Interactive Option Review
Interactive Option ReviewFebruary 23, 2014
Interactive Option is a brand new CySec-regulated binary options broker powered by the Spotoption software. It’s offering 60 second options and payouts of up to 87% on standard digital options.
December 30, 2015 : Interactive Options has recently decided to change their withdrawals policy and possibly close down broker services. For a more in-depth analysis and review please refer to Binary Scam Alerts
- Minimum Deposit: $199
- Minimum Trade: $5
- Welcome Bonus: Tailor – Made up to 50%
- Demo Account: No
- Regulation: CySec
- Accepting US: No
Security and Safety:
The staff has a very strict policy when it comes to a secure trading environment. The cashier is encrypted with a 128Bit SSL key, and since it’s a regulated broker it means that it’s PCI Compliant and the transactions are encoded and only the last 4 numbers of the credit card are visible.
Interactive Option is a regulated broker with a CySec license. Traders logging in from a USA IP will not be able to execute trades.
Signing up was as easy as 1-2-3, and there is a chat box that’s available if you need assistance. You can just click on it and the customer service staff will help you immediately.
The trading room is very slick and highly intuitive. The contract box is simple and extremely functional, even the buttons are big and friendly.
Promotions and Bonuses:
Bonuses are tailor made and are credited on a case-by-case basis, the policies are very meticulous, and this means two things. The first and the most important thing is that they actually pay, but the second thing is that they are very strict and methodical about withdrawal policies – which is fair. So I recommend you inquire about trading requirements before you accept cash back offers or anything related to incentives. In general, I recommend you don’t accept it, but if you really want to don’t take more than a 15-20% match up on your investment amount since it needs to be trades 40 times according to the terms and conditions section.
Educational Material and Trading FAQ:
Interactive Options has the most extensive training program and the best instructional guides provides for traders at no cost. It’s divided according to beginners and advanced and also includes a broad overview of the platform. Additionally included are online courses, a binary options industry overview, discussions about risk management, global trading synopsis, and money management strategies. In short, Interactive Option is a great place to learn options trading.
Trading Tools, Vehicles, and Types:
The trading room is divided according to the following structure:
- Binary (AKA Digital Options): The usual Up/Down or Above/Below format where you would simply need to guess the general direction of the trend. This broker has the work “Apply” next to the arrow for call or put options, other than that its all the same.
- Long Term: This is basically for more educated traders looking for long term investments and wanting to diversify their portfolio on a variety of positions.
- 60 Seconds: The most popular and liked method of trading. Additional short-term contracts such as 2, 5, and 10 minutes are also offered.
- One Touch: This feature is for traders who believe they can predict if an underlying asset will reach the pre-selected support line during a fixed time frame which is set before the contract is purchased. While the payouts are much higher (as much as 500%) the risk is also higher since its very hard to guess correctly, so I don’t recommend it for beginners.
- Pairs: It’s just another tab that allows you to trade currency pairs directly from the top menu.
The asset index is broken down according to “hot assets”: Simply put, the assets that are being traded now and have the highest volume of executed trades in the system. Then you would have currencies, commodities, indices, and stocks. This is the standard for all brokers these days, and by the way if you are offered anything less then you need to ask why. There may be a legitimate reason, however it is less then the usual offering.
EUR/USD, EUR/GBP, AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD,USD/JPY, EUR/CHF, EUR/DKK, EUR/ILS, EUR/JPY, EUR/NOK, EUR/NZD, EUR/RUB, EUR/SEK, EUR/TRY, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, GBP/USD, NZD/CAD, NZD/CHF, NZD/JPY, NZD/USD, SAR/USD, USD/BRL, USD/CAD, USD/CHF, USD/CNY, USD/DKK, USD/HKD, USD/HUF, USD/ILS, USD/INR, USD/MXN, USD/NOK, USD/PLN, USD/RUB, USD/SEK, USD/SGD, USD/TRY, USD/UAH, USD/ZAR
Stocks (Partial Listing): Exon Mobile, Amazon, Apple, 3M, AIG, Bank of America, Baidu, Google, BP, Coca Cola, CITI, Deutsche Telekom, Disney, Ebay, IBM, Intel, Sony, Strarbucks, Unilever, Pfizer, and Yahoo.
Commodities: Coffee, Gold, Sugar, Corn, Oil, Platinum, Silver, and Wheat.
Indices (Just the Main Ones): ASX, CAC, DAX, Dow, FTSE, Hang Seng, Nikkei, Nifty, Vix Future, S&P 500, Tadawul, Bovespa, and Tel Aviv 25.
Banking (Deposits and Withdrawals Methods ): Barclays Bank (London), Rietumu Banka (UE), RBS (Paris), Emirates NBD Bank, Bank Of Cyprus, Moneybookers (Skrill) (2% fee), Paypal (3.9% fee), Maestro, Mastercard, Visa (Prepaid and Debit cards).
Customer Support: The customer service is really outstanding, with language support offered in English, French, Arabic, Russian and German. All my questions were answered immediately with almost no waiting times, and that means a lot for someone like me.
Demo Account: Interactive option does not offer a free demo account for trial or learning purposes.
Conclusions and Recommendations: This broker has all the makings of a winner. Starting with regulation, a variety of payment methods including Paypal, and an asset index that is probably the most extensive I have ever seen Interactive Option is definitely the leader of the pack. On the downside, you do have to wait a couple of hours before your deposit goes through, and this is a tedious and clumsy process. I would recommend depositing, then just moving on to other things and coming back to trade in two hours or when ever. Overall, this broker receives a ranking of 9.2/10 from me and competes really well with brokers like Banc De Binary, Redwood Options, and Brokerage Capital.