What are binary options?
Binary options are essentially a contract which is based on an asset, where most details are usually fixed at the start of the contract. These options are traded only on the internet, and the trader simply has to predict the option’s future behavior.
What are assets?
Assets can be a stock, commodity, currency, index which is the base of the contract. For example: the Dow Jones can act as the asset for an option contract.
What is an Up (high) option?
High options earn you a profit if the conditions are opposite of the Down (low) option. For example: you’ve decided to buy a Google (GOOG) stock at the price of 697.53 at 2:00 PM and chose the Up option. In order for you to profit, the price at 3:00 PM would have to be higher than 697.53. If that happens – you have made a profit.
What is a Down (low) option?
Selecting a Down option means that you can make a profit when the price of the asset at the time of expiry is lower than the price it was purchased at. For Example: you bought Google (GOOG) at 697.53 at 2:00 PM and chose the Down option. In order for you to profit, the price at 3:00 PM would have to be lower than 697.53. If that happens – you have made a profit.
What does out-of-the-money mean?
Out-of-the-money essentially means that regardless of the kind of trade you selected, it has closed in a position that does not include what you predicted and there for has failed to bring you any profits.
What does in-the-money mean?
In-the-money essentially means that regardless of the kind of trade you selected, it has closed in a position that has earned you a profit.
What does at-the-money mean?
At-the-money means that the asset your purchased closed at the exact price it was purchased at. If that happens, the full amount of the purchase will be refunded to you.
What does expiry time mean?
The expiry time for an option is the exact time on which an option closes and its result is determined.
What is an expiry date?
An expiry date is the exact date on which an option closes and its result is determined.
Under which time zone does the site operate?
iCoption operates under GMT time.
Can I change the site’s language?
Yes, the website is valid in English and Arabic languages.
Do I have to install anything on my computer to trade?
You do not. All of iCoption’s platforms are entirely web based and installation is not required to trading.
I forgot my login details, how do I proceed?
Please reset your password by clicking on this link.
Where can I see my current balance?
Your current balance will always be displayed at the top of each page.
What is the minimum amount for a single trade?
Yes, but it’s different in each platform. For example, the lowest possible amount for a 60 Seconds trade is $5.
What kinds of assets are available to trade?
The assets that are available to trade cover wide variety of Commodities, Currency Pairs, Indices and Stocks.
How do I register to iCoption?
Registration can be done by heading to our account opening page.
All you need to do is fill in these details: First name, last name, phone number and e-mail.
Is depositing money a part of the registration process?
Absolutely not, you can deposit at any time you want to.
How do I deposit money to my account?
At the moment deposits are possible by Credit Card or Wire (bank) Transfer.
What is the highest deposit amount possible?
You can deposit $5000 in a single deposit. But you’re free to make as many deposits as you would like.
What is the lowest amount I can deposit?
The minimum amount for deposit is $250 USD/EUR/JPY/GBP. The currency is determined according to your platform currency and according to your payment method.
Which currencies can I use to fund my account?
Our website supports the following currencies: USD,EUR,GBP,CAD and JPY.
I was asked for a swift code, what is that?
SWIFT codes are the unique identifiers that are used when transferring money between banks. Every bank has its own SWIFT code. Wires transfers cannot be processed without a correct SWIFT code. You should contact your bank to get the correct SWIFT code prior to making a deposit or withdrawal request by bank wire.
What is the payout range on iCoption?
Our payouts can be anywhere up to 85% of your initial investment when your option closes in-the-money.
Are payouts taxable?
While iCoption doesn’t tax payouts, the laws in your country may differ. See our general terms
for more details.
How are you keeping my funds safe?
Our site is fully certified by Comodo SSL and your money is kept in a separate account by our billing company.
How can I withdraw my profits?
There are a number of ways we can perform payouts on profits: Refund of your credit card, or a wire transfer to your own bank account.
Do I have to withdraw a minimum amount?
No, you can withdraw any amount as long as it doesn’t exceed your current balance.
Can I cancel a withdrawal request?
Your withdrawal can be cancelled at any time prior to receipt of the withdrawal confirmation email.
How do I update my Personal details?
You can update nearly all personal details by clicking on My Account and then selecting the Personal Details tab.
How do I review my trading history?
You can view all your trades by clicking the My Trades tab, You can also sort your trades with a variety of selections.