iOption is the self-acclaimed number 1 Binary Options’ site on the web and it seems to be exactly that in the opinion of many veteran traders. The broker is under the Scorpid Trading Limited, a company consisting of leaders in the financial world. The service was launched in 2009 making them one of the oldest and most established brokers in the industry. The system is run off the stable SpotOption platform providing traders with the security and confidence required to be successful.
Trading Account and Account Types
Although iOption lacks the hundreds of trading styles that some of the other sites have, it does offer 4 very solid choices to its’ clients.
Choose the typical ‘Up and Down’ option and all you have to do is select the asset you want, the time your trade should end, the amount you want to stake and then choose … well Up or Down.
Opt for the one-touch trade and just like above you choose a minimum number of scenarios and the trade will close should your ‘bet’ be reached. E.g. Should you bet that Google will jump 20 places and it does, even just for 1 second, then the payout is yours. If it doesn’t reach that outcome, you lose.
Tailor your trades on the options builder and select your asset and expiry time, your maximum profit and risk levels, your total stake amount and whether you want to Call (Up) or Put (Down) and then just sit back and wait.
Want a speedier binary service? Choose the 60-second option, select the asset of your choice and then choose your stake and whether to Call or Put and you’re done. In just 60 seconds you could be richer or poorer based on your preference.
Offering a 5% APR for all balances of over $500 sitting in a trading accounts and access to an exclusive credit card that allows you to spend your winnings on anything outside of the site, they do go the extra mile.
With regards to specific promotions and offers, we are in the process of negotiating exclusive deals for all our players.
As with any well established and reputable broker, iOption has a comprehensive range of channels to facilitate communication and feedback between traders and themselves. There is Live Chat, email, Open Ticket Support, and of course telephone support.
The broker caters for an international clientele with a list of international numbers, which consist of Cyprus, Canada, Denmark, Finland, Netherlands, Norway, Sweden, South Africa, Australia, New Zealand, Spain and Mexico.
Depositing is hassle free, as funds can be deposited via credit cards, debit cards, wire transfer and Skrill. Credit cards include Visa, American Express, Mastercard, Maestro, Visa Electron, and Diners. There is no fee for wire transfers of $250 USD or more, any amount below that will incur a $25 fee.
Withdrawals will only be allowed after one’s account is verified, which is normal procedure to protect traders funds, comply with regulations and minimise fraud.
Stocks: Amazon, Apple, BAE Systems, Barclays, Bidu, BNP Paribas, BP, British American T, Citi, Coca Cola, Fiat, France Telecom, Gazprom, Goldman Sachs, Google, Hitachi, HSBC Holdings, IBM, Lukoil, Microsoft, Nike, Nissan Motor, Petrobras, Petrole Brut, Reuters, Rolls Royce, S Bank India, SAB Miller, Sberbank, TATA Motors, Tesco, Teva Pharma, Toshiba, Turkcell
Currencies: AUD/USD, EUR/GBP, EUR/JPY, EUR/USD, GBP/USD, NZD/USD, USD/BRL, USD/CAD, USD/CHF, USD/EGP, USD/JPY, USD/RUB, USD/SGD, USD/TRY, USD/ZAR
Commodities: Coffee, Gold, Oil, Platinum, Silver, Sugar, Wheat
Indices: ASX, Bombay SE, CAC, DAX, Dow Jones, DSM20, Dubai Financial, Market General Index, EGX 30, FTSE 100, Hang Seng, IBEX, ISE 30, KL Future, Kuwait General Index, MSM 30, Nasdaq, Nasdaq Future, Nifty, Nikkei 225, RTS, S&P 500, S&P Future, SSE 180, Straits Times, Tadwul, Tel Aviv 25, Topix
On the whole, the navigation is intuitive and with functionality that lets the user see what terms and each section is all about, by placing the mouse over any section of the screen.
The platform is web based, which means that traders can access the system from anywhere in the world. There is great functionality within the platform, which allows traders to use technical analysis, trend following, tracking momentum, and pattern return to name a few.
On the whole, iOption is stable and a well trusted broker. They provide a relatively impressive asset listing, and the platform is well suited for both novice and experienced traders.
What quite impressed me was the amount of information and how it was all organised for new traders. Their Knowledge Center contains all the tutorials and information that a trader can ever want. There is the iOption Academy, Knowledge Library, Video Library, Demos, Ebooks, FAQs, and easily explained rules.