Reviews Tagged: IOption
iOption was founded in 2010 and you immediately get the impression that this Binary Options broker has been offering its services for some time. Their interpretation of the SpotOption trading platform is also quite unique and well advanced. iOption will give you a maximum payout of 81%, which is not bad but not among the best. Other brokers on the same platform have higher payouts. Then again some also have lower payouts. They also feature a high Out-Of-The-Money payout of 15%, which is good. iOption is incorporated in Cyprus, an EU member, and thus under some minor oversight by CySEC. The minimum deposit is $200, which is about average, but quite low to allow for beginners to make a jump into Binary Options Trading. iOption do not have a free demo account, but a sort of training account in which you have to deposit €150. If you lose that money it will be return to you. This broker do not accept US, UK or French traders. For more info on iOption and the advantages and disadvantages of this broker, read on.
iOption is now offering a fairly wide selection of underlying assets. At the moment we can count 81 different assets, which is among the top brokers in number of assets. Very few have more underlying assets than iOption. Most of the assets are of course Stocks, because these are easiest to add and plentiful around the globe. There’s also lot of Indices from several different regions. Forex is also well represented, mostly by major currency pairs. Commodities has as usual the least number of assets, but there are some surprises here, not many have Coffee and Wheat on their asset list. So wherever you are located, there seems to be something for everyone at iOption. Currencies are of course a staple due to the fact that they can be traded almost 6 days a week and around the clock, although low liquidity in some time zones might not create the ideal conditions for successful trading.
As mentioned previously, iOption makes use of the SpotOption platform. This platform is tried and tested and reliability is strong. The fact that iOption has been around for some years shows and interface is nicely done. However, that certainly doesn’t mean it offer the trader better tools. The tools are in fact exactly the same as other brokers using the SpotOption platform. The reliability is very good and we have never experienced any problems with this broker.
Charting with iOption is average. Now, the difference between the brokers and the platforms is not huge, some are slightly better, some worse. The normal charts are fixed, there’s nothing you can do with these. To makes things worse, iOption don’t provide MetaCharts, which most SpotOption brokers offers. That’s odd because this feature has been around for some time now. Since iOption is new a new broker by any means, why haven’t they added this feature since it helps traders make better trades? Use a free charting service instead to determine the direction of price as you have more access to price data and other indicators as well.
When it comes to User Friendliness iOption has something to learn from the other brokers. You cannot filter the assets and assign favorites. For pro traders this is important because it will help trading to run along much smoother and faster. The best is to learn just a few assets, focus on these and profit from your knowledge. Ademo account as such is not available, but you can get something similar called a Training Account. You have to deposit €150, but whatever you loose will be returned. Surely there some terms that applies to such an account and they are probably not favorable – ask iOption exactly what is demanded. Deposit and withdrawal is easy as with most brokers with lots of choices, including MoneyBookers (Skrill).
As iOption is not exactly a new broker, support works pretty well. Sometimes we have experienced delays in the communication with iOption, but on the whole it works. Live Chat can also have its waiting time and a times support has disappeared from the chat altogether. I assume that they have lots of inquires and support suffers a bit. The support staff seems knowledgeable though. The trading library is well equipped with both an ebook, video series and a knowledge base. So for beginners there’s lot of information to go through and learn. iOption has one of the best trading libraries of all Binary Options brokers.
- Headquarters: Nicosia, Cyprus (for exact location see map below)
- Founded: 2010
- Domicile: Cyprus
- Minimum Deposit: $200
- Minimum Transaction: $10
- Maximum Transaction: $1500
- Markets: Forex, Stocks, Indices, Commodities
- Number of Assets: 81
- Max In-The-Money Return: 81%
- Max Out-Of-The-Money Return: 15%
- Lock-Out Period Duration: 5 minutes
- Option Frequency: Every 15 minutes
- Early Closure:
- Roll Over:
- High/Low Binary Options:
- One Touch Binary Options:
- Boundary Binary Options:
- Binary Options Builder:
- Sell Options:
- Long Term Binary Options:
- 60 Second Trades:
- Option +:
- Deposit Currency: US Dollar, British Pound, Japanese Yen, Euro
- Account Funding: MoneyBookers, Cash U, E-wallet, Credit Cards, Debit Cards and Wire Transfer.
- Accepts Clients From: All nationalities, except US, UK and France
- Demo Account: (special training account with €150 deposit only)
- Deposit Bonus: , 20-40%