Editor’s Verdict
Overview
Review
Headquarters | Anguilla |
|---|---|
Year Established | 2012 |
Execution Type(s) | Binary Options |
Minimum Deposit | $250 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
ICoption, founded in 2012, is a binary option broker operated by Primero Capital Solutions Ltd in Anguilla.
Clients at ICoption can trade most major indices, commodities, stocks and currencies with a multitude of trade types and a diversity of trade lengths.
Accounts
There are several VIP accounts at ICoption and traders can choose a variety of different options in over 200 assets. Unlike some other binary option brokers, with ICoption there are no commissions, spreads or other fees. The maximum gain at ICoption is 81% and there is a deposit bonus of 100%.
Senior VIP accounts come with a number of features, including enhanced customer service, along with providing signals and suggestions for the market. VIP account holders can track the status of their account and if they wish, they can opt to have ICoption experts manage their financials. These analysts and financial technicians follow news and developments in the market and alert VIP customers when profitable opportunities present themselves.
VIP customers also enjoy daily market analysis, accurate and guaranteed trading recommendations, account status updates via e-mail, and much more.
Senior VIP service also includes the following features: Advanced Investment and Money Management Tools, Advanced Charts and Layouts, a Financial Calendar, Financial Strategies and market news.
The minimum amount for deposit into an account is $250 USD/EUR/JPY/GBP. The currency is determined according to the platform currency and according to the payment method. The minimum amount needed for a trade is different in each platform. For example, the lowest possible amount for a 60 Seconds trade is $5.
Although there is no demo account offered, there is an Islamic account for those who follow Sharia laws. Islamic accounts have been designed with the provisions of Islamic law and ICoption makes every effort to provide Islamic accounts the same services (such as customer support and daily trading signals) that owners of other accounts types are free to enjoy. There is a variety of trade times, no commission, daily market reports and trading signals.
Features
ICoption offers a number of different binary options.
ICoption Trading Platform
Traders can choose to trade Long-Term options that rely heavily on a trader’s ability to analyze a specific market, stock or commodity’s outcome over an extended period of times and can last at least 3 days and sometimes days, weeks and months. The 60 Seconds option, on the other hand, has extremely short expiration dates.
Trading currency Pairs is quite simple. ICoption provides the various pairings that can be invested in, and all the trader has to do is predict which one will outperform the other and arrive at the expiration date at the better level than the other.
With a One Touch option a trade need only select an asset and the set amount he/she wishes to invest, which is in currency units. Then he waits to see if at any point during the contract the asset reached the level you had predicted. If it does, a trader can get a substantial payout reaching 500% at the moment it reaches the set level.
Payouts with the Ladder option can sometimes exceed up to 1500% under certain conditions. With this feature, traders select the levels or rates on the Ladder and the expiry time. The levels are spaced automatically and the chosen asset needs to end up at a specific rate prior to expiry for the option to be considered a winning one.
A Down option allows the trader to make a profit when the price of the asset at the time of expiry is lower than the price it was purchased at.
High options can earn the trader a profit if the conditions are opposite of the Down (low) option.
Social trading with iFollow allows traders to track and copy other traders’ positions, so when they place a winning trade, the new trader is guaranteed to profit as well. Following a leader is essentially copying all of his moves. Hence, for every new position the leader opens, a trader can open a similar position. This platform supports all standard binary options positions.
Education
At the Trading Academy, traders can view videos on a host of interesting topics in several different areas such as binary strategies, platform tutorials and in-depth course on how to achieve successful binary option trading.
ICoption Education Center
The financial glossary at the Trading Academy offers clear definitions of most all the terms utilized when trading binaries.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/5 |
Website Languages |   |
Account holders can communicate with a representative at ICoption via its office in Anguilla. Chat is also available and traders can send their questions to a customer support rep during trading hours. To send an email, a trader must log in and enter his/her password.
Deposits / Withdrawals
At the time of this review, deposits for funding accounts were possible only by credit card or wire Transfer.
Deposits of $5000 can be made in a single deposit. But traders are free to make as many deposits as they would like.
There are a number of ways withdrawals can be made including a credit card, or a wire transfer to a bank account. Withdrawals can be made in any amount as long as it doesn’t exceed the current balance.
Conclusion
ICoption has everything a binary option trader needs in order to be successful. The site is attractive and user-friendly.
Features
ICoption’s most impressive feature is its list of different options. Traders can choose to trade either between long and short term options, standard highs and lows, currency pairs and ladder options. Updated graphic presentations accompany each option description. The VIP accounts offers traders many possibilities for making money and there are great payouts for each of the different assets selected - up to 85%. The fact that there are no commissions, spreads or other fees on any of the transaction is an attractive feature.
Trading Platform
Automated Trading | |
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Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
