IQ Option is a binary options broker that started operations in 2013. Ever since it came to the binary options market, the broker has been able to gather a huge membership due to its innovative features and low minimum deposits. Based in Cyprus, IQ Option offers traders one of the lowest minimum deposit and investment amounts in the binary trading industry. The broker offers more than 500 underlying assets for traders and promises huge returns on investment. It has an intuitive trading platform which provides a seamless trading experience. IQ Option is regulated by CySec and has won many awards and accolades from the industry regulators and users. In this IQ Option review, we will provide you with all the information about the operations of the broker.
To start trading on IQ Option broker, first, you need to complete a simple sign up page which requires your name and some little information about you. Trading is easy for every category of users as the minimum deposit for trading is an extremely affordable $10! Next is to choose the type of account you want to open. IQ Option offers traders two live accounts which include the IQ Option Standard and VIP accounts, as well as the IQ Option Demo account.
IQ Option Standard Account
A minimum deposit of $10 or 10 British Pound Sterling is required to open this account. Traders with the IQ Option Standard account have access to trade in over 500 assets on the platform and have unrestricted access to all the trading instruments provided on the broker’s platform. They can also compete in IQ Options weekly tournaments and can withdraw their earnings within one office day.
IQ Option VIP Account
The VIP account comes with the features of the standard account plus some extra benefit but requires a minimum balance of $3000. Traders with the VIP account also get additional 3 percent returns on all successful trades and a personal manager to help them run their accounts.
IQ Option Demo Account
IQ Option Demo account gives new users the opportunity to learn how the platform works without risking their money. The demo account has all the functions of the real account and $1000 virtual money to be used for practice trading.
IQ option supports various channels of deposit and withdrawal. Traders can deposit through wire transfer, credit and debit cards, and e-payment channels. The binary options broker accepts funds through credit and debit cards such as Visa, MasterCard, and Maestro. Deposits can also be made via Skrill, WebMoney and Neteller e-payment systems.
IQ Option broker accepts deposits in USD, EUR, GBP, RUB, BRL, TYL, IDR, MYR, CNY, and VND.
Withdrawals are usually from the channels of deposit, and the trader will have to choose the currency. The minimum withdrawal per day is $2, and the maximum is $1 million. Withdrawal is effected within 24 hours for every account category, although the process can take up to three days. Also, IQ Option requires the verification of identity for the first withdrawal. This is done to prevent fraud and keep to Anti-Money Laundering regulations. For withdrawal through wire transfers, IQ Option charges a commission of $53, but withdrawal through credit or debit cards and e-payment channels attract no charges.
IQ Option has one of the most innovative trading platforms in the binary options industry. The trading software is owned by IQ Option and was designed for simplicity of use and efficiency. IQ Option trading platform has many features and tools that help traders increase their chances of making a profit with reduced risks. The latest version of the trading software was released in 2015 and comes with enhanced capabilities designed to make trading hitch free. With the new version of the trading platform, traders can use candlesticks to increase their market analysis to a period of one month. IQ Option trading platform also supports technical indicators such as the Awesome Oscillator, MACD, Parabolic SAR, and the Stochastic Oscillator for more accurate market analysis. Additionally, IQ Option trading software has a historical price database of more than two years which can be used by traders to fine-tune their trading decisions. The minimum investment amount on IQ Option trading platform is $1 while the maximum investment amount is $5000. Trading takes place 24/7.
The IQ Option trading platform has an easy to use mobile application which is available for Android and iOS mobile devices. With the mobile app, traders can trade binary options on the go, check market analysis, and access the learning resources on the platform. The app is secured and provides a rich trading experience almost better than its browser version.
Traders on the IQ Option trading platform can choose from three different types of options. These include:
– Turbo Options: These are short-term options with an expiry time less than five minutes
– Binary Options: These options have expiry times starting from 15 minutes.
– Classic Options: These are options with unlimited profitability.
IQ Option provides traders on its platform over 500 assets form five major categories which are:
– Forex pairs
– US Stocks
– Eurozone and Global Stocks
IQ Option has a well-stocked educational resource center on its website. The binary options broker offers its customers an interactive learning experience with training materials such as videos and tutorials to help them learn the best trading strategies. Whether you are a pro or a beginner, you will find something useful in their educational resource center.
Traders on the IQ Option platform can participate in its weekly trading tournaments. Prizes for each competition vary and can range from cash wins of $100 to $100,000.
IQ Option pays as much as 92 percent returns on all winning trades.
CySec of Cyprus regulates IQ Option. The broker is mandated to keep the identity of its clients and their trading activities secret. Also, traders’ funds must be kept safe, and every activity on the platform must be in line with AML regulations. Being regulated means that the broker is reliable as their operations are under the scrutiny of the regulatory body which ensures that traders’ funds are well managed.
IQ Option has a robust customer service which is available round the clock to attend to customer needs. The customer support is accessible via email, telephone, and live chat for real account holders. The customer support is available in 13 different languages including English, Arabic, Hindi, Chinese, French, Italian, and German and so on.
IQ Option supports the trading of seven cryptocurrencies through CFD instruments. The cryptocurrencies are:
– Bitcoin Cash
A flaw we noticed during this IQ Option review is that the broker does not accept traders from countries such as the USA, Australia, Canada, Russia, Japan, Turkey, Iran, Israel, Syria, and Sudan.
– The broker is regulated.
– It has a small minimum deposit and investment amounts of $10 and $1 respectively.
– It has a high payout rate of 92 percent.
– Weekly tournaments.
– The broker has a user-friendly and intuitive trading platform.
– Demo account.
– IQ Option Does not accept traders from the USA, Australia, Canada, Russia, Japan, Turkey, Iran, Israel, Syria, and Sudan.
– Live chat support available only to live account holders.
With the information gathered from this IQ Option review, we believe the binary options broker is in the top echelon of reputable brokers in the binary options industry. Its proprietary trading software is easy to use and has a great mobile version for trading on the go. Their low minimum deposit and investment amounts create an equal opportunity for every category of traders, and they offer traders the opportunity to win great cash prizes from their weekly trading tournaments. Even though the broker does not accept traders from some countries, it does its best to create a smooth trading experience for its traders with over 500 assets for trading. IQ Option is no doubt a leader in the binary options brokerage business.
This article may also be interesting: 24Options Binary Option Review.