SummaryAfter a detailed research we cannot confirm that this broker is safe. We recommend you to Proceed to Safety with Trusted & Approved Binary Options Broker. Alternatively you can Skip the content and See the Conclusion.
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Founded in 2012, ICOption is a binary trading broker that is owner by Primero Capital Solutions which is based in Anguilla. The broker offers a range of assets from all the major categories including currencies, commodities, stocks and indices. They also have an education section on their website which contains basic learning materials for traders who are looking to learn more about trading. We compiled this short review about ICOption to help traders decide whether it is worth investing with them or not.
Is ICOption a Scam?
ICOption is not a new player on the market, but there are a number of things that raise suspicion about them. Information about the company is not available on their website and we also haven’t seen good ratings from traders who have used them in the past. The broker is pretty average and while it is not a scam, it is also not safe to assume that they are reliable. You will more likely lose your money if you choose this broker and this is the reason we recommend you to go with a reputable and trusted broker.
The trading platform that ICOption operates on is 100% web based. Basically, traders don’t have to download the trading software, but use their login details to access their account. The trading options include High/Low, Long Term, 60 Seconds, Pairs, One Touch and Ladder.
Account Types and Bonuses
Upon registration on their website, it is possible to set up a trading account. Islamic Accounts are available for those who follow the Sharia Law. We don’t have much information about the different types of accounts that are available for traders and the features that come along with each of them. From the information that we have gathered from online courses, the bonus amount is 100% of the initial deposit.
How to Get Started?
- Sign Up – a registration form available on their website must be filled out to complete the sign up process.
- Trade – after traders have made a deposit, they can start trading instantly.
- Withdrawal – the withdrawal process requires traders to submit a withdrawal form and complete the verification process.
Deposit and Withdrawal Procedures
ICOption offers only two types of payment methods. These include bank wire transfer and credit cards. The broker requires a minimum deposit of $250 and it is possible for traders to deposit up to $5000 in a single transaction. There is no limit on the withdrawal amount. As long as the amount does not exceed the available balance in the account, traders can make a withdrawal for any amount. The withdrawal methods are the same as the deposit methods, but the processing time varies because of the lengthy verification process.
One of things that traders must look at when signing up with a broker is how efficient and knowledgeable their customer support team is. A good support team will ensure that you have a pleasant trading experience and that all your concerns are addressed in a timely manner. When it comes to ICOption, traders can use their live chat service or call them on their telephone number. Traders can also email them for which they have to log into their account first.