Der beste Broker fur binare Optionen fur 2020!
Ideal fur Anfanger!
2 Platz in der Rangliste! Zuverlassiger Broker.
IQ OPTION FULL REVIEW 2020 – ALL DETAILS ABOUT IQ OPTION
What is IQ Option?
IQ Option is a well-established broker that facilitates the online trading of financial instruments like forex pairs, different types of options, cryptocurrencies, commodities, ETFs, indices, and stocks. These instruments can be conveniently traded on an award-winning trading platform with many useful tools and features.
IQ Option started out with binary options in 2008 and has since grown rapidly to become a broker that processes roughly 2,000,000 trades per day! Here is our IQ Option review with all the information you need about what you can trade, different trading platform features, and how to get started!
Multi-asset trading platform Trade forex, binary options, stocks, crypto, ETFs, etc. Minimum investment of only $1 Free Demo account Deposit as little as $10
IQ Option’s Licence / Regulation
IQ Option Europe Ltd. is registered at Cyprus and is regulated by CySEC (the Cyprus Securities and Exchange Commission). IQ Option Ltd. is registered in St. Vincent and the Grenadines and this entity is not regulated.
IQ Option Instruments – What You Can Trade
YOU CAN TRADE STOCKS, FOREX, COMMODITIES, OPTIONS, CRYPTO, ETFS, AND INDICES WITH IQ OPTION!
IQ Option’s range of financial instruments is really impressive. Let’s take a look at everything you can trade with IQ Option…
IQ Option Digital Options Trading (non-EU only)
IQ Option has different types of options you can trade. One of them is digital options. With digital options, the potential payout percentage is up to *900% and the trader can choose between different strike prices.
*Payout percentages apply only to successful trades. The maximum payout percentage on digital options is 900%.
A DIGITAL OPTION TRADE ON THE EUR/JPY CURRENCY PAIR.
IQ Option’s digital options are available in different currency pairs. There are:
- 19 standard digital options which are tradable during weekdays.
- 8 OTC (over the counter) digital options for weekend trading.
Digital options can be traded with expiry times of either 1 minute or 5 minutes. However, trades can be entered late, which means that expiry times can be achieved of less than 1 minute or between 1 minute and 5 minutes.
Der beste Broker fur binare Optionen fur 2020!
Ideal fur Anfanger!
2 Platz in der Rangliste! Zuverlassiger Broker.
Digital options can be traded by non-EU traders and pro-EU traders but are not available to retail traders from the European Union.
For more information about IQ Option’s digital options, please read 16 New Digital Options Available!
IQ Option Binary Options Trading (non-EU only)
IQ Option has been in the binary options business since 2008 and has received many awards for its excellent trading platform. IQ Option has about 60 binary option instruments to choose from. These are not only binary options on forex pairs, but also on different stocks, stock indices, and gold.
IQ Option’s binary options can be traded with a wide range of intraday expiry times, as well as ‘end of the day’ and ‘end of the month’. The lowest expiry time is 1 minute.
The payout percentages on binary options vary, depending on the time of the day, news releases, market liquidity, and other factors. The maximum payout percentages on some of the binary options can be as high as 90-95% and in rare cases, even higher. Take a look at this screenshot:
AN EXCEPTIONAL CASE WITH A 99% PAYOUT PERCENTAGE ON THE EUR/USD.
IQ Option also has OTC (over the counter) binary options that can be traded over weekends for those traders who might be too busy to trade during the week.
For complete information about how to trade binary options, please take a look at Trading Binary Options With IQ Option.
IQ Option FX Options Trading
Retail traders from the European Union are no longer able to trade binary options and digital options with IQ Option due to ESMA (the European Securities and Markets Authority) regulation. However, IQ Option has a great alternative for retail EU traders – FX options. For this group of traders, FX options are the only type of options they can trade with IQ Option.
AN FX OPTIONS TRADE WITH LESS THAN 13 MINUTES TO EXPIRATION.
IQ Option’s FX options offer uncapped profitability for successful trades. The potential profit is basically just limited by the magnitude of the price movement in the time available until the option expires.
FX Options can be traded with the following expiry times: 10 minutes, 20 minutes, 30 minutes, 40 minutes, 50 minutes, and 60 minutes. However, because trades can be entered late, a trade’s actual expiry time may be less than the times mentioned above. For example, a 10-minute FX option contract can be entered more than 9 minutes late, which means that you can actually enter a trade which expires in less than 1 minute. Likewise, if you entered 5 minutes late on a 40-minute FX option contract, your actual expiry time would be 35 minutes from the moment you entered the trade.
There are 6 different FX option instruments available.
FX options are not available to non-EU traders but luckily they have access to binary options and digital options.
For more information about IQ Option’s FX options, please take a look at How To Trade FX Options with IQ Option – Review and Walkthrough.
IQ Option Stock CFD Trading
IQ Option has about 174 stock CFDs which can be traded with leverage. Stocks are generally much more volatile than the forex market and traders who enjoy volatile markets are often drawn to the stock market.
With stocks available on the same platform as IQ Option’s other instruments, traders can diversify their portfolios with great convenience, without having to open separate accounts for trading stocks.
IQ Option’s stock CFDs can be traded with as little as $1 per trade!
For all the info you need about IQ Option’s stock CFDs, check out How to Trade Stock CFDs with IQ Option – Guide & Review.
IQ Option Forex Trading
The forex market has some of the most liquid instruments you can possibly find. Spreads are usually very low compared to other markets and with a daily turnover of trillions of dollars, even large speculators and investors can get into and out of big trades relatively easily.
A LONG (BUY) TRADE ON THE EUR/USD CURRENCY PAIR. UP TO 1:1000 LEVERAGE IS NOW AVAILABLE ON THIS PAIR (AND CERTAIN OTHERS). *RETAIL TRADERS FROM THE EU ARE LIMITED TO LEVERAGE OF UP TO 1:30.
IQ Option has a good selection of about 88 currency pairs to choose from. Currency trades, like all other CFDs by IQ Option, can be placed with preset stop loss and take profit orders. Pending orders are also available.
IQ Option has recently made some really positive changes to their forex leverage and traders can now trade certain currency pairs with leverage of up to 1:1000. Examples are the EUR/USD, GBP/USD, GBP/CHF, GBP/JPY, and USD/CHF.
For complete info about IQ Option’s forex instruments, take a look at How to Trade Forex with IQ Option – Guide & Review.
IQ Option Cryptocurrency Trading
With its exceptional volatility, the cryptocurrency market has attracted numerous investors and traders from around the world. With cryptocurrency CFDs, traders can speculate on the bullish and bearish price movements of various cryptos without owning the actual underlying cryptocurrencies. So, whether the price is rising or falling, there is potential for profits to be made.
CRYPTO DIGEST IS IQ OPTION’S CRYPTO-DEDICATED NEWS CHANNEL. YOU CAN ACCESS IT DIRECTLY FROM YOUR TRADING PLATFORM!
IQ Option has two types of cryptocurrency CFDs:
- Standard crypto CFDs
- Special crypto CFDs
The standard crypto CFDs can be traded by clients from the European Union and those outside of the EU. Retail EU traders do have access to a 1:2 leverage, pro-EU traders and non-EU traders have access up to 1:10 leverage.
The special crypto CFDs have much higher leverage and much lower spreads than the standard crypto CFDs. These CFDs expire on a daily basis, however.
Retail traders from the European Union do not have access to these instruments due to ESMA (European Securities and Markets Authority) regulation, while non-EU and pro-EU traders do.
For more in-depth information, take a look at Trading Cryptocurrency CFDs With IQ Option.
IQ Option Commodity Trading
Commodity CFDs enable traders to speculate with different metals, crops, energies, etc, without physically taking delivery of it. For obvious reasons, this is a very convenient way to participate in the commodity market. Of course, a contract for difference allows traders to buy (go long) and short (go short) commodities, which means that gains can be made even when commodity prices turn south.
HAVE YOU EVER SPECULATED WITH GOLD? TRY IQ OPTION’S GOLD CFD!
IQ Option has 6 different commodity CFDs available. As with all other instruments on IQ Option’s trading platform, these CFDs can be traded with as little as $1 per trade. The available leverage is up to 1:150 for non-EU and pro-EU traders. Retail EU traders are limited to leverage of 1:10.
IQ Option ETF Trading
LOOKING FOR BROADER DIVERSIFICATION? ETFS MAY BE YOUR ANSWER.
Exchange-traded funds, or ETFs, are a very popular asset class; and for good reasons. ETFs enable traders to gain exposure to a market sector or a group of assets by simply trading one single ETF. This can make portfolio diversification much easier because traders do not need to select several individual instruments from specific sectors and combine them in their portfolio. Besides that, IQ Option’s ETFs have pretty low spreads and can be traded with leverage of 1:100 (by pro-EU traders and non-EU traders) and 1:5 by retail traders from the European Union.
Different IQ Option Features
IQ Option Mobile Trading Apps
IQ Option’s mobile apps have an ergonomic user interface. These applications also have technical indicators, widgets, and drawing tools. Trading can also be done directly from your charts, with the order entry box situated on the right side of the screen.
Here are the different mobile apps and the instruments which are available to regulated and non-regulated clients:
IQ Option Standard Android App
With IQ Option’s standard Android app, non-regulated clients can trade digital options, forex, stocks, cryptocurrencies, commodities, indices, and ETFs. Regulated clients can trade FX options, forex, stocks, cryptocurrencies, commodities, indices, and ETFs.
IQ Option iOS App
The IQ Option iOS (Apple) app supports digital options, forex, stocks, cryptocurrencies, commodities, indices, and ETFs for non-regulated clients. Regulated clients can trade FX options, forex, stocks, cryptocurrencies, commodities, indices, and ETFs.
IQ Option APK App
The IQ Option APK app works only with Android devices. Non-regulated clients can use it to trade binary options, digital options, forex, stocks, cryptocurrencies, commodities, indices, and ETFs. Regulated clients can trade FX options, forex, stocks, cryptocurrencies, commodities, indices, and ETFs.
IQ Option Progressive Web App (PWA)
IQ Option’s PWA can be accessed by Android and iOS devices and with it, non-regulated clients can trade binary options, digital options, forex, stocks, cryptocurrencies, commodities, indices, and ETFs. Regulated clients can trade FX options, forex, stocks, cryptocurrencies, commodities, indices, and ETFs.
Apps for *Binary Option Trading
*Binary option trading is only available to non-regulated clients.
The iOS and standard Android app do not support binary option trading. As you can see, the APK app and the PWA are the only apps with which non-regulated clients can trade binary options. Clients with iOS devices who want to trade binary options can use the progressive web app (PWA) to do so. Clients with Android devices can use the APK app and the PWA to trade binary options.
For detailed information, take a look at: IQ Option mobile Apps
IQ Option Platform Features
IQ Option clients can access its powerful trading platform in different ways, namely through desktop, web, and mobile versions. The mobile version is available for both Android and iOS devices.
ON THE MOVE? IQ OPTION’S MOBILE APPS HAVE YOU COVERED!
IQ Option’s trading platform has many useful features, charts, and trading tools. Let’s take a brief look at the things that make your trading as convenient as possible.
Trade Directly From Your Charts – Whether you’re trading forex, options, or any other instrument, you can execute your trades directly on the charts you’re looking at. The order entry box is situated on the right side of the chart which means that pending orders and market orders can be placed while you keep an eye on the current price action.
IQ OPTION’S ORDER ENTRY BOX DOES NOT OBSCURE YOUR VIEW OF YOUR CHARTS.
- Different Chart Types – Not only can you use line charts and candlestick charts, but also Heikin-Ashi and bar charts.
- Multiple Time Frames – Bar charts, candlestick charts, and Heikin-Ashi charts can be displayed in different time frames from 5 seconds up to 1 month.
- Graphical Tools – Some traders use trend lines, Fibonacci, and other lines in their trading. IQ Option has all of these available for you!
- Widgets – IQ Option’s widgets include ‘Other Traders’ Deals’, ‘Traders’ Mood’, ‘High and Low Values’, ‘News’, and ‘Volume’.
SOME OF THE WIDGETS ON THE IQ OPTION TRADING PLATFORM.
Technical Indicators – Whether you’re trading forex, options, stocks, or any other instrument, you have access to a good range of technical indicators that can be plotted on your charts. Some examples of technical indicators are moving averages, MACD, RSI, Bollinger bands, and stochastics.
HERE ARE SOME OF THE TECHNICAL INDICATORS AVAILABLE ON IQ OPTION’S TRADING PLATFORM.
News, Forex Calendar, Earnings Calendar, and Crypto Calendar
Economic news, politics, and other news events often impact the financial markets in a meaningful way. IQ Option’s trading platform is equipped with a handy news feed to keep you on top of what’s happening in the world.
Right next to the news tab, you will find the Forex Calendar, Earnings Calendar, and the Crypto Calendar:
IQ OPTION’S NEWS FEED AND DIFFERENT CALENDARS ARE VALUABLE FEATURES!
IQ Option Trading Accounts – What are Your Options?
Free IQ Option Demo Account
IQ Option’s fully functional demo account has all the features and financial instruments of a real (live) trading account. With virtual funds of $10,000, traders can test trading strategies, acquaint themselves with the trading environment, or just have some fun. This virtual account balance can be topped up to the original value at any time, which means that you can practice your trading without any limitations.
IQ Option’s trading platform was designed in such a way that traders can switch between their live and demo accounts with only three clicks. This is a really convenient and time-saving feature because both accounts can be accessed with one login.
IQ Option Real Account
IQ Option’s real trading account offers you live trading with real money. With a little deposit of only $10, you can get real trading experience and partake in many different markets and asset classes. Whether you like forex, commodities, options, ETFs, stocks, cryptocurrencies, or stock indices, all of these are available to you. Besides normal trading, you can also partake in IQ Option’s trading tournaments which can be accessed directly via IQ Option’s trading platform.
*Retail traders from the European Union do not have access to IQ Option’s trading tournaments. Pro-EU and non-EU traders can participate in these trading tournaments.
IQ Option VIP Account
To qualify for an IQ Option VIP trading account, you need to deposit $1,900 or more. A VIP trading account gives you access to quite a couple of perks, which include higher profitability rates and a personal account manager. VIP-Accounts are available for non-EU Citizens only.
For more information about the advantages of a VIP trading account, take a look at IQ Option VIP Account Review – 6 Great Benefits.
IQ Option Customer Support
IQ Option clients can easily contact its support team via the ‘Chats and Support’ tab on the left side of the trading platform. At the bottom left of the platform, you will also see a telephone number that you can call 24/7. The chat feature is also available at any time of the day and week. Customer support is available in 13 languages!
On the trading platform itself, traders can access video tutorials for free. These videos cover different subjects, which include information on FX options, binary options, digital options, different chart patterns, how to use different technical indicators, CFD trading, and the Crypto Digest.
Low Minimum Deposit and Minimum Investment Amount
With a deposit of only $10, clients can access a real money trading account with IQ Option and start trading certain instruments like binary options, forex pairs, stocks, and commodities with an investment amount of only $1 for options and $20 for Forex/CFDs. FX options require a minimum investment amount of 25 euro or $30.
Who Cannot Use IQ Option’s Services?
IQ Option’s services are available to all countries except to the USA, Canada, Australia, Belgium, Israel, Japan, Sudan, Syria, Turkey, and Iran.
Some countries are excluded from using one, or both of IQ Option’s mobile apps. Users from Malta, Cyprus, and the Dominican Republic cannot trade with the iOS app, nor with the Android app. Users from Myanmar, Lichtenstein, and Cuba cannot trade with the Android app.
Is IQ Option a Scam or Not?
IQ Option is certainly not a scam. With more than 10 years of quality service to traders from around the world, IQ Option has received numerous awards for its trading platforms and other features. IQ Option processes close to 2 million trades per day and is a truly an innovative broker that is constantly seeking new ways to improve its services, trading platform, and variety of tradable instruments. IQ Option is a champion in the trading industry!
IQ Option is a remarkable broker that keeps on evolving and improving despite being well-established already. An IQ Option demo account does not expire and with it, traders can enjoy all the features and tradable instruments of an IQ Option real account. All of IQ Option’s trading tools, technical indicators, and widgets are available to all users for free. Lastly, IQ Option’s customer support is really good and assistance is available to clients 24 hours a day, 7 days a week.
IQ Option Review 2020 – The Lazy Traders ‘s Guide to Know Everything
IQ Option Review
IQ Option is one of the best known binary brokers, and most people have reviewed it as a top-notch solution. It is more of a representation of what binary trading platforms should look like in the coming years. IQ can be termed as all-around software that accommodates all traders’ needs, and it is, therefore, something that I can confidently recommend.
IQ Demo Account
You can access the Demo account on Android, PC, and IOS. It is recommendable that you try out the free Demo option first so you can evaluate the platform and understand it better. The Demo account reviews show that it is a good platform, but you should give it a free trial first. You can always recharge the available virtual cash if it goes down to less than $5000.
Is IQ Option Legit?
We will answer this in terms of whether the IQ option is verified or it is something you should worry about. For starters, IQ Option Europe LTD is accredited by CySEC, and Cyprus approves it and authorized by EEA. IQ Option does not only operate in Europe, but also it works in other regions, but it is registered under the name IQOPTION LTD and registered at Gredaniesand St. Vincent. IQ option is well-regulated, and that is a plus. However, the major drawback is that they do not accept traders from Israel, Australia, Canada, Japan, Sudan, Iran, Palestine, N Korea, USA, Syria, Latvia, and Belgium.
IQ Option Payout and Returns
I’m giving the platform a 5 out 5 for returns. The returns are attractive, and if you are looking for a way to make fast and legitimate money, IQ will do you good. The maximum payouts go up to 92% in cases of a successful trade. The weekends are even better, and the payouts go up to 95%. Weekends are the best time to try your luck, but you should note that they only provide cryptocurrencies. Also, the new digital option has higher returns that go for up to 900%.
e will discuss and review more about the new digital feature later. Also, a nice extra is the IQ Option tournaments where you can compete with other traders to make the most tournament money in your account over a limited time frame., Here you can participate with very little or no investments. and the tournament winners can get very very lucrative Rewards. I recommend to give it a shot. It’s a fun way of trading, one time I had joined a small tournament for a 5 USD buy in and was able to get 200 USD in return for my 4th place in the rankings.
IQ Option Software
I would give this software a rating of 10 out of 10 and with good reason. This is the best software that I have seen in the longest time. There is a lot to love about this software and its interface, the layout, and its usability. The platform has excellent features to be discussed further later in this IQ Option review.
To sum it up, we can all agree that the software is super incredible.
Charts, Tools, And Indicators
The platform entails a range of chart options which allow you to choose the one that suits your exact trading needs. These include candles, bars, lines, and Heikin Ashi. Each of these choices has its different features, pros, and cons. For example, if you are technical analysis and following trends, you can go for various drawing tools such as trend line which will help you in setting up price movement’s level of support and resistance.
What’s more? IQ option offers you an array of indicators that lets you choose the best based on your style and preference. You can access all these elements by checking the bottom left of the trading interface.
They have great customer service, and I would give it a 4 out of 5. One of the things I love most about their customer service is how instantly they reply to inquiries. They have an excellent customer support team that has been set aside to answer all questions within seconds. Nothing beats fast responses when it comes to determining the quality of customer services, and this is something a plus for them.
You will have access to a range of deposit methods, and that is another positive thing about IQ option. It shows that they care about their customers and have come up with payment options to suit every client’s needs. Their deposit forms include eWallets, credit, and debit cards. They also listened to customer demands and have recently introduced AstroPay card and ADV Cash as acceptable methods of payment. This makes it is more convenient for everyone and more straightforward for new traders to join the trading platform. Generally, deposit options vary depending on the country of a client.
The expiry term depends on how long you are willing to hold the trading position. This could range from one minute to one month. IQ has a range of trade expiry period, which mostly depends on the kind of asset that you will be trading. You can hold binary options positions for a range of between 1 to 5 minutes. The other feature to love about this platform is that you have the chance to set trade entry that will happen in the future. For example, you can set a trade entry that you want to occur in the next 2 or 3 minutes.
This firm has been in existence since 2020. It is regulated by CySEC in Europe and approved by EEA. However, because EEA regulates the company, IQ option only provides a particular selection of financial options to the European retail traders.
IQ Option is a subordinate of IQ Option Europe Limited. Their headquarters are in Yiannis Nicolaides Center found in Agiou Cyprus, and the company registration number is HE327751. IQ Option CySEC license number is 247/14. They provide their services to all the citizens of Asia, Africa, Latin America, and the Middle East.
They have great customer support and an exceptional 24/7 international support that comes in different languages. This ensures that they can conveniently communicate with all their customers. Also, traders can reach their support team through email, phone, Skype, or even chat. Their UK phone number is + 44 20 8068 0760.
More About IQ Option Deposit
Let us dig deeper about the deposit options. We already made it clear that they accept a range of deposit options, but what are the terms? For starters, you should know that the minimum deposit amount is $10. This means that you cannot deposit an amount lower than this. The amount is relatively fair and great for those who just want to give them a try before making the final decision. It is quite a reasonable amount for those who wish to deposit and see if the system works before investing in big amounts. It would have been unfair if you had to make a minimum deposit of $50. That will be a significant loss if things fail to turn as you expected.
Now away from the deposit, the minimum amount that you can invest in this trading platform is $1 per trade while the maximum is $20,000. The maximum deposit amount is $5,000, and the available deposit options are MasterCard, bank cards, e-wallets, Visa, Astropay, and ADV Cash.
You may notice that sometimes the deposit will take some time before reflecting in your trade account and there is nothing to worry about. In most cases, though, it will reflect instantly.
update: from the 9th of December 2020 and on, traders will have 3 commission-free withdrawals per calendar month. The calendar month is calculated from the first day of the mouth. Each subsequent withdrawal will incur a commission fee.
Withdrawal options at IQ Option
Now that you understand more about the deposit, it is time to learn more about their withdrawal options. A few years ago, IQ Option introduced instant withdrawal. This means that your withdrawal request will be processed instantly. It is advantageous since you get your cash immediately after making the request and therefore if you were after urgent money, then they got your back. You, however, need to prove your identity first for the withdrawal to be successful and for it to be fast. Ensure that your account is fully verified before attempting to withdraw.
Downloading The App
The best part about IQ Option is that it is available on smartphones. You do not have to be next to your computer to enjoy trading on IQ option. Simply download the app on your Android or iOS, and you will even love that the app is free. The other thing to like about the app is that the features you get on your smartphone apps are the same as you would find if you decide to use a desktop app.
Android and iOS mobile apps are available for IQ Options traders
Do You Need An IQ Option Account?
Although it is not mandatory, it is recommendable that you give the platform a free trial with a demo account. This way, you will be in a position to determine if the platform is worthy or if it meets your expectations.
What Are The Benefits Of IQ Option?
You are probably wondering what it is that makes this trading platform standout and why it is better than most platforms. IQ option has a range of great deals that makes it most people’s favorite. Let’s have a look at some of these aspects;
The platform is easy to use – you do not have to be an experienced trader to be in a position to use this site. Even new traders find it quite friendly and easy to navigate, and this is one of the main aspects that people look for when deciding on the best trading platform to choose.
Accessibility – the other benefit or feature that makes IQ option to stand out is its accessibility. By this, it means that you can easily access the platform from various devices such as on your smartphone, web browser, or on your desktop. You can enjoy trading from anywhere and at any time.
IQ has invested in ensuring that they can offer their customers with educational resources and guide them through the trading process. They have a collection of educational resources like videos, articles, and real-time smart news feed to keep the traders updated at all times and help them keep up with the market trends. They also have a wide range of tradable assets to cover everyone’s needs and answer all questions that traders may have regarding the same. These include cryptocurrencies, binary, stock, and commodities, not to forget ETFs.
Great financial instruments – IQ has done a great job in offering financial instruments to meet the needs of traders from specific regions.
IQ Option Downsides
Anything with upside has a disadvantage, and IQ option is not an exception. There are a few things not to like about them. The first one is that their primary focus is on investors who prefer a short holding term. They do not consider those who want a longer expiry time, and mostly their terms expire within a day unless traders set a shorter period. They, however, have an off month longest option where you can hold your trade position longer.
Do You Need To Open An Account With IQ Option?
If you are still in a dilemma and still wondering if you need to open an account, here is what you need to know first before making your final decision. You should know that their website is professionally designed to offer your simplicity and convenience when using it. This is unlike most broker sites that are filled with clutter. The sites are easy to use and navigate through different sections of the platform. What’s more? You will find all the information you need about opening and using an IQ Option account. It is all well described as you move down the site.
You can access the website through your Smartphone or computer. This is an additional point as it means that you can access your account from anywhere and at any time provided you have your device with you and an internet connection. They care about everyone, and they understand that they have customers from all over, and for this, they have availed the site in 13 different languages. This ensures that every trader can access and understand it regardless of where they come from.
If you are still not sure about whether to open an account, you will be happy to know that the process is super easy. They have also gone out of their way to offer demo accounts where you get to learn more about the account and how to use it. All that is required from you is to fill in your names and email to gain access. The real account, however, needs you to present your identification documents and get verified before you can access it. Verification may take approximately 10 to 30 business days.
The best part about IQ Option is that they have gone out of their way to offer traders with useful and educational resources to guide them on how to open and use the account. Traders have access to more than 200 high-quality videos on the site, all which have been posted to tutor them and answer any questions that they may have regarding account creation. They have also put up blogs and articles explaining the same and ensure that site visitors get to keep up with the constantly changing trends. Even better; they have an informative FAQ section that answers all the frequently asked questions about trading.
Now that you have already created an account, you need to understand more about depositing and withdrawal, and once again, the process is straightforward. IQ accepts different methods of payment, and with this, you can deposit your money instantly at any time with your phone or credit card. Also, they are still adding for payment methods, and with time, they will have more available payment methods. They recently added AstroPay card and ADV Cash to grow their list of acceptable payment methods.
How long does it take for the money to credit to your account? This will sorely depend on your method of payment. The minimum allowed amount that you can deposit is $10 and this is quite friendly compared to their competitors. You do not have to worry about your money going to waste once you realize that the platform is not exactly what you were anticipating for. You are allowed to invest as little as $1, which is the minimum investment amount based on what trading instrument you choose to invest in. Withdrawal is also super easy, and you get money instantly. You can request your money to be sent through any of the available deposit channels. However, your money can only be sent to the same channel that you used for depositing. Card withdrawals are the most prioritized, and therefore, when creating an account, it is best that you consider it as your primary method of deposit and withdrawal. The trading platform is professionally designed and allows you to access a range of features by one click on the right of the interface. Some of the features to expect from the interface include;
- You can access your trading history from when you started and all the details of the past trades
It lets you select an asset by clicking on the + sign located on the top of the interface
- You can view the leader board where you get to see how other traders are doing in terms of earnings
You can view the upcoming tournaments
- You get access to market analysis, which allows you to view top performing forex and earnings calendar. This is an essential element to guide through your analysis
- You only need to make a single clean to reach the support team and have all your questions answered on time
- You can view a range of tutorial videos, graphical tools, and different charts
You will also love that they have invested in charts and indicators to make navigation through the site easier, even for the new traders. They are continually updating the charts to ensure that they can accommodate all traders and their preferences and styles. They recently introduced Belkhayate timing, DPO, and KDJ indicators.
The first thing that traders look for when selecting a good trading platform is customer support. IQ Option has proven its worth and has done a great job in offering customer services and ensuring that traders are attended to on time and that they can get answers to all their inquiries. They have integrated a live chat feature that ensures that traders get to have their issues addressed in real time.
Traders get the chance to interact with other traders as IQ Option has added a chat feature that traders can access from their trading accounts. This is super efficient, especially when a trader is looking for tips to be successful. S/he can get them by asking from the rest of the high-earning traders.
How effective is IQ Option? I have already mentioned several times that they offer up to 92% payouts on successful trades. This is a better rate than what most brokers provide, and you can trust that you will be able to reap big from this platform. Their trade expiry time is, however, shorter than most brokers as their speed trading starts from 1 minute to 1 hour. The position holding term that you get is one month.
Complaints about IQ Option
A lot of good things have been said about IQ Option, but that does not mean that there have not been any complaints about it here and there. Some users have had a few negative things to pinpoint about this broker, but it requires you to do some in-depth digging to come across the complaints.
Most of these complaints focus mainly on pricing. Some traders feel that there is an unfair difference between the strike prices and the actual market price. They feel that what they make from the platform is a bit lower than their expectations. Such complaints might be the reason behind the prompt action by CySEC where they withdrew a fine they had imposed on IQ Option for not failure to execute orders for their clients in the best way.
The other common issue that most individuals complained about was regarding the withdrawals. Some people feel that it takes too long before money reflects in their bank accounts. They wish that it would be as instant as it is when making deposits. It takes approximately 45 business days for the money to reach your account after sending the withdrawal request. This complaint triggered the changes in terms of withdrawal, and since then, IQ Option introduced instant withdrawal. This means that they can now access their money faster, especially when they use debit and credit cards as their method of payment. Most of the withdrawal requests are now processed within 24 hours, and this is a plus for the platform.
Currently, wire transfers are only available in Argentina, Thailand, South Africa, Malaysia, Indonesia, and Vietnam. It is recommended that traders choose their method of payment carefully to avoid frustrations during deposit and withdrawal.
How User-Friendly Is IQ Option
User friendliness has been one of the top reasons why a lot of individuals prefer this site, and to my review, the interface is very easy to use. The design is super amazing, and the sections are professionally laid. The platform has been made for everyone’s convenience, and even the new traders find it super easy to use and navigate. Just a few mouse clicks and you will find yourself at the right place.
The platform has an easy-comprehend interface, but it is a bit cluttered, especially for those who have more than one open trade. It gets even worse if you try to open more than one window. IQ Option mostly focuses on Europe and Asian traders, and you will realize the most of the available languages are from these two regions.
How accessible is the platform? The accessibility of the site has been improved dues to its mobile friendliness and the fact that you can access it virtually from anywhere at any time.
IQ Options is one of the few brokers that offer more than 10million financial assets to traders. Some of these tradable assets include;
This is where they started. Initially, they offered binary options, and these assets have a fixed return of up to 92% on successful trades. You should note that there is no precise amount that you can lose. The amount is proportional to your investment.
IQ Options are trying to keep up with technological advancement and have recently launched digital options. People find this option more and trade conveniently. Digital options come with a range of benefits. For starters, you can get up to 900% returns on successful trades. Your potential returns will be based on your strike price. Also, you can only lose as much as you have invested, and the best part is that you can exit the market if you feel that the losses are too much. You may also do this to lock in profits. Trade position expiry time is between 1 to 5 minutes. Digital options are the best for individuals in non-regulated states where they cannot access FX trades.
IQ Options offers a range of tradable commodities which include oil, gold, and silver. Trading with commodities is the best choice if you wish to hold on your position for an extended period.
ETFs are more like stocks. They come with some pros the main one being that they give traders a chance to diversify their portfolio and buy as many shares as they can afford. They have a choice to buy as low as one share.
IQ Option is among the few brokers that offer their traders more than 165 stock CFDs all from established companies from across the globe.
Forex is one of the people’s favorite training assets in IQ Options, and you can take advantage of this asset and enjoy making up to X1000 returns especially if you are a trader from a non-European country. For the European traders, you can leverage up to X30 returns.
Forex Options are mostly suited for European traders. Most traders opt to combine them with the digital option to get better returns. When done well and in cases of successful trades, you have a chance to get unlimited profits with limited losses. When trading with digital options, you have noticed that you are required to choose a strike price that you feel will work best for you and one that you think that your financial instrument will reach. The platform then calculates your potential returns automatically. It will also show you the potential losses if things go wrong. FX options have an expiry time of up to one hour, and you have a choice to exit the trade to minimize losses or lock profits before its maturity.
Cryptocurrencies are another kind of assets that have been gaining popularity and have become a buzz in the market today. Luckily with IQ Option, you will have access to over 11 cryptocurrencies, and they give you a chance to make as much as you can with these currencies. They offer unique and highly leveraged cryptocurrencies that you might not find anywhere else. For example, with Bitcoin, you can leverage as much as X100, which can increase your profit and loss potential. You should, however, note that the leveraged cryptocurrencies are only meant for traders that are based outside the EEA.
This broker allows their traders to invest in about 11 of the most prominent largest indexes. You also get a chance to enjoy the leverage of up to X 150 when you trade with indices on IQ Options.
Commissions And Effective Returns
IQ Options is among the brokers that primarily focus on short position holding terms. If you are after extremely short terms, you can IQ Options allows you to access turbo options which have expiry dates of about 60 to 120 seconds.
Their short term options have expiry terms of about 1 to 5 minutes, and you may have an increment of 5 minutes after that. The most prolonged position holding period you can take is up to one month. This broker provides traders with decent returns as with a successful trade can for up to 92%.
Contact And Support
IQ Option has been good work and trying their best to offer excellent customer support. They believe that customer support is the key to seeing the customers satisfied, and it is the only way to keep them hooked. For this, they have set aside a group of customer support whose availability is 24/7. This ensures that traders can have all their issues and inquiries solved within the shortest period. They have a direct number, and the good thing is that they have a real person behind the desk. Traders can, therefore, have confidence that all their queries will be answered regardless of how complex they may seem. You can reach their customer support team through a range of channels such as Skype, email, phone, and chat rest assured you will get fast responses.
They have also integrated a chat feature within every trader’s account interface so that traders can chat among themselves. They can take advantage of this feature to inquire when they have problems or when you want to ask about tips from the more experienced or high-earning traders.
Deposits, Withdrawals, And Bonuses
Deposits and withdrawals are quite easy, and IQ options accept a range of payment methods, including e-wallet, credit and debit card. Also, the verification process only takes a short while, and you all ready to start with your trade. It will take you a few weeks for the account to be verified. After verification, you can now make your first deposit, the minimum amount being $10. This is quite a good amount bearing in mind that most brokers will require you to deposit a minimum amount of up to $250.
Depositing is not the only easy thing since withdrawal has been improved and it now takes you the least time to have your money in a bank account. You, however, should note that they will only accept the payment method that you used for depositing to be the same for withdrawal. You should also note that IQ Option does not offer sign-up bonuses. They have to follow the requirements of CySEC.
IQ has made several steps ahead and are now offering unique and super efficient features to improve trade and make the process easier for everyone. They have put together over 200 tutorial videos to provide traders with resources on how to get started and how to use the platform. They also have a demo account which gives traders a chance to do a free trial and see if the platform meets their needs.
Fresh news available at IQ Option website
The IQ Option trader account gives you access to other tools and features to make the trading process more convenient for you and ensure that what you get matches your preferred pattern. Most of these tools are things that you will not find anywhere else.
IQ Option was launched in 2020, and since then, they have made it to the list of the fastest growing binary options brokers. This shows just how much hard they have been working to ensure that their clients get only the best. They have a wide range of tradable assets and traders’ friendly features, and these things make the platform likable by everyone.
IQ Option has made a lot of efforts in introducing new financial instruments such as fore and digital options, and this is another plus for them. They are trying their best to increase leverage, integrate more indicators to make trading as smooth as possible for everyone.
Their hard work does not go unnoticed, and with everything they have been doing, IQ option now oversees transactions of more than $380 per month and an average trader withdrawal of more than $10.8 million in a month.
How Should You Use IQ Option In The USA?
Unfortunately, this platform is not allowed in the USA since the relevant authorities have not regulated them in the US, and therefore, you cannot use it.
How Can You Change Your Currency Deposit On IQ Option?
This is only manageable when making your initial deposit. You can do this by clicking on the deposit button on your account, and a deposit window will pop up. You can then choose your preferred method of payment. Enter the amount and click on your preferred currency. Note that you will be doing all these on your demo account.
How Will You Get A Real IQ Option Account?
It is quite easy. You only need to visit the main website; https://iqoption.com/en, and you will get the demo account download option. Go to deposit and after choosing your preferred payment method and making your deposit, wait for a few seconds or minutes for the money to reflect in your account. Now you have your real account, and you can start trading. It is recommendable that you verify your account immediately after making your deposit. This is so you can avoid issues when making withdrawals.
Where Is IQ Option Broker Allowed?
The broker is approved and accredited to offer services in a range of European states. IQ Option is also allowed in other non-regulated states like some parts of Africa, Asia, New Zealand, and Latin America. You should, however, note that particular financial instruments are only available in specific regions.
Who Regulates IQ Option?
IQ Option is regulated by Cyprus Securities and Exchange Commission (CySEC) in Europe under the license number 247/14. IQ Option is also EEA Authorized.
Where Is IQ Option Headquarters?
IQ Option headquarters is based in Europe, Cyprus at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol.
Does IQ Option Have A Maximum Trade Size?
Yes, IQ Option has a trade maximum for both real money and demo account. You can make an investment maximum of $20,000 in a single trade.
Is IQ Option Safe?
IQ Option adheres to the regulative requirements in ensuring that their clients are safe. What’s more, IQ Option utilizes SSL encryption technology to ensure that there is no unauthorized access to your account. IQ Option implements strong steps to encrypt the web traffic between the trader’s computer system and their servers to ensure that their clients’ personal and financial details are secured.
Is IQ Option In Any Way Connected To Metatrader?
IQ Option utilizes its designed platform and is in no way associated with the Meta Trader platform.
What Is The Best IQ Option Deposit Method?
IQ Option offers diverse deposit methods, but my favorite option is Skrill wallet. This is because it is easy and fast for deposits and withdraws, and IQ Option will not impose any extra fees.
Which Is The Best Way To Withdraw Money From IQ Option?
IQ options offer you Skrill Wallet that makes withdrawing cash quite easy. The good things are that you don’t get charged extra withdrawal or deposit fee. Besides, you get to withdraw any amount, and the process is fast. The last transaction was completed in less than 24 hrs but it must be a working day.
Is IQ Option A Better Choice?
IQ Option has built up a good reputation in the market over the years. This can be seen from their regulated status and the rewards they have won. From their growth curve, based on the number of withdrawals made monthly, it is clear that they have a good reputation.
As of 2020, traders recorded withdrawals amounted to $1.5 million per month, and as of 2020, the figures had grown to over $10.8 million per month. Their official partnership with Aston Martin Racing from 2020 to 2020 further shows how committed and reputable IQ Option is, and they have and continue to demonstrate how online trading community can be trusted.
How Can I Open An Account With IQ Option?
Opening an account with IQ Option if free and easy; you only need an active email, Google+ or Facebook to sign up. After sign up, you get $10,000 in Demo account that you can freely use. From there you need to deposit a minimum of $10 to switch over to real money account. It is recommendable to verify your identity after switching to real money account to make the withdrawal possible.
Why Is My IQ Deposit Not Working?
IQ deposit could fail due to primary reasons; either your location or platform. If you are opening an account in a region that IQ option does not support, for instance, the USA, your deposit may fail. In terms of the platform, you are using, choosing a payment method that is not IQ supported will render your deposit efforts to fail.
Before proceeding, see to it that your region is supported and that the payment method is available. If you hit any snags, contact customer support for thorough assistance to ease your depositing effort.
What Does CFD In IQ Option Entail?
With CFD, you can hypothesize and trade following the price changes. Based on specific price movements of various assets such as stocks, cryptocurrencies, and indices, CFD in IQ allows you predict whether the asset’s underlying prices will rise or drop in a particular timeframe and trade accordingly. This will enable you to take advantage of the variance between the present and prospective prices, unlike in predetermined returns, as is the case in binary options.
How Can I Trade Forex In IQ Option?
Trading forex in IQ Option is quite easy. All you have to do is to choose the forex option from the “assets list,” choose the currency to match what you wish to trade in, the amount you want to invest and finally the multiplier if you like since it is optional.
After that, the next step is to plan your trade forex by applying trading limits that are, stop loss and take profit. The application allows you to control losses and lock in profits should the markets work against your favor. The next step involves selecting the direction that you think the FX match up price will take to enter a position.
Can I Buy And Sell Bitcoin On IQ Option? How?
Yes, you can buy or sell Bitcoin on IQ Option via cryptocurrency CFDs. However, you should note that the buying and selling doesn’t mean that you actually own BTC tokens, but you will be profiting as you speculate the token’s price movements.
Your Bitcoin activities will generate profits by the variance between the price at trade entry and exit. To trade Bitcoin on IQ Option, you simply visit the cryptocurrencies section and select Bitcoin on the list. After your selection, enter the amount you wish to invest, followed by entering the trading limits this is stop loss and take profit. If you wish to buy, click on “buy” or “sell” if your Bitcoin activity involves selling following your speculation on the expected Bitcoin’s price direction.
What Is Digital Options?
Digital options is a fairly new instrument designed to help you generate higher profits in comparison to binary options. This is made possible by allowing you to choose the strike price, that is, the price you expect the asset to reach, and a timeframe which is over your old position.
After your selection, the platform by design evaluates the expected profit. The best part is that you can exit a trade before its set expiry. This means that you can lock in profits or minimize losses.
How Do I Choose The Best IQ Option E-wallet?
IQ option offers a variety of eWallets to choose from. The best way is to choose an eWallet that you are most comfortable with. Among the available options include WebMoney, Skrill, and Neteller. Skrill is among the favorites owing to its fast processing time and no fees charged.
What Does The IQ Option Broker App Do?
The IQ Option broker app is software designed to run on your Smartphone or desktop. The app is specially designed to ease your logging into the trading account while making it more secure and faster. The IQ Option broker app operates on macOS, Windows, and iOS devices, as well as on Android.
Can I Trade With “Borrowed” Money On IQ Option?
Yes, with the IQ Option multiplier, you can trade with “borrowed” money. The IQ Option multiplier special feature permits you to enter a trade with more money than what you are investing. For instance, if you are entering a trade with $100, you could apply an X50 multiplier that turns your investment to $5000. It means that if your trade is successful, you make 50 times more than you could’ve had you traded with the initial $100 investment.
What Does Crypto In IQ Option Mean?
Crypto in IQ Option is a short form for cryptocurrencies. IQ platform avails various cryptocurrencies. Cryptocurrencies have become a popular virtual currency maintained by blockchain technology. The financial instrument’s popularity has made it a valuable choice for most traders all over the world. You can find 11 diverse cryptocurrencies offers on the IQ Option platform.
What Are IQ Options Pros?
• Flexible deposit options and accepts credit cards
• Seamless, secure, and fast with trading app
• Islamic account
WARNING! Please Take Note That Your Capital Is At Risk.
Note that when your in the EEA zone (Europe) the Binary options are prohibited
As you venture into CFDs, take your time to understand how they work and see if you can afford to accommodate the risk of losing your money. As they are intricate instruments, CDFs come with a soaring risk of swiftly losing your money due to leverage, taking into account that 74-89% of retail investor accounts lose money trading CFDs.
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IQ Option Review: Complete Beginners Guide
In this IQ Option review, we are going to take a look at one of of Europe’s largest CFD brokers.
This review will give you everything you need to know about the IQ Option platform and whether it is the broker you should consider. We also set up a live trading account which will give us first-hand experience of the broker from the perspective of a client.
Let’s dive right in and put the broker through their paces…
Is IQ Option Safe?
This is probably one of the most important questions for any trader that starts on a platform. Safety of funds and data are essential to a secure trading environment.
In the case of IQ Option, they are a regulated broker that has a licence to provide investment products in the European Union. The licence that IQ Option has if from the Cyprus Securities and Exchange Commission (CySec).
In order to obtain this licence, the broker has to meet numerous minimum requirements as it pertains to client funds, trading products and marketing restrictions. You can read more about CySec regulations on their website.
Client Funds Safety
In the case of client funds, all of the money has to be kept in a secure segregated account that is off limits for broker business. You can think of this as a safe deposit box for all client funds that has to be monitored on a regular basis.
This will ensure that IQ Option will always have a certain minimum of funds should the clients all decide to withdraw. This is very important as it ensures that there is liquidity at the exchange in times of market stress.
Moreover, the CySec regulators also have something akin to deposit insurance at the regulator level. This means that should anything ever happen to IQ Option, your deposit is insured up to a certain level by the regulators in Cyprus.
As is standard with most trading platforms these days, IQ Option is fully SSL encrypted. This means that all trader communication that is sent to IQ option servers is encrypted using AES 256 Bit encryption standards.
Why is this important? Well, hackers.
There has been a great deal in the news about the tactics of hackers when it comes to man in the middle attacks and phishing. Put simply, an SSL certificates are meant to limit the effectiveness of these attacks and protect the trader.
While we are on this point, it is worth mentioning that you should always make sure that you see the green padlock in your browser address bar (image right) to make sure that you are not visiting a phishing site. This goes for any broker or exchange.
IQ Option started out as an option platform that offered traditional assets to trade. These included assets such as stocks, commodities, ETFs and plain vanilla forex. However, they have greatly been increasing their offering of cryptocurrency assets.
In the chart to the right, you can see a list of all the cryptocurrency pairs that are on offer at IQ Option. There are over 12 pairs that you can currently trade and they are always adding more. These include the likes of Bitcoin, Ethereum, Ripple, Dash, Litecoin, Monero, Zcash etc.
Although these may be just perfect for the normal cryptocurrency trader, there are numerous other assets that remain on the legacy platform of spot that you can dabble in. They are listed below:
- Forex: For those traditional traders who like trading Fiat Forex, you have a great many options for traditional currency trading on IQ option. There are over 188 currency pairs from you to choose from as well as a range of different crosses between the pairs.For those crypto traders who are slightly more advanced, you can use the forex pairs in order to set up a crypto trade in your own local currency. You can open a CFD position on the USD cross as well as that of the cryptocurrency USD cross in question.
- Stocks: There are also hundreds of traditional stocks that you can trade on the IQ Option CFD platform. You have a selection of over 7,500 stocks to trade that are on a number of different global exchanges. These include the NASDAQ and the FTSE etc.
- ETFs: ETFs, or Exchange Traded Funds, are collective investment funds that allow you as the investor to trade on an index of stocks. IQ option has some of the most extensive lists of ETF instruments to trade with over 4,288 to choose from.
For their crypto, FX and stocks they currently offer these products as Contracts for Difference (CFDs). CFDs are derivative instruments that will pay out the trader based on the difference in price at the beginning and the end of the trading day.
CFDs are also levered instruments which means that you can take a much larger position on a trade than you have available. This could amplify your returns provided that you manage your risk in an appropriate manner.
In terms of the leverage the IQ Option provides with these CFDs, it differs according to the asset class. For example, you have leverage of 10x on Stocks, 20x on Cryptocurrencies and a really punchy 200x on Forex. It goes without saying that you should trade such instruments very carefully.
Of course, IQ Option is known for their option instruments. These include their Binary Option and digital option offerings. These instruments are asymmetric instruments which means that they have a defined loss and profit.
With these instruments, you will lay out a premium for the option trade that will usually be a small premium of the asset in question. You will also have an expiry time and an expiry price. If the option expires in the money then you can make a large return on your investment. If it expires out of the money then you will lose the premium.
Funding / Withdrawal
IQ Option has a number of payment options that traders can make use of. They accept cards from Visa and Mastercard. They also accept funding through numerous online wallets including Web Money, Skrill, Cash U and Neteller.
For those who would prefer to fund their account through a simple wire option, they also have that option. This will usually take a bit longer than a deposit via card but the fees will be lower for larger amounts.
For those traders who are merely starting out trading, the minimum account funding size is a mere $10. This will give you access to the real account (explained below). Payments that are made via wire can take a bit more 2 days and this depends on where you bank is located.
They also claim that you can withdraw instantly with no questions asked. They state that these can be withdrawn in under 24 hours and that you can process any withdrawal amount that you would like.
We wanted to test this so we opened an account at IQ option and deposited $100. Our deposit was a wire payment and took about 1 day to arrive (our bank is in the EU). We then requested a withdrawal of $10 after placing a few trades.
The team at IQ option told us that we still had to verify our account. After verification went through, our funds were indeed sent and took a little over a day to hit our account (less wiring fees). One thing that the trader has to consider is that they can only withdraw in the same manner through which they funded.
Customer service is something that is often in short supply among brokers and exchanges. This of course makes sense given the immense amount of people who want to invest and the limited number of exchanges where they can do this.
Hence, we wanted to test the customer support response times and effectiveness at IQ Option. We did this initially in the verification phase when we were waiting on our documents. For KYC purposes, IQ option required our proof of identity and address.
We sent our docs off and they took about 2 days to verify. During the period we send out a number of support tickets on the platform as well as corresponded with them on email. Response times were about 2 hours on average.
While these response times are not the best we have encountered, they are definitely below average. We also have to take into account that IQ Option has millions of accounts at the moment which is considerably more than all of the other brokers and exchanges on the market now.
There also seems to be a dedicated phone number for the team at IQ Option. This is not something that one often sees at exchanges or other CFD / Stock brokers in general. It gives a slight personal feel to the trading experience.
Jurisdictions & Languages
As mentioned, IQ Option is owned and operated by a company in the European Union. They are also a registered financial services provider in Cyprus with the registration number of 247/14. This means that they are legally allowed to take European clients. These clients will also have full protections afforded by CySec.
IQ Option has also spent a great deal of time translating their website and platform. For example, they currently have support for up to 13 different languages.
So that these traders could feel comfortable trading in a balance of their local currency, IQ Option allows funding in GBP, USD, EUR and the following other currency groups: RUB, IDR, MYR, Yuan.
In terms of the local laws, there are some countries that they are not operating in. Traders from the following countries unfortunately cannot make use of their services: The USA, Canada, Israel, Palestine, Australia, Russia, Syria, Iran, Japan, Belgium.
One of the great advantages that we found out about IQ Option was their free demo accounts. Unlike other exchanges and brokers, IQ option gives the trader $10,000 of demo funds that they can use to test out the platform.
They can trade on the demo platform as long as they like and there are no time restrictions. If you have depleted the practice funds then you can always have it replenished. This is a great way for new traders to test out their skills before they invest any live money.
You can also do this with practice funds without having to give over any personal information to start. Hence, you can quickly and easily test the platform without worrying about having to hand over any phone numbers or identity documents.
Once you are satisfied with the trading platform and are comfortable with your trading skills, you can move onto a live account and invest your real funds. There are two types of accounts at IQ Option for you to utilise. They are the Real account and the VIP account.
- Real Account: This is the entry level account at IQ Option and only requires a minimum funding amount of $10. With this account, you have access to over 70 asset to trade across a range of asset classes. This will have exactly the same platform functionality as the demo account.
- VIP Account: If you fund more than $3,000 then you will be placed into the VIP category. This has added benefit of a VIP account manager who is on hand to answer any questions that you may have with regards to the platform.The VIP account also allows traders to gather monthly reports on their trading record. This is put together by the analysts at IQ Option. These reports can help the larger traders to properly analyse their returns and make sure that their trading strategy was appropriate.
When we did our tests, we did it on the live trading account and not on the VIP account. Hence, although we have no reason to doubt the benefits, we cannot verify the exact customer support that you are likely to get from an account manager.
IQ Option Trading Platform
One way in which IQ Option really stands out is their state of the art trading technology. Apparently, there are over 100 developers who are constantly working on the platform in order to improve its efficiency. They have also consulted traders who have collaborated with these developers.
We went over the platform and were quite impressed with how functional it really was. Surprisingly, unlike numerous other platforms, it did not sacrifice the layout or simplicity in order to integrate the range of sophisticated trading tools available.
These tools include numerous charting packages such as technical indicators and studies such as Bollinger bands and moving averages. This could no doubt be a great advantage for all of the technical analysts out there.
There are also numerous layout options that are available on the web interface. This is achieved through the use of widgets which can be positioned to the trader’s preference. This is helpful for those traders who would like to be able to trade on numerous different assets simultaneously.
What is also great to note is that IQ Option offers its platform not only as web based platform but also as computer based programs. You can download the proprietary IQ Option Mac or Windows trading software. This will connect to the IQ Option infrastructure.
We tried these out and they were much faster than the web based platform. This makes sense as our trading instructions were going straight to the servers at IQ option and not through a website interface first. Moreover, there was no browser software to slow down our experience.
While the IQ Option platform no doubt looks impressive, the most important consideration is it’s functionality. No matter how impressive a platform’s UI is, the tools at your disposal are what make or break the trade.
Let’s run through some of the most important functions and tools that you can use on the platform.
Like most trading platforms these days, you will have a range of different order types that you can submit when trading. On the IQ Option platform, these will differ according to the asset in question.
For example, when trading on IQ Option, there are a number of short/medium/long term strategies with a variable return utilizing the following order types:
- Multiplier: The multiplier is a coefficient that allows you to increase both the return on an investment and the level of risk.
- Stop Loss: This allows you to set a maximum loss that you are willing to accept. When a stop loss is triggered, it closes the trade.
- Take Profit: A Take Profit works very much like a stop loss expect on the opposite side of the trade. It will close out the trade once a desired profit has been realised.
- Trailing Stop:Trailing Stop makes ‘auto-close at loss’ operate dynamically and move with price in the desired direction.
- Purchase at (Pre-Order): This allows you to set a target price to enter the market.
Stop Loss Tools
Apart from just having the stop loss order types, IQ Option has some of the most diverse selection when it comes to setting your stops / take profits.
This is a major departure from most of the other platforms where you merely choose an asset price for your stops. Traders can utilize the following functionality:
- Take Profit
- Take Profit at X% Profit.
- Take Profit at Numerical Profit X.
- Take Profit at Asset Price X.
- Stop Loss
- Stop Loss at X% Loss.
- Stop Loss at Numerical Loss X.
- Stop Loss at Asset Price X.
- Trailing Stop (Dynamic Stop Loss)
- Use Balance to keep positions open.(if exceeded stop loss)
IQ Option Charting
IQ Option has a wide variety of charting options tailored to suit the needs of any trader. There are the following five different options to choose from:
- Area: Shows price as a line with a shaded area underneath.
- Line: Shows price as a line without a shaded area underneath.
- Candles: Shows a period of time, the price at the start and end of the period, and the volatility over the period as solid colours.
- Hollow Candles: Shows a period of time, the price at the start and end of the period, and the volatility over the period as hollow positive candles and solid negative candles.
- Bars: Shows a period of time, the price at the start and end of the period, and the volatility over the period as a vertical line with open and close prices as horizontal lines.
IQ Option offers 13 different technical indicators to choose from.
Indicators are the backbone of technical analysis and are used by day traders almost religiously. They are extremely useful when it comes to spotting trends, mapping momentum and identifying potential retracements.
IQ option has 13 different indicators that you can activate on the charting interface. These indicators are listed below with a brief explanation as to their use.
- Moving Average: Moving Averages are a group of technical indicators that are commonly used to determine the current trend. The most popular averages are the Simple Moving Average(SMA), the Weighted Moving Average(WMA), the Exponential Moving Average (EMA) and the Smooth Simple Moving Average(SSMA). Moving Averages are used in other technical analysis indicators such as Bollinger Bands, Alligator, MACD and Awesome Oscillator.
- Volume: The Volume indicator shows what amount of the selected asset was sold and purchased within a certain period of time. This is one of the few indicators that is not based on asset price. A high volume indicates a high interest in the asset at its current price and vice versa.
- Bollinger Bands: Bollinger Bands belongs to the category of ‘trend indicators’, They reflect the dynamic range of the price movement. With their help, many traders determine the relative position of the price movement.
- Alligator: The Alligator is an indicator for assessing the market movement direction and filtering no-trend-periods (Side Band). Its main purpose is to display the signal of an emerging trend. It is worth noting that this indicator is applicable to almost all time intervals and therefore can be considered cross functional.
- RSI: The RSI (Relative Strength Index) is used to determine the strength of a current trend and its possible reversal points. RSI compares the absolute asset price growth within a certain time period with the total price reduction within the same period. The result is visualized as curve on the chart with a range of 0 to 100%.
- MACD: The MACD (Moving Average Convergence Divergence) shows the convergence and divergence of moving averages. This indicator is a visualized ratio of two exponential moving averages. Its goal is to determine the strength and direction of the trend. The signal line in the indicator window is a simple moving average of the indicator values.
- Parabolic SAR: The Parabolic SAR is based on the price chart and displayed as a series of small dots. In terms of purpose, it is very similar to moving averages; the only difference is that Parabolic SAR moves with higher acceleration and changes its position depending on the price. When the trend is ‘Bullish’ (Upward), the indicator is below the prices; when the trend is Bearish (Downward) the indicator is above the prices.
- Stochastic Oscillator: Stochastic Oscillator (Stoch) indicates the current position of of the price in relation to the extrema within the selected period and is expressed as a percentage from 0 to 100. It gives signals of overbought or oversold conditions and helps identify at what points the market is ready for a reversal.
- Awesome Oscillator: The awesome oscillator is visualized ratio of two Simple Moving Averages (SMA’s)[1x Fast 1x Slow] in the form of a bar chart, Crossing the baseline here has the same effect as crossing SMA indicators on the price chart. This indicator shows the completion and development of new trends. Many traders consider Awesome Oscillator to be a simplified version of MACD.
- ATR (Average True Range): Unlike most indicators, ATR cannot predict the movement direction. It displays exclusively the current volatility of the trading asset within the selected period. Moreover, ATR determines the quote change rate. Active movement of ATR indicates an increase in the range of candlesticks.
- ADX (Average Directional Movement Index): The Average Directional Movement Index (ADX) is always ahead of the curve and shows the strength of a trend (upward/downward trend or weakening) prior to the start of the price movement. ADX indicator can also be used to identify potential change in market volatility.
- Fractal: Fractals are a series of at least five Japanese Candlesticks. The central candlestick is always higher or lower than the surrounding ones. The main purpose of Fractals is to display local minima and maxima of the price curve and indicate market reversal points.
- CCI (Commodity Channel Index): This indicator belongs to the class of oscillators that measure the speed of a price movement. CCI is designed for determining the upcoming market reversal. CCI can be used to assess the strength of the current trend or detect extrema. In general, CCI is very similar to ADX and can also be used as a tool to determine the market trend, as the CCI change rate depends on the strength of the current market trend.
IQ Option Mobile Trading
One thing that we have noticed on a number of exchanges and platforms is the lack of any mobile trading functionality. This can be disadvantageous for those traders who would like to monitor their positions when they are away from their PCs. Moreover, markets can move really quickly and time is often of the essence.
IQ option has developed their trading technology on mobile trading devices. They have apps on the iOS apple store as well as on Google play as an android version. They are free to download and you will connect your account to the app when you have it on your device.
Although the functionality has been scaled down in order to not compromise the visual effects of the app, there is still quite a bit of functionality with some charts, indicators and pair choice. It would indeed be easy to manage a number of different trades simultaneously on the device.
The only issues that we encountered were that trades were placed with a slight delay from the app. This could probably have been down to the network connection in the area that we were testing. Hence, if you would like to avoid any delays in execution then you should make sure that you are connected to a Wi-Fi on your phone.
IQ Option Trading Competitions
Something else that we came across that really intrigued us was the IQ Option trading competitions. These are essentially head to head trading competitions between a number of the users on the platform with prizes on offer.
As traders are naturally competitive to their core, this is a great opportunity for them to test their skills with their fellow traders. These competitions require a small fee to join and usually last for about 30 minutes. Hence, these are more for day crypto traders than those who trade using fundamental analysis.
Prizes are often cash prizes that can be multiples of your initial buy in amount. When you enter the competition you will be given the demo funds to trade with and the trader who was able to make the most returns in the period will win the loot.
It is important to note, however, that these competitions will require a certain minimum of traders to enter before the competition gets underway. If they are not able to garner the right amount of traders then the daily competition will be called off.
While this will no doubt bring an angle of fun to the trading, we found it slightly gimmicky. However, for those who want have a shot of making 100x their buy in amount while testing their skills, it could be a great option.
Earning OTN Tokens
Specifically for the cryptocurrency traders on IQ option is the option to earn OTN tokens when you are trading. These are essentially tokens of the Open Trading Network that are being given to traders through their weekly “emissions”.
The Open Trading Network aims to be the first platform that will offer cross-chain technology that will unite all of the blockchains and allow for a large decentralised crypto exchange. They are making it easier for people to exchange their various tokens. You can read more about it in the OTN whitepaper.
We are currently in the distribution phase of the OTN tokens. This is where the Open Trading Network will partner with a number of brokers such as IQ option to distribute OTN among the community. The expected launch of the OTN wallet will be in March 2020 with support for 7 tokens in total.
They are given to traders based on how often they trade so those traders who have traded more in the week are entitle to more OTN tokens. Hence, not only could you get the benefit of trading cryptocurrency and making returns from that but you could get additional tokens.
The OTN tokens can also be sold on a few centralized exchanges such as Cryptopia and HitBTC.
IQ Option Affiliate Program
If you are one of those traders that has many people that you would like to recommend to IQ option then you can make use of the IQ Option Affiliate program. This is essentially a commission based structure that will pay you based on the trading fees that your referral will generate.
They also operate with a certain tiered structure where more signups brings you more rewards. This means that if you are able to bring in a certain amount of business, your benefits as an affiliate on the IQ option platform will increase.
When you start out promoting CFDs at IQ option as an affiliate, you will get a 50% “revenue share” deal with the broker. What this means is that for the lifetime of the client, IQ Option will pay you 50% of what they earn.
This makes it look much better than many of the other alternatives that still have relatively low partnership agreements with their affiliates (10-20%). Moreover, given that these are lifetime agreements, you will receive it as long as your referral is trading at IQ Option.
How Does it Work?
You will have to sign up for an affiliate account at IQ option. Once this has been done you will be assigned an affiliate manager. They will then give you everything that you need to know about the platform as well as ask you to complete affiliate KYC and compliance.
Once you have been approved, you can start promoting IQ Option with the affiliate link that they provide. You will start off on the first level of affiliate which will give you the 50% revenue share of the broker’s profits.
You will then accrue earnings from IQ option and based on the performance and the returns of your promotions you could advance to the next level which has other benefits such as instant withdrawals as well as slightly higher commissions.
The IQ option affiliate dashboard is really advanced and allows you to track the traffic from your referrals as well as who has signed up and the amount that your affiliates are trading. This will give you a nice picture of how your affiliate performance is going.
One thing that we have noticed among cryptocurrency exchanges and brokers that offer affiliate programs is the lack of accompanying promotional material. They often expect the person to create their own banners and videos to promote their brand.
The affiliate program at IQ Option provides a range of banners, videos, scripts and iframes that allow you to most effectively market the product. They can all be accessed in the IQ Option affiliate dashboard and you can search for them based on instrument, asset or language.
Affiliate Program Reputation
There are many brokers and exchanges that will happily take your referrals and then keep your fees when it comes to time to pay you your funds. Given the reputation of IQ Option and their regulated status, they have to make sure that everything is completely 100% above board.
You are only allowed to promote their product in the most ethical way and they regularly monitor your marketing materials and traffic to make sure that you are abiding by their terms and conditions.
Given their reputation, IQ option is probably one of your best bets when it comes to receiving your commissions. They will pay out twice monthly and if you are on a level that allows you to withdraw instantly, they will honour that too.
In terms of payment options, they are able to pay you in much the same way as the traders in that you can either use wires, Neteller, Skrill or the like.
Customer Complaints of IQ Option
We would not be able to complete a full review of the IQ Option if we did not take a look at the reputation that the company has online. There are a number of people in forums who have made claims about IQ Option and their customer service.
Most appear to be clients who did not want to comply with the KYC procedures when they wanted to withdraw. IQ option allows clients to fund their accounts before they have requested all of the documents for the client. This means that there could indeed be some frustration on the part of the clients.
However, these are similar procedures at a number of the largest Bitcoin exchanges where funds cannot be withdrawn until you have sent them the correct KYC docs. These are even for a number of the exchanges that even do not have Fiat withdrawal functionality.
We also found a number of positive IQ option reviews so it seems as though there was not really an established trend when it comes to the reputation of IQ option.
Is IQ Option the Broker for Me?
Our comprehensive review has found that IQ Option is no doubt a great option for those traders who want to trade derivative instruments on a range of different cryptocurrency pairs, Forex assets, stocks and ETFs. We were really impressed with the trading platform as well as the extension of device applications.
The customer support was also above par and our queries were settled in a reasonable amount of time. The only time that we really needed them was on verification which is exactly when most traders will need them. Having the telephone number there also adds some confidence for the trader. We must not forget that IQ Option has been adding millions of accounts while other exchanges have been turning them away.
Apart from the general trading experience, we found the option to earn OTN tokens a great benefit for those day traders who did volume. These can essentially be considered as free “Air-drops” where you are rewarded for trading.
One of the most important factors for us, and no doubt many other traders, is the fact that they are fully regulated and client deposits are safe. If there are any liquidity issues at IQ option then European regulators will back the client up with the guaranteed deposit policies.
Of course, there are some things that IQ option can do to improve their service. For example, they can include a number of other cryptocurrency Altcoins that are currently in the top 100. They could also consider adding other Fiat / Crypto crosses such as the GBP or EUR for example.
It would also be great to see if IQ Option will eventually allow API access to the platform so that those traders who like to code trading algorithms can link up to it. We hope to see developments on this sometime soon.
Yet, for those traders that are in a jurisdiction that they cover, we can definitely recommend IQ Option as a reputable CFD broker.
Risk Warning: Trading CFDs and Options could put your capital at risk. Always manage your risk appropriately
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