What are options? An option is a contract that gives you the right to buy or sell an asset at a preset price at a specified moment of time in the future.
Example of an option
Let’s take an example. Company A sells petrol. The cost price of petrol includes among other things the cost of raw material. In our case it’s oil. Oil prices are changing constantly. So the company decides to use an oil options contract in order to mitigate the risk of oil price increase.
So how does the option contract work? For example, oil now costs 100 dollars per barrel. Company A goes to an exchange and concludes an options contract with a broker for purchasing oil at 100 dollars next month.
The company has to pay the cost of the option contract also called the option premium to the broker. For the sake of the example let’s say the option premium is 10 dollars. Now let’s study two scenarios.
One month later the price of oil rises to 200 dollars per barrel as Company A has the option contract for purchasing oil at one hundred dollars, it can use its option contract, exercise the option and buy oil at the agreed price of 100 dollars. Thus saving one hundred dollars per each acquired barrel.
Example use of put option when oil price is going up
But what if the oil price drops to fifty dollars. In this case, there is no point in buying oil at the agreed price of 100 dollars. As the commodity is available at fifty dollars on the market. In this case, the company does not exercise the option and pays only the option premium to the broker.
Example use of put option when oil price is going down
Specific terms for trading options
Options trading has its specific terms:
The purchase time is the time when a trader buys an option.
The expiration time is the predetermined point in the future after which an option ceases to exist.
The price of an option contract is called an option premium.
The strike price is a target level that the opening price of an asset should go above or below for the position to close in the money.
Main types of options at IQ Option
There are two main types of options. Call Options ‘calls’ and put options ‘puts’. A call option gives you the right to buy an asset, a put option gives you the right to sell an asset.
Call and put options
Options trading at IQ Option
Options is a popular trading instrument that has many variations at the best crypto platform. If you choose binary options trading you should predict the asset price direction whether the price will go up or down compared to the opening price.
Digital options allow you to choose strike prices. Thus managing your risk more efficiently.
Foreign exchange options or FX options give you the right to exchange one currency for another at a preset exchange rate at a specified moment in time in the future. FX options have strike prices like digital options. On IQ Option platform you can trade binary options, digital options and FX options.
IQ Option is one of the leading options of the best trading platform today. If you want to get into action and learn how it works, registering a new IQ Option account is the only way to do this. Start by visiting the IQ Option platform.
On the right side of the platform, there’s an account opening form.
Fill in your personal details and check the terms and conditions option. Then, click on the “Open an account for free button“.
Once this is done, IQ Option will send a verification link to the email address you’ve provided. Go to your email and click on this link. You will be redirected to the IQ Option platform where you can sign in for the first time. These steps will ensure that your new account is registered.
Register for an IQ Option account even faster
You can click on this link to get to the IQ Option registration page even faster. Simply follow the steps I’ve outlined above to get your new trading account. Note that this is the practice account.
What should you remember when opening a new IQ Option account
IQ Option doesn’t require you provide a lot of personal information during the registration process. However, you must provide real information especially if you intend to use the platform to make money in the future. If you want to become a professional options trader, you will need to verify you account later. This makes it easier to make deposits and withdrawals.
You will only need one email address to open both the practice and real accounts. So use your preferred email address during the registration process.
Recovering $10000 in your practice account
Your new account should come credited with $10000 virtual cash. I always recommend that you use it to trade like you would with real money. But if you love to take huge risks investing large amounts on single trades, you might find the account balance dwindle to under $2000.
So what do you do?
IQ Option allows you to recover the $10000 virtual cash so you can be able to continue trading. Here are the steps to follow.
On the top right of your account, click on the “deposit” button. Then, click on the “Top up” button on the practice account option.
After clicking on the “top up” option, IQ Option will automatically add $10000 virtual money to your account.
Use the practice account for several weeks and ensure that you’re trading profitably. Only then should you attempt to open a real account.
Have you opened a new IQ Option account? How did you find the process? Please share your thoughts in the comments section below.
As the financial markets became decentralized – thanks to the internet, traders with little capital could now participate directly. Brokers scrambled to build online platforms that would enable traders invest in the financial markets for a small fee. New financial instruments were created. Among these were options.
Binary Options quickly gained popularity because they did not require a huge investment to trade in. With as little as $1, a trader was able to speculate on an underlying asset’s price movements and earn a fixed return – in as little as 60 seconds.
As usual, where there’s money to be made, there will always be a scammer around the corner waiting to cash in on unsuspecting victims.
New online options brokers kept popping up. However, a good number were scams designed to fleece unsuspecting traders off their money. Governments in North America and Europe stepped in. They created tough regulations which virtually prevented options brokers from operating within these regions.
So these unregulated brokers turned their focus on other regions including Latin America, Eastern Europe and Asia. However, governments in these regions also responded by introducing regulatory laws.
This however hasn’t stopped scam brokers from operating. Many will launch, operate for a few months or years and close shop. At the same time, getting away with millions of trader’s money.
This guide will teach you how to identify scam options brokers as well as why IQ Option is a good pick.
How do you identify a scam broker?
There are several ways to identify a scam options broker. They include the following.
Regulation status
This is perhaps the easiest way to identify a scam options broker. If a broker doesn’t provide their regulation status, this is a red flag. Do not invest your money with them.
Regulation has several benefits. Among these is that your deposits are insured. This means that you can get compensated for losses you incur in case the broker goes under.
Now, if a broker is regulated, they must also provide information regarding which countries in which they do not offer their services.
For example, IQ Option doesn’t offer their services to North American citizens. In addition, they don’t offer VIP accounts to citizens of the EU. This is explicitly stated on their website.
Location and contacts
Before investing your money with any broker, it’s always recommended to find out where they’re located as well as their contact numbers. This information should be readily available on their primary website. Their office addresses should also be available (as opposed to a PO BOX).
Try to contact their support team and ask questions regarding their platform and trading in general. If they don’t seem to have an idea about what your asking, it’s best to avoid dealing with them.
Where their clients are based
Many of the popular online trading platform will claim to have over 1 million active accounts. While this might be true, the important thing to consider is just where these clients come from.
There’s no point in trading with a broker that has 1 million traders from a handful of countries. Make sure to do a Google Trends search on the platform in question. If the platform’s traders come from different regions (including yours), it might be a good broker.
Types of financial instruments offered
It’s no secret that options are a popular financial instrument. However, there are traders who prefer other assets such as forex and cryptocurrencies.
Top brokers will offer hundreds of financial instruments derived from different asset classes. If a platform claims to offer options only, it’s likely that they are a scam. All brokers know that options are high risk.
Majority of traders are bound to lose money trading them. If a broker offers options only, their main goal might be manipulating prices – which I’ll cover next. After making money from trader’s losses, the broker will simply close shop.
Price Manipulation
This tactic is aimed at ensuring that majority of trades end up losing. Since the broker owns the trading software, they have control over the prices that appear on the charts.
An easy way to identify this manipulation is to open the broker’s platform alongside a free platform such as MT4. Then compare the price charts of the same asset in real time.
Complaints by traders regarding financial transactions
If you come across online trader complaints that a broker doesn’t process their withdrawal requests or has hidden fees, consider this a warning not to invest with them. Many options brokers will claim not to charge deposit, withdrawal or trading fees. However, this changes once you join their platform.
What introducing brokers say about the platform
Introducing Brokers are simply individuals or businesses that refer new traders to options platforms in exchange for commission. It’s rare to find IBs discouraging traders from joining a particular trading platform. But if you find that several affiliate partners actually claiming that a particular platform is a scam, take note. It might be true.
On the other hand, if you find IBs aggressively promoting a new platform with claims of the millions to be made there, this is yet another red flag. No options broker opens shop to give away free money.
Platform takes form of a multi-level marketing business
Would you refer your friend, partner or sibling to a trading platform even if you know they cannot trade? What if the platform offered your $50 for every one that opens a trading account?
That’s MLM 101. Many scam platforms have adopted this business model. To hook you in, you might be offered a free trading account with something like $30.
However, once you’ve opened and account (and made some money), you’ll be encouraged to refer new members for more free money to trade with. The problem is, the platform is rigged to ensure that your trades are winners. You reckon it’s easy trading there and anyone can do it.
However, it’s only once you’ve recruited other new members with real money accounts that you’ll get paid. Anyone with real money accounts on the other hand doesn’t enjoy the luxury of “winning” trades.
And this cycle keeps repeating itself until the platform finally collapses.
Why choose IQ Option?
Since its launch in 2014, IQ Option has been a leader in innovation as far as online options platforms go. The broker has undergone major improvements over the 4 plus years they’ve been in existence. They’re fully regulated by Cysec and offer hundreds of different financial instruments to trade in.
Being a trader focus platform, IQ Option has invested in tons of educational material that includes video tutorials on how to trade. They also have a regularly updated blog that provides tips to traders.
Their customer support team is readily available. Deposits and withdrawals are fast and, the platform continuously adds new payment methods to accommodate traders from different regions.
The IQ Option platform is accessible through desktop and mobile devices. They also provide a free practice account that can be recharged with $10000 virtual cash should your account balance fall below $2000.
A lot can be said about the IQ Option platform but one thing remains true – they are a legit options broker.
A good number of forex traders on IQ Option don’t understand how to use pending orders. This useful feature makes it easy for the platform to automatically open a trade position once certain conditions are met. Even better, it will also automatically close open positions once certain conditions are met. Consider this scenario. You’re trading the EUR/USD currency pair. From your technical analysis, you predict that the price keeps falling to a support range before bouncing back up. However, the price is still up. Now you have two options. First, you can wait until the price drops to the support zone before entering your trade. Second, you can place a pending order. These are commands set within your trading interface that once the price reaches the support zone the platform will automatically open a buy position. Given both choices I’d take the latter. This guide will teach you how to open pending orders when trading forex on IQ Option. Opening a pending order on IQ Option Once you’ve logged into your IQ Option trading account, set up a 5 minutes candles forex chart. For purposes of this guide, I’ll also use Bollinger Bands. This indicator makes it easy to identify possible trend reversals (space between bands widens).
Pending orders can be opened in two ways. The first way to open a pending order is by time. That is, the IQ Option platform will automatically enter a trade position at some time in the future. The problem with this approach is that you can never know where the prices will be at any given time in the future. So it’s advisable to avoid this method. The second and recommended way to open a pending order is through price. That is, the platform will automatically enter the trade position once the asset’s price reaches a specific level. The good thing about this approach is that you can easily predict that an asset’s price will reach a certain point based on previous price movements. Advantages of using pending orders on IQ Option Pending orders partially automate the Bitcoin Trading Platform. This leaves you with more time to analyze the charts. When trading forex, the trade entry point isn’t the current price. It is a price that’s higher or lower than the current price. Pending orders allow you to enter position at a price point of your choosing. This removes the pressure of having to keep track of price movements which could lead to emotional trading. Partial automation allows you to keep trades open even when you’re not physically working on your trading interface. Example for opening a pending order on IQ Option
Let’s use the EUR/USD chart above. Notice the price point of 1.13762. During the uptrend, this price point formed a strong resistance where price consolidation occurred. Once the price broke out of this level the uptrend continued. I would expect prices to bounce off this price point during the downtrend.
So I’ll place my pending order (buy) at the 1.13762 price point. But before going into the details, let’s take a look at the steps to take. The first step involves choosing the amount to invest in this trade. Step two involves selecting the multiplier. This is simply the leverage applied on this trade.
So when trading with $10 and a leverage of X300, it’s like I’m trading with $3000. The third step involves setting the auto close parameters. This includes setting the take profit and stop loss. The +100% take profit simply means that the platform should automatically close the trade when profits are 100%.
The -95% stop loss simply means that the platform should automatically close the trade if the trade goes against me and the investment drops by 5%.
Opening the pending order
Now that I’ve decided to enter a buy position once the price drops to 1.13762, how do I do it? First, I’ll hover my cursor along the prices (left side of your trading chart) until a small black box with 1.13762 appears.
Then I’ll click once. Next, I’ll click on the “Buy” button. Once this is done, IQ Option will send a notification on my trading interface indicating the pending position has been created.
Now what happens when the pending position has been opened? IQ Option will send a notification indicating that the trade entry has been executed. If you look at the chart below, there are 3 different points.
Point 1 shows the price point where the pending order will be triggered. Point 2 shows the price the chart was reading when I entered the pending order command.
Point 3 shows the point where the take profit and auto close feature will be triggered. That is, the price must rise from the point 1 to point 3 for the take profit feature to automatically close the trade.
Changing the settings of the pending order on IQ Option
One great thing about IQ Option pending orders is that you can change their settings. You can increase the trade amount – if the trade goes your way and you want to increase profit. You can also adjust the take profit and stop loss percentage (or amount).
You can also apply the trailing stop as well as set the trade to use the available account balance (not just the amount you invested in the trade). To make these changes, simply click on the pending order. Your chart should look like the one below. Once all adjustments are made, you should click apply to save the new settings.
Note: You can also close a pending order manually. Simply click on the transactions tab on the left of your trading interface. Click on the pending orders feature and then select close for the pending orders you want to terminate.
Pending orders are a good way to open future trades on IQ Option. This feature is available for forex, stocks, CFDs and other instruments.
Now that you’ve learned how to open pending orders on IQ Option, try them out on your practice account.We’d love to hear about your results in the comments section below
There can be a situation where the loss on a position reaches 95 percent. Nevertheless, on IQ Option platform you have a possibility to maintain the position open.
In order to do this, you should click on the ‘Set Up Auto Closing’ button and select ‘Use Balance to Keep Position Open’.
If the loss for a position reaches minus 95 percent an additional 20 percent of your initial investment amount is reserved in your account. If the position continues taking a loss your available balance is reduced by 20 percent again and again.
Once the position rises to at least minus 94 percent all previously reserved funds are returned to your balance. You can limit the additional funds reserved on your balance by specifying a level of loss that is acceptable to you for this position.
As the financial markets became decentralized – thanks to the internet, traders with little capital could now participate directly. Brokers scrambled to build online platforms that would enable traders invest in the financial markets for a small fee. New financial instruments were created. Among these were options.
Binary Options quickly gained popularity because they did not require a huge investment to trade in. With as little as $1, a trader was able to speculate on an underlying asset’s price movements and earn a fixed return – in as little as 60 seconds.
As usual, where there’s money to be made, there will always be a scammer around the corner waiting to cash in on unsuspecting victims.
New online options brokers kept popping up. However, a good number were scams designed to fleece unsuspecting traders off their money. Governments in North America and Europe stepped in. They created tough regulations which virtually prevented options brokers from operating within these regions.
So these unregulated brokers turned their focus on other regions including Latin America, Eastern Europe and Asia. However, governments in these regions also responded by introducing regulatory laws.
This however hasn’t stopped scam brokers from operating. Many will launch, operate for a few months or years and close shop. At the same time, getting away with millions of trader’s money.
This guide will teach you how to identify scam options brokers as well as why IQ Option is a good pick.
How do you identify a scam broker?
There are several ways to identify a scam options broker. They include the following.
Regulation status
This is perhaps the easiest way to identify a scam options broker. If a broker doesn’t provide their regulation status, this is a red flag. Do not invest your money with them.
Regulation has several benefits. Among these is that your deposits are insured. This means that you can get compensated for losses you incur in case the broker goes under.
Now, if a broker is regulated, they must also provide information regarding which countries in which they do not offer their services.
For example, IQ Option doesn’t offer their services to North American citizens. In addition, they don’t offer VIP accounts to citizens of the EU. This is explicitly stated on their website.
Location and contacts
Before investing your money with any broker, it’s always recommended to find out where they’re located as well as their contact numbers. This information should be readily available on their primary website. Their office addresses should also be available (as opposed to a PO BOX).
Try to contact their support team and ask questions regarding their platform and trading in general. If they don’t seem to have an idea about what your asking, it’s best to avoid dealing with them.
Where their clients are based
Many of the popular online trading platform will claim to have over 1 million active accounts. While this might be true, the important thing to consider is just where these clients come from.
There’s no point in trading with a broker that has 1 million traders from a handful of countries. Make sure to do a Google Trends search on the platform in question. If the platform’s traders come from different regions (including yours), it might be a good broker.
Types of financial instruments offered
It’s no secret that options are a popular financial instrument. However, there are traders who prefer other assets such as forex and cryptocurrencies.
Top brokers will offer hundreds of financial instruments derived from different asset classes. If a platform claims to offer options only, it’s likely that they are a scam. All brokers know that options are high risk.
Majority of traders are bound to lose money trading them. If a broker offers options only, their main goal might be manipulating prices – which I’ll cover next. After making money from trader’s losses, the broker will simply close shop.
Price Manipulation
This tactic is aimed at ensuring that majority of trades end up losing. Since the broker owns the trading software, they have control over the prices that appear on the charts.
An easy way to identify this manipulation is to open the broker’s platform alongside a free platform such as MT4. Then compare the price charts of the same asset in real time.
Complaints by traders regarding financial transactions
If you come across online trader complaints that a broker doesn’t process their withdrawal requests or has hidden fees, consider this a warning not to invest with them. Many options brokers will claim not to charge deposit, withdrawal or trading fees. However, this changes once you join their platform.
What introducing brokers say about the platform
Introducing Brokers are simply individuals or businesses that refer new traders to options platforms in exchange for commission. It’s rare to find IBs discouraging traders from joining a particular trading platform. But if you find that several affiliate partners actually claiming that a particular platform is a scam, take note. It might be true.
On the other hand, if you find IBs aggressively promoting a new platform with claims of the millions to be made there, this is yet another red flag. No options broker opens shop to give away free money.
Platform takes form of a multi-level marketing business
Would you refer your friend, partner or sibling to a trading platform even if you know they cannot trade? What if the platform offered your $50 for every one that opens a trading account?
That’s MLM 101. Many scam platforms have adopted this business model. To hook you in, you might be offered a free trading account with something like $30.
However, once you’ve opened and account (and made some money), you’ll be encouraged to refer new members for more free money to trade with. The problem is, the platform is rigged to ensure that your trades are winners. You reckon it’s easy trading there and anyone can do it.
However, it’s only once you’ve recruited other new members with real money accounts that you’ll get paid. Anyone with real money accounts on the other hand doesn’t enjoy the luxury of “winning” trades.
And this cycle keeps repeating itself until the platform finally collapses.
Why choose IQ Option?
Since its launch in 2014, IQ Option has been a leader in innovation as far as online options platforms go. The broker has undergone major improvements over the 4 plus years they’ve been in existence. They’re fully regulated by Cysec and offer hundreds of different financial instruments to trade in.
Being a trader focus platform, IQ Option has invested in tons of educational material that includes video tutorials on how to trade. They also have a regularly updated blog that provides tips to traders.
Their customer support team is readily available. Deposits and withdrawals are fast and, the platform continuously adds new payment methods to accommodate traders from different regions.
The IQ Option platform is accessible through desktop and mobile devices. They also provide a free practice account that can be recharged with $10000 virtual cash should your account balance fall below $2000.
A lot can be said about the IQ Option platform but one thing remains true – they are a legit options broker.
IQ Option is one of the best known binary brokers, and most people have reviewed it as a top-notch solution. It is more of a representation of what binary trading platforms should look like in the coming years. IQ can be termed as all-around software that accommodates all traders’ needs, and it is, therefore, something that I can confidently recommend.
IQ Demo Account
You can access the Demo account on Android, PC, and IOS. It is recommendable that you try out the free Demo option first so you can evaluate the platform and understand it better. The Demo account reviews show that it is a good platform, but you should give it a free trial first. You can always recharge the available virtual cash if it goes down to less than $5000.
Is IQ Option Legit?
We will answer this in terms of whether the IQ option is verified or it is something you should worry about. For starters, IQ Option Europe LTD is accredited by CySEC, and Cyprus
approves it and authorized by EEA. IQ Option does not only operate in Europe, but also it works in other regions, but it is registered under the name IQOPTION LTD and registered at Gredaniesand St. Vincent. IQ option is well-regulated, and that is a plus. However, the major drawback is that they do not accept traders from Israel, Australia, Canada, Japan, Sudan, Iran, Palestine, N Korea, USA, Syria, Latvia, and Belgium.
IQ Option Payout and Returns
I’m giving the platform a 5 out 5 for returns. The returns are attractive, and if you are looking for a way to make fast and legitimate money, IQ will do you good. The maximum payouts go up to 92% in cases of a successful trade. The weekends are even better, and the payouts go up to 95%. Weekends are the best time to try your luck, but you should note that they only provide cryptocurrencies. Also, the new digital option has higher returns that go for up to 900%.
We will discuss and review more about the new digital feature later. Also, a nice extra is the IQ Option tournaments where you can compete with other traders to make the most tournament money in your account over a limited time frame., Here you can participate with very little or no investments. and the tournament winners can get very very lucrative Rewards. I recommend to give it a shot. It’s a fun way of trading, one time I had joined a small tournament for a 5 USD buy in and was able to get 200 USD in return for my 4th place in the rankings.
IQ Option Software
I would give this software a rating of 10 out of 10 and with good reason. This is the best software that I have seen in the longest time. There is a lot to love about this software and its interface, the layout, and its usability. The platform has excellent features to be discussed further later in this IQ Option review. To sum it up, we can all agree that the software is super incredible.
Charts, Tools, And Indicators
The platform entails a range of chart options which allow you to choose the one that suits your exact trading needs. These include candles, bars, lines, and Heikin Ashi. Each of these choices has its different features, pros, and cons. For example, if you are technical analysis and following trends, you can go for various drawing tools such as trend line which will help you in setting up price movement’s level of support and resistance.
What’s more? IQ option offers you an array of indicators that lets you choose the best based on your style and preference. You can access all these elements by checking the bottom left of the trading interface.
Customer Service
They have great customer service, and I would give it a 4 out of 5.
One of the things I love most about their customer service is how instantly they reply to inquiries. They have an excellent customer support team that has been set aside to answer all questions within seconds. Nothing beats fast responses when it comes to determining the quality of customer services, and this is something a plus for them.
Deposit Options
You will have access to a range of deposit methods, and that is another positive thing about IQ option. It shows that they care about their customers and have come up with payment options to suit every client’s needs. Their deposit forms include eWallets, credit, and debit cards. They also listened to customer demands and have recently introduced AstroPay card and ADV Cash as acceptable methods of payment. This makes it is more convenient for everyone and more straightforward for new traders to join the trading platform. Generally, deposit options vary depending on the country of a client.
Expiry Period
The expiry term depends on how long you are willing to hold the trading position. This could range from one minute to one month. IQ has a range of trade expiry period, which mostly depends on the kind of asset that you will be trading. You can hold binary options positions for a range of between 1 to 5 minutes. The other feature to love about this platform is that you have the chance to set trade entry that will happen in the future. For example, you can set a trade entry that you want to occur in the next 2 or 3 minutes.
Company Profile
This firm has been in existence since 2013. It is regulated by CySEC in Europe and approved by EEA. However, because EEA regulates the company, IQ option only provides a particular selection of financial options to the European retail traders.
IQ Option is a subordinate of IQ Option Europe Limited. Their headquarters are in Yiannis Nicolaides Center found in Agiou Cyprus, and the company registration number is HE327751. IQ Option CySEC license number is 247/14. They provide their services to all the citizens of Asia, Africa, Latin America, and the Middle East.
They have great customer support and an exceptional 24/7 international support that comes in different languages. This ensures that they can conveniently communicate with all their customers. Also, traders can reach their support team through email, phone, Skype, or even chat. Their UK phone number is + 44 20 8068 0760.
More About IQ Option Deposit
Let us dig deeper about the deposit options. We already made it clear that they accept a range of deposit options, but what are the terms? For starters, you should know that the minimum deposit amount is $10. This means that you cannot deposit an amount lower than this. The amount is relatively fair and great for those who just want to give them a try before making the final decision. It is quite a reasonable amount for those who wish to deposit and see if the system works before investing in big amounts. It would have been unfair if you had to make a minimum deposit of $50. That will be a significant loss if things fail to turn as you expected.
Now away from the deposit, the minimum amount that you can invest in this trading platform is $1 per trade while the maximum is $20,000. The maximum deposit amount is $5,000, and the available deposit options are MasterCard, bank cards, e-wallets, Visa, Astropay, and ADV Cash.
You may notice that sometimes the deposit will take some time before reflecting in your trade account and there is nothing to worry about. In most cases, though, it will reflect instantly.
Withdrawal
update: from the 9th of December 2019 and on, traders will have 3 commission-free withdrawals per calendar month. The calendar month is calculated from the first day of the mouth. Each subsequent withdrawal will incur a commission fee.
Now that you understand more about the deposit, it is time to learn more about their withdrawal options. A few years ago, IQ Option introduced instant withdrawal. This means that your withdrawal request will be processed instantly. It is advantageous since you get your cash immediately after making the request and therefore if you were after urgent money, then they got your back. You, however, need to prove your identity first for the withdrawal to be successful and for it to be fast. Ensure that your account is fully verified before attempting to withdraw.
Downloading The App
The best part about IQ Option is that it is available on smartphones. You do not have to be next to your computer to enjoy trading on IQ option. Simply download the app on your Android or iOS, and you will even love that the app is free. The other thing to like about the app is that the features you get on your smartphone apps are the same as you would find if you decide to use a desktop app.
Do You Need An IQ Option Account?
Although it is not mandatory, it is recommendable that you give the platform a free trial with a demo account. This way, you will be in a position to determine if the platform is worthy or if it meets your expectations.
What Are The Benefits Of IQ Option?
You are probably wondering what it is that makes this trading platform standout and why it is better than most platforms. IQ option has a range of great deals that makes it most people’s favorite. Let’s have a look at some of these aspects;
The platform is easy to use — you do not have to be an experienced trader to be in a position to use this site. Even new traders find it quite friendly and easy to navigate, and this is one of the main aspects that people look for when deciding on the best trading platform to choose.
Accessibility — the other benefit or feature that makes IQ option to stand out is its accessibility. By this, it means that you can easily access the platform from various devices such as on your smartphone, web browser, or on your desktop. You can enjoy trading from anywhere and at any time.
IQ has invested in ensuring that they can offer their customers with educational resources and guide them through the trading process. They have a collection of educational resources like videos, articles, and real-time smart news feed to keep the traders updated at all times and help them keep up with the market trends. They also have a wide range of tradable assets to cover everyone’s needs and answer all questions that traders may have regarding the same. These include cryptocurrencies, binary, stock, and commodities, not to forget ETFs. Great financial instruments — IQ has done a great job in offering financial instruments to meet the needs of traders from specific regions.
IQ Option Downsides
Anything with upside has a disadvantage, and IQ option is not an exception. There are a few things not to like about them. The first one is that their primary focus is on investors who prefer a short holding term. They do not consider those who want a longer expiry time, and mostly their terms expire within a day unless traders set a shorter period. They, however, have an off month longest option where you can hold your trade position longer.
Do You Need To Open An Account With IQ Option?
If you are still in a dilemma and still wondering if you need to open an account, here is what you need to know first before making your final decision. You should know that their website is professionally designed to offer your simplicity and convenience when using it. This is unlike most broker sites that are filled with clutter. The sites are easy to use and navigate through different sections of the platform. What’s more? You will find all the information you need about opening and using an IQ Option account. It is all well described as you move down the site.
You can access the website through your Smartphone or computer. This is an additional point as it means that you can access your account from anywhere and at any time provided you have your device with you and an internet connection. They care about everyone, and they understand that they have customers from all over, and for this, they have availed the site in 13 different languages. This ensures that every trader can access and understand it regardless of where they come from.
If you are still not sure about whether to open an account, you will be happy to know that the process is super easy. They have also gone out of their way to offer demo accounts where you get to learn more about the account and how to use it. All that is required from you is to fill in your names and email to gain access. The real account, however, needs you to present your identification documents and get verified before you can access it. Verification may take approximately 10 to 30 business days.
The best part about IQ Option is that they have gone out of their way to offer traders with useful and educational resources to guide them on how to open and use the account. Traders have access to more than 200 high-quality videos on the site, all which have been posted to tutor them and answer any questions that they may have regarding account creation. They have also put up blogs and articles explaining the same and ensure that site visitors get to keep up with the constantly changing trends. Even better; they have an informative FAQ section that answers all the frequently asked questions about trading.
Now that you have already created an account, you need to understand more about depositing and withdrawal, and once again, the process is straightforward. IQ accepts different methods of payment, and with this, you can deposit your money instantly at any time with your phone or credit card. Also, they are still adding for payment methods, and with time, they will have more available payment methods. They recently added AstroPay card and ADV Cash to grow their list of acceptable payment methods.
How long does it take for the money to credit to your account? This will sorely depend on your method of payment. The minimum allowed amount that you can deposit is $10 and this is quite friendly compared to their competitors. You do not have to worry about your money going to waste once you realize that the platform is not exactly what you were anticipating for. You are allowed to invest as little as $1, which is the minimum investment amount based on what trading instrument you choose to invest in. Withdrawal is also super easy, and you get money instantly.
You can request your money to be sent through any of the available deposit channels. However, your money can only be sent to the same channel that you used for depositing. Card withdrawals are the most prioritized, and therefore, when creating an account, it is best that you consider it as your primary method of deposit and withdrawal. The trading platform is professionally designed and allows you to access a range of features by one click on the right of the interface. Some of the features to expect from the interface include;
You can access your trading history from when you started and all the details of the past trades It lets you select an asset by clicking on the + sign located on the top of the interface
You can view the leader board where you get to see how other traders are doing in terms of earnings You can view the upcoming tournaments
You get access to market analysis, which allows you to view top performing forex and earnings calendar. This is an essential element to guide through your analysis
You only need to make a single clean to reach the support team and have all your questions answered on time
You can view a range of tutorial videos, graphical tools, and different charts
You will also love that they have invested in charts and indicators to make navigation through the site easier, even for the new traders. They are continually updating the charts to ensure that they can accommodate all traders and their preferences and styles. They recently introduced Belkhayate timing, DPO, and KDJ indicators.
The first thing that traders look for when selecting a good trading platform is customer support. IQ Option has proven its worth and has done a great job in offering customer services and ensuring that traders are attended to on time and that they can get answers to all their inquiries. They have integrated a live chat feature that ensures that traders get to have their issues addressed in real time.
Traders get the chance to interact with other traders as IQ Option has added a chat feature that traders can access from their trading accounts. This is super efficient, especially when a trader is looking for tips to be successful. S/he can get them by asking from the rest of the high-earning traders.
How effective is IQ Option? I have already mentioned several times that they offer up to 92% payouts on successful trades. This is a better rate than what most brokers provide, and you can trust that you will be able to reap big from this platform. Their trade expiry time is, however, shorter than most brokers as their speed trading starts from 1 minute to 1 hour. The position holding term that you get is one month.
Complaints about IQ Option
A lot of good things have been said about IQ Option, but that does not mean that there have not been any complaints about it here and there. Some users have had a few negative things to pinpoint about this broker, but it requires you to do some in-depth digging to come across the complaints.
Most of these complaints focus mainly on pricing. Some traders feel that there is an unfair difference between the strike prices and the actual market price. They feel that what they make from the platform is a bit lower than their expectations. Such complaints might be the reason behind the prompt action by CySEC where they withdrew a fine they had imposed on IQ Option for not failure to execute orders for their clients in the best way.
The other common issue that most individuals complained about was regarding the withdrawals.
Some people feel that it takes too long before money reflects in their bank accounts. They wish that it would be as instant as it is when making deposits. It takes approximately 45 business days for the money to reach your account after sending the withdrawal request. This complaint triggered the changes in terms of withdrawal, and since then, IQ Option introduced instant withdrawal. This means that they can now access their money faster, especially when they use debit and credit cards as their method of payment. Most of the withdrawal requests are now processed within 24 hours, and this is a plus for the platform.
Currently, wire transfers are only available in Argentina, Thailand, South Africa, Malaysia, Indonesia, and Vietnam. It is recommended that traders choose their method of payment carefully to avoid frustrations during deposit and withdrawal.
How User-Friendly Is IQ Option
User friendliness has been one of the top reasons why a lot of individuals prefer this site, and to my review, the interface is very easy to use. The design is super amazing, and the sections are professionally laid. The platform has been made for everyone’s convenience, and even the new traders find it super easy to use and navigate. Just a few mouse clicks and you will find yourself at the right place.
The platform has an easy-comprehend interface, but it is a bit cluttered, especially for those who have more than one open trade. It gets even worse if you try to open more than one window. IQ Option mostly focuses on Europe and Asian traders, and you will realize the most of the available languages are from these two regions.
How accessible is the platform? The accessibility of the site has been improved dues to its mobile friendliness and the fact that you can access it virtually from anywhere at any time.
Tradable Assets
IQ Options is one of the few brokers that offer more than 10million financial assets to traders. Some of these tradable assets include;
Binary Options
This is where they started. Initially, they offered binary options, and these assets have a fixed return of up to 92% on successful trades. You should note that there is no precise amount that you can lose. The amount is proportional to your investment.
Digital Assets
IQ Options are trying to keep up with technological advancement and have recently launched digital options. People find this option more and trade conveniently. Digital options come with a range of benefits. For starters, you can get up to 900% returns on successful trades. Your potential returns will be based on your strike price. Also, you can only lose as much as you have invested, and the best part is that you can exit the market if you feel that the losses are too much. You may also do this to lock in profits. Trade position expiry time is between 1 to 5 minutes. Digital options are the best for individuals in non-regulated states where they cannot access FX trades.
Commodities
IQ Options offers a range of tradable commodities which include oil, gold, and silver. Trading with commodities is the best choice if you wish to hold on your position for an extended period.
ETFs
ETFs are more like stocks. They come with some pros the main one being that they give traders a chance to diversify their portfolio and buy as many shares as they can afford. They have a choice to buy as low as one share.
Stocks
IQ Option is among the few brokers that offer their traders more than 165 stock CFDs all from established companies from across the globe.
Forex
Forex is one of the people’s favorite training assets in IQ Options, and you can take advantage of this asset and enjoy making up to X1000 returns especially if you are a trader from a non-European country. For the European traders, you can leverage up to X30 returns.
FX Options
Forex Options are mostly suited for European traders. Most traders opt to combine them with the digital option to get better returns. When done well and in cases of successful trades, you have a chance to get unlimited profits with limited losses. When trading with digital options, you have noticed that you are required to choose a strike price that you feel will work best for you and one that you think that your financial instrument will reach. The platform then calculates your potential returns automatically. It will also show you the potential losses if things go wrong. FX options have an expiry time of up to one hour, and you have a choice to exit the trade to minimize losses or lock profits before its maturity.
Cryptocurrencies
Cryptocurrencies are another kind of assets that have been gaining popularity and have become a buzz in the market today. Luckily with IQ Option, you will have access to over 11 cryptocurrencies, and they give you a chance to make as much as you can with these currencies. They offer unique and highly leveraged cryptocurrencies that you might not find anywhere else. For example, with Bitcoin, you can leverage as much as X100, which can increase your profit and loss potential. You should, however, note that the leveraged cryptocurrencies are only meant for traders that are based outside the EEA.
Indices
This broker allows their traders to invest in about 11 of the most prominent largest indexes. You also get a chance to enjoy the leverage of up to X 150 when you trade with indices on IQ Options.
Commissions And Effective Returns
IQ Options is among the brokers that primarily focus on short position holding terms. If you are after extremely short terms, you can IQ Options allows you to access turbo options which have expiry dates of about 60 to 120 seconds. Their short term options have expiry terms of about 1 to 5 minutes, and you may have an increment of 5 minutes after that. The most prolonged position holding period you can take is up to one month. This broker provides traders with decent returns as with a successful trade can for up to 92%.
Contact And Support
IQ Option has been good work and trying their best to offer excellent customer support. They believe that customer support is the key to seeing the customers satisfied, and it is the only way to keep them hooked. For this, they have set aside a group of customer support whose availability is 24/7. This ensures that traders can have all their issues and inquiries solved within the shortest period. They have a direct number, and the good thing is that they have a real person behind the desk. Traders can, therefore, have confidence that all their queries will be answered regardless of how complex they may seem. You can reach their customer support team through a range of channels such as Skype, email, phone, and chat rest assured you will get fast responses.
They have also integrated a chat feature within every trader’s account interface so that traders can chat among themselves. They can take advantage of this feature to inquire when they have problems or when you want to ask about tips from the more experienced or high-earning traders.
Deposits, Withdrawals, And Bonuses
Deposits and withdrawals are quite easy, and IQ options accept a range of payment methods, including e-wallet, credit and debit card. Also, the verification process only takes a short while, and you all ready to start with your trade. It will take you a few weeks for the account to be verified. After verification, you can now make your first deposit, the minimum amount being $10. This is quite a good amount bearing in mind that most brokers will require you to deposit a minimum amount of up to $250.
Depositing is not the only easy thing since withdrawal has been improved and it now takes you the least time to have your money in a bank account. You, however, should note that they will only accept the payment method that you used for depositing to be the same for withdrawal. You should also note that IQ Option does not offer sign-up bonuses. They have to follow the requirements of CySEC.
Website Extras
IQ has made several steps ahead and are now offering unique and super efficient features to improve trade and make the process easier for everyone. They have put together over 200 tutorial videos to provide traders with resources on how to get started and how to use the platform. They also have a demo account which gives traders a chance to do a free trial and see if the platform meets their needs.
The IQ Option trader account gives you access to other tools and features to make the trading process more convenient for you and ensure that what you get matches your preferred pattern. Most of these tools are things that you will not find anywhere else.
IQ Option was launched in 2013, and since then, they have made it to the list of the fastest growing binary options brokers. This shows just how much hard they have been working to ensure that their clients get only the best. They have a wide range of tradable assets and traders’ friendly features, and these things make the platform likable by everyone.
IQ Option has made a lot of efforts in introducing new financial instruments such as fore and digital options, and this is another plus for them. They are trying their best to increase leverage, integrate more indicators to make trading as smooth as possible for everyone.
Their hard work does not go unnoticed, and with everything they have been doing, IQ option now oversees transactions of more than $380 per month and an average trader withdrawal of more than $10.8 million in a month.
FAQ
How Should You Use IQ Option In The USA?
Unfortunately, this platform is not allowed in the USA since the relevant authorities have not regulated them in the US, and therefore, you cannot use it.
How Can You Change Your Currency Deposit On IQ Option?
This is only manageable when making your initial deposit. You can do this by clicking on the deposit button on your account, and a deposit window will pop up. You can then choose your preferred method of payment. Enter the amount and click on your preferred currency. Note that you will be doing all these on your demo account.
How Will You Get A Real IQ Option Account?
It is quite easy. You only need to visit the main website; https://iqoption.com/en, and you will get the demo account download option. Go to deposit and after choosing your preferred payment method and making your deposit, wait for a few seconds or minutes for the money to reflect in your account. Now you have your real account, and you can start trading. It is recommendable that you verify your account immediately after making your deposit. This is so you can avoid issues when making withdrawals.
Where Is IQ Option Broker Allowed?
The broker is approved and accredited to offer services in a range of European states. IQ Option is also allowed in other non-regulated states like some parts of Africa, Asia, New Zealand, and Latin America. You should, however, note that particular financial instruments are only available in specific regions.
Who Regulates IQ Option?
IQ Option is regulated by Cyprus Securities and Exchange Commission (CySEC) in Europe under the license number 247/14. IQ Option is also EEA Authorized.
Where Is IQ Option Headquarters?
IQ Option headquarters is based in Europe, Cyprus at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol.
Does IQ Option Have A Maximum Trade Size?
Yes, IQ Option has a trade maximum for both real money and demo account. You can make an investment maximum of $20,000 in a single trade.
Is IQ Option Safe?
IQ Option adheres to the regulative requirements in ensuring that their clients are safe. What’s more, IQ Option utilizes SSL encryption technology to ensure that there is no unauthorized access to your account. IQ Option implements strong steps to encrypt the web traffic between the trader’s computer system and their servers to ensure that their clients’ personal and financial details are secured.
Is IQ Option In Any Way Connected To Metatrader?
IQ Option utilizes its designed platform and is in no way associated with the Meta Trader platform.
What Is The Best IQ Option Deposit Method?
IQ Option offers diverse deposit methods, but my favorite option is Skrill wallet. This is because it is easy and fast for deposits and withdraws, and IQ Option will not impose any extra fees.
Which Is The Best Way To Withdraw Money From IQ Option?
IQ options offer you Skrill Wallet that makes withdrawing cash quite easy. The good things are that you don’t get charged extra withdrawal or deposit fee. Besides, you get to withdraw any amount, and the process is fast. The last transaction was completed in less than 24 hrs but it must be a working day.
Is IQ Option A Better Choice?
IQ Option has built up a good reputation in the market over the years. This can be seen from their regulated status and the rewards they have won. From their growth curve, based on the number of withdrawals made monthly, it is clear that they have a good reputation.
As of 2015, traders recorded withdrawals amounted to $1.5 million per month, and as of 2017, the figures had grown to over $10.8 million per month. Their official partnership with Aston Martin Racing from 2017 to 2018 further shows how committed and reputable IQ Option is, and they have and continue to demonstrate how online trading community can be trusted.
How Can I Open An Account With IQ Option?
Opening an account with IQ Option if free and easy; you only need an active email, Google+ or Facebook to sign up. After sign up, you get $10,000 in Demo account that you can freely use. From there you need to deposit a minimum of $10 to switch over to real money account. It is recommendable to verify your identity after switching to real money account to make the withdrawal possible.
Why Is My IQ Deposit Not Working?
IQ deposit could fail due to primary reasons; either your location or platform. If you are opening an account in a region that IQ option does not support, for instance, the USA, your deposit may fail. In terms of the platform, you are using, choosing a payment method that is not IQ supported will render your deposit efforts to fail.
Before proceeding, see to it that your region is supported and that the payment method is available. If you hit any snags, contact customer support for thorough assistance to ease your depositing effort.
What Does CFD In IQ Option Entail?
With CFD, you can hypothesize and trade following the price changes. Based on specific price movements of various assets such as stocks, cryptocurrencies, and indices, CFD in IQ allows you predict whether the asset’s underlying prices will rise or drop in a particular timeframe and trade accordingly. This will enable you to take advantage of the variance between the present and prospective prices, unlike in predetermined returns, as is the case in binary options.
How Can I Trade Forex In IQ Option?
Trading forex in IQ Option is quite easy. All you have to do is to choose the forex option from the “assets list,” choose the currency to match what you wish to trade in, the amount you want to invest and finally the multiplier if you like since it is optional.
After that, the next step is to plan your trade forex by applying trading limits that are, stop loss and take profit. The application allows you to control losses and lock in profits should the markets work against your favor. The next step involves selecting the direction that you think the FX match up price will take to enter a position.
Can I Buy And Sell Bitcoin On IQ Option? How?
Yes, you can buy or sell Bitcoin on IQ Option via cryptocurrency CFDs. However, you should note that the buying and selling doesn’t mean that you actually own BTC tokens, but you will be profiting as you speculate the token’s price movements.
Your Bitcoin activities will generate profits by the variance between the price at trade entry and exit. To trade Bitcoin on IQ Option, you simply visit the cryptocurrencies section and select Bitcoin on the list. After your selection, enter the amount you wish to invest, followed by entering the trading limits this is stop loss and take profit. If you wish to buy, click on “buy” or “sell” if your Bitcoin activity involves selling following your speculation on the expected Bitcoin’s price direction.
What Is Digital Options?
Digital options is a fairly new instrument designed to help you generate higher profits in comparison to binary options. This is made possible by allowing you to choose the strike price, that is, the price you expect the asset to reach, and a timeframe which is over your old position.
After your selection, the platform by design evaluates the expected profit. The best part is that you can exit a trade before its set expiry. This means that you can lock in profits or minimize losses.
How Do I Choose The Best IQ Option E-wallet?
IQ option offers a variety of eWallets to choose from. The best way is to choose an eWallet that you are most comfortable with. Among the available options include WebMoney, Skrill, and Neteller. Skrill is among the favorites owing to its fast processing time and no fees charged.
What Does The IQ Option Broker App Do?
The IQ Option broker app is software designed to run on your Smartphone or desktop. The app is specially designed to ease your logging into the Bitcoin trading account while making it more secure and faster. The IQ Option broker app operates on macOS, Windows, and iOS devices, as well as on Android.
Can I Trade With “Borrowed” Money On IQ Option?
Yes, with the IQ Option multiplier, you can trade with “borrowed” money. The IQ Option multiplier special feature permits you to enter a trade with more money than what you are investing in. For instance, if you are entering a trade with $100, you could apply an X50 multiplier that turns your investment to $5000. It means that if your trade is successful, you make 50 times more than you could’ve had you traded with the initial $100 investment.
What Does Crypto In IQ Option Mean?
Crypto in IQ Option is a short form for cryptocurrencies. IQ platform avails various cryptocurrencies. Cryptocurrencies have become a popular virtual currency maintained by blockchain technology. The financial instrument’s popularity has made it a valuable choice for most traders all over the world. You can find 11 diverse cryptocurrencies offers on the IQ Option platform.
What Are IQ Options Pros?
• Flexible deposit options and accepts credit cards • Seamless, secure, and fast with trading app • Islamic account
WARNING! Please Take Note That Your Capital Is At Risk.
Note that when your in the EEA zone (Europe) the Binary options are prohibited As you venture into CFDs, take your time to understand how they work and see if you can afford to accommodate the risk of losing your money. As they are intricate instruments, CDFs come with a soaring risk of swiftly losing your money due to leverage, taking into account that 74–89% of retail investor accounts lose money trading CFDs.
