iOption Review – iOption Rating Score – 36/50
iOption are a new binary options broker on the market and have been around since 2010. They offer trading on forex, commodities, indexes and shares. The company is headquartered in Cyprus and the British Virgin Islands. The iOption website mentions that once you start trading binary options with them you will have a free personal account manager.
This is a good feature if you have any issues or need any advice with trading binary options. This also shows that the company attempts to add quality to their service. The trading platform is safe and secure and 100% web-based. Trade binary options in real time if you are a professional trader or an amateur.
The website isn’t the top in the industry, but it is quite user-friendly. The homepage has very attractive graphics that has brought many traders to the broker. The FAQ section is good and contains lot of detail – it is split out into sections. iOption uses SSL (Secure Sockets Layer) technology to ensure that all payments made across the iOption platform are as secure as possible. The website is mainly suitable for beginners.
Assets & Expiry Times 8.5/10
At iOption there are 16 stocks, 13 currencies, 4 commodities and 22 assets to trade binary options with. This totals 55 underlying assets: far above than the industry average.
There are 3 expiry times to choose: 15 minutes, hourly, end of day. This is about the average for the industry, but not good enough for the ambitious trader.
Commissions, Customer Service & Return Rates 8.5/10
Trading binary options with iOption is free of charge, making trading that much easier. Withdrawal via PayPal is free, E-Wallet withdrawal is free, Credit/Debit Card withdrawal is free, but Wire Transfer withdrawal costs $25.
The customer service at iOption is very helpful, well trained and answers all your questions. There are 12 international support numbers. You can also contact iOption via live chat, fax or email, as well as phone.
The return rates at iOption are really good: in the money pays up to 75% return and out of the money pays up to 15% return. Nothing negative to say about this, especially as some binary options brokers today don’t even offer return for being out of the money.
Deposit Options, Languages & Bonuses 5/10
You can deposit to iOption with Credit Card, PayPal, Debit Card, Wire Transfer and MoneyBookers E-Wallet.
The only language available is English – small choice.
There is no mention of a bonus on the iOption website. This is likely to mean that if there are bonuses at all, these are only for existing customers.
Additional Features 7/10
The website does have some additional features, but not many. More are really needed to be a viable competitor on the binary options market. There is the Asset Index that enables you to view all the assets that are available to trade with iOption. They are laid out well, and there is a basic dictionary that speaks about some of the basics of binary options.
On the website the Expiry Rates contain the details of the past expiries of all underlying assets which have expired. You can also trade with a demo account to practice before you deposit money into a regular binary options account at iOption.
There is a small square box on the homepage underlying the stages of trading binary options at iOption. There is also a great Reuters news feed and a How to Trade explanation on the homepage.
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