. The account is swap-free and does not accrue any interest, ensuring it adheres to the concept of Halal, which means permissible under Islamic law. This allows Muslim traders to engage in online trading while following their religious beliefs.

Is Expert Option Legit?

Expert Option is legit. The binary options broker provides a platform for financial trading, recognized and authorized by multiple regulatory bodies globally. This broker offers a variety of financial assets for trading, including stocks, commodities, indices, and cryptocurrencies. It features a user-friendly interface, advanced trading tools, and educational resources, making it an ideal choice for both novice and experienced traders. Moreover, Expert Option is known for its transparency, security, and swift execution of transactions, ensuring a reliable and smooth trading experience for its clients. Their platform also allows users to engage in social trading, which enables them to follow and replicate the strategies of successful traders.

Expert Option is a legal binary options broker

Expert OPTIOn Review Islamic Account – Conclusion

In conclusion from this Expert Option review, the Expert Option Islamic Account is a great offering that caters to the needs of Muslim traders who must abide by the rules of Sharia law. With this account, they can access the financial markets under terms that are compliant with their religious beliefs. This not only expands the inclusivity and accessibility of online trading but also ensures that the platform respects and accommodates the diverse needs and requirements of its global users.