Ikko Trader is a leading binary option brokerage in Europe. IkkoTrader has a very strong outreach to the French-speaking community, and operates offices in the UK and British Virgin Islands. ChargeXP Investments Ltd is the operator of the Ikko Trader brand.
Software & User Friendliness
Ikko Trader uses the SpotOption white-label trading platform. This software is entirely web-based, and is the most widely used trading platform. The following binary options can be traded on Ikko Trader:
a) Up/Down: Payouts for this trade type approach 180%, and are determined by whether the trader’s bet on the asset ending the trade higher or lower than market price is correct. Expiry times are preset and are as low as 15 minutes up to one day.
b) OptionBuilder: This is the Up/Down trade type where the trader can set the expiry time according to the hours and minutes on a clock.
c) Touch Option: this option type is only open at certain hours of the day and is used mostly as a high yield contract with large payouts as much as 500%.
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Asset Index
Assets that can be traded on the Ikko Trader platform are:
a) Currencies: EURUSD, USDCHF, EURJPY, USDJPY, AUDUSD, GBPUSD, EURGBP, USDTRY, USDZAR, USDCAD, USDRUB, USDBRL.
b) Stocks: BAE Systems, HSBC Holdings, Petrolio Greggio, Trololo, Sberbank, Reuters, Rolls Royce, Turkcell.
c) Commodities: Oil, silver, gold and platinum.
d) Stock Indices: Straight Times Index, Bombay SE, MICEX 10, FTSE100, Xetra Dax, TADWUL, SSE180 (Shanghai), Kuwait General Index, DSM20 (Qatar), EGX30 (Egypt).
The maximum contract investment on Ikko Trader is 1500 Euros.
Security & Reliability
Ikko Trader’s headquarters is located in London, and so the company is subject to regulation from the Financial Services Authority (FSA). Regulation by the FSA requires all brokerages operating in the United Kingdom are required to keep all traders’ funds sequestered, i.e. traders’ funds are lodged in an account separate from that of the brokerage’s funds to keep them immune from any financial issues affecting the brokerage in the event that this occurs.
Special Features
The Ikko Trader platform has some special features such as:
1) The “Roll Over” function which allows traders to extend the expiry time on active traders.
2) Double Up function, which allows traders who want to increase the payout on a trade that they are sure by doubling their stake while the trade is still active.
3) Ability to receive very high payouts through the high yield trade types.
Deposit and Withdrawal
The minimum deposit amount on Ikko Trader is $200 or 200 Euros. Account deposits and withdrawals on Ikko Trader can be done with the following methods:
1) Credit card/debit card: All major credit cards are accepted. Traders are to submit scanned copies of the front and back of the card, blocking out all details except the last 4 card number digits for verification. Deposits are credited to the trader’s account instantly. Traders are limited to maximum deposits of 5,000 US Dollars or Euros while minimum is $100/100 Euros. Deposits and withdrawals are free.
2) Wire transfers: This is another way of funding and withdrawing from the trading account. Transactions take a number of days to clear. Withdrawals with wire transfers attract a fee of $25.
Withdrawals are made with the same methods used in funding the account in the first place.
Support
Customer support on Ikko Trader is available in several languages. There is an emphasis on English and French speaking users. It is possible to reach the support desk using the following methods:
1) Live chat
2) Email (support@ikkotrader.com)
3) Phone: +44 203 514 9836
Our Opinion
Ikko Trader is one of the few brokers that took their time to increase the linguistic reach and appeal of their trading services. Many brokers claim to have customer support available in many languages, but lack a translator for their websites and platform. This issue was taken care of by Ikko Trader. In addition, Ikko Trader has a user-friendly website and a trading platform that is easy to use. The customer service department is also responsive and prompt when attending to issues raised by clients.
Ikko Trader has one of the most generous bonus/promotions program in the binary options industry and they deserve commendation for it. However, Ikko Trader needs to improve on its education services. There are hardly any learning resources for traders. It is logical that if you want clients to use your services, you need to show them how to do it. It is hoped that Ikko Trader can correct this anomaly in future.