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IQ OPTION REVIEW
IQ Option is a reputable online broker which offers Binary Options, Forex, Stocks and Cryptocurrency trading.
Established in 2013 and managed by Iqoption Ltd, the site has quickly become one of the greatest online trading platforms which claim to hold over 20 million registered accounts from traders around the world and processing more than 3 million trades each day.
The broker has its headquarters in Seychelles.
Is IQ Option a Scam?
Although IQ Option has had its share of negative reviews from disgruntled customers, there is also an overwhelming number of positive feedbacks from customers who feel that the broker is doing a great job.
It is worth noting that no major issue has ever been raised against the company thus far.
Since their establishment, their two domains: iqoption.com and eu.iqoptions.com have been doing well by having high and steady traffic, which means that traders are satisfied and pleased with their services.
The company offers customer support in 18 languages and can easily be reached through a phone call, email, and live chats.
IQ Option is a reputable and dependable binary broker with numerous awards from recognized bodies, therefore, cannot be a scam.
IQ Option Accounts and Registration
There are two types of accounts that a trader can choose from at IQ Option:
- The Real Account
This is the first level account and is accessed when a trader makes a minimum deposit of $10. It offers no restrictions on trading functions and the user gets over 70 assets to trade with. The withdrawals are processed within 1 business day and the trader in this account is given an opportunity to join various trading competitions.
- The VIP Account
This account can only be accessed with a minimum deposit of $3000. The trader of this account gets his own personal manager to help him with all his queries.
The trader is provided with his monthly trading records and valuable feedback from the platforms analysts.
There is a favorite option where the user gets to choose his favorite asset that should appear on the display as soon as he logs in.
The trader also gets all the functions provided in the Real account.
IQ Option has a Demo or Practice account for those traders who want to try out the platform and practice before they can invest your own money. The account is funded with a renewable supply of virtual funds.
Registering with IQ Option will only take a few seconds and a trader can sign up directly or through his Facebook or Google account.
The trader will be asked to provide copies of identification such as his National Identification card or Passport for verification. Residents of the EU are also asked to give copies of their recent Utility bill or Bank statement for proof of residence.
The site is not accessible to citizens and residents of countries such as the United States of America, Belgium, Australia, Canada, Israel, Japan, Palestine, Sudan, North Korea, Russian Federation, Iran and Syria due to various restricting regulations.
How IQ Option Works
IQ Option has a gamified aspect that makes it fun and interesting to trade. Every winning trade is highlighted and sound alert notifications sent directly to the users.
A trader has to make a minimum investment of $1 from the initial deposit of $10 in order to start trading. Traders who want to go big can invest up to $20,000.
Here is a detailed video tutorial on how to trade at IQ Option:
Using a demo account is advised for new traders so as to practice and familiarize themselves with the platform before making a real investment.
Currency pairs are also great to start with because they are easy to trade and profit from.
IQ Option Platform
IQ Option has trading platforms that are uniquely made for the Binary option, Cryptocurrencies, Forex, and stocks.
The interface makes it easy for users to access links to their trading history, chats and customer support. A user is able to open up a conversation with the support team whenever an issue arises.
The platform is fast and intuitive and has great attractive graphics that make it easy and fun for users. It also offers charting options where a trader can choose from different charts such as Area charts, Bar chart, Line charts, and Candle charts.
The platform is both web-based and as a downloadable app.
IQ Option Mobile App
IQ Option has also provided their user with a mobile application that is easily downloadable and can be supported by both Android and Apple IOS devices.
It gives sound notifications to its users alerting them whenever their levels are breached and also when there is a trading event coming up.
The app offers the same functions as the desktop app and the user can sign up through his Facebook or Google account. It also allows traders to deposit money directly into their accounts.
IQ Option Deposit and Withdrawal Options
The minimum amount that you can deposit or withdraw from the account will depend on the mode of payment you choose.
Traders undergo through several verification methods before they can make any deposit or withdrawal. Every country has its own set of requirements and some countries also ask for verification before a trader can withdraw any funds from the site.
There are several ways that a trader can deposit and withdraw money to and from his trading account at IQ Option. Some of these methods are Debit/Credit card, Bank transfer, Skrill, Netteller, Wire transfer and many others.
How to use Debit or Credit Cards to deposit on your IQ Option account
This is one of the best and effective methods used to deposit funds at IQ Option. You should first make sure that your debit card is enabled for online transactions.
1) Click on the deposit section of your trading account
2) Choose Visa/MasterCard as the mode of payment and enter your preferred currency and amount to deposit.
3) On the next page, enter your name as it appears on the card, card number and validity period, and the CVV2/CVC2 three digit numbers and click pay.
4) A message notification with a code will be sent to your phone. Enter the code in the part that appears after you have authorized the payment.
How to use Skrill to transfer funds to and from your IQ Option account
This is one of the most popular online payment and withdrawal processors that is accepted by most online Forex brokers. IQ Option does not charge any transaction fees with this mode of payment.
1) You should first have a Skrill account and make a deposit.
2) Transfer funds to your trading account
3) Open your trading account and click on the deposit section
4) Select Skrill as the payment method, enter the amount and click continue
5) This will redirect you to your Skrill account to complete the transaction.
6) To withdraw, click on balance in your trading account and select Withdraw. Select Skrill as the Withdrawal method and enter the email address linked to your Skrill account plus the amount you want and click send. The money will be sent to your Skrill account where you can withdraw from the bank account linked to your Skrill account.
How to use Bank/Wire transfer to withdraw money from your IQ Option account
IQ Option allows deposits and withdrawals from major banks across the world and in different currencies. This method is the most expensive especially if you are withdrawing a small number of funds.
1) Click on balance and withdraw from your trader's account
2) Select the bank/wire transfer option and fill in the form provided. IQ Option will start processing the request. You will receive your funds within 3-5 business days depending on your bank. You may also incur some transaction charges from your bank.
How to Withdraw Money from IQ Option
IQ Option allows withdrawals as minimum as $2, as long you have $2 your account balance, you would able to request a withdrawal in their platform. They will send you a confirmation email if your withdrawal transaction is approved. If you have any question, they have a live chat where you can send inquiry of your needs.
IQ Option Payment Proof
As a player myself, I have personally trade on IQ Option and made a withdrawal of roughly $4,600 US Dollar, the screenshot is taken directly from my Skrill account, some information is hidden for privacy purpose.
IQ Option Products
IQ Option gives its traders a wide array of financial instruments to trade from. It allows trading of Binary Options, CFDs on stocks, Forex, Cryptocurrencies, and ETFs.
- Binary Options – This is simply called Options. It provides around 49 trading assets which mostly cover currency pairs, indices, equities, and commodities. Here, traders can get up to 95% profit within 60 seconds.*
- CFDs – There is 138 CDFs where customers can get up to 30% in profit for every 1% price change.*
- Cryptocurrencies– Features 13 main crypto assets including Bitcoin, Ethidium, Ripple, Lit coin, IOTA, Dash, and Monero.
- Digitals – These are options with great profits of up to 900% *
- Forex – It provides 45 currencies where traders can get up to 500% in profit for every 1% currency change.*
*Amount to be credited to account for a successful trade.
IQ Option Customer Support and Training Resources
The customer support specialists at the moment is around 83 and are able to communicate with various languages including English, Spanish, French, Arabic, Korean, German, Turkish, Hindi, Portuguese, Norwegian, and Thai.
Customer’s queries are answered within 16 minutes on average through email and 38 second to on live chat.
Only traders with a VIP account are provided with their own personal account manager who offers them specialized advice on trading.
The site also provides its traders with training resources such as trading video tutorials and webinars which help both new and experienced traders. Users are also able to access trade e-books and the FAQ section which answers the most commonly asked questions.
IQ Option Trading Tournaments
Traders at IQ Option are provided with an opportunity to showcase and test their trading skills against other traders through various competitions.
The trader has an option of either joining the fee-free tournaments, or the paid tournaments where they pay a small entry fee of $5- $20 to participate. The tournaments can go for 30minutes or one month.
After joining, the trader is provided with $10K virtual funds which he will use to trade. The trader with the highest returns at the end of the competition is declared the winner and given a price.
These tournaments are important because they give the traders an opportunity to test their trading skills while at the same time learning new trading technique from each other.
These tournaments are however not available to EU traders.
- Successful traders get high returns of up to 91%*
- Has a brilliant interface
- Offers a wide range of Options
- Has a free demo account
- IQ Options supports various payment and withdrawal methods
- Not accessible to some countries including the U.S (intends to enter the market soon)
- Only traders with VIP accounts are able to access personalized customer support.
IQ Option has come a long way since its establishment and has managed to gain a reputation of being one of the best binary brokers that also offers trade-in Stocks, Indices, and Cryptocurrencies.
Their fast and smooth custom-made app makes trading at IQ Option very easy and fun to use. The app is available in Mac, Windows, and Android IOS devices.
A demo or practice account is available for traders who want to test the platform before investing their own money.
There are many modes of deposit and withdrawal method supported by IQ Option for traders including Visa, MasterCard, Maestro, Skrill, Neteller, Moneybookers, WebMoney and many others.
Traders at the site are also provided with an opportunity to test their trading skills through annual tournaments where the winner is awarded.
One of the main shortcomings that IQ Option has is that it is not accessible to residents of countries like the U.S.A (they are planning to enter the market in a year or so), Japan, and Canada which are major markets in the world.