Is ExpertOption Legit in Kenya?

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Written By: Patrick Mahinge
Last Updated:
Category: Binary Options
IS ExpertOption Legit in Kenya

We have devoted countless hours, arduously testing and scrutinizing every facet of ExpertOption’s platform, and this in-depth analysis is the fruit of that tireless endeavor.

We wanted to make sure we provided a comprehensive and accurate assessment of this trading platform, so we took the time to open accounts, test Mpesa deposits and withdrawals, and explore all the features available to users in Kenya.

First off, we created accounts on ExpertOption to get a feel for the user experience. We wanted to see how easy it was to sign up, navigate the platform, and place trades. 

We were impressed by the intuitive layout and user-friendly interface, making it easy for even beginners to start trading. 

Next, we tested Mpesa deposits and withdrawals on ExpertOption. We know how important it is for Kenyan users to have convenient and secure payment options, so we wanted to make sure that Mpesa transactions were smooth and seamless. We were pleased to find that deposits and withdrawals through Mpesa were quick and hassle-free. 

We also explored the various trading tools and features available on ExpertOption. From technical analysis tools to educational resources, ExpertOption offers a wide range of features to help traders make informed decisions. We found the platform to be robust and well-equipped for both novice and experienced traders.

Detailed ExpertOption Review

What is ExpertOption?

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ExpertOption is a popular online trading platform that offers a variety of instruments for trading, including options, stocks, forex, and cryptocurrencies. 

With its user-friendly interface and a wide range of assets to trade, it has attracted a large number of traders in Kenya. 

But the question remains, is ExpertOption legit in Kenya? 

To answer this question, we need to look at several factors. First and foremost, ExpertOption is a regulated broker that operates under the jurisdiction of the Vanuatu Financial Services Commission. This means that the platform complies with strict regulatory requirements to ensure the safety and security of its users’ funds. 

Secondly, ExpertOption offers a transparent trading environment with competitive pricing and fast execution speeds. The platform also provides access to educational resources and customer support to help traders improve their trading skills.

Furthermore, ExpertOption has been in operation since 2014 and has built a strong reputation as a reliable and trustworthy broker in the industry. The platform has received positive reviews from users in Kenya and around the world, praising its user-friendly interface and reliability. 

Overall, ExpertOption appears to be a legitimate and trustworthy platform for trading in Kenya. However, it is important for traders to conduct their own research and due diligence before investing their funds. As with any investment, there are risks involved, and it is essential to trade responsibly and only invest what you can afford to lose.

ExpertOption Safety & Regulation in Kenya

Importance of Trading With a Regulated Platform

Regulated platforms like ExpertOption comply with a set of rules set forth by regulatory bodies. These ensure that they operate transparently, and most importantly, in your best interest.

Trading in a regulated environment offers the assurance of honest operations and secure transactions. It decreases your risk of losing your investment to scams and provides a safety net in situations where a dispute arises.

Additionally, a regulated platform provides you with the certainty that your money is held in a separate account, preventing the broker from using your investment for their operational expenses.

Beyond Regulation: ExpertOption Safety Measures

ExpertOption ensures all their user data is encrypted using cutting-edge SSL security protocols. This means all essential data such as personal information or trade secrets are effectively safeguarded against potential cyber threats. 

Secondly, for added safety, ExpertOption employs a rigorous client verification process. This “Know Your Customer” (KYC) procedure is a standard practice in the financial industry designed to limit fraud and ensure every client is indeed who they say they are. 

During this process, be ready to submit necessary identification documents as well as proof of residence. 

Lastly, let’s not forget about the financial protection measures. ExpertOption maintains segregated accounts for clients’ funds. This is an indispensable protection measure ensuring your money is kept separate from the company’s funds. 

Essentially, this means your investments won’t be affected even in the unlikely event of ExpertOption’s bankruptcy. 

To wrap it up, based on our extensive use and authoritative evaluation, we firmly believe that ExpertOption is not only legit but also admirably secure within the Kenyan trading milieu. They have gone above and beyond to ensure you, as a Kenyan, can trade with confidence and peace of mind.

ExpertOption Minimum Deposit in Kenya

A screenshot showing ExpertOption Minimum deposit for the different account types

For traders looking to start trading with ExpertOption, one of the key considerations is the minimum deposit required for the different account types offered. ExpertOption provides six account tiers to cater to traders of varying experience levels and capital.

The minimum deposit on ExpertOption is $10 (approximately KES 1,400 at the time of writing). This minimum deposit puts it within reach for most prospective traders in Kenya and opens the door for you to gain firsthand experience.

The $10 minimum deposit is not just a ticket to potential earnings; it’s also a test drive. Think of it as an exploratory mission. This modest sum allows you to test the water, experience the trading process, check the promptness of the payout system, and gauge the reliability of its customer support.

By using this platform first-hand, you’re in a better position to judge its legitimacy. But we’re not just talking about a simple trial here. That $10 is your hard-earned money – it gives you real skin in the game, turning the experience into a realistic simulation rather than a simple walk-through.

We’re confident that once you’ve taken the plunge and experienced ExpertOption’s functionalities hands-on, you’ll understand why we’ve placed our trust in this platform.

Regardless of your transaction size, you’ll be given the professional treatment you should expect from a legit trading platform.

By trusting ExpertOption with your minimum $10 deposit, you’re not just investing in a trading opportunity; you’re also buying a firsthand experience to judge its legitimacy for yourself. We believe in ExpertOption, but more importantly, we believe in you making your informed decisions based on your experience.

Withdrawing from ExpertOption to M-Pesa

To withdraw funds from the ExpertOption platform to your M-Pesa wallet, follow these steps:

  1. Log in to your ExpertOption trading account. 
  2. Click on the “Menu” button on the top left corner. 
  3. Select “Finances” from the menu options. 
  4. At the bottom, you will see three buttons: “Deposit”, “Payment History”, and “Withdraw”. Click on “Withdraw”. 
  5. Choose “M-Pesa” as the payment method for withdrawal. 
  6. Enter the amount you wish to withdraw. Enter your M-Pesa phone number in the required field. 
  7. Click “New Request” to initiate the withdrawal process. 

 Once you have submitted the withdrawal request, it will be processed within one working day. ExpertOption does not charge any withdrawal fees when using M-Pesa.

  1. Choose an Asset: ExpertOption offers a wide range of assets to trade, including currency pairs, commodities, stocks, and cryptocurrencies. Select the asset you want to trade from the asset list.
  2. Set Investment Amount and Expiry Time: Decide how much you want to invest in the trade and set the expiry time for the trade. The expiry time is the time frame within which you predict the asset’s price movement. 
  3. Analyze the Market: Use the provided technical analysis tools, such as charts, indicators (e.g., Moving Averages, RSI, Alligator), and candlestick patterns, to analyze the asset’s price movement and identify potential trading opportunities.
  4. Place a Trade: Once you have analyzed the market and decided on the direction of the asset’s price movement, click on the “Call” (green) button if you predict the price will rise or the “Put” (red) button if you predict the price will fall before the expiry time.
  5. Monitor and Exit Trade: Watch the asset’s price movement and exit the trade before the expiry time if you want to secure profits or limit losses. You can also set stop-loss and take-profit orders to automatically exit the trade at predetermined price levels.

ExpertOption offers various trading strategies that you can employ, such as:

  1. Candlestick Patterns: Look for candlestick patterns like Engulfing, Tweezers, or Squat Candlesticks to identify potential trend reversals or continuations.
  2. Moving Averages: Use Moving Averages to identify trends and potential support or resistance levels.
  3. Martingale Strategy: This strategy involves doubling your investment amount after a losing trade, aiming to recover losses and make a profit.
  4. Trend Following: Identify the overall market trend and place trades in the direction of the trend.
  5. News Trading: Monitor economic news and events that can impact the asset’s price and trade accordingly.
  • Always start with a demo account to practice and get familiar with the platform before trading with real money.
  • Set a stop-loss order to limit potential losses. Never risk more than you can afford to lose.
  • Develop a trading plan and stick to it.
  • Manage your emotions and avoid impulsive decisions based on fear or greed

ExpertOption Terms & Conditions

The terms and conditions of ExpertOption are fair to every trader

We understand that the thought of diving into the fine print of terms and conditions can be rather daunting. Don’t worry, we took it upon ourselves to do the dirty work for you.

So, let’s dive a bit deeper into the legitimacy of ExpertOption in Kenya by looking closely at their terms and conditions. This is crucial information that you need to fully understand before committing yourself to any online business venture.

How does ExpertOption fare on this front? Quite well, we’d say. The company has gone so far as to provide the full details of the governing laws and the legal jurisdiction that they come under. This is the kind of transparency we like to see – it indicates a commitment to fair and legal business practices. It also means you have a legal avenue to pursue should any issues arise.

ExpertOption Ownership Information

In this industry, it’s rare to find a binary options trading company so open about its ownership – many choose to shy away from disclosing this type of information. ExpertOption is clearly taking steps to ensure that you feel safe when using their platform.

When analyzing a company’s ownership information, we delve deep into understanding the backgrounds of its founders and leadership team. With tools like Whois, LinkedIn, and CrunchBase, not only can we extract visible data but we piece together patterns that are less apparent.

Our investigation begins by examining the LinkedIn profiles of the founders and other prominent figures within the company, tracking their career trajectories and noting any recurring themes or irregularities.

We check whether these individuals have a history of involvement in the financial sector or other relevant industries. Experience does go a long way in building trust and credibility.

Beyond individuals, we check for the company’s registration details in corporate databases. This helps us verify if it’s been operating under any other names and if it’s been associated with unlawful activities in the fields.

Additionally, company details like physical address, contact information, and business categorizations can provide us with a clear picture of their operation’s nature and legitimacy. By using geolocation tools, we can confirm if a company’s registered address is consistent with its operations and is not merely a P.O. Box or virtual office.

Another factor we consider is the company’s age. Longevity often signals stability, and businesses that have been around for some time are likely more dependable than new entrants on the scene.

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