IQ Option is one of the leading online trading platforms. It allows you to trade a wide variety of popular financial instruments like binary options, stocks, forex, ETFs, commodities, and cryptocurrency. It is operated by IQ Options LTD and was founded recently in 2013, making it one of the youngest platforms in its category. Despite this, it is considered to be one of the most popular and fastest-growing trading platforms. It boasts of over 48 million registered users and over one million transactions per day.
IQ Option is also based in Cyprus and regulated in the EU by the Cyprus Securities and Exchange Commission (CySec). It welcomes traders from over 213 countries excluding users from the United States, Japan, Israel, Turkey, Belgium, Russian Federation, Australia, Canada, Germany, Italy, Netherlands, Romania, and Spain.
What does IQ Option offer?
IQ Option is a fully-featured trading platform that provides its users with a wide gamut of options to trade on. After starting as a binary options broker, the platform offers Contracts for Difference (CFDs) on stocks, cryptocurrencies, Exchange Traded Funds (ETFs), forex, and a range of various digital options to invest.
Here is a quick list of assets that IQ Option offers:
- CFD –CFDs on stocks from over 176 different companies listed on the NASDAQ and NYSE
- ETFs – Even though it’s a relatively new product, customers can choose from approximately 4288 different ETFs
- Forex – One of the most traded and popular trading assets. IQ Option provides access to around 188 popular currency trading pairs
- Options – This allows users to speculate on the price of assets like currencies, stocks, indices, and commodities etc. IQ Option has access to over 10 million options
- Cryptocurrencies –12 top cryptocurrencies which include Bitcoin, Ethereum, Litecoin, Ripple, Monero, Zcash, Omisego, IOTA, and Dash
Traders are offered two different types of account to sign up with IQ Option. These are
Standard: Starts with a minimum deposit of $10. It offers access to more than 350 assess to trade on. 24 hours of withdrawal processing is also available with the basic account. Customers outside the EU get access to different trading competitions that are held regularly on the platform
VIP: It is available to traders with a deposit of $1900 or more within a 2-day period. This account comes with a host of benefits like a personal account manager, monthly reports, and an additional 3% in returns. Unfortunately, VIP accounts are only available to traders who are located outside of the EEA
For many traders, a demo trading account is an absolute necessity. This not only lets them understand how the platform work but they also get to experience various customization options and different reports. IQ Option also offers a demo account for starters. Unlike other platforms, the demo account here does not come with any time limit. Users can use and get accustomed to the platform for as long as they want, test new features and new trading strategies.
This demo account comes with $10,000 of virtual funds. You can reset the account to get more virtual funds in case you end up using them all. The web platform offers all popular technical indicators such as moving averages, Bollinger Bands, MACD and RSI. New features are added to the platform every now and then. Very recently it added a feature called ‘position top-up’ that allows a trader to keep the trade open, in case it’s approaching stop loss. Overall the web platform is well designed and offers quite a few details at a single glance.
Regulation & Reputation
Over the few short years that it has been operational, IQ Option has won numerous awards praising the quality of its services and its reliability. Today, it has been recognised as one of the leading brokers in the industry as well. To bolster its image as a reliable broker, traders will be pleased to know that IQOption is a regulated broker under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC) under the name of holding company IQ Option Europe.
As a regulated broker under CySEC, this means that IQ Option is also a MiFID compliant broker. In other words, IQOption is permitted to offer its services to clients within the EEA. Another benefit for clients of being regulated by CySEC is the fact that IQOption is also a member of the Investors Compensation Scheme. Under this scheme, each of IQ Option’s clients’ funds is protected up to a maximum amount of 20,000 euros. But for traders that are outside the EEA, their accounts are managed by a separate sister company called IQ Option Ltd. The company is based in Mahe, Seychelles and is regulated by the Seychelles Financial Services Authority (FSA).
Rather than opting for a standard trading platform, IQ Option has chosen to provide its clients with a proprietary platform designed specifically to cater to their trading needs. The same platform is used for CFDs and for binary options trading. Well designed to be user-friendly, the platform features a large chart which is a great help for traders who wish to monitor the conditions in the markets.
In addition, the platform comes with a wide selection of trading tools that are typically not found on any binary capable trading platform. Some of the advanced trading tools that we can see popular technical indicators such as Moving averages, Bollinger Bands, MACD and RSI.
The brand often add new feature to the platform to offers traders more flexibility. One such feature is the ‘position top-up’. This allows a trader to hold a trade open if it is approaching a stop loss. It gives the trader more scope to allow trades to recover before being closed. It must be used with discipline, but offers traders new risk management or trading strategy options.
Apart from having a refreshing user interface, the trading platform allows traders to change the view of their chart from a choice of four different layouts:
The timescale for the bar and candlestick charts can be chosen from an impressive 18 different intervals – and multiple graphs can be used, in order to confirm trends over more than one time frame.
In addition, there are also various other tools such as a line drawing tool which traders can use to plot their own trends on the live charts. The latest updates also added a wealth of technical analysis features too. Multiple indicators such as Bollinger bands, moving averages or relative strength index (RSI) can be laid over the chart. Nearly 20 different indicators are available. The charting enables active traders to use price action patterns to spot opportunities across different time frames, making correct prediction more likely.
Perhaps one of the most useful features about the trading platform is the ability for traders to make multiple trades on the same graph. This is especially useful when you want to employ more sophisticated trading strategies or trade signals. Turbo and Martingale strategies are easier to implement when you can monitor open positions on the same chart. Trade size ranges from just $1, up to a maximum investment of $10,000 on the classic options.
The IQ Option mobile trading app follows the development of the bespoke trading platform, and delivers a seamless mobile user experience. The trading area looks the sam, and the screen, buttons and ‘look and feel’ match those of the full website, or desktop download.
The mobile application has been delivered as a tailored product for each operating system, so the IQ Option Android app, has been developed solely for android devices. Likewise, the iOS app has been written with the iPhone or iPad in mind, and ensures it gets the most out of those devices. It is the sort of attention to detail that IQ are becoming known for.
Apple’s recent changes regarding binary related applications have been swiftly dealt with by IQ Option. They have redeveloped the iOS version to adhere to the new rules. Their ability to adapt to the changing investing landscape is reassuring. The new version includes forex and CFD trading – and cryptocurrency trades will also be available once released.
Trade Types and Payouts
- Binary Options
Binary options is a financial instrument that pays a fixed return for a correct market prediction on the price of an asset within a predetermined time-frame, or expiry time. Correctly predicting an asset’s price movement (up or down) can result in a profit of up to 95%. Trading binary options on IQ Option has a $1 minimum investment, $0 brokerage fees, and expiry times ranging from 60 seconds until the end of the month.
- Digital Options (CFDs)
Digital Options is a financial instrument that allows you to speculate on the extent of the price movement of an asset. Payouts for digital options can go as high as 900% if the asset reaches the threshold specified by the trader. The minimum investment for digital options is $1 and the expiry times range from 60 seconds to 15 minutes.
The minimum deposit for opening a real account with IQ Option is $10 USD/GBP/EUR. This broker does not charge any processing fees for depositing funds. In order to make your first deposit, you will have to go through an account verification process which might require photo identification. Some countries will have different requirements than others. For your convenience, IQ Option offers many different ways to deposit money into your account including credit cards (Visa and Mastercard) and wire transfers. This broker also accepts many different E-wallets including Skrill, Maestro, WebMoney, Neteller, Cash U, and Moneybookers. IQ does not accept Paypal as a payment method.
The minimum withdrawal amount for IQ Option is $2. In order to make a withdrawal request, you will need to use the same payment method as your deposit because the transaction is processed as a refund. Afterwards, you can choose whichever payment method you want for withdrawals. Bank transfers may incur a small processing fee. In order to withdrawal funds from IQOption, you’ll need to verify your identity. This verification process can take up to 3 days and is necessary to prevent fraudulent activity and to secure your account from unauthorized use. All withdrawal requests are processed by IQ Option within 1 business day. If you request a withdraw to a bank card, it may require additional time depending on your bank.