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7.3
  • IvoryOption

  • Bonus: up to 100%
  • Options Payout: 70-85%
  • Rating: 7.3 / 10
Broker Name: IvoryOption
Platform: SpotOption
Founded: 2014
Bonus: up to 100%
Return/Refund: 70-85%/ 0%
IvoryOption Overview
No. Of Assests: 65
Regulated:   No
Demo Account: No
Minimum Deposit: 250
US Traders:   Not Accepted
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IvoryOption Review

Editor’s Note – Why Does Ivory Option Suck in 50 Words

My biggest issue with Ivory Option is that they are not being monitored and regulated by any authorities. This is a big drawback and things get even worse when you Google “Patryn Limited” which owns Ivory Option. They have a bad reputation and there are loads of complaints against them. The good news is that all the complaints are about a year old, back before the broker made efforts to improve service, reliability and trustworthiness.

 

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Why Doesn’t IvoryOption Suck in 50 Words

IvoryOption doesn’t suck because they recognize the need for fair and honest dealing and have made efforts to become a respected broker. On top of that it is a SpotOption based broker and comes with all the features an active trader needs.  Their live chat was actually available even during a Sunday. Having access to live support is always appreciated. They answered my questions rather quickly and didn’t try to talk me into depositing or asking for my phone number.

 

 

IvoryOption Review – I-Worry-Option?

IvoryOption is a brand of Arianus LTD. Billing services also provided by Patryn LTD, Horton House, Exchange Flags, Liverpool, L2 3PF, England, UK. IvoryOption is not regulated. Support is available at  UK +44 203-608-6720 or email at support@ivoryoption.com. The platform supported is SpotOption.

 

Ivory Option broker is not regulated and their location is unclear but in the terms and conditions it says the agreement is bound by the laws of Gibraltar so that is likely where they are. They use Patryn Limited, a UK based company, to provide payment processing. They have had some trouble with reputation but over the past year they have made great strides to improve their operation. . They are using an older interface but the trading is still good. They support short term, long term, pairs, One Touch, Ladders and SpotFollow (copy trading) with a large asset list and SpotOption comprehensive array of expiry.

 

Moving on to the website itself. Education materials have been greatly improved in terms of, videos and articles but that really doesn’t matter. You go to a broker to trade, you go to an educational website like BinaryOptionsThatSuck.com to learn how to trade. Regardless, the Super Trader TV is a library of videos on every topic of interest to a new trader and includes recordings of webinars and live daily updates on the market.

 

 

Is Ivory Option a Scam?

Ivory Option could be a scam. They have a number of bad complaints, but those complaints are very old and since then the broker has been trying to improve its reputation. One thing to take note of is that it works hand in hand with the signal service VIP binary, a third party signal service that is not trusted by us. The thing to keep in mind is that a shady signal service doesn’t make IvoryOption a scam, it just raises questions about the sincerity of their efforts to become trusted.

 

The scariest part about this broker is in their terms and conditions and I quote the following lines from their site; “Whenever the Client transfers funds to the Company, those funds belong to the Company and will be treated by it as its own…” and “The Client will not have a proprietary claim over money transferred to the Company, and the Company can deal with it in its own right”. Translation; your money is theirs once you’ve made a deposit and there’s nothing you can do about it! Ivory Option… more like I worry option!!

 

Another quick search led me to an article on mirror.co.uk where the author describes how a profitable trader was denied access to his money which was over $30K. Bottom line, there are dozens of SpotOption brokers better than this one, so why bother?

 

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Ivory Option Ratings

User Friendliness 18/20

The SpotOption platform itself is user friendly and live chat is readily available, with what appears to be real people. They have also enhanced their education services with Super Trader TV, a series of videos that explain the platform, the tool, and the basics of strategy, analysis, risk management and other topics of interest to new traders.

 

No. of Assets and Expiry time 18/20

Assets and expiry are top notch, this is SpotOption after all. They have dozens of forex pairs, all the major stock indices, the most commonly traded commodities and expiry for most that ranges out to 6 months.

 

Commissions, Support and Effective Return 14/20

For currency pairs, the highest return is 83% which is quite fair in relation to other brokers. Support was online during a weekend which is a plus and they responded to my questions without being pushy. There are no commissions.

 

Deposit, Payment and Bonus 14/20

The minimum deposit has been lowered from $500 to $250 for a first time deposit. Minimum withdrawal is only $100 for credit card but $500 for wires, something very important to be aware of when opening an account. Bonuses are matching to your deposit according to the live chat but on the website it says 25 up to 50%. Nevertheless, to clear the bonus you need to reach a volume of (bonus amount + deposit) times 25 which is on the high side of the industry. They also have a 200% bonus for any deposits made over the weekend.

 

Website Extra’s 9/20

There are a few things good enough to count as an extra, but these can also be found on most SpotOption brokers. One is SpotFollow, a copy trading service which allows you to follow others traders using IvoryOptions. Another is the Strategy Advisor tool which gives buy/sell indications based on Bollinger Bands ™ , moving averages or RSI.

 

 

Ivory Option Overall Rating: 73/100

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