IQ Option Review – Best Binary Broker.net

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Contents

IQ Option Broker Review

IQ Option is a regulated and award-winning online broker that enables customers to trade a wide range of instruments and underlying assets. Operated by IQ Option Ltd, the licensed broker offers it services to traders across the world.

It is important to note that IQ Option is one of our top and most highly recommended brokers for investors in South Africa.

One of the most interesting things about IQ Option is their incredibly low minimum deposit. You can start trading with only $10 and get access to a proper live account.

Read our full review on one of the most famous brokers out there, or skip straight to the part you are interested in below:

*The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

IQ Option Trading Platform and Versatile Assets

While they originally started as a binary options broker, they quickly became a broker that has it all, from CFDs/Forex and Classic Options trading. This makes them one of the most versatile brokers for online trading. Basically, whichever instrument or underlying asset you can think of – they have it.

The minimum trade price is $1 for binary options and digital options, and $20 for forex and CFDs. The maximum option price is $5,000. If the trader wants to place multiple trades with a variety of instruments, it’s not a problem with IQ options’ platform. All they need to do is select the asset in the upper left corner and the instrument below.

Currently available instruments are:

  • Binary Options
  • Forex CFDs
  • Cryptocurrency CFDs
  • Classic options
  • Stock CFDs
  • FX options

With IQ Option, traders can place trade contracts and options based on numerous stocks, currencies, commodities and indices. There are more than 500 underlying assets, to be exact.

Specifically, there are currently 90 currency pairs available, including all the most popular cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, IOTA, Dash, Ethereum Classic, Monero, OmiseGo, Zcash or Santiment. Of course, these currencies also include EUR, USD, GBP, RUB, AUD, CAD, NZD and Yuan.

Tip: Check out what Twitter CEO Jack Dorsey recently said about Bitcoin and how you can properly trade Bitcoin CFDs at IQ Option.

IQ Option also recently expanded their asset collection by adding cannabis stock CFDs, which have become increasingly popular in the online trading market. Examples of marijuana stocks you can trade at the IQ Option are: Aurora Cannabis Inc, Canopy Growth Corp, Cronos Group Inc, GW Pharmaceuticals – Adr, Tilray Inc-Class 2 Common, Anheuser-Busch Inbev-Spn Adr, Etfmg Alternative Harvest and many more.

As for leverage, IQoption offers leverage on up to 20x for stock CFDs and FX trading of up to 1000x – known as the 1000x multiplier. IQ Option advises customers to use this tool only if they fully understand that higher leverage may mean higher returns, but can also result in higher losses.

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IQ Option really is a one-stop-shop for online trading.

IQ Option Unique Trading Platform

Unlike so many other brokers in the industry, IQ Option uses its own software, the IQ Option platform, which they continue to update regularly.

The IQ Option platform is highly developed and entirely user-friendly, so all traders should be able to easily navigate through the site and trading room. This easy-to-use interface allows investors to trade in the office, at home or on the move through their mobile platform.

IQ Option is currently responsible for more than $11 billion worth of trades every month, so it has a proven track record of making trades as simple as possible.

One thing is certain: IQ Option offers the ultimate trading experience for everyone – no matter your experience.

How Do I Trade on the IQ Option Platform as a Beginner?

One thing that makes the IQ Option interface so easy to use is the fact that all of the trading instruments are available on exactly the same dashboard.

All you need to do is:

  1. Select an asset you want to trade
  2. Predict this asset’s direction
  3. Make an investment
  4. Close the position

Binary options trading is even easier, because the trades close themselves automatically when the expiry time has been reached.

Throughout this entire process, IQ Option offers many charts that display the most recent market trends, so users can make judgment calls with the most recent data at hand. There is also always the option to set your Stop Loss and Take Loss Profit — so there’s no need to constantly monitor trading positions.

For more details and a visual guide on how to trade with IQ Option, check out the video above.

In addition, their platform is multilingual and available in English, Italian, German, Russian, Spanish, Turkish, Portuguese, Chinese, French, Swedish, Korean, Arabic and Indonesian.

With the quality of their services and their up-to-date customer support, it shouldn’t come as a surprise why this broker is so popular among traders worldwide.

What are IQ Option Price Alerts?

To make your life easier, IQ Option recently added a brand-new feature to their trading platform: price alerts. Price alerts automatically notify you when an asset has reached the price level you want.

Part of being a successful trader is knowing when to act, in other words when to buy or sell an asset. No one wants to be glued to a screen staring at charts and financial market news all day. Thanks to IQ Option’s price alerts, all you need to do is set up an alert for the assets you want and IQ Option will automatically track them and send you a notification when the price you were waiting for is reached.

To set up an alert:

  1. Select an asset
  2. Click “Create alert”
  3. Set the price you want to be notified for

Getting Started – IQ Option Trading Accounts

Registration with IQ Option is completely free, and all South African traders can get started with a deposit as low as $10.

Even so, anyone can experience what this powerful trading platform has to offer without spending a penny, through their free demo account.

IQ Option Free Demo Account

All registered South African users have the option of trading with a free practice account, before depositing any money. This means beginners get to learn the basics of online trading entirely risk-free. Experienced traders, on the other hand, have the ability to fully test the IQ Option platform before investing any real money.

The IQ Option demo account gives South African traders $10,000 of virtual funds to practice with, which can be re-filled at any time.

Once investors have practiced and are ready to start trading for real, IQ Option offers two separate account types they can choose from: the Real Account and the VIP Account.

Real Account ($10 Minimum Deposit)

As mentioned before, South African investors can begin trading with IQ Option with the minimum amount of $10, which gives them full access to a Real Account and all trading instruments and services. The number of assets available are 500.

South African traders also have option to participate in different trading competitions and access their numerous trading tools.

All withdrawals can take up to 24 hours.

VIP Account ($3,000 Minimum Deposit)

In order to access the VIP Account, a minimum deposit of $3,000 is required.

In return, South African traders get VIP access to a variety of useful trading instruments and special features, such as:

  • Higher profitability rate (3% advantage)
  • Personal VIP account manager
  • Free tournament participation

IQ Option Education Resources

Trading global currencies can be a daunting prospect for beginners, but IQ Option has the education resources available so that even complete trading newbies can fully understand and be able to take advantage of all that IQ Option has to offer.

Besides their free practice account that is available to all South African registered users, IQ Option offers various video tutorials which allow investors to hone skills and master the mechanics of online trading.

One of the main reasons for the rising popularity of IQ Option among ordinary investors is also the community spirit it offers. If you are not sure or want to ask anything, you can always call upon support or get advice from industry professionals and fellow traders. The best part is that you can do this all directly through the IQ Option platform.

IQ Option Affiliate Program

Besides earning a spot as South Africa’s top online trading broker in our awards, IQ Option also has one of the best affiliate programs in online trading.

An affiliate program is for South African users who are not looking to trade with IQ Option themselves – but partner with them. As an IQ Option affiliate, you have the opportunity to earn up to 70% of profit by promoting the award-winning broker on your blog or website.

All you need to do is:

  1. Join the IQ Option affiliate program
  2. Get your own affiliate link
  3. Post this link on your blog or website as an ad
  4. Earn up to 70% of commission when a user clicks on your link and starts trading with IQ Option

Your earnings will then be transferred twice a month via your preferred payment method.

For more details on the IQ Option affiliate program and how to make up to 70% of profit, read our IQ Option affiliate program review.

How to Contact IQ Option

The customer support team at IQ Option is available 24/7 through email ([email protected]), phone or online web form.

Unfortunately, there is no South African number available, but we listed the numbers that did find on their website below.

IQ Option also offers a live chat, which is available for all South African users on their platform.

IQ Option Deposit and Withdrawal Methods

IQ Option takes the security of all its traders very seriously and presents no difficulty throughout the deposit and withdrawal process – which many traders already know can be a frustrating common practice when it comes to other brokers.

With IQ Option, the estimated time of withdrawal is one business day. The minimum withdrawal amount is $2, due to commissions. IQ Option offers deposits in South African Rand, as well as many other currencies. Check out the table for more information on minimum deposits.

By trading in South African Rand, you can easily avoid those pesky conversion rates!

As for deposit methods, South African traders can use different payment options, including:

  • Debit (Maestro and Visa Electron)
  • Credit cards (Mastercard and Visa)
  • Bank wire
  • e-wallets (Skrill Moneybookers, QIWI, WebMoney, iDeal, Neteller, FasaPay, Boleto and CashU)

Their entire payment procedure for South African users is explained in detail on their site, which is very important because it is an immediate indicator of a transparent business.

Is IQ Option a Scam?

The question of whether IQ Option is a scam can be found through various traders who have commonly been scammed by other companies and are afraid to invest their money again.

The truth is that IQ Option is one of the best choices of regulated brokers out there and has won awards for their innovation, regulation and success. This broker is fully licensed, which means that they completely follow all regulations and practices that ensure trader’s protection – which they in turn take very seriously.

In addition, they have a fast-growing online trading platform that caters to absolutely anyone.

Don’t believe us? Let the numbers speak for themselves:

IQ Option is home to more than 20 million active traders worldwide. The IQ Option platform processes around 3 million transactions per day, while the money withdrawn by IQ Option traders every month has risen from $500,000 in 2020 to $5.7 million by the end of 2020.

The fact is we have received no complaints regarding this broker, so we can confidently say that IQ Option is not a scam. South African investors can trade in peace knowing that they are trading with one the most famous licensed brokers worldwide.

IQ Option

IQ Option are a leading online broker offering binary options, CFDs, cryptocurrency and forex trading. Our detailed review includes a full run down of the trading platform, review of the mobile app, plus info on how to use the demo account effectively and tips on strategy and options. Join millions of other traders and login today.

Trading Platform

To provide clients with access to financial markets and online trading, IQ option developed their own bespoke trading platform and range of instruments. The interface and features of the platform are not what most binary traders are used too, as it is modelled on the more advanced systems used by the spot forex trading industry.

The IQ Option software includes tools such as stop losses, and take profit levels – features not available at ‘standard’ binary operators.

To add trader risk management and trading strategy choices, the firm also created a ‘Position top-up’ feature. This is a mechanism which allows trades to be kept open beyond the stop loss.

Strategy Tools

The strike price and trading buttons are clear and intuitive, as are the price graphs and charts. Navigation is simple, traders can easily switch between assets and markets. On top of that, the whole layout is configurable and customisable – so traders can move multiple graphs or analysis tools where they like in order to suit their trading strategy.

The customisable elements do make this one of the best trading platforms in the industry.

The platform is available as a web-based hub, or alternatively, traders can download a version for either PC or Mac. The download is fractionally quicker. There is also the mobile platform. All the platforms are reliable, but the PC download has the quickest trade execution times.

At present, there is no Metatrader 4 (mt4) integration.

It is clear then, that the software is one of the most sophisticated trading platforms around in the binary industry, particularly the over the counter (OTC) brokers.

The website is available 24/7 so there are no ‘opening times’. Assets will only be available to trade when the relevant market is open, however. So many forex pairs are traded around the clock during the week, but US stocks can only be traded when the NYSE is trading.

Charting

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.

Forex And Crypto Products

The newer products such as forex and cryptocurrency trading display slightly different options based on the market being traded. For example, the forex trades will bring up leverage and stop loss features. Assets such as Bitcoin or Ethereum, traded via contracts for difference, do not have an expiry time. They do however, have a stop loss and take profit feature. The new forex offering also makes weekend trading possible.

The look and feel remains the same throughout the trading range however, and all the relevant information is available to the trader. So a trader used to binaries can still feel at home if they want to trade forex.

Mobile App

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.

There is also an ‘IQ Option for Windows’ version, as well as the android and iOS versions. The download buttons below will take you straight to Google Play or the App Store, and the most up to date version of the mobile trading app:

Download the IQ Option App

Demo Video

Below is an IQ Option demo video. It is a full demonstration of all the developments added during the recent ‘platform 4.0’ upgrade. The demo includes how users can amend the trading area to suit their own needs. It shows how to check the same price chart over more than one timeframe, how to add technical analysis overlays and how all this can improve trading results.

While the video is not an out and out tutorial, it does deliver a full demo of the user experience, the new trading platform, and how it differs from other binary options broker platforms.

Trading Options (CFD, Forex and Binary)

IQ Option has consistently added to the portfolio of underlying assets. Traders are able to trade in the 4 major asset classes such as forex, commodities, equities and indices. They also respond to user demand, for example, the Cryptocurrency range is now huge.

Currency pairs are a particular strength at IQ, with some of the more exotic currencies available, including NOK, SEK and TRY. The asset list is comprehensive, so traders can deploy their winning tricks across a range of markets. Dollar, Euro, Yen and Pound sterling still dominate the majority of forex trades and produce the bulk of trading volume. EUR/USD remains the most popular pair for trading.

The firm have also added to their range of expiry times. Previously specialising in short term expiries, IQ now offer many more options – including the popular End of day expiry, and longer term End of week and End of Month. Trader choice has never been greater.

Forex and CFD trades expand the user choice even further. Foreign exchange can be traded per pip (in addition to binary trades) and CFDs can be traded with no expiry for longer term trades. The recent cryptocurrency expansion offers access to bitcoin and 6 other cryptocurrencies, via contracts for difference – meaning no expiry.

Forex multipliers are a feature that IQ Option added to provide a level of leverage. The maximum multiplier now reaches an exciting x1000 – but remember this impacts both profit and loss. So you can magnify your trade size by x1000 to take advantage of even small moves in the currency markets.

FX Options

IQ Option have added FX Options to their list of products. A cross between binary options (limited expiry, limited risk) and traditional forex (profit depends on the underlying price movement), FX Options will offer EU traders an alternative to binaries. With ESMA banning binaries in the EU, IQ Option want to create a product that is similar, but does not fall foul of the ban.

The options allow traders to select their own strike price, and trade higher or lower from there. Payout %’s vary based on the price movement required for the trade to finish ‘in the money’.

As these are more like traditional options, they can be closed at any time using the ‘Sell’ price and the volatility and time left will impact the value of the trade as the expiry nears.

As a newly released product, IQ only provide hourly expiries at present. The choice is likely to expand however, if the product is successful

The screenshot above shows the possible strike levels on the right, alongside the trading buttons. The red / green bar illustrates the potential payouts and these will vary and change based on the strike price, time to expiry and the current market value.

CryptoCurrency Multipliers

In addition to traders having the ability to trade crypto assets using CFDs, Forex or Classic options, IQ Option also introduced a new vehicle – Cryptocurrency multiples. These trades are effectively a leveraged trade. The underlying price remains the key element, but with a multiplier, the trade is magnified. This increases the potential profit, or loss, made on any deal.

Initially, IQ only offered Bitcoin x 100. As the name suggests, it was a multiplier of 100 applied to the Bitcoin price. Increased volatility, for an already volatile asset – ideal for traders.

The product was so successful that IQ have expanded the offering. So multiples are now available on more cryptocurrencies, e.g. Ethereum (ETH), IOTA, TRON and Ripple. The multipliers range from x20 to x50 and x100 on Bitcoin. It offers another high risk / reward route for traders to profit on crypto assets.

Trading Costs (Spreads, Commission)

When comparing brokers, you need a broker that is transparent with their fees and costs. To judge what trading at IQ will cost, you need to consider:

  • Spreads – The price gap between buy and sell values. This varies based on things like volatility, asset, liquidity and even hours.
  • Withdrawal Fees – There are no withdrawal fees on most payment service providers. Bank transfers do have a charge of $31 (or currency equivalent).
  • Commission – On cryptocurrency trades, commission of 2.9% is be levied. Other markets do not have commission at all.
  • Swap Fees – Fees are charged for certain trades held overnight. They vary from 0.1% to 0.5% and are higher when left open over the weekend.
  • Dormant Account Fees – Where an account is inactive for 90 days, a charge of €10 (or currency equivalent) will be made each month until the balance is zero.

Deposit & Withdrawals

Deposits can be made using a range of options – these will vary based on the user country, but popular methods include debit and credit card, e-wallets such as Skrill and Neteller and even crypto currencies via the Hodly service. Bank transfers via debit card remain the most popular option for European based traders.

IQ Option also recently introduced AstroPay to facilitate payments from regions that may have had fewer options in the past, such as Brazil, Argentina or Vietnam. In addition, IQ now also accept bank transfers from a wide range of Asian banks:

  • Thailand – Bangkok Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Bank of Ayudhya, Government Savings Bank, TMB Bank.
  • Philippines – Help2Pay
  • Indonesia – Central Asia, Rakyat Indonesia, CIMB Niaga, Negara Indonesia, Mandiri.
  • Vietnam – Vietcombank, Bank for Investment and Development, Techcombank, Vietin Bank, Asia Commercial Bank, Sacombank, Donga Bank, Eximbank.
  • Malaysia – Supported banks include: Maybank,RHB Bank, Public Bank, Hong Leong Bank, CIMB Bank, AmBank

South Africa is also supported via range of new payment methods including Perfect Money. In fact, Perfect Money caters for a huge range of regions, including South America (Argentina, Brazil and Colombia)

China Union Pay provides a payment solution for traders in China, Taiwan, Hong Kong or Macao

Deposit errors are rare, and the support desk can usually help if users encounter issues. It is safe to deposit with IQ Option.

Withdrawals can be made using the same list of methods. Verification is often required before a withdrawal method can be used, and withdrawal proof remains in the user area for the lifetime of the account for auditing etc.

Account Type

The standard trading account requires just the minimum initial deposit of $10. The basic account includes all the option types, withdraw options and functionality as the higher level accounts.

The firm offer a VIP Account. In order to get a the VIP account type, a trader needs to deposit $3000 or more in one deposit. Benefits to VIP status include:

  • Higher Payouts (For example, +3% on FTSE or Google trades)
  • Entry to larger tournaments, with prizes up to $100,000
  • Educational materials exclusive to VIP account holders.

Payouts

In term of returns on investments, the standard payouts offer very competitive rates. Under the right circumstances, traders can earn up to 91% payout in the case of a successful trade. These payouts will vary based on the asset and expiry time selected. The ‘headline’ payout of 91% is among the best offered in the industry. Note the term ‘profit percentages’, does not imply guaranteed profits, simply the profit made for a single trade when it is successful.

Forex And CFD

Payouts on products such as Forex and CFD trades will depend on the performance of the underlying asset. IQ provide the sort of risk management tools you might expect when trading these tools. They include stop losses and user defined leverage (which can be set to zero). The new products move IQ Option into the leagues of major global brokers, and their offering is certainly up to that level. They even offer direct access to bitcoin and ethereum trades – which many larger brokers do not.

The spreads on foreign exchange and CFD trading are competitive too. So the costs or fees of doing business with IQ are low, and certainly on par with the larger, established online brokerages. The free practise account is a good way to experiment with other asset types, risk free.

Promotional Code

IQ previously offered monthly promo codes for new customers as a welcome offer. These were paid as a deposit match, and the level would ‘scale’ based on the size of the initial deposit. These types of offer have been withdrawn following regulatory changes however. As a responsible regulated broker, IQ no longer offer this type of incentive. Reviews still referring to bonuses are likely to be out of date.

Is IQ Option A Scam?

IQ Option is licensed and regulated by CySEC, but they have also sought to register with other regulatory bodies (full details can be found on their website). They are a ‘legit’, reliable business. Their affiliate network all market responsibly and ensure the nature of trading is reflected accurately. They are licensed by the FCA in the UK as the regulatory landscape recently changed there.

Trading with IQ Option is legal around the world, from India to Ghana, Vietnam to the UK.

History

Established in mid 2020, the brand is – in our opinion here at BinaryOptions.net – one of the most reliable and innovative binary brokers in the industry. Their reputation is also enhanced by various awards that they have won from a range industry reviewers. They list their full array of awards on their website – The list of awards quoted on their website are reputable comparison sites and confirm their credibility. IQ Option is safe and not a scam.

Our user satisfaction feedback is positive for IQ – Users have few complaints and use the IQ option platform for many months and years. The forum response is also positive.

Problems of site connection (site “not working” or “not loading”) is often a local issue for the user rather than a genuine issue with the platform. Likewise ‘server down’ or similar errors are normally the client end rather than a genuine problem at IQ Option

The firm operates in a very transparent way, in order to maintain their reputation and user confidence, for example:

  • Free Practise / Demo Account – This runs in parallel to the real money account and is not time restricted. IQ Option are happy for traders to hone their skills for as long as it takes, and have faith in their trading platform to maintain trader retention. A demo download is available, but traders can also simply use the full, mobile friendly, website. The demo balance can be reset by contacting the support teams.
  • Offers – Deposit match bonuses have been dropped entirely due to CySec and ESMA rules. The regulator deemed this type of bonus as being high risk, and as a regulated brand, IQ have stopped offering them.
  • Hedging – IQ are clear on how and when they will hedge their own positions. This should act to reassure traders who fear ‘over the counter’ brokers only want to see traders lose. IQ actively manage their risk.
  • Support – Support is offered in a range of languages and includes live chat for quick resolution of any complaints. Users needing to Unblock, Delete or Close an account need to contact telephone support.
  • News – Event Calendars and brand news is fed through to the user area.

Regulation

As indicated on their website, IQ Option Europe Ltd is operated by Infofield Premier Ltd (Registration No: HE324593) and Investlab Holdings Ltd (Registration No: HE327751). Since Investlab Holdings Ltd is regulated by CYSEC (License Number: 247/14), this means traders trading on the platform are also protected under the provisions of the MiFID.

Open Trade Network

IQ Option started the roll out of their blockchain based cryptocurrency exchange. Called the Open Trade Network (OTN), it is built on the Ethereum blockchain platform.

It delivers a stand alone cryptocurrency wallet and exchange. Designed to meet the needs of a growing market, and regulators who will want to oversee the operation. The system is due to be live in early 2020.

IQ Option is not raising money for this project through an ICO, and this presents an opportunity for traders. Instead OTN coins will be awarded to traders, wallet users and token holders as an incentive to use the platform and provide liquidity.

IQ Option will recoup their investment through a portion of coins held for that purpose. The total number of coins to be issued is 100 million with 42 million going to the traders and wallet users over the next 2 years. Once the platform is live OTN tokens will be tradable and sellable on the open market.

This is a significant development. This blockchain innovation reflects the major disruptive influence IQ are trying to generate in the finance sector as a whole.

Demo Account

IQ offer the best demo account terms in the industry. It is a No deposit demo account. The balance can be restored to $1000 as often as required, and the practice account is useable long term, there are no time restrictions.

The demo, or virtual, account can also run alongside a real money account – not “instead of”. This allows real money traders to change into the demo account, and trial a new strategy or strategies without risking real money. It is the most flexible demo account available and is entirely risk free. This offering, coupled with the low minimum deposit, is why this broker have grown so quickly. It is also why the brand attracts beginners and novices. It demonstrates a real confidence that they have the best trading platform, and know that once traders have used it – they will stay with them.

Countries

IQ offer trading in a range of countries, and also support across multiple languages. In 2020, the firm operated in 18 countries – in 2020 it was up to 178. There are however, some countries where trading is not possible with IQ due to regulations or local laws. So traders from Canada, USA and Australia are not permitted to open accounts at present.

Having started operating mainly in Europe, the UK (United Kingdom) is one of the largest trader ‘bases’ for the brand, followed by other European trading hubs, such as Germany and Sweden.

The firm are also growing very quickly in Asia, with binary becoming legal in India. They have recently added multiple regions to their list, including:

  • Malaysia
  • Singapore
  • Thailand
  • India
  • Pakistan
  • Philippines

Other areas of growth include Africa, where Ghana and Nigeria are seeing large numbers of new traders. This growth is aided partially by a ‘softer’ regulatory regime. With responsible brands such as IQ Option, this actually works well. Similar reasons have led to marketing pushes in UAE, Brunei and even Japan.

Traders in these regions are now able to register at IQOption. The login process is very quick, and the demo account sign up requires only an email address. Beyond the login screen, traders will need to make a deposit before trading for real money. The minimum deposit however, is just $10 – among the lowest in the industry. The minimum trade is equally low, at just $1 per trade.

Tournaments

There are regular trader tournaments across the trading platform – each carries their own set of terms and conditions. These are generally a competition based on trading success with a leaderboard. They are a method by the broker to encourage trading, so the tournaments are usually decided via the amount of total profit over a given period.

They offer a great way for traders to compete against each other, and create a lot of interest. The terms will often vary – so one tournament might focus on short term options, while the next might look at a specific asset class, like forex.

Often there are substantial prizes for the winners of these competitions. These range from cash rewards, to more unique prizes, such as the recent Aston Martin race day experience. These gave winning traders the chance to enjoy a race day in one of the sponsored Aston Martin Racing cars. These tournaments really increase the customer friendly feel promoted by the firm, and they are worth looking into.

Strategy

Specific strategies for use at IQ Option are difficult to detail due to the vast options available. From rainbow strategy to technical analysis a trader’s choice is endless. A winning strategy for eur/usd may not work for trading oil, and learning lessons from a 60 second strategy may not improve results for 5 minute or longer trades.

The demo account is a great place to experiment and find winning strategies however. Every trader will need to find their own system, and the unlimited demo at IQ gives traders a better ‘sandpit’ than vs Plus500 for example.

Binary vs Forex

The binary vs forex debate is another complex argument when looking at strategy – it will always come back to the trader, their risk appetite and their favoured length of trade. Our strategy section may contain useful ideas, as will the forum. Our blog entries often contain trading tips, but how they are implemented or acted on is of course up to the trader.

Strategy elements like money management are really a question for each trader, as only you can know your risk appetite.

The last point on strategy is that there is no such thing as a ‘no loss’ system. Some trades will win, some will lose, but a winning strategy is profitable in the long term. Anyone offering 100% accuracy (or anywhere near) is very likely to be dishonest. Discussions on Reddit or Youtube are extremely unlikely to be legitimate traders giving away winning systems for free!

Signals And Automated Trades

At present, IQ do not deliver signals to traders. There are sentiment indicators which give a feel for market sentiment, but no automated signals.

Expert advisors are often a feature promoted at other brands, but ultimately an employee of the broker acting on behalf of the trader is unlikely to be impartial. IQ do not offer an expert advisor service on a standard account.

The firm prefer to enable and educate their traders to make their own trading decisions.

What is the minimum deposit for opening a trading account?

The minimum deposit at IQ Option is $10,€10 or £10.

Is the IQOption platform reliable?

Yes. The website, desktop download and mobile app all boast reliability. IQ do however, recommend the desktop software for the quickest execution times.

What trading platform do IQOption use?

IQOption use a proprietary trading platform. The platform is constantly developed and improved, both to add new features, but also new markets. The charting facility on the platform is very advanced.

Do IQ Option offer leverage?

Yes. While the maximum leverage offered by IQ Option is 1:500 for non-regulated members, EEA traders will see leverage capped at 1:30. It is possible to open a professional account to have those restrictions lifted.

IQ Option also offer ‘Multiples’ on certain assets – mainly cryptocurrencies. These act much like additional leverage, in as much as a move in the underlying price is multiplied by as much as x50. See the IQ Option website for details.

How fast are withdrawal requests processed?

Withdrawal requests at IQ normally take one business day. There will then be 2 or 3 business days before the funds hit the account, depending on the withdrawal method requested.

Are IQ Option Regulated?

Yes. IQ Option are regulated by CySec

Is IQ Option Safe?

Yes. They are a legitimate, regulated broker.

Do IQ Option accept Paypal?

No. At present the best e-wallet options are Skrill and Neteller. Perfect Money has also recently been added, as has China Union Pay for traders in Hong Kong or Macao.

Review Conclusions

Pros

• High Returns of up to 91% payout in case of successful trade
• Low Minimum Initial Deposit Requirement – open account with $10
• Regulated Broker with CySec
• Cutting edge Trading Platform
• Direct access to Crypto markets such as bitcoin
• Secure account verification
• Quick withdrawals

Cons

• Smaller range of markets than some rivals on forex and cfd
• Self build robot / auto trading feature removed.
• No MT4 integration

Complaints

Some critical users of IQ point to the site not loading, not working or being offline. These issues are generally at the end of the user rather than the platform. The website boasts impressive uptime statistics and they have a strong motivation to ensure their platform is open for business! It is rare for the site to be unavailable or inactive and we have never encountered such issues when connected via a reliable connection.

Registration

The IQ Option registration process just requires an email and only takes a few moments. Once verified, you then have access to the demo account, and the real money markets. In order to trade on the real account, a deposit will need to be made. The deposit process is simple, much like the register process. The minimum is currently $10, and the smallest trade is $1 per option.

Contact Details

IQ Option offer a variety of contact methods:

  • Email – [email protected]
  • Telephone Support – Offered in 18 countries including Australia, India, Thailand, Brazil, Germany and Spain (Helpline details on the site)
  • Group Details: Registration No. HE327751
    Address: Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33,
    4102, Agios Athanasios, Limassol, Cyprus

Customer support can be accessed via telephone, e-mail or live chat. Customers are supported in over 20+ languages.

Go to IQ Option
General risk warning: your capital is at risk

7 Binary Options

One of the hardest things to do when it comes to trading binary options is to pick a site to trade them on. There are literally hundreds of choices out there depending on where you live. That is why we take our job of doing reviews so seriously because we know you don’t have the time to go through and look at all these sites to trade on yourself.

Today we will take a look at an innovative and progressive broker called IQ Option.

IQ Option first came onto the scene in 2020 and has gained a steady amount of investors since then. When we checked online we found the site gets very favorable reviews and is generally well thought of by those that have traded with them. The site definitely caught our attention when we discovered how much those that traded with them highly regarded this web broker.

Here is our review of what we feel is a very well done and worthy site to trade on.

We will walk you through everything from the signup to the site right on through to placing trades and customer support.

Binary options and digital options are prohibited in EEA

Basic information:

Online since: 2020
Jurisdiction: Seychelles
Software: IQ Option
Max Returns: 92% *Amount will be credited to account in case of successful investment
Minimum Deposit: $10
Minimum Investment: $1
Maximum Price: $20000
Currencies: USD, EUR, GBP, RUB, TYL, BRL, MYR, IDR, VND, CNY
Mobile Application: Android, iOS

  • Proprietary trading platform
  • Good variety of options
  • Interface is very friendly
  • Smallest minimum investment we have ever seen
  • Stand-alone demo account
  • Interactive learning tools
  • Customers not accepted from: USA, Canada, Australia, Belgium, Israel, Palestine, Japan, Russia, Turkey, Syria, Sudan, North Korea and Iran.
  • Users from following countries can not trade from the iOS mobile application: Malta; Android application unavailable for: Malta, Myanmar, Liechtenstein, Cuba.

7 Binary Options Rating:

General Risk Warning: 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. The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions

Binary options and digital options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page

Using IQ Option on Mobile

Since its launch in 2020, IQ Option has been at the forefront of developing innovative technologies in the binary options trading industry. It was the first Russian broker in the sector, and the team behind it used their expertise to create new and effective features that make the platform easier to use.

In the world of binary options trading, that means giving traders features that help them more effectively analyze the market and place profitable trades (with risk of course).

One of the most popular of these technical innovations is IQ Option’s mobile app.

The IQ Option mobile app is one of the best mobile apps from any binary options broker. It is extremely user-friendly. This is, in fact, one of the app’s biggest selling points, as many of the other apps available in the industry are difficult to use.

In fact, with most apps, you have to be an experienced trader who has a deep understanding of the intricacies of the market and the technical jargon used. Not the IQ Option app though. It is powerful and also jargon free and easy to use.

The app simplifies the process of trading binary options, and many traders prefer using it over the desktop website.

It has a comprehensive range of features, so you can do everything you need to successfully trade binary options or forex. There are a few different indicators available in the mobile application. All the graphs are easy to read and have an incredible level of detail, particularly when you pinch the screen to zoom in. Placing a trade takes a couple of simple taps.

It has a modern interface, and everything loads fast. In terms of look and feel – as well as functionality – the IQ Option’s app is a lot like a sports betting app. If you have used one of those, you will quickly get the hang of the IQ Option app. Just like in sports betting, it is all about making an accurate forecast. There is risk involved too— you will lose your money when your predictions are wrong.

The app is secure, so your money and personal data are safe. It also offers good notifications, so you can get involved in tournaments and check price trends as they are happening.

Downloading the App

The IQ Option app is available in Apple’s App Store and the Google Play Store for those with Android devices.

Even if you haven’t used a mobile app for binary options trading before, it is good to have the facility. The reality is that most traders do use desktops when trading, but mobile is a growing market for the industry. This is the reason why forward-thinking operators like IQ Options are investing in their mobile offering, so they can give users a better level of service. This sort of innovation is why so many traders choose to use IQ Option to invest their money.

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Binary and digital options are prohibited in EEA

Sign Up

The landing page for signing up to the site is very straightforward and easy to understand and that was echoed in the actual signup process to access the website.

We just had to fill out a simple form, verify our identity by providing some information to gain access to use the broker for placing binary options trades.

IQ Option was very similar to other web brokers we have signed up with and we found it a very simple process to get done.

Right off the bat we were amazed that all it took was a low minimum deposit of $10 USD or British Pounds to get started trading. That is just about the lowest deposit we have ever seen to enter into trading with a web broker.

We invested a little more than that because we wanted to see how well their worked but so far we were not turned off at all by the signup process and were looking forward to seeing what else they did right with their brokerage website.

Video on How to Trade on IQ Option

Your capital may be at risk. This material is not an investment advise

Types of accounts

IQ Option likes to keep it simple and treat everyone fairly no matter how much they invest so there are only two different account levels on the website Here is what each has to offer:

IQ Option Real Account

  • More than 500 assets
  • Full access to trading opportunities
  • Participation in trading competitions (subject to terms and conditions)
  • Fast withdrawals in just 1 working day
  • Real money trading
  • Start with a $10 deposit

IQ Option VIP account

  • More than 500 assets
  • Full access to trading opportunities
  • Participation in trading competitions
  • Faster withdrawals in just 24 hours
  • Real money trading
  • Personal manager
  • VIP access with deposit from $3,000

Screenshot

Account and Banking Options at IQ Option

IQ Option offers a number of different accounts that you can sign up for. Which one you chose depends on your objectives and the amount of money you want to allocate to binary options trading.

Most people start with the Real Account which has a very low minimum deposit of $10. Your account will give you access to over 500 assets that you can place trades on. All trading features are included with this account, so you can make substantial profits if you make the correct price predictions.

Another account offered by IQ Option is the VIP Account. It has a $3,000 minimum deposit, but it comes with additional benefits. This includes a personal account manager who will help you make the most of your account.

A number of options are available for depositing money into your account. These include:

  • Credit or Debit Card (Visa, Mastercard, Maestro)
  • Skrill
  • Neteller
  • Boleto
  • Qiwi
  • WebMoney
  • iDeal
  • Fasapay
  • Sofort

The low minimum deposit of $10 that IQ Option offers is flexible, but it doesn’t mean you should stick to this low amount. It is always best to base your trading pattern on what is happening in the market and your current financial position.

Everyone has to go through a learning curve, and that will mean some losses. It is much easier to deal with small losses than large ones when testing out a new trading platform.

IQ Option has won lots of awards (you can find rest of them on their website)

Withdrawing Funds from IQ Option

When you start trading at IQ Option, you will eventually want to withdraw some of those funds to spend or invest how you chose. Luckily the withdrawal process at IQ Option is simple and safe. To protect traders’ money, all withdrawal requests have to be approved by the IQ Option team. This means withdrawals don’t take place immediately, but there are no unnecessary delays.

You can withdraw money using a number of different methods:

  • Credit card – Visa Card and MasterCard
  • Maestro Card
  • Bank transfer
  • Skrill
  • WebMoney

Before you make your first withdrawal you will have to confirm your identity with IQ Option. This is to help protect the platform against fraud and to keep it compliant with money laundering legislation. Your personal account manager or a member of the customer support team can guide you through the process. To process a withdrawal, you have to specify the amount, payment method, and currency.

All account holders can expect their withdrawal requests to be processed in one working day. The minimum amount you can withdraw is $2, and the daily maximum is 1 million USD.

Is IQ Option Regulated?

IQ Option is one of the most popular binary options trading platforms in the world, but it is still important to investigate its trustworthiness. This is important to all traders because of the nature of the market. There are two things we have considered when looking at IQ Option – its own policies and its regulation status.

IQ Option hasn’t left it there though. In fact, from the policies that we have read, they offer levels of protection for their customers that are significantly higher than the requirements of the regulator. This includes policies for how traders’ money is dealt with as well as deposit, withdrawal, dispute, and privacy policies.

All of the policies are easy to understand and comply with and are designed to protect everyone involved. This includes actions to prevent money laundering and ensure traders are properly identified. When you are just starting out at IQ Option, the steps you have to go through can seem a bit onerous.

For example, you may have to provide documentation that proves your identity. When you understand that this is for your protection, you will appreciate why it is done. It also helps maintain the reputation of IQ Option.

Learning Tools

We have been telling you all along that IQ Option is among the most innovative websites that we have ever come across. How do we know this to be true? How about the fact that they were the first to offer their account holders a free demo account to practice and learn on; it was a tool that sent a ripple effect throughout the industry as many online binary options brokers and binary option robots followed suit and added them to their list of learning tools.

Their free demo account helps those that trade with them learn how to operate the trading platform and it also teaches them the finer points of binary options trading before they enter the actual trading platform and start risking real money. Demo accounts offer site users an introduction to binary options trading for sure.

The excellent and innovative learning tools do not stop with the free demo account either. IQ Option was also one of the first sites to offer interactive learning for their users too. It is just another way to get ahead in the binary options trading market; the website truly believes that a well-educated binary options trader has a better chance of being a successful binary options trader.

There are additional learning tools such as instructional videos and tutorials. So whether you consider yourself a seasoned binary options trading veteran or not, you will find something useful in their abundant learning section.

Trading Patterns

To be a successful binary options trader you must have a trading pattern. With IQ Option, you can develop a trading pattern and optimize it as you have access to a range of resources and educational tools. You can access most of the tools directly from your dashboard on the trading platform. The visual display is easy to understand. You can see trends, plus there is technical analysis information available as well.

The educational resources cover a vast range of topics. They are also free to use, which is always a benefit to new binary options traders. There are options designed for all kinds of tastes. The resources available include videos and tutorials. Some examples are below.

The Trading Patterns You Can Learn at IQ Option

(WARNING: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future)

Examples of the binary options trading strategies that IQ Option offers are outlined in brief below. This will help you decide where best to focus your time first. Before going into those strategies, it is important to understand some basic tools of investing:

  • Japanese candlesticks – If you have seen a chart that shows the price movement of an asset over time, you have probably seen a Japanese candlestick. They show the movement of the price over a given day. Once you learn how to read them, they are incredibly useful. You get both the opening price and the closing price. An asset that increases in price will have a green candle, and an asset that falls in price will have a red candle. You can therefore see at a glance how far an asset’s price has changed (the bigger the change the bigger the candlestick) and in what direction.
  • Trend lines – Trend lines are depicted visually by a line above the price of an asset on a chart and another line below the price. These two lines create what is known as a trending corridor. They represent the typical upper and lower values that the asset usually fluctuates between, i.e. when the price of the asset reaches the upper line, trends suggest that it will start to move down again. The bottom line is called the support line, and the upper line is known as the resistance level.

Simply understanding these analysis tools and getting practice using them might help a trader understand an asset price movement better.

Let’s now look at the main trading strategies you can learn at IQ Option.

    1. The Three Black Crows Trading Pattern

*Your capital may be at risk. This material is not investment advise.

This is a pattern that looks for trend reversals. To make it work you need to identify an asset that has several candlesticks in a row that are all showing a price movement in one direction – either up or down. Then you have to wait for this to reverse. You will know this is happening when you see three falling price candlesticks in a row. This is an indicator that the trend is reversing and gives you a signal that can be used to make a trade.

    1. The Rebound Line Trading Pattern

*Your capital may be at risk. This material is not investment advise.

In this trading pattern, the price trend of the asset is not relevant. Instead, you look at the trend lines mentioned above. What you should look for specifically is a closing price the is just below the resistance level (the upper line) or just above the support level (the lower line). In this situation, it is much more likely the price will move away from the line than go through it, breaking the trend. Therefore, you can use this as information to place a PUT trade if the price closes just before the resistance level and a CALL trade if the price closes just above the support level.

  1. The Rainbow Trading Pattern

*Your capital may be at risk. This material is not investment advise.

This is a more complicated trading pattern, so it is probably best to get familiar and comfortable with the other options on this list before attempting this one. It works by simultaneously using exponential averages. There are three of them, all with different periods. On the chart of your selected asset you have to mark in blue the first line you see with a period of six. Mark in yellow the second line that has a period of 14, and mark in red the third line that has a period of 26.

To identify a potential drop in price, look out for:

  • The yellow line moving below the blue line
  • The blue line on top of the other two
  • The red line at the bottom

The best time to place a binary options trade (a PUT trade) is when the blue and yellow lines intersect.

To identify a potential rise in price, look out for:

  • The red line on top followed by the yellow line and then the blue
  • The red line on top of the other two
  • The blue line at the bottom

The best time to place a binary options trade (a CALL trade) is when the blue and yellow lines intersect.

    1. The Piercing Line Candlestick Patter

*Your capital may be at risk. This material is not investment advise.

This trading pattern involves looking closely at the candlesticks on your chart. Again, it is about identifying trend reversals. To spot an upward trend that is about to reverse, look for two candlesticks where the second closes in the middle of the first one. The candlestick that immediately follows (the third candlestick in the row) should be ascending. If a fourth candlestick also shows a price increase, a trend reversal is probably imminent.

You can work this pattern the opposite direction to spot a downward trend that is about to reverse into an upward trend. These potential price reversals are good information that you can use to place binary options trades.

* Your capital may be at risk. This material is not investment advise.

The Pin Bar Trading Pattern is another example of a more complex and involved trading pattern to execute. Therefore, it is usually used by traders who have built up some experience using other strategies. It is an effective trading pattern so it is one you should explore when you feel comfortable.

The basic principle is to predict an asset’s upward or downward trend. You do this by analyzing the asset’s pin bar candlesticks – in particular, pin bar candlesticks with tails.

The specific type of pin bar candlestick that you should look for is one with a long tail and a small body. The direction of the tail indicates which way the price might move as it demonstrates which way the market is moving. This is a signal that you can use to place a binary options trade.

Not all pin bar candlesticks with tails are the same, and not all are suitable for this trading pattern. Here are some additional criteria that you should apply to ensure you get a pin bar candlestick that generates an accurate trading signal:

  • Its open and close price should be close to the end of the previous bar
  • This open and close price should be near the bottom or the top
  • The open and close price of the pin bar candlestick should be inside the left bars

The signal is regarded as strong when these conditions are met. Usually, strong signals are an indicator that you should place a trade.

You now need to know whether the price of the asset is going up or down so you can place a winning trade. If the tail of the pin bar candlestick points up, you can expect the price of the asset to go down in most situations. The reverse happens as well. If the tail of the pin bar candlestick points down you can expect the price of the asset to go up.

* Your capital may be at risk. This material is not investment advise.

In this pattern you develop indicators of moving averages. This is done using the technical analysis tools available in the IQ Option. It is an extremely popular trading pattern. In fact, it is one of the most commonly used strategies by traders of all levels of ability. They don’t always use it in the same way, i.e. traders of all levels of ability can successfully deploy simple and exponential moving averages. Weightage and smooth moving averages, however, are usually only attempted by experienced traders who are deploying complex strategies.

Of the four options – exponential, simple, smooth, and weightage – simple and exponential strategies are also the easiest to calculate. This makes it possible to create profitable strategies and place winning trades.

That said, exponential and simple moving averages are not exclusive to beginner traders. They are also used in complex strategies to increase profit margins and win ratios, with the objective being to maximize the benefit of the breaking line and rebound line in the corridor.

  1. The Alligator Pattern

The IQ Option platform makes this pattern quite simple to execute and use successfully. It is another one that is based on moving averages, but this time we are only interested in smooth moving averages. It is theoretically possible to make the trading pattern work with exponential and smooth moving averages as well, but the IQ Option platform is optimized only for smooth moving averages. The reason for this is that smooth moving averages are largely unaffected by insignificant fluctuations in the market. This gives better information and, potentially, makes it more likely to place winning trades.

The smooth moving average that you will monitor will show the different moves of the asset within a defined time period. The lines you see will show the price the asset is likely to reach within the time period. Shocks to the asset or wider financial markets can affect this, but when that doesn’t happen, the pattern is reasonably accurate.

The reason the trading pattern is called The Alligator Trading Pattern is that the candlesticks look like alligator teeth when it is time to place a trade. If the candlestick opens upwards, you should place a CALL trade. When the candlestick opens down, you should place a PUT trade.

If the candlesticks look any other way, you should not enter the market. This is because it is too difficult to predict which way the price is going to move, i.e. you won’t know whether to place a CALL or a PUT trade.

    1. The Breaking Line Trading Pattern

* Your capital may be at risk. This material is not investment advise.

This pattern is one of the simplest to understand and execute at IQ Options. It is based on the support lines and resistance lines of an asset, as explained above. These are the lines that indicate the upper and lower prices that an asset trades between. If those lines are broken, it is an indicator that something else is going on in the market aside from normal price fluctuations. It can, therefore, be a signal to place a binary options trade.

In simple terms, your trade should go with the direction of travel. This means placing a CALL trade if the candlestick closes above the resistance line and a PUT trade if the candlestick closes below the support line. This is because the price is likely to continue moving up if the asset breaches the resistance line, and it is likely to continue moving down if it goes through the support line.

This is a pattern that can be used regardless of how the price of the asset is trending overall.

    1. The Bollinger Bands Trading Pattern

*Your capital may be at risk. This material is not investment advise.

This is a commonly used investment pattern that looks at the volume of trade on a particular asset to generate a signal of which way the price is likely to move. In IQ Option, you use a chart that shows three lines – or bands. The middle band is the smooth moving average and will have around 20 candlesticks.

The bands widen and narrow depending on the volume of trade taking place on a particular asset. When trading is heavy, the bands widen; and when trading is light, the bands narrow. What you should look for is a rapid widening of the bands, as this can produce a signal that you may be able to use to place a trade.

As you can see, IQ Option offers trading strategies that vary in terms of type and sophistication. This is one of the reasons that it is such a popular binary options trading platform. It gives you all the tools you need to develop a trading pattern. You can use the many analytic tools available – all of which are free – to improve your trading patterns and how you interpret price movements.

Getting an IQ Option Demo Account

IQ Option does offer a demo account facility, so you can try the platform before risking any of your own money. Signing up is easy. You can even sign up using Facebook or Google. Once registered, your demo account will become active. It is free to use and includes $1,000 of virtual money that you can use to place virtual trades.

The money and trades are virtual, but they are exact replicas of the real cash trading platform. This means you can use your demo account to develop, test, and refine trading strategies as well as work out whether or not you like the IQ Option platform.

This makes the IQ Option demo account ideal for anyone interested of binary options trading as the demo account can be used without depositing any real funds. You can use a demo account to learn what binary options trading is about, get an understanding of the terms used, and learn more about the strategies that work.

Once you feel you are ready, you can convert your account to a real cash account by depositing money. This will allow you to trade using real funds.

IQ Option Awards

Since it first launched, IQ Option has received numerous awards in the binary options industry. The most recent was an award for being the most reliable broker on the market, while another award was given to IQ Option for having the most innovative trading platform. These awards are industry awards, so the judges include the most experienced and well-respected names in the industry. In addition, IQ Option beat off stiff competition to collect the awards.

Other names that were up for these awards included Finpari and 24option. They are all respected binary options brokers, but IQ Option beats them all.

US Traders and IQ Option

If you are from the US, you will not be able to use the IQ Option. This is unfortunate, as it is one of the best binary options brokers on the market. It is also a further blow to the US-based trader who doesn’t have as much trading platform choice as people from other parts of the world, particularly after SpotOption pulled out of the US market.

Binary options robot that still do accept US-based traders is FX-Advisor.

Assets

If you like to have a lot of options as far as different assets to trade on your binary options then you have come to the right place. IQ Option offers over 500 different options to trade on, many of which are popular stocks such as Wal-Mart, Google and Apple. They offer their users the ability to choose between stocks, indices, commodities and matched currency pairs to trade with. There is enough variety of assets that any level trader should be able to find ones they are comfortable trading with.

Trading Platform

IQ Option decided once again to be innovative and design a trading platform that they thought would really appeal to their many traders and be simple to use and understand. Well they did a great job at this. Their trading platform is among the best we have seen

It is laid out nicely and easily menu driven. It also has unique zoom and custom layout features which are quite unique to say the least. It is a platform that will appeal to many traders to say the least.

Placing Trades

The well-designed trading platform makes it very easy to execute trades on the website. The minimum investment is $1 and the maximum investment is $5000 dollars so it gives you and the other investors on the site a wide range of investment options you can use based on how confident you are in the trades you want to make and the amount of risk you want to go along with that.

All you need to do to place a trade is sign onto the website and go to the trading page. From there you select the type of option you want to trade, the asset you want to trade with the option and the amount you want to invest. All this can be quickly done with just a few simple mouse clicks; it is really that easy to place and execute a trade on IQ Option.

IQ Option’s Binary Options Tournaments

There has been a lot of mention about how innovative the IQ Option trading platform and offering is. One of the best examples of this are the binary options tournaments they run (the tournaments are subject to terms and conditions). This is a unique feature to IQ Options and brings an element of fun and competition to binary options trading.

There is a serious side to them too though.

There is an entry fee to take part in the tournament, and they normally last about 30 minutes, so you don’t have to allocate much time to get involved. Your entry fee gets you a virtual tournament balance of $10,000. You then have to get to work placing binary options trades. The participant with the highest virtual tournament balance at the end gets the top prize. Some of the prizes are variable, so they depend on the number of tournament participants there are, while other prizes are guaranteed.

The rules for each tournament can vary, but some give you the option of buying back in to the tournament if you lose your virtual tournament balance. This buy-in typically costs the same as the initial entry fee and usually brings your virtual tournament balance back to $10,000 so you can start trading again.

The tournaments are an exciting new twist on binary options trading. If you haven’t tried one yet, you should give it a go. In fact, we have seen prize funds worth 100 times the entry fee.

Trading Patterns for Tournaments

The tournaments at IQ Option are exciting and fun, but they are also a competition that is there to be won, and there is real money up for grabs. This presents an opportunity, particularly given the fact that many people involved in the tournaments do so without a clear pattern.

Here are some things you should remember:

  • Always go for the win – Most tournaments have a number of prizes, although the value of each depends on where you end up on the leader board. Therefore, it can be tempting to consolidate your position if you are in a lower place to ensure you get something. However, this type of trading pattern limits your potential and means you may never get the top prize. It is almost always significantly more valuable than the runners-up prizes, so you should always try to win – even when you are in second place.
  • Take your time initially – Don’t jump straight into trading when the tournament starts, as you will be doing it blind. You should first take a couple of minutes to learn how the other participants operate. For example, are they aggressive or cautious? Of course, don’t let anyone build out too much of a lead too quickly, but observing in the initial minutes instead of trading will give you information you can use later to win.
  • Adapt your trading pattern as the tournament progresses – By the tournament’s mid-point, you should have a good idea of the approach of the other participants. You will also know where you sit on the leader board. This is the time you should start adapting your trading pattern to maximize your position. For example, if the main competitors in the tournament are using a cautious trading pattern, you could try putting clear distance between you and them by being more aggressive. If you are already the leader, you can start to consolidate your position without taking unnecessary risks. If you are not the leader, you can work on strategies that keeps you as close to the leader as possible so you can make a final push for the win closer to the end.
  • Towards the end of the tournament, go for it if you are not winning – If you have not had a good tournament and are low down on the leader board towards the end, don’t lose hope. If you still have a tournament balance, you still have a chance. It is a time to throw caution to the wind and take a high risk / high reward approach. If you don’t, you are going to lose anyway, so you might as well go for the win.
  • Analyze and measure – Whether you win or lose, analyze your trading pattern when the tournament is over to identify areas for improvement. You can then use what you learn the next time you participate.

Return on Investment

What is the best thing no matter what binary options website you are using?

That is right, it’s all about making profitable trades.

When you do make a successful trade you can receive up to 92% profit.

Banking

It is as easy to make deposits on IQ Option because of all the different forms you can pay your deposit. They allow you to use such things as Credit or Debit Card (Visa, Mastercard, Maestro), Skrill, Neteller, Boleto, Qiwi, WebMoney, iDeal, Fasapay, Sofort to quickly make a deposit and get you onto the website to start trading.

As was mentioned before the minimum deposit of $10 is extremely low compared to the rest of the binary options brokers, but often traders like to deposit much bigger amounts as well.

Making withdrawals is a very streamlined process also. They will generally be processed in 1-3 business days and they can be done in many of the same forms as was used to make your deposit.

Keep in mind that in order to make a withdrawal the first time you will need to send scanned copies of your government issued ID, a scanned copy of a utility bill and a scanned copy of your signed credit card (it is required to keep only the first 6 and the last 4 digits of the card’s number visible and hide the CVV code) if that is the withdrawal method you are using.

There are no fees or commissions for deposits or withdrawals made with bank cards or e-wallets. The only commission is for withdrawals via bank transfer, which is $53.

Customer Service

Customer support was very helpful and very good at resolving issues but we had some problems with the way the customer service was handled. There is a phone as well as a live chat option for customer service and we were pleasantly surprised by this. It meant there was no way to get an answer to a question or concern in what would be a timely manner.

There’s an assigned account manager for VIP traders that can help you with any issues or concerns you have while using the site but they are not available 24/7 so at those times you may end up waiting for a response. We feel that IQ Option is excellent here.

Is IQ Option a Scam

IQ Option Ltd. is based in Limassol, Cyprus, but has many satisfied customers all over the world, including in Europe, China, South America, and many other countries. In fact, it is one of the most respected binary options brokers available. It has not earned that reputation easily. It has done it through innovation and by offering a trading platform that gives traders everything they need to execute trades and learn more about developing trading strategies.

This sort of innovation and development of the platform requires investment and commitment. IQ Option has been rewarded for this investment and commitment, as it has received many awards. These awards validate their position in the market and are an indicator of the quality of the platform. The awards include the most innovative binary options trading platform in 2020 because of the tools it offers to traders.

Our investigations have discovered that IQ Option operates strict policies regarding payments, and they have robust rules around protecting personal data and ensuring your money is safe.

Trading Cryptocurrencies with the IQ Option Platform

Traders using the platform have the ability to trade cryptocurrencies. One out of 7 crypto currencies can be traded via CFD instruments. The current crypto currencies which can be traded via the platform include:

Our first impression of graph controls is that it does take some getting used to. Perhaps the confusing part of the program is the way in which the move and zoom controls work. We also thought that the analysis tools were very basic especially for someone who has a Forex background. Though the indicators are the stars of the platform and are something, we recommend that you regularly use in conjunction with other technical tools.

The good thing about the program is that the withdrawal and deposit features are part of the primary interface. If you look at the bottom of the interface, you will find a list of all the trades other users are entering into, and all of this information is in real time. The data will help traders gauge the direction of the market even if it does not contribute to aggregate overall trader sentiment like the way SpotOption does with its platform.

There is also a mobile version of the platform mainly for users who need to trade while on the go. We like the fact that the asset list is long, including currencies, indices, stocks, and assets, which amount to over 500 underlying assets. Most traders will find all of these assets more than enough when it comes to helping them develop a more diversified portfolio which can withstand market volatility.

IQ Option adds Three new cryptocurrencies for trading

The cryptocurrency world, unlike the fiat currency world, is continuously changing. Each day sees vast shifts in value, trends and overall market share. Plus, we continue to see the emergence of new cryptocurrencies. Having said that IQ Option has added three new cryptocurrencies to their trading platform. The currencies added are Qtum, Stellar, and NEO.

Trading NEO

NEO for those who don’t know happens to be the very first non-profit cryptocurrency that’s based on the blockchain. The currency originated in China. It allows for you to arrange payments via digital assets and by using smart contracts similar to Ethereum and other currencies.

However, NEO shares other similarities with Ethereum too like they are both cryptocurrency projects that use open source technologies which makes them perfect for ICOs, smart contracts, and Dapps. Since it is similar to Ethereum with perhaps one of the significant differences being its country of origin, it is often called .“Chinese Ethereum.”

Features:

• Tokens are: NEO and GAS
• Assets happen to be protected by the law
• Support for various programming languages
• Transactions cost slightly higher than Ethereum
• Quick and simple transactions

Stellar Trading

Stellar is an open source, distributed hybrid blockchain which was created with the goal of facilitating the easy movement of finances. This currency speeds up the process and makes it a lot cheaper. The main advantages of Stellar Trading are:

Features:

• It allows for cheap and fast transactions.
• It offers better security than Bitcoin and Ethereum.
• It has built-in ICO functionality which makes creating a token and adding participants to a whitelist an easy process.
• The network can be used freely for commercially.
• Funds can be frozen in the event of erroneous transactions after which they are sent back to the sender.

Qtum trading

Qtum is one of the rare cryptocurrencies which combines the security of Bitcoin’s blockchain with the ease of use and smart contracts abilities of Ethereum. The platform gives users nearly unlimited opportunities to run a trusted decentralized network of applications. New services can be introduced to reduce the gap which currently exists between the conventional business world and blockchain technology.

Features:

• The system makes it very easy to verify payments.
• It supports businesses with aspects of transfer of their traditional agreements via the use of smart contracts.
• Smart contracts can be initiated via wallets. The wallets can exist on any mobile device.
• Safe and clear processes.
• The cryptocurrency is compatible with all existing Bitcoin and Ethereum gateways.

Stop Loss (SL) and Take Profit (TP)

IQ Option added Stop Loss (SL) and Take Profit (TP) to the Forex trading and Cryptocurrency trading options.

We consider Stop Loss and Take Profit to be two of the most significant new features to trade management system. Both these features perform a similar function to the Technical Analysis tool, but with one difference, i.e., the SL is used before opening a position while the TP can use used handle everything that follows opening a trade.

The Take Profit is a feature which allows users to set a price or value at which the transaction will be completed automatically when reached.

The SL and TP are tools which can help to ensure that a certain trade price is reached. The Stop Loss is used to minimize losses and not intended for taking a profit. So, a trader can set the maximum loss they are willing to bear for a particular asset. When the price drops to that level, it will execute an automated sell. This ensures security for the trader and prevents extensive damage to their bankroll.

IQ Option’s CFD and Forex Trading

Now traders can use IQ Option to trade both CFDs and Forex as well as binary options. The ability to trade both CFDs and Forex is an exceptionally powerful feature and a popular one at that too for traders who want to leverage the global markets to pad their risks.

Most people may find IQ Option’s CFD trading to be a little tricky since it has stringent licensing regulations. But it is this regulation which has helped create a healthy industry because traders can trust it to protect them.

The Forex trading feature is like exchanging currencies, i.e., one with the other. While CFDs rely on the differences between the closing and strike price. These are the same elements in binary options trading, and so most traders will be familiar with them.

IQ Option’s forex broker uses the platform to help traders expand their existing portfolio in an entirely transparent and organized manner. It is a feature that many newbie forex traders will find exceptionally useful.

Trading Forex CFDs via the IQ Option Platform

If you go to the forex CFDs trading screen, you can set the strike price for assets you are interested in trading. The buttons on the right will show you both ’buy’ and ’sell.’ Right above the buttons, there is a box where you can enter in the amount you want to trade and the overall multiplier or the leverage. IQ Option allows traders to leverage maximum 1:300, though it is set at 1:50 by default.

You can be sure that trading Forex CFDs on the platform is very simple. Also, there is no way for you to have a negative balance which can often be caused by using leverage instruments. So, in other words, IQ Option uses negative balance protection for CFDs traders.

Noted Drawbacks

This is the type of site that traders from the USA and Japan would be thrilled to place trades on but unfortunately the citizens of those countries cannot trade on IQ Option; that is something that the site’s management may want to work on in the future.

Key Features

There is simply a whole lot to like about the IQ Option broker. Their very low minimum deposit offers entry in to the binary option marketplace for just about anyone. Knowing that the deposit funds are also stored separately from company’s funds means that it is a fair and reputable site that can be trusted.

We also liked very much their innovative and forward thinking learning tools. It is very unique that their highly helpful demo account acts as a stand-alone account instead of being part of the regular trading platform; this enables the tech team at IQ Option to put features into the demo that make it more closely resemble the actual trading on the real website. The interactive learning tools are also very helpful.

Conclusion/Summary

It is really easy to see why IQ Option became so popular so fast. We loved that they were courageous and innovative enough to build their own web platform for their many users to trade on. We also give high marks to any site that is confident enough in their business practices to allow regulation.

They back everything up with outstanding customer support and the high marks that get on reviews like this show their commitment to help those that trade with them be successful and leave them with a positive trading experience. Simply put, we give this binary option broker a big thumbs up and would recommend all traders to give them a try.

To indicate IQ Option won us over and impressed us a whole lot would be making a big understatement to say the least.

Open a Free Demo Account by Clicking the Green Button Below

General Risk Warning: 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. The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions

Binary options and digital options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page

Additional information

Customer Service: Email: [email protected] and 24/7 online chat + phone line
Support Languages: English, Russian, Turkish, German, Spanish, Portuguese, Chinese, Swedish, Korean, French, Italian, Arabic, Hindi
Trading Options: High / Low, 60 second and others
Assets: Currency Pairs, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 60 second, 2minutes, 5minutes, 15 minutes, 1 hour and End of Day
Deposits and Withdrawals: Credit Card, Wire Transfer, Skrill, Neteller, Boleto, Qiwi, WebMoney, iDeal, Fasapay, Sofort
Withdrawal Time: 1 working day
Demo account: Yes, free of charge, no time limit
Number of assets: 500+
Trading Platform: Web-browser, standalone app

IQ Option Articles:

Binary Option Trading Systems

References and Further Reading:

1. Automated trading system in an electronic trading exchange (John M. Marynowski, Catalin D. Voinescu, Stefan Puscasu, Thomas M. O’Donnell – 2007)

4. Electronic trading for principal/broker trading (Andrew C. Gilbert, Andrew Stergiopoulos, William P. Tselepis – 2020)

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  • Binomo
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