Iodide is arguably the most challenging halide to control as a shape-directing additive in metal nanoparticle synthesis and the addition of iodide during bimetallic nanoparticle growth often leads to inhomogeneously stellated products. Through judicious control of low micromolar concentrations of iodide ions in solution in a seed-mediated approach, alloyed gold–palladium tetradecapod nanoparticles have been synthesized with a mixture of both well-defined convex and concave surfaces. Notably, these particles are uniform and symmetrical, and this unusual combination of convex and concave features in a single nanostructure is not simply an artifact of intersecting spikes, as would be the case with stellated particles. Further, an important new role for iodide in catalyzing the reduction of palladium ions is identified, particularly at the edge sites of the growing gold nanoparticles. This differs from the commonly accepted theory that iodide slows metal ion reduction, and thus opens up promising new routes to the synthesis of other bimetallic nanoparticles with exotic shapes and surface structures.