IQ Option Review 2020
IQ Option is one of the most popular and leading online forex trading platforms available in the market currently. It allows the user to trade on a wide variety of financial trading instruments like stocks, binary options, digital Options, ETFs, forex, commodities, and cryptocurrencies. This broker is operated by IQ Option Europe LTD which is a financial services provider and was established in the year 2013, by making it one of the leading platforms in the trading category. It is considered as the fastest-growing and popular platform presently. It has more than 48 million registered users and executes more than 1 million transactions a day.
What is IQ Option?
It is considered as the leading online site for trading, which enables the users to trade various assets and trading instruments like stocks, FX options, cryptocurrencies, digital options, and several others. IQ Option was founded in the year 2013, and the website has become one of the leading and developing online platforms that are used by the traders, and it reports that it has several million registered users around the world.
IQ Option is based in Cyprus, and it is a financial services provider, which is regulated by CySEC (the Cyprus Securities and exchange commission) in the European Union. Its traders are from 213 countries, which exclude traders from Japan, Israel, the United States, Russian Federation, Belgium, Turkey, Germany, Australia, Canada, Netherlands, Romania, Italy, and Spain.
Let us see a few Pros and Cons –
It offers an excellent user interface.
|MT4 Integration is not available|
|The trader can open an account with a minimum deposit 10$ amount.|
Does not support major countries
It is regulated by CySEC
Customer Service needs to be improved
|It provides secured account verification|
Easy and Quick withdrawal request
|It offers free Demo account|
|Offers extensive asset categories|
Features of IQ Option
Some of the features are discussed below –
~ IQ Option provides a very efficient user interface, and it is available in web-based and downloadable formats. However, the downloadable version of the forex trading software is the same replica of the web-based trading platform, which has the same features and its limitations.
~ When compared to its trading competitors, it does not offer mainstream trading platforms like MT4. They offer an in-house developed platform which is working fine mechanics-wise, even though a little improvement in the charting or analysis alternatives that are needed.
~ Even though it has few features that are focused on actual closing and opening positions, It provides a summary of the trader’s open positions, and it also offers a trading history section. Also, there are blogs and chat sections that are featured, which shows the social side of the brokerage.
~ Through its trading interface, IQ Option Europe users can access any number of video tutorials, which gives details on several analysis methods and offers tips on functionalities of the site, where the user can get acquainted with.
~ IQ Option trading site is very simple and easy. The charts offered by this broker are visually good, and the trader can trade directly from the charts. Moreover, different time frames can be applied, and at a time, nine charts can be viewed.
~ Besides, as a user, one should keep in mind that several classic technical analysis techniques will not work in the cryptocurrency sector, as this domain has a way of its own regarding the prices.
~ As per our evaluation, the charting tool section allows the traders to select from line charts, area charts, candle charts, bar charts, and several others. These are used for spotting various chart patterns. Moreover, it offers several numbers of graphical tools, which include Fibonacci lines, horizontal lines, simple lines, and trend lines.
~ IQ Option mobile app for mobile trading offers the same features of the web-based version and allows the trader to trade easily. It exhibits the chart on the homepage, and it can adjust several parameters like leverage, price, and investment. The traders can also easily search for their preferred cryptocurrency and analyze the latest and relevant details about them.
~ IQ Option Europe may not offer the most advanced charting and analysis tools; it provides its traders a very simple and functional way to go about their trades and to interact with the network. Moreover, it also offers a demo account for its traders, and it offers dedicated customer support.
~ As per our review IQ Option, one of the major disadvantages of this trading platform is, it is not available for the traders in the United States. This broker is available in several countries across the world, yet it cannot be used in the United States because of stricter regulations and restrictions. Other countries where the IQ Option cannot be used include Russia, Australia, Canada, Japan, France, Turkey, Belgium, Iran, Israel, Sudan, and Syria.
Get list of Advantages of IQ Option
Some of the advantages are discussed below –
~ As per our evaluation, this site offers profits up to 95% on trading in binary options and up to 900% when the trader goes for digital options.
~ The trading platform can be described as intuitive, which is available for Windows, iOS, Mac, and Android.
~ By using this brokerage, the traders can minimize losses and maximize profits by using risk management features that are available on this site, by which the chance to lose money became very low.
~ The company offers its users various order types and stop-loss tools by helping the traders to minimize losses and to maximize profits.
~ IQ Option offers more than 250+ assets for the traders, which includes cryptocurrencies, ETFs, binary options, trading CFDs, digital options, stocks, and Fx options.
~ One of the most advantageous features is, it offers a free demo account with $10000 in virtual cash for the users to practice.
Is IQ Option trading platform Safe?
The company is a regulated broker by CySEC, that has a license to offer investment products in the EU. This binary option trading bot is based in Cyprus and has a license from the Cyprus securities and exchange commission (CySEC), which is standard with most of the trading systems that are available in the market. Moreover, it is completely SSL encrypted, which offers support IQ option, which implies that all the trader communication sent is encrypted by using a 256-bit encryption standard.
Various Accounts Type of IQ Option
IQ Option provides its users with two different types of accounts to sign up. These are –
~ Real Account: IQ Option offer a real account to its traders. The users can gain access to this account by adding a min deposit of $10, and it offers no limitations on trading functionalities. The account offers access to more than 70 assets, which includes assets like binary options, Forex, and several alternatives, and the traders can request the broker for making withdrawals, which will be handled within 24 hours. Moreover, these account holders can participate in several trading competitions that are conducted by this broker for the customers outside the EU. Also, it offers access to over 350 assets to trade. The customers outside the EU can access different competitions, which are held regularly.
~ VIP Account: VIP account is available to the users with the deposit of $1900 or more, within a 2day period. VIP account comes with several benefits like a personal account manager, an additional 3% in the returns, and monthly reports for the trader. One should take note that VIP accounts are available only to the users who are located outside the EU. By adding the real account features, the VIP account offered by this broker provides a monthly report on user’s trading records, that are performed by platform analysts and it also gives its customers feedback about their trading performance.
List of Technical Indicators
As per our evaluation, IQ Option provides more than 15 different technical indicators to help the users to recognize trends and to identify profitable trades. The 15 technical indicators are Moving averages, Volume, MA, Alligator, RSI, Bollinger Bands, MACD, Parabolic SAR, Awesome Oscillator, Stochastic Oscillator, ADS, ATR, CCI, Fractal, Ichimoku Cloud, Belkhayate Timing, DPO, and KDJ.
Deposits Details of IQ Option
Concerning deposits, IQ Option website needs 10 EUR/USD/GBP as a min deposit. Besides, the users can select any form of a deposit of their choice. Apparently, this broker does not charge any fees for depositing funds from the trader. For making the first deposit, the trader should undergo an IQ Option demo account verification process. It involves adding personal information, phone number, trading experience, email address, and also uploading the photo identification. Besides, some of the nations might require different requirements; and they will check the verification process if the trader is planning to make withdrawals from the website.
It also offers a possibility to process the payments through wire transfer. Currently, the minimum withdrawal amount is $2, and the time estimated to withdraw funds is one business day. Further, the trader’s bank might charge fees for the withdrawal process. IQ Option allows its users several methods to make withdrawals and deposits through their trading account currently. The users can use debit card services like Maestro and Visa electron or credit cards such as visa and MasterCard. The users can also use different payment processors such as WebMoney, Neteller, CashU, and Moneybookers.
Withdrawals at IQ Option
When the trader tries to withdraw their funds from their trading account, the withdrawal method is based upon the method used for deposit earlier by the trader. In case of deposits through debit or credit cards, the trader must deposit the minimum initial deposit amount the same way. Irrespective of the withdrawal method, it would process the request within three business days. Moreover, payment providers and bank cards will require extra processing time.
Concerning the e-wallet withdrawals, the available choices are the same as for deposits, which include Neteller, WebMoney, and Skrill. As a choice, the trader can withdraw their profits also through a bank transfer. The trader should be aware that bank transfer comes with a fee of 31 dollars. If the deposits are made through e-wallet, the trader should withdraw their funds to their same e-wallet account.
Is the IQ Option platform Trustworthy?
As per our evaluation, we can say that the broker is legit and not a scam. IQ Options Europe Ltd is regulated in the European Union by the CySEC (the Cyprus Securities and exchange commission). There are testimonials and good remarks about this broker and how the traders have received more profits by trading strategy.
There are also more positive comments on the website and its various features offered in their official websites like educational resources, affiliate programs, tutorials, and several others to help the users online. This Platform is considered to be a regulated broker and has a high turnover in revenue. It also offers a world-class website and excellent trading software.
~ Charting Tools: To help the traders to get the most profitable traders, IQ Option provides a long list of charting trading tools that offers insight and helps the users to optimize their trading strategy. some of the charts are given below –
- Bar charts
~ Order Types: As per our evaluation, IQ Option offers its users various order types and stop loss tools by helping the users to minimize losses and to maximize profits on binary trades. Some of them are specified below –
Stop Loss Orders
Take Profit Orders
List of assets offered by IQ Option
Below given is the list of assets that are offered –
IQ Option offers trading CFDs on stocks in more than 176 different organizations that are listed on Nasdaq and NYSE.
Even though ETFs are a relatively new offering, users can choose from more than 4288 different ETFs.
It offers forex, which is the most popular and traded asset. Also, it offers access to more than 188 most popular currency pairs.
It offers choices that allow the traders to speculate on the price of some of the assets like stocks, currencies, Binary options, commodities, indices, FX options, etc. IQ Option has access to more than 10 million choices.
It offers 12 leading cryptocurrencies such as Bitcoin, Litecoin, Ethereum, ripple, Z cash, Monero, IOTA, Dash Omisego, and several others.
Additional Feature Which Makes IQ Option So Popular
~ Trading Instruments: Presently, Forex, crypto currency pairs, and stocks are offered as Contracts for Difference(CFDs) CFDs are explained as derivative instruments that will pay the trader, which is based on the difference in the price at the beginning of the day and end of the day. These are described as leveraged instruments, which means the trader can take a larger position on a trade then that is available. This could increase the returns provided the trader properly manages the risk. In terms of leverage, it offers several CFDs, and it differs based on the asset class.
~ Payouts: Considering the return on Investments, the standard payouts are offered at very competitive rates. Besides, the traders can earn up to 91% payout if there is a successful execution of the trade. These payouts will vary, and it is based on the asset and the expiry time chosen. The payout is 91%, and it is the best offered in the trading industry.
~ Cryptocurrency Multipliers: Additionally, traders can trade crypto assets by using Forex, CFDs, or classic options. This platform has introduced a new concept called cryptocurrency multipliers, where these trades can be effectively leveraged as a trade. However, the price remains the key element, yet with the multiplier, the trade is magnified. The main advantage with this is, it increases the potential profit or losses that are made on any trade.
~ Open Trade Network Tokens: IQ Option offers blockchain-based cryptocurrency foreign exchange which is called an open trade network(OTN). This network is created on the Ethereum blockchain platform. Cryptocurrency traders on the trading platforms have a choice to earn OTN tokens when they are trading. These tokens of the open trading network are given to the traders weekly.
Besides, the open trading network is the first platform that offers cross-chain technology that unites all the blockchains and allows a large decentralized crypto exchange. This makes it easier for users to exchange various tokens on the platform.
~ Payment Methods: As per our evaluation, it offers several numbers of payment alternatives for the traders for their benefit. They accept cards like MasterCard and visa. Also, they accept funds through several online wallets such as Skrill, WebMoney, CashU, and Neteller. For the traders who prefer to fund their trading account through wire option, can be carried out. Further, it will take a longer time than depositing through the card, yet the fees will be lower for huge amounts.
~ Signup: For getting started, the trader can sign up through Google, Facebook, or simply they can create an IQ Option demo account by using an email address, after providing the details and creating a password, the trader can proceed. When this process is completed, they can instantly use their practice account or add real funds to their trading account and proceed with live trading. Further, a popup will notify the trader that the demo account and the real account has been created.
~ Demo Account: As per our evaluation, one of the greatest advantages is it offers a free demo account. When compared to other exchanges and brokers, it offers its traders $10000 as demo trading account funds, which can be used to test the trading platform.
The traders can trade on the remote platform as long as they like and practice different order types like pre-order, stop loss, etc. and there are no time limitations. If the trader had used all the demo funds, they could always have it replenished. Using a demo account is an ideal way for new traders to test the trading skills before they proceed with a live trading account.
IQ Option offers its traders to trade more choices and CFDs by using their preparatory mobile app. Additionally, this app works on Apple and Android iOS operating systems, which can be downloaded through the Google Play or Apple store. The mobile app offered by the IQ Option is very simple and easy to use, which has an intuitive graphical interface. Also, it has the same charting options which are found on the regular web-based platform.
IQ Option has developed trading technologies for mobile trading app devices. It has apps on the Apple store and Google play store as an Android version. The mobile app is free to download, and the trader can connect their account to the app when it is downloaded on their device.
Even though the functionality had been scaled down in order not to compromise on the visual effects of the app, yet there are several functionalities like charts, technical indicators like Moving averages, Bollinger bands, and several others. A trader can manage several different trades simultaneously on the mobile device. Moreover, if the trader likes to avoid any delays in executing the trades by using IQ Option mobile app, they should make sure that they are connected to a stable internet connection on their mobile phone.
As per our IQ Option reviews, it is operated and owned by a company in the European Union. They are also registered as a financial service provider in Cyprus which means it is legally permitted to take European clients. Further, these clients will have complete protection offered by CySEC.
This platform does not operate in a few countries. Some of the countries where it is not allowed to operate are Canada, Israel, USA, Australia, Palestine, Syria, Russia, Japan, Belgaum, and Iran. Additionally, IQ Option allows funding in USD, EUR, and GBP. Some of the other currency groups that are supported are IDR, RUB, MYR, Yuan, and several others. It currently offers support IQ option in 13 different languages for the benefit of its users.
As per our IQ Option review, one of the most interesting features of this Binary options broker is the trading competitions. There are few interesting trading competitions for the traders on the platform, by offering prices. By participating in the competition, the traders can become more competitive, and trading opportunities for the traders to test their skills with the other traders. Further, these competitions need a small fee to join and go on for about 30 minutes. There are more competitions for crypto traders than for traders who trade using fundamental analysis.
Prices are offered in cash, which are multiples of the initial buy-in amount when a trader enters a competition, they will be provided with the demo funds to trade; and the trader who trades and makes most of the returns will be declared as a winner. It is important to note that these trading competitions need a certain minimum of traders to enter before the competition gets started. If there are fewer competitors, then the competition will be canceled.
If the trader recommends several people, then they can make use of the IQ Option affiliate program. This program is a commission-based structure that will pay the trader based on the training fees that the referral will generate. The traders can also operate with a tiered structure, where more the people sign up on the platform, it will bring more rewards to the trader.
This means that if they can bring in a certain specified amount as a business, the benefits as an affiliate on the IQOptions will be increased. When the trader starts promoting the CFDs at IQ Option as an affiliate, they will get a 50% revenue share deal with it. It implies that for the lifetime of the client, this binary option broker will pay the trader 50% of what they earn.
The affiliate program provides videos, scripts, iframes, banners, that allows the trader to use it most effectively to market the product. They can be accessed in the IQ Option affiliate dashboard, and the trader can do the search based on instrument, language, or asset. The Affiliate program rights reserved by IQ Option.
Awards Bestowed on This Broker
It has received many awards in Binary options trading and also for its performance. Below given is the list of the awards bestowed on this broker –
As per our IQOption reviews, it has received an extensive list of awards over the years, and each of them shows that the platform’s strength. It had received the Academy of Interactive and Visual Arts honored It with an Award of Excellence in 2017. This was remarked as the highest honor from the communicator awards. It was recognized as one of the top trading apps in the financial category.
This binary option broker received the Rising Star Award in 2016, for “The intelligent trading app for binary options” from the Mobile Star Awards, which is considered as the largest annual awards program worldwide for mobile software and innovations. It received this award for its best design and efficiency.
In 2016, the web marketing association offered IQ Option with the Best Technology Application for the company’s mobile application.
Also, IQ Option has been offered the Century International Quality Gold ERA award from the Business Initiative Directions Group for recognition for the company’s commitment to quality and Excellence and especially for customer satisfaction.
In 2015, it received the title of best binary options broker Europe 2015, from the Global Banking and Finance Review. Besides, IQ Option also received the title of the most innovative binary option platform from the IFM awards in 2015 and the best mobile trading platform.
In 2014, Global Brands Magazine, a brand observer in Britain, honored IQ Options by offering the title of Fastest Growing Binary options brand. In Forex awards 2014, It was honored the best trading platform; also, in the same year, the master Forex-V awarded IQ Option the world’s leading binary options broker and the most reliable broker.
Is the IQ Option Trading Platform Safe?
Along with maintaining segregated accounts for client funds, It offers security in several ways. It has complete SSL encryption; by this, all the communication by the trader sent to the broker server is strongly encrypted in such a way that it needs 256-bit encryption standards. This encryption restricts the ability of hackers to access the information by allowing IQ Option to offer the added protection of client funds and information of the traders.
The company provides customer service and customer support, which is professional and dedicated. This broker offers a toll-free helpline number for the countries which include Brazil, South Africa, United Kingdom, Singapore, India, Columbia, Thailand, Mexico, Australia, Spain, Portugal, and Argentina. Moreover, it also offers a 24 hours customer support team, phone support, and the traders can also chat, and they can send an email to the customer service team in case if they have any queries or they face any problem or difficulties.
IQ Option is a leading binary options trading platform, and it offers the traders various functionalities and assets like binary options, stocks, digital options, commodities, Forex, etc., to trade and to make money. It offers various functionalities, and the traders can be comfortable in keeping in mind that it is in par with the latest financial regulations.
It also offers an alternative to trade with cryptocurrencies, by offering several digital currencies which include Bitcoin, Bitcoin Cash, Ripple, Litecoin, Ethereum, and several others. Further, the software solution offered by this broker is very easy to use. All the important functionalities have been integrated into the platform interface and are user friendly, so that even the new traders will quickly learn how to trade in it. But one should always keep in mind that CFDs are complex instruments and come with a high risk of losing money rapidly. So always consider whether you can afford to take the high risk of losing your money or not. In fluctuating market conditions, traders must keep track, so that they can trade with this broker efficiently.
1. Can You Make Money with an IQ Option?
There are testimonials and good remarks about this broker that the traders have made money with them. To make a profit, the trader can forecast an asset price movement before the time the trade contract expires. Moreover, it provides short term trades that allows the traders to make money within 60 seconds, if the trader predicts the market direction correctly. Further, trading in binary options offers up to 95 percent profit, while digital offers up to a profit of 900%.
2. What is the minimum deposit to open a trading account?
The minimum deposit to be added in the IQ Option account is $10 for minimum trade.
3. How fast can the withdrawal request be processed?
When the trader makes withdrawal requests at IQ Option, it takes one business day, or it can be dealt with within a few hours.
4. What is the maximum leverage available at IQ Option?
IQ Option provides a maximum leverage of 1:500 for non-EEA members. Besides, EEA traders have leverage capped at 1:30. EEA traders can register as a professional, which means the regulatory limits will not be applied to their account.
5. Is the IQ Option Online trading platform suitable for day trading?
As per our evaluation, it is considered as the best broker for day trading. One of the important factors to consider before proceeding with trading is to look at the type of instruments that are available for trading. IQ Option offer the traders to open and close the minimum trade positions at any time. This implies that it is the most suitable broker for day trading.
6. What are IQ Option accepted countries?
IQ Option accepts traders from the United Kingdom, Thailand, Singapore, Hong Kong, South Africa, France, India, Sweden, Norway, United Arab Emirates, Denmark, Kuwait, Saudi Arabia, Qatar, Luxembourg, and several other countries.
7. What trading platform does IQ Option use?
IQ Option uses a proprietary trading platform. It had constantly improved and developed, also added new features and also new markets. The charting facility offered by the platform is very advanced and very useful for the traders.
8. How does IQ Option work?
IQ Option is the best trading platform that helps the trader to start their trading journey. It offers trading instruments such as digital options, binary options, cryptocurrencies, currency pairs, CFD contracts, and Forex. Besides, the trader, after registering on the platform, can practice trading on a demo account and then continue to minimum trade in the live account by using real funds.
- - IQ Option offers an excellent user interface
- - It is regulated by CySEC
- - The trader can open an account with a minimum deposit of $10
- - MT4 Integration is not available
- - Does not support major countries
- - Customer Service needs to be improved