Halogens, including iodine, are commonly used as additives to enhance the selectivity of catalytic processes. In sustainable-energy applications, such as dye-sensitized solar cells or photocatalytic water splitting, iodine is often applied as redox shuttle. Since platinum is both a prominent catalyst as well as electrode material, we investigated the phases of iodine on Pt(110) at a coverage of 0.5 monolayers by scanning tunneling microscopy, low-energy electron diffraction, and by density functional theory (DFT) calculations. Three distinctly different phases occur at room temperature, involving occupation of two different binding sites. Preferred binding sites and phase stability ranges are different from the ones reported for Br on Pt(110), reflecting a different balance of adsorbate−substrate and adsorbate−adsorbate interactions. DFT results are in striking agreement with experimental results for the c(2 × 2) phase, where the substrate remains planar, but disagree with experiment for phases involving a surface buckling. This is attributed to a preference of DFT for local over nonlocal interactions, i.e., CDW/PLD correlations. Comparison with literature data reveals a trend for increasingly unspecific iodine bonding to the substrate in the sequence Pt(110), Pd(110), Au(110).