Best Binary Options Broker 2020!
Good Choice for Beginners!
Free Trading Education, Free Demo Account!
Get a Sign-Up Bonus Now!
2nd in our ranking!
Full potential of the IQ Option Platform
For many traders and business owners, a great command of strategy, understanding of the market, and attention to details are critical requirements in becoming successful in the industry. But more than these characteristics, an understanding and mastery of the platform and its features are equally important.
Knowing the right trading tools and using these the right way can have an impact on your success when it comes to closing deals. So the challenge to every trader is knowing brokers platform (in our case – IQ Option broker) and how to use the tools at their disposal. Here’s a quick overview of the functions you may don’t know well. So let’s see how well you know the IQ Option trading platform.
1. Using the balance to keep a position open
As you can see in the image, this feature of the platform allows traders to keep a deal active even if it passed through the auto close level. If you are out of the money but you have a feeling that the price will reverse, then this option can definitely help. The available funds in the balance are used to fund the deal if in case price moves in the other direction. If it reverses and moves in the identified direction, the deducted funds will be returned.
Position auto closing feature
2. Trailing stop feature
This is a helpful feature of the iqoption platform that allows you to collect a profit once the trade is in the money. Once you set the ‘Stop Loss’ level, it will move along the asset’s price if it moves in the identified direction. It will stop in case the price will not move into your expected price direction. Let’s say that you have invested in a EUR/USD pair and predicted the price to go up and set the Trailing Stop Loss at 50%. Now, if the price moves up, the Stop Loss Level wile then rise along the expected direction.
3. Purchase at
As shown in the image below, this tool will allow you to create a pending order based on your own preferences and requirements. To set your option, you need to configure the multiplier, investment amount, Stop-Loss, and the Take Profit levels. Next, you will need to identify the price of the asset at which you want to initiate the position. Once done, you will need to identify the opening of the position, whether a Short or Long one and simply click the button which is displayed on the right side of the screen.
As soon as these steps are taken, a confirmation will be shown on the screen. As soon as the price reaches the identified level, an order is triggered and an order automatically created.
4. Market Analysis
Did you know that this IQ Option platform can also provide with an analysis of the market by demand? With the use of the Market Analysis tool that is incorporated on the platform, you can easily get an understanding of the market. You can take a look at the cryptocurrency market, movement of forex exchange (forex calendar), and you can even forecast the movement of stocks. This tool is also easy-to-use and you don’t need to open a number of tabs just to monitor the situations. By clicking on a certain asset, you can easily get the information that you need.
That’s all! In short – This platform provides you with all the information and resources in just one platform. If you want to do your trades the right way then make sure to use this platform in the right way! And also make sure, that you have the proper knowledge to make in-the-money traders.
To educate yourself you can use our articles about:
- Technical analysis
- Fundamental analysis
- Meta Trader 4
- Money management
- and much more in our learning academy.
Good luck in trading!
Best Binary Options Broker 2020!
Good Choice for Beginners!
Free Trading Education, Free Demo Account!
Get a Sign-Up Bonus Now!
2nd in our ranking!
More about the author J. Pro
Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn’t very successfull with dropshipping on Amazon and other ways of making money online, and I’d only earn a few hundreds of dollars in years. But then binary options caught my attention with it’s simplicity. Now I’m glad it did because it really is worth it. More posts by this author
Beginner’s Guide to IQ Option: Complete Review
IQ Option is an online trading platform that enables customers to trade a variety of financial instruments and assets such as Binary Options, Stocks, Forex and of course Cryptocurrencies.
Founded in 2020 and operated by IQ Option Ltd, the site has quickly became one of fastest growing online trading platforms and claims to have over 20 million account holders from around the world.
IQ Option is also based in Cyprus and regulated in the EU by the Cyprus Securities and Exchange Commission (CySec), the company is fully compliant with the legislation put forward by the commission and fully authorized to sell their products to clients in a number of jurisdictions.
Risk Warning: Your capital might be at risk.
Take a look below as we walk you through the site and offer our full review of the service.
IQ Option at a Glance
|Minium Initial Deposit
|Asset Coverage||CFDs, ETFs, Forex, Cryptocurrency, Stocks, Indices, Commodities|
|Leverage||30:1 Retail Traders, 1000:1 Professional Traders|
|Trading Platforms||Proprietary Web, Mobile App|
What it Offers
IQ Option is a comprehensive trading platform that provides its users with a wealth of alternatives, and after starting out as a binary options broker, IQ Option now allows customers to trade Contracts for Difference (CFDs) on stocks, Cryptocurrencies, Exchange Traded Funds (ETFs), Forex, and a range of various digital options.
- CFD on Stocks – IQ Option allows users to trade CFDs on stocks from over 176 different companies, including the most successful businesses listed on the NASDAQ and NYSE.
- Cryptocurrencies – Users can also trade 12 of the top cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, Monero, Zcash, Omisego, IOTA, and Dash.
- ETFs – EFT trading is a relatively new product, and ETFs work by tracking commodities, indices and baskets of assets. These can be traded in the same way as common stocks, and traders can choose from approximately 4288 different ETFs.
- Forex –FX trading, or Forex, is an extremely popular trading market and IQ Option provides access to around 188 currency trading pairs. This allows users to trade their favourite foreign currencies with ease.
- Options – Users can speculate on the price of a number of different assets, which include currencies, stocks, indices and commodities. The platform currently provides a gateway to over 10 million options.
IQ Option Demo Account
Like many competitors, IQ Option offers a demo account. However, IQ Option’s demo account stands out. This is because there is no limit on how long you can use the demo account. That allows you to get truly comfortable with your trading techniques. It also allows you to test new trading strategies in the future.
The IQ Option demo account includes $10,000 in virtual funds. If you use all of those virtual funds, you can easily have the amount replenished, allowing you to continue practicing your trading techniques.
Another standout element of the demo account is the fact that you do not need to provide personal information before using it. This is not always the case with competitors. The lack of personal information required for a demo account helps potential clients protect their privacy.
IQ Option Real Accounts
IQ Option requires a low minimum deposit and new traders can start off by just depositing $10 in order to gain access to a live account, there are currently two trading account options:
- Real Account. This can be accessed with the $10 minimum investment and there are no restrictions on trading functionality. This account provides access to over 70 assets and users can request withdrawals that are processed within 24 hours. Real account holders can also take part in various trading competitions held on the platform ( customers outside of the EU ).
- VIP Account. – This is available to Traders who:
- 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”
- In addition to the features found on the real account, the VIP account also includes a personal manager who is always ready to assist traders with any queries and issues. The VIP account also comes with a monthly report on user trading records, which is performed by the platform’s analysts and gives customers valuable feedback on their performance.
IQ Option Signup
The best way to get started is to sign up via Facebook, Google, or to simply create an account by using an email address. After inputting your details and creating a password you can proceed.
When this is done you can immediately use your practice account or top up your real account before moving on to live trading. A pop-up will notify you of the creation of both your practice account and real account.
IQ Option has developed its own proprietary platform and this makes navigating the site an enjoyable experience. The platform has been generally well designed with an intuitive approach and it’s quite easy to locate all the various tools and features. The free demo account also provides users with the possibility to trade with all of the underlying assets. As a result, there are a variety of options regarding types of trades and users can quickly switch between their preferred assets. The platform also offers a range of charting tools such as Bollinger bands and moving averages which all help enhance trading capabilities.
IQ Option Deposits
With IQ Option, there is a minimum deposit of 10 USD/GBP/EUR. You can select your preferred form of deposit, and IQ Option does not charge any fees for depositing funds.
To make your first deposit, you will need to go through the account verification process which in the EU involves adding your phone, personal information, adding your trading experience and uploading photo identification. Different countries will have different requirements and also will need verification to make withdrawals from the site.
IQ Option offers its customers a number of ways to make deposits and withdrawals to and from their trading accounts. Users can currently use debit services such as Maestro and Visa Electron, or credit cards like Visa and Master Card. Customers can also use a host of payments processors such as Skrill, WebMoney, Cash U, Neteller and Moneybookers.
There is also the option to process payments via Wire Transfer and the current minimum withdrawal amount is $2, while the estimated time to withdraw funds is 1 business day. Your bank may charge fees for this process.
As of the time of writing, IQ Option still does not allow for deposits via PayPal. However, the platform is working to make this an option.
IQ Option Withdrawals
When it comes time to withdraw funds from your IQ Option account, the method used will vary based on the deposit method. In the case of deposits via a credit or debit card, you must withdraw the initial deposit amount onto the card. Since this transaction gets processed as a refund, you can only withdraw up to this amount to your credit or debit card, including deposits made within the past 90 days. Any profit that is over this amount will need to be withdrawn via a bank transfer or your chosen e-wallet.
The e-wallet options for withdrawals are identical to those for deposits, including Skrill, WebMoney, and Neteller. Alternatively, you can withdraw those profits via a bank transfer. Keep in mind that opting for a bank transfer does come with a fee of $31. In the case of deposits made via an e-wallet, you must withdraw the funds to your same e-wallet account.
Regardless of your withdrawal method, IQ Option will process your request within three business days. Bank cards and payment providers may require additional processing time.
Keep in mind that before you can withdraw funds from your IQ Option account, you must verify your account by submitting identification documents. This involves uploading:
- A photo ID, such as a driver’s license or passport
- In the case of a deposit made via a bank card, you must also upload an image of both sides of every card used. Hide the CVV number and the middle digits of your card number. Keep the first six and final four digits visible. This is for your own security.
How to Trade on IQ Option
Trading on IQ Option is relatively intuitive and the trading platform is very well designed. You will see the chart is in the center with buy and sell boxes to the right hand side. Your balance is displayed at the top along with any assets you are currently trading.
You can use the drop down located at the top left of the chart area to choose which instrument to trade. The drop down contains FX Options, Forex, Stocks, Crypto, Commodities, Indices and ETFs and from that you can then select or search for your chosen asset.
You trade right from the Web Trader’s interface. To the right of the graph for your chosen asset, you will see options to buy and sell. You simply fill out the amount of the asset you wish to purchase and submit your order.
You can also place an order easily via the mobile application, and the overall setup is very similar. To the right of your chart, you will see the same options, with the ability to adjust investment, leverage, and price and then select buy or sell. For clarity, this section of the trading platform will also display the spread.
Users can also easily search for their favorite cryptocurrencies and analyze all of the most relevant and up to date information. In addition to offering Bitcoin and Ethereum, IQ Option also offers at least 10 other cryptocurrencies to trade. These include Dash, Ethereum Classic, IOTA, Ripple, Litecoin, and Monero.
Risk Warning: Your capital might be at risk.
The interface also provides easy to find links to chats, trading history, and customer support, and in the event of any issues, users can quickly open up a dialogue with the support team. Another standout feature is the resources section that provides access to training and education materials. A number of short training videos are integrated into the site and traders can access these resources without having to leave their training accounts.
The demo version of trading platform is also the same as the live version, and traders can improve their skills by using the $10000 of virtual funds that come with the practice account. Even if things go badly, these funds can be replenished, giving traders a consistent pool of funds to practice with.
Order Types & Stop Loss Tools
As is expected of modern trading platforms, IQ Option gives traders a range of order types to reduce risk and customize the trading experience. The variety of order choices lets traders create strategies that are short-, medium-, or long-term and featuring a variable return. Multipliers let traders increase the risk level for an investment with a corresponding increase on the return.
Stop loss orders let traders set maximum losses that they will accept, automatically closing the trade if it is triggered. Take profits do the same thing but when the trade reaches the profit you specify. A trailing stop will lead to dynamic operation of an auto-close at loss, moving with the price in the direction the trader indicates. Purchase at preorders lets traders set a price at which enter the market.
To supplement the order types, IQ Option offers a range of tools for setting stops and take profits. While most brokers just let you select the asset price, IQ Option lets you set the take profit or stop loss at either a percentage, numerous loss, or specific asset price. There is also the choice to apply the dynamic stop loss or trailing stop and the ability to use the balance to keep a position open if it exceeds the stop loss.
There are numerous order types available with IQ Option, with the specific types of order available varying by asset.
- Multiplier orders allow you to increase the return on investment and your level of risk via a coefficient. This is a popular tool among advanced traders, but it should only be used by those with experience due to the increased risk. When used properly, it can dramatically increase potential profits.
- Stop loss orders let you set maximum losses that you will accept. When this type of order gets triggered, it automatically closes the trade to minimize your losses.
- Take profit orders are almost the opposite of a stop loss order. You indicate the amount of profit you want to reach, and the order automatically closes when it reaches this point.
- Trailing stop orders build on the idea of a stop loss by dynamically using auto-close at stop. A trailing stop order will move with the changes in price in the direction that you indicate.
- Finally, a purchase at or pre-order lets you choose the price at which you want to enter the market. When the market reaches this point, the trade will automatically be executed.
To ensure traders can get the most from the IQ Option trading platform, the broker offers a long list of charting tools that can provide insights and help clients craft their trading strategies.
Candle charts are among the most popular for IQ Option traders. These candles indicate a period of time, with solid colors indicating volatility during the given period and points marked for the price at both the beginning and the end of the given period.
Hollow candles are similar. However, instead of always using solid colors, the positive candles are hollow and the negative candles are solid.
IQ Option also offers area charts that show the price in the form of a line, complete with shading for the area underneath. Line charts are similar, but the area underneath the line is not shaded.
Finally, bars, like candle charts, cover a period of time you specify. They indicate the prices at the beginning and end of the period but do so with vertical lines. There are complementary horizontal lines that display the prices at open and close.
With the indicators on IQ Option, you can spot trends and better identify potential trades that will lead to profit. IQ Option offers 13 indicators that are available via the charting interface.
Many can be used independently or together to maximize your results and insights.
- Moving Averages (MAs) include Simple Moving Averages, Weighted Moving Averages, Smooth Simple Moving Averages, and Exponential Moving Averages. These can help provide insights into current trends and can be used with other indicators.
- The Moving Average Convergence Divergence (MACD) shows where moving averages converge and diverge, essentially visualizing the ratio between two Exponential Moving Averages (EMAs).
- The Parabolic SAR has a similar purpose to moving averages. However, the position changes based on the price and it moves in conjunction with higher acceleration. It shows up in a group of small dots.
- The Awesome Oscillator indicates a visualized ratio of two SMAs (Simple Moving Averages), with one fast and one slow. The indicator helps show new trends’ development and completion.
- Bollinger Bands are trend indicators showing a dynamic range for price movement.
- Volume Indicators show the quantities of your chosen asset that were bought and sold within a given period, indicating interest.
- The Alligator Indicator helps you assess market movement in terms of direction and assists with filtering Side Bands (no-trend periods). Overall, this indicator helps traders find emerging trends, and it is cross-functional.
- The Relative Strength Index (RSI) helps figure out a current trend’s strength, as well as potential reversal points. It compares asset price growth (absolute) with the total price reduction, showing it via a curve.
- The Stoch or Stochastic Oscillator indicators show a price’s current position in comparison to the extremes from your selected period. This is shown as a percentage and helps you determine likely reversal points.
- The Average True Range (ATR) displays a trading asset’s current volatility within your chosen period and determines the change rate of quotes.
- The Average Directional Movement Index (ADX) shows a trend’s strength before the price movement begins. It can also indicate potential market volatility changes.
- A fractal is a series that includes a minimum of five Japanese candlesticks, showing the local maxima and minima of price curves as well as market reversal points.
- Finally, the Commodity Channel Index (CCI) measures the speed associated with price movements. It helps traders determine upcoming market reversals and can detect extrema or assess a trend’s strength.
IQ Option places a good amount of focus on its users and the platform enables customers to trade with confidence by incorporating a number of features that greatly enhance the overall trading experience. These include:
IQ Option offers a mobile web trading solution in addition to a specific mobile application, which gives users greater flexibility regarding mobile trading options. The app has a clean, intuitive graphical interface and is easy to use; it also has most of the charting options found on the standard platform. The app also provides push notifications, and users can set key trading levels which result in alerts any time these levels are breached. The app works on tablets as well as smart phones and the platform is available to both Android and Apple iOS device holders.
If you are outside the EU, then Customers are provided with the chance to test their skills against other traders via a number of Binary Option tournaments. These frequent tournaments are usually around 30 minutes in length and require a small entry fee. After signing up, users are given $10k in virtual funds and at the end of the competition; the trader with the highest returns wins a prize.
The prize can be fixed or be related to the number of people who entered the tournament, and at best allows the winner to receive a payment of up to 100x the entry fee. If users deplete their virtual funds, they can buy in again and continue to take part in further tournaments. This provides users with an interactive way to test their trading capabilities as well as pick up new trading techniques.
As always, please note it is possible to lose your entry fees when taking part in competitions.
Education and Training Resources
IQ Option also makes a wealth of data available for all its users, and the site incorporates training resources that can benefit both newer and more experienced traders. These include various trading videos, as well as webinars and tutorials. Users also have access to a number of e-books and an FAQ section that covers the most common questions. These training materials provide valuable information to for traders of different abilities and experience.
IQ Option Affiliate Program
IQ Option offers an affiliate program for those who want to supplement their income by encouraging others to sign up to use the platform. When you become an affiliate, you simply share your affiliate link, whether this is on a website, blog, or somewhere else. From there, a user will click the ad or link. When they sign up, it will be associated with your unique ID.
Your rewards arrive when the users you encourage to sign up start trading on IQ Option. Based on the trading activity of the client, you can earn as much as 70 percent of the broker’s profit. This continues for life, allowing for passive income opportunities. The earnings are paid out two times every month, and you can choose your preferred payment method. To date, IQ Option has 115,410 affiliates in 178 countries. On the day of writing, IQ Option affiliates had already earned $35,015.50 just that day alone. You can view up-to-date figures on the countries, customers, affiliates, and amount earned by affiliates for the day on the IQ Option affiliate page.
The IQ Option affiliate program does not allow for a negative balance, as there are no deductions from your profit, only profits. There is also cross-platform support with options for mobile and web, multilanguage support, and universal links. The program even provides analytics, complete with reports that include data filters.
In addition to the regular affiliate program, IQ Option offers an IQ Option CPA program, which it advertises as among “the most lucrative” programs of its type within the industry. Qualified traders can receive payments between $35 and $1,200. As with the regular affiliate program, the CPA program receives payments twice each month and gets useful data. There is also a convenient calculator to determine approximate income from CPA program affiliates.
History of IQ Option in Numbers
As mentioned, IQ Option was founded in 2020. Since then, the broker has grown considerably and includes specific figures on its website to help show its growth. Starting with the number of active users, there were 8,110,000 registered users in 2020, which had nearly doubled to 14,680,000 by 2020 and reached 25,580,000 in 2020. This represents registered user growth of a whopping 17 million just between 2020 and 2020.
Not only did IQ Option have an expansive growth in active users, but the countries that these traders were from increased. In 2020, IQ Option had traders in 135 countries, growing to 148 countries in 2020, 150 in 2020, and 151 in 2020.
IQ Option also lists the figures related to trades throughout the years. Between 2020 and 2020, the number of daily transactions increased by nearly 70 times. Between 2020 and 2020, this figure grew another 2.5 times. For those interested in specifics, 2020 had an average of 646,000 transactions each day, which increased to 956,000 by 2020 and 1.8 million by 2020.
Or you can look at the figures representing growth in terms of trading volume per month. Between and 2020, this figure increased by about 23 times. In 2020, the figure was $16 million, which became $89 million, an increase of 5.5 times in just a year. By 2020, this was $184 million, more than doubling in just a year. Between 2020 and 2020, the monthly trade volume increased to a whopping $380 million. This means that for two consecutive years, IQ Option doubled its monthly trading volume.
That trading volume does not all stay inside the platform. Instead, there is also an increase in the amount that traders withdraw from the platform each year, showing that the active users are truly earning money. In 2020, traders withdrew $1.5 million per month, which became $5.8 million in 2020 and $10.8 million in 2020. In other words, 2020 saw 1.8 times more money withdrawn by traders from IQ Option compared to the previous year.
It is also worth noting that these withdrawals have increased in speed. In 2020, IQ Option made changes to offer instant withdrawals. This allowed for 68 percent of withdrawal requests to be processed immediately. Now, the average time for processing a withdrawal from IQ Option is just one day. The order processing has similarly improved, now averaging just a second.
IQ Option also offers indications of how its customer support has improved over the years. When chat support began in 2020, there was an average wait of 7 minutes for a reply in chat, which decreased to 4 minutes in 2020, 46 seconds in 2020, and 38 seconds in 2020. On a similar note, the amount of time it took to answer a ticket decreased from two hours in 2020 to 24 minutes in 2020 to just 16 minutes in 2020. Some of this is also due to the growth of the support team, which only had 25 members in 2020 but grew to 39 members in 2020 and 78 in 2020.
The number of affiliates has also grown from 3,000 in 2020 to 84,000 in 2020. This included 21,000 affiliates in 2020 and 48,000 in 2020. Along with the growth of affiliates, those affiliates have consistently earned more every year. Affiliates earned $200,000 monthly in 2020, $810,000 in 2020, $2.3 million in 2020, and an impressive $4.6 million in 2020.
IQ Option Awards
Over the years, IQ Option has accumulated an extensive list of awards, each of which shows off one of the platform’s strengths. The Academy of Interactive & Visual Arts honored IQ Option with the 2020 Award of Excellence, which is the highest honor from the Communicator Awards. IQ Option was recognized by the voting committee as the top trading app in the Financial category.
In 2020, IQ Option earned the Rising Star award for “The intelligent trading app for binary options” from the Mobile Star Awards, the largest annual awards program worldwide for mobile software and innovations. The organization praised IQ Option for its design and efficiency.
The Web Marketing Association honored IQ Option with the Best Technology Application in 2020 for the company’s mobile application.
IQ Option also earned the Century International Quality Gold ERA Award from the Business Initiative Directions Group as recognition for the company’s commitment to Excellence and Quality, especially within Customer Satisfaction.
Going back a bit further to 2020, IQ Option earned the title of Best Binary Options Broker Europe 2020 from the Global Banking & Finance Review. The broker also earned the title of Most Innovative Binary Option Platform from the IFM Awards in 2020, as well as the Best Mobile Trading Platform in the same awards.
Global Brands Magazine, which is a reputable brand observer in Britain, honored IQ Option with the title of Fastest Growing Binary Option Brand. In the Forex Awards 2020, IQ Option was named the Best Trading Platform. Also in 2020, the MasterForex-V awarded IQ Option as the World’s Leading Binary Options Broker and the Most Reliable Binary Options Broker.
The FX Report Awards named IQ Option the Best Binary Options Broker in 2020. In 2020, the same year IQ Option was founded, the company earned the title of Most Innovative Binary Option Broker from Moscow’s ShowFx World conference. At the IAIR Awards, IQ Option earned multiple awards, including the Best Binary Options Broker and the Best Binary Options Broker/Trading Application.
IQ Option Jurisdictions, Languages, and Countries
IQ Option has clients from 151 different countries. The platform and website are currently available in 13 languages, allowing traders from around the world to trade in a language they are comfortable with. For further international appeal, IQ Option lets traders select from one of the following currencies for funding: GBP, EUR, USD, Yuan, MYR, IDR, and RUB.
IQ Option is owned and operated by a company within the European Union. As such, IQ Option has a license from CySec, the Cyprus Securities and Exchange Commission. To receive that license, IQ Option met, and must continue to meet, minimum requirements related to marketing restrictions, client funds, and trading products. The registration in Cyprus as a financial services provider has number 247/14, giving IQ Option the ability to take on European clients, who then receive full CySec protections.
Due to CySec regulations, all client funds must be stored in segregated accounts that IQ Option cannot access for its own brokerage business. CySec regulators also offer a level of deposit insurance, which protects a certain level of all investments made with IQ Option if something happens to the broker.
IQ Option USA
Unfortunately, IQ Option is not available to traders in the United States. The broker is available in 178 countries around the world, but the United States has stricter restrictions and regulations, meaning American traders cannot use the broker. Other countries that you cannot use IQ Option in include Canada, Russia, Australia, France, Japan, Belgium, Turkey, Israel, Iran, Syria, and Sudan.
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 respond to all queries within 46 seconds and aims to resolve all tickets within 24 minutes. There are currently around 83 customer service specialists on the team and traders who require a more personalized service can upgrade to the VIP account which comes with a personal account manager.
IQ Option retains an international focus and aims to cater to traders from around the world. The platform offers the possibility to trade in a variety of different currencies such as USD, GBP, EUR, Yuan, RUB, TRY, IDR and MYR. In addition to this the site also provides support in languages such as English, French, Italian, Spanish, Portuguese, Chinese, Korean, Arabic, German, Turkish, Thai, Hindi, Urdu and Norwegian.
However, due to a variety of different regulations, the site does not provide its services to citizen or residents of the United States of America, Australia, Canada, Belgium, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea or Russian Federation.
IQ Option also adheres to the required standards of identification and users should note that when they register for a trading account they must provide their personal data and verify their email address and telephone contact number. Potential users who are unable to do this will be unable to complete their account registration.
- Also after funding your account, you will be asked to provide further personal information in order to complete your account verification. IQ Option will expect to receive copies of identification documents such as:
Passport or National ID Card issued by a Government Authority
- Proof of Address in the form of a Utility Bill or Bank Statement is required from EU residents.
IQ Option Customer Reviews
Most online reviews from customers of IQ Option are positive, but there is the occasional negative review, as should be expected. Some complaints relate to the fact that IQ Option requires KYC procedures to verify your identity before you withdraw funds. However, these procedures are normal for any broker dealing with fiat currency, and even many cryptocurrency exchanges require KYC procedures.
Some users also indicate that withdrawing funds can be challenging at times with the occasional issue related to having an account blocked. However, this does seem straightforward to resolve and may come down to KYC issues; the reviews are not clear on the cause.
Those reviews that indicate complaints against IQ Option are regularly interspersed with positive reviews. It also seems that many of the negative reviews posted online are not actually from customers. Instead, they are from people who claim to have had issues as a way to promote another service. When you look at online reviews from people who claim to be customers of IQ Option, remember to take them with a grain of salt since many are clearly from competitors or people with ulterior motives.
When read with a critical eye, the overall trend of seemingly valid reviews of IQ Option from customers seems to be neutral to positive.
Is IQ Option a Scam ?
While carrying out this review and researching other people’s opinions online, we found a number of complaints from people calling the site a scam. Some reasons mentioned are that they disabled a person’s account which didn’t allow them to withdraw their balance and a lot of disgruntled people who seem to have lost money trading on the platform.
But we also found overwhelming number of positive comments about the company which seems to point that the few who have had problems with them are the more vocal people online.
In our view there is absolutely no way this company can be considered a scam, the company is a tightly regulated business with a high revenue turnover, official business premises and high quality website and trading software.
Is IQ Option Safe?
In addition to practices such as maintaining segregated accounts for client funds, IQ Option offers security in several other ways. Unsurprisingly, the broker has full SSL encryption. As such, all communication that traders send to the broker’s servers is encrypted in a way that meets AES 256 Bit encryption standards. That encryption limits the ability of hackers to access information, letting IQ Option supply added protection of both client funds and information.
IQ Option is an impressive platform that provides its users with a great amount of value. The site merges a good level of transparency and functionality and users can be comfortable knowing that the platform is in keeping with the latest financial regulations.
Trading on the site is generally quite a smooth experience and the platform utilizes an intuitive UI that is easy to navigate. The platform and trading application is functional enough for professional traders whilst also being simplistic enough to allow new entrants to painlessly learn the trading process.
IQ Option is a company on the rise and has grown to managing almost 15 million accounts and processing 3 million trades per day. The site also enjoys a trading volume of $11 billion a month and pays out approximately $5.7 million to its users on a monthly basis.
The site does have its drawbacks, and users who require extensive interaction with a customer service agent may be unfulfilled by the two account levels. In order to be in consistent communication with a personalized account manager traders are expected to pay a $3000 fee which may be too restrictive for some. The site is also proving to be popular with traders around the world and despite IQ Option devoting time and energy to developing its customer service, there is the possibility that users may have to wait for more than 24 minutes in order to have their queries processed.
Finally, IQ Option is not available to the residents of countries such as the United States, Canada, and Japan. These nations are home to large numbers of financial literate individuals and the platform would be better off with their presence. However, IQ Option still caters to traders from over 178 countries and provides a comprehensive service to all its users. The platform caters to stock, Forex, and cryptocurrency traders and individuals who sign up can be sure to interact with an intuitive platform that provides access to a wealth of resources, and trading options.
Risk Warning: As always with trading, you should know the risks before hand – these are volatile markets where it is completely possible to lose large sums of money if you do not know what you are doing. Make sure to do your research, learn the platform inside out and never risk more money than you can afford to lose.
IQ Option Review – Trading Experience and Potential Scam Alert
Insights and Platform Review – Is IQ Option a Scam?
IQ Option is a versatile broker known for its low barrier-to-entry, rapid growth and versatile financial instruments. The instruments you can trade with IQ Option include stocks, ETFs, commodities, forex, cryptocurrency and options.
However, it’s limited product catalog and small geographic coverage caused most traders to look elsewhere. To attract more customers, IQ Option has lately expanded its operations and offerings without increasing its fees.
One of the main steps that helped IQ Option was expanding its available products to include CFDs, cryptocurrencies, ETFs, and Forex. By having more instruments available, IQ Option has been able to attract more clients. Another significant benefit is that IQ Option has expanded from less than ten countries in 2020 to now over 178 countries.
While these expanded operations and offerings are attractive to many clients; their primary draw is the low-cost accounts, products, and Forex spreads. For example, while many brokers require a deposit of up to $1000 to open an account, IQ has account deposit fees of just $10.
These changes to the operations and product offerings, as well as their expanded services into more countries, have allowed IQ Option to grow by at least 1000% over the past five years. For example, the number of accounts has grown from 1 million to 14 million; the number of daily trades has grown from 200,000 to 3 million, and the monthly trading volume has grown from $10 million to $11 billion.
IQ Option has now become one of the fastest growing online trading platform where you can trade many different assets from Forex, CFD’s Binary Options to commodities like Gold, Oil, Stocks and cryptocurrencies with great level of transparency and functionality.
IQ Option was founded in 2020 by IQ Option Europe Ltd. It is one of the quickest growing online trading platforms, having over 20 million account holders from all around the globe. IQ Option Europe Ltd. is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) only. The company is completely compliant with the regulation and is fully authorized to offer its service to clients from many countries.
ETFs, Digital Options, Binary Options, Forex, Cryptocurrency, Commodities, Stocks
Sophisticated In House Build Trading Platform
iOS, Android, Windows, and MacOS
Countries Not Accepted:
United States, Japan, Israel, Turkey, Belgium, Russian Federation, Australia, Canada, Germany, Italy, Netherlands, Romania, Spain.
Credit Cards, Debit Cards, Maestro, Skrill, WebMoney, Cash U, Neteller, and Moneybookers
Processed Within 1 Business Day.
What Can You Trade With IQ Option?
The platform allows its users to choose from a variety of alternatives. In the beginning,the platform was only a binary options broker, now it allows trading of Contracts for Difference (CFDs) on stocks, Forex, Exchange Traded Funds (ETFs) and Cryptocurrencies among other digital options.
- CFDs on Stocks -They offer customers CFDs trading on stocks from more than 7480 different companies, some of them being listed on NASDAQ or NYSE.
- ETFs – ETF trading is a relativelynew alternative, which works by tracking commodities, indices, andbaskets of various assets. On IQ, users can choose between around 4200 ETFs.
- Cryptocurrencies – Traders can choose from 12 of the biggest cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoun, Monero, Zcash, Omisego and IOTA.
- Forex – Being one of the most popular trading markets, they offer approximately 190 forex currency trading pairs. This lets traders easily exchange their favorite
- Options – Traders have a large numberof options to choose from. They can speculate on currencies, stocks, indices, and IQ Option currently offers a gateway to over 10 million different binary options.
Signing Up With Iqoptions
The easiest way to sign up with IQ Option is through Facebook, Google, or by using your email address. After you fill in your username and password, you can start using your practice account right away, or fill your real account and start trading. You will be notified when you create both – the practice and the real account.
IQ Options has its own proprietary trading platform and they designed it superbly. Navigating around the platform is straight forward and is overall an enjoying experience. It is very easy to find all the tools and features, everything makes sense. This platform has also many useful charting tools which are a necessity for successful trading.
Deposits On IQ Option
At IQ Option, there is a minimum deposit of 10$. You can select your deposit form and transfer the money without having to pay any deposit fees. For your first deposit, you will have to go through the account verification process. In EU this also means adding your phone number, personal information, your trading experience, and photo identification to their officials.
In different countries, there are different legal requirements. Usually, you need some sort of verification to make withdrawals from this platform.
IQ offers many ways to make deposits or withdrawals. You can use debit cards like Maestro and Visa Electron, or decide to use otherpayment processors like Skrill, WebMoney, Cash U, Moneybookers, andNeteller.
You can also send your payments through Wire Transfer. The minimal withdrawal amount on this platform is $2 and the approximate time to receive your funds is 1 business day. For your wire transfer, additional bank fees may apply.
At the time of writing, it is not possible to transfer funds via PayPal. However, IQ is working to enable this option as well.
Withdrawals On The IQ Option Trading Platform
When talking about funds withdrawal, they are using the same methods you used to deposit your funds. If you deposited funds via credit ordebit card, you have to withdraw it in the same manner. As this transaction counts as a refund, you can only withdraw up to the amount you deposited. Extra profits can be only withdrawn via a bank transfer or by blockchain transaction on your e-wallet.
E-wallet options are the same as used for the deposits on this platform. If you choose to withdraw funds via a bank transfer, you should know there is a fee of $31. Should you make a deposit through an e-wallet, you have to withdraw the funds to the identical e-wallet account.
Your withdrawals will be processed within three business days. When using bank cards and payment providers, the whole process could take some additional time.
To withdraw your funds you have to provide identification documents to the officials that include:
- A photo ID (driver’s license or a passport)
- If you made a deposit via abank card, you have to upload an image of both sides of your card. However, it is advised to hide the middle of your card number and your CCV number. As long as you keep the first six and the last four digits visible, you are good to go.
The IQ Option Trading Features
Trading with the Iqoptions is pretty easy and intuitive. The trading charts are in the center with buy and sell boxes on the right-hand side. Your total trading balance is located at the top along with any assets you are currently trading.
You can use the drop-down on the upper left, to pick your trading instrument. You can choose from Binary Options, Forex, Stocks, Crypto, Commodities, Indices, and ETFs. From each of the instruments, you can find your asset via a search bar.
Trading is possible directly from the online interface. On the right side of the graph, you will see the buy and sell buttons. Just fill out the amount of the asset you want to trade, and confirm your order.
You can also trade on the IQ Option mobile application. The mobile setup is pretty similar to the web interface. On the right side of the cart, you have your buy and sell options. You can also change the investment, leverage, and price and before making a trade. On this section,you will also notice the spread.
On the Iqoptions platform, traders are able to look for their favourite cryptocurrencies and access all of the important relevant information. Besides Bitcoin and Ethereum, you can also trade 10 other cryptocurrencies, including Dash, Ethereum Classic, Ripple, Litecoin, IOTA, and Monero.
There are also obvious links to chats, your trading history, and the customer support service. If you have any issues, you can always start a conversation with the IQ option support team. The resources section is another useful feature, offering all the training and education material you might need. There are many short educational videos on offer, so you can watch the training material without needing to leave your trading account.
The demo account has the same functionalities as the standard one, allowing you to improve your skill and get familiar with their platform, using the $10,000 of virtual money available on the demo trading account. As we said before, even if you lose that virtual money, you can replenish it, so you always have something to practice with.
Technical Research Tools
To be able to trade as efficiently as possible, the IQ Option platform offers many different charting tools. Those are essential for any serious trader as they let you make an informed decision on the market. Based on those tools you can develop your strategy and better understand what’s going on in the market.
The most commonly used charts on the IQ Option platform are candle charts. They show a time period, with colors presenting the amount of volatility and the price movement between the beginning and the end of each period.
Hollow candles are similar, but instead of showing different colors, the positive price movements are full, and negative movements are presented with a hollow candle.
The platform also lets you use area charts that show the price in a line, with shading showing the volatility. Line charts are similarbut without the shaded area.
Bars cover your chosen time period, similar to candle charts. They show the prices at the beginning and end of a certain period, with vertical lines. The horizontal lines are there to show the prices at open and closepositions.
The indicators on the platform are used to discover trends and find trades with good profit potential. They have 13 different indicators you can access throughthe charting interface.
You can use each indicator independently or you can go for a combination of them.
- Moving Averages (MAs) show you the average trading trends in your specified time periods. They are often used with other indicators and include Simple Moving Averages, Weighted Moving Averages, Smooth Simple Moving Averages, and Exponential Moving Averages.
– The Moving Average Convergence Divergence (MACD)indicates where moving averages diverge or converge. It lets you compare the relation between Exponential Moving Averages.
– The Parabolic SAR is similarto moving averages. The main difference is its position that is changing with the price and corresponds to higher acceleration. You can observe it in groups or dots.
– The Awesome Oscillator shows a visualization of two SMAs. One isfast and the other slow. This indicator helps you observe trend development.
– Bollinger Bands are basically trend indicators that present a dynamic range of the price movement.
– Volume Indicators indicate the amount of the traded asset during a given period of time, showing the intensity of the trading action on the market.
– The Alligator Indicator lets you asses market movements. It shows you the movement direction and lets you filter out the Side Bands. This is a cross-functionaltrend that allows you to discover an emerging trend.
– The Relative Strength Index (RSI) shows the strengthof the current trend and possible reversal points. It compares the price growth with the overall price reduction. It is shown by a curve.
– The Stoch or Stochastic Oscillator indicators let you know the current price position, comparing it to the extreme highs and lows in a certain time frame. It is shown as the percentage, lettingyou figure out any potential reversal points.
– The Average True Range (ATR) indicates the volatilityof the asset over a certain time period. It also shows the change rate of quotes.
– The Average Directional Movement Index (ADX) presents a trend’s strengthprior to the price movement. It can also show a potential change in volatility.
– A fractal includes at least five Japanesecandlesticks, indicating the local maxima and minima of price curves and possible market reversal points.
– Commodity Channel Index (CCI) shows you the speed of the price movements. It helps you discover the upcoming market reversals and is helpful when assessingthe strength of a trend.
Extra Features on IQ Option Platform
On this platform, you can choose from many additional features. The company is really focusing on improving the user experience and with all the incorporated features, they manage to offer a comfortable trading process.
Mobile Trading Features and App
The Iqoptions platform offers a mobile app, so you can trade on your phone as long as you have internet access. The app is clean, with an intuitive graphical interface. It also includes most of the indicators and charting tools, available on the standard platform. You can also enable push notifications. To be always up to date with the trading action. You can also set the alerts on specific price points, which will send you an instant notification once your designated point is reached. The IQ trading app works on tablets and smartphones, accessible both for Android and Apple iOS.
Organised Trading Competition
Should you reside outside the EU, you can be a part of various trading competitions organised by IQ Option. The Binary Option tournaments are a good way to test your skills and try to earn some extra money via competition prizes. The trading competitions usually last for around 30 minutes. In the beginning,you get $10,000 in virtual funds, and the trader with the most money at the end wins a prize.
The prize is either fixed or relative to the number of tournament participants. The winner receives up to 100x the entry fee. If you lose all of your tournament funds, you can always go and participate in other tournaments. The competition allows users to test their skills, and try out new trading methods.
IQ Option Education and Training
The platform also offers a lot of information to its users, and the platform has many educational materials for both beginners and experienced traders. This includes many educational trading videos, webinars, trading strategies and tutorials. IQ also offers access to many e-books, and their FAQ section is detailed in covering most of the relevant questions.
The IQ Option Affiliate Program
The Iqoptions platform offers an affiliate program. If you want to earn some extra money, you can bring in new people and receive a reward when they trade on the platform. You only need to share your affiliate link, and anyone who clicks and creates an accountwill be associatedwith your user ID. Depending on the trading of the user, you can receive up to 70 percent of the broker’sprofit. This is an interesting passive income opportunity. The affiliate earnings are paid twice per month.
You can’t have a negative affiliate balance with IQ Option. There is cross-platformsupport, and you have mobile and web versions of the affiliate program. They also provide you with analytics, so you can track your affiliate income.
Hodly Wallet – What Is it and How You Can Use It?
Not long ago, IQ Options presented a new product for people who want to invest and own Cryptocurrency. The HodlyWalletis a Cryptocurrency wallet that allows buying and storing of Ripple, Ethereum Classic, Bitcoin Gold, ZEC, OmiseGO, NEO, Ontology, Lumen, andTron.
You can connect your e-wallet with your bank account. It is a good lookingapp, accessible by web and mobile. It lets you buy, store or sell your cryptocurrency for any supported fiat currency.
IQ Option lets users contact the support team by email, contact form or their chat. They claim to respond to every querywithin a minutewhile aiming to resolve any pending issues in 24 minutes on average. There are more than 80 customer service employees on the team. If you require more personalised customer service, you can upgrade to a VIP account, and you will receive your own personal manager.
The platform has an international focus and wants to service traders from all around the globe. You can trade in many different currencies, like USD, GBP, EUR, Yuan, RUB, TRY, IDR, and MYR. The customer support is availablein English,French, Italian, Spanish, Portuguese, Chinese, Korean, Arabic, German, Turkish, Thai, Hindi, Urdu, Norwegian.
Due to various restrictions, the Iqoptions platform doesn’t offer its services to people from the United States of America, Australia, Canada, Belgium, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea or Russian Federation.
IQ Option also abides the standardrules for identification and traders should know, that when they register on the platform, they are required to provide their personal information, verify their email address and telephone number. If you are unable to do so, you won’t be able to complete your registration.
They will additionally expect to receive more of your personal information after you fund your account. You will have to provide copies ofidentification documents like a Passport, or National ID Card, and Proof of Address in the form of a Utility Bill or a Bank Statement (for EU residents).
IQ Options Awards Overview
Throughout the years, IQ has gathered a broad rundown of honors, every one of which highlights their qualities. The Academy of Interactive and Visual Arts gave IQ Option the 2020 Award of Excellence, which is the most noteworthy award from the Communicator Awards. IQ Option was perceived by the council as the best exchanging application in their Financial class.
In 2020, they earned the Rising Star grant for “The intelligent trading application for binary options” from the Mobile Star Awards, the biggest global yearly honors program for versatile programming and developments. The association adulated them for its design and proficiency.
The Web Marketing Association presented IQ with the Best Technology Application in 2020 for the organization’s mobile version of the platform.
IQoption have additionally earned the Century International Quality Gold ERA Award from the Business Initiative Directions Group as an acknowledgmentfor the organization’s focus on Excellence and Quality, particularly inside Customer Satisfaction.
Returning somewhat further to 2020, IQ Option got the title of Best Binary Options Broker Europe 2020 from the Global Banking and Finance Review. IQoption additionally earned the title of Most Innovative Binary OptionPlatform from the IFM Awards in 2020, just as the Best Mobile Trading Platform in similar honors.
Global Brands Magazine, a legitimate brand observer in Britain, gave them the title of Fastest Growing Binary OptionBrand. In the Forex Awards 2020, the platform was named the Best Trading Platform, while in 2020, the MasterForex-V granted IQ Options as the World’s Leading Binary Options Broker and the Most Reliable Binary Options Broker.
The FX Report Awards named them the Best Binary Options Broker in 2020. In 2020, that year IQ Option was established, the organization earned the title of Most Innovative Binary OptionBroker from Moscow’s ShowFx World gathering. At the IAIR Awards, IQ Option earned different honors, including the Best Binary Options Broker and the Best Binary Options Broker/Trading Application.
IQ Option Jurisdictions, Languages, and Countries
IQ Option has customers from 151 unique nations. Their website is presently accessible in 13 languages, permitting traders from around the globe to exchange a language they are comfortable with. Additionally, the platform gives traders a chance to choose from one of the accompanying currencies to deposit and trade with: GBP, EUR, USD, Yuan, MYR, IDR, and RUB.
IQ Option is owned and operated by an organization inside the European Union. Therefore, it has a permit from CySec, the Cyprus Securities and Exchange Commission. To get that permit, IQ Option met and should keep on the meeting, prerequisites identified with advertising limitations, customer assets, and exchanging items. The enlistment in Cyprus as a money-related administrations supplier has number 247/14, enabling IQ Options to take on European customers, who get full CySec protection.
Due to CySec guidelines, all customer finances must be stored in isolated accounts that they can’t access for its very own financier business. CySec controllers additionally offer another dimension of store protection, which protects all investments made with the platform should something happen to the broker.
IQ Option USA
Sadly, IQ Option isn’t accessible to traders in the United States. Iq Option is accessible in 178 nations around the globe, however,the United States has stricter limitations and guidelines, which means American users can’t utilize the broker. More nations from where you can’t access the platform include Canada, Russia, Australia, France, Japan, Belgium, Turkey, Israel, Iran, Syria, and Sudan.
Is IQ Option a Scam?
While looking at the platform we went through some that claimed IQ Options is a scam. One of the reasoning behind the claims was the fact that they disabled somebody’s account meaning they couldn’t withdraw their balance, and there were quite a few unsatisfied people who lost their money trading on the platform.
When we put the complaints in the perspective, they were vastly outnumbered by the positive reviews and opinions, meaning that only a small minority had some sort of a problem with the service.
IQ Option is a highly regulated broker and one of the most trusted companies in the industry. Their highly sophisticated trading platform is among the best in the industry and we highly recommend IQ Option to traders of all experience levels; beginner to advanced.
Is IQ Option Safe?
Besides some good practices, for example, keeping up isolated accounts for customer funds, IQ Option offers security in a few different ways. Obviously, the platform has full SSL encryption. All things considered, all the information that traders send to the merchant’s servers is encryptedto meet AES 256 Bit encryption measures. That encryption restricts the capacity of hackers to get to the sensitivedata, giving IQ Option a chance to assure additional protection to both customer assets and data.
IQ Option Final Verdict
In a nutshell, IQ Option is a great solution for beginner as well as advanced traders who are looking to trade a variety of different financial instruments and assets such as forex, stocks, ETF’s, binary options, cryptocurrencies, and other commodities on a highly sophisticated and yet easy to use platform.
From a traders perspective we found this trading platform one of the biggest pro factors, because it not only offers a high variety of trading tools and analytics packages but also a personalised and easy to use trading dashboard.
The customer support is not beyond, but still among the best and the most accurate. Our questions were all answered on time without any leak of professionally and our queries were settled in a reasonable time span. We also need to take into consideration, that IQ has recently had a huge amount of new customers signing up with them what was causing dome delays is account verification and depositing.
What we did not like that much is their two-level customer service system. To have consistent access to your personal account manager, you have to have a VIP account which requires a deposit of $3,000 or more, which is over the budget for most people.
At last, IQ Option isn’t accessible to the residents of nations, for example, the United States, Canada, and Japan. However, they still accept users from more than 176 nations and gives complete support for every one of its clients. They support the Stock, Forex, and Cryptocurrency trading.
Their users can be sure to interact with an intuitive platform that gives access to an abundance of assets and exchanging alternatives.
IQ Option User Reviews and Trading Experience
We want to hear your personal story and trading experience with this broker. If you want to share your thoughts and your personal trading experience with the wider trading world than feel free to post your comment below.
Please make sure your comments are non promotional and don’t include any inappropriate links or other promotional materials. Comments with abusive, vulgar, offensive, or harassing language, and comments which can be understand as a personal attacks of any kind will be deleted as well.
“CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.”
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All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
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