IvoryOption has shut down their operations.
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This is an interesting broker that we are not quite ready to give our seal of approval to trade on yet, so hold off before you sign up to trade with them until we investigate them a little further.
One thing that really stood out as we looked at this website is the fact they have really emphasized simplicity when it comes to the website. They are a web broker that makes placing trades very easy to say the least. They are a site that has potential to be a great place for beginner binary options traders to start on. On the other hand, more experienced traders will probably notice a little drop off in the types of features that they normally see on other websites.
Online since: 2015
Max Returns: 85%
Minimum Deposit: $250
Minimum Investment: $5
Maximum Investment: 5000
Currencies: USD, EUR, GBP
Countries: All nations excluding the USA and Israel
– The broker operates under a philosophy of keeping things simple
– It’s a very easy site for beginners to learn on
– ‘Spot Follow’ social trading tab
– Many Option Choices
– High return on investment in some scenarios
– Withdrawals are processed fairly quickly
– No customers from USA or Israel accepted
7 Binary Options Rating:
IvoryOption contains many of the things that binary options traders look for when they first sign up with a web broker and for binary option robot. They have an excellent trading academy which combined with the sites simplicity makes it very good for novice binary options traders as we said before. The trading academy does not only emphasize learning for beginner traders but veteran traders can gain trading knowledge too. There is also a market review, fundamental analysis and economic calendar section on the website.
The site does give out bonuses too for those that deposit over $2000 dollars when initially opening their account. The bonus is 25% which is a little less then you see a lot of binary option brokers give out for that high of a deposit. There are some cases where if you talk to your personal account manager that you will receive a slightly higher bonus. As a reminder, just like bonuses that are given with other brokers, there will be account turnover requirements that are equal to 25 times the initial deposit before any bonus money can be withdrawn.
One other nice special feature is that IvoryOption offers those that trade with them VIP trading signals. Trading signals can be invaluable for beginner and veteran traders alike.
IvoryOption Trading Platform
During the testing of the IvoryOption trading platform we really liked it. It was simple so it worked fast and was easy to place trades on. It is 100% web based so there was nothing to download and take up your computer’s valuable storage space. Even on the lower bandwidths we tested the platform on it ran pretty good and the data stream kept up at a nice pace too.
There is a wide variety of options to use with the platform also. They have the ever popular high/low options, the trendy 60 second option for those that like lightning fast trading and long term options for those traders that are heavy into fundamental analysis. The highest yielding option products they have are one touch options and ladder system options but these also expose the trader to the most risk too.
One unique special feature the IvoryOption website has is what they call their ‘spot follow’ feature; this is their own social trading tab within the platform. This feature will allow you to track the trades of some of the more successful traders on the site and duplicate their trades if you so choose. If you don’t have much confidence in your own ability to trade binary options, then why not coattail off of someone on the site who is successful a majority of the time. It’s a good means of doing this very thing as it is similar to being given binary options trading signals for free.
Customer Support and Services
This broker uses a very similar pattern when it comes to getting in touch with customer service as many other brokers in the industry have. They allow you to contact them with questions and concerns by e-mail, live chat and by phone. Live chat is usually the option that most investors prefer and IvoryOption does a nice job with that; we give them high marks here for the way they responded quickly and handled our questions when we contacted them. They also have a long list of support phone numbers for the following countries:
United States +14436926821
United Kingdom +442036951604
New Zealand +6498011146
Republic of South Africa +27875503796
Banking and Company
There are a wide variety of ways that you can make deposits into your account on IvoryOption. They include such things as a Visa Card, Delta, MasterCard, Diners Club, Visa Electron, Maestro UK (Switch), Maestro, and Solo Cards. You can also use bank wire transfers to make a deposit but they are much slower to show up in your account than the other deposit methods. The minimum account deposit is $250; that is a pretty typical amount within the binary options trading industry.
Withdrawals are pretty straightforward with IvoryOption; the exception to that is the bonus reward trading volume requirements that are attached to your account in some cases. Of course if you did not accept a sign up bonus then you can withdraw however much you want from your account; keep in mind the minimum withdrawal is $100. The wire transfer method must also be the method used for withdrawing profits.
Withdrawals by wire transfer require a $25 fee but credit and debit card withdrawals are free of charge. It usually only take s a day or two to start processing withdrawals; the whole withdrawal process moves along pretty quickly in most cases. The minimum withdrawal on IvoryOption is $100, which is an amount that is slightly too high in our opinion.
Our Final Thoughts
There are definitely some good and bad things to say about IvoryOption. The simplicity of the website is a real bonus for beginners and their customer support is pretty good too. There is also a wide variety of option choices and the ‘spot follow’ feature is very interesting.
This site is ok and has potential but at this time we cannot recommend trading on it as we stated before. Right now it is best just to see what happens after we watch this site over the coming months and review it further. We have no problem recommending a site that is proactive and willing to get better if that is the course of action a web broker chooses; so in the future this very well might all change and we may recommend this broker.
Customer Service: Email: Support@ivoryoption.com and Live Chat
Trading Options: High / Low, One Touch, 60seconds, Long Term, Touch Options, Pair Options, Ladder Options, ProFollow
Assets: Currencies, Stocks, Indices, Commodities
Early close: No
Expiry Times: 60 sec, 2min, 5min, 15 min, 30 min, 1 hr, End of Day, End of Week, End of Month
Deposits and Withdrawals: Visa, Mastercard, Maestro, Visa Electron
Withdrawal Time: 1-3 days
Demo account: Yes