IQ Option Review
What is IQ Option? Although considered a relatively new trading platform that mainly caters to investors who want to earn returns over short periods of time, binary options have been around since the year 2000, the first broker open to the public was Banc de Binary. On the IQ Option platform you can trade a variety of financial instruments such as: Forex (currency pairs), Bitcoin and CFDs.
These options provide traders with payouts that come in the form of a fixed amount or nothing depending on the trading platform chosen. Their ability to reward investors quickly has made these options very popular among investors.
- 1 What is IQ Option? Let’s Explain the Basics of Options
- 2 IQ Option Trading Plataform
- 3 How Does Cryptocurrency Trading Work at IQ Option?
- 4 Account Types
What is IQ Option? Let’s Explain the Basics of Options
Binary options have two basic types – the Call / Put options. This is the most basic option, with a specific expiration date/time along with a strike price. In this type, investors get a fixed return upon expiration of the option.
For example: An investor has invested $10 in a trade, at the end of this trade that can vary from 30 seconds to a year, with an expected return on investment of 90%, the trade was successful, so the investor will reap $10 + 9 = $19. In some cases, this financial instrument are mixed with other instruments to get even higher returns. Many use the martingale strategy, but this method can be very risky.
Investing in binary options is essentially betting on whether the price of stocks or commodities will increase or decrease above or below the strike price at the time an option expires. For transparency purposes, brokers usually disclose the strike price, expiration, payout and risks associated with an option.
These are the basics of options investing, but more importantly, an investor must use the services of a binary options broker to profit from this investment. These brokers are more than capable of analyzing trends that, more often than not, lead to sound investment decisions. There are many binary options brokers that provide investors with the assistance they need to navigate the market.
IQ Option Trading Plataform
Among the main reasons for the high honors related to the IQ Option platform was its ease of use. We often see fixed time trade brokers trying hard to keep their platform uncomplicated and user-friendly. This broker is able to reach these goals, while also delivering their platform in a way which is attractive and draws traders in.
Each trade component is clearly labeled and even starting traders should come across no problems in having the ability to easily navigate the website. There are several platform languages to select from, including English, French, German, Italian, Portuguese and Russian.
|Headquarters:||IQOPTION LTD Address: Hinds Building, Kingstown, St. Vincent and Grenadines - Address: Ionos 20, 4th floor, Flat/Office 401, Egkomi, 2406 Nicosia, Cyprus|
|Support Number:||United Kingdom+44 20 8068 0760| Brazil+0800 878 3257 | Singapore+65 3163 7458|India +91 000 800 040 13 61 | South Africa +27 87 550 21 61 | Portugal +351 882 880 034 | Spain +34 90 086 16 12 | Thailand +66 2 104 07 95 | Australia +61 261 452 936 | Argentina +54 115 173 7455 | Chile +56 442 045 012 | Colombia +57 800 755 0167 | Mexico +52 18 002 889 985|
|Support Types:||Chat 24/7, Telephone, email|
|Languages:||USA, English, Spanish, Arabic, Chinese, Thai, Vietnamese, Malay, Portuguese, Indonesian, Hindi, French, Italian, Korean, German, Turkish, Urdu, German, Norwegian|
|Trading Platform:||Proprietary Platform IQOPTION LTD|
|Minimum 1st Deposit:||$10|
|Minimum Trade Amount:||$1|
|Maximum Trade Amount:||$5000|
|Bonus:||$10.000 Free Demo|
|Leverage:||30:1 Retail Traders, 1000:1 Professional Traders|
|Regulation:||IQ Option Europe Ltd is operated by Infofield Premier Ltd (Registration No: HE324593) and Investlab Holdings Ltd (Registration No: HE327751). Since Investlab Holdings Ltd is regulated by CYSEC (License Number: 247/14), this means traders trading on the platform are also protected under the provisions of the MiFID.|
|Fee Info:||IQ Option does not charge their traders any commissions or fees for trading on their platform.|
|Commission Info:||Zero Commisson|
|Account Types:||Real Account This can be accessed with the $10 minimum investment and there are no restrictions on trading functionality, VIP Account Make a deposit of $1900 or an equivalent amount in other currencies, or Have a trading volume of $15000 “IQ Option Ltd. provides VIP status for traders from non-EEA countries”|
|Deposit Methods:||Maestro, Visa Electron, credit cards Visa, Master Card, Skrill, WebMoney, Cash U, Neteller, Moneybookers, Neteller, Bank Transfer|
|Withdrawal Methods:||Maestro, Visa Electron, credit cards Visa, Master Card, Skrill, WebMoney, Cash U, Neteller, Moneybookers, Neteller, Bank Transfer|
|Trading Methods:||Day Trading, Scalping, Momentum Trading, Swing Trading, Position Trading|
|Number of Assets:||Over 100|
|Expiry Times:||1 day, 1 month, 1 minute, 5 minutes, 15 minutes, Year|
|Types of Assets:||FX Options Forex Stocks Crypto, Commodities Indices and ETFs Dash Ethereum Classic IOTA, Ripple Litecoin, and Monero - EUR/USD USD/JPY GBP/USD USD/CHF USD/RUB AUD/USD EUR/RUB USD/CAD EUR/CHF EUR/JPY AUD/CAD AUD/CHF AUD/JPY AUD/NZD CAD/CHF CAD/JPY СHF/JPY EUR/AUD EUR/CAD EUR/GBP EUR/NZD GBP/AUD GBP/CAD GBP/CHF GBP/JPY GBP/NZD NZD/CAD NZD/CHF Gold (XAU/USD) Silver (XAG/USD) BRENT Natural gas(NG) COPPER PLATINUM MSCI Brazil U.S. Real Estat NASDAQ Reversal 2х S&P500 Bitcoin Ethereum ETH/BTC LTC/BTC Ripple (XRP)|
|Option Types:||Order Types: Multiplier orders, Stop loss orders, Take profit orders, Trailing stop orders|
|Account Currency:||USD, EURO, BRL, GBP, Yuan, MYR, IDR, RUB.|
|US Traders Allowed:||No|
The interface also provides easy links to chats, trading history and customer support, and in case of problems, users can quickly open a dialog with the support team. Another prominent feature is the resources section that provides access to training and education materials. Several short training videos are integrated into the site, customers can access these resources without having to leave their training accounts.
The demo version of the trading platform is also the same as the live version, traders can improve their skills using the $10,000 virtual funds that come with the practice account. Even if things go wrong, these funds can be replenished, giving traders a consistent set of funds to practice with.
The service has its own native mobile app, which takes binary options trading to new heights. The mobile app is perhaps one of the best on the market due to its ease of use and great graphics. It is also fast, making it popular with most traders, as opposed to the desktop version.
The app is ideal for traders who are always on the go, allowing them to trade in real time, anytime, anywhere. It has notable security features, including the ability to allow users to log in using their fingerprints or, if they prefer, through their Facebook or Google accounts.
Unique IQ Option Feature
A key feature about the IQ Option trading platform is the ability for traders to make multiple trades on the same chart.
This is especially useful when traders want to employ trading strategies, such as the “fence” trading strategy, as they can easily display their buys against the up and down of the underlying asset.
IQ Option Instrument Types
Currently, traders only have the ability to trade the classic Buy/Sell instrument. However, the trader can decide to trade classic or faster with the Turbo instrument feature.
Contract Put Option
To reduce trading risks and make it even more reliable and interesting, IQ Options launched the possibility to sell binary options contracts in advance. This means that we can make a sell before the contract expires.
How does this work? It’s very simple, after opening the transaction, you can sell the option at the price proposed by the market maker without waiting for the expiration time you selected. It is a very important feature for traders who want to invest in a professional and safe way.
For users interested in testing the platform, there is a demo account facility accompanied by $10,000 in renewable virtual funds, this means you can use the demo account infinitely. IQ Option requires a low minimum deposit and new traders can get started by just depositing $10 to gain access to a live account. There are currently two trading account options:
How to sign up
The best way to get started is to sign up via Facebook, Google, or simply create an account using an email address. After entering your details and creating a password, you can proceed.
Once done, you can immediately use your practice account or complete your live account before moving on to live trading. A pop-up will notify you of the creation of your demo account and live account.
IQ Option has developed its own proprietary platform and this makes browsing the site a pleasant experience. The platform is designed with an intuitive approach, and it is very easy to locate all the tools and features. The free demo account also offers users the possibility to trade on all underlying assets. As a result, there is a variety of options regarding the types of trades and users can quickly switch between their preferred assets. The platform also offers a variety of charting tools, such as Bollinger bands and moving averages, which help improve trading capabilities.
How Does Cryptocurrency Trading Work at IQ Option?
IQ Option currently offers seven different cryptocurrencies for storage in its wallet, Hodly is an advanced security wallet that helps users quickly buy, sell or hold a wide variety of cryptocurrencies. This saves people the trouble of having different wallets for each type of coin and allows you to buy coins directly from your bank account balance. For your trading needs, Hodly also provides a built-in market data feed, so you can look at investment opportunities related to your coins. The market data comes complete with real-time market charts to allow you to make quick and profitable trades when you see an attractive price movement.
- Bitcoin Gold
- Bitcoin Cash
What Other Services Does IQ Option Offer?
The company has recently expanded its product offering, while they have kept trading binary options, their focus seems to have shifted to Digital Currencies. We have to note the fact that while IQ Option’s website mentions something about customers actually buying cryptocurrencies, the trading platform only supports cryptocurrency-based CFDs.
There is a separate section for Crypto CFDs, which has 13 assets. Most of the major market capitalization currencies are supported, starting with Bitcoin and Bitcoin Cash, IOTA, Dash and Monero.
The CFD section is mainly focused on cryptocurrencies as well. While in the cryptocurrency sections, all virtual currencies are paired with the US, in the CFD section, cryptocurrency/cryptocurrency pairs, such as LTC / BTC and ETH / BTC, are also available.
The binary options section is simply called “options” these days, and features 23 tradable assets. This asset selection mainly covers currency pairs, but there are some indices, commodities, and stocks included as well. The percentages of return on these options are 95%, but in practice they are usually a bit lower, covering the 85-95% range.
New Product IQ Option – Digital Options
The main difference between digital options and binary options is the strikes (strike price). The strike can be understood as the market entry point. For example, in Binary Options, strike is always the price or chart position for the current moment, while in Digital Options we can choose the most profitable strike level.
At any given time, you have 22 different strikes to choose from. Note that the number of strikes displayed on the platform may vary depending on the chart’s scale and the market situation. The return in Digital Options depends directly on the risks, so the maximum profit in this instrument is increased to 900%.
The possibility to buy several options for one expiration date, along with many strikes, provides the trader with a high amount of opportunities. For example, with the help of Digital Options, it is possible to open positions in advance. This allows you to enter the market with a clearly successful position, but with a lower percentage of profit due to underestimated risks compared to conventional options.
With Digital Options, the trader, as always, has the opportunity to sell his position before expiration (but at most 20 seconds before the end of the transaction) and, depending on the current price, make a profit or claim a portion of the invested funds.
Earn OTN tokens
IQ Option is also looking to compensate users who trade cryptocurrencies on the site, and there is an extra bonus available in the form of OTN tokens. IQ Option, in collaboration with The Open Trading Network, has developed a system that sees traders on the site being rewarded with OTN tokens. The reward tokens are currently being allocated through weekly distributions or “issues” and the more trades a user makes, the more OTN tokens they are eligible to receive.
OTN tokens can be used to pay commission fees on the platform according to IQ Option’s internal rate; Users of the IQ Option platform are rewarded for their trading activity through a method that seeks to facilitate future trades on the platform.
IQ Option Withdrawals
There is always a button that leads to the operator’s own personal account – “personal office”, where the withdrawal button is available. The only thing to be done is to set the amount of money, currency and payment system. After that, you only have to submit an application, withdrawal can take up to 3 business days.
IQ Option International Reputation
In 2013, the platform was named as the one innovative binary options broker. With its colorful design and many useful accessories, the platform is equally well accepted by beginners and professional traders alike because it provides clear and fast trading and virtually anyone can learn to use it in a matter of minutes.
IQ Option Security
So you want to invest in options but are afraid of security risks? This is no problem for IQ Option, which ensures that your money and personal data are safe at all times. This is further enhanced by the fact that the platform is regulated by Cysec (Cyprus Securities and Exchange Commission). If you want to give the service a first try, the provider provides a demo trading mode.
The IQ Option demo account can be accessed within seconds, all that is required is to log in with a Facebook account, and you can start trading immediately. Since the demo account is to teach you about binary options trading, profits are limited to 50-60%, a bit limited for those who are used to high winnings. However, it is more than enough if you just want to test the platform.
IQ Option Regulation
One of the most important things when entering into a partnership with a broker is to check their regulation. IQ Option is regulated by CySEC, which supervises the activities of financial services companies to ensure compliance with the laws and regulations of the Republic of Cyprus and the European Union. IQOPTION EUROPE LTD. holds License No. 247/14.
- Demo account
- VIP account
- Real Account
IQ Option Customer Support
IQ Option allows users to contact the support team via email, contact form, and a chat function. The site claims to answer all questions within 46 seconds and aims to resolve all tickets within 24 minutes. There are currently around 83 customer service specialists on staff and traders who need more personalized service can upgrade to the VIP account which comes with a personal account manager.
The site is also available in 4 other major languages such as English, Russian, Turkish, German, Spanish, Portuguese, Chinese, Swedish, Korean, French, Italian, Arabic, Indonesian.
- Live Chat
IQ Option is an impressive platform that offers users a great trading experience. The site blends a good level of transparency and functionality, users can feel comfortable knowing that the platform is compliant with the latest financial regulations.
Trading on the site is generally a fairly smooth experience and the platform uses an intuitive interface that is easy to navigate. The platform and trading application is functional enough for professional traders, while at the same time simplistic enough to allow new traders to learn the trading process without difficulty.
IQ Option is an up-and-coming company which has grown to manage nearly 30 million accounts and process 6 million transactions per day. The site also enjoys a trading volume of $20 billion per month and pays out approximately $10.7 million to its users monthly.
The site has its drawbacks and users who require extensive interaction with a customer service agent may not be served by the two account levels. To be in consistent communication with a personalized account manager, traders are expected to pay a $3,000 fee, which may be too restrictive for some. The site is also proving popular with traders around the world and despite IQ Option devoting time and energy to developing its customer service, there is a possibility that users may have to wait for more than 24 minutes for their inquiries to be processed.
Finally, IQ Option is not available to residents of countries such as the United States, Canada, and Japan. These countries are home to a large number of financially savvy people and the platform would be better off with their presence. However, IQ Option still caters to traders from over 180 countries and provides a comprehensive service to all its users. The platform caters to stock, Forex and cryptocurrency trading and individuals who sign up can be sure to interact with an intuitive platform that provides access to a variety of trading features and options.
Pros / Cons
- Easy Trading Platform
- Fast Withdrawals
- Low Minimum Initial Deposit Requirement
- Regulated Broker
- Unlimited Earnings
- Supports multiple languages
- APP Mobile User friendly
- No US Traders