IQ Option is a well known online trading platform that allows you to trade binary options, stocks, FX, ETFs, commodities, and cryptocurrency.
This broker was established in 2013 and is run by IQ Option LTD. With over 47,000,000 registered users and over 1,000,000 transactions every day, IQ Option has become one of the most popular trading platforms for traders all over the world.
IQ Option accepts traders from over 213 countries, including India, South Africa, Nigeria, Malaysia, the Philippines, Pakistan, and Singapore.
IQ Option is headquartered in Cyprus and is governed by the CySEC (Cyprus Securities and Exchange Commission).
Summary
| Trading Platform | IQ Option |
|---|---|
| Established | 2013 |
| Regulated | CySEC |
| Trading Platforms | Web and mobile |
| Assets | Cryptocurrencies, stocks, forex, commodities, ETFs |
| Website | Click here |
Regulation And Security
Throughout the years that this binary options broker has been in business, it has received several awards complimenting its quality of service and dependability for consumers.
Many millions of traders worldwide regard IQ Option as one of the greatest brokers in the market.
IQ Option is a CySec-regulated firm registered in Cyprus under the name “IQ Option Europe LTD.”
This implies that they can serve customers within the EEA. Outside of the European Economic Area, traders’ trading accounts get administered by a sister firm called “IQOPTION LTD.”
This entity is not regulated and is registered in St. Vincent & Grenadines.
To sum up, IQ Option is safe. With over 40,000,000 registered members, this firm is one of the largest and most successful binary options brokers in the market.
CySEC (Cyprus Securities and Exchange Commission) and the FSA (Financial Services Authority) (Seychelles Financial Services Authority) regulates and license them.
And also, they keep customer monies in separate bank accounts to increase security.
IQ Option is also a member of the Investors Compensation Scheme, which covers customer funds up to a maximum of $20,000 per transaction.
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Features
- It will provide you with setup customization alerts.
- You will get push notifications.
- You can choose the standard or VIP account type.
Account Types Available
Unlike other CFD and binary brokers, IQ Option only offers three types of trading accounts: ordinary trading accounts, VIP accounts, and demo accounts.
You require a minimum deposit of $10 to start a basic account. To open a VIP trading account, you must make a minimum deposit of $1900 (or currency equivalent) and achieve a trading volume of $15000.
Both trading accounts permit the trader to participate in the weekly trading competitions hosted by IQ Option.
The VIP account, on the other hand, entitles the account user to additional trading perks such as free participation in trading promotions, 3% higher returns, and the assistance of a personal manager.
Potential traders who want to test out the platform by first registering for a demo account.
It is offered free of charge and does not necessitate any “pre-deposit,” as some brokers urge their consumers to do beforehand.
The demo account comes with $1000 in practice money that you may use to perform practice transactions.
Trading Platform
Rather than using a standard trading platform, IQ Option has decided to give its clients a proprietary platform tailored precisely to their trading requirements.
You can trade CFDs and binary options on the same platform. The site is well-designed to be user-friendly, and it has a huge chart, which is a great aid for traders who want to watch market circumstances.
Margin trading is now accessible for several instruments. Furthermore, the platform has many trading features that you will not generally see on any binary competent trading platform.
Very Popular technical indicators such as moving averages, MACD, Bollinger Bands, and RSI are examples of sophisticated trading tools.
The brand frequently adds new features to the platform to provide traders with greater freedom. The ‘position top-up’ is one such feature.
This enables a trader to keep a deal open if it nears a stop loss. It provides the trader with more leeway in allowing deals to recover before closing them.
Suitability For Day Trading
Looking at the types of instruments available for trading is one of the most significant elements to consider when looking for a broker to conduct day trading with.
Because IQ Option provides CFDs, which allow traders to open and liquidate market positions at any time, it is a good broker for day trading.
Furthermore, the broker is well-regulated, which helps to guarantee that your money gets handled correctly and honestly.
Leveraged Cryptocurrency Trading
The leveraged deals in cryptocurrency are known as cryptocurrency multiples.
The underlying price remains constant and is the most critical aspect of the trade’s profit/loss.
The multiplier increases the possible profit/loss on every transaction. Previously, they provided a single multiplier called Bitcoin X 100, which boosted the Bitcoin price by 100 times.
Because of the popularity of this function, IQ expanded the range of multipliers accessible – to other cryptocurrencies such as Ethereum (ETH), TRON, Iota, and Ripple, as well as by other amounts (X 20, X 50, and X 100) on Bitcoin.
This tool is handy if you have a high risk/reward ratio. They also have the Open Trade Network (OTN) — their own blockchain-based cryptocurrency exchange based on the Ethereum blockchain platform – in addition to the function of the multiplier.
OTN has been in operation since 2018 and provides users with a personal cryptocurrency wallet and specialized OTN currencies.
OTN is a trustworthy and regulated blockchain innovation that has shown to be a good investment for both IQ and its users. they give traders OTN tokens as a reward for using them.
They can sue OTN tokens to trade in the market. This has benefited iqoption and prompted a change in the brokerage business.
What differentiates it from others?
There are some points which make it different from all others.
- You can execute the trade.
- It will give you updates about market development.
- You can use charting Tools.
Our experience with the product
It is one of the best platforms for me. I have been using get for a certain time, and it has helped me gain knowledge about market development.
It has also helped me invest in the most useful places, which have helped me earn a lot of profit.
It is a good platform for people who want to trade without complication. One issue I faced was that the took a long time for verification.
IQ Option Review Comparison
Let’s compare it with some of the other companies.
IQ Option Review vs. Slice Capital
Slice capital is the fastest-growing company which will let anyone be a part of it. You can start with a little investment and can gain profits from it.
However, it is considered an IQ option. It is one of the most reliable companies with the best reputation.
It is recommended for people who are from advanced levels and beginners.
IQ Option Review vs. Alinea
Alinea is an advanced mobile investing app. It will allow you to select an investment platform of your own choice.
You can start investing in the companies you have to believe in and trust with all your guts.
On the other hand, the IQ option is also one of the most trustable companies that are best for making investments and gaining profits.
IQ Option Review vs. M1 Finance
M1 Finance is one of the most effective investment tools. It will take your money into investing companies intelligently on its own.
This way, you do not have to look for appropriate places for investment. If you start investing in the IQ option, it will also benefit you.
Customer Service
The Customer service at IQ Option is available by email, phone, and also online chat.
Currently, there are around 90 customer service representatives accessible to assist you.
Toll-free phone lines are provided in the following countries for your convenience: the United Kingdom, Brazil, South Africa, India, Singapore, Thailand, Colombia, Australia, Mexico, Portugal, Spain, Argentina, and Chile.
The average wait time for online chat assistance is an outstanding 38 seconds. And also, the average response time for email assistance is 14 minutes.
Conclusion
IQ Option provides a modern and user-friendly UI and good Android and iOS (iPhone) apps.
Opening an account is simple and also you can do it entirely online. Their customer service is typically quick, and their spreads are competitive and on pace with comparable platforms.
On the other hand, IQ Option allows you to trade simply using derivatives (CFDs and options).
I’d want the online platform to be a little speedier as well. The primary drawback is that they typically do not have as many assets to trade with their competitors.
You should have a decent idea of whether IQ Choice is a good option for you by now, but if you still have questions or reservations about this platform, be sure to do further research.
FAQ
What is the minimum deposit amount in IQ Option?
At IQ Option, the minimum deposit is $10, €10, or £10.
How fast is the withdrawal process as IQ
Withdrawal requests at IQ typically take one working day. Depending on the withdrawal method selected, it will take 2 or 3 business days for the monies to get credited to the account.