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IQ Option Review
IQ Option is an online trading platform that lets you trade a wide variety of financial instruments, including binary options, stocks, forex, ETFs, commodities, and cryptocurrencies. In this IQ Option review, I will tell you everything you need to know about this broker to help you decide if this company is right for you.
This broker was established in 2013 and is operated by IQ Option LLC With over 48,000,000 registered users and 1,300,000 transactions per day, IQ Option has quickly become one of the most popular trading platforms for traders around the world. IQ Option accepts merchants from over 213 countries, including India, Nigeria, South Africa, the Philippines, Malaysia, Pakistan, and many more.
IQ Option Review – Best Broker for Binary Options Trading
Searching for the best binary options trading platform all over the world can be complex. With such a mix of genuine and scam brokers competing for the local market, it is not surprising that there have been a few scams along the way. But this has not dampened the appetite for digital options trading.
We’ve listed the best binary options trading sites to let you trade Binary Options and Digital Options as an American trader.
- Maximum Profit: up to 100% (For a correct prediction)
- Minimum trade: $1
- Minimum deposit: $10
- Assets: 300+ Crypto, Stocks, Commodities, and Currency Pairs
- Platform: Web, Android, iOS, and Windows
IQ Option Review – One of the most trusted online trading app
IQ Option is a trusted broker with verifiable track records and one of the most reputable companies in the industry. Their intuitive trading platform is the best around and we recommend IQ option for traders of all experience levels, which are just starting out.
- Year Founded: 2013
- Minimum Deposit: $10
- Minimum Trade: $1
- Payouts: 100% Max (For a correct prediction)
- Assets: Over 300+ Currency Pairs, Stocks, Crypto, Commodities, ETFs
- Financial Instruments: CFDs, Binary Options, Digital Options
- Trading Platform: iOS, Android, Windows, and MacOS
- Demo Account: Yes
IQ Option Review – Trading Platform
Unlike other brokers that use the standard trading platform, IQ Option has a proprietary custom-built platform to cater to the needs of its users. The platform is very easy to use and well designed. It has many useful features including a multi-chart layout, technical analysis, historical quotes, volatility alerts, market updates, stock screeners, economic calendars, and much more. It is available in 13 different languages.
Within the IQ Option trading platform, you can trade a variety of assets and financial instruments, including stocks, digital options, binary options, forex, cryptocurrency, ETFs, and commodities.
In the picture below, you can see that the chart is in the middle. The buy and sell boxes are on the right. The balance of your account and the assets you are trading are at the top of the screen.
On the left side of the platform, you’ll see a drop-down box that lets you choose which financial assets to trade. Your available resources to choose from, include cryptocurrencies, ETFs, stocks, options, forex, indices, and commodities. You can browse resources by category or use their search function to find a specific resource.
On the right side of the trading platform interface, you will have the option to enter the amount you want to trade and the amount you want to buy or sell. You can write a multiplier if you want to multiply your potential profit by a coefficient. However, a multiplier increases the risk as well. You also have the ability to automatically close trades when the asset reaches a certain threshold you set.
What Assets Can You Trade With IQ Option?
IQ Option originally started out as just a binary options broker, but they now offer clients the ability to trade CFD on Cryptocurrencies, ETFs, forex, and stocks.
According to this review, IQ Option allows CFD trading of leading stocks like Facebook, Apple, and Tesla.
IQ Option Review – Forex
FX trading is one of the most popular trading markets on IQ Option. This broker offers competitive spreads and wide currency pairs including EUR / USD, USD / JPY, GBP / USD, USD / CAD, AUD / USD, NZD / USD, and USD / CHF. Currently, there are over 50 Forex pairs on the IQ Option platform.
IQ Option Review – ETFs
The IQ Option gives you the ability to trade CFDs in exchange-traded funds, also known as ETFs. An ETF is where many different assets come together in one basket. There are currently 23 ETFs to trade.
IQ Option Review – Cryptocurrency
IQ Option lets you trade CFDs in 12 different cryptocurrencies, including Ethereum, Bitcoin, Ripple, Neo, Cosmos, Binance Coin, Litecoin, Cardano, ZCash, TRON, Stellar, Iota, Dash, EOS, and Bitcoin Cash. You can expect great margin trading leverage and small selling options with fast deposits and easy withdrawals.
IQ Option currently offers CFDs on 3 commodities for trading.
Trade Types and Payouts
A binary options is a financial instrument that provides a definite return for an accurate market forecast of the value of an asset within a predetermined time frame or at maturity. Accurately predicting the price movement of an asset (up or down) can yield up to 100%. Trading binary options in IQ Option has a minimum investment of $ 1, a brokerage fee of $ 0, and a maturity time of 60 seconds to the end of the month.
A digital options is a financial instrument that allows you to estimate the amount of price movement of an asset. Payment for digital options can be up to 900% if the asset reaches the threshold set by the trader. The minimum investment for digital options is $ 1 and the expiration time is 60 seconds to 15 minutes.
IQ Option offers over 15 different technical indicators to help you identify trends and make profitable transactions. The 15 technical indicators available to you include MA, Volume (Exchange), Bollinger Bands, Alligator, RSI, MACD, Parabolic SAR, Stochastic Oscillator, Awesome Oscillator, ATR, ADS, Fractal, CCI, Ichimoku Cloud, KD, Timing.
IQ Option Review – Charting Tools
To help you get the most out of trading with IQ Option, brokers offer a variety of charting tools that can help you build a successful trading strategy. The 5 charting tools available in the IQ option include area, line, candle, hollow candle, and bar.
IQ Option gives clients the ability to trade options and CFDs using their proprietary mobile application. The mobile app works on Android and Apple iOS operating systems. It’s available for download through the Apple Store or Google Play.
The app is very easy to use and has a very clean and intuitive graphical interface. It has the same charting options that you can also find on their regular web-based platforms.
By using the IQ Option mobile app, you can:
- Execute Trades
- Check Account Status
- Stay Updated With Market Developments
- Use Charting Tools
- Setup Customizable Alerts and Push Notifications
IQ Option Review – Account Types
IQ Option has 2 different types of trading accounts to choose from Standard and VIP.
For a standard trading account, a minimum deposit of $ 10 is required. Unlike other CFD providers, there are no restrictions on trading performance. You will have access to over 300 assets for trading as well as fast withdrawal processing. You also get access to the various trading competitions held on the IQ Option platform.
A VIP trading account is only available to clients who deposit a significant amount. You can speak to your account manager if you are interested in a VIP Account. A VIP account includes a dedicated account manager, a monthly report of your trading record, and a higher payout.
IQ Option Demo Account
Like many brokers, IQ Option offers a free demo account with $ 10,000 virtual money. There is no limit to how long you can use a demo account. It gives you the ability to test different trading strategies and get acquainted with the platform before investing real money. Once you run out of virtual funds inside your demo account, you can replenish them so you can continue practicing.
You can register for a demo account without depositing any funds into your account. Only a valid email address is what you need to create a demo account. This is not always the case with other brokers, as many companies require you to provide your complete personal details to get access to the demo account.
IQ Option Review – Cryptocurrency Multiples
IQ Option recently launched a product called “Cryptocurrency Multiples”. The product basically works like a leveraged trade, where the price movement of an asset is magnified by a multiplier. Cryptocurrency multiples were originally created with the concept of Bitcoin X100 This in turn increased the price movement 100X times, creating a great opportunity for traders as well as risk.
Due to the popularity of Bitcoin X100, IQ Option has expanded the concept to IOTA, Ethereum, Ripple and other cryptocurrencies. The multipliers you need to choose from include X20, X50, and X100.
IQ Option offers its traders a wide range of orders and stop-loss tools to reduce losses and increase profits in binary options trading.
Stop-Loss Order – This feature allows you to set the maximum loss that you would like to receive in a trade. When this type of order reaches your specified amount, the trade is automatically closed to limit your losses.
Multiplier Order – This feature allows you to improve the return on your investment through multiplier. If you set a multiplier, the movement of asset value will increase by 20X, 50X or 100X This feature can dramatically increase your profits as a result, but it can also put you at greater risk.
Take a profit order – This feature is the exact opposite of a stop-loss order. You can close a trade early and take your profit when you reach a certain amount.
Pre-order – This feature allows you to enter the market when an asset reaches your specified price. Once the assets reach that value, the trade will automatically take effect.
IQ Option Review – Company details
Over the years, this binary options broker has been effective, winning multiple awards for clients, and praising the quality and reliability of its services. IQ Option is recognized by millions of traders worldwide as one of the best brokers in the industry. The registration details of IQ Option are:
IQ Option LLC, Registration No. 905 LLC 2021, Address: Hinds Building, Kingstown
St. Vincent and the Grenadines.
IQ Option Review – Minimum Deposit
The minimum deposit to open a real account with IQ Option is $ 10 USD. This broker does not charge any processing fee for depositing funds. To make your first fund withdrawal, you’ll need to go through an account verification process that may require photo identification. Some countries will have different requirements than others.
For your convenience, IQ Option offers a variety of ways to deposit money into your account, including credit cards (Visa and MasterCard) and wire transfers. This broker accepts a variety of e-wallets, including Skrill, Maestro, WebMoney, Neteller, CashU, and Moneybookers. IQ Option does not accept PayPal as a payment method.
The minimum withdrawal amount for the IQ Option is $2. To request a withdrawal, you need to use the same payment method as your deposit because the transaction is processed as a refund. Then, you can choose any method of payment for withdrawal.
In order to withdraw funds from IQ Option, you need to verify your identity. This verification process can take up to 3 days and is necessary to prevent fraudulent activity and protect your account from unauthorized use.
All withdrawal requests are processed by the IQ Option within 3 business days. If you request to withdraw money on a bank card, it may take extra time depending on your bank.
Is IQ Option Safe?
Yes, Online trading with IQ Option is safe. The company is one of the largest and most successful binary options brokers in the industry with over 48,000,000 registered users. The following screenshot clearly shows the popularity and trustworthiness of the IQ Option Online Trading App.
Bonuses and Promotions
IQ Option does not offer any bonus deposit while writing this review. It stands apart from other online brokers because of its hig-tech trading platform, efficient customer support, and higher profitability as compared to other leading brokers in the industry. Hence, with IQ Option it is worth trading even without availing of any bonus deposit.
IQ Option Review – Countries and Languages
Presently IQ Option does not accept traders from Afghanistan, Albania, Australia, Belarus, Belgium, Canada, the Czech Republic, Iran, Israel, Japan, Latvia, North Korea, Palestine, Portugal, Russia, Spain, Switzerland, Syria, Ukraine, the UK, and the USA. Always check for the latest information about restricted countries on the IQ Option website as it keeps changing from time to time.
Countries Accepted By IQ Option
IQ Option accepts clients from more than 213 countries including Argentina, Bangladesh, Bolivia, Botswana, Brazil, Cambodia, China, Colombia, Egypt, Ghana, India, Indonesia, Ireland, Jamaica, Korea, Nigeria, Germany, Kenya, Malaysia. Maldives, Macedonia, Mexico, Morocco, Namibia, Netherlands, New Zealand, Pakistan, Philippines, Saudi Arabia, Serbia, Somalia, South Africa, Sri Lanka, Tanzania, Thailand, Turkey, United Arab Emirates, Uganda, Zambia, and Zimbabwe.
IQ Option offers a variety of customer support, including email, telephone, and online chat. For your convenience, IQ Option offers toll-free phone numbers in the following countries: Thailand, Kenya, and Venezuela. And for online chat support, the average wait time is an impressive 38 seconds. For email support, the average response time is 14 minutes.
Is IQ Option a scam?
Absolutely not! As of 2022, this broker has 48 million registered users from more than 213 countries worldwide. The number of active traders is increasing every year and there are no signs of any change to traders’ volume. They process more than 1 million transactions per day.
IQ Option is a genuine online trading platform and one of the most reputable companies in the industry. Their intuitive trading platform is one of the best and we recommend IQ Option for traders of all experience levels, from beginners to advanced.
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.